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DROPBOX, INC.（DBX）与LifeStance Health Group, Inc.（LFST）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LifeStance Health Group, Inc.的1.7倍（$636.2M vs $382.2M），DROPBOX, INC.净利率更高（17.1% vs 3.1%，领先14.0%），LifeStance Health Group, Inc.同比增速更快（17.4% vs -1.1%），DROPBOX, INC.自由现金流更多（$224.9M vs $46.6M），过去两年LifeStance Health Group, Inc.的营收复合增速更高（12.8% 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。
LifeStance Health Group是美国的门诊行为健康服务提供商，支持线下面诊与远程诊疗两种服务模式，业务涵盖心理咨询、精神科诊疗、经颅磁刺激（TMS）以及氯胺酮治疗等。该公司曾多次因劳动违规、客户信息泄露及误导投资者相关问题遭遇诉讼。
DBX vs LFST — 直观对比
营收规模更大
DBX
是对方的1.7倍
$382.2M
营收增速更快
LFST
高出18.6%
-1.1%
净利率更高
DBX
高出14.0%
3.1%
自由现金流更多
DBX
多$178.3M
$46.6M
两年增速更快
LFST
近两年复合增速
0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $636.2M | $382.2M |
| 净利润 | $108.7M | $11.7M |
| 毛利率 | 79.2% | — |
| 营业利润率 | 25.5% | 4.7% |
| 净利率 | 17.1% | 3.1% |
| 营收同比 | -1.1% | 17.4% |
| 净利润同比 | 5.7% | 264.1% |
| 每股收益（稀释后） | $0.43 | — |
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DBXLFST
| Q4 25 | $636.2M | $382.2M | ||
| Q3 25 | $634.4M | $363.8M | ||
| Q2 25 | $625.7M | $345.3M | ||
| Q1 25 | $624.7M | $333.0M | ||
| Q4 24 | $643.6M | $325.5M | ||
| Q3 24 | $638.8M | $312.7M | ||
| Q2 24 | $634.5M | $312.3M | ||
| Q1 24 | $631.3M | $300.4M |
净利润DBXLFST
| Q4 25 | $108.7M | $11.7M | ||
| Q3 25 | $123.8M | $1.1M | ||
| Q2 25 | $125.6M | $-3.8M | ||
| Q1 25 | $150.3M | $709.0K | ||
| Q4 24 | $102.8M | $-7.1M | ||
| Q3 24 | $106.7M | $-6.0M | ||
| Q2 24 | $110.5M | $-23.3M | ||
| Q1 24 | $132.3M | $-21.1M |
毛利率DBXLFST
| 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DBXLFST
| Q4 25 | 25.5% | 4.7% | ||
| Q3 25 | 27.5% | 2.0% | ||
| Q2 25 | 26.9% | -0.9% | ||
| Q1 25 | 29.4% | 0.5% | ||
| Q4 24 | 13.7% | 0.3% | ||
| Q3 24 | 20.0% | 0.0% | ||
| Q2 24 | 20.0% | -5.1% | ||
| Q1 24 | 22.7% | -5.6% |
净利率DBXLFST
| Q4 25 | 17.1% | 3.1% | ||
| Q3 25 | 19.5% | 0.3% | ||
| Q2 25 | 20.1% | -1.1% | ||
| Q1 25 | 24.1% | 0.2% | ||
| Q4 24 | 16.0% | -2.2% | ||
| Q3 24 | 16.7% | -1.9% | ||
| Q2 24 | 17.4% | -7.5% | ||
| Q1 24 | 21.0% | -7.0% |
每股收益（稀释后）DBXLFST
| Q4 25 | $0.43 | — | ||
| Q3 25 | $0.47 | — | ||
| Q2 25 | $0.45 | — | ||
| Q1 25 | $0.51 | — | ||
| Q4 24 | $0.33 | — | ||
| Q3 24 | $0.34 | — | ||
| Q2 24 | $0.34 | — | ||
| Q1 24 | $0.39 | — |
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 | $248.6M |
| 总债务越低越好 | — | $282.8M |
| 股东权益账面价值 | $-1.8B | $1.5B |
| 总资产 | $2.8B | $2.2B |
| 负债/权益比越低杠杆越低 | — | 0.19× |
8季度趋势，按日历期对齐
现金及短期投资DBXLFST
| Q4 25 | $891.3M | $248.6M | ||
| Q3 25 | $730.7M | $203.9M | ||
| Q2 25 | $736.3M | $188.9M | ||
| Q1 25 | $942.2M | $134.3M | ||
| Q4 24 | $1.3B | $154.6M | ||
| Q3 24 | $517.6M | $102.6M | ||
| Q2 24 | $515.1M | $87.0M | ||
| Q1 24 | $548.9M | $49.5M |
总债务DBXLFST
| Q4 25 | — | $282.8M | ||
| Q3 25 | — | $284.6M | ||
| Q2 25 | — | $286.4M | ||
| Q1 25 | — | $288.2M | ||
| Q4 24 | — | $290.0M | ||
| Q3 24 | — | $287.3M | ||
| Q2 24 | — | $288.0M | ||
| Q1 24 | — | $288.8M |
股东权益DBXLFST
| Q4 25 | $-1.8B | $1.5B | ||
| Q3 25 | $-1.5B | $1.5B | ||
| Q2 25 | $-1.3B | $1.5B | ||
| Q1 25 | $-1.1B | $1.5B | ||
| Q4 24 | $-752.4M | $1.4B | ||
| Q3 24 | $-546.1M | $1.4B | ||
| Q2 24 | $-371.3M | $1.4B | ||
| Q1 24 | $-277.2M | $1.4B |
总资产DBXLFST
| Q4 25 | $2.8B | $2.2B | ||
| Q3 25 | $2.8B | $2.1B | ||
| Q2 25 | $2.8B | $2.1B | ||
| Q1 25 | $3.0B | $2.1B | ||
| Q4 24 | $3.3B | $2.1B | ||
| Q3 24 | $2.6B | $2.1B | ||
| Q2 24 | $2.7B | $2.1B | ||
| Q1 24 | $2.8B | $2.1B |
负债/权益比DBXLFST
| Q4 25 | — | 0.19× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.19× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | — | 0.20× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | — | 0.20× | ||
| Q1 24 | — | 0.20× |
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 | $57.6M |
| 自由现金流经营现金流 - 资本支出 | $224.9M | $46.6M |
| 自由现金流率自由现金流/营收 | 35.4% | 12.2% |
| 资本支出强度资本支出/营收 | 1.7% | 2.9% |
| 现金转化率经营现金流/净利润 | 2.17× | 4.93× |
| 过去12个月自由现金流最近4个季度 | $930.8M | $110.0M |
8季度趋势，按日历期对齐
经营现金流DBXLFST
| Q4 25 | $235.4M | $57.6M | ||
| Q3 25 | $302.1M | $27.3M | ||
| Q2 25 | $260.5M | $64.4M | ||
| Q1 25 | $153.8M | $-3.1M | ||
| Q4 24 | $213.8M | $62.3M | ||
| Q3 24 | $274.2M | $22.7M | ||
| Q2 24 | $230.6M | $44.1M | ||
| Q1 24 | $175.5M | $-21.8M |
自由现金流DBXLFST
| Q4 25 | $224.9M | $46.6M | ||
| Q3 25 | $293.7M | $17.0M | ||
| Q2 25 | $258.5M | $56.6M | ||
| Q1 25 | $153.7M | $-10.3M | ||
| Q4 24 | $210.5M | $56.0M | ||
| Q3 24 | $270.1M | $17.7M | ||
| Q2 24 | $224.7M | $39.0M | ||
| Q1 24 | $166.3M | $-26.9M |
自由现金流率DBXLFST
| Q4 25 | 35.4% | 12.2% | ||
| Q3 25 | 46.3% | 4.7% | ||
| Q2 25 | 41.3% | 16.4% | ||
| Q1 25 | 24.6% | -3.1% | ||
| Q4 24 | 32.7% | 17.2% | ||
| Q3 24 | 42.3% | 5.7% | ||
| Q2 24 | 35.4% | 12.5% | ||
| Q1 24 | 26.3% | -9.0% |
资本支出强度DBXLFST
| Q4 25 | 1.7% | 2.9% | ||
| Q3 25 | 1.3% | 2.8% | ||
| Q2 25 | 0.3% | 2.2% | ||
| Q1 25 | 0.0% | 2.2% | ||
| Q4 24 | 0.5% | 1.9% | ||
| Q3 24 | 0.6% | 1.6% | ||
| Q2 24 | 0.9% | 1.6% | ||
| Q1 24 | 1.5% | 1.7% |
现金转化率DBXLFST
| Q4 25 | 2.17× | 4.93× | ||
| Q3 25 | 2.44× | 25.34× | ||
| Q2 25 | 2.07× | — | ||
| Q1 25 | 1.02× | -4.36× | ||
| Q4 24 | 2.08× | — | ||
| Q3 24 | 2.57× | — | ||
| Q2 24 | 2.09× | — | ||
| Q1 24 | 1.33× | — |
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% |
LFST
暂无分部数据
