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CLOVER HEALTH INVESTMENTS, CORP.（CLOV）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CLOVER HEALTH INVESTMENTS, CORP.的1.7倍（$818.4M vs $487.7M），DOCUSIGN, INC.净利率更高（10.2% vs -10.1%，领先20.3%），CLOVER HEALTH INVESTMENTS, CORP.同比增速更快（44.7% vs 8.4%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $-69.0M）
克利弗健康投资公司是2014年成立的美国医疗保健企业，主营联邦医疗保险优势计划保险产品，是与美国政府直接签约合作的机构。目前公司为美国11个州的联邦医疗保险参保人提供健康管理服务，并已于2021年1月8日公开上市。
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。
CLOV vs DOCU — 直观对比
营收规模更大
DOCU
是对方的1.7倍
$487.7M
营收增速更快
CLOV
高出36.3%
8.4%
净利率更高
DOCU
高出20.3%
-10.1%
自由现金流更多
DOCU
多$331.9M
$-69.0M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $487.7M | $818.4M |
| 净利润 | $-49.3M | $83.7M |
| 毛利率 | — | 79.2% |
| 营业利润率 | -10.1% | 10.4% |
| 净利率 | -10.1% | 10.2% |
| 营收同比 | 44.7% | 8.4% |
| 净利润同比 | -123.2% | 34.1% |
| 每股收益（稀释后） | — | $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CLOVDOCU
| Q4 25 | $487.7M | $818.4M | ||
| Q3 25 | $496.6M | $800.6M | ||
| Q2 25 | $477.6M | $763.7M | ||
| Q1 25 | $462.3M | — | ||
| Q4 24 | $337.0M | — | ||
| Q3 24 | $331.0M | — | ||
| Q2 24 | $356.3M | — | ||
| Q1 24 | $346.9M | — |
净利润CLOVDOCU
| Q4 25 | $-49.3M | $83.7M | ||
| Q3 25 | $-24.4M | $63.0M | ||
| Q2 25 | $-10.6M | $72.1M | ||
| Q1 25 | $-1.3M | — | ||
| Q4 24 | $-22.1M | — | ||
| Q3 24 | $-9.2M | — | ||
| Q2 24 | $7.4M | — | ||
| Q1 24 | $-19.2M | — |
毛利率CLOVDOCU
| Q4 25 | — | 79.2% | ||
| Q3 25 | — | 79.3% | ||
| Q2 25 | — | 79.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 24.5% | — | ||
| Q2 24 | 30.3% | — | ||
| Q1 24 | 23.6% | — |
营业利润率CLOVDOCU
| Q4 25 | -10.1% | 10.4% | ||
| Q3 25 | -4.9% | 8.1% | ||
| Q2 25 | -2.2% | 7.9% | ||
| Q1 25 | -0.3% | — | ||
| Q4 24 | -6.4% | — | ||
| Q3 24 | -2.7% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | -6.5% | — |
净利率CLOVDOCU
| Q4 25 | -10.1% | 10.2% | ||
| Q3 25 | -4.9% | 7.9% | ||
| Q2 25 | -2.2% | 9.4% | ||
| Q1 25 | -0.3% | — | ||
| Q4 24 | -6.6% | — | ||
| Q3 24 | -2.8% | — | ||
| Q2 24 | 2.1% | — | ||
| Q1 24 | -5.5% | — |
每股收益（稀释后）CLOVDOCU
| Q4 25 | — | $0.40 | ||
| Q3 25 | — | $0.30 | ||
| Q2 25 | — | $0.34 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $78.3M | $583.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $308.7M | $2.0B |
| 总资产 | $541.0M | $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CLOVDOCU
| Q4 25 | $78.3M | $583.3M | ||
| Q3 25 | — | $600.0M | ||
| Q2 25 | — | $657.4M | ||
| Q1 25 | — | — | ||
| Q4 24 | $194.5M | — | ||
| Q3 24 | $288.0M | — | ||
| Q2 24 | $254.8M | — | ||
| Q1 24 | $208.3M | — |
股东权益CLOVDOCU
| Q4 25 | $308.7M | $2.0B | ||
| Q3 25 | $340.9M | $2.0B | ||
| Q2 25 | $344.2M | $2.0B | ||
| Q1 25 | $336.1M | — | ||
| Q4 24 | $341.1M | — | ||
| Q3 24 | $342.2M | — | ||
| Q2 24 | $324.9M | — | ||
| Q1 24 | $292.5M | — |
总资产CLOVDOCU
| Q4 25 | $541.0M | $4.0B | ||
| Q3 25 | $559.7M | $3.9B | ||
| Q2 25 | $575.0M | $3.9B | ||
| Q1 25 | $583.7M | — | ||
| Q4 24 | $580.7M | — | ||
| Q3 24 | $653.0M | — | ||
| Q2 24 | $674.2M | — | ||
| Q1 24 | $671.8M | — |
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 | $-66.9M | $290.3M |
| 自由现金流经营现金流 - 资本支出 | $-69.0M | $262.9M |
| 自由现金流率自由现金流/营收 | -14.1% | 32.1% |
| 资本支出强度资本支出/营收 | 0.4% | 3.3% |
| 现金转化率经营现金流/净利润 | — | 3.47× |
| 过去12个月自由现金流最近4个季度 | $-69.2M | — |
8季度趋势，按日历期对齐
经营现金流CLOVDOCU
| Q4 25 | $-66.9M | $290.3M | ||
| Q3 25 | $12.1M | $246.1M | ||
| Q2 25 | $5.4M | $251.4M | ||
| Q1 25 | $-16.3M | — | ||
| Q4 24 | $34.8M | — | ||
| Q3 24 | $50.0M | — | ||
| Q2 24 | $44.8M | — | ||
| Q1 24 | $25.9M | — |
自由现金流CLOVDOCU
| Q4 25 | $-69.0M | $262.9M | ||
| Q3 25 | $11.4M | $217.6M | ||
| Q2 25 | $4.8M | $227.8M | ||
| Q1 25 | $-16.5M | — | ||
| Q4 24 | $33.3M | — | ||
| Q3 24 | $49.6M | — | ||
| Q2 24 | $44.4M | — | ||
| Q1 24 | $25.5M | — |
自由现金流率CLOVDOCU
| Q4 25 | -14.1% | 32.1% | ||
| Q3 25 | 2.3% | 27.2% | ||
| Q2 25 | 1.0% | 29.8% | ||
| Q1 25 | -3.6% | — | ||
| Q4 24 | 9.9% | — | ||
| Q3 24 | 15.0% | — | ||
| Q2 24 | 12.5% | — | ||
| Q1 24 | 7.3% | — |
资本支出强度CLOVDOCU
| Q4 25 | 0.4% | 3.3% | ||
| Q3 25 | 0.1% | 3.6% | ||
| Q2 25 | 0.1% | 3.1% | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.1% | — |
现金转化率CLOVDOCU
| Q4 25 | — | 3.47× | ||
| Q3 25 | — | 3.91× | ||
| Q2 25 | — | 3.49× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 6.04× | — | ||
| Q1 24 | — | — |
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
CLOV
暂无分部数据
DOCU
| Subscription And Circulation | $801.0M | 98% |
| Professional Services And Other | $17.4M | 2% |
