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多邻国（DUOL）与Mid-America Apartment Communities（MAA）财务数据对比。点击上方公司名可切换其他公司
Mid-America Apartment Communities的季度营收约是多邻国的2.0倍（$555.6M vs $282.9M），多邻国净利率更高（14.8% vs 10.4%，领先4.5%），多邻国同比增速更快（35.0% vs 1.0%），Mid-America Apartment Communities自由现金流更多（$158.6M vs $96.6M），过去两年多邻国的营收复合增速更高（29.9% vs 1.1%）
多邻国是全球知名教育科技企业，提供覆盖40余种语言的免费及付费游戏化自适应学习课程，同时推出官方语言能力认证、数学学习、扫盲教育等服务，面向个人用户、教育机构及企业客户提供多元学习解决方案。
Mid-America Apartment Communities（股票代码：MAA）是一家公开上市的房地产投资信托基金，总部位于美国田纳西州孟菲斯市，核心业务为投资美国东南部及西南部地区的公寓物业，深耕美国高增长区域住宅不动产赛道，为股东创造稳定的长期投资回报。
DUOL vs MAA — 直观对比
营收规模更大
MAA
是对方的2.0倍
$282.9M
营收增速更快
DUOL
高出33.9%
1.0%
净利率更高
DUOL
高出4.5%
10.4%
自由现金流更多
MAA
多$62.0M
$96.6M
两年增速更快
DUOL
近两年复合增速
1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $282.9M | $555.6M |
| 净利润 | $42.0M | $57.6M |
| 毛利率 | 72.8% | — |
| 营业利润率 | 15.4% | 10.4% |
| 净利率 | 14.8% | 10.4% |
| 营收同比 | 35.0% | 1.0% |
| 净利润同比 | 201.7% | -65.5% |
| 每股收益（稀释后） | $0.99 | $0.48 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收DUOLMAA
| Q4 25 | $282.9M | $555.6M | ||
| Q3 25 | $271.7M | $554.4M | ||
| Q2 25 | $252.3M | $549.9M | ||
| Q1 25 | $230.7M | $549.3M | ||
| Q4 24 | $209.6M | $549.8M | ||
| Q3 24 | $192.6M | $551.1M | ||
| Q2 24 | $178.3M | $546.4M | ||
| Q1 24 | $167.6M | $543.6M |
净利润DUOLMAA
| Q4 25 | $42.0M | $57.6M | ||
| Q3 25 | $292.2M | $99.5M | ||
| Q2 25 | $44.8M | $108.1M | ||
| Q1 25 | $35.1M | $181.7M | ||
| Q4 24 | $13.9M | $166.6M | ||
| Q3 24 | $23.4M | $115.2M | ||
| Q2 24 | $24.4M | $102.0M | ||
| Q1 24 | $27.0M | $143.7M |
毛利率DUOLMAA
| Q4 25 | 72.8% | — | ||
| Q3 25 | 72.5% | — | ||
| Q2 25 | 72.4% | — | ||
| Q1 25 | 71.1% | — | ||
| Q4 24 | 71.9% | — | ||
| Q3 24 | 72.9% | — | ||
| Q2 24 | 73.4% | — | ||
| Q1 24 | 73.0% | — |
营业利润率DUOLMAA
| Q4 25 | 15.4% | 10.4% | ||
| Q3 25 | 12.9% | 18.7% | ||
| Q2 25 | 13.2% | 20.2% | ||
| Q1 25 | 10.2% | 34.0% | ||
| Q4 24 | 6.6% | 31.3% | ||
| Q3 24 | 7.0% | 21.5% | ||
| Q2 24 | 10.5% | 19.3% | ||
| Q1 24 | 9.8% | 27.4% |
净利率DUOLMAA
| Q4 25 | 14.8% | 10.4% | ||
| Q3 25 | 107.5% | 18.0% | ||
| Q2 25 | 17.8% | 19.7% | ||
| Q1 25 | 15.2% | 33.1% | ||
| Q4 24 | 6.6% | 30.3% | ||
| Q3 24 | 12.1% | 20.9% | ||
| Q2 24 | 13.7% | 18.7% | ||
| Q1 24 | 16.1% | 26.4% |
每股收益（稀释后）DUOLMAA
| Q4 25 | $0.99 | $0.48 | ||
| Q3 25 | $5.95 | $0.84 | ||
| Q2 25 | $0.91 | $0.92 | ||
| Q1 25 | $0.72 | $1.54 | ||
| Q4 24 | $0.31 | $1.43 | ||
| Q3 24 | $0.49 | $0.98 | ||
| Q2 24 | $0.51 | $0.86 | ||
| Q1 24 | $0.57 | $1.22 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.0B | $60.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.3B | $5.7B |
| 总资产 | $2.0B | $12.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DUOLMAA
| Q4 25 | $1.0B | $60.3M | ||
| Q3 25 | $1.0B | $32.2M | ||
| Q2 25 | $976.2M | $54.5M | ||
| Q1 25 | $884.0M | $55.8M | ||
| Q4 24 | $785.8M | $43.0M | ||
| Q3 24 | $854.4M | $50.2M | ||
| Q2 24 | $888.2M | $62.8M | ||
| Q1 24 | $829.7M | $54.6M |
股东权益DUOLMAA
| Q4 25 | $1.3B | $5.7B | ||
| Q3 25 | $1.3B | $5.8B | ||
| Q2 25 | $977.0M | $5.9B | ||
| Q1 25 | $893.8M | $5.9B | ||
| Q4 24 | $824.5M | $5.9B | ||
| Q3 24 | $822.5M | $5.9B | ||
| Q2 24 | $766.9M | $6.0B | ||
| Q1 24 | $711.1M | $6.1B |
总资产DUOLMAA
| Q4 25 | $2.0B | $12.0B | ||
| Q3 25 | $1.9B | $11.9B | ||
| Q2 25 | $1.5B | $11.8B | ||
| Q1 25 | $1.4B | $11.8B | ||
| Q4 24 | $1.3B | $11.8B | ||
| Q3 24 | $1.2B | $11.8B | ||
| Q2 24 | $1.1B | $11.6B | ||
| Q1 24 | $1.1B | $11.5B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $107.3M | $261.7M |
| 自由现金流经营现金流 - 资本支出 | $96.6M | $158.6M |
| 自由现金流率自由现金流/营收 | 34.1% | 28.5% |
| 资本支出强度资本支出/营收 | 3.8% | 18.6% |
| 现金转化率经营现金流/净利润 | 2.56× | 4.55× |
| 过去12个月自由现金流最近4个季度 | $369.7M | $717.9M |
8季度趋势，按日历期对齐
经营现金流DUOLMAA
| Q4 25 | $107.3M | $261.7M | ||
| Q3 25 | $84.2M | $266.4M | ||
| Q2 25 | $90.7M | $353.4M | ||
| Q1 25 | $105.6M | $196.6M | ||
| Q4 24 | $83.3M | $239.1M | ||
| Q3 24 | $56.3M | $309.5M | ||
| Q2 24 | $62.4M | $349.4M | ||
| Q1 24 | $83.5M | $200.3M |
自由现金流DUOLMAA
| Q4 25 | $96.6M | $158.6M | ||
| Q3 25 | $79.4M | $170.8M | ||
| Q2 25 | $89.5M | $264.5M | ||
| Q1 25 | $104.3M | $124.0M | ||
| Q4 24 | $81.4M | $152.6M | ||
| Q3 24 | $53.1M | $215.5M | ||
| Q2 24 | $56.8M | $259.7M | ||
| Q1 24 | $82.1M | $148.2M |
自由现金流率DUOLMAA
| Q4 25 | 34.1% | 28.5% | ||
| Q3 25 | 29.2% | 30.8% | ||
| Q2 25 | 35.5% | 48.1% | ||
| Q1 25 | 45.2% | 22.6% | ||
| Q4 24 | 38.8% | 27.8% | ||
| Q3 24 | 27.6% | 39.1% | ||
| Q2 24 | 31.9% | 47.5% | ||
| Q1 24 | 49.0% | 27.3% |
资本支出强度DUOLMAA
| Q4 25 | 3.8% | 18.6% | ||
| Q3 25 | 1.8% | 17.2% | ||
| Q2 25 | 0.5% | 16.2% | ||
| Q1 25 | 0.6% | 13.2% | ||
| Q4 24 | 0.9% | 15.7% | ||
| Q3 24 | 1.7% | 17.1% | ||
| Q2 24 | 3.1% | 16.4% | ||
| Q1 24 | 0.8% | 9.6% |
现金转化率DUOLMAA
| Q4 25 | 2.56× | 4.55× | ||
| Q3 25 | 0.29× | 2.68× | ||
| Q2 25 | 2.02× | 3.27× | ||
| Q1 25 | 3.01× | 1.08× | ||
| Q4 24 | 5.99× | 1.43× | ||
| Q3 24 | 2.41× | 2.69× | ||
| Q2 24 | 2.56× | 3.43× | ||
| Q1 24 | 3.10× | 1.39× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
DUOL
| License And Service | $242.3M | 86% |
| Advertising | $20.2M | 7% |
| English Test | $10.3M | 4% |
| Other | $10.1M | 4% |
MAA
| Same Store | $515.5M | 93% |
| Non Same Store And Other | $36.8M | 7% |
