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DoorDash（DASH）与ServiceNow（NOW）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ServiceNow的1.0倍（$4.0B vs $3.8B），ServiceNow净利率更高（12.4% vs 5.4%，领先7.1%），DoorDash同比增速更快（37.7% vs 2.8%），ServiceNow自由现金流更多（$1.7B vs $367.0M），过去两年DoorDash的营收复合增速更高（25.5% vs 19.8%）
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。
ServiceNow是2003年由弗雷德·卢迪在美国加利福尼亚州圣克拉拉创立的软件企业，主打云计算平台产品，可支持企业搭建及管理自动化业务工作流。公司于纽交所上市，现为标普100及标普500指数成分股。
DASH vs NOW — 直观对比
营收规模更大
DASH
是对方的1.0倍
$3.8B
营收增速更快
DASH
高出34.9%
2.8%
净利率更高
NOW
高出7.1%
5.4%
自由现金流更多
NOW
多$1.3B
$367.0M
两年增速更快
DASH
近两年复合增速
19.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $3.8B |
| 净利润 | $213.0M | $469.0M |
| 毛利率 | — | 75.1% |
| 营业利润率 | 3.7% | 13.3% |
| 净利率 | 5.4% | 12.4% |
| 营收同比 | 37.7% | 2.8% |
| 净利润同比 | 51.1% | -53.7% |
| 每股收益（稀释后） | $0.49 | $1.04 |
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DASHNOW
| Q1 26 | — | $3.8B | ||
| Q4 25 | $4.0B | $3.6B | ||
| Q3 25 | $3.4B | $3.4B | ||
| Q2 25 | $3.3B | $3.2B | ||
| Q1 25 | $3.0B | $3.1B | ||
| Q4 24 | $2.9B | $3.0B | ||
| Q3 24 | $2.7B | $2.8B | ||
| Q2 24 | $2.6B | $2.6B |
净利润DASHNOW
| Q1 26 | — | $469.0M | ||
| Q4 25 | $213.0M | $401.0M | ||
| Q3 25 | $244.0M | $502.0M | ||
| Q2 25 | $285.0M | $385.0M | ||
| Q1 25 | $193.0M | $460.0M | ||
| Q4 24 | $141.0M | $384.0M | ||
| Q3 24 | $162.0M | $432.0M | ||
| Q2 24 | $-157.0M | $262.0M |
毛利率DASHNOW
| Q1 26 | — | 75.1% | ||
| Q4 25 | — | 76.6% | ||
| Q3 25 | — | 77.3% | ||
| Q2 25 | — | 77.5% | ||
| Q1 25 | — | 78.9% | ||
| Q4 24 | — | 78.7% | ||
| Q3 24 | — | 79.1% | ||
| Q2 24 | — | 79.0% |
营业利润率DASHNOW
| Q1 26 | — | 13.3% | ||
| Q4 25 | 3.7% | 12.4% | ||
| Q3 25 | 7.5% | 16.8% | ||
| Q2 25 | 5.0% | 11.1% | ||
| Q1 25 | 5.1% | 14.6% | ||
| Q4 24 | 4.1% | 12.6% | ||
| Q3 24 | 4.0% | 14.9% | ||
| Q2 24 | -7.6% | 9.1% |
净利率DASHNOW
| Q1 26 | — | 12.4% | ||
| Q4 25 | 5.4% | 11.2% | ||
| Q3 25 | 7.1% | 14.7% | ||
| Q2 25 | 8.7% | 12.0% | ||
| Q1 25 | 6.4% | 14.9% | ||
| Q4 24 | 4.9% | 13.0% | ||
| Q3 24 | 6.0% | 15.4% | ||
| Q2 24 | -6.0% | 10.0% |
每股收益（稀释后）DASHNOW
| Q1 26 | — | $1.04 | ||
| Q4 25 | $0.49 | $-4.77 | ||
| Q3 25 | $0.55 | $2.40 | ||
| Q2 25 | $0.65 | $1.84 | ||
| Q1 25 | $0.44 | $2.20 | ||
| Q4 24 | $0.35 | $1.84 | ||
| Q3 24 | $0.38 | $2.07 | ||
| Q2 24 | $-0.38 | $1.26 |
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 | $2.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $10.0B | $11.7B |
| 总资产 | $19.7B | $24.4B |
| 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DASHNOW
| Q1 26 | — | $2.7B | ||
| Q4 25 | $4.4B | $3.7B | ||
| Q3 25 | $3.3B | $2.7B | ||
| Q2 25 | $3.9B | $3.1B | ||
| Q1 25 | $4.5B | $3.4B | ||
| Q4 24 | $4.0B | $2.3B | ||
| Q3 24 | $3.7B | $1.9B | ||
| Q2 24 | $3.4B | $2.2B |
股东权益DASHNOW
| Q1 26 | — | $11.7B | ||
| Q4 25 | $10.0B | $13.0B | ||
| Q3 25 | $9.5B | $11.3B | ||
| Q2 25 | $8.9B | $10.9B | ||
| Q1 25 | $8.4B | $10.1B | ||
| Q4 24 | $7.8B | $9.6B | ||
| Q3 24 | $7.6B | $9.3B | ||
| Q2 24 | $7.2B | $8.7B |
总资产DASHNOW
| Q1 26 | — | $24.4B | ||
| Q4 25 | $19.7B | $26.0B | ||
| Q3 25 | $18.0B | $21.8B | ||
| Q2 25 | $16.9B | $22.1B | ||
| Q1 25 | $13.6B | $21.0B | ||
| Q4 24 | $12.8B | $20.4B | ||
| Q3 24 | $12.3B | $18.4B | ||
| Q2 24 | $11.8B | $18.2B |
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 | $1.7B |
| 自由现金流经营现金流 - 资本支出 | $367.0M | $1.7B |
| 自由现金流率自由现金流/营收 | 9.3% | 44.2% |
| 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× | 3.56× |
| 过去12个月自由现金流最近4个季度 | $2.2B | $4.8B |
8季度趋势，按日历期对齐
经营现金流DASHNOW
| Q1 26 | — | $1.7B | ||
| Q4 25 | $421.0M | $2.2B | ||
| Q3 25 | $871.0M | $813.0M | ||
| Q2 25 | $504.0M | $716.0M | ||
| Q1 25 | $635.0M | $1.7B | ||
| Q4 24 | $518.0M | $1.6B | ||
| Q3 24 | $531.0M | $671.0M | ||
| Q2 24 | $530.0M | $620.0M |
自由现金流DASHNOW
| Q1 26 | — | $1.7B | ||
| Q4 25 | $367.0M | $2.0B | ||
| Q3 25 | $808.0M | $578.0M | ||
| Q2 25 | $438.0M | $526.0M | ||
| Q1 25 | $561.0M | $1.5B | ||
| Q4 24 | $486.0M | $1.4B | ||
| Q3 24 | $499.0M | $469.0M | ||
| Q2 24 | $507.0M | $358.0M |
自由现金流率DASHNOW
| Q1 26 | — | 44.2% | ||
| Q4 25 | 9.3% | 56.1% | ||
| Q3 25 | 23.4% | 17.0% | ||
| Q2 25 | 13.3% | 16.4% | ||
| Q1 25 | 18.5% | 47.7% | ||
| Q4 24 | 16.9% | 46.7% | ||
| Q3 24 | 18.4% | 16.8% | ||
| Q2 24 | 19.3% | 13.6% |
资本支出强度DASHNOW
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 6.7% | ||
| Q3 25 | 1.8% | 6.9% | ||
| Q2 25 | 2.0% | 5.9% | ||
| Q1 25 | 2.4% | 6.6% | ||
| Q4 24 | 1.1% | 8.6% | ||
| Q3 24 | 1.2% | 7.2% | ||
| Q2 24 | 0.9% | 10.0% |
现金转化率DASHNOW
| Q1 26 | — | 3.56× | ||
| Q4 25 | 1.98× | 5.58× | ||
| Q3 25 | 3.57× | 1.62× | ||
| Q2 25 | 1.77× | 1.86× | ||
| Q1 25 | 3.29× | 3.65× | ||
| Q4 24 | 3.67× | 4.26× | ||
| Q3 24 | 3.28× | 1.55× | ||
| Q2 24 | — | 2.37× |
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
NOW
| Subscription revenues | $3.7B | 97% |
| Other | $80.5M | 2% |
| Professional services and other revenues | $18.5M | 0% |
