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Snap Inc（SNAP）与Trade Desk (The)（TTD）财务数据对比。点击上方公司名可切换其他公司
Snap Inc的季度营收约是Trade Desk (The)的2.0倍（$1.7B vs $846.8M）。Trade Desk (The)净利率更高（22.1% vs 2.6%，领先19.4%）。Trade Desk (The)同比增速更快（14.3% vs 10.2%）。Trade Desk (The)自由现金流更多（$285.3M vs $205.6M）。过去两年Trade Desk (The)的营收复合增速更高（31.3% vs 19.9%）
Snap Inc.是一家美国科技企业，2011年9月16日由埃文·斯皮格尔、鲍比·墨菲和雷吉·布朗联合创立，总部位于加利福尼亚州圣莫尼卡。公司核心产品包括社交应用Snapchat、智能眼镜Spectacles、虚拟形象工具Bitmoji以及营销推广解决方案SnapBoost，2016年9月24日由原Snapchat Inc.更名为现名，覆盖社交、智能硬件等多元业务领域。
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
SNAP vs TTD — 直观对比
营收规模更大
SNAP
是对方的2.0倍
$846.8M
营收增速更快
TTD
高出4.1%
10.2%
净利率更高
TTD
高出19.4%
2.6%
自由现金流更多
TTD
多$79.7M
$205.6M
两年增速更快
TTD
近两年复合增速
19.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $846.8M |
| 净利润 | $45.2M | $186.9M |
| 毛利率 | 59.1% | 80.7% |
| 营业利润率 | 2.9% | 30.3% |
| 净利率 | 2.6% | 22.1% |
| 营收同比 | 10.2% | 14.3% |
| 净利润同比 | 396.7% | 2.6% |
| 每股收益（稀释后） | $0.03 | $0.39 |
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SNAPTTD
| Q4 25 | $1.7B | $846.8M | ||
| Q3 25 | $1.5B | $739.4M | ||
| Q2 25 | $1.3B | $694.0M | ||
| Q1 25 | $1.4B | $616.0M | ||
| Q4 24 | $1.6B | $741.0M | ||
| Q3 24 | $1.4B | $628.0M | ||
| Q2 24 | $1.2B | $584.5M | ||
| Q1 24 | $1.2B | $491.3M |
净利润SNAPTTD
| Q4 25 | $45.2M | $186.9M | ||
| Q3 25 | $-103.5M | $115.5M | ||
| Q2 25 | $-262.6M | $90.1M | ||
| Q1 25 | $-139.6M | $50.7M | ||
| Q4 24 | $9.1M | $182.2M | ||
| Q3 24 | $-153.2M | $94.2M | ||
| Q2 24 | $-248.6M | $85.0M | ||
| Q1 24 | $-305.1M | $31.7M |
毛利率SNAPTTD
| Q4 25 | 59.1% | 80.7% | ||
| Q3 25 | 55.3% | 78.1% | ||
| Q2 25 | 51.4% | 78.2% | ||
| Q1 25 | 53.1% | 76.8% | ||
| Q4 24 | 56.9% | 81.7% | ||
| Q3 24 | 53.5% | 80.5% | ||
| Q2 24 | 52.4% | 81.1% | ||
| Q1 24 | 51.9% | 78.9% |
营业利润率SNAPTTD
| Q4 25 | 2.9% | 30.3% | ||
| Q3 25 | -8.5% | 21.8% | ||
| Q2 25 | -19.3% | 16.8% | ||
| Q1 25 | -14.2% | 8.8% | ||
| Q4 24 | -1.7% | 26.4% | ||
| Q3 24 | -12.6% | 17.3% | ||
| Q2 24 | -20.5% | 16.2% | ||
| Q1 24 | -27.9% | 5.8% |
净利率SNAPTTD
| Q4 25 | 2.6% | 22.1% | ||
| Q3 25 | -6.9% | 15.6% | ||
| Q2 25 | -19.5% | 13.0% | ||
| Q1 25 | -10.2% | 8.2% | ||
| Q4 24 | 0.6% | 24.6% | ||
| Q3 24 | -11.2% | 15.0% | ||
| Q2 24 | -20.1% | 14.5% | ||
| Q1 24 | -25.5% | 6.4% |
每股收益（稀释后）SNAPTTD
| Q4 25 | $0.03 | $0.39 | ||
| Q3 25 | $-0.06 | $0.23 | ||
| Q2 25 | $-0.16 | $0.18 | ||
| Q1 25 | $-0.08 | $0.10 | ||
| Q4 24 | $0.01 | $0.36 | ||
| Q3 24 | $-0.09 | $0.19 | ||
| Q2 24 | $-0.15 | $0.17 | ||
| Q1 24 | $-0.19 | $0.06 |
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 | $2.9B | $1.3B |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.3B | $2.5B |
| 总资产 | $7.7B | $6.2B |
| 负债/权益比越低杠杆越低 | 1.55× | — |
8季度趋势，按日历期对齐
现金及短期投资SNAPTTD
| Q4 25 | $2.9B | $1.3B | ||
| Q3 25 | $3.0B | $1.4B | ||
| Q2 25 | $2.9B | $1.7B | ||
| Q1 25 | $3.2B | $1.7B | ||
| Q4 24 | $3.4B | $1.9B | ||
| Q3 24 | $3.2B | $1.7B | ||
| Q2 24 | $3.1B | $1.5B | ||
| Q1 24 | $2.9B | $1.4B |
总债务SNAPTTD
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.5B | — | ||
| Q2 25 | $3.6B | — | ||
| Q1 25 | $3.6B | — | ||
| Q4 24 | $3.6B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.6B | — | ||
| Q1 24 | $3.3B | — |
股东权益SNAPTTD
| Q4 25 | $2.3B | $2.5B | ||
| Q3 25 | $2.2B | $2.6B | ||
| Q2 25 | $2.1B | $2.7B | ||
| Q1 25 | $2.3B | $2.7B | ||
| Q4 24 | $2.5B | $2.9B | ||
| Q3 24 | $2.2B | $2.6B | ||
| Q2 24 | $2.1B | $2.4B | ||
| Q1 24 | $2.1B | $2.2B |
总资产SNAPTTD
| Q4 25 | $7.7B | $6.2B | ||
| Q3 25 | $7.6B | $5.9B | ||
| Q2 25 | $7.4B | $6.0B | ||
| Q1 25 | $7.6B | $5.7B | ||
| Q4 24 | $7.9B | $6.1B | ||
| Q3 24 | $7.6B | $5.5B | ||
| Q2 24 | $7.4B | $5.2B | ||
| Q1 24 | $7.2B | $4.7B |
负债/权益比SNAPTTD
| Q4 25 | 1.55× | — | ||
| Q3 25 | 1.59× | — | ||
| Q2 25 | 1.73× | — | ||
| Q1 25 | 1.56× | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 1.65× | — | ||
| Q2 24 | 1.76× | — | ||
| Q1 24 | 1.55× | — |
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 | $269.6M | $311.6M |
| 自由现金流经营现金流 - 资本支出 | $205.6M | $285.3M |
| 自由现金流率自由现金流/营收 | 12.0% | 33.7% |
| 资本支出强度资本支出/营收 | 3.7% | 3.1% |
| 现金转化率经营现金流/净利润 | 5.96× | 1.67× |
| 过去12个月自由现金流最近4个季度 | $437.2M | $795.7M |
8季度趋势，按日历期对齐
经营现金流SNAPTTD
| Q4 25 | $269.6M | $311.6M | ||
| Q3 25 | $146.5M | $224.7M | ||
| Q2 25 | $88.5M | $165.0M | ||
| Q1 25 | $151.6M | $291.4M | ||
| Q4 24 | $230.6M | $199.4M | ||
| Q3 24 | $115.9M | $273.3M | ||
| Q2 24 | $-21.4M | $81.3M | ||
| Q1 24 | $88.4M | $185.5M |
自由现金流SNAPTTD
| Q4 25 | $205.6M | $285.3M | ||
| Q3 25 | $93.4M | $158.3M | ||
| Q2 25 | $23.8M | $119.8M | ||
| Q1 25 | $114.4M | $232.3M | ||
| Q4 24 | $182.4M | $179.2M | ||
| Q3 24 | $71.8M | $224.6M | ||
| Q2 24 | $-73.4M | $59.1M | ||
| Q1 24 | $37.9M | $178.2M |
自由现金流率SNAPTTD
| Q4 25 | 12.0% | 33.7% | ||
| Q3 25 | 6.2% | 21.4% | ||
| Q2 25 | 1.8% | 17.3% | ||
| Q1 25 | 8.4% | 37.7% | ||
| Q4 24 | 11.7% | 24.2% | ||
| Q3 24 | 5.2% | 35.8% | ||
| Q2 24 | -5.9% | 10.1% | ||
| Q1 24 | 3.2% | 36.3% |
资本支出强度SNAPTTD
| Q4 25 | 3.7% | 3.1% | ||
| Q3 25 | 3.5% | 9.0% | ||
| Q2 25 | 4.8% | 6.5% | ||
| Q1 25 | 2.7% | 9.6% | ||
| Q4 24 | 3.1% | 2.7% | ||
| Q3 24 | 3.2% | 7.8% | ||
| Q2 24 | 4.2% | 3.8% | ||
| Q1 24 | 4.2% | 1.5% |
现金转化率SNAPTTD
| Q4 25 | 5.96× | 1.67× | ||
| Q3 25 | — | 1.94× | ||
| Q2 25 | — | 1.83× | ||
| Q1 25 | — | 5.75× | ||
| Q4 24 | 25.34× | 1.09× | ||
| Q3 24 | — | 2.90× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | 5.86× |
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
SNAP
| Advertising Revenue | $1.5B | 86% |
| Other Revenue | $231.9M | 14% |
TTD
暂无分部数据
