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CASELLA WASTE SYSTEMS INC（CWST）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CASELLA WASTE SYSTEMS INC的1.5倍（$818.4M vs $557.2M），DOCUSIGN, INC.净利率更高（10.2% vs -1.0%，领先11.2%），CASELLA WASTE SYSTEMS INC同比增速更快（9.6% vs 8.4%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $30.7M）
Casella Waste Systems Inc.是总部位于美国佛蒙特州拉特兰的废弃物管理企业，1975年创立时仅靠一辆卡车起步，现为区域型垂直一体化固体废物服务提供商，面向住宅、商业、市政及工业客户提供固废收集处置、中转、回收、有机废弃物处理等专业资源管理服务。
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。
CWST vs DOCU — 直观对比
营收规模更大
DOCU
是对方的1.5倍
$557.2M
营收增速更快
CWST
高出1.2%
8.4%
净利率更高
DOCU
高出11.2%
-1.0%
自由现金流更多
DOCU
多$232.2M
$30.7M
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $557.2M | $818.4M |
| 净利润 | $-5.5M | $83.7M |
| 毛利率 | — | 79.2% |
| 营业利润率 | 0.9% | 10.4% |
| 净利率 | -1.0% | 10.2% |
| 营收同比 | 9.6% | 8.4% |
| 净利润同比 | -15.2% | 34.1% |
| 每股收益（稀释后） | $-0.09 | $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CWSTDOCU
| Q1 26 | $557.2M | — | ||
| Q4 25 | $469.1M | $818.4M | ||
| Q3 25 | $485.4M | $800.6M | ||
| Q2 25 | $465.3M | $763.7M | ||
| Q1 25 | $417.1M | — | ||
| Q4 24 | $427.5M | — | ||
| Q3 24 | $411.6M | — | ||
| Q2 24 | $377.2M | — |
净利润CWSTDOCU
| Q1 26 | $-5.5M | — | ||
| Q4 25 | $-2.5M | $83.7M | ||
| Q3 25 | $10.0M | $63.0M | ||
| Q2 25 | $5.2M | $72.1M | ||
| Q1 25 | $-4.8M | — | ||
| Q4 24 | $4.9M | — | ||
| Q3 24 | $5.8M | — | ||
| Q2 24 | $7.0M | — |
毛利率CWSTDOCU
| Q1 26 | — | — | ||
| Q4 25 | 33.3% | 79.2% | ||
| Q3 25 | 35.0% | 79.3% | ||
| Q2 25 | 33.8% | 79.4% | ||
| Q1 25 | 32.8% | — | ||
| Q4 24 | 33.2% | — | ||
| Q3 24 | 35.1% | — | ||
| Q2 24 | 35.4% | — |
营业利润率CWSTDOCU
| Q1 26 | 0.9% | — | ||
| Q4 25 | 2.5% | 10.4% | ||
| Q3 25 | 6.1% | 8.1% | ||
| Q2 25 | 4.1% | 7.9% | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 5.9% | — | ||
| Q2 24 | 6.1% | — |
净利率CWSTDOCU
| Q1 26 | -1.0% | — | ||
| Q4 25 | -0.5% | 10.2% | ||
| Q3 25 | 2.1% | 7.9% | ||
| Q2 25 | 1.1% | 9.4% | ||
| Q1 25 | -1.2% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.4% | — | ||
| Q2 24 | 1.9% | — |
每股收益（稀释后）CWSTDOCU
| Q1 26 | $-0.09 | — | ||
| Q4 25 | $-0.04 | $0.40 | ||
| Q3 25 | $0.16 | $0.30 | ||
| Q2 25 | $0.08 | $0.34 | ||
| Q1 25 | $-0.08 | — | ||
| Q4 24 | $0.08 | — | ||
| Q3 24 | $0.10 | — | ||
| Q2 24 | $0.12 | — |
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 | $126.9M | $583.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.6B | $2.0B |
| 总资产 | $3.3B | $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CWSTDOCU
| Q1 26 | $126.9M | — | ||
| Q4 25 | $123.8M | $583.3M | ||
| Q3 25 | $192.7M | $600.0M | ||
| Q2 25 | $217.8M | $657.4M | ||
| Q1 25 | $267.7M | — | ||
| Q4 24 | $358.3M | — | ||
| Q3 24 | $519.0M | — | ||
| Q2 24 | $208.5M | — |
总债务CWSTDOCU
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $976.6M | — |
股东权益CWSTDOCU
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $2.0B | ||
| Q3 25 | $1.6B | $2.0B | ||
| Q2 25 | $1.6B | $2.0B | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.0B | — |
总资产CWSTDOCU
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.3B | $4.0B | ||
| Q3 25 | $3.3B | $3.9B | ||
| Q2 25 | $3.3B | $3.9B | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $2.5B | — |
负债/权益比CWSTDOCU
| Q1 26 | — | — | ||
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.72× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.94× | — |
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 | $62.3M | $290.3M |
| 自由现金流经营现金流 - 资本支出 | $30.7M | $262.9M |
| 自由现金流率自由现金流/营收 | 5.5% | 32.1% |
| 资本支出强度资本支出/营收 | 9.0% | 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 | $120.7M | — |
8季度趋势，按日历期对齐
经营现金流CWSTDOCU
| Q1 26 | $62.3M | — | ||
| Q4 25 | $96.6M | $290.3M | ||
| Q3 25 | $93.6M | $246.1M | ||
| Q2 25 | $89.5M | $251.4M | ||
| Q1 25 | $50.1M | — | ||
| Q4 24 | $109.8M | — | ||
| Q3 24 | $91.8M | — | ||
| Q2 24 | $72.1M | — |
自由现金流CWSTDOCU
| Q1 26 | $30.7M | — | ||
| Q4 25 | $39.3M | $262.9M | ||
| Q3 25 | $27.6M | $217.6M | ||
| Q2 25 | $23.1M | $227.8M | ||
| Q1 25 | $-5.4M | — | ||
| Q4 24 | $32.9M | — | ||
| Q3 24 | $40.4M | — | ||
| Q2 24 | $27.5M | — |
自由现金流率CWSTDOCU
| Q1 26 | 5.5% | — | ||
| Q4 25 | 8.4% | 32.1% | ||
| Q3 25 | 5.7% | 27.2% | ||
| Q2 25 | 5.0% | 29.8% | ||
| Q1 25 | -1.3% | — | ||
| Q4 24 | 7.7% | — | ||
| Q3 24 | 9.8% | — | ||
| Q2 24 | 7.3% | — |
资本支出强度CWSTDOCU
| Q1 26 | 9.0% | — | ||
| Q4 25 | 12.2% | 3.3% | ||
| Q3 25 | 13.6% | 3.6% | ||
| Q2 25 | 14.3% | 3.1% | ||
| Q1 25 | 13.3% | — | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | 12.5% | — | ||
| Q2 24 | 11.8% | — |
现金转化率CWSTDOCU
| Q1 26 | — | — | ||
| Q4 25 | — | 3.47× | ||
| Q3 25 | 9.37× | 3.91× | ||
| Q2 25 | 17.19× | 3.49× | ||
| Q1 25 | — | — | ||
| Q4 24 | 22.51× | — | ||
| Q3 24 | 15.91× | — | ||
| Q2 24 | 10.29× | — |
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
CWST
| Collection | $334.8M | 60% |
| Transfer station | $65.9M | 12% |
| Processing (ii) | $49.0M | 9% |
| Landfill | $48.0M | 9% |
| National Accounts (ii) | $45.6M | 8% |
| Transportation | $8.2M | 1% |
| Landfill gas-to-energy | $2.9M | 1% |
DOCU
| Subscription And Circulation | $801.0M | 98% |
| Professional Services And Other | $17.4M | 2% |
