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DoorDash（DASH）与埃培智集团（IPG）财务数据对比。点击上方公司名可切换其他公司
DoorDash的季度营收约是埃培智集团的1.9倍（$4.0B vs $2.1B），埃培智集团净利率更高（5.8% vs 5.4%，领先0.4%），DoorDash同比增速更快（37.7% vs -4.8%），DoorDash自由现金流更多（$367.0M vs $153.6M），过去两年DoorDash的营收复合增速更高（25.5% vs -9.1%）
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。
埃培智集团（IPG）是总部位于美国纽约的广告营销传播集团，旗下拥有FCB、IPG盟博、麦肯世界集团、睿狮集团等五大核心业务网络，以及公关、体育营销、艺人经纪、医疗营销等领域的多家专业独立代理商，被宏盟收购前是与WPP、阳狮、宏盟齐名的全球广告行业“四大集团”之一。
DASH vs IPG — 直观对比
营收规模更大
DASH
是对方的1.9倍
$2.1B
营收增速更快
DASH
高出42.4%
-4.8%
净利率更高
IPG
高出0.4%
5.4%
自由现金流更多
DASH
多$213.4M
$153.6M
两年增速更快
DASH
近两年复合增速
-9.1%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $2.1B |
| 净利润 | $213.0M | $124.2M |
| 毛利率 | — | — |
| 营业利润率 | 3.7% | 10.3% |
| 净利率 | 5.4% | 5.8% |
| 营收同比 | 37.7% | -4.8% |
| 净利润同比 | 51.1% | 517.9% |
| 每股收益（稀释后） | $0.49 | $0.34 |
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DASHIPG
| Q4 25 | $4.0B | — | ||
| Q3 25 | $3.4B | $2.1B | ||
| Q2 25 | $3.3B | $2.2B | ||
| Q1 25 | $3.0B | $2.0B | ||
| Q4 24 | $2.9B | $2.4B | ||
| Q3 24 | $2.7B | $2.2B | ||
| Q2 24 | $2.6B | $2.3B | ||
| Q1 24 | $2.5B | $2.2B |
净利润DASHIPG
| Q4 25 | $213.0M | — | ||
| Q3 25 | $244.0M | $124.2M | ||
| Q2 25 | $285.0M | $162.5M | ||
| Q1 25 | $193.0M | $-85.4M | ||
| Q4 24 | $141.0M | $344.5M | ||
| Q3 24 | $162.0M | $20.1M | ||
| Q2 24 | $-157.0M | $214.5M | ||
| Q1 24 | $-23.0M | $110.4M |
毛利率DASHIPG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | -1.1% |
营业利润率DASHIPG
| Q4 25 | 3.7% | — | ||
| Q3 25 | 7.5% | 10.3% | ||
| Q2 25 | 5.0% | 11.2% | ||
| Q1 25 | 5.1% | -2.1% | ||
| Q4 24 | 4.1% | 23.3% | ||
| Q3 24 | 4.0% | 5.9% | ||
| Q2 24 | -7.6% | 13.7% | ||
| Q1 24 | -2.4% | 8.4% |
净利率DASHIPG
| Q4 25 | 5.4% | — | ||
| Q3 25 | 7.1% | 5.8% | ||
| Q2 25 | 8.7% | 7.5% | ||
| Q1 25 | 6.4% | -4.3% | ||
| Q4 24 | 4.9% | 14.1% | ||
| Q3 24 | 6.0% | 0.9% | ||
| Q2 24 | -6.0% | 9.2% | ||
| Q1 24 | -0.9% | 5.1% |
每股收益（稀释后）DASHIPG
| Q4 25 | $0.49 | — | ||
| Q3 25 | $0.55 | $0.34 | ||
| Q2 25 | $0.65 | $0.44 | ||
| Q1 25 | $0.44 | $-0.23 | ||
| Q4 24 | $0.35 | $0.92 | ||
| Q3 24 | $0.38 | $0.05 | ||
| Q2 24 | $-0.38 | $0.57 | ||
| Q1 24 | $-0.06 | $0.29 |
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 | $1.5B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $10.0B | $3.7B |
| 总资产 | $19.7B | $17.0B |
| 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DASHIPG
| Q4 25 | $4.4B | — | ||
| Q3 25 | $3.3B | $1.5B | ||
| Q2 25 | $3.9B | $1.6B | ||
| Q1 25 | $4.5B | $1.9B | ||
| Q4 24 | $4.0B | $2.2B | ||
| Q3 24 | $3.7B | $1.5B | ||
| Q2 24 | $3.4B | $1.5B | ||
| Q1 24 | $3.1B | $1.9B |
股东权益DASHIPG
| Q4 25 | $10.0B | — | ||
| Q3 25 | $9.5B | $3.7B | ||
| Q2 25 | $8.9B | $3.7B | ||
| Q1 25 | $8.4B | $3.6B | ||
| Q4 24 | $7.8B | $3.8B | ||
| Q3 24 | $7.6B | $3.7B | ||
| Q2 24 | $7.2B | $3.8B | ||
| Q1 24 | $7.0B | $3.8B |
总资产DASHIPG
| Q4 25 | $19.7B | — | ||
| Q3 25 | $18.0B | $17.0B | ||
| Q2 25 | $16.9B | $17.0B | ||
| Q1 25 | $13.6B | $17.1B | ||
| Q4 24 | $12.8B | $18.3B | ||
| Q3 24 | $12.3B | $17.1B | ||
| Q2 24 | $11.8B | $17.0B | ||
| Q1 24 | $11.4B | $17.3B |
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 | $180.1M |
| 自由现金流经营现金流 - 资本支出 | $367.0M | $153.6M |
| 自由现金流率自由现金流/营收 | 9.3% | 7.2% |
| 资本支出强度资本支出/营收 | 1.4% | 1.2% |
| 现金转化率经营现金流/净利润 | 1.98× | 1.45× |
| 过去12个月自由现金流最近4个季度 | $2.2B | $806.8M |
8季度趋势，按日历期对齐
经营现金流DASHIPG
| Q4 25 | $421.0M | — | ||
| Q3 25 | $871.0M | $180.1M | ||
| Q2 25 | $504.0M | $-96.0M | ||
| Q1 25 | $635.0M | $-37.0M | ||
| Q4 24 | $518.0M | $868.1M | ||
| Q3 24 | $531.0M | $223.8M | ||
| Q2 24 | $530.0M | $120.7M | ||
| Q1 24 | $553.0M | $-157.4M |
自由现金流DASHIPG
| Q4 25 | $367.0M | — | ||
| Q3 25 | $808.0M | $153.6M | ||
| Q2 25 | $438.0M | $-121.8M | ||
| Q1 25 | $561.0M | $-58.5M | ||
| Q4 24 | $486.0M | $833.5M | ||
| Q3 24 | $499.0M | $186.5M | ||
| Q2 24 | $507.0M | $85.9M | ||
| Q1 24 | $536.0M | $-192.5M |
自由现金流率DASHIPG
| Q4 25 | 9.3% | — | ||
| Q3 25 | 23.4% | 7.2% | ||
| Q2 25 | 13.3% | -5.6% | ||
| Q1 25 | 18.5% | -2.9% | ||
| Q4 24 | 16.9% | 34.2% | ||
| Q3 24 | 18.4% | 8.3% | ||
| Q2 24 | 19.3% | 3.7% | ||
| Q1 24 | 21.3% | -8.8% |
资本支出强度DASHIPG
| Q4 25 | 1.4% | — | ||
| Q3 25 | 1.8% | 1.2% | ||
| Q2 25 | 2.0% | 1.2% | ||
| Q1 25 | 2.4% | 1.1% | ||
| Q4 24 | 1.1% | 1.4% | ||
| Q3 24 | 1.2% | 1.7% | ||
| Q2 24 | 0.9% | 1.5% | ||
| Q1 24 | 0.7% | 1.6% |
现金转化率DASHIPG
| Q4 25 | 1.98× | — | ||
| Q3 25 | 3.57× | 1.45× | ||
| Q2 25 | 1.77× | -0.59× | ||
| Q1 25 | 3.29× | — | ||
| Q4 24 | 3.67× | 2.52× | ||
| Q3 24 | 3.28× | 11.13× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | -1.43× |
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
IPG
| MDE | $619.0M | 29% |
| IAC | $574.9M | 27% |
| Other | $527.9M | 25% |
| SCE | $413.8M | 19% |
