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DoorDash（DASH）与Kellanova（K）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Kellanova的1.2倍（$4.0B vs $3.3B），Kellanova净利率更高（9.5% vs 5.4%，领先4.1%），DoorDash同比增速更快（37.7% vs 0.8%），DoorDash自由现金流更多（$367.0M vs $359.0M），过去两年DoorDash的营收复合增速更高（25.5% vs -9.0%）
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。
Kellanova前身为知名食品企业家乐氏，是玛氏集团旗下的美国跨国食品制造公司，总部位于美国伊利诺伊州芝加哥。2023年10月2日公司正式启用现名，同步拆分北美谷物业务，独立成立WK Kellogg Co。
DASH vs K — 直观对比
营收规模更大
DASH
是对方的1.2倍
$3.3B
营收增速更快
DASH
高出36.8%
0.8%
净利率更高
K
高出4.1%
5.4%
自由现金流更多
DASH
多$8.0M
$359.0M
两年增速更快
DASH
近两年复合增速
-9.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $3.3B |
| 净利润 | $213.0M | $309.0M |
| 毛利率 | — | 33.3% |
| 营业利润率 | 3.7% | 13.9% |
| 净利率 | 5.4% | 9.5% |
| 营收同比 | 37.7% | 0.8% |
| 净利润同比 | 51.1% | -15.8% |
| 每股收益（稀释后） | $0.49 | $0.88 |
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DASHK
| Q4 25 | $4.0B | — | ||
| Q3 25 | $3.4B | $3.3B | ||
| Q2 25 | $3.3B | $3.2B | ||
| Q1 25 | $3.0B | $3.1B | ||
| Q4 24 | $2.9B | $3.1B | ||
| Q3 24 | $2.7B | $3.2B | ||
| Q2 24 | $2.6B | $3.2B | ||
| Q1 24 | $2.5B | $3.2B |
净利润DASHK
| Q4 25 | $213.0M | — | ||
| Q3 25 | $244.0M | $309.0M | ||
| Q2 25 | $285.0M | $299.0M | ||
| Q1 25 | $193.0M | $304.0M | ||
| Q4 24 | $141.0M | $365.0M | ||
| Q3 24 | $162.0M | $367.0M | ||
| Q2 24 | $-157.0M | $344.0M | ||
| Q1 24 | $-23.0M | $267.0M |
毛利率DASHK
| Q4 25 | — | — | ||
| Q3 25 | — | 33.3% | ||
| Q2 25 | — | 34.0% | ||
| Q1 25 | — | 34.3% | ||
| Q4 24 | — | 37.7% | ||
| Q3 24 | — | 36.4% | ||
| Q2 24 | — | 36.4% | ||
| Q1 24 | — | 32.2% |
营业利润率DASHK
| Q4 25 | 3.7% | — | ||
| Q3 25 | 7.5% | 13.9% | ||
| Q2 25 | 5.0% | 13.7% | ||
| Q1 25 | 5.1% | 13.9% | ||
| Q4 24 | 4.1% | 17.0% | ||
| Q3 24 | 4.0% | 14.1% | ||
| Q2 24 | -7.6% | 15.4% | ||
| Q1 24 | -2.4% | 12.3% |
净利率DASHK
| Q4 25 | 5.4% | — | ||
| Q3 25 | 7.1% | 9.5% | ||
| Q2 25 | 8.7% | 9.3% | ||
| Q1 25 | 6.4% | 9.9% | ||
| Q4 24 | 4.9% | 11.7% | ||
| Q3 24 | 6.0% | 11.4% | ||
| Q2 24 | -6.0% | 10.8% | ||
| Q1 24 | -0.9% | 8.3% |
每股收益（稀释后）DASHK
| Q4 25 | $0.49 | — | ||
| Q3 25 | $0.55 | $0.88 | ||
| Q2 25 | $0.65 | $0.85 | ||
| Q1 25 | $0.44 | $0.87 | ||
| Q4 24 | $0.35 | $1.05 | ||
| Q3 24 | $0.38 | $1.05 | ||
| Q2 24 | $-0.38 | $1.00 | ||
| Q1 24 | $-0.06 | $0.78 |
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 | $240.0M |
| 总债务越低越好 | — | $4.3B |
| 股东权益账面价值 | $10.0B | $4.2B |
| 总资产 | $19.7B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 1.02× |
8季度趋势，按日历期对齐
现金及短期投资DASHK
| Q4 25 | $4.4B | — | ||
| Q3 25 | $3.3B | $240.0M | ||
| Q2 25 | $3.9B | $354.0M | ||
| Q1 25 | $4.5B | $330.0M | ||
| Q4 24 | $4.0B | $694.0M | ||
| Q3 24 | $3.7B | $569.0M | ||
| Q2 24 | $3.4B | $272.0M | ||
| Q1 24 | $3.1B | $242.0M |
总债务DASHK
| Q4 25 | — | — | ||
| Q3 25 | — | $4.3B | ||
| Q2 25 | — | $4.3B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | — | $5.0B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $5.0B | ||
| Q1 24 | — | $4.4B |
股东权益DASHK
| Q4 25 | $10.0B | — | ||
| Q3 25 | $9.5B | $4.2B | ||
| Q2 25 | $8.9B | $4.1B | ||
| Q1 25 | $8.4B | $3.9B | ||
| Q4 24 | $7.8B | $3.8B | ||
| Q3 24 | $7.6B | $3.6B | ||
| Q2 24 | $7.2B | $3.3B | ||
| Q1 24 | $7.0B | $3.2B |
总资产DASHK
| Q4 25 | $19.7B | — | ||
| Q3 25 | $18.0B | $15.6B | ||
| Q2 25 | $16.9B | $15.9B | ||
| Q1 25 | $13.6B | $15.5B | ||
| Q4 24 | $12.8B | $15.6B | ||
| Q3 24 | $12.3B | $15.8B | ||
| Q2 24 | $11.8B | $15.3B | ||
| Q1 24 | $11.4B | $15.3B |
负债/权益比DASHK
| Q4 25 | — | — | ||
| Q3 25 | — | 1.02× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | — | 1.40× | ||
| Q2 24 | — | 1.51× | ||
| Q1 24 | — | 1.40× |
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 | $503.0M |
| 自由现金流经营现金流 - 资本支出 | $367.0M | $359.0M |
| 自由现金流率自由现金流/营收 | 9.3% | 11.0% |
| 资本支出强度资本支出/营收 | 1.4% | 4.4% |
| 现金转化率经营现金流/净利润 | 1.98× | 1.63× |
| 过去12个月自由现金流最近4个季度 | $2.2B | $599.0M |
8季度趋势，按日历期对齐
经营现金流DASHK
| Q4 25 | $421.0M | — | ||
| Q3 25 | $871.0M | $503.0M | ||
| Q2 25 | $504.0M | $169.0M | ||
| Q1 25 | $635.0M | $116.0M | ||
| Q4 24 | $518.0M | $467.0M | ||
| Q3 24 | $531.0M | $553.0M | ||
| Q2 24 | $530.0M | $376.0M | ||
| Q1 24 | $553.0M | $364.0M |
自由现金流DASHK
| Q4 25 | $367.0M | — | ||
| Q3 25 | $808.0M | $359.0M | ||
| Q2 25 | $438.0M | $21.0M | ||
| Q1 25 | $561.0M | $-60.0M | ||
| Q4 24 | $486.0M | $279.0M | ||
| Q3 24 | $499.0M | $410.0M | ||
| Q2 24 | $507.0M | $234.0M | ||
| Q1 24 | $536.0M | $209.0M |
自由现金流率DASHK
| Q4 25 | 9.3% | — | ||
| Q3 25 | 23.4% | 11.0% | ||
| Q2 25 | 13.3% | 0.7% | ||
| Q1 25 | 18.5% | -1.9% | ||
| Q4 24 | 16.9% | 8.9% | ||
| Q3 24 | 18.4% | 12.7% | ||
| Q2 24 | 19.3% | 7.3% | ||
| Q1 24 | 21.3% | 6.5% |
资本支出强度DASHK
| Q4 25 | 1.4% | — | ||
| Q3 25 | 1.8% | 4.4% | ||
| Q2 25 | 2.0% | 4.6% | ||
| Q1 25 | 2.4% | 5.7% | ||
| Q4 24 | 1.1% | 6.0% | ||
| Q3 24 | 1.2% | 4.4% | ||
| Q2 24 | 0.9% | 4.4% | ||
| Q1 24 | 0.7% | 4.8% |
现金转化率DASHK
| Q4 25 | 1.98× | — | ||
| Q3 25 | 3.57× | 1.63× | ||
| Q2 25 | 1.77× | 0.57× | ||
| Q1 25 | 3.29× | 0.38× | ||
| Q4 24 | 3.67× | 1.28× | ||
| Q3 24 | 3.28× | 1.51× | ||
| Q2 24 | — | 1.09× | ||
| Q1 24 | — | 1.36× |
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
K
| Retail Channel Snacks | $2.0B | 62% |
| Retail Channel Cereal | $678.0M | 21% |
| Noodlesand Other | $280.0M | 9% |
| Frozen And Specialty Channels | $275.0M | 8% |
