Duolingo, Inc. (DUOL)财务
NASDAQ · Technology · Software - Application · 员工900人 · CEO Luis Alfonso von Ahn Arellano
- 股价
- $131.59 -3.52%
- 市值
- $61.3亿
- 企业价值
- $50.4亿
- 最近财报
- Q2 '26 2026-08-06提交
- 下次财报
- 2026-11-03 EPS预期 $0.57
营收(TTM)$11.5亿+29.4% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)14.2%+4.5 百分点 对比去年同期营业利润 $1.62亿
净利润(TTM)$4.11亿+250.5% 对比去年同期税后,含营业外收益
自由现金流(TTM)$4.05亿+23.4% 对比去年同期资本支出 $2540万
稀释EPS(TTM)$8.34+247.5% 对比去年同期最近4个季度之和
净现金$12.3亿+22.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $61.3亿 EV $50.4亿
- 营收
- $11.5亿 过去12个月
- 营收增速
- +16% FY2026年一致预期
- 净利润率
- 35.9% 净利润 / 营收,TTM
- P/E
- 14.8× 预期 47.9×(FY2026)
- P/S
- 5.4× 股价 / 营收,TTM
- EV / EBITDA
- 24.4× TTM
- 自由现金流
- $4.05亿 过去12个月
- 净利润
- $4.11亿 过去12个月
- 营收预期
- $12.1亿 FY2026年一致预期
- 盈利
- 2026-11-03 营收预期 $3.03亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-05):营收超预期1.0%,EPS 超预期9.3%营收$2.98亿,预期$2.96亿(+1.0%);EPS $0.66,预期$0.60(+9.3%)。
- 营收增长放缓:同比18.3%Q2 '26营收$2.98亿,此前四个季度的平均值为36.0%。
- 营业利润率14.2%(TTM),较去年同期+4.5 百分点营收增长29.4%,营业利润增长89.1%。
- 税前利润的19.6%来自营业外收益税前利润$2.02亿,营业利润$1.62亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的2.2%(去年为0.9%)最近4个季度投入$2540万(同比+231.6%)。自由现金流$4.05亿,相当于净利润的98.6%。
- 股东回报$6960万 = 自由现金流的17.2%回购$6960万(去年为$0),股息$0,股权激励$1.45亿(TTM)。
- 稀释股数一年内增加2.1%Q2 '26稀释股数5000万,一年前为4900万。
- 净现金 $12.3亿现金 + 短期投资 $13.1亿,含租赁债务 $8610万;一年前净现金 $10亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $2.98亿 | $2.52亿 | +18.3% |
| 毛利率 | 72.6% | 71.8% | +0.8 百分点 |
| 营业利润 | $3390万 | $3410万 | -0.3% |
| 营业利润率 | 11.4% | 13.5% | -2.1 百分点 |
| 净利润 | $3320万 | $4480万 | -26.0% |
| 稀释EPS | $0.66 | $0.91 | -27.5% |
| 经营现金流 | $8830万 | $9070万 | -2.7% |
| 资本支出 | $963万 | $120万 | +703.8% |
| 自由现金流 | $7860万 | $8950万 | -12.1% |
| R&D | $9220万 | $7280万 | +26.6% |
| 股权激励费用 | $3820万 | $3460万 | +10.5% |
实际 vs 一致预期
2026-08-05| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $2.98亿 | $2.96亿 | +1.0% |
| EPS(一致预期口径) | $0.66 | $0.60 | +9.3% |
来自2026-08-05发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| License and Service | $2.58亿 | +22.5% | 86.8% | $9.81亿 | +33.7% | |
| Advertising | $2110万 | +2.2% | 7.1% | $8290万 | +23.4% | |
| English Test | $1010万 | +0.2% | 3.4% | $4140万 | -6.6% | |
| In-App Purchases | $800万 | -23.0% | 2.7% | – | – | |
| Product And Service, Other Miscellaneous | – | – | – | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $4.31亿
- 资本支出
- -$2540万
- 股票回购
- -$6960万
- 股息
- $0
- 收购
- -$3310万
- 债务净发行
- $0
- 股权激励费用
- $1.45亿
- 自由现金流
- $4.05亿
- 股东回报 / FCF
- 17.2%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 14.8× | 275.5× 5年中的3年 | 19.4× – 648.1× |
| EV / EBITDA | 24.4× | 183.2× 5年中的3年 | 36.0× – 395.3× |
| EV / 营收 | 4.4× | 12.7× | 6.0× – 18.5× |
| 股价 / FCF | 15.1× | 185.8× | 21.7× – 727.3× |
| 股价 / 净资产 | 4.4× | 10.5× | 5.2× – 17.1× |
| FCF收益率 | 6.6% | 2.0% | 0.1% – 4.6% |
| 投入资本回报率 | 10.8% | -1.5% | -11.3% – 9.8% |
| 净资产收益率 | 30.1% | 4.2% | -11.7% – 30.7% |
分析师
一致目标价 $141.67 (+7.7%)
区间 $80.00 – $210.00 · 评级 Hold
强烈买入0
买入9
持有13
卖出2
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $12.1亿 | +16.4% | $2.75 | -68.0% | 47.9× | 10 |
| FY2027 | $13.7亿 | +13.5% | $3.38 | +23.1% | 38.9× | 10 |
| FY2028 | $15.6亿 | +13.8% | $4.24 | +25.5% | 31.0× | 12 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Duolingo, Inc.在近期10-Q / 10-K文件中标记的全部214项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| $40万2026-02-26 | – | – | – | – | – | |
| Accounts Payable, Current | $1620万 | $773万 | +109.5% | $800万 | $638万 | +25.3% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $1.31亿 | $1.13亿 | +16.0% | $1.63亿 | $1.29亿 | +26.3% |
| Accounts Receivable, Allowance for Credit Loss | $0 | – | – | – | – | – |
| Accretion (Amortization) of Discounts and Premiums, Investments | $32.1万 | $46.7万 | -31.3% | $185万 | $55.1万 | +235.9% |
| Accrued Income Taxes, Current | $111万 | $2.4万 | +4,508.3% | $126万 | $659万 | -80.9% |
| Accrued Liabilities, Current | $5540万 | $3250万 | +70.8% | $4570万 | $3640万 | +25.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $2420万 | $1900万 | +27.6% | $2160万 | $1640万 | +31.5% |
| Additional Paid in Capital | $10.5亿 | $10.2亿 | +2.3% | $10.6亿 | $9.5亿 | +11.4% |
| Advertising Expense | $2820万 | $1960万 | +43.5% | $8690万 | $6240万 | +39.3% |
| Amortization of Intangible Assets | $289万 | $210万 | +37.3% | – | – | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $3820万 | $3460万 | +10.5% | $1.37亿 | $1.1亿 | +24.4% |
| Asset Impairment Charges | $02026-03-31 | $0 | – | $0 | $0 | – |
| Assets | $20.7亿 | $15.4亿 | +34.4% | $19.9亿 | $13亿 | +53.0% |
| Assets, Current | $15.7亿 | $13.2亿 | +18.7% | $14.4亿 | $11亿 | +30.4% |
| Assets, Fair Value Disclosure | $14.2亿 | $11.7亿 | +20.7% | $12.8亿 | $9.75亿 | +30.8% |
| Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period | – | – | – | $02024-12-31 | – | – |
| Capital Expenditures Incurred but Not yet Paid | $11.9万 | $66.5万 | -82.1% | $445万 | $0 | – |
| Capitalized Computer Software, Additions | $285万2026-03-31 | $131万 | +117.8% | $917万 | $902万 | +1.6% |
| Capitalized Computer Software, Amortization | $284万2026-03-31 | $234万 | +21.3% | $920万 | $589万 | +56.2% |
| Capitalized Computer Software, Gross | $4770万2026-03-31 | – | – | $4480万 | $3570万 | +25.7% |
| Capitalized Computer Software, Impairments | – | – | – | $23.8万2024-12-31 | $0 | – |
| Capitalized Contract Cost, Net, Current | $1.03亿 | $9380万 | +9.5% | $1.03亿 | $8020万 | +28.1% |
| Cash | $1.85亿 | $9050万 | +104.3% | $1.56亿 | $7340万 | +112.5% |
| Cash Acquired from Acquisition | $02025-12-31 | $0 | – | $0 | $5000 | -100.0% |
| Cash and Cash Equivalents, at Carrying Value | $11.8亿 | $9.76亿 | +21.0% | $10.4亿 | $7.86亿 | +31.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $11.8亿 | $9.79亿 | +20.9% | $10.4亿 | $7.89亿 | +31.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $4230万 | $9220万 | -54.1% | $2.51亿 | $3820万 | +556.3% |
| Common Stock, Value, Issued | $5000 | $4000 | +25.0% | $5000 | $4000 | +25.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $3320万 | $4480万 | -26.0% | $4.14亿 | $8860万 | +367.5% |
| Contract with Customer, Liability, Current | $5.05亿 | $4.31亿 | +17.1% | $4.96亿 | $3.73亿 | +33.1% |
| Contract with Customer, Liability, Revenue Recognized | $1.51亿 | $1.12亿 | +33.9% | $3.72亿 | $2.49亿 | +49.8% |
| Cost of Revenue | $8170万 | $6970万 | +17.3% | $2.88亿 | $2.04亿 | +41.5% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$624万 | $1070万 | -158.6% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $163万 | $28.4万 | +473.9% |
| Current Income Tax Expense (Benefit) | – | – | – | -$493万 | $1360万 | -136.3% |
| Current State and Local Tax Expense (Benefit) | – | – | – | -$31.3万 | $264万 | -111.9% |
| Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss | $209万 | $202万 | +3.8% | $210万 | $149万 | +41.2% |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | $2.1万 | $16.1万 | -87.0% | $43.5万 | $2.1万 | +1,971.4% |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | $65.5万 | $13.6万 | +381.6% | $1.9万 | $57.1万 | -96.7% |
| DebtSecuritiesHeldToMaturityAmortizedCostAfterAllowanceForCreditLossCurrent | $1.33亿 | $1.22亿 | +9.3% | $1.04亿 | $9190万 | +13.3% |
| DebtSecuritiesHeldToMaturityExcludingAccruedInterestCreditLossExpenseReversal | $0 | $0 | – | $0 | $0 | – |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$2.08亿 | $0 | – |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$159万 | $15.7万 | -1,110.2% |
| Deferred Income Tax Assets, Net | $2.06亿 | $67.5万 | +30,424.3% | $2.27亿 | $67.5万 | +33,579.9% |
| Deferred Income Tax Expense (Benefit) | $1280万2025-12-31 | $15.7万 | +8,025.5% | -$2.27亿 | $15.7万 | -144,513.4% |
| Deferred Income Tax Liabilities, Net | $24.2万 | $30.2万 | -19.9% | $24.9万 | $29.1万 | -14.4% |
| Deferred Income Taxes and Tax Credits | $1180万 | $0 | – | -$2.25亿 | $0 | – |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$1760万 | $0 | – |
| Deferred Tax Assets, in Process Research and Development | $1.18亿2025-12-31 | $1.91亿 | -38.1% | $1.18亿 | $1.91亿 | -38.1% |
| Deferred Tax Assets, Net | $2.27亿2025-12-31 | $38.4万 | +59,038.0% | $2.27亿 | $38.4万 | +59,038.0% |
| Deferred Tax Assets, Net of Valuation Allowance | $2.52亿2025-12-31 | $1880万 | +1,241.6% | $2.52亿 | $1880万 | +1,241.6% |
| Deferred Tax Assets, Operating Loss Carryforwards | $2750万2025-12-31 | $449万 | +513.2% | $2750万 | $449万 | +513.2% |
| Deferred Tax Assets, Operating Loss Carryforwards, Domestic | $1.11亿2025-12-31 | – | – | $1.11亿 | – | – |
| Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $7240万2025-12-31 | – | – | $7240万 | – | – |
| Deferred Tax Assets, Other | $51.6万2025-12-31 | $7万 | +637.1% | $51.6万 | $7万 | +637.1% |
| Deferred Tax Assets, Tax Credit Carryforwards, General Business | $7640万2025-12-31 | – | – | $7640万 | – | – |
| Deferred Tax Assets, Tax Credit Carryforwards, Research | $7490万2025-12-31 | $6120万 | +22.5% | $7490万 | $6120万 | +22.5% |
| Deferred Tax Assets, Tax Deferred Expense | $112万2025-12-31 | $67.4万 | +66.8% | $112万 | $67.4万 | +66.8% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $688万2025-12-31 | $476万 | +44.7% | $688万 | $476万 | +44.7% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-02