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DoorDash（DASH）与Norfolk Southern（NSC）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Norfolk Southern的1.4倍（$4.0B vs $3.0B），Norfolk Southern净利率更高（21.7% vs 7.1%，领先14.6%），DoorDash同比增速更快（8.3% vs -1.7%），DoorDash自由现金流更多（$355.0M vs $334.0M），过去两年DoorDash的营收复合增速更高（23.9% vs -0.5%）
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。
诺福克南方铁路是美国一级货运铁路运营商，总部位于亚特兰大，1982年由诺福克西部铁路与南方铁路合并组建。公司运营线路总长19420英里（约31250公里），覆盖美国东部22个州及华盛顿哥伦比亚特区，同时拥有加拿大太平洋堪萨斯城铁路奥尔巴尼至蒙特利尔线路的通行使用权。
DASH vs NSC — 直观对比
营收规模更大
DASH
是对方的1.4倍
$3.0B
营收增速更快
DASH
高出10.0%
-1.7%
净利率更高
NSC
高出14.6%
7.1%
自由现金流更多
DASH
多$21.0M
$334.0M
两年增速更快
DASH
近两年复合增速
-0.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $3.0B |
| 净利润 | $285.0M | $644.0M |
| 毛利率 | 39.8% | — |
| 营业利润率 | 3.7% | 31.5% |
| 净利率 | 7.1% | 21.7% |
| 营收同比 | 8.3% | -1.7% |
| 净利润同比 | 47.7% | -12.1% |
| 每股收益（稀释后） | $0.42 | $2.87 |
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DASHNSC
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.0B | $3.0B | ||
| Q3 25 | $3.4B | $3.1B | ||
| Q2 25 | $3.3B | $3.1B | ||
| Q1 25 | $3.0B | $3.0B | ||
| Q4 24 | $2.9B | $3.0B | ||
| Q3 24 | $2.7B | $3.1B | ||
| Q2 24 | $2.6B | $3.0B |
净利润DASHNSC
| Q1 26 | $285.0M | — | ||
| Q4 25 | $213.0M | $644.0M | ||
| Q3 25 | $244.0M | $711.0M | ||
| Q2 25 | $285.0M | $768.0M | ||
| Q1 25 | $193.0M | $750.0M | ||
| Q4 24 | $141.0M | $733.0M | ||
| Q3 24 | $162.0M | $1.1B | ||
| Q2 24 | $-157.0M | $737.0M |
毛利率DASHNSC
| Q1 26 | 39.8% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率DASHNSC
| Q1 26 | 3.7% | — | ||
| Q4 25 | 3.7% | 31.5% | ||
| Q3 25 | 7.5% | 35.4% | ||
| Q2 25 | 5.0% | 37.8% | ||
| Q1 25 | 5.1% | 38.3% | ||
| Q4 24 | 4.1% | 37.4% | ||
| Q3 24 | 4.0% | 52.3% | ||
| Q2 24 | -7.6% | 37.2% |
净利率DASHNSC
| Q1 26 | 7.1% | — | ||
| Q4 25 | 5.4% | 21.7% | ||
| Q3 25 | 7.1% | 22.9% | ||
| Q2 25 | 8.7% | 24.7% | ||
| Q1 25 | 6.4% | 25.1% | ||
| Q4 24 | 4.9% | 24.2% | ||
| Q3 24 | 6.0% | 36.0% | ||
| Q2 24 | -6.0% | 24.2% |
每股收益（稀释后）DASHNSC
| Q1 26 | $0.42 | — | ||
| Q4 25 | $0.49 | $2.87 | ||
| Q3 25 | $0.55 | $3.16 | ||
| Q2 25 | $0.65 | $3.41 | ||
| Q1 25 | $0.44 | $3.31 | ||
| Q4 24 | $0.35 | $3.24 | ||
| Q3 24 | $0.38 | $4.85 | ||
| Q2 24 | $-0.38 | $3.25 |
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 | $1.5B |
| 总债务越低越好 | — | $16.5B |
| 股东权益账面价值 | $10.2B | $15.5B |
| 总资产 | $19.7B | $45.2B |
| 负债/权益比越低杠杆越低 | — | 1.06× |
8季度趋势，按日历期对齐
现金及短期投资DASHNSC
| Q1 26 | $5.5B | — | ||
| Q4 25 | $4.4B | $1.5B | ||
| Q3 25 | $3.3B | $1.4B | ||
| Q2 25 | $3.9B | $1.3B | ||
| Q1 25 | $4.5B | $1.0B | ||
| Q4 24 | $4.0B | $1.6B | ||
| Q3 24 | $3.7B | $975.0M | ||
| Q2 24 | $3.4B | $659.0M |
总债务DASHNSC
| Q1 26 | — | — | ||
| Q4 25 | — | $16.5B | ||
| Q3 25 | — | $16.5B | ||
| Q2 25 | — | $16.5B | ||
| Q1 25 | — | $16.7B | ||
| Q4 24 | — | $16.7B | ||
| Q3 24 | — | $16.6B | ||
| Q2 24 | — | $16.9B |
股东权益DASHNSC
| Q1 26 | $10.2B | — | ||
| Q4 25 | $10.0B | $15.5B | ||
| Q3 25 | $9.5B | $15.1B | ||
| Q2 25 | $8.9B | $14.8B | ||
| Q1 25 | $8.4B | $14.5B | ||
| Q4 24 | $7.8B | $14.3B | ||
| Q3 24 | $7.6B | $13.8B | ||
| Q2 24 | $7.2B | $13.0B |
总资产DASHNSC
| Q1 26 | $19.7B | — | ||
| Q4 25 | $19.7B | $45.2B | ||
| Q3 25 | $18.0B | $44.6B | ||
| Q2 25 | $16.9B | $44.2B | ||
| Q1 25 | $13.6B | $43.8B | ||
| Q4 24 | $12.8B | $43.7B | ||
| Q3 24 | $12.3B | $43.3B | ||
| Q2 24 | $11.8B | $42.6B |
负债/权益比DASHNSC
| Q1 26 | — | — | ||
| Q4 25 | — | 1.06× | ||
| Q3 25 | — | 1.09× | ||
| Q2 25 | — | 1.11× | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | — | 1.16× | ||
| Q3 24 | — | 1.21× | ||
| Q2 24 | — | 1.30× |
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 | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $355.0M | $334.0M |
| 自由现金流率自由现金流/营收 | 8.8% | 11.2% |
| 资本支出强度资本支出/营收 | — | 24.5% |
| 现金转化率经营现金流/净利润 | 1.77× | 1.65× |
| 过去12个月自由现金流最近4个季度 | $2.0B | $2.2B |
8季度趋势，按日历期对齐
经营现金流DASHNSC
| Q1 26 | $504.0M | — | ||
| Q4 25 | $421.0M | $1.1B | ||
| Q3 25 | $871.0M | $1.3B | ||
| Q2 25 | $504.0M | $1.1B | ||
| Q1 25 | $635.0M | $950.0M | ||
| Q4 24 | $518.0M | $951.0M | ||
| Q3 24 | $531.0M | $1.2B | ||
| Q2 24 | $530.0M | $1.0B |
自由现金流DASHNSC
| Q1 26 | $355.0M | — | ||
| Q4 25 | $367.0M | $334.0M | ||
| Q3 25 | $808.0M | $720.0M | ||
| Q2 25 | $438.0M | $602.0M | ||
| Q1 25 | $561.0M | $501.0M | ||
| Q4 24 | $486.0M | $276.0M | ||
| Q3 24 | $499.0M | $645.0M | ||
| Q2 24 | $507.0M | $468.0M |
自由现金流率DASHNSC
| Q1 26 | 8.8% | — | ||
| Q4 25 | 9.3% | 11.2% | ||
| Q3 25 | 23.4% | 23.2% | ||
| Q2 25 | 13.3% | 19.4% | ||
| Q1 25 | 18.5% | 16.7% | ||
| Q4 24 | 16.9% | 9.1% | ||
| Q3 24 | 18.4% | 21.1% | ||
| Q2 24 | 19.3% | 15.4% |
资本支出强度DASHNSC
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 24.5% | ||
| Q3 25 | 1.8% | 17.8% | ||
| Q2 25 | 2.0% | 15.3% | ||
| Q1 25 | 2.4% | 15.0% | ||
| Q4 24 | 1.1% | 22.3% | ||
| Q3 24 | 1.2% | 19.0% | ||
| Q2 24 | 0.9% | 18.7% |
现金转化率DASHNSC
| Q1 26 | 1.77× | — | ||
| Q4 25 | 1.98× | 1.65× | ||
| Q3 25 | 3.57× | 1.79× | ||
| Q2 25 | 1.77× | 1.40× | ||
| Q1 25 | 3.29× | 1.27× | ||
| Q4 24 | 3.67× | 1.30× | ||
| Q3 24 | 3.28× | 1.12× | ||
| Q2 24 | — | 1.41× |
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
NSC
| Railway Operating Revenues Market Group Merchandise | $1.9B | 63% |
| Metals And Construction | $404.0M | 14% |
| Railway Operating Revenues Market Group Coal | $347.0M | 12% |
| Automotive | $293.0M | 10% |
