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AMERICAN STATES WATER CO（AWR）与DigitalOcean Holdings, Inc.（DOCN）财务数据对比。点击上方公司名可切换其他公司
DigitalOcean Holdings, Inc.的季度营收约是AMERICAN STATES WATER CO的1.5倍（$242.4M vs $164.3M），AMERICAN STATES WATER CO净利率更高（17.5% vs 10.6%，领先6.9%），DigitalOcean Holdings, Inc.同比增速更快（18.3% vs 14.8%），DigitalOcean Holdings, Inc.自由现金流更多（$31.1M vs $-36.0M），过去两年DigitalOcean Holdings, Inc.的营收复合增速更高（14.5% vs 10.2%）
美国州水公司是美国的上市公用事业企业，通过旗下子公司在全美范围内提供自来水供应及污水处理相关服务，服务覆盖居民、商业及公共机构等多元客户群体，是当地水务服务领域的重要参与企业。
DigitalOcean Holdings, Inc.是美国跨国科技企业及云服务提供商，总部位于美国科罗拉多州布鲁姆菲尔德，在全球布局15个数据中心，面向开发者、初创企业及中小微企业提供稳定易用的云基础设施即服务平台，助力各类技术团队高效开展业务。
AWR vs DOCN — 直观对比
营收规模更大
DOCN
是对方的1.5倍
$164.3M
营收增速更快
DOCN
高出3.5%
14.8%
净利率更高
AWR
高出6.9%
10.6%
自由现金流更多
DOCN
多$67.1M
$-36.0M
两年增速更快
DOCN
近两年复合增速
10.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $164.3M | $242.4M |
| 净利润 | $28.7M | $25.7M |
| 毛利率 | 88.9% | 58.7% |
| 营业利润率 | 27.4% | 16.0% |
| 净利率 | 17.5% | 10.6% |
| 营收同比 | 14.8% | 18.3% |
| 净利润同比 | 1.1% | 40.5% |
| 每股收益（稀释后） | $0.74 | $0.23 |
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AWRDOCN
| Q4 25 | $164.3M | $242.4M | ||
| Q3 25 | $182.7M | $229.6M | ||
| Q2 25 | $163.1M | $218.7M | ||
| Q1 25 | $148.0M | $210.7M | ||
| Q4 24 | $143.1M | $204.9M | ||
| Q3 24 | $161.8M | $198.5M | ||
| Q2 24 | $155.3M | $192.5M | ||
| Q1 24 | $135.3M | $184.7M |
净利润AWRDOCN
| Q4 25 | $28.7M | $25.7M | ||
| Q3 25 | $41.2M | $158.4M | ||
| Q2 25 | $33.7M | $37.0M | ||
| Q1 25 | $26.8M | $38.2M | ||
| Q4 24 | $28.4M | $18.3M | ||
| Q3 24 | $35.8M | $32.9M | ||
| Q2 24 | $31.9M | $19.1M | ||
| Q1 24 | $23.1M | $14.1M |
毛利率AWRDOCN
| Q4 25 | 88.9% | 58.7% | ||
| Q3 25 | 91.0% | 59.6% | ||
| Q2 25 | 92.1% | 59.9% | ||
| Q1 25 | 91.3% | 61.4% | ||
| Q4 24 | 92.4% | 57.1% | ||
| Q3 24 | 92.7% | 60.2% | ||
| Q2 24 | 89.6% | 61.0% | ||
| Q1 24 | 88.4% | 60.7% |
营业利润率AWRDOCN
| Q4 25 | 27.4% | 16.0% | ||
| Q3 25 | 33.8% | 19.6% | ||
| Q2 25 | 31.3% | 16.3% | ||
| Q1 25 | 30.8% | 17.9% | ||
| Q4 24 | 27.0% | 15.9% | ||
| Q3 24 | 34.0% | 12.4% | ||
| Q2 24 | 33.3% | 11.6% | ||
| Q1 24 | 28.8% | 6.2% |
净利率AWRDOCN
| Q4 25 | 17.5% | 10.6% | ||
| Q3 25 | 22.5% | 69.0% | ||
| Q2 25 | 20.7% | 16.9% | ||
| Q1 25 | 18.1% | 18.1% | ||
| Q4 24 | 19.9% | 8.9% | ||
| Q3 24 | 22.1% | 16.6% | ||
| Q2 24 | 20.5% | 9.9% | ||
| Q1 24 | 17.1% | 7.7% |
每股收益（稀释后）AWRDOCN
| Q4 25 | $0.74 | $0.23 | ||
| Q3 25 | $1.06 | $1.51 | ||
| Q2 25 | $0.87 | $0.39 | ||
| Q1 25 | $0.70 | $0.39 | ||
| Q4 24 | $0.75 | $0.21 | ||
| Q3 24 | $0.95 | $0.33 | ||
| Q2 24 | $0.85 | $0.20 | ||
| Q1 24 | $0.62 | $0.15 |
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 | $18.8M | $254.5M |
| 总债务越低越好 | $782.7M | $1.3B |
| 股东权益账面价值 | $1.0B | $-28.7M |
| 总资产 | $2.7B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.75× | — |
8季度趋势，按日历期对齐
现金及短期投资AWRDOCN
| Q4 25 | $18.8M | $254.5M | ||
| Q3 25 | $26.1M | $236.6M | ||
| Q2 25 | $20.2M | $387.7M | ||
| Q1 25 | $21.2M | $360.4M | ||
| Q4 24 | $26.7M | $428.4M | ||
| Q3 24 | $16.5M | $439.9M | ||
| Q2 24 | $3.6M | $443.1M | ||
| Q1 24 | $17.0M | $419.1M |
总债务AWRDOCN
| Q4 25 | $782.7M | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AWRDOCN
| Q4 25 | $1.0B | $-28.7M | ||
| Q3 25 | $1.0B | $-69.6M | ||
| Q2 25 | $972.5M | $-175.2M | ||
| Q1 25 | $956.4M | $-210.7M | ||
| Q4 24 | $920.1M | $-203.0M | ||
| Q3 24 | $879.5M | $-211.7M | ||
| Q2 24 | $833.5M | $-253.8M | ||
| Q1 24 | $800.5M | $-286.1M |
总资产AWRDOCN
| Q4 25 | $2.7B | $1.8B | ||
| Q3 25 | $2.7B | $1.7B | ||
| Q2 25 | $2.6B | $1.7B | ||
| Q1 25 | $2.5B | $1.6B | ||
| Q4 24 | $2.5B | $1.6B | ||
| Q3 24 | $2.4B | $1.5B | ||
| Q2 24 | $2.3B | $1.5B | ||
| Q1 24 | $2.3B | $1.5B |
负债/权益比AWRDOCN
| Q4 25 | 0.75× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $27.7M | $57.3M |
| 自由现金流经营现金流 - 资本支出 | $-36.0M | $31.1M |
| 自由现金流率自由现金流/营收 | -21.9% | 12.8% |
| 资本支出强度资本支出/营收 | 38.8% | 10.8% |
| 现金转化率经营现金流/净利润 | 0.96× | 2.23× |
| 过去12个月自由现金流最近4个季度 | $-7.1M | $180.5M |
8季度趋势，按日历期对齐
经营现金流AWRDOCN
| Q4 25 | $27.7M | $57.3M | ||
| Q3 25 | $92.4M | $95.8M | ||
| Q2 25 | $64.6M | $92.4M | ||
| Q1 25 | $45.1M | $64.1M | ||
| Q4 24 | $64.5M | $71.3M | ||
| Q3 24 | $63.7M | $73.4M | ||
| Q2 24 | $24.7M | $71.3M | ||
| Q1 24 | $45.8M | $66.7M |
自由现金流AWRDOCN
| Q4 25 | $-36.0M | $31.1M | ||
| Q3 25 | $37.7M | $88.0M | ||
| Q2 25 | $13.7M | $59.3M | ||
| Q1 25 | $-22.5M | $2.1M | ||
| Q4 24 | $6.0M | $26.1M | ||
| Q3 24 | $-478.0K | $16.0M | ||
| Q2 24 | $-37.0M | $39.5M | ||
| Q1 24 | $-1.7M | $23.0M |
自由现金流率AWRDOCN
| Q4 25 | -21.9% | 12.8% | ||
| Q3 25 | 20.7% | 38.3% | ||
| Q2 25 | 8.4% | 27.1% | ||
| Q1 25 | -15.2% | 1.0% | ||
| Q4 24 | 4.2% | 12.7% | ||
| Q3 24 | -0.3% | 8.1% | ||
| Q2 24 | -23.8% | 20.5% | ||
| Q1 24 | -1.3% | 12.5% |
资本支出强度AWRDOCN
| Q4 25 | 38.8% | 10.8% | ||
| Q3 25 | 29.9% | 3.4% | ||
| Q2 25 | 31.2% | 15.2% | ||
| Q1 25 | 45.6% | 29.4% | ||
| Q4 24 | 40.9% | 22.1% | ||
| Q3 24 | 39.7% | 28.9% | ||
| Q2 24 | 39.8% | 16.6% | ||
| Q1 24 | 35.2% | 23.6% |
现金转化率AWRDOCN
| Q4 25 | 0.96× | 2.23× | ||
| Q3 25 | 2.24× | 0.60× | ||
| Q2 25 | 1.92× | 2.50× | ||
| Q1 25 | 1.68× | 1.68× | ||
| Q4 24 | 2.27× | 3.91× | ||
| Q3 24 | 1.78× | 2.23× | ||
| Q2 24 | 0.78× | 3.73× | ||
| Q1 24 | 1.98× | 4.72× |
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
AWR
| Water Service Utility Operations | $110.0M | 67% |
| Public Utilities Inventory Water | $22.3M | 14% |
| Wastewater | $15.9M | 10% |
| Electric Service Utility Operations | $15.2M | 9% |
DOCN
| Scalers | $84.3M | 35% |
| Scalers Plus | $69.9M | 29% |
| Builders | $64.1M | 26% |
| Learners Testers And Other | $24.1M | 10% |
