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柯蒂斯-莱特（CW）与DOCUSIGN, INC.（DOCU）财务数据对比。点击上方公司名可切换其他公司
柯蒂斯-莱特的季度营收约是DOCUSIGN, INC.的1.2倍（$947.0M vs $818.4M），柯蒂斯-莱特净利率更高（14.5% vs 10.2%，领先4.2%），柯蒂斯-莱特同比增速更快（14.9% vs 8.4%），柯蒂斯-莱特自由现金流更多（$315.1M vs $262.9M）
柯蒂斯-莱特公司是总部位于美国北卡罗来纳州戴维森的制造与服务提供商，在美国内外均设有工厂及业务网点。公司1929年由柯蒂斯、莱特及多家供应商合并成立，成立之初即为美国最大航空企业，二战期间为美军生产了超14.2万台航空发动机。
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。
CW vs DOCU — 直观对比
营收规模更大
CW
是对方的1.2倍
$818.4M
营收增速更快
CW
高出6.5%
8.4%
净利率更高
CW
高出4.2%
10.2%
自由现金流更多
CW
多$52.2M
$262.9M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $947.0M | $818.4M |
| 净利润 | $137.0M | $83.7M |
| 毛利率 | 37.5% | 79.2% |
| 营业利润率 | 19.2% | 10.4% |
| 净利率 | 14.5% | 10.2% |
| 营收同比 | 14.9% | 8.4% |
| 净利润同比 | 16.2% | 34.1% |
| 每股收益（稀释后） | $3.69 | $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CWDOCU
| Q4 25 | $947.0M | $818.4M | ||
| Q3 25 | $869.2M | $800.6M | ||
| Q2 25 | $876.6M | $763.7M | ||
| Q1 25 | $805.6M | — | ||
| Q4 24 | $824.3M | — | ||
| Q3 24 | $798.9M | — | ||
| Q2 24 | $784.8M | — | ||
| Q1 24 | $713.2M | — |
净利润CWDOCU
| Q4 25 | $137.0M | $83.7M | ||
| Q3 25 | $124.8M | $63.0M | ||
| Q2 25 | $121.1M | $72.1M | ||
| Q1 25 | $101.3M | — | ||
| Q4 24 | $117.9M | — | ||
| Q3 24 | $111.2M | — | ||
| Q2 24 | $99.5M | — | ||
| Q1 24 | $76.5M | — |
毛利率CWDOCU
| Q4 25 | 37.5% | 79.2% | ||
| Q3 25 | 37.7% | 79.3% | ||
| Q2 25 | 37.2% | 79.4% | ||
| Q1 25 | 36.3% | — | ||
| Q4 24 | 38.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 36.2% | — | ||
| Q1 24 | 35.6% | — |
营业利润率CWDOCU
| Q4 25 | 19.2% | 10.4% | ||
| Q3 25 | 19.1% | 8.1% | ||
| Q2 25 | 17.8% | 7.9% | ||
| Q1 25 | 16.0% | — | ||
| Q4 24 | 18.8% | — | ||
| Q3 24 | 18.1% | — | ||
| Q2 24 | 16.4% | — | ||
| Q1 24 | 14.0% | — |
净利率CWDOCU
| Q4 25 | 14.5% | 10.2% | ||
| Q3 25 | 14.4% | 7.9% | ||
| Q2 25 | 13.8% | 9.4% | ||
| Q1 25 | 12.6% | — | ||
| Q4 24 | 14.3% | — | ||
| Q3 24 | 13.9% | — | ||
| Q2 24 | 12.7% | — | ||
| Q1 24 | 10.7% | — |
每股收益（稀释后）CWDOCU
| Q4 25 | $3.69 | $0.40 | ||
| Q3 25 | $3.31 | $0.30 | ||
| Q2 25 | $3.19 | $0.34 | ||
| Q1 25 | $2.68 | — | ||
| Q4 24 | $3.09 | — | ||
| Q3 24 | $2.89 | — | ||
| Q2 24 | $2.58 | — | ||
| Q1 24 | $1.99 | — |
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 | — | $583.3M |
| 总债务越低越好 | $957.9M | — |
| 股东权益账面价值 | $2.5B | $2.0B |
| 总资产 | $5.2B | $4.0B |
| 负债/权益比越低杠杆越低 | 0.38× | — |
8季度趋势，按日历期对齐
现金及短期投资CWDOCU
| Q4 25 | — | $583.3M | ||
| Q3 25 | — | $600.0M | ||
| Q2 25 | — | $657.4M | ||
| Q1 25 | $226.5M | — | ||
| Q4 24 | $385.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $338.0M | — |
总债务CWDOCU
| Q4 25 | $957.9M | — | ||
| Q3 25 | $968.6M | — | ||
| Q2 25 | $958.4M | — | ||
| Q1 25 | $958.6M | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.1B | — |
股东权益CWDOCU
| Q4 25 | $2.5B | $2.0B | ||
| Q3 25 | $2.5B | $2.0B | ||
| Q2 25 | $2.7B | $2.0B | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.5B | — | ||
| Q2 24 | $2.5B | — | ||
| Q1 24 | $2.4B | — |
总资产CWDOCU
| Q4 25 | $5.2B | $4.0B | ||
| Q3 25 | $5.1B | $3.9B | ||
| Q2 25 | $5.2B | $3.9B | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.9B | — | ||
| Q2 24 | $4.7B | — | ||
| Q1 24 | $4.6B | — |
负债/权益比CWDOCU
| Q4 25 | 0.38× | — | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.37× | — | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | 0.43× | — | ||
| Q1 24 | 0.44× | — |
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 | $352.7M | $290.3M |
| 自由现金流经营现金流 - 资本支出 | $315.1M | $262.9M |
| 自由现金流率自由现金流/营收 | 33.3% | 32.1% |
| 资本支出强度资本支出/营收 | 4.0% | 3.3% |
| 现金转化率经营现金流/净利润 | 2.57× | 3.47× |
| 过去12个月自由现金流最近4个季度 | $553.7M | — |
8季度趋势，按日历期对齐
经营现金流CWDOCU
| Q4 25 | $352.7M | $290.3M | ||
| Q3 25 | $192.8M | $246.1M | ||
| Q2 25 | $136.6M | $251.4M | ||
| Q1 25 | $-38.8M | — | ||
| Q4 24 | $301.3M | — | ||
| Q3 24 | $177.3M | — | ||
| Q2 24 | $111.3M | — | ||
| Q1 24 | $-45.6M | — |
自由现金流CWDOCU
| Q4 25 | $315.1M | $262.9M | ||
| Q3 25 | $175.9M | $217.6M | ||
| Q2 25 | $117.2M | $227.8M | ||
| Q1 25 | $-54.5M | — | ||
| Q4 24 | $278.0M | — | ||
| Q3 24 | $162.7M | — | ||
| Q2 24 | $100.3M | — | ||
| Q1 24 | $-57.7M | — |
自由现金流率CWDOCU
| Q4 25 | 33.3% | 32.1% | ||
| Q3 25 | 20.2% | 27.2% | ||
| Q2 25 | 13.4% | 29.8% | ||
| Q1 25 | -6.8% | — | ||
| Q4 24 | 33.7% | — | ||
| Q3 24 | 20.4% | — | ||
| Q2 24 | 12.8% | — | ||
| Q1 24 | -8.1% | — |
资本支出强度CWDOCU
| Q4 25 | 4.0% | 3.3% | ||
| Q3 25 | 1.9% | 3.6% | ||
| Q2 25 | 2.2% | 3.1% | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 1.8% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 1.7% | — |
现金转化率CWDOCU
| Q4 25 | 2.57× | 3.47× | ||
| Q3 25 | 1.54× | 3.91× | ||
| Q2 25 | 1.13× | 3.49× | ||
| Q1 25 | -0.38× | — | ||
| Q4 24 | 2.56× | — | ||
| Q3 24 | 1.59× | — | ||
| Q2 24 | 1.12× | — | ||
| Q1 24 | -0.60× | — |
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
CW
| Naval Power | $417.4M | 44% |
| Defense Electronics | $268.3M | 28% |
| Aerospace Industrial | $262.4M | 28% |
DOCU
| Subscription And Circulation | $801.0M | 98% |
| Professional Services And Other | $17.4M | 2% |
