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DoorDash（DASH）与Equinix（EQIX）财务数据对比。点击上方公司名可切换其他公司
DoorDash的季度营收约是Equinix的1.6倍（$4.0B vs $2.4B），Equinix净利率更高（11.0% vs 5.4%，领先5.6%），DoorDash同比增速更快（37.7% vs 8.8%），过去两年DoorDash的营收复合增速更高（25.5% vs 5.9%）
DoorDash是美国头部在线订餐及配送平台，也是美国规模最大的外卖配送服务商，占据当地外卖配送市场56%的份额，便民配送品类市场占比更是高达60%。截至2020年12月31日，平台合作商户超45万家，服务消费者超2000万，注册配送员数量突破100万。
Equinix是总部位于美国加利福尼亚州雷德伍德城的跨国企业，主营互联网连接服务与数据中心托管业务，旗下数据中心此前常被业内称为“运营商酒店”，2015年1月公司正式转型为房地产投资信托基金（REIT）。
DASH vs EQIX — 直观对比
营收规模更大
DASH
是对方的1.6倍
$2.4B
营收增速更快
DASH
高出28.9%
8.8%
净利率更高
EQIX
高出5.6%
5.4%
两年增速更快
DASH
近两年复合增速
5.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $2.4B |
| 净利润 | $213.0M | $265.0M |
| 毛利率 | — | 50.5% |
| 营业利润率 | 3.7% | 17.4% |
| 净利率 | 5.4% | 11.0% |
| 营收同比 | 37.7% | 8.8% |
| 净利润同比 | 51.1% | -22.7% |
| 每股收益（稀释后） | $0.49 | $2.70 |
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DASHEQIX
| Q1 26 | — | $2.4B | ||
| Q4 25 | $4.0B | $2.4B | ||
| Q3 25 | $3.4B | $2.3B | ||
| Q2 25 | $3.3B | $2.3B | ||
| Q1 25 | $3.0B | $2.2B | ||
| Q4 24 | $2.9B | $2.3B | ||
| Q3 24 | $2.7B | $2.2B | ||
| Q2 24 | $2.6B | $2.2B |
净利润DASHEQIX
| Q1 26 | — | $265.0M | ||
| Q4 25 | $213.0M | $265.0M | ||
| Q3 25 | $244.0M | $374.0M | ||
| Q2 25 | $285.0M | $368.0M | ||
| Q1 25 | $193.0M | $343.0M | ||
| Q4 24 | $141.0M | $-14.0M | ||
| Q3 24 | $162.0M | $297.0M | ||
| Q2 24 | $-157.0M | $301.0M |
毛利率DASHEQIX
| Q1 26 | — | 50.5% | ||
| Q4 25 | — | 50.5% | ||
| Q3 25 | — | 50.7% | ||
| Q2 25 | — | 52.0% | ||
| Q1 25 | — | 51.3% | ||
| Q4 24 | — | 47.1% | ||
| Q3 24 | — | 50.1% | ||
| Q2 24 | — | 49.9% |
营业利润率DASHEQIX
| Q1 26 | — | 17.4% | ||
| Q4 25 | 3.7% | 17.4% | ||
| Q3 25 | 7.5% | 20.5% | ||
| Q2 25 | 5.0% | 21.9% | ||
| Q1 25 | 5.1% | 20.6% | ||
| Q4 24 | 4.1% | 4.6% | ||
| Q3 24 | 4.0% | 19.3% | ||
| Q2 24 | -7.6% | 20.2% |
净利率DASHEQIX
| Q1 26 | — | 11.0% | ||
| Q4 25 | 5.4% | 11.0% | ||
| Q3 25 | 7.1% | 16.1% | ||
| Q2 25 | 8.7% | 16.3% | ||
| Q1 25 | 6.4% | 15.4% | ||
| Q4 24 | 4.9% | -0.6% | ||
| Q3 24 | 6.0% | 13.5% | ||
| Q2 24 | -6.0% | 13.9% |
每股收益（稀释后）DASHEQIX
| Q1 26 | — | $2.70 | ||
| Q4 25 | $0.49 | $2.70 | ||
| Q3 25 | $0.55 | $3.81 | ||
| Q2 25 | $0.65 | $3.75 | ||
| Q1 25 | $0.44 | $3.50 | ||
| Q4 24 | $0.35 | $-0.19 | ||
| Q3 24 | $0.38 | $3.10 | ||
| Q2 24 | $-0.38 | $3.16 |
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 | $4.4B | $3.2B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $10.0B | $14.2B |
| 总资产 | $19.7B | $40.1B |
| 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DASHEQIX
| Q1 26 | — | $3.2B | ||
| Q4 25 | $4.4B | $3.2B | ||
| Q3 25 | $3.3B | $2.9B | ||
| Q2 25 | $3.9B | $4.5B | ||
| Q1 25 | $4.5B | $3.7B | ||
| Q4 24 | $4.0B | $3.6B | ||
| Q3 24 | $3.7B | $3.2B | ||
| Q2 24 | $3.4B | $2.0B |
总债务DASHEQIX
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $17.3B | ||
| Q2 25 | — | $18.1B | ||
| Q1 25 | — | $15.9B | ||
| Q4 24 | — | $15.3B | ||
| Q3 24 | — | $15.4B | ||
| Q2 24 | — | $14.5B |
股东权益DASHEQIX
| Q1 26 | — | $14.2B | ||
| Q4 25 | $10.0B | $14.2B | ||
| Q3 25 | $9.5B | $14.2B | ||
| Q2 25 | $8.9B | $14.1B | ||
| Q1 25 | $8.4B | $13.9B | ||
| Q4 24 | $7.8B | $13.5B | ||
| Q3 24 | $7.6B | $13.6B | ||
| Q2 24 | $7.2B | $12.3B |
总资产DASHEQIX
| Q1 26 | — | $40.1B | ||
| Q4 25 | $19.7B | $40.1B | ||
| Q3 25 | $18.0B | $38.1B | ||
| Q2 25 | $16.9B | $38.8B | ||
| Q1 25 | $13.6B | $36.1B | ||
| Q4 24 | $12.8B | $35.1B | ||
| Q3 24 | $12.3B | $35.4B | ||
| Q2 24 | $11.8B | $32.9B |
负债/权益比DASHEQIX
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.22× | ||
| Q2 25 | — | 1.28× | ||
| Q1 25 | — | 1.14× | ||
| Q4 24 | — | 1.13× | ||
| Q3 24 | — | 1.13× | ||
| Q2 24 | — | 1.18× |
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 | $421.0M | — |
| 自由现金流经营现金流 - 资本支出 | $367.0M | — |
| 自由现金流率自由现金流/营收 | 9.3% | — |
| 资本支出强度资本支出/营收 | 1.4% | — |
| 现金转化率经营现金流/净利润 | 1.98× | — |
| 过去12个月自由现金流最近4个季度 | $2.2B | — |
8季度趋势，按日历期对齐
经营现金流DASHEQIX
| Q1 26 | — | — | ||
| Q4 25 | $421.0M | $1.1B | ||
| Q3 25 | $871.0M | $1.0B | ||
| Q2 25 | $504.0M | $944.0M | ||
| Q1 25 | $635.0M | $809.0M | ||
| Q4 24 | $518.0M | $981.0M | ||
| Q3 24 | $531.0M | $758.0M | ||
| Q2 24 | $530.0M | $912.0M |
自由现金流DASHEQIX
| Q1 26 | — | — | ||
| Q4 25 | $367.0M | $-292.0M | ||
| Q3 25 | $808.0M | $-122.0M | ||
| Q2 25 | $438.0M | $-45.0M | ||
| Q1 25 | $561.0M | $59.0M | ||
| Q4 24 | $486.0M | $-6.0M | ||
| Q3 24 | $499.0M | $34.0M | ||
| Q2 24 | $507.0M | $264.0M |
自由现金流率DASHEQIX
| Q1 26 | — | — | ||
| Q4 25 | 9.3% | -12.1% | ||
| Q3 25 | 23.4% | -5.3% | ||
| Q2 25 | 13.3% | -2.0% | ||
| Q1 25 | 18.5% | 2.7% | ||
| Q4 24 | 16.9% | -0.3% | ||
| Q3 24 | 18.4% | 1.5% | ||
| Q2 24 | 19.3% | 12.2% |
资本支出强度DASHEQIX
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 59.3% | ||
| Q3 25 | 1.8% | 49.1% | ||
| Q2 25 | 2.0% | 43.8% | ||
| Q1 25 | 2.4% | 33.7% | ||
| Q4 24 | 1.1% | 43.7% | ||
| Q3 24 | 1.2% | 32.9% | ||
| Q2 24 | 0.9% | 30.0% |
现金转化率DASHEQIX
| Q1 26 | — | — | ||
| Q4 25 | 1.98× | 4.32× | ||
| Q3 25 | 3.57× | 2.71× | ||
| Q2 25 | 1.77× | 2.57× | ||
| Q1 25 | 3.29× | 2.36× | ||
| Q4 24 | 3.67× | — | ||
| Q3 24 | 3.28× | 2.55× | ||
| Q2 24 | — | 3.03× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
