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基华物流（CEVA）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.的季度营收约是基华物流的7.7倍（$242.4M vs $31.3M）。DigitalOcean Holdings, Inc.净利率更高（10.6% vs -3.5%，领先14.1%）。DigitalOcean Holdings, Inc.同比增速更快（18.3% vs 7.1%）。DigitalOcean Holdings, Inc.自由现金流更多（$31.1M vs $7.2M）。过去两年基华物流的营收复合增速更高（19.1% vs 14.5%）
赛物流是一家全球物流与供应链企业，提供货运管理以及合约物流服务，2019年被达飞海运集团收购。收购完成后，达飞集团陆续将英格迈微商务生命周期服务、GEFCO等多家物流运输企业并入赛物流，助力其业务发展与规模扩张。
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。
CEVA vs DOCN — 直观对比
营收规模更大
DOCN
是对方的7.7倍
$31.3M
营收增速更快
DOCN
高出11.2%
7.1%
净利率更高
DOCN
高出14.1%
-3.5%
自由现金流更多
DOCN
多$23.9M
$7.2M
两年增速更快
CEVA
近两年复合增速
14.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $31.3M | $242.4M |
| 净利润 | $-1.1M | $25.7M |
| 毛利率 | 88.1% | 58.7% |
| 营业利润率 | -1.3% | 16.0% |
| 净利率 | -3.5% | 10.6% |
| 营收同比 | 7.1% | 18.3% |
| 净利润同比 | 36.8% | 40.5% |
| 每股收益（稀释后） | — | $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CEVADOCN
| Q4 25 | $31.3M | $242.4M | ||
| Q3 25 | $28.4M | $229.6M | ||
| Q2 25 | $25.7M | $218.7M | ||
| Q1 25 | $24.2M | $210.7M | ||
| Q4 24 | $29.2M | $204.9M | ||
| Q3 24 | $27.2M | $198.5M | ||
| Q2 24 | $28.4M | $192.5M | ||
| Q1 24 | $22.1M | $184.7M |
净利润CEVADOCN
| Q4 25 | $-1.1M | $25.7M | ||
| Q3 25 | $-2.5M | $158.4M | ||
| Q2 25 | $-3.7M | $37.0M | ||
| Q1 25 | $-3.3M | $38.2M | ||
| Q4 24 | $-1.7M | $18.3M | ||
| Q3 24 | $-1.3M | $32.9M | ||
| Q2 24 | $-291.0K | $19.1M | ||
| Q1 24 | $-5.4M | $14.1M |
毛利率CEVADOCN
| Q4 25 | 88.1% | 58.7% | ||
| Q3 25 | 88.0% | 59.6% | ||
| Q2 25 | 86.2% | 59.9% | ||
| Q1 25 | 85.6% | 61.4% | ||
| Q4 24 | 88.5% | 57.1% | ||
| Q3 24 | 85.4% | 60.2% | ||
| Q2 24 | 89.7% | 61.0% | ||
| Q1 24 | 88.7% | 60.7% |
营业利润率CEVADOCN
| Q4 25 | -1.3% | 16.0% | ||
| Q3 25 | -7.3% | 19.6% | ||
| Q2 25 | -17.5% | 16.3% | ||
| Q1 25 | -18.1% | 17.9% | ||
| Q4 24 | 0.3% | 15.9% | ||
| Q3 24 | -9.6% | 12.4% | ||
| Q2 24 | -0.1% | 11.6% | ||
| Q1 24 | -22.5% | 6.2% |
净利率CEVADOCN
| Q4 25 | -3.5% | 10.6% | ||
| Q3 25 | -8.8% | 69.0% | ||
| Q2 25 | -14.4% | 16.9% | ||
| Q1 25 | -13.7% | 18.1% | ||
| Q4 24 | -5.9% | 8.9% | ||
| Q3 24 | -4.8% | 16.6% | ||
| Q2 24 | -1.0% | 9.9% | ||
| Q1 24 | -24.7% | 7.7% |
每股收益（稀释后）CEVADOCN
| Q4 25 | — | $0.23 | ||
| Q3 25 | — | $1.51 | ||
| Q2 25 | — | $0.39 | ||
| Q1 25 | — | $0.39 | ||
| Q4 24 | — | $0.21 | ||
| Q3 24 | — | $0.33 | ||
| Q2 24 | — | $0.20 | ||
| Q1 24 | — | $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 | $40.6M | $254.5M |
| 总债务越低越好 | — | $1.3B |
| 股东权益账面价值 | $336.5M | $-28.7M |
| 总资产 | $388.3M | $1.8B |
| 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CEVADOCN
| Q4 25 | $40.6M | $254.5M | ||
| Q3 25 | $17.3M | $236.6M | ||
| Q2 25 | $29.1M | $387.7M | ||
| Q1 25 | $18.8M | $360.4M | ||
| Q4 24 | $18.8M | $428.4M | ||
| Q3 24 | $13.2M | $439.9M | ||
| Q2 24 | $25.0M | $443.1M | ||
| Q1 24 | $21.6M | $419.1M |
总债务CEVADOCN
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CEVADOCN
| Q4 25 | $336.5M | $-28.7M | ||
| Q3 25 | $268.7M | $-69.6M | ||
| Q2 25 | $265.9M | $-175.2M | ||
| Q1 25 | $269.1M | $-210.7M | ||
| Q4 24 | $266.6M | $-203.0M | ||
| Q3 24 | $265.8M | $-211.7M | ||
| Q2 24 | $263.8M | $-253.8M | ||
| Q1 24 | $262.3M | $-286.1M |
总资产CEVADOCN
| Q4 25 | $388.3M | $1.8B | ||
| Q3 25 | $306.0M | $1.7B | ||
| Q2 25 | $302.8M | $1.7B | ||
| Q1 25 | $310.0M | $1.6B | ||
| Q4 24 | $308.9M | $1.6B | ||
| Q3 24 | $304.9M | $1.5B | ||
| Q2 24 | $300.4M | $1.5B | ||
| Q1 24 | $301.4M | $1.5B |
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 | $8.7M | $57.3M |
| 自由现金流经营现金流 - 资本支出 | $7.2M | $31.1M |
| 自由现金流率自由现金流/营收 | 23.1% | 12.8% |
| 资本支出强度资本支出/营收 | 4.8% | 10.8% |
| 现金转化率经营现金流/净利润 | — | 2.23× |
| 过去12个月自由现金流最近4个季度 | $-6.3M | $180.5M |
8季度趋势，按日历期对齐
经营现金流CEVADOCN
| Q4 25 | $8.7M | $57.3M | ||
| Q3 25 | $-5.9M | $95.8M | ||
| Q2 25 | $1.2M | $92.4M | ||
| Q1 25 | $-7.4M | $64.1M | ||
| Q4 24 | $8.0M | $71.3M | ||
| Q3 24 | $399.0K | $73.4M | ||
| Q2 24 | $2.4M | $71.3M | ||
| Q1 24 | $-7.3M | $66.7M |
自由现金流CEVADOCN
| Q4 25 | $7.2M | $31.1M | ||
| Q3 25 | $-6.3M | $88.0M | ||
| Q2 25 | $492.0K | $59.3M | ||
| Q1 25 | $-7.7M | $2.1M | ||
| Q4 24 | $7.0M | $26.1M | ||
| Q3 24 | $-15.0K | $16.0M | ||
| Q2 24 | $1.8M | $39.5M | ||
| Q1 24 | $-8.3M | $23.0M |
自由现金流率CEVADOCN
| Q4 25 | 23.1% | 12.8% | ||
| Q3 25 | -22.1% | 38.3% | ||
| Q2 25 | 1.9% | 27.1% | ||
| Q1 25 | -31.8% | 1.0% | ||
| Q4 24 | 24.0% | 12.7% | ||
| Q3 24 | -0.1% | 8.1% | ||
| Q2 24 | 6.2% | 20.5% | ||
| Q1 24 | -37.4% | 12.5% |
资本支出强度CEVADOCN
| Q4 25 | 4.8% | 10.8% | ||
| Q3 25 | 1.5% | 3.4% | ||
| Q2 25 | 2.7% | 15.2% | ||
| Q1 25 | 1.3% | 29.4% | ||
| Q4 24 | 3.5% | 22.1% | ||
| Q3 24 | 1.5% | 28.9% | ||
| Q2 24 | 2.1% | 16.6% | ||
| Q1 24 | 4.1% | 23.6% |
现金转化率CEVADOCN
| Q4 25 | — | 2.23× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 2.50× | ||
| Q1 25 | — | 1.68× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | — | 2.23× | ||
| Q2 24 | — | 3.73× | ||
| Q1 24 | — | 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
CEVA
| Transferred At Point In Time | $28.1M | 90% |
| Transferred Over Time | $3.2M | 10% |
DOCN
| Scalers | $84.3M | 35% |
| Scalers Plus | $69.9M | 29% |
| Builders | $64.1M | 26% |
| Learners Testers And Other | $24.1M | 10% |
