vs
DROPBOX, INC.（DBX）与FirstCash Holdings, Inc.（FCFS）财务数据对比。点击上方公司名可切换其他公司
DROPBOX, INC.的季度营收约是FirstCash Holdings, Inc.的1.3倍（$636.2M vs $501.3M），FirstCash Holdings, Inc.净利率更高（20.8% vs 17.1%，领先3.7%），FirstCash Holdings, Inc.同比增速更快（21.2% vs -1.1%），过去两年FirstCash Holdings, Inc.的营收复合增速更高（16.9% vs 0.4%）
Dropbox是总部位于美国加利福尼亚州旧金山的云服务企业，2007年由麻省理工学院学生德鲁·休斯顿与阿拉什·费尔多西创立，初创阶段获得创业孵化器Y Combinator的种子投资，核心业务包含云存储、文件同步、个人云及配套客户端软件等服务。
FirstCash Holdings, Inc.是总部位于美国得克萨斯州沃斯堡的典当企业，在美国及拉丁美洲多地运营线下典当零售门店，为纳斯达克证券交易所公开上市企业，在美洲典当服务领域拥有成熟的业务布局与完善的运营网络。
DBX vs FCFS — 直观对比
营收规模更大
DBX
是对方的1.3倍
$501.3M
营收增速更快
FCFS
高出22.3%
-1.1%
净利率更高
FCFS
高出3.7%
17.1%
两年增速更快
FCFS
近两年复合增速
0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $636.2M | $501.3M |
| 净利润 | $108.7M | $104.2M |
| 毛利率 | 79.2% | — |
| 营业利润率 | 25.5% | 28.5% |
| 净利率 | 17.1% | 20.8% |
| 营收同比 | -1.1% | 21.2% |
| 净利润同比 | 5.7% | 24.7% |
| 每股收益（稀释后） | $0.43 | $2.35 |
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DBXFCFS
| Q4 25 | $636.2M | $501.3M | ||
| Q3 25 | $634.4M | $411.0M | ||
| Q2 25 | $625.7M | $385.1M | ||
| Q1 25 | $624.7M | $371.1M | ||
| Q4 24 | $643.6M | $413.7M | ||
| Q3 24 | $638.8M | $363.1M | ||
| Q2 24 | $634.5M | $363.5M | ||
| Q1 24 | $631.3M | $366.8M |
净利润DBXFCFS
| Q4 25 | $108.7M | $104.2M | ||
| Q3 25 | $123.8M | $82.8M | ||
| Q2 25 | $125.6M | $59.8M | ||
| Q1 25 | $150.3M | $83.6M | ||
| Q4 24 | $102.8M | $83.5M | ||
| Q3 24 | $106.7M | $64.8M | ||
| Q2 24 | $110.5M | $49.1M | ||
| Q1 24 | $132.3M | $61.4M |
毛利率DBXFCFS
| Q4 25 | 79.2% | — | ||
| Q3 25 | 79.8% | — | ||
| Q2 25 | 80.2% | — | ||
| Q1 25 | 81.3% | — | ||
| Q4 24 | 81.2% | — | ||
| Q3 24 | 82.5% | — | ||
| Q2 24 | 83.1% | — | ||
| Q1 24 | 83.2% | — |
营业利润率DBXFCFS
| Q4 25 | 25.5% | 28.5% | ||
| Q3 25 | 27.5% | 27.4% | ||
| Q2 25 | 26.9% | 21.1% | ||
| Q1 25 | 29.4% | 30.0% | ||
| Q4 24 | 13.7% | 26.5% | ||
| Q3 24 | 20.0% | 23.5% | ||
| Q2 24 | 20.0% | 18.2% | ||
| Q1 24 | 22.7% | 22.3% |
净利率DBXFCFS
| Q4 25 | 17.1% | 20.8% | ||
| Q3 25 | 19.5% | 20.1% | ||
| Q2 25 | 20.1% | 15.5% | ||
| Q1 25 | 24.1% | 22.5% | ||
| Q4 24 | 16.0% | 20.2% | ||
| Q3 24 | 16.7% | 17.9% | ||
| Q2 24 | 17.4% | 13.5% | ||
| Q1 24 | 21.0% | 16.7% |
每股收益（稀释后）DBXFCFS
| Q4 25 | $0.43 | $2.35 | ||
| Q3 25 | $0.47 | $1.86 | ||
| Q2 25 | $0.45 | $1.34 | ||
| Q1 25 | $0.51 | $1.87 | ||
| Q4 24 | $0.33 | $1.86 | ||
| Q3 24 | $0.34 | $1.44 | ||
| Q2 24 | $0.34 | $1.08 | ||
| Q1 24 | $0.39 | $1.35 |
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 | $891.3M | $125.2M |
| 总债务越低越好 | — | $2.2B |
| 股东权益账面价值 | $-1.8B | $2.3B |
| 总资产 | $2.8B | $5.3B |
| 负债/权益比越低杠杆越低 | — | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资DBXFCFS
| Q4 25 | $891.3M | $125.2M | ||
| Q3 25 | $730.7M | $130.2M | ||
| Q2 25 | $736.3M | $101.5M | ||
| Q1 25 | $942.2M | $146.0M | ||
| Q4 24 | $1.3B | $175.1M | ||
| Q3 24 | $517.6M | $106.3M | ||
| Q2 24 | $515.1M | $113.7M | ||
| Q1 24 | $548.9M | $135.1M |
总债务DBXFCFS
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.5B |
股东权益DBXFCFS
| Q4 25 | $-1.8B | $2.3B | ||
| Q3 25 | $-1.5B | $2.2B | ||
| Q2 25 | $-1.3B | $2.1B | ||
| Q1 25 | $-1.1B | $2.1B | ||
| Q4 24 | $-752.4M | $2.1B | ||
| Q3 24 | $-546.1M | $2.0B | ||
| Q2 24 | $-371.3M | $2.0B | ||
| Q1 24 | $-277.2M | $2.0B |
总资产DBXFCFS
| Q4 25 | $2.8B | $5.3B | ||
| Q3 25 | $2.8B | $5.2B | ||
| Q2 25 | $2.8B | $4.5B | ||
| Q1 25 | $3.0B | $4.4B | ||
| Q4 24 | $3.3B | $4.5B | ||
| Q3 24 | $2.6B | $4.4B | ||
| Q2 24 | $2.7B | $4.3B | ||
| Q1 24 | $2.8B | $4.2B |
负债/权益比DBXFCFS
| Q4 25 | — | 0.98× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 0.79× | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | 0.85× | ||
| Q3 24 | — | 0.87× | ||
| Q2 24 | — | 0.85× | ||
| Q1 24 | — | 0.75× |
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 | $235.4M | $206.6M |
| 自由现金流经营现金流 - 资本支出 | $224.9M | — |
| 自由现金流率自由现金流/营收 | 35.4% | — |
| 资本支出强度资本支出/营收 | 1.7% | — |
| 现金转化率经营现金流/净利润 | 2.17× | 1.98× |
| 过去12个月自由现金流最近4个季度 | $930.8M | — |
8季度趋势，按日历期对齐
经营现金流DBXFCFS
| Q4 25 | $235.4M | $206.6M | ||
| Q3 25 | $302.1M | $135.8M | ||
| Q2 25 | $260.5M | $116.9M | ||
| Q1 25 | $153.8M | $126.6M | ||
| Q4 24 | $213.8M | $198.1M | ||
| Q3 24 | $274.2M | $113.1M | ||
| Q2 24 | $230.6M | $106.2M | ||
| Q1 24 | $175.5M | $122.5M |
自由现金流DBXFCFS
| Q4 25 | $224.9M | — | ||
| Q3 25 | $293.7M | — | ||
| Q2 25 | $258.5M | — | ||
| Q1 25 | $153.7M | — | ||
| Q4 24 | $210.5M | — | ||
| Q3 24 | $270.1M | — | ||
| Q2 24 | $224.7M | — | ||
| Q1 24 | $166.3M | — |
自由现金流率DBXFCFS
| Q4 25 | 35.4% | — | ||
| Q3 25 | 46.3% | — | ||
| Q2 25 | 41.3% | — | ||
| Q1 25 | 24.6% | — | ||
| Q4 24 | 32.7% | — | ||
| Q3 24 | 42.3% | — | ||
| Q2 24 | 35.4% | — | ||
| Q1 24 | 26.3% | — |
资本支出强度DBXFCFS
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.6% | — | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | 1.5% | — |
现金转化率DBXFCFS
| Q4 25 | 2.17× | 1.98× | ||
| Q3 25 | 2.44× | 1.64× | ||
| Q2 25 | 2.07× | 1.95× | ||
| Q1 25 | 1.02× | 1.51× | ||
| Q4 24 | 2.08× | 2.37× | ||
| Q3 24 | 2.57× | 1.74× | ||
| Q2 24 | 2.09× | 2.16× | ||
| Q1 24 | 1.33× | 2.00× |
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
DBX
| US | $355.3M | 56% |
| Non Us | $280.9M | 44% |
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
