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DoorDash（DASH）与摩托罗拉解决方案（MSI）财务数据对比。点击上方公司名可切换其他公司
DoorDash的季度营收约是摩托罗拉解决方案的1.5倍（$4.0B vs $2.7B），摩托罗拉解决方案净利率更高（13.5% vs 7.1%，领先6.4%），DoorDash同比增速更快（8.3% vs 7.4%），摩托罗拉解决方案自由现金流更多（$389.0M vs $355.0M），过去两年DoorDash的营收复合增速更高（23.9% vs 1.6%）
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。
摩托罗拉解决方案是美国科技企业，总部位于伊利诺伊州芝加哥，2011年由摩托罗拉公司拆分成立。公司面向公共安全部门及企业客户，提供关键通信、视频安防、指挥中心技术等安全防护类产品与服务。
DASH vs MSI — 直观对比
营收规模更大
DASH
是对方的1.5倍
$2.7B
营收增速更快
DASH
高出1.0%
7.4%
净利率更高
MSI
高出6.4%
7.1%
自由现金流更多
MSI
多$34.0M
$355.0M
两年增速更快
DASH
近两年复合增速
1.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $2.7B |
| 净利润 | $285.0M | $366.0M |
| 毛利率 | 39.8% | — |
| 营业利润率 | 3.7% | 19.3% |
| 净利率 | 7.1% | 13.5% |
| 营收同比 | 8.3% | 7.4% |
| 净利润同比 | 47.7% | -14.9% |
| 每股收益（稀释后） | $0.42 | $2.18 |
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DASHMSI
| Q1 26 | $4.0B | $2.7B | ||
| Q4 25 | $4.0B | $3.4B | ||
| Q3 25 | $3.4B | $3.0B | ||
| Q2 25 | $3.3B | $2.8B | ||
| Q1 25 | $3.0B | $2.5B | ||
| Q4 24 | $2.9B | $3.0B | ||
| Q3 24 | $2.7B | $2.8B | ||
| Q2 24 | $2.6B | $2.6B |
净利润DASHMSI
| Q1 26 | $285.0M | $366.0M | ||
| Q4 25 | $213.0M | $649.0M | ||
| Q3 25 | $244.0M | $562.0M | ||
| Q2 25 | $285.0M | $513.0M | ||
| Q1 25 | $193.0M | $430.0M | ||
| Q4 24 | $141.0M | $611.0M | ||
| Q3 24 | $162.0M | $562.0M | ||
| Q2 24 | $-157.0M | $443.0M |
毛利率DASHMSI
| Q1 26 | 39.8% | — | ||
| Q4 25 | — | 52.3% | ||
| Q3 25 | — | 51.6% | ||
| Q2 25 | — | 51.1% | ||
| Q1 25 | — | 51.4% | ||
| Q4 24 | — | 51.4% | ||
| Q3 24 | — | 51.4% | ||
| Q2 24 | — | 51.0% |
营业利润率DASHMSI
| Q1 26 | 3.7% | 19.3% | ||
| Q4 25 | 3.7% | 27.9% | ||
| Q3 25 | 7.5% | 25.6% | ||
| Q2 25 | 5.0% | 25.0% | ||
| Q1 25 | 5.1% | 23.0% | ||
| Q4 24 | 4.1% | 27.0% | ||
| Q3 24 | 4.0% | 25.5% | ||
| Q2 24 | -7.6% | 24.5% |
净利率DASHMSI
| Q1 26 | 7.1% | 13.5% | ||
| Q4 25 | 5.4% | 19.2% | ||
| Q3 25 | 7.1% | 18.7% | ||
| Q2 25 | 8.7% | 18.6% | ||
| Q1 25 | 6.4% | 17.0% | ||
| Q4 24 | 4.9% | 20.3% | ||
| Q3 24 | 6.0% | 20.1% | ||
| Q2 24 | -6.0% | 16.9% |
每股收益（稀释后）DASHMSI
| Q1 26 | $0.42 | $2.18 | ||
| Q4 25 | $0.49 | $3.85 | ||
| Q3 25 | $0.55 | $3.33 | ||
| Q2 25 | $0.65 | $3.04 | ||
| Q1 25 | $0.44 | $2.53 | ||
| Q4 24 | $0.35 | $3.57 | ||
| Q3 24 | $0.38 | $3.29 | ||
| Q2 24 | $-0.38 | $2.60 |
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 | $5.5B | $886.0M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $10.2B | — |
| 总资产 | $19.7B | $19.1B |
| 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DASHMSI
| Q1 26 | $5.5B | $886.0M | ||
| Q4 25 | $4.4B | $1.2B | ||
| Q3 25 | $3.3B | $894.0M | ||
| Q2 25 | $3.9B | $3.2B | ||
| Q1 25 | $4.5B | $1.6B | ||
| Q4 24 | $4.0B | $2.1B | ||
| Q3 24 | $3.7B | $1.4B | ||
| Q2 24 | $3.4B | $1.4B |
总债务DASHMSI
| Q1 26 | — | $9.0B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益DASHMSI
| Q1 26 | $10.2B | — | ||
| Q4 25 | $10.0B | $2.4B | ||
| Q3 25 | $9.5B | $2.3B | ||
| Q2 25 | $8.9B | $2.0B | ||
| Q1 25 | $8.4B | $1.6B | ||
| Q4 24 | $7.8B | $1.7B | ||
| Q3 24 | $7.6B | $1.3B | ||
| Q2 24 | $7.2B | $802.0M |
总资产DASHMSI
| Q1 26 | $19.7B | $19.1B | ||
| Q4 25 | $19.7B | $19.4B | ||
| Q3 25 | $18.0B | $18.8B | ||
| Q2 25 | $16.9B | $16.4B | ||
| Q1 25 | $13.6B | $14.4B | ||
| Q4 24 | $12.8B | $14.6B | ||
| Q3 24 | $12.3B | $13.9B | ||
| Q2 24 | $11.8B | $13.3B |
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 | $504.0M | $451.0M |
| 自由现金流经营现金流 - 资本支出 | $355.0M | $389.0M |
| 自由现金流率自由现金流/营收 | 8.8% | 14.3% |
| 资本支出强度资本支出/营收 | — | 2.3% |
| 现金转化率经营现金流/净利润 | 1.77× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $2.0B | $2.5B |
8季度趋势，按日历期对齐
经营现金流DASHMSI
| Q1 26 | $504.0M | $451.0M | ||
| Q4 25 | $421.0M | $1.3B | ||
| Q3 25 | $871.0M | $798.0M | ||
| Q2 25 | $504.0M | $273.0M | ||
| Q1 25 | $635.0M | $510.0M | ||
| Q4 24 | $518.0M | $1.1B | ||
| Q3 24 | $531.0M | $759.0M | ||
| Q2 24 | $530.0M | $180.0M |
自由现金流DASHMSI
| Q1 26 | $355.0M | $389.0M | ||
| Q4 25 | $367.0M | $1.1B | ||
| Q3 25 | $808.0M | $732.0M | ||
| Q2 25 | $438.0M | $225.0M | ||
| Q1 25 | $561.0M | $473.0M | ||
| Q4 24 | $486.0M | $984.0M | ||
| Q3 24 | $499.0M | $702.0M | ||
| Q2 24 | $507.0M | $112.0M |
自由现金流率DASHMSI
| Q1 26 | 8.8% | 14.3% | ||
| Q4 25 | 9.3% | 33.8% | ||
| Q3 25 | 23.4% | 24.3% | ||
| Q2 25 | 13.3% | 8.1% | ||
| Q1 25 | 18.5% | 18.7% | ||
| Q4 24 | 16.9% | 32.7% | ||
| Q3 24 | 18.4% | 25.2% | ||
| Q2 24 | 19.3% | 4.3% |
资本支出强度DASHMSI
| Q1 26 | — | 2.3% | ||
| Q4 25 | 1.4% | 3.4% | ||
| Q3 25 | 1.8% | 2.2% | ||
| Q2 25 | 2.0% | 1.7% | ||
| Q1 25 | 2.4% | 1.5% | ||
| Q4 24 | 1.1% | 2.9% | ||
| Q3 24 | 1.2% | 2.0% | ||
| Q2 24 | 0.9% | 2.6% |
现金转化率DASHMSI
| Q1 26 | 1.77× | 1.23× | ||
| Q4 25 | 1.98× | 1.94× | ||
| Q3 25 | 3.57× | 1.42× | ||
| Q2 25 | 1.77× | 0.53× | ||
| Q1 25 | 3.29× | 1.19× | ||
| Q4 24 | 3.67× | 1.75× | ||
| Q3 24 | 3.28× | 1.35× | ||
| Q2 24 | — | 0.41× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
