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DROPBOX, INC.（DBX）与西联汇款（WU）财务数据对比。点击上方公司名可切换其他公司
西联汇款的季度营收约是DROPBOX, INC.的1.5倍（$982.7M vs $636.2M），DROPBOX, INC.净利率更高（17.1% vs 6.6%，领先10.5%），西联汇款同比增速更快（0.0% vs -1.1%），过去两年DROPBOX, INC.的营收复合增速更高（0.4% vs -1.9%）
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。
西联汇款是总部位于美国科罗拉多州丹佛市的跨国金融服务企业，在全球范围内为个人及机构用户提供便捷的跨境汇款、支付等相关金融服务，凭借广泛的服务网点覆盖和成熟的业务体系，在跨境资金流转领域拥有较高的行业知名度。
DBX vs WU — 直观对比
营收规模更大
WU
是对方的1.5倍
$636.2M
营收增速更快
WU
高出1.1%
-1.1%
净利率更高
DBX
高出10.5%
6.6%
两年增速更快
DBX
近两年复合增速
-1.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $636.2M | $982.7M |
| 净利润 | $108.7M | $64.7M |
| 毛利率 | 79.2% | — |
| 营业利润率 | 25.5% | 12.5% |
| 净利率 | 17.1% | 6.6% |
| 营收同比 | -1.1% | 0.0% |
| 净利润同比 | 5.7% | -47.6% |
| 每股收益（稀释后） | $0.43 | $0.41 |
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DBXWU
| Q1 26 | — | $982.7M | ||
| Q4 25 | $636.2M | $972.0M | ||
| Q3 25 | $634.4M | $985.3M | ||
| Q2 25 | $625.7M | $983.6M | ||
| Q1 25 | $624.7M | $938.7M | ||
| Q4 24 | $643.6M | $1.0B | ||
| Q3 24 | $638.8M | $993.4M | ||
| Q2 24 | $634.5M | $1.0B |
净利润DBXWU
| Q1 26 | — | $64.7M | ||
| Q4 25 | $108.7M | $114.4M | ||
| Q3 25 | $123.8M | $139.6M | ||
| Q2 25 | $125.6M | $122.1M | ||
| Q1 25 | $150.3M | $123.5M | ||
| Q4 24 | $102.8M | $385.7M | ||
| Q3 24 | $106.7M | $264.8M | ||
| Q2 24 | $110.5M | $141.0M |
毛利率DBXWU
| Q1 26 | — | — | ||
| Q4 25 | 79.2% | 33.6% | ||
| Q3 25 | 79.8% | 34.7% | ||
| Q2 25 | 80.2% | 34.6% | ||
| Q1 25 | 81.3% | 34.0% | ||
| Q4 24 | 81.2% | 35.0% | ||
| Q3 24 | 82.5% | 34.2% | ||
| Q2 24 | 83.1% | 35.0% |
营业利润率DBXWU
| Q1 26 | — | 12.5% | ||
| Q4 25 | 25.5% | 19.1% | ||
| Q3 25 | 27.5% | 20.5% | ||
| Q2 25 | 26.9% | 19.6% | ||
| Q1 25 | 29.4% | 18.9% | ||
| Q4 24 | 13.7% | 17.5% | ||
| Q3 24 | 20.0% | 16.6% | ||
| Q2 24 | 20.0% | 18.7% |
净利率DBXWU
| Q1 26 | — | 6.6% | ||
| Q4 25 | 17.1% | 11.8% | ||
| Q3 25 | 19.5% | 14.2% | ||
| Q2 25 | 20.1% | 12.4% | ||
| Q1 25 | 24.1% | 13.2% | ||
| Q4 24 | 16.0% | 37.9% | ||
| Q3 24 | 16.7% | 26.7% | ||
| Q2 24 | 17.4% | 13.8% |
每股收益（稀释后）DBXWU
| Q1 26 | — | $0.41 | ||
| Q4 25 | $0.43 | $0.36 | ||
| Q3 25 | $0.47 | $0.43 | ||
| Q2 25 | $0.45 | $0.37 | ||
| Q1 25 | $0.51 | $0.36 | ||
| Q4 24 | $0.33 | $1.14 | ||
| Q3 24 | $0.34 | $0.78 | ||
| Q2 24 | $0.34 | $0.41 |
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 | $909.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-1.8B | $910.5M |
| 总资产 | $2.8B | $8.1B |
| 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DBXWU
| Q1 26 | — | $909.2M | ||
| Q4 25 | $891.3M | $1.2B | ||
| Q3 25 | $730.7M | $947.8M | ||
| Q2 25 | $736.3M | $1.0B | ||
| Q1 25 | $942.2M | $1.3B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $517.6M | $1.1B | ||
| Q2 24 | $515.1M | $1.0B |
总债务DBXWU
| Q1 26 | — | — | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.1B |
股东权益DBXWU
| Q1 26 | — | $910.5M | ||
| Q4 25 | $-1.8B | $957.8M | ||
| Q3 25 | $-1.5B | $925.4M | ||
| Q2 25 | $-1.3B | $883.6M | ||
| Q1 25 | $-1.1B | $939.4M | ||
| Q4 24 | $-752.4M | $968.9M | ||
| Q3 24 | $-546.1M | $652.7M | ||
| Q2 24 | $-371.3M | $440.8M |
总资产DBXWU
| Q1 26 | — | $8.1B | ||
| Q4 25 | $2.8B | $8.3B | ||
| Q3 25 | $2.8B | $7.8B | ||
| Q2 25 | $2.8B | $8.0B | ||
| Q1 25 | $3.0B | $8.3B | ||
| Q4 24 | $3.3B | $8.4B | ||
| Q3 24 | $2.6B | $7.7B | ||
| Q2 24 | $2.7B | $8.0B |
负债/权益比DBXWU
| Q1 26 | — | — | ||
| Q4 25 | — | 3.01× | ||
| Q3 25 | — | 2.70× | ||
| Q2 25 | — | 2.83× | ||
| Q1 25 | — | 2.61× | ||
| Q4 24 | — | 3.04× | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | — | 4.88× |
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 | $109.0M |
| 自由现金流经营现金流 - 资本支出 | $224.9M | — |
| 自由现金流率自由现金流/营收 | 35.4% | — |
| 资本支出强度资本支出/营收 | 1.7% | 4.8% |
| 现金转化率经营现金流/净利润 | 2.17× | 1.68× |
| 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DBXWU
| Q1 26 | — | $109.0M | ||
| Q4 25 | $235.4M | $135.4M | ||
| Q3 25 | $302.1M | $260.4M | ||
| Q2 25 | $260.5M | $-300.0K | ||
| Q1 25 | $153.8M | $148.2M | ||
| Q4 24 | $213.8M | $134.0M | ||
| Q3 24 | $274.2M | $212.1M | ||
| Q2 24 | $230.6M | $-33.8M |
自由现金流DBXWU
| Q1 26 | — | — | ||
| Q4 25 | $224.9M | $115.5M | ||
| Q3 25 | $293.7M | $252.7M | ||
| Q2 25 | $258.5M | $-7.8M | ||
| Q1 25 | $153.7M | $144.8M | ||
| Q4 24 | $210.5M | $119.7M | ||
| Q3 24 | $270.1M | $205.1M | ||
| Q2 24 | $224.7M | $-38.9M |
自由现金流率DBXWU
| Q1 26 | — | — | ||
| Q4 25 | 35.4% | 11.9% | ||
| Q3 25 | 46.3% | 25.6% | ||
| Q2 25 | 41.3% | -0.8% | ||
| Q1 25 | 24.6% | 15.4% | ||
| Q4 24 | 32.7% | 11.8% | ||
| Q3 24 | 42.3% | 20.6% | ||
| Q2 24 | 35.4% | -3.8% |
资本支出强度DBXWU
| Q1 26 | — | 4.8% | ||
| Q4 25 | 1.7% | 2.0% | ||
| Q3 25 | 1.3% | 0.8% | ||
| Q2 25 | 0.3% | 0.8% | ||
| Q1 25 | 0.0% | 0.4% | ||
| Q4 24 | 0.5% | 1.4% | ||
| Q3 24 | 0.6% | 0.7% | ||
| Q2 24 | 0.9% | 0.5% |
现金转化率DBXWU
| Q1 26 | — | 1.68× | ||
| Q4 25 | 2.17× | 1.18× | ||
| Q3 25 | 2.44× | 1.87× | ||
| Q2 25 | 2.07× | -0.00× | ||
| Q1 25 | 1.02× | 1.20× | ||
| Q4 24 | 2.08× | 0.35× | ||
| Q3 24 | 2.57× | 0.80× | ||
| Q2 24 | 2.09× | -0.24× |
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% |
WU
暂无分部数据
