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DROPBOX, INC.（DBX）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
越洋钻探的季度营收约是DROPBOX, INC.的1.6倍（$1.0B vs $636.2M），DROPBOX, INC.净利率更高（17.1% vs 2.4%，领先14.7%），越洋钻探同比增速更快（9.6% vs -1.1%），越洋钻探自由现金流更多（$321.0M vs $224.9M），过去两年越洋钻探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。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
DBX vs RIG — 直观对比
营收规模更大
RIG
是对方的1.6倍
$636.2M
营收增速更快
RIG
高出10.7%
-1.1%
净利率更高
DBX
高出14.7%
2.4%
自由现金流更多
RIG
多$96.1M
$224.9M
两年增速更快
RIG
近两年复合增速
0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $636.2M | $1.0B |
| 净利润 | $108.7M | $25.0M |
| 毛利率 | 79.2% | 42.0% |
| 营业利润率 | 25.5% | 23.0% |
| 净利率 | 17.1% | 2.4% |
| 营收同比 | -1.1% | 9.6% |
| 净利润同比 | 5.7% | 257.1% |
| 每股收益（稀释后） | $0.43 | $0.13 |
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DBXRIG
| Q4 25 | $636.2M | $1.0B | ||
| Q3 25 | $634.4M | $1.0B | ||
| Q2 25 | $625.7M | $988.0M | ||
| Q1 25 | $624.7M | $906.0M | ||
| Q4 24 | $643.6M | $952.0M | ||
| Q3 24 | $638.8M | $948.0M | ||
| Q2 24 | $634.5M | $861.0M | ||
| Q1 24 | $631.3M | $763.0M |
净利润DBXRIG
| Q4 25 | $108.7M | $25.0M | ||
| Q3 25 | $123.8M | $-1.9B | ||
| Q2 25 | $125.6M | $-938.0M | ||
| Q1 25 | $150.3M | $-79.0M | ||
| Q4 24 | $102.8M | $7.0M | ||
| Q3 24 | $106.7M | $-494.0M | ||
| Q2 24 | $110.5M | $-123.0M | ||
| Q1 24 | $132.3M | $98.0M |
毛利率DBXRIG
| Q4 25 | 79.2% | 42.0% | ||
| Q3 25 | 79.8% | 43.2% | ||
| Q2 25 | 80.2% | 39.4% | ||
| Q1 25 | 81.3% | 31.8% | ||
| Q4 24 | 81.2% | 39.2% | ||
| Q3 24 | 82.5% | 40.6% | ||
| Q2 24 | 83.1% | 38.0% | ||
| Q1 24 | 83.2% | 31.5% |
营业利润率DBXRIG
| Q4 25 | 25.5% | 23.0% | ||
| Q3 25 | 27.5% | -163.1% | ||
| Q2 25 | 26.9% | -97.6% | ||
| Q1 25 | 29.4% | 7.1% | ||
| Q4 24 | 13.7% | 13.7% | ||
| Q3 24 | 20.0% | -51.2% | ||
| Q2 24 | 20.0% | -6.9% | ||
| Q1 24 | 22.7% | -0.4% |
净利率DBXRIG
| Q4 25 | 17.1% | 2.4% | ||
| Q3 25 | 19.5% | -187.1% | ||
| Q2 25 | 20.1% | -94.9% | ||
| Q1 25 | 24.1% | -8.7% | ||
| Q4 24 | 16.0% | 0.7% | ||
| Q3 24 | 16.7% | -52.1% | ||
| Q2 24 | 17.4% | -14.3% | ||
| Q1 24 | 21.0% | 12.8% |
每股收益（稀释后）DBXRIG
| Q4 25 | $0.43 | $0.13 | ||
| Q3 25 | $0.47 | $-2.00 | ||
| Q2 25 | $0.45 | $-1.06 | ||
| Q1 25 | $0.51 | $-0.11 | ||
| Q4 24 | $0.33 | $-0.14 | ||
| Q3 24 | $0.34 | $-0.58 | ||
| Q2 24 | $0.34 | $-0.15 | ||
| Q1 24 | $0.39 | $0.11 |
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 | $620.0M |
| 总债务越低越好 | — | $5.2B |
| 股东权益账面价值 | $-1.8B | $8.1B |
| 总资产 | $2.8B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资DBXRIG
| Q4 25 | $891.3M | $620.0M | ||
| Q3 25 | $730.7M | $833.0M | ||
| Q2 25 | $736.3M | $377.0M | ||
| Q1 25 | $942.2M | $263.0M | ||
| Q4 24 | $1.3B | $560.0M | ||
| Q3 24 | $517.6M | $435.0M | ||
| Q2 24 | $515.1M | $475.0M | ||
| Q1 24 | $548.9M | $446.0M |
总债务DBXRIG
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $5.9B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | — | $6.2B | ||
| Q3 24 | — | $6.5B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.8B |
股东权益DBXRIG
| Q4 25 | $-1.8B | $8.1B | ||
| Q3 25 | $-1.5B | $8.1B | ||
| Q2 25 | $-1.3B | $9.4B | ||
| Q1 25 | $-1.1B | $10.2B | ||
| Q4 24 | $-752.4M | $10.3B | ||
| Q3 24 | $-546.1M | $10.2B | ||
| Q2 24 | $-371.3M | $10.7B | ||
| Q1 24 | $-277.2M | $10.5B |
总资产DBXRIG
| Q4 25 | $2.8B | $15.6B | ||
| Q3 25 | $2.8B | $16.2B | ||
| Q2 25 | $2.8B | $17.8B | ||
| Q1 25 | $3.0B | $19.0B | ||
| Q4 24 | $3.3B | $19.4B | ||
| Q3 24 | $2.6B | $19.5B | ||
| Q2 24 | $2.7B | $20.3B | ||
| Q1 24 | $2.8B | $19.9B |
负债/权益比DBXRIG
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | 0.65× |
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 | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $224.9M | $321.0M |
| 自由现金流率自由现金流/营收 | 35.4% | 30.8% |
| 资本支出强度资本支出/营收 | 1.7% | 2.7% |
| 现金转化率经营现金流/净利润 | 2.17× | 13.96× |
| 过去12个月自由现金流最近4个季度 | $930.8M | $626.0M |
8季度趋势，按日历期对齐
经营现金流DBXRIG
| Q4 25 | $235.4M | $349.0M | ||
| Q3 25 | $302.1M | $246.0M | ||
| Q2 25 | $260.5M | $128.0M | ||
| Q1 25 | $153.8M | $26.0M | ||
| Q4 24 | $213.8M | $206.0M | ||
| Q3 24 | $274.2M | $194.0M | ||
| Q2 24 | $230.6M | $133.0M | ||
| Q1 24 | $175.5M | $-86.0M |
自由现金流DBXRIG
| Q4 25 | $224.9M | $321.0M | ||
| Q3 25 | $293.7M | $235.0M | ||
| Q2 25 | $258.5M | $104.0M | ||
| Q1 25 | $153.7M | $-34.0M | ||
| Q4 24 | $210.5M | $177.0M | ||
| Q3 24 | $270.1M | $136.0M | ||
| Q2 24 | $224.7M | $49.0M | ||
| Q1 24 | $166.3M | $-169.0M |
自由现金流率DBXRIG
| Q4 25 | 35.4% | 30.8% | ||
| Q3 25 | 46.3% | 22.9% | ||
| Q2 25 | 41.3% | 10.5% | ||
| Q1 25 | 24.6% | -3.8% | ||
| Q4 24 | 32.7% | 18.6% | ||
| Q3 24 | 42.3% | 14.3% | ||
| Q2 24 | 35.4% | 5.7% | ||
| Q1 24 | 26.3% | -22.1% |
资本支出强度DBXRIG
| Q4 25 | 1.7% | 2.7% | ||
| Q3 25 | 1.3% | 1.1% | ||
| Q2 25 | 0.3% | 2.4% | ||
| Q1 25 | 0.0% | 6.6% | ||
| Q4 24 | 0.5% | 3.0% | ||
| Q3 24 | 0.6% | 6.1% | ||
| Q2 24 | 0.9% | 9.8% | ||
| Q1 24 | 1.5% | 10.9% |
现金转化率DBXRIG
| Q4 25 | 2.17× | 13.96× | ||
| Q3 25 | 2.44× | — | ||
| Q2 25 | 2.07× | — | ||
| Q1 25 | 1.02× | — | ||
| Q4 24 | 2.08× | 29.43× | ||
| Q3 24 | 2.57× | — | ||
| Q2 24 | 2.09× | — | ||
| Q1 24 | 1.33× | -0.88× |
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% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
