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DoorDash（DASH）与联合太平洋（UNP）财务数据对比。点击上方公司名可切换其他公司
联合太平洋的季度营收约是DoorDash的1.6倍（$6.2B vs $4.0B），联合太平洋净利率更高（27.4% vs 5.4%，领先22.0%），DoorDash同比增速更快（37.7% vs 3.2%），联合太平洋自由现金流更多（$631.0M vs $367.0M），过去两年DoorDash的营收复合增速更高（25.5% vs 1.7%）
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。
联合太平洋是美国一级货运铁路运营商，共运营8300台机车，线路总长超5.18万公里，覆盖芝加哥、新奥尔良以西的23个美国州，是全美规模仅次于BNSF的第二大铁路企业。
DASH vs UNP — 直观对比
营收规模更大
UNP
是对方的1.6倍
$4.0B
营收增速更快
DASH
高出34.5%
3.2%
净利率更高
UNP
高出22.0%
5.4%
自由现金流更多
UNP
多$264.0M
$367.0M
两年增速更快
DASH
近两年复合增速
1.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $6.2B |
| 净利润 | $213.0M | $1.7B |
| 毛利率 | — | — |
| 营业利润率 | 3.7% | 39.5% |
| 净利率 | 5.4% | 27.4% |
| 营收同比 | 37.7% | 3.2% |
| 净利润同比 | 51.1% | 4.6% |
| 每股收益（稀释后） | $0.49 | $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DASHUNP
| Q1 26 | — | $6.2B | ||
| Q4 25 | $4.0B | $6.1B | ||
| Q3 25 | $3.4B | $6.2B | ||
| Q2 25 | $3.3B | $6.2B | ||
| Q1 25 | $3.0B | $6.0B | ||
| Q4 24 | $2.9B | $6.1B | ||
| Q3 24 | $2.7B | $6.1B | ||
| Q2 24 | $2.6B | $6.0B |
净利润DASHUNP
| Q1 26 | — | $1.7B | ||
| Q4 25 | $213.0M | $1.8B | ||
| Q3 25 | $244.0M | $1.8B | ||
| Q2 25 | $285.0M | $1.9B | ||
| Q1 25 | $193.0M | $1.6B | ||
| Q4 24 | $141.0M | $1.8B | ||
| Q3 24 | $162.0M | $1.7B | ||
| Q2 24 | $-157.0M | $1.7B |
营业利润率DASHUNP
| Q1 26 | — | 39.5% | ||
| Q4 25 | 3.7% | 39.5% | ||
| Q3 25 | 7.5% | 40.8% | ||
| Q2 25 | 5.0% | 41.0% | ||
| Q1 25 | 5.1% | 39.3% | ||
| Q4 24 | 4.1% | 41.3% | ||
| Q3 24 | 4.0% | 39.7% | ||
| Q2 24 | -7.6% | 40.0% |
净利率DASHUNP
| Q1 26 | — | 27.4% | ||
| Q4 25 | 5.4% | 30.4% | ||
| Q3 25 | 7.1% | 28.6% | ||
| Q2 25 | 8.7% | 30.5% | ||
| Q1 25 | 6.4% | 27.0% | ||
| Q4 24 | 4.9% | 28.8% | ||
| Q3 24 | 6.0% | 27.4% | ||
| Q2 24 | -6.0% | 27.9% |
每股收益（稀释后）DASHUNP
| Q1 26 | — | $2.87 | ||
| Q4 25 | $0.49 | $3.12 | ||
| Q3 25 | $0.55 | $3.01 | ||
| Q2 25 | $0.65 | $3.15 | ||
| Q1 25 | $0.44 | $2.70 | ||
| Q4 24 | $0.35 | $2.91 | ||
| Q3 24 | $0.38 | $2.75 | ||
| Q2 24 | $-0.38 | $2.74 |
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 | $735.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $10.0B | — |
| 总资产 | $19.7B | $69.6B |
| 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DASHUNP
| Q1 26 | — | $735.0M | ||
| Q4 25 | $4.4B | $1.3B | ||
| Q3 25 | $3.3B | $808.0M | ||
| Q2 25 | $3.9B | $1.1B | ||
| Q1 25 | $4.5B | $1.4B | ||
| Q4 24 | $4.0B | $1.0B | ||
| Q3 24 | $3.7B | $947.0M | ||
| Q2 24 | $3.4B | $1.1B |
总债务DASHUNP
| Q1 26 | — | — | ||
| Q4 25 | — | $30.3B | ||
| Q3 25 | — | $30.3B | ||
| Q2 25 | — | $30.3B | ||
| Q1 25 | — | $30.6B | ||
| Q4 24 | — | $29.8B | ||
| Q3 24 | — | $29.8B | ||
| Q2 24 | — | $31.2B |
股东权益DASHUNP
| Q1 26 | — | — | ||
| Q4 25 | $10.0B | $18.5B | ||
| Q3 25 | $9.5B | $17.3B | ||
| Q2 25 | $8.9B | $16.3B | ||
| Q1 25 | $8.4B | $16.0B | ||
| Q4 24 | $7.8B | $16.9B | ||
| Q3 24 | $7.6B | $16.6B | ||
| Q2 24 | $7.2B | $16.5B |
总资产DASHUNP
| Q1 26 | — | $69.6B | ||
| Q4 25 | $19.7B | $69.7B | ||
| Q3 25 | $18.0B | $68.6B | ||
| Q2 25 | $16.9B | $68.6B | ||
| Q1 25 | $13.6B | $68.5B | ||
| Q4 24 | $12.8B | $67.7B | ||
| Q3 24 | $12.3B | $67.6B | ||
| Q2 24 | $11.8B | $67.8B |
负债/权益比DASHUNP
| Q1 26 | — | — | ||
| Q4 25 | — | 1.64× | ||
| Q3 25 | — | 1.75× | ||
| Q2 25 | — | 1.86× | ||
| Q1 25 | — | 1.91× | ||
| Q4 24 | — | 1.76× | ||
| Q3 24 | — | 1.79× | ||
| Q2 24 | — | 1.89× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $367.0M | $631.0M |
| 自由现金流率自由现金流/营收 | 9.3% | 10.1% |
| 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× | — |
| 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DASHUNP
| Q1 26 | — | — | ||
| Q4 25 | $421.0M | $2.2B | ||
| Q3 25 | $871.0M | $2.5B | ||
| Q2 25 | $504.0M | $2.3B | ||
| Q1 25 | $635.0M | $2.2B | ||
| Q4 24 | $518.0M | $2.7B | ||
| Q3 24 | $531.0M | $2.7B | ||
| Q2 24 | $530.0M | $1.9B |
自由现金流DASHUNP
| Q1 26 | — | $631.0M | ||
| Q4 25 | $367.0M | $1.2B | ||
| Q3 25 | $808.0M | $1.6B | ||
| Q2 25 | $438.0M | $1.4B | ||
| Q1 25 | $561.0M | $1.3B | ||
| Q4 24 | $486.0M | $1.7B | ||
| Q3 24 | $499.0M | $1.8B | ||
| Q2 24 | $507.0M | $1.0B |
自由现金流率DASHUNP
| Q1 26 | — | 10.1% | ||
| Q4 25 | 9.3% | 20.1% | ||
| Q3 25 | 23.4% | 25.2% | ||
| Q2 25 | 13.3% | 22.7% | ||
| Q1 25 | 18.5% | 21.6% | ||
| Q4 24 | 16.9% | 28.4% | ||
| Q3 24 | 18.4% | 29.9% | ||
| Q2 24 | 19.3% | 16.8% |
资本支出强度DASHUNP
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 16.4% | ||
| Q3 25 | 1.8% | 15.2% | ||
| Q2 25 | 2.0% | 15.2% | ||
| Q1 25 | 2.4% | 15.0% | ||
| Q4 24 | 1.1% | 15.1% | ||
| Q3 24 | 1.2% | 13.6% | ||
| Q2 24 | 0.9% | 15.0% |
现金转化率DASHUNP
| Q1 26 | — | — | ||
| Q4 25 | 1.98× | 1.20× | ||
| Q3 25 | 3.57× | 1.41× | ||
| Q2 25 | 1.77× | 1.24× | ||
| Q1 25 | 3.29× | 1.36× | ||
| Q4 24 | 3.67× | 1.51× | ||
| Q3 24 | 3.28× | 1.59× | ||
| Q2 24 | — | 1.14× |
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
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
