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CALIFORNIA WATER SERVICE GROUP（CWT）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CALIFORNIA WATER SERVICE GROUP的1.2倍（$242.4M vs $210.7M），DigitalOcean Holdings, Inc.净利率更高（10.6% vs 5.4%，领先5.1%），DigitalOcean Holdings, Inc.同比增速更快（18.3% vs -3.3%），过去两年CALIFORNIA WATER SERVICE GROUP的营收复合增速更高（16.6% vs 14.5%）
加利福尼亚水务集团是美国公共事业企业，主营饮用水及污水处理服务，是美国第三大上市投资者所有水务公司，通过加利福尼亚、夏威夷、新墨西哥、华盛顿等州的子公司，为约200万民众提供服务。集团成立于1997年，作为加州水务的控股主体，推动业务向美国其他各州拓展。
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。
CWT vs DOCN — 直观对比
营收规模更大
DOCN
是对方的1.2倍
$210.7M
营收增速更快
DOCN
高出21.6%
-3.3%
净利率更高
DOCN
高出5.1%
5.4%
两年增速更快
CWT
近两年复合增速
14.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $210.7M | $242.4M |
| 净利润 | $11.5M | $25.7M |
| 毛利率 | — | 58.7% |
| 营业利润率 | 12.2% | 16.0% |
| 净利率 | 5.4% | 10.6% |
| 营收同比 | -3.3% | 18.3% |
| 净利润同比 | -41.0% | 40.5% |
| 每股收益（稀释后） | $0.19 | $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CWTDOCN
| Q4 25 | $210.7M | $242.4M | ||
| Q3 25 | $314.1M | $229.6M | ||
| Q2 25 | $256.2M | $218.7M | ||
| Q1 25 | $182.7M | $210.7M | ||
| Q4 24 | $217.8M | $204.9M | ||
| Q3 24 | $306.2M | $198.5M | ||
| Q2 24 | $226.7M | $192.5M | ||
| Q1 24 | $154.9M | $184.7M |
净利润CWTDOCN
| Q4 25 | $11.5M | $25.7M | ||
| Q3 25 | $61.2M | $158.4M | ||
| Q2 25 | $42.2M | $37.0M | ||
| Q1 25 | $13.3M | $38.2M | ||
| Q4 24 | $19.5M | $18.3M | ||
| Q3 24 | $60.7M | $32.9M | ||
| Q2 24 | $40.6M | $19.1M | ||
| Q1 24 | $69.9M | $14.1M |
毛利率CWTDOCN
| Q4 25 | — | 58.7% | ||
| Q3 25 | — | 59.6% | ||
| Q2 25 | — | 59.9% | ||
| Q1 25 | — | 61.4% | ||
| Q4 24 | — | 57.1% | ||
| Q3 24 | — | 60.2% | ||
| Q2 24 | — | 61.0% | ||
| Q1 24 | — | 60.7% |
营业利润率CWTDOCN
| Q4 25 | 12.2% | 16.0% | ||
| Q3 25 | 22.5% | 19.6% | ||
| Q2 25 | 20.2% | 16.3% | ||
| Q1 25 | 12.2% | 17.9% | ||
| Q4 24 | 14.8% | 15.9% | ||
| Q3 24 | 21.8% | 12.4% | ||
| Q2 24 | 21.2% | 11.6% | ||
| Q1 24 | 50.3% | 6.2% |
净利率CWTDOCN
| Q4 25 | 5.4% | 10.6% | ||
| Q3 25 | 19.5% | 69.0% | ||
| Q2 25 | 16.5% | 16.9% | ||
| Q1 25 | 7.3% | 18.1% | ||
| Q4 24 | 8.9% | 8.9% | ||
| Q3 24 | 19.8% | 16.6% | ||
| Q2 24 | 17.9% | 9.9% | ||
| Q1 24 | 45.1% | 7.7% |
每股收益（稀释后）CWTDOCN
| Q4 25 | $0.19 | $0.23 | ||
| Q3 25 | $1.03 | $1.51 | ||
| Q2 25 | $0.71 | $0.39 | ||
| Q1 25 | $0.22 | $0.39 | ||
| Q4 24 | $0.31 | $0.21 | ||
| Q3 24 | $1.03 | $0.33 | ||
| Q2 24 | $0.70 | $0.20 | ||
| Q1 24 | $1.21 | $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 | $51.8M | $254.5M |
| 总债务越低越好 | $1.5B | $1.3B |
| 股东权益账面价值 | $1.7B | $-28.7M |
| 总资产 | $5.7B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.87× | — |
8季度趋势，按日历期对齐
现金及短期投资CWTDOCN
| Q4 25 | $51.8M | $254.5M | ||
| Q3 25 | $76.0M | $236.6M | ||
| Q2 25 | $50.5M | $387.7M | ||
| Q1 25 | $44.5M | $360.4M | ||
| Q4 24 | $50.1M | $428.4M | ||
| Q3 24 | $59.6M | $439.9M | ||
| Q2 24 | $37.3M | $443.1M | ||
| Q1 24 | $42.8M | $419.1M |
总债务CWTDOCN
| Q4 25 | $1.5B | $1.3B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CWTDOCN
| Q4 25 | $1.7B | $-28.7M | ||
| Q3 25 | $1.7B | $-69.6M | ||
| Q2 25 | $1.7B | $-175.2M | ||
| Q1 25 | $1.6B | $-210.7M | ||
| Q4 24 | $1.6B | $-203.0M | ||
| Q3 24 | $1.6B | $-211.7M | ||
| Q2 24 | $1.5B | $-253.8M | ||
| Q1 24 | $1.5B | $-286.1M |
总资产CWTDOCN
| Q4 25 | $5.7B | $1.8B | ||
| Q3 25 | $5.5B | $1.7B | ||
| Q2 25 | $5.4B | $1.7B | ||
| Q1 25 | $5.3B | $1.6B | ||
| Q4 24 | $5.2B | $1.6B | ||
| Q3 24 | $5.0B | $1.5B | ||
| Q2 24 | $4.9B | $1.5B | ||
| Q1 24 | $4.8B | $1.5B |
负债/权益比CWTDOCN
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 0.68× | — | ||
| Q4 24 | 0.67× | — | ||
| 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 | $47.9M | $57.3M |
| 自由现金流经营现金流 - 资本支出 | — | $31.1M |
| 自由现金流率自由现金流/营收 | — | 12.8% |
| 资本支出强度资本支出/营收 | — | 10.8% |
| 现金转化率经营现金流/净利润 | 4.17× | 2.23× |
| 过去12个月自由现金流最近4个季度 | — | $180.5M |
8季度趋势，按日历期对齐
经营现金流CWTDOCN
| Q4 25 | $47.9M | $57.3M | ||
| Q3 25 | $167.3M | $95.8M | ||
| Q2 25 | $48.9M | $92.4M | ||
| Q1 25 | $38.4M | $64.1M | ||
| Q4 24 | $68.1M | $71.3M | ||
| Q3 24 | $101.8M | $73.4M | ||
| Q2 24 | $94.4M | $71.3M | ||
| Q1 24 | $26.5M | $66.7M |
自由现金流CWTDOCN
| Q4 25 | — | $31.1M | ||
| Q3 25 | — | $88.0M | ||
| Q2 25 | — | $59.3M | ||
| Q1 25 | — | $2.1M | ||
| Q4 24 | — | $26.1M | ||
| Q3 24 | — | $16.0M | ||
| Q2 24 | — | $39.5M | ||
| Q1 24 | — | $23.0M |
自由现金流率CWTDOCN
| Q4 25 | — | 12.8% | ||
| Q3 25 | — | 38.3% | ||
| Q2 25 | — | 27.1% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 12.7% | ||
| Q3 24 | — | 8.1% | ||
| Q2 24 | — | 20.5% | ||
| Q1 24 | — | 12.5% |
资本支出强度CWTDOCN
| Q4 25 | — | 10.8% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 15.2% | ||
| Q1 25 | — | 29.4% | ||
| Q4 24 | — | 22.1% | ||
| Q3 24 | — | 28.9% | ||
| Q2 24 | — | 16.6% | ||
| Q1 24 | — | 23.6% |
现金转化率CWTDOCN
| Q4 25 | 4.17× | 2.23× | ||
| Q3 25 | 2.73× | 0.60× | ||
| Q2 25 | 1.16× | 2.50× | ||
| Q1 25 | 2.88× | 1.68× | ||
| Q4 24 | 3.50× | 3.91× | ||
| Q3 24 | 1.68× | 2.23× | ||
| Q2 24 | 2.33× | 3.73× | ||
| Q1 24 | 0.38× | 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
CWT
| Residential | $133.2M | 63% |
| Business | $47.7M | 23% |
| Public Authorities | $13.4M | 6% |
| Industrial | $6.9M | 3% |
| Non Regulated Services | $4.8M | 2% |
| Other Non Regulated Service | $1.2M | 1% |
DOCN
| Scalers | $84.3M | 35% |
| Scalers Plus | $69.9M | 29% |
| Builders | $64.1M | 26% |
| Learners Testers And Other | $24.1M | 10% |
