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DoorDash（DASH）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Vistra Corp.的季度营收约是DoorDash的1.2倍（$4.8B vs $4.0B），DoorDash净利率更高（5.4% vs 4.8%，领先0.5%），DoorDash同比增速更快（37.7% vs 31.2%），Vistra Corp.自由现金流更多（$596.0M vs $367.0M），过去两年DoorDash的营收复合增速更高（25.5% vs 23.3%）
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。
股票代码为VST的Vistra Corp是总部位于美国得克萨斯州的能源企业，主营电力生产、可再生能源开发及能源零售等业务。此外“Vistra”也可指一家总部位于中国香港的企业服务提供商，为全球客户提供公司注册、合规管理等专业服务。
DASH vs VST — 直观对比
营收规模更大
VST
是对方的1.2倍
$4.0B
营收增速更快
DASH
高出6.4%
31.2%
净利率更高
DASH
高出0.5%
4.8%
自由现金流更多
VST
多$229.0M
$367.0M
两年增速更快
DASH
近两年复合增速
23.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $4.8B |
| 净利润 | $213.0M | $233.0M |
| 毛利率 | — | — |
| 营业利润率 | 3.7% | 9.9% |
| 净利率 | 5.4% | 4.8% |
| 营收同比 | 37.7% | 31.2% |
| 净利润同比 | 51.1% | -47.2% |
| 每股收益（稀释后） | $0.49 | $0.55 |
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DASHVST
| Q4 25 | $4.0B | $4.8B | ||
| Q3 25 | $3.4B | $4.8B | ||
| Q2 25 | $3.3B | $3.8B | ||
| Q1 25 | $3.0B | $4.3B | ||
| Q4 24 | $2.9B | $3.7B | ||
| Q3 24 | $2.7B | $4.3B | ||
| Q2 24 | $2.6B | $3.6B | ||
| Q1 24 | $2.5B | $3.2B |
净利润DASHVST
| Q4 25 | $213.0M | $233.0M | ||
| Q3 25 | $244.0M | $652.0M | ||
| Q2 25 | $285.0M | $327.0M | ||
| Q1 25 | $193.0M | $-268.0M | ||
| Q4 24 | $141.0M | $441.0M | ||
| Q3 24 | $162.0M | $1.9B | ||
| Q2 24 | $-157.0M | $365.0M | ||
| Q1 24 | $-23.0M | $-35.0M |
营业利润率DASHVST
| Q4 25 | 3.7% | 9.9% | ||
| Q3 25 | 7.5% | 21.7% | ||
| Q2 25 | 5.0% | 13.7% | ||
| Q1 25 | 5.1% | -2.8% | ||
| Q4 24 | 4.1% | 16.4% | ||
| Q3 24 | 4.0% | 59.6% | ||
| Q2 24 | -7.6% | 22.5% | ||
| Q1 24 | -2.4% | 2.7% |
净利率DASHVST
| Q4 25 | 5.4% | 4.8% | ||
| Q3 25 | 7.1% | 13.6% | ||
| Q2 25 | 8.7% | 8.7% | ||
| Q1 25 | 6.4% | -6.3% | ||
| Q4 24 | 4.9% | 12.0% | ||
| Q3 24 | 6.0% | 43.5% | ||
| Q2 24 | -6.0% | 10.1% | ||
| Q1 24 | -0.9% | -1.1% |
每股收益（稀释后）DASHVST
| Q4 25 | $0.49 | $0.55 | ||
| Q3 25 | $0.55 | $1.75 | ||
| Q2 25 | $0.65 | $0.81 | ||
| Q1 25 | $0.44 | $-0.93 | ||
| Q4 24 | $0.35 | $1.09 | ||
| Q3 24 | $0.38 | $5.25 | ||
| Q2 24 | $-0.38 | $0.90 | ||
| Q1 24 | $-0.06 | $-0.24 |
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 | $785.0M |
| 总债务越低越好 | — | $15.8B |
| 股东权益账面价值 | $10.0B | $5.1B |
| 总资产 | $19.7B | $41.5B |
| 负债/权益比越低杠杆越低 | — | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资DASHVST
| Q4 25 | $4.4B | $785.0M | ||
| Q3 25 | $3.3B | $602.0M | ||
| Q2 25 | $3.9B | $458.0M | ||
| Q1 25 | $4.5B | $561.0M | ||
| Q4 24 | $4.0B | $1.2B | ||
| Q3 24 | $3.7B | $905.0M | ||
| Q2 24 | $3.4B | $1.6B | ||
| Q1 24 | $3.1B | $1.1B |
总债务DASHVST
| Q4 25 | — | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B | ||
| Q1 24 | — | $14.7B |
股东权益DASHVST
| Q4 25 | $10.0B | $5.1B | ||
| Q3 25 | $9.5B | $5.2B | ||
| Q2 25 | $8.9B | $4.8B | ||
| Q1 25 | $8.4B | $4.8B | ||
| Q4 24 | $7.8B | $5.6B | ||
| Q3 24 | $7.6B | $5.4B | ||
| Q2 24 | $7.2B | $5.6B | ||
| Q1 24 | $7.0B | $5.7B |
总资产DASHVST
| Q4 25 | $19.7B | $41.5B | ||
| Q3 25 | $18.0B | $38.0B | ||
| Q2 25 | $16.9B | $38.1B | ||
| Q1 25 | $13.6B | $38.2B | ||
| Q4 24 | $12.8B | $37.8B | ||
| Q3 24 | $12.3B | $37.9B | ||
| Q2 24 | $11.8B | $39.1B | ||
| Q1 24 | $11.4B | $38.2B |
负债/权益比DASHVST
| Q4 25 | — | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | — | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 2.49× | ||
| Q1 24 | — | 2.60× |
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 | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $367.0M | $596.0M |
| 自由现金流率自由现金流/营收 | 9.3% | 12.4% |
| 资本支出强度资本支出/营收 | 1.4% | 17.4% |
| 现金转化率经营现金流/净利润 | 1.98× | 6.15× |
| 过去12个月自由现金流最近4个季度 | $2.2B | $1.3B |
8季度趋势，按日历期对齐
经营现金流DASHVST
| Q4 25 | $421.0M | $1.4B | ||
| Q3 25 | $871.0M | $1.5B | ||
| Q2 25 | $504.0M | $572.0M | ||
| Q1 25 | $635.0M | $599.0M | ||
| Q4 24 | $518.0M | $1.4B | ||
| Q3 24 | $531.0M | $1.7B | ||
| Q2 24 | $530.0M | $1.2B | ||
| Q1 24 | $553.0M | $312.0M |
自由现金流DASHVST
| Q4 25 | $367.0M | $596.0M | ||
| Q3 25 | $808.0M | $1.0B | ||
| Q2 25 | $438.0M | $-118.0M | ||
| Q1 25 | $561.0M | $-169.0M | ||
| Q4 24 | $486.0M | $923.0M | ||
| Q3 24 | $499.0M | $1.0B | ||
| Q2 24 | $507.0M | $698.0M | ||
| Q1 24 | $536.0M | $-153.0M |
自由现金流率DASHVST
| Q4 25 | 9.3% | 12.4% | ||
| Q3 25 | 23.4% | 21.1% | ||
| Q2 25 | 13.3% | -3.1% | ||
| Q1 25 | 18.5% | -4.0% | ||
| Q4 24 | 16.9% | 25.2% | ||
| Q3 24 | 18.4% | 23.4% | ||
| Q2 24 | 19.3% | 19.4% | ||
| Q1 24 | 21.3% | -4.8% |
资本支出强度DASHVST
| Q4 25 | 1.4% | 17.4% | ||
| Q3 25 | 1.8% | 9.6% | ||
| Q2 25 | 2.0% | 18.4% | ||
| Q1 25 | 2.4% | 18.1% | ||
| Q4 24 | 1.1% | 11.7% | ||
| Q3 24 | 1.2% | 15.8% | ||
| Q2 24 | 0.9% | 13.8% | ||
| Q1 24 | 0.7% | 14.7% |
现金转化率DASHVST
| Q4 25 | 1.98× | 6.15× | ||
| Q3 25 | 3.57× | 2.25× | ||
| Q2 25 | 1.77× | 1.75× | ||
| Q1 25 | 3.29× | — | ||
| Q4 24 | 3.67× | 3.07× | ||
| Q3 24 | 3.28× | 0.90× | ||
| Q2 24 | — | 3.28× | ||
| Q1 24 | — | — |
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
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
