vs
DoorDash（DASH）与奥飞娱乐（MAX）财务数据对比。点击上方公司名可切换其他公司
DoorDash的季度营收约是奥飞娱乐的13.6倍（$4.0B vs $291.2M）。奥飞娱乐净利率更高（10.8% vs 5.4%，领先5.4%）。DoorDash同比增速更快（37.7% vs -3.2%）。DoorDash自由现金流更多（$367.0M vs $-7.5M）。过去两年奥飞娱乐的营收复合增速更高（51.6% vs 25.5%）
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。
奥飞娱乐股份有限公司由蔡东青于1993年创立，是一家中国跨国综合企业集团，主营动漫、玩具、传媒资产与娱乐业务，2016年由原奥飞动漫更名而来。集团拥有国漫平台有妖气，还在美国设有影视公司奥飞影业，并宣布将在美国设立动漫业务部门。
DASH vs MAX — 直观对比
营收规模更大
DASH
是对方的13.6倍
$291.2M
营收增速更快
DASH
高出40.8%
-3.2%
净利率更高
MAX
高出5.4%
5.4%
自由现金流更多
DASH
多$374.5M
$-7.5M
两年增速更快
MAX
近两年复合增速
25.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $291.2M |
| 净利润 | $213.0M | $31.4M |
| 毛利率 | — | 15.4% |
| 营业利润率 | 3.7% | 7.7% |
| 净利率 | 5.4% | 10.8% |
| 营收同比 | 37.7% | -3.2% |
| 净利润同比 | 51.1% | 576.9% |
| 每股收益（稀释后） | $0.49 | $0.50 |
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DASHMAX
| Q4 25 | $4.0B | $291.2M | ||
| Q3 25 | $3.4B | $306.5M | ||
| Q2 25 | $3.3B | $251.6M | ||
| Q1 25 | $3.0B | $264.3M | ||
| Q4 24 | $2.9B | $300.6M | ||
| Q3 24 | $2.7B | $259.1M | ||
| Q2 24 | $2.6B | $178.3M | ||
| Q1 24 | $2.5B | $126.6M |
净利润DASHMAX
| Q4 25 | $213.0M | $31.4M | ||
| Q3 25 | $244.0M | $14.9M | ||
| Q2 25 | $285.0M | $-18.7M | ||
| Q1 25 | $193.0M | $-1.9M | ||
| Q4 24 | $141.0M | $4.6M | ||
| Q3 24 | $162.0M | $9.5M | ||
| Q2 24 | $-157.0M | $3.6M | ||
| Q1 24 | $-23.0M | $-1.1M |
毛利率DASHMAX
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 14.2% | ||
| Q2 25 | — | 15.0% | ||
| Q1 25 | — | 15.8% | ||
| Q4 24 | — | 16.3% | ||
| Q3 24 | — | 15.1% | ||
| Q2 24 | — | 17.8% | ||
| Q1 24 | — | 18.7% |
营业利润率DASHMAX
| Q4 25 | 3.7% | 7.7% | ||
| Q3 25 | 7.5% | 6.4% | ||
| Q2 25 | 5.0% | -8.0% | ||
| Q1 25 | 5.1% | 0.0% | ||
| Q4 24 | 4.1% | 6.1% | ||
| Q3 24 | 4.0% | 6.0% | ||
| Q2 24 | -7.6% | 3.6% | ||
| Q1 24 | -2.4% | 1.9% |
净利率DASHMAX
| Q4 25 | 5.4% | 10.8% | ||
| Q3 25 | 7.1% | 4.9% | ||
| Q2 25 | 8.7% | -7.4% | ||
| Q1 25 | 6.4% | -0.7% | ||
| Q4 24 | 4.9% | 1.5% | ||
| Q3 24 | 6.0% | 3.7% | ||
| Q2 24 | -6.0% | 2.0% | ||
| Q1 24 | -0.9% | -0.9% |
每股收益（稀释后）DASHMAX
| Q4 25 | $0.49 | $0.50 | ||
| Q3 25 | $0.55 | $0.26 | ||
| Q2 25 | $0.65 | $-0.33 | ||
| Q1 25 | $0.44 | $-0.04 | ||
| Q4 24 | $0.35 | $0.09 | ||
| Q3 24 | $0.38 | $0.17 | ||
| Q2 24 | $-0.38 | $0.07 | ||
| Q1 24 | $-0.06 | $-0.02 |
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 | $46.9M |
| 总债务越低越好 | — | $153.4M |
| 股东权益账面价值 | $10.0B | $4.2M |
| 总资产 | $19.7B | $383.8M |
| 负债/权益比越低杠杆越低 | — | 36.88× |
8季度趋势，按日历期对齐
现金及短期投资DASHMAX
| Q4 25 | $4.4B | $46.9M | ||
| Q3 25 | $3.3B | $38.8M | ||
| Q2 25 | $3.9B | $85.4M | ||
| Q1 25 | $4.5B | $63.6M | ||
| Q4 24 | $4.0B | $43.3M | ||
| Q3 24 | $3.7B | $32.3M | ||
| Q2 24 | $3.4B | $28.7M | ||
| Q1 24 | $3.1B | $14.5M |
总债务DASHMAX
| Q4 25 | — | $153.4M | ||
| Q3 25 | — | $155.7M | ||
| Q2 25 | — | $158.0M | ||
| Q1 25 | — | $160.2M | ||
| Q4 24 | — | $162.4M | ||
| Q3 24 | — | $164.7M | ||
| Q2 24 | — | $166.9M | ||
| Q1 24 | — | $172.1M |
股东权益DASHMAX
| Q4 25 | $10.0B | $4.2M | ||
| Q3 25 | $9.5B | $-29.8M | ||
| Q2 25 | $8.9B | $-3.8M | ||
| Q1 25 | $8.4B | $7.9M | ||
| Q4 24 | $7.8B | $2.4M | ||
| Q3 24 | $7.6B | $-8.4M | ||
| Q2 24 | $7.2B | $-24.4M | ||
| Q1 24 | $7.0B | $-19.1M |
总资产DASHMAX
| Q4 25 | $19.7B | $383.8M | ||
| Q3 25 | $18.0B | $266.2M | ||
| Q2 25 | $16.9B | $249.4M | ||
| Q1 25 | $13.6B | $240.0M | ||
| Q4 24 | $12.8B | $262.4M | ||
| Q3 24 | $12.3B | $236.1M | ||
| Q2 24 | $11.8B | $198.2M | ||
| Q1 24 | $11.4B | $153.0M |
负债/权益比DASHMAX
| Q4 25 | — | 36.88× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 20.23× | ||
| Q4 24 | — | 68.31× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-7.4M |
| 自由现金流经营现金流 - 资本支出 | $367.0M | $-7.5M |
| 自由现金流率自由现金流/营收 | 9.3% | -2.6% |
| 资本支出强度资本支出/营收 | 1.4% | 0.0% |
| 现金转化率经营现金流/净利润 | 1.98× | -0.24× |
| 过去12个月自由现金流最近4个季度 | $2.2B | $65.3M |
8季度趋势，按日历期对齐
经营现金流DASHMAX
| Q4 25 | $421.0M | $-7.4M | ||
| Q3 25 | $871.0M | $23.6M | ||
| Q2 25 | $504.0M | $25.7M | ||
| Q1 25 | $635.0M | $23.7M | ||
| Q4 24 | $518.0M | $14.5M | ||
| Q3 24 | $531.0M | $8.1M | ||
| Q2 24 | $530.0M | $21.6M | ||
| Q1 24 | $553.0M | $1.7M |
自由现金流DASHMAX
| Q4 25 | $367.0M | $-7.5M | ||
| Q3 25 | $808.0M | $23.6M | ||
| Q2 25 | $438.0M | $25.5M | ||
| Q1 25 | $561.0M | $23.6M | ||
| Q4 24 | $486.0M | $14.5M | ||
| Q3 24 | $499.0M | $8.0M | ||
| Q2 24 | $507.0M | $21.5M | ||
| Q1 24 | $536.0M | $1.6M |
自由现金流率DASHMAX
| Q4 25 | 9.3% | -2.6% | ||
| Q3 25 | 23.4% | 7.7% | ||
| Q2 25 | 13.3% | 10.2% | ||
| Q1 25 | 18.5% | 8.9% | ||
| Q4 24 | 16.9% | 4.8% | ||
| Q3 24 | 18.4% | 3.1% | ||
| Q2 24 | 19.3% | 12.0% | ||
| Q1 24 | 21.3% | 1.3% |
资本支出强度DASHMAX
| Q4 25 | 1.4% | 0.0% | ||
| Q3 25 | 1.8% | 0.0% | ||
| Q2 25 | 2.0% | 0.1% | ||
| Q1 25 | 2.4% | 0.0% | ||
| Q4 24 | 1.1% | 0.0% | ||
| Q3 24 | 1.2% | 0.0% | ||
| Q2 24 | 0.9% | 0.1% | ||
| Q1 24 | 0.7% | 0.0% |
现金转化率DASHMAX
| Q4 25 | 1.98× | -0.24× | ||
| Q3 25 | 3.57× | 1.58× | ||
| Q2 25 | 1.77× | — | ||
| Q1 25 | 3.29× | — | ||
| Q4 24 | 3.67× | 3.13× | ||
| Q3 24 | 3.28× | 0.85× | ||
| Q2 24 | — | 5.97× | ||
| Q1 24 | — | — |
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
MAX
| Property And Casualty Insurance | $264.8M | 91% |
| Health Insurance | $20.8M | 7% |
| Sales Channel Through Intermediary | $7.2M | 2% |
