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Axon Enterprise（AXON）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Axon Enterprise的1.0倍（$818.4M vs $796.7M），DOCUSIGN, INC.净利率更高（10.2% vs 0.3%，领先9.9%），Axon Enterprise同比增速更快（38.9% vs 8.4%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $155.4M）
Axon Enterprise是总部位于美国亚利桑那州斯科茨代尔的企业，面向军队、执法部门及民用市场开发各类武器装备与相关技术产品，业务覆盖公共安全、国防及民用消费等多个领域，为不同用户群体提供适配的产品解决方案。
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。
AXON vs DOCU — 直观对比
营收规模更大
DOCU
是对方的1.0倍
$796.7M
营收增速更快
AXON
高出30.5%
8.4%
净利率更高
DOCU
高出9.9%
0.3%
自由现金流更多
DOCU
多$107.5M
$155.4M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $796.7M | $818.4M |
| 净利润 | $2.7M | $83.7M |
| 毛利率 | 57.9% | 79.2% |
| 营业利润率 | -6.3% | 10.4% |
| 净利率 | 0.3% | 10.2% |
| 营收同比 | 38.9% | 8.4% |
| 净利润同比 | -98.0% | 34.1% |
| 每股收益（稀释后） | $0.02 | $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AXONDOCU
| Q4 25 | $796.7M | $818.4M | ||
| Q3 25 | $710.6M | $800.6M | ||
| Q2 25 | $668.5M | $763.7M | ||
| Q1 25 | $603.6M | — | ||
| Q4 24 | $573.4M | — | ||
| Q3 24 | $544.3M | — | ||
| Q2 24 | $504.1M | — | ||
| Q1 24 | $460.7M | — |
净利润AXONDOCU
| Q4 25 | $2.7M | $83.7M | ||
| Q3 25 | $-2.2M | $63.0M | ||
| Q2 25 | $36.1M | $72.1M | ||
| Q1 25 | $88.0M | — | ||
| Q4 24 | $136.0M | — | ||
| Q3 24 | $67.0M | — | ||
| Q2 24 | $40.8M | — | ||
| Q1 24 | $133.2M | — |
毛利率AXONDOCU
| Q4 25 | 57.9% | 79.2% | ||
| Q3 25 | 60.1% | 79.3% | ||
| Q2 25 | 60.4% | 79.4% | ||
| Q1 25 | 60.6% | — | ||
| Q4 24 | 60.5% | — | ||
| Q3 24 | 60.8% | — | ||
| Q2 24 | 60.3% | — | ||
| Q1 24 | 56.4% | — |
营业利润率AXONDOCU
| Q4 25 | -6.3% | 10.4% | ||
| Q3 25 | -0.3% | 8.1% | ||
| Q2 25 | -0.2% | 7.9% | ||
| Q1 25 | -1.5% | — | ||
| Q4 24 | -2.6% | — | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | 6.5% | — | ||
| Q1 24 | 3.5% | — |
净利率AXONDOCU
| Q4 25 | 0.3% | 10.2% | ||
| Q3 25 | -0.3% | 7.9% | ||
| Q2 25 | 5.4% | 9.4% | ||
| Q1 25 | 14.6% | — | ||
| Q4 24 | 23.7% | — | ||
| Q3 24 | 12.3% | — | ||
| Q2 24 | 8.1% | — | ||
| Q1 24 | 28.9% | — |
每股收益（稀释后）AXONDOCU
| Q4 25 | $0.02 | $0.40 | ||
| Q3 25 | $-0.03 | $0.30 | ||
| Q2 25 | $0.44 | $0.34 | ||
| Q1 25 | $1.08 | — | ||
| Q4 24 | $1.68 | — | ||
| Q3 24 | $0.86 | — | ||
| Q2 24 | $0.53 | — | ||
| Q1 24 | $1.73 | — |
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 | $1.7B | $583.3M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $3.2B | $2.0B |
| 总资产 | $7.0B | $4.0B |
| 负债/权益比越低杠杆越低 | 0.56× | — |
8季度趋势，按日历期对齐
现金及短期投资AXONDOCU
| Q4 25 | $1.7B | $583.3M | ||
| Q3 25 | $2.4B | $600.0M | ||
| Q2 25 | $2.1B | $657.4M | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $788.1M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $968.9M | — | ||
| Q1 24 | $964.1M | — |
总债务AXONDOCU
| Q4 25 | $1.8B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $680.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AXONDOCU
| Q4 25 | $3.2B | $2.0B | ||
| Q3 25 | $3.0B | $2.0B | ||
| Q2 25 | $2.7B | $2.0B | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $1.8B | — |
总资产AXONDOCU
| Q4 25 | $7.0B | $4.0B | ||
| Q3 25 | $6.7B | $3.9B | ||
| Q2 25 | $6.2B | $3.9B | ||
| Q1 25 | $6.1B | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $3.7B | — | ||
| Q1 24 | $3.6B | — |
负债/权益比AXONDOCU
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 0.29× | — | ||
| 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 | $217.2M | $290.3M |
| 自由现金流经营现金流 - 资本支出 | $155.4M | $262.9M |
| 自由现金流率自由现金流/营收 | 19.5% | 32.1% |
| 资本支出强度资本支出/营收 | 7.8% | 3.3% |
| 现金转化率经营现金流/净利润 | 79.14× | 3.47× |
| 过去12个月自由现金流最近4个季度 | $75.1M | — |
8季度趋势，按日历期对齐
经营现金流AXONDOCU
| Q4 25 | $217.2M | $290.3M | ||
| Q3 25 | $60.0M | $246.1M | ||
| Q2 25 | $-91.7M | $251.4M | ||
| Q1 25 | $25.8M | — | ||
| Q4 24 | $250.2M | — | ||
| Q3 24 | $91.3M | — | ||
| Q2 24 | $82.8M | — | ||
| Q1 24 | $-15.9M | — |
自由现金流AXONDOCU
| Q4 25 | $155.4M | $262.9M | ||
| Q3 25 | $33.4M | $217.6M | ||
| Q2 25 | $-114.7M | $227.8M | ||
| Q1 25 | $932.0K | — | ||
| Q4 24 | $225.4M | — | ||
| Q3 24 | $64.8M | — | ||
| Q2 24 | $71.4M | — | ||
| Q1 24 | $-32.1M | — |
自由现金流率AXONDOCU
| Q4 25 | 19.5% | 32.1% | ||
| Q3 25 | 4.7% | 27.2% | ||
| Q2 25 | -17.2% | 29.8% | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 39.3% | — | ||
| Q3 24 | 11.9% | — | ||
| Q2 24 | 14.2% | — | ||
| Q1 24 | -7.0% | — |
资本支出强度AXONDOCU
| Q4 25 | 7.8% | 3.3% | ||
| Q3 25 | 3.7% | 3.6% | ||
| Q2 25 | 3.4% | 3.1% | ||
| Q1 25 | 4.1% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 4.9% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 3.5% | — |
现金转化率AXONDOCU
| Q4 25 | 79.14× | 3.47× | ||
| Q3 25 | — | 3.91× | ||
| Q2 25 | -2.54× | 3.49× | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 2.03× | — | ||
| Q1 24 | -0.12× | — |
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
AXON
| Software And Sensors Segment | $342.5M | 43% |
| TASER Devices Professional | $264.2M | 33% |
| Personal Sensors | $109.1M | 14% |
| Platform Solutions | $80.9M | 10% |
DOCU
| Subscription And Circulation | $801.0M | 98% |
| Professional Services And Other | $17.4M | 2% |
