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DoorDash（DASH）与国际纸业（IP）财务数据对比。点击上方公司名可切换其他公司
国际纸业的季度营收约是DoorDash的1.2倍（$4.7B vs $4.0B），DoorDash净利率更高（5.4% vs -50.3%，领先55.6%），DoorDash同比增速更快（37.7% vs 3.6%），DoorDash自由现金流更多（$367.0M vs $255.0M），过去两年DoorDash的营收复合增速更高（25.5% vs 1.3%）
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。
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
DASH vs IP — 直观对比
营收规模更大
IP
是对方的1.2倍
$4.0B
营收增速更快
DASH
高出34.1%
3.6%
净利率更高
DASH
高出55.6%
-50.3%
自由现金流更多
DASH
多$112.0M
$255.0M
两年增速更快
DASH
近两年复合增速
1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $4.7B |
| 净利润 | $213.0M | $-2.4B |
| 毛利率 | — | 32.2% |
| 营业利润率 | 3.7% | -56.4% |
| 净利率 | 5.4% | -50.3% |
| 营收同比 | 37.7% | 3.6% |
| 净利润同比 | 51.1% | -1521.8% |
| 每股收益（稀释后） | $0.49 | $-4.76 |
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DASHIP
| Q4 25 | $4.0B | $4.7B | ||
| Q3 25 | $3.4B | $6.2B | ||
| Q2 25 | $3.3B | $6.8B | ||
| Q1 25 | $3.0B | $5.9B | ||
| Q4 24 | $2.9B | $4.6B | ||
| Q3 24 | $2.7B | $4.7B | ||
| Q2 24 | $2.6B | $4.7B | ||
| Q1 24 | $2.5B | $4.6B |
净利润DASHIP
| Q4 25 | $213.0M | $-2.4B | ||
| Q3 25 | $244.0M | $-1.1B | ||
| Q2 25 | $285.0M | $75.0M | ||
| Q1 25 | $193.0M | $-105.0M | ||
| Q4 24 | $141.0M | $-147.0M | ||
| Q3 24 | $162.0M | $150.0M | ||
| Q2 24 | $-157.0M | $498.0M | ||
| Q1 24 | $-23.0M | $56.0M |
毛利率DASHIP
| Q4 25 | — | 32.2% | ||
| Q3 25 | — | 31.1% | ||
| Q2 25 | — | 27.9% | ||
| Q1 25 | — | 27.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 28.7% | ||
| Q2 24 | — | 29.0% | ||
| Q1 24 | — | 25.9% |
营业利润率DASHIP
| Q4 25 | 3.7% | -56.4% | ||
| Q3 25 | 7.5% | -10.8% | ||
| Q2 25 | 5.0% | 1.7% | ||
| Q1 25 | 5.1% | -2.3% | ||
| Q4 24 | 4.1% | -4.9% | ||
| Q3 24 | 4.0% | 5.1% | ||
| Q2 24 | -7.6% | 6.8% | ||
| Q1 24 | -2.4% | 3.7% |
净利率DASHIP
| Q4 25 | 5.4% | -50.3% | ||
| Q3 25 | 7.1% | -17.7% | ||
| Q2 25 | 8.7% | 1.1% | ||
| Q1 25 | 6.4% | -1.8% | ||
| Q4 24 | 4.9% | -3.2% | ||
| Q3 24 | 6.0% | 3.2% | ||
| Q2 24 | -6.0% | 10.5% | ||
| Q1 24 | -0.9% | 1.2% |
每股收益（稀释后）DASHIP
| Q4 25 | $0.49 | $-4.76 | ||
| Q3 25 | $0.55 | $-2.09 | ||
| Q2 25 | $0.65 | $0.14 | ||
| Q1 25 | $0.44 | $-0.24 | ||
| Q4 24 | $0.35 | $-0.42 | ||
| Q3 24 | $0.38 | $0.42 | ||
| Q2 24 | $-0.38 | $1.41 | ||
| Q1 24 | $-0.06 | $0.16 |
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 | $1.1B |
| 总债务越低越好 | — | $8.8B |
| 股东权益账面价值 | $10.0B | $14.8B |
| 总资产 | $19.7B | $38.0B |
| 负债/权益比越低杠杆越低 | — | 0.60× |
8季度趋势，按日历期对齐
现金及短期投资DASHIP
| Q4 25 | $4.4B | $1.1B | ||
| Q3 25 | $3.3B | $995.0M | ||
| Q2 25 | $3.9B | $1.1B | ||
| Q1 25 | $4.5B | $1.2B | ||
| Q4 24 | $4.0B | $1.2B | ||
| Q3 24 | $3.7B | $1.2B | ||
| Q2 24 | $3.4B | $1.0B | ||
| Q1 24 | $3.1B | $1.1B |
总债务DASHIP
| Q4 25 | — | $8.8B | ||
| Q3 25 | — | $9.0B | ||
| Q2 25 | — | $9.7B | ||
| Q1 25 | — | $9.2B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | — | $5.3B | ||
| Q2 24 | — | $5.3B | ||
| Q1 24 | — | $5.5B |
股东权益DASHIP
| Q4 25 | $10.0B | $14.8B | ||
| Q3 25 | $9.5B | $17.3B | ||
| Q2 25 | $8.9B | $18.6B | ||
| Q1 25 | $8.4B | $18.1B | ||
| Q4 24 | $7.8B | $8.2B | ||
| Q3 24 | $7.6B | $8.6B | ||
| Q2 24 | $7.2B | $8.6B | ||
| Q1 24 | $7.0B | $8.3B |
总资产DASHIP
| Q4 25 | $19.7B | $38.0B | ||
| Q3 25 | $18.0B | $40.6B | ||
| Q2 25 | $16.9B | $42.4B | ||
| Q1 25 | $13.6B | $41.2B | ||
| Q4 24 | $12.8B | $22.8B | ||
| Q3 24 | $12.3B | $23.2B | ||
| Q2 24 | $11.8B | $23.1B | ||
| Q1 24 | $11.4B | $23.0B |
负债/权益比DASHIP
| Q4 25 | — | 0.60× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | — | 0.62× | ||
| Q2 24 | — | 0.62× | ||
| Q1 24 | — | 0.66× |
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 | $905.0M |
| 自由现金流经营现金流 - 资本支出 | $367.0M | $255.0M |
| 自由现金流率自由现金流/营收 | 9.3% | 5.4% |
| 资本支出强度资本支出/营收 | 1.4% | 13.7% |
| 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 | $-159.0M |
8季度趋势，按日历期对齐
经营现金流DASHIP
| Q4 25 | $421.0M | $905.0M | ||
| Q3 25 | $871.0M | $605.0M | ||
| Q2 25 | $504.0M | $476.0M | ||
| Q1 25 | $635.0M | $-288.0M | ||
| Q4 24 | $518.0M | $397.0M | ||
| Q3 24 | $531.0M | $521.0M | ||
| Q2 24 | $530.0M | $365.0M | ||
| Q1 24 | $553.0M | $395.0M |
自由现金流DASHIP
| Q4 25 | $367.0M | $255.0M | ||
| Q3 25 | $808.0M | $150.0M | ||
| Q2 25 | $438.0M | $54.0M | ||
| Q1 25 | $561.0M | $-618.0M | ||
| Q4 24 | $486.0M | $137.0M | ||
| Q3 24 | $499.0M | $309.0M | ||
| Q2 24 | $507.0M | $167.0M | ||
| Q1 24 | $536.0M | $144.0M |
自由现金流率DASHIP
| Q4 25 | 9.3% | 5.4% | ||
| Q3 25 | 23.4% | 2.4% | ||
| Q2 25 | 13.3% | 0.8% | ||
| Q1 25 | 18.5% | -10.5% | ||
| Q4 24 | 16.9% | 3.0% | ||
| Q3 24 | 18.4% | 6.6% | ||
| Q2 24 | 19.3% | 3.5% | ||
| Q1 24 | 21.3% | 3.1% |
资本支出强度DASHIP
| Q4 25 | 1.4% | 13.7% | ||
| Q3 25 | 1.8% | 7.3% | ||
| Q2 25 | 2.0% | 6.2% | ||
| Q1 25 | 2.4% | 5.6% | ||
| Q4 24 | 1.1% | 5.7% | ||
| Q3 24 | 1.2% | 4.5% | ||
| Q2 24 | 0.9% | 4.2% | ||
| Q1 24 | 0.7% | 5.4% |
现金转化率DASHIP
| Q4 25 | 1.98× | — | ||
| Q3 25 | 3.57× | — | ||
| Q2 25 | 1.77× | 6.35× | ||
| Q1 25 | 3.29× | — | ||
| Q4 24 | 3.67× | — | ||
| Q3 24 | 3.28× | 3.47× | ||
| Q2 24 | — | 0.73× | ||
| Q1 24 | — | 7.05× |
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
DASH
暂无分部数据
IP
| Other | $2.4B | 52% |
| DS Smith Packaging | $2.3B | 48% |
