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DoorDash（DASH）与LINCOLN NATIONAL CORP（LNC）财务数据对比。点击上方公司名可切换其他公司
LINCOLN NATIONAL CORP的季度营收约是DoorDash的1.2倍（$4.9B vs $4.0B），LINCOLN NATIONAL CORP净利率更高（15.3% vs 5.4%，领先10.0%），DoorDash同比增速更快（37.7% vs -2.8%），过去两年DoorDash的营收复合增速更高（25.5% vs 9.4%）
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。
林肯国民公司是美国财富200强控股企业，通过旗下多家子公司开展保险、投资管理等多元金融业务，“林肯金融集团”是该公司及其所有子公司共同使用的市场推广品牌名称。
DASH vs LNC — 直观对比
营收规模更大
LNC
是对方的1.2倍
$4.0B
营收增速更快
DASH
高出40.4%
-2.8%
净利率更高
LNC
高出10.0%
5.4%
两年增速更快
DASH
近两年复合增速
9.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $4.9B |
| 净利润 | $213.0M | $755.0M |
| 毛利率 | — | — |
| 营业利润率 | 3.7% | 18.6% |
| 净利率 | 5.4% | 15.3% |
| 营收同比 | 37.7% | -2.8% |
| 净利润同比 | 51.1% | -55.2% |
| 每股收益（稀释后） | $0.49 | $4.32 |
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DASHLNC
| Q4 25 | $4.0B | $4.9B | ||
| Q3 25 | $3.4B | $4.6B | ||
| Q2 25 | $3.3B | $4.0B | ||
| Q1 25 | $3.0B | $4.7B | ||
| Q4 24 | $2.9B | $5.1B | ||
| Q3 24 | $2.7B | $4.1B | ||
| Q2 24 | $2.6B | $5.2B | ||
| Q1 24 | $2.5B | $4.1B |
净利润DASHLNC
| Q4 25 | $213.0M | $755.0M | ||
| Q3 25 | $244.0M | $445.0M | ||
| Q2 25 | $285.0M | $699.0M | ||
| Q1 25 | $193.0M | $-722.0M | ||
| Q4 24 | $141.0M | $1.7B | ||
| Q3 24 | $162.0M | $-528.0M | ||
| Q2 24 | $-157.0M | $895.0M | ||
| Q1 24 | $-23.0M | $1.2B |
营业利润率DASHLNC
| Q4 25 | 3.7% | 18.6% | ||
| Q3 25 | 7.5% | 11.5% | ||
| Q2 25 | 5.0% | 21.0% | ||
| Q1 25 | 5.1% | -20.2% | ||
| Q4 24 | 4.1% | 41.5% | ||
| Q3 24 | 4.0% | -17.1% | ||
| Q2 24 | -7.6% | 21.3% | ||
| Q1 24 | -2.4% | 37.1% |
净利率DASHLNC
| Q4 25 | 5.4% | 15.3% | ||
| Q3 25 | 7.1% | 9.8% | ||
| Q2 25 | 8.7% | 17.3% | ||
| Q1 25 | 6.4% | -15.4% | ||
| Q4 24 | 4.9% | 33.3% | ||
| Q3 24 | 6.0% | -12.8% | ||
| Q2 24 | -6.0% | 17.4% | ||
| Q1 24 | -0.9% | 29.7% |
每股收益（稀释后）DASHLNC
| Q4 25 | $0.49 | $4.32 | ||
| Q3 25 | $0.55 | $2.12 | ||
| Q2 25 | $0.65 | $3.80 | ||
| Q1 25 | $0.44 | $-4.41 | ||
| Q4 24 | $0.35 | $9.66 | ||
| Q3 24 | $0.38 | $-3.29 | ||
| Q2 24 | $-0.38 | $5.11 | ||
| Q1 24 | $-0.06 | $6.93 |
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 | — |
| 总债务越低越好 | — | $6.3B |
| 股东权益账面价值 | $10.0B | $10.9B |
| 总资产 | $19.7B | $417.2B |
| 负债/权益比越低杠杆越低 | — | 0.57× |
8季度趋势，按日历期对齐
现金及短期投资DASHLNC
| Q4 25 | $4.4B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $3.7B | — | ||
| Q2 24 | $3.4B | — | ||
| Q1 24 | $3.1B | — |
总债务DASHLNC
| Q4 25 | — | $6.3B | ||
| Q3 25 | — | $5.8B | ||
| Q2 25 | — | $5.8B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $5.9B | ||
| Q2 24 | — | $5.7B | ||
| Q1 24 | — | $5.7B |
股东权益DASHLNC
| Q4 25 | $10.0B | $10.9B | ||
| Q3 25 | $9.5B | $10.5B | ||
| Q2 25 | $8.9B | $9.5B | ||
| Q1 25 | $8.4B | $8.2B | ||
| Q4 24 | $7.8B | $8.3B | ||
| Q3 24 | $7.6B | $9.0B | ||
| Q2 24 | $7.2B | $7.9B | ||
| Q1 24 | $7.0B | $7.5B |
总资产DASHLNC
| Q4 25 | $19.7B | $417.2B | ||
| Q3 25 | $18.0B | $415.3B | ||
| Q2 25 | $16.9B | $399.1B | ||
| Q1 25 | $13.6B | $382.9B | ||
| Q4 24 | $12.8B | $390.8B | ||
| Q3 24 | $12.3B | $396.8B | ||
| Q2 24 | $11.8B | $384.5B | ||
| Q1 24 | $11.4B | $383.4B |
负债/权益比DASHLNC
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.65× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | — | 0.76× |
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 | $233.0M |
| 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× | 0.31× |
| 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DASHLNC
| Q4 25 | $421.0M | $233.0M | ||
| Q3 25 | $871.0M | $-1.1B | ||
| Q2 25 | $504.0M | $1.0B | ||
| Q1 25 | $635.0M | $-272.0M | ||
| Q4 24 | $518.0M | $222.0M | ||
| Q3 24 | $531.0M | $-27.0M | ||
| Q2 24 | $530.0M | $-859.0M | ||
| Q1 24 | $553.0M | $-1.3B |
自由现金流DASHLNC
| Q4 25 | $367.0M | — | ||
| Q3 25 | $808.0M | — | ||
| Q2 25 | $438.0M | — | ||
| Q1 25 | $561.0M | — | ||
| Q4 24 | $486.0M | — | ||
| Q3 24 | $499.0M | — | ||
| Q2 24 | $507.0M | — | ||
| Q1 24 | $536.0M | — |
自由现金流率DASHLNC
| Q4 25 | 9.3% | — | ||
| Q3 25 | 23.4% | — | ||
| Q2 25 | 13.3% | — | ||
| Q1 25 | 18.5% | — | ||
| Q4 24 | 16.9% | — | ||
| Q3 24 | 18.4% | — | ||
| Q2 24 | 19.3% | — | ||
| Q1 24 | 21.3% | — |
资本支出强度DASHLNC
| Q4 25 | 1.4% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | 0.7% | — |
现金转化率DASHLNC
| Q4 25 | 1.98× | 0.31× | ||
| Q3 25 | 3.57× | -2.56× | ||
| Q2 25 | 1.77× | 1.45× | ||
| Q1 25 | 3.29× | — | ||
| Q4 24 | 3.67× | 0.13× | ||
| Q3 24 | 3.28× | — | ||
| Q2 24 | — | -0.96× | ||
| Q1 24 | — | -1.10× |
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
LNC
| Life Segment | $1.6B | 33% |
| Group Protection Segment | $1.5B | 31% |
| Annuities Segment | $1.3B | 27% |
| Other | $435.0M | 9% |
