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DROPBOX, INC.（DBX）与RBC Bearings INC（RBC）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RBC Bearings INC的1.4倍（$636.2M vs $461.6M），DROPBOX, INC.净利率更高（17.1% vs 14.6%，领先2.5%），RBC Bearings INC同比增速更快（17.0% vs -1.1%），DROPBOX, INC.自由现金流更多（$224.9M vs $99.1M），过去两年RBC Bearings INC的营收复合增速更高（5.6% 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。
该文本实际介绍的并非RBC Bearings，而是美国多佛公司。多佛是一家工业产品综合制造商，1955年成立，总部位于伊利诺伊州当纳斯格罗夫。2021年其业务分为五大板块：工程产品、清洁能源与加注、成像与识别、泵与工艺解决方案、气候与可持续技术，是标普500成分股，在纽约证券交易所上市。
DBX vs RBC — 直观对比
营收规模更大
DBX
是对方的1.4倍
$461.6M
营收增速更快
RBC
高出18.2%
-1.1%
净利率更高
DBX
高出2.5%
14.6%
自由现金流更多
DBX
多$125.8M
$99.1M
两年增速更快
RBC
近两年复合增速
0.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $636.2M | $461.6M |
| 净利润 | $108.7M | $67.4M |
| 毛利率 | 79.2% | 44.3% |
| 营业利润率 | 25.5% | 22.3% |
| 净利率 | 17.1% | 14.6% |
| 营收同比 | -1.1% | 17.0% |
| 净利润同比 | 5.7% | 16.4% |
| 每股收益（稀释后） | $0.43 | $2.13 |
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DBXRBC
| Q4 25 | $636.2M | $461.6M | ||
| Q3 25 | $634.4M | $455.3M | ||
| Q2 25 | $625.7M | $436.0M | ||
| Q1 25 | $624.7M | $437.7M | ||
| Q4 24 | $643.6M | $394.4M | ||
| Q3 24 | $638.8M | $397.9M | ||
| Q2 24 | $634.5M | $406.3M | ||
| Q1 24 | $631.3M | $413.7M |
净利润DBXRBC
| Q4 25 | $108.7M | $67.4M | ||
| Q3 25 | $123.8M | $60.0M | ||
| Q2 25 | $125.6M | $68.5M | ||
| Q1 25 | $150.3M | $72.7M | ||
| Q4 24 | $102.8M | $57.9M | ||
| Q3 24 | $106.7M | $54.2M | ||
| Q2 24 | $110.5M | $61.4M | ||
| Q1 24 | $132.3M | — |
毛利率DBXRBC
| Q4 25 | 79.2% | 44.3% | ||
| Q3 25 | 79.8% | 44.1% | ||
| Q2 25 | 80.2% | 44.8% | ||
| Q1 25 | 81.3% | 44.2% | ||
| Q4 24 | 81.2% | 44.3% | ||
| Q3 24 | 82.5% | 43.7% | ||
| Q2 24 | 83.1% | 45.3% | ||
| Q1 24 | 83.2% | 43.1% |
营业利润率DBXRBC
| Q4 25 | 25.5% | 22.3% | ||
| Q3 25 | 27.5% | 21.5% | ||
| Q2 25 | 26.9% | 23.2% | ||
| Q1 25 | 29.4% | 23.0% | ||
| Q4 24 | 13.7% | 21.7% | ||
| Q3 24 | 20.0% | 21.6% | ||
| Q2 24 | 20.0% | 24.0% | ||
| Q1 24 | 22.7% | 22.8% |
净利率DBXRBC
| Q4 25 | 17.1% | 14.6% | ||
| Q3 25 | 19.5% | 13.2% | ||
| Q2 25 | 20.1% | 15.7% | ||
| Q1 25 | 24.1% | 16.6% | ||
| Q4 24 | 16.0% | 14.7% | ||
| Q3 24 | 16.7% | 13.6% | ||
| Q2 24 | 17.4% | 15.1% | ||
| Q1 24 | 21.0% | — |
每股收益（稀释后）DBXRBC
| Q4 25 | $0.43 | $2.13 | ||
| Q3 25 | $0.47 | $1.90 | ||
| Q2 25 | $0.45 | $2.17 | ||
| Q1 25 | $0.51 | $2.33 | ||
| Q4 24 | $0.33 | $1.82 | ||
| Q3 24 | $0.34 | $1.65 | ||
| Q2 24 | $0.34 | $1.90 | ||
| Q1 24 | $0.39 | $1.92 |
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 | $107.6M |
| 总债务越低越好 | — | $990.2M |
| 股东权益账面价值 | $-1.8B | $3.3B |
| 总资产 | $2.8B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资DBXRBC
| Q4 25 | $891.3M | $107.6M | ||
| Q3 25 | $730.7M | $91.2M | ||
| Q2 25 | $736.3M | $132.9M | ||
| Q1 25 | $942.2M | $36.8M | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $517.6M | — | ||
| Q2 24 | $515.1M | $76.8M | ||
| Q1 24 | $548.9M | $63.5M |
总债务DBXRBC
| Q4 25 | — | $990.2M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $915.6M | ||
| Q1 25 | — | $920.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.2B |
股东权益DBXRBC
| Q4 25 | $-1.8B | $3.3B | ||
| Q3 25 | $-1.5B | $3.2B | ||
| Q2 25 | $-1.3B | $3.1B | ||
| Q1 25 | $-1.1B | $3.0B | ||
| Q4 24 | $-752.4M | $2.9B | ||
| Q3 24 | $-546.1M | $2.9B | ||
| Q2 24 | $-371.3M | $2.8B | ||
| Q1 24 | $-277.2M | $2.8B |
总资产DBXRBC
| Q4 25 | $2.8B | $5.1B | ||
| Q3 25 | $2.8B | $5.1B | ||
| Q2 25 | $2.8B | $4.8B | ||
| Q1 25 | $3.0B | $4.7B | ||
| Q4 24 | $3.3B | $4.7B | ||
| Q3 24 | $2.6B | $4.7B | ||
| Q2 24 | $2.7B | $4.7B | ||
| Q1 24 | $2.8B | $4.7B |
负债/权益比DBXRBC
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.43× |
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 | $122.1M |
| 自由现金流经营现金流 - 资本支出 | $224.9M | $99.1M |
| 自由现金流率自由现金流/营收 | 35.4% | 21.5% |
| 资本支出强度资本支出/营收 | 1.7% | 5.0% |
| 现金转化率经营现金流/净利润 | 2.17× | 1.81× |
| 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DBXRBC
| Q4 25 | $235.4M | $122.1M | ||
| Q3 25 | $302.1M | $88.4M | ||
| Q2 25 | $260.5M | $120.0M | ||
| Q1 25 | $153.8M | — | ||
| Q4 24 | $213.8M | $84.0M | ||
| Q3 24 | $274.2M | — | ||
| Q2 24 | $230.6M | $97.4M | ||
| Q1 24 | $175.5M | — |
自由现金流DBXRBC
| Q4 25 | $224.9M | $99.1M | ||
| Q3 25 | $293.7M | $71.7M | ||
| Q2 25 | $258.5M | $104.3M | ||
| Q1 25 | $153.7M | — | ||
| Q4 24 | $210.5M | $73.6M | ||
| Q3 24 | $270.1M | — | ||
| Q2 24 | $224.7M | $88.4M | ||
| Q1 24 | $166.3M | — |
自由现金流率DBXRBC
| Q4 25 | 35.4% | 21.5% | ||
| Q3 25 | 46.3% | 15.7% | ||
| Q2 25 | 41.3% | 23.9% | ||
| Q1 25 | 24.6% | — | ||
| Q4 24 | 32.7% | 18.7% | ||
| Q3 24 | 42.3% | — | ||
| Q2 24 | 35.4% | 21.8% | ||
| Q1 24 | 26.3% | — |
资本支出强度DBXRBC
| Q4 25 | 1.7% | 5.0% | ||
| Q3 25 | 1.3% | 3.7% | ||
| Q2 25 | 0.3% | 3.6% | ||
| Q1 25 | 0.0% | 3.2% | ||
| Q4 24 | 0.5% | 2.6% | ||
| Q3 24 | 0.6% | 4.1% | ||
| Q2 24 | 0.9% | 2.2% | ||
| Q1 24 | 1.5% | — |
现金转化率DBXRBC
| Q4 25 | 2.17× | 1.81× | ||
| Q3 25 | 2.44× | 1.47× | ||
| Q2 25 | 2.07× | 1.75× | ||
| Q1 25 | 1.02× | — | ||
| Q4 24 | 2.08× | 1.45× | ||
| Q3 24 | 2.57× | — | ||
| Q2 24 | 2.09× | 1.59× | ||
| 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% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
