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Alexandria Real Estate Equities（ARE）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Alexandria Real Estate Equities的1.2倍（$818.4M vs $671.0M），Alexandria Real Estate Equities净利率更高（59.4% vs 10.2%，领先49.1%），DOCUSIGN, INC.同比增速更快（8.4% vs -11.5%）
Alexandria Real Estate Equities（NYSE:ARE）是标普500成分股中的城市办公类房地产投资信托，作为业内首创、运营经验最丰富的先行企业，专注于在顶级创新集群区域开发、运营生命科学、科技及农业科技协作型产业园区。截至2020年12月末，公司总市值达319亿美元，北美地区资产总面积达4970万平方英尺。
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。
ARE vs DOCU — 直观对比
营收规模更大
DOCU
是对方的1.2倍
$671.0M
营收增速更快
DOCU
高出19.9%
-11.5%
净利率更高
ARE
高出49.1%
10.2%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $671.0M | $818.4M |
| 净利润 | $398.4M | $83.7M |
| 毛利率 | — | 79.2% |
| 营业利润率 | — | 10.4% |
| 净利率 | 59.4% | 10.2% |
| 营收同比 | -11.5% | 8.4% |
| 净利润同比 | 740.6% | 34.1% |
| 每股收益（稀释后） | $2.10 | $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AREDOCU
| Q1 26 | $671.0M | — | ||
| Q4 25 | $754.4M | $818.4M | ||
| Q3 25 | $751.9M | $800.6M | ||
| Q2 25 | $762.0M | $763.7M | ||
| Q1 25 | $758.2M | — | ||
| Q4 24 | $788.9M | — | ||
| Q3 24 | $791.6M | — | ||
| Q2 24 | $766.7M | — |
净利润AREDOCU
| Q1 26 | $398.4M | — | ||
| Q4 25 | $-1.1B | $83.7M | ||
| Q3 25 | $-232.8M | $63.0M | ||
| Q2 25 | $-107.0M | $72.1M | ||
| Q1 25 | $-8.9M | — | ||
| Q4 24 | $-62.2M | — | ||
| Q3 24 | $167.9M | — | ||
| Q2 24 | $46.7M | — |
毛利率AREDOCU
| 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AREDOCU
| Q1 26 | — | — | ||
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | 8.1% | ||
| Q2 25 | — | 7.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
净利率AREDOCU
| Q1 26 | 59.4% | — | ||
| Q4 25 | -143.3% | 10.2% | ||
| Q3 25 | -31.0% | 7.9% | ||
| Q2 25 | -14.0% | 9.4% | ||
| Q1 25 | -1.2% | — | ||
| Q4 24 | -7.9% | — | ||
| Q3 24 | 21.2% | — | ||
| Q2 24 | 6.1% | — |
每股收益（稀释后）AREDOCU
| Q1 26 | $2.10 | — | ||
| Q4 25 | $-6.35 | $0.40 | ||
| Q3 25 | $-1.38 | $0.30 | ||
| Q2 25 | $-0.64 | $0.34 | ||
| Q1 25 | $-0.07 | — | ||
| Q4 24 | $-0.38 | — | ||
| Q3 24 | $0.96 | — | ||
| Q2 24 | $0.25 | — |
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 | $418.7M | $583.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $19.4B | $2.0B |
| 总资产 | $34.2B | $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AREDOCU
| Q1 26 | $418.7M | — | ||
| Q4 25 | $549.1M | $583.3M | ||
| Q3 25 | $579.5M | $600.0M | ||
| Q2 25 | $520.5M | $657.4M | ||
| Q1 25 | $476.4M | — | ||
| Q4 24 | $552.1M | — | ||
| Q3 24 | $562.6M | — | ||
| Q2 24 | $561.0M | — |
总债务AREDOCU
| Q1 26 | — | — | ||
| Q4 25 | $12.4B | — | ||
| Q3 25 | $13.6B | — | ||
| Q2 25 | $13.3B | — | ||
| Q1 25 | $13.1B | — | ||
| Q4 24 | $12.2B | — | ||
| Q3 24 | $12.7B | — | ||
| Q2 24 | $12.4B | — |
股东权益AREDOCU
| Q1 26 | $19.4B | — | ||
| Q4 25 | $15.5B | $2.0B | ||
| Q3 25 | $16.6B | $2.0B | ||
| Q2 25 | $17.2B | $2.0B | ||
| Q1 25 | $17.5B | — | ||
| Q4 24 | $17.9B | — | ||
| Q3 24 | $18.2B | — | ||
| Q2 24 | $18.3B | — |
总资产AREDOCU
| Q1 26 | $34.2B | — | ||
| Q4 25 | $34.1B | $4.0B | ||
| Q3 25 | $37.4B | $3.9B | ||
| Q2 25 | $37.6B | $3.9B | ||
| Q1 25 | $37.6B | — | ||
| Q4 24 | $37.5B | — | ||
| Q3 24 | $38.5B | — | ||
| Q2 24 | $37.8B | — |
负债/权益比AREDOCU
| Q1 26 | — | — | ||
| Q4 25 | 0.80× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.77× | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.68× | — |
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 | $196.6M | $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 | 76.0% | 3.3% |
| 现金转化率经营现金流/净利润 | 0.49× | 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AREDOCU
| Q1 26 | $196.6M | — | ||
| Q4 25 | $312.4M | $290.3M | ||
| Q3 25 | $433.5M | $246.1M | ||
| Q2 25 | $460.2M | $251.4M | ||
| Q1 25 | $207.9M | — | ||
| Q4 24 | $274.2M | — | ||
| Q3 24 | $477.4M | — | ||
| Q2 24 | $411.8M | — |
自由现金流AREDOCU
| Q1 26 | — | — | ||
| Q4 25 | — | $262.9M | ||
| Q3 25 | — | $217.6M | ||
| Q2 25 | — | $227.8M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流率AREDOCU
| Q1 26 | — | — | ||
| Q4 25 | — | 32.1% | ||
| Q3 25 | — | 27.2% | ||
| Q2 25 | — | 29.8% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资本支出强度AREDOCU
| Q1 26 | 76.0% | — | ||
| Q4 25 | — | 3.3% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率AREDOCU
| Q1 26 | 0.49× | — | ||
| Q4 25 | — | 3.47× | ||
| Q3 25 | — | 3.91× | ||
| Q2 25 | — | 3.49× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.84× | — | ||
| Q2 24 | 8.82× | — |
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
ARE
| Same properties | $431.4M | 64% |
| Tenant recoveries | $178.2M | 27% |
| Non-same properties | $43.3M | 6% |
| Other | $18.0M | 3% |
DOCU
| Subscription And Circulation | $801.0M | 98% |
| Professional Services And Other | $17.4M | 2% |
