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DROPBOX, INC.（DBX）与IES Holdings, Inc.（IESC）财务数据对比。点击上方公司名可切换其他公司
IES Holdings, Inc.的季度营收约是DROPBOX, INC.的1.4倍（$871.0M vs $636.2M），DROPBOX, INC.净利率更高（17.1% vs 10.5%，领先6.5%），IES Holdings, Inc.同比增速更快（16.2% vs -1.1%），DROPBOX, INC.自由现金流更多（$224.9M vs $-18.9M），过去两年IES Holdings, Inc.的营收复合增速更高（11.1% 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。
IES Holdings, Inc.前身为Integrated Electrical Services, Inc.，主营业务为集成电气及技术系统的设计与安装，同时面向数据中心、住宅、商业和工业设施等多元终端市场提供基础设施类产品及相关服务。
DBX vs IESC — 直观对比
营收规模更大
IESC
是对方的1.4倍
$636.2M
营收增速更快
IESC
高出17.3%
-1.1%
净利率更高
DBX
高出6.5%
10.5%
自由现金流更多
DBX
多$243.8M
$-18.9M
两年增速更快
IESC
近两年复合增速
0.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $636.2M | $871.0M |
| 净利润 | $108.7M | $91.8M |
| 毛利率 | 79.2% | 25.3% |
| 营业利润率 | 25.5% | 11.2% |
| 净利率 | 17.1% | 10.5% |
| 营收同比 | -1.1% | 16.2% |
| 净利润同比 | 5.7% | 59.1% |
| 每股收益（稀释后） | $0.43 | $4.51 |
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DBXIESC
| Q4 25 | $636.2M | $871.0M | ||
| Q3 25 | $634.4M | $897.8M | ||
| Q2 25 | $625.7M | $890.2M | ||
| Q1 25 | $624.7M | $834.0M | ||
| Q4 24 | $643.6M | $749.5M | ||
| Q3 24 | $638.8M | $775.8M | ||
| Q2 24 | $634.5M | $768.4M | ||
| Q1 24 | $631.3M | $705.7M |
净利润DBXIESC
| Q4 25 | $108.7M | $91.8M | ||
| Q3 25 | $123.8M | $102.3M | ||
| Q2 25 | $125.6M | $79.3M | ||
| Q1 25 | $150.3M | $72.6M | ||
| Q4 24 | $102.8M | $57.7M | ||
| Q3 24 | $106.7M | $65.5M | ||
| Q2 24 | $110.5M | $66.6M | ||
| Q1 24 | $132.3M | $56.8M |
毛利率DBXIESC
| Q4 25 | 79.2% | 25.3% | ||
| Q3 25 | 79.8% | 26.0% | ||
| Q2 25 | 80.2% | 26.9% | ||
| Q1 25 | 81.3% | 25.0% | ||
| Q4 24 | 81.2% | 23.8% | ||
| Q3 24 | 82.5% | 24.0% | ||
| Q2 24 | 83.1% | 25.3% | ||
| Q1 24 | 83.2% | 24.3% |
营业利润率DBXIESC
| Q4 25 | 25.5% | 11.2% | ||
| Q3 25 | 27.5% | 11.6% | ||
| Q2 25 | 26.9% | 12.6% | ||
| Q1 25 | 29.4% | 11.1% | ||
| Q4 24 | 13.7% | 10.0% | ||
| Q3 24 | 20.0% | 9.7% | ||
| Q2 24 | 20.0% | 11.7% | ||
| Q1 24 | 22.7% | 11.0% |
净利率DBXIESC
| Q4 25 | 17.1% | 10.5% | ||
| Q3 25 | 19.5% | 11.4% | ||
| Q2 25 | 20.1% | 8.9% | ||
| Q1 25 | 24.1% | 8.7% | ||
| Q4 24 | 16.0% | 7.7% | ||
| Q3 24 | 16.7% | 8.4% | ||
| Q2 24 | 17.4% | 8.7% | ||
| Q1 24 | 21.0% | 8.0% |
每股收益（稀释后）DBXIESC
| Q4 25 | $0.43 | $4.51 | ||
| Q3 25 | $0.47 | $4.99 | ||
| Q2 25 | $0.45 | $3.81 | ||
| Q1 25 | $0.51 | $3.50 | ||
| Q4 24 | $0.33 | $2.72 | ||
| Q3 24 | $0.34 | $3.06 | ||
| Q2 24 | $0.34 | $2.67 | ||
| Q1 24 | $0.39 | $2.29 |
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 | $258.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-1.8B | $961.1M |
| 总资产 | $2.8B | $1.7B |
| 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DBXIESC
| Q4 25 | $891.3M | $258.7M | ||
| Q3 25 | $730.7M | $231.8M | ||
| Q2 25 | $736.3M | $168.3M | ||
| Q1 25 | $942.2M | $88.3M | ||
| Q4 24 | $1.3B | $112.0M | ||
| Q3 24 | $517.6M | $135.8M | ||
| Q2 24 | $515.1M | $44.9M | ||
| Q1 24 | $548.9M | $106.0M |
股东权益DBXIESC
| Q4 25 | $-1.8B | $961.1M | ||
| Q3 25 | $-1.5B | $884.0M | ||
| Q2 25 | $-1.3B | $781.4M | ||
| Q1 25 | $-1.1B | $705.8M | ||
| Q4 24 | $-752.4M | $652.4M | ||
| Q3 24 | $-546.1M | $611.1M | ||
| Q2 24 | $-371.3M | $567.5M | ||
| Q1 24 | $-277.2M | $534.8M |
总资产DBXIESC
| Q4 25 | $2.8B | $1.7B | ||
| Q3 25 | $2.8B | $1.6B | ||
| Q2 25 | $2.8B | $1.5B | ||
| Q1 25 | $3.0B | $1.4B | ||
| Q4 24 | $3.3B | $1.3B | ||
| Q3 24 | $2.6B | $1.2B | ||
| Q2 24 | $2.7B | $1.2B | ||
| Q1 24 | $2.8B | $1.1B |
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 | $27.7M |
| 自由现金流经营现金流 - 资本支出 | $224.9M | $-18.9M |
| 自由现金流率自由现金流/营收 | 35.4% | -2.2% |
| 资本支出强度资本支出/营收 | 1.7% | 5.3% |
| 现金转化率经营现金流/净利润 | 2.17× | 0.30× |
| 过去12个月自由现金流最近4个季度 | $930.8M | $175.9M |
8季度趋势，按日历期对齐
经营现金流DBXIESC
| Q4 25 | $235.4M | $27.7M | ||
| Q3 25 | $302.1M | $132.0M | ||
| Q2 25 | $260.5M | $92.0M | ||
| Q1 25 | $153.8M | $24.8M | ||
| Q4 24 | $213.8M | $37.3M | ||
| Q3 24 | $274.2M | $92.8M | ||
| Q2 24 | $230.6M | $82.9M | ||
| Q1 24 | $175.5M | $33.7M |
自由现金流DBXIESC
| Q4 25 | $224.9M | $-18.9M | ||
| Q3 25 | $293.7M | $112.0M | ||
| Q2 25 | $258.5M | $74.8M | ||
| Q1 25 | $153.7M | $7.9M | ||
| Q4 24 | $210.5M | $24.1M | ||
| Q3 24 | $270.1M | $78.5M | ||
| Q2 24 | $224.7M | $65.4M | ||
| Q1 24 | $166.3M | $26.9M |
自由现金流率DBXIESC
| Q4 25 | 35.4% | -2.2% | ||
| Q3 25 | 46.3% | 12.5% | ||
| Q2 25 | 41.3% | 8.4% | ||
| Q1 25 | 24.6% | 0.9% | ||
| Q4 24 | 32.7% | 3.2% | ||
| Q3 24 | 42.3% | 10.1% | ||
| Q2 24 | 35.4% | 8.5% | ||
| Q1 24 | 26.3% | 3.8% |
资本支出强度DBXIESC
| Q4 25 | 1.7% | 5.3% | ||
| Q3 25 | 1.3% | 2.2% | ||
| Q2 25 | 0.3% | 1.9% | ||
| Q1 25 | 0.0% | 2.0% | ||
| Q4 24 | 0.5% | 1.8% | ||
| Q3 24 | 0.6% | 1.8% | ||
| Q2 24 | 0.9% | 2.3% | ||
| Q1 24 | 1.5% | 1.0% |
现金转化率DBXIESC
| Q4 25 | 2.17× | 0.30× | ||
| Q3 25 | 2.44× | 1.29× | ||
| Q2 25 | 2.07× | 1.16× | ||
| Q1 25 | 1.02× | 0.34× | ||
| Q4 24 | 2.08× | 0.65× | ||
| Q3 24 | 2.57× | 1.42× | ||
| Q2 24 | 2.09× | 1.24× | ||
| Q1 24 | 1.33× | 0.59× |
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% |
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
