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DROPBOX, INC.（DBX）与Mativ Holdings, Inc.（MATV）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Mativ Holdings, Inc.的1.4倍（$636.2M vs $463.1M），Mativ Holdings, Inc.净利率更高（21.8% vs 17.1%，领先4.7%），Mativ Holdings, Inc.同比增速更快（1.0% vs -1.1%），DROPBOX, INC.自由现金流更多（$224.9M vs $8.0M），过去两年DROPBOX, INC.的营收复合增速更高（0.4% vs -3.8%）
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。
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
DBX vs MATV — 直观对比
营收规模更大
DBX
是对方的1.4倍
$463.1M
营收增速更快
MATV
高出2.1%
-1.1%
净利率更高
MATV
高出4.7%
17.1%
自由现金流更多
DBX
多$216.9M
$8.0M
两年增速更快
DBX
近两年复合增速
-3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $636.2M | $463.1M |
| 净利润 | $108.7M | $100.8M |
| 毛利率 | 79.2% | 18.8% |
| 营业利润率 | 25.5% | 2.2% |
| 净利率 | 17.1% | 21.8% |
| 营收同比 | -1.1% | 1.0% |
| 净利润同比 | 5.7% | 6620.0% |
| 每股收益（稀释后） | $0.43 | $1.87 |
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DBXMATV
| Q4 25 | $636.2M | $463.1M | ||
| Q3 25 | $634.4M | $513.7M | ||
| Q2 25 | $625.7M | $525.4M | ||
| Q1 25 | $624.7M | $484.8M | ||
| Q4 24 | $643.6M | $458.6M | ||
| Q3 24 | $638.8M | $498.5M | ||
| Q2 24 | $634.5M | $523.8M | ||
| Q1 24 | $631.3M | $500.2M |
净利润DBXMATV
| Q4 25 | $108.7M | $100.8M | ||
| Q3 25 | $123.8M | $-3.2M | ||
| Q2 25 | $125.6M | $-9.5M | ||
| Q1 25 | $150.3M | $-425.5M | ||
| Q4 24 | $102.8M | $1.5M | ||
| Q3 24 | $106.7M | $-20.8M | ||
| Q2 24 | $110.5M | $-1.4M | ||
| Q1 24 | $132.3M | $-28.0M |
毛利率DBXMATV
| Q4 25 | 79.2% | 18.8% | ||
| Q3 25 | 79.8% | 19.3% | ||
| Q2 25 | 80.2% | 19.7% | ||
| Q1 25 | 81.3% | 15.0% | ||
| Q4 24 | 81.2% | 16.9% | ||
| Q3 24 | 82.5% | 18.8% | ||
| Q2 24 | 83.1% | 20.8% | ||
| Q1 24 | 83.2% | 16.8% |
营业利润率DBXMATV
| Q4 25 | 25.5% | 2.2% | ||
| Q3 25 | 27.5% | 3.1% | ||
| Q2 25 | 26.9% | 3.8% | ||
| Q1 25 | 29.4% | -88.8% | ||
| Q4 24 | 13.7% | 0.6% | ||
| Q3 24 | 20.0% | 1.4% | ||
| Q2 24 | 20.0% | 2.0% | ||
| Q1 24 | 22.7% | -2.8% |
净利率DBXMATV
| Q4 25 | 17.1% | 21.8% | ||
| Q3 25 | 19.5% | -0.6% | ||
| Q2 25 | 20.1% | -1.8% | ||
| Q1 25 | 24.1% | -87.8% | ||
| Q4 24 | 16.0% | 0.3% | ||
| Q3 24 | 16.7% | -4.2% | ||
| Q2 24 | 17.4% | -0.3% | ||
| Q1 24 | 21.0% | -5.6% |
每股收益（稀释后）DBXMATV
| Q4 25 | $0.43 | $1.87 | ||
| Q3 25 | $0.47 | $-0.06 | ||
| Q2 25 | $0.45 | $-0.18 | ||
| Q1 25 | $0.51 | $-7.82 | ||
| Q4 24 | $0.33 | $0.03 | ||
| Q3 24 | $0.34 | $-0.38 | ||
| Q2 24 | $0.34 | $-0.03 | ||
| Q1 24 | $0.39 | $-0.52 |
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 | $84.2M |
| 总债务越低越好 | — | $1.0B |
| 股东权益账面价值 | $-1.8B | $498.7M |
| 总资产 | $2.8B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资DBXMATV
| Q4 25 | $891.3M | $84.2M | ||
| Q3 25 | $730.7M | $97.1M | ||
| Q2 25 | $736.3M | $95.6M | ||
| Q1 25 | $942.2M | $84.0M | ||
| Q4 24 | $1.3B | $94.3M | ||
| Q3 24 | $517.6M | $162.2M | ||
| Q2 24 | $515.1M | $133.4M | ||
| Q1 24 | $548.9M | $128.9M |
总债务DBXMATV
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益DBXMATV
| Q4 25 | $-1.8B | $498.7M | ||
| Q3 25 | $-1.5B | $397.4M | ||
| Q2 25 | $-1.3B | $416.6M | ||
| Q1 25 | $-1.1B | $428.2M | ||
| Q4 24 | $-752.4M | $858.5M | ||
| Q3 24 | $-546.1M | $882.3M | ||
| Q2 24 | $-371.3M | $898.0M | ||
| Q1 24 | $-277.2M | $906.9M |
总资产DBXMATV
| Q4 25 | $2.8B | $2.1B | ||
| Q3 25 | $2.8B | $2.0B | ||
| Q2 25 | $2.8B | $2.1B | ||
| Q1 25 | $3.0B | $2.1B | ||
| Q4 24 | $3.3B | $2.4B | ||
| Q3 24 | $2.6B | $2.6B | ||
| Q2 24 | $2.7B | $2.6B | ||
| Q1 24 | $2.8B | $2.7B |
负债/权益比DBXMATV
| Q4 25 | — | 2.07× | ||
| Q3 25 | — | 2.63× | ||
| Q2 25 | — | 2.66× | ||
| Q1 25 | — | 2.67× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 1.32× | ||
| Q2 24 | — | 1.29× | ||
| Q1 24 | — | 1.30× |
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 | $19.3M |
| 自由现金流经营现金流 - 资本支出 | $224.9M | $8.0M |
| 自由现金流率自由现金流/营收 | 35.4% | 1.7% |
| 资本支出强度资本支出/营收 | 1.7% | 2.4% |
| 现金转化率经营现金流/净利润 | 2.17× | 0.19× |
| 过去12个月自由现金流最近4个季度 | $930.8M | $93.8M |
8季度趋势，按日历期对齐
经营现金流DBXMATV
| Q4 25 | $235.4M | $19.3M | ||
| Q3 25 | $302.1M | $72.8M | ||
| Q2 25 | $260.5M | $57.6M | ||
| Q1 25 | $153.8M | $-15.9M | ||
| Q4 24 | $213.8M | $24.1M | ||
| Q3 24 | $274.2M | $37.6M | ||
| Q2 24 | $230.6M | $46.1M | ||
| Q1 24 | $175.5M | $-13.0M |
自由现金流DBXMATV
| Q4 25 | $224.9M | $8.0M | ||
| Q3 25 | $293.7M | $66.7M | ||
| Q2 25 | $258.5M | $48.9M | ||
| Q1 25 | $153.7M | $-29.8M | ||
| Q4 24 | $210.5M | $2.0M | ||
| Q3 24 | $270.1M | $25.5M | ||
| Q2 24 | $224.7M | $37.4M | ||
| Q1 24 | $166.3M | $-25.1M |
自由现金流率DBXMATV
| Q4 25 | 35.4% | 1.7% | ||
| Q3 25 | 46.3% | 13.0% | ||
| Q2 25 | 41.3% | 9.3% | ||
| Q1 25 | 24.6% | -6.1% | ||
| Q4 24 | 32.7% | 0.4% | ||
| Q3 24 | 42.3% | 5.1% | ||
| Q2 24 | 35.4% | 7.1% | ||
| Q1 24 | 26.3% | -5.0% |
资本支出强度DBXMATV
| Q4 25 | 1.7% | 2.4% | ||
| Q3 25 | 1.3% | 1.2% | ||
| Q2 25 | 0.3% | 1.7% | ||
| Q1 25 | 0.0% | 2.9% | ||
| Q4 24 | 0.5% | 4.8% | ||
| Q3 24 | 0.6% | 2.4% | ||
| Q2 24 | 0.9% | 1.7% | ||
| Q1 24 | 1.5% | 2.4% |
现金转化率DBXMATV
| Q4 25 | 2.17× | 0.19× | ||
| Q3 25 | 2.44× | — | ||
| Q2 25 | 2.07× | — | ||
| Q1 25 | 1.02× | — | ||
| Q4 24 | 2.08× | 16.07× | ||
| 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% |
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
