vs
Axos Financial, Inc.（AX）与DROPBOX, INC.（DBX）财务数据对比。点击上方公司名可切换其他公司
DROPBOX, INC.的季度营收约是Axos Financial, Inc.的1.6倍（$636.2M vs $392.2M），Axos Financial, Inc.净利率更高（31.8% vs 17.1%，领先14.7%），过去两年Axos Financial, Inc.的营收复合增速更高（16.1% vs 0.4%）
Axos Financial是总部位于美国内华达州拉斯维加斯的银行控股公司，旗下拥有直销银行Axos Bank，同时提供注册投资顾问服务及电子交易平台，深耕数字化金融赛道，可为用户提供多元便捷的金融服务解决方案。
Dropbox是总部位于美国加利福尼亚州旧金山的云服务企业，2007年由麻省理工学院学生德鲁·休斯顿与阿拉什·费尔多西创立，初创阶段获得创业孵化器Y Combinator的种子投资，核心业务包含云存储、文件同步、个人云及配套客户端软件等服务。
AX vs DBX — 直观对比
营收规模更大
DBX
是对方的1.6倍
$392.2M
净利率更高
AX
高出14.7%
17.1%
两年增速更快
AX
近两年复合增速
0.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $392.2M | $636.2M |
| 净利润 | $124.7M | $108.7M |
| 毛利率 | — | 79.2% |
| 营业利润率 | — | 25.5% |
| 净利率 | 31.8% | 17.1% |
| 营收同比 | — | -1.1% |
| 净利润同比 | 18.5% | 5.7% |
| 每股收益（稀释后） | $2.15 | $0.43 |
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AXDBX
| Q1 26 | $392.2M | — | ||
| Q4 25 | $385.1M | $636.2M | ||
| Q3 25 | $323.4M | $634.4M | ||
| Q2 25 | $321.4M | $625.7M | ||
| Q1 25 | $308.8M | $624.7M | ||
| Q4 24 | $307.9M | $643.6M | ||
| Q3 24 | $320.7M | $638.8M | ||
| Q2 24 | $290.9M | $634.5M |
净利润AXDBX
| Q1 26 | $124.7M | — | ||
| Q4 25 | $128.4M | $108.7M | ||
| Q3 25 | $112.4M | $123.8M | ||
| Q2 25 | $110.7M | $125.6M | ||
| Q1 25 | $105.2M | $150.3M | ||
| Q4 24 | $104.7M | $102.8M | ||
| Q3 24 | $112.3M | $106.7M | ||
| Q2 24 | $104.9M | $110.5M |
毛利率AXDBX
| Q1 26 | — | — | ||
| Q4 25 | — | 79.2% | ||
| Q3 25 | — | 79.8% | ||
| Q2 25 | — | 80.2% | ||
| Q1 25 | — | 81.3% | ||
| Q4 24 | — | 81.2% | ||
| Q3 24 | — | 82.5% | ||
| Q2 24 | — | 83.1% |
营业利润率AXDBX
| Q1 26 | — | — | ||
| Q4 25 | 45.6% | 25.5% | ||
| Q3 25 | 46.3% | 27.5% | ||
| Q2 25 | 48.5% | 26.9% | ||
| Q1 25 | 47.9% | 29.4% | ||
| Q4 24 | 48.8% | 13.7% | ||
| Q3 24 | 49.6% | 20.0% | ||
| Q2 24 | 49.6% | 20.0% |
净利率AXDBX
| Q1 26 | 31.8% | — | ||
| Q4 25 | 33.3% | 17.1% | ||
| Q3 25 | 34.7% | 19.5% | ||
| Q2 25 | 34.4% | 20.1% | ||
| Q1 25 | 34.1% | 24.1% | ||
| Q4 24 | 34.0% | 16.0% | ||
| Q3 24 | 35.0% | 16.7% | ||
| Q2 24 | 36.0% | 17.4% |
每股收益（稀释后）AXDBX
| Q1 26 | $2.15 | — | ||
| Q4 25 | $2.22 | $0.43 | ||
| Q3 25 | $1.94 | $0.47 | ||
| Q2 25 | $1.89 | $0.45 | ||
| Q1 25 | $1.81 | $0.51 | ||
| Q4 24 | $1.80 | $0.33 | ||
| Q3 24 | $1.93 | $0.34 | ||
| Q2 24 | $1.75 | $0.34 |
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 | — | $891.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.1B | $-1.8B |
| 总资产 | $29.2B | $2.8B |
| 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AXDBX
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $891.3M | ||
| Q3 25 | $2.6B | $730.7M | ||
| Q2 25 | $1.9B | $736.3M | ||
| Q1 25 | $2.0B | $942.2M | ||
| Q4 24 | $2.4B | $1.3B | ||
| Q3 24 | $2.6B | $517.6M | ||
| Q2 24 | $2.0B | $515.1M |
总债务AXDBX
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $312.7M | — | ||
| Q1 25 | $377.4M | — | ||
| Q4 24 | $358.7M | — | ||
| Q3 24 | $313.5M | — | ||
| Q2 24 | $325.7M | — |
股东权益AXDBX
| Q1 26 | $3.1B | — | ||
| Q4 25 | $2.9B | $-1.8B | ||
| Q3 25 | $2.8B | $-1.5B | ||
| Q2 25 | $2.7B | $-1.3B | ||
| Q1 25 | $2.6B | $-1.1B | ||
| Q4 24 | $2.5B | $-752.4M | ||
| Q3 24 | $2.4B | $-546.1M | ||
| Q2 24 | $2.3B | $-371.3M |
总资产AXDBX
| Q1 26 | $29.2B | — | ||
| Q4 25 | $28.2B | $2.8B | ||
| Q3 25 | $27.4B | $2.8B | ||
| Q2 25 | $24.8B | $2.8B | ||
| Q1 25 | $24.0B | $3.0B | ||
| Q4 24 | $23.7B | $3.3B | ||
| Q3 24 | $23.6B | $2.6B | ||
| Q2 24 | $22.9B | $2.7B |
负债/权益比AXDBX
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | 0.14× | — |
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 | — | $235.4M |
| 自由现金流经营现金流 - 资本支出 | — | $224.9M |
| 自由现金流率自由现金流/营收 | — | 35.4% |
| 资本支出强度资本支出/营收 | — | 1.7% |
| 现金转化率经营现金流/净利润 | — | 2.17× |
| 过去12个月自由现金流最近4个季度 | — | $930.8M |
8季度趋势，按日历期对齐
经营现金流AXDBX
| Q1 26 | — | — | ||
| Q4 25 | $104.1M | $235.4M | ||
| Q3 25 | $118.4M | $302.1M | ||
| Q2 25 | $490.3M | $260.5M | ||
| Q1 25 | $73.7M | $153.8M | ||
| Q4 24 | $162.5M | $213.8M | ||
| Q3 24 | $70.8M | $274.2M | ||
| Q2 24 | $305.5M | $230.6M |
自由现金流AXDBX
| Q1 26 | — | — | ||
| Q4 25 | $85.4M | $224.9M | ||
| Q3 25 | $109.3M | $293.7M | ||
| Q2 25 | $436.1M | $258.5M | ||
| Q1 25 | $65.1M | $153.7M | ||
| Q4 24 | $156.4M | $210.5M | ||
| Q3 24 | $53.0M | $270.1M | ||
| Q2 24 | $269.5M | $224.7M |
自由现金流率AXDBX
| Q1 26 | — | — | ||
| Q4 25 | 22.2% | 35.4% | ||
| Q3 25 | 33.8% | 46.3% | ||
| Q2 25 | 135.7% | 41.3% | ||
| Q1 25 | 21.1% | 24.6% | ||
| Q4 24 | 50.8% | 32.7% | ||
| Q3 24 | 16.5% | 42.3% | ||
| Q2 24 | 92.6% | 35.4% |
资本支出强度AXDBX
| Q1 26 | — | — | ||
| Q4 25 | 4.9% | 1.7% | ||
| Q3 25 | 2.8% | 1.3% | ||
| Q2 25 | 16.9% | 0.3% | ||
| Q1 25 | 2.8% | 0.0% | ||
| Q4 24 | 2.0% | 0.5% | ||
| Q3 24 | 5.5% | 0.6% | ||
| Q2 24 | 12.4% | 0.9% |
现金转化率AXDBX
| Q1 26 | — | — | ||
| Q4 25 | 0.81× | 2.17× | ||
| Q3 25 | 1.05× | 2.44× | ||
| Q2 25 | 4.43× | 2.07× | ||
| Q1 25 | 0.70× | 1.02× | ||
| Q4 24 | 1.55× | 2.08× | ||
| Q3 24 | 0.63× | 2.57× | ||
| Q2 24 | 2.91× | 2.09× |
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
AX
| Net Interest Income | $306.3M | 78% |
| Noninterest Income | $86.0M | 22% |
DBX
| US | $355.3M | 56% |
| Non Us | $280.9M | 44% |
