vs
DoorDash（DASH）与蔚来（NIO）财务数据对比。点击上方公司名可切换其他公司
蔚来的季度营收约是DoorDash的1.2倍（$4.7B vs $4.0B），DoorDash净利率更高（5.4% vs 0.8%，领先4.6%），DoorDash自由现金流更多（$367.0M vs $-439.4M）
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。
蔚来是中国本土新能源汽车制造商，总部位于上海，2014年成立，2016年正式启用现有品牌名称。公司专注于智能电动汽车的研发、设计与销售，产品覆盖轿车、SUV等多个品类，近年已将业务拓展至智能手机研发领域。
DASH vs NIO — 直观对比
营收规模更大
NIO
是对方的1.2倍
$4.0B
净利率更高
DASH
高出4.6%
0.8%
自由现金流更多
DASH
多$806.4M
$-439.4M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $4.7B |
| 净利润 | $213.0M | $38.7M |
| 毛利率 | — | 17.5% |
| 营业利润率 | 3.7% | 1.5% |
| 净利率 | 5.4% | 0.8% |
| 营收同比 | 37.7% | — |
| 净利润同比 | 51.1% | — |
| 每股收益（稀释后） | $0.49 | $0.05 |
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DASHNIO
| Q1 26 | — | $4.7B | ||
| Q4 25 | $4.0B | — | ||
| Q3 25 | $3.4B | $3.0B | ||
| Q2 25 | $3.3B | $2.6B | ||
| Q1 25 | $3.0B | $2.7B | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.6B | — |
净利润DASHNIO
| Q1 26 | — | $38.7M | ||
| Q4 25 | $213.0M | — | ||
| Q3 25 | $244.0M | $-505.2M | ||
| Q2 25 | $285.0M | $-709.5M | ||
| Q1 25 | $193.0M | $-984.2M | ||
| Q4 24 | $141.0M | — | ||
| Q3 24 | $162.0M | — | ||
| Q2 24 | $-157.0M | — |
毛利率DASHNIO
| Q1 26 | — | 17.5% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 13.9% | ||
| Q2 25 | — | 10.0% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率DASHNIO
| Q1 26 | — | 1.5% | ||
| Q4 25 | 3.7% | — | ||
| Q3 25 | 7.5% | -16.2% | ||
| Q2 25 | 5.0% | -25.8% | ||
| Q1 25 | 5.1% | -30.6% | ||
| Q4 24 | 4.1% | — | ||
| Q3 24 | 4.0% | — | ||
| Q2 24 | -7.6% | — |
净利率DASHNIO
| Q1 26 | — | 0.8% | ||
| Q4 25 | 5.4% | — | ||
| Q3 25 | 7.1% | -16.8% | ||
| Q2 25 | 8.7% | -27.0% | ||
| Q1 25 | 6.4% | -36.2% | ||
| Q4 24 | 4.9% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | -6.0% | — |
每股收益（稀释后）DASHNIO
| Q1 26 | — | $0.05 | ||
| Q4 25 | $0.49 | — | ||
| Q3 25 | $0.55 | $-1.51 | ||
| Q2 25 | $0.65 | $-2.31 | ||
| Q1 25 | $0.44 | $-3.47 | ||
| Q4 24 | $0.35 | — | ||
| Q3 24 | $0.38 | — | ||
| Q2 24 | $-0.38 | — |
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 | $4.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $10.0B | $594.8M |
| 总资产 | $19.7B | $17.8B |
| 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DASHNIO
| Q1 26 | — | $4.4B | ||
| Q4 25 | $4.4B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.9B | $2.5B | ||
| Q1 25 | $4.5B | $4.6B | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $3.7B | — | ||
| Q2 24 | $3.4B | — |
股东权益DASHNIO
| Q1 26 | — | $594.8M | ||
| Q4 25 | $10.0B | — | ||
| Q3 25 | $9.5B | — | ||
| Q2 25 | $8.9B | $-168.3M | ||
| Q1 25 | $8.4B | $817.5M | ||
| Q4 24 | $7.8B | — | ||
| Q3 24 | $7.6B | — | ||
| Q2 24 | $7.2B | — |
总资产DASHNIO
| Q1 26 | — | $17.8B | ||
| Q4 25 | $19.7B | — | ||
| Q3 25 | $18.0B | — | ||
| Q2 25 | $16.9B | $14.0B | ||
| Q1 25 | $13.6B | $14.7B | ||
| Q4 24 | $12.8B | — | ||
| Q3 24 | $12.3B | — | ||
| Q2 24 | $11.8B | — |
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 | $427.9M |
| 自由现金流经营现金流 - 资本支出 | $367.0M | $-439.4M |
| 自由现金流率自由现金流/营收 | 9.3% | -9.3% |
| 资本支出强度资本支出/营收 | 1.4% | 18.4% |
| 现金转化率经营现金流/净利润 | 1.98× | 11.07× |
| 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DASHNIO
| Q1 26 | — | $427.9M | ||
| Q4 25 | $421.0M | — | ||
| Q3 25 | $871.0M | — | ||
| Q2 25 | $504.0M | — | ||
| Q1 25 | $635.0M | $-1.1B | ||
| Q4 24 | $518.0M | — | ||
| Q3 24 | $531.0M | — | ||
| Q2 24 | $530.0M | — |
自由现金流DASHNIO
| Q1 26 | — | $-439.4M | ||
| Q4 25 | $367.0M | — | ||
| Q3 25 | $808.0M | — | ||
| Q2 25 | $438.0M | — | ||
| Q1 25 | $561.0M | $-2.3B | ||
| Q4 24 | $486.0M | — | ||
| Q3 24 | $499.0M | — | ||
| Q2 24 | $507.0M | — |
自由现金流率DASHNIO
| Q1 26 | — | -9.3% | ||
| Q4 25 | 9.3% | — | ||
| Q3 25 | 23.4% | — | ||
| Q2 25 | 13.3% | — | ||
| Q1 25 | 18.5% | -85.6% | ||
| Q4 24 | 16.9% | — | ||
| Q3 24 | 18.4% | — | ||
| Q2 24 | 19.3% | — |
资本支出强度DASHNIO
| Q1 26 | — | 18.4% | ||
| Q4 25 | 1.4% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 2.4% | 46.1% | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 0.9% | — |
现金转化率DASHNIO
| Q1 26 | — | 11.07× | ||
| Q4 25 | 1.98× | — | ||
| Q3 25 | 3.57× | — | ||
| Q2 25 | 1.77× | — | ||
| Q1 25 | 3.29× | — | ||
| Q4 24 | 3.67× | — | ||
| Q3 24 | 3.28× | — | ||
| Q2 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
