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DoorDash（DASH）与Republic Services（RSG）财务数据对比。点击上方公司名可切换其他公司
Republic Services的季度营收约是DoorDash的1.0倍（$4.1B vs $4.0B），Republic Services净利率更高（13.2% vs 5.4%，领先7.8%），DoorDash同比增速更快（37.7% vs 2.2%），Republic Services自由现金流更多（$404.0M vs $367.0M），过去两年DoorDash的营收复合增速更高（25.5% vs 3.5%）
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。
Republic Services是北美头部垃圾处理企业，业务涵盖非危险固体废物收集、转运、处置、资源回收及能源服务，是美国仅次于废物管理公司的第二大垃圾处理服务商，核心运营聚焦非危固废全流程管理、可回收物资源化利用及相关能源服务。
DASH vs RSG — 直观对比
营收规模更大
RSG
是对方的1.0倍
$4.0B
营收增速更快
DASH
高出35.5%
2.2%
净利率更高
RSG
高出7.8%
5.4%
自由现金流更多
RSG
多$37.0M
$367.0M
两年增速更快
DASH
近两年复合增速
3.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $4.1B |
| 净利润 | $213.0M | $544.7M |
| 毛利率 | — | 41.9% |
| 营业利润率 | 3.7% | 19.4% |
| 净利率 | 5.4% | 13.2% |
| 营收同比 | 37.7% | 2.2% |
| 净利润同比 | 51.1% | 6.3% |
| 每股收益（稀释后） | $0.49 | $1.76 |
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DASHRSG
| Q4 25 | $4.0B | $4.1B | ||
| Q3 25 | $3.4B | $4.2B | ||
| Q2 25 | $3.3B | $4.2B | ||
| Q1 25 | $3.0B | $4.0B | ||
| Q4 24 | $2.9B | $4.0B | ||
| Q3 24 | $2.7B | $4.1B | ||
| Q2 24 | $2.6B | $4.0B | ||
| Q1 24 | $2.5B | $3.9B |
净利润DASHRSG
| Q4 25 | $213.0M | $544.7M | ||
| Q3 25 | $244.0M | $549.7M | ||
| Q2 25 | $285.0M | $549.9M | ||
| Q1 25 | $193.0M | $495.0M | ||
| Q4 24 | $141.0M | $512.2M | ||
| Q3 24 | $162.0M | $565.7M | ||
| Q2 24 | $-157.0M | $511.5M | ||
| Q1 24 | $-23.0M | $453.8M |
毛利率DASHRSG
| Q4 25 | — | 41.9% | ||
| Q3 25 | — | 41.5% | ||
| Q2 25 | — | 42.2% | ||
| Q1 25 | — | 42.3% | ||
| Q4 24 | — | 42.7% | ||
| Q3 24 | — | 41.9% | ||
| Q2 24 | — | 41.1% | ||
| Q1 24 | — | 40.9% |
营业利润率DASHRSG
| Q4 25 | 3.7% | 19.4% | ||
| Q3 25 | 7.5% | 19.8% | ||
| Q2 25 | 5.0% | 20.3% | ||
| Q1 25 | 5.1% | 20.1% | ||
| Q4 24 | 4.1% | 19.9% | ||
| Q3 24 | 4.0% | 20.8% | ||
| Q2 24 | -7.6% | 20.1% | ||
| Q1 24 | -2.4% | 19.0% |
净利率DASHRSG
| Q4 25 | 5.4% | 13.2% | ||
| Q3 25 | 7.1% | 13.1% | ||
| Q2 25 | 8.7% | 13.0% | ||
| Q1 25 | 6.4% | 12.3% | ||
| Q4 24 | 4.9% | 12.7% | ||
| Q3 24 | 6.0% | 13.9% | ||
| Q2 24 | -6.0% | 12.6% | ||
| Q1 24 | -0.9% | 11.8% |
每股收益（稀释后）DASHRSG
| Q4 25 | $0.49 | $1.76 | ||
| Q3 25 | $0.55 | $1.76 | ||
| Q2 25 | $0.65 | $1.75 | ||
| Q1 25 | $0.44 | $1.58 | ||
| Q4 24 | $0.35 | $1.63 | ||
| Q3 24 | $0.38 | $1.80 | ||
| Q2 24 | $-0.38 | $1.62 | ||
| Q1 24 | $-0.06 | $1.44 |
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 | $76.0M |
| 总债务越低越好 | — | $13.0B |
| 股东权益账面价值 | $10.0B | $12.0B |
| 总资产 | $19.7B | $34.4B |
| 负债/权益比越低杠杆越低 | — | 1.08× |
8季度趋势，按日历期对齐
现金及短期投资DASHRSG
| Q4 25 | $4.4B | $76.0M | ||
| Q3 25 | $3.3B | $84.0M | ||
| Q2 25 | $3.9B | $122.0M | ||
| Q1 25 | $4.5B | $83.0M | ||
| Q4 24 | $4.0B | $74.0M | ||
| Q3 24 | $3.7B | $83.4M | ||
| Q2 24 | $3.4B | $490.6M | ||
| Q1 24 | $3.1B | $91.6M |
总债务DASHRSG
| Q4 25 | — | $13.0B | ||
| Q3 25 | — | $12.4B | ||
| Q2 25 | — | $12.5B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | — | $11.9B | ||
| Q3 24 | — | $12.0B | ||
| Q2 24 | — | $11.5B | ||
| Q1 24 | — | $11.4B |
股东权益DASHRSG
| Q4 25 | $10.0B | $12.0B | ||
| Q3 25 | $9.5B | $11.9B | ||
| Q2 25 | $8.9B | $12.1B | ||
| Q1 25 | $8.4B | $11.7B | ||
| Q4 24 | $7.8B | $11.4B | ||
| Q3 24 | $7.6B | $11.2B | ||
| Q2 24 | $7.2B | $11.0B | ||
| Q1 24 | $7.0B | $10.8B |
总资产DASHRSG
| Q4 25 | $19.7B | $34.4B | ||
| Q3 25 | $18.0B | $33.8B | ||
| Q2 25 | $16.9B | $33.4B | ||
| Q1 25 | $13.6B | $33.1B | ||
| Q4 24 | $12.8B | $32.4B | ||
| Q3 24 | $12.3B | $31.8B | ||
| Q2 24 | $11.8B | $31.9B | ||
| Q1 24 | $11.4B | $31.4B |
负债/权益比DASHRSG
| Q4 25 | — | 1.08× | ||
| Q3 25 | — | 1.04× | ||
| Q2 25 | — | 1.04× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.04× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | — | 1.05× |
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 | $981.0M |
| 自由现金流经营现金流 - 资本支出 | $367.0M | $404.0M |
| 自由现金流率自由现金流/营收 | 9.3% | 9.8% |
| 资本支出强度资本支出/营收 | 1.4% | 14.0% |
| 现金转化率经营现金流/净利润 | 1.98× | 1.80× |
| 过去12个月自由现金流最近4个季度 | $2.2B | $2.4B |
8季度趋势，按日历期对齐
经营现金流DASHRSG
| Q4 25 | $421.0M | $981.0M | ||
| Q3 25 | $871.0M | $1.2B | ||
| Q2 25 | $504.0M | $1.1B | ||
| Q1 25 | $635.0M | $1.0B | ||
| Q4 24 | $518.0M | $1.0B | ||
| Q3 24 | $531.0M | $1.0B | ||
| Q2 24 | $530.0M | $1.1B | ||
| Q1 24 | $553.0M | $811.5M |
自由现金流DASHRSG
| Q4 25 | $367.0M | $404.0M | ||
| Q3 25 | $808.0M | $737.0M | ||
| Q2 25 | $438.0M | $702.0M | ||
| Q1 25 | $561.0M | $566.0M | ||
| Q4 24 | $486.0M | $524.4M | ||
| Q3 24 | $499.0M | $563.6M | ||
| Q2 24 | $507.0M | $696.0M | ||
| Q1 24 | $536.0M | $297.0M |
自由现金流率DASHRSG
| Q4 25 | 9.3% | 9.8% | ||
| Q3 25 | 23.4% | 17.5% | ||
| Q2 25 | 13.3% | 16.6% | ||
| Q1 25 | 18.5% | 14.1% | ||
| Q4 24 | 16.9% | 13.0% | ||
| Q3 24 | 18.4% | 13.8% | ||
| Q2 24 | 19.3% | 17.2% | ||
| Q1 24 | 21.3% | 7.7% |
资本支出强度DASHRSG
| Q4 25 | 1.4% | 14.0% | ||
| Q3 25 | 1.8% | 10.5% | ||
| Q2 25 | 2.0% | 9.6% | ||
| Q1 25 | 2.4% | 11.4% | ||
| Q4 24 | 1.1% | 12.3% | ||
| Q3 24 | 1.2% | 10.8% | ||
| Q2 24 | 0.9% | 10.0% | ||
| Q1 24 | 0.7% | 13.3% |
现金转化率DASHRSG
| Q4 25 | 1.98× | 1.80× | ||
| Q3 25 | 3.57× | 2.15× | ||
| Q2 25 | 1.77× | 2.02× | ||
| Q1 25 | 3.29× | 2.07× | ||
| Q4 24 | 3.67× | 2.00× | ||
| Q3 24 | 3.28× | 1.77× | ||
| Q2 24 | — | 2.15× | ||
| Q1 24 | — | 1.79× |
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
RSG
| Other | $1.1B | 26% |
| Landfill Service Line | $780.0M | 19% |
| Collection Service Line Residential | $761.0M | 18% |
| Transfer Service Line | $458.0M | 11% |
| Environmental Solutions Service Line | $435.0M | 11% |
| Group3Segment | $423.0M | 10% |
| Other Service Line Sale Of Recycled Commodities | $104.0M | 3% |
| Other Service Line Other Noncore | $94.0M | 2% |
| Collection Service Line Other | $18.0M | 0% |
