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APPFOLIO INC（APPF）与DOCUSIGN, INC.（DOCU）财务数据对比。点击上方公司名可切换其他公司
DOCUSIGN, INC.的季度营收约是APPFOLIO INC的3.1倍（$818.4M vs $262.2M），APPFOLIO INC净利率更高（16.2% vs 10.2%，领先5.9%），APPFOLIO INC同比增速更快（20.4% vs 8.4%）
AppFolio Inc.是一家2006年成立的美国企业，专注服务房地产行业，为客户提供软件即服务（SaaS）类应用产品及相关配套服务，助力房地产相关经营主体优化管理流程、提升运营效率。
DocuSign是总部位于美国加利福尼亚州旧金山的软件企业，为各类机构提供多设备支持的电子协议管理及电子签名相关产品。截至2025年，公司在180个国家拥有约170万客户，其处理的签名符合美国ESIGN法案、欧盟eIDAS法规要求，满足欧盟高级及合格签名标准。
APPF vs DOCU — 直观对比
营收规模更大
DOCU
是对方的3.1倍
$262.2M
营收增速更快
APPF
高出12.0%
8.4%
净利率更高
APPF
高出5.9%
10.2%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $262.2M | $818.4M |
| 净利润 | $42.4M | $83.7M |
| 毛利率 | — | 79.2% |
| 营业利润率 | 19.4% | 10.4% |
| 净利率 | 16.2% | 10.2% |
| 营收同比 | 20.4% | 8.4% |
| 净利润同比 | 35.2% | 34.1% |
| 每股收益（稀释后） | $1.18 | $0.40 |
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APPFDOCU
| Q1 26 | $262.2M | — | ||
| Q4 25 | $248.2M | $818.4M | ||
| Q3 25 | $249.4M | $800.6M | ||
| Q2 25 | $235.6M | $763.7M | ||
| Q1 25 | $217.7M | — | ||
| Q4 24 | $203.7M | — | ||
| Q3 24 | $205.7M | — | ||
| Q2 24 | $197.4M | — |
净利润APPFDOCU
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $83.7M | ||
| Q3 25 | $33.6M | $63.0M | ||
| Q2 25 | $36.0M | $72.1M | ||
| Q1 25 | $31.4M | — | ||
| Q4 24 | $102.7M | — | ||
| Q3 24 | $33.0M | — | ||
| Q2 24 | $29.7M | — |
毛利率APPFDOCU
| Q1 26 | — | — | ||
| Q4 25 | — | 79.2% | ||
| Q3 25 | — | 79.3% | ||
| Q2 25 | — | 79.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率APPFDOCU
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 10.4% | ||
| Q3 25 | 14.1% | 8.1% | ||
| Q2 25 | 17.2% | 7.9% | ||
| Q1 25 | 15.5% | — | ||
| Q4 24 | 11.3% | — | ||
| Q3 24 | 20.7% | — | ||
| Q2 24 | 18.3% | — |
净利率APPFDOCU
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 10.2% | ||
| Q3 25 | 13.5% | 7.9% | ||
| Q2 25 | 15.3% | 9.4% | ||
| Q1 25 | 14.4% | — | ||
| Q4 24 | 50.4% | — | ||
| Q3 24 | 16.0% | — | ||
| Q2 24 | 15.0% | — |
每股收益（稀释后）APPFDOCU
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $0.40 | ||
| Q3 25 | $0.93 | $0.30 | ||
| Q2 25 | $0.99 | $0.34 | ||
| Q1 25 | $0.86 | — | ||
| Q4 24 | $2.79 | — | ||
| Q3 24 | $0.90 | — | ||
| Q2 24 | $0.81 | — |
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 | $147.4M | $583.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $470.2M | $2.0B |
| 总资产 | $580.6M | $4.0B |
| 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APPFDOCU
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $583.3M | ||
| Q3 25 | $76.1M | $600.0M | ||
| Q2 25 | $73.5M | $657.4M | ||
| Q1 25 | $56.9M | — | ||
| Q4 24 | $42.5M | — | ||
| Q3 24 | $62.4M | — | ||
| Q2 24 | $59.6M | — |
股东权益APPFDOCU
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $2.0B | ||
| Q3 25 | $498.9M | $2.0B | ||
| Q2 25 | $455.6M | $2.0B | ||
| Q1 25 | $462.1M | — | ||
| Q4 24 | $519.3M | — | ||
| Q3 24 | $412.8M | — | ||
| Q2 24 | $371.4M | — |
总资产APPFDOCU
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $4.0B | ||
| Q3 25 | $640.5M | $3.9B | ||
| Q2 25 | $567.4M | $3.9B | ||
| Q1 25 | $564.7M | — | ||
| Q4 24 | $626.7M | — | ||
| Q3 24 | $523.3M | — | ||
| Q2 24 | $479.3M | — |
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 | $34.3M | $290.3M |
| 自由现金流经营现金流 - 资本支出 | — | $262.9M |
| 自由现金流率自由现金流/营收 | — | 32.1% |
| 资本支出强度资本支出/营收 | — | 3.3% |
| 现金转化率经营现金流/净利润 | 0.81× | 3.47× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流APPFDOCU
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $290.3M | ||
| Q3 25 | $86.0M | $246.1M | ||
| Q2 25 | $52.6M | $251.4M | ||
| Q1 25 | $38.5M | — | ||
| Q4 24 | $36.6M | — | ||
| Q3 24 | $57.8M | — | ||
| Q2 24 | $50.9M | — |
自由现金流APPFDOCU
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $262.9M | ||
| Q3 25 | $84.7M | $217.6M | ||
| Q2 25 | $52.4M | $227.8M | ||
| Q1 25 | $38.2M | — | ||
| Q4 24 | $36.4M | — | ||
| Q3 24 | $57.4M | — | ||
| Q2 24 | $50.8M | — |
自由现金流率APPFDOCU
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 32.1% | ||
| Q3 25 | 34.0% | 27.2% | ||
| Q2 25 | 22.2% | 29.8% | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 17.9% | — | ||
| Q3 24 | 27.9% | — | ||
| Q2 24 | 25.8% | — |
资本支出强度APPFDOCU
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 3.3% | ||
| Q3 25 | 0.5% | 3.6% | ||
| Q2 25 | 0.1% | 3.1% | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.0% | — |
现金转化率APPFDOCU
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 3.47× | ||
| Q3 25 | 2.56× | 3.91× | ||
| Q2 25 | 1.46× | 3.49× | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 1.75× | — | ||
| Q2 24 | 1.71× | — |
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
APPF
| Value Added Services | $164.7M | 63% |
| Subscription Services | $58.2M | 22% |
| Other | $39.3M | 15% |
DOCU
| Subscription And Circulation | $801.0M | 98% |
| Professional Services And Other | $17.4M | 2% |
