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Datadog（DDOG）与Elastic N.V.（ESTC）财务数据对比。点击上方公司名可切换其他公司
Datadog的季度营收约是Elastic N.V.的2.3倍（$953.2M vs $423.5M），Datadog净利率更高（4.9% vs -12.1%，领先17.0%），Datadog同比增速更快（29.2% vs 15.9%），Datadog自由现金流更多（$318.2M vs $26.0M），过去两年Datadog的营收复合增速更高（24.9% vs 13.6%）
Datadog是一家美国企业，为云级应用提供可观测性服务，旗下SaaS数据分析平台可实现对服务器、数据库、各类工具及服务的统一监控。公司成立并总部位于纽约，目前在纳斯达克证券交易所公开上市。
Elastic是荷美合资软件企业，2012年成立于荷兰阿姆斯特丹，运营总部分设于荷兰及美国加利福尼亚州旧金山市，于纽交所上市。公司提供企业级搜索、可观测性、网络安全平台，可支持用户实现大规模数据搜索分析、系统性能监测及异常检测。
DDOG vs ESTC — 直观对比
营收规模更大
DDOG
是对方的2.3倍
$423.5M
营收增速更快
DDOG
高出13.3%
15.9%
净利率更高
DDOG
高出17.0%
-12.1%
自由现金流更多
DDOG
多$292.2M
$26.0M
两年增速更快
DDOG
近两年复合增速
13.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $953.2M | $423.5M |
| 净利润 | $46.6M | $-51.3M |
| 毛利率 | 80.4% | 75.9% |
| 营业利润率 | 1.0% | -1.9% |
| 净利率 | 4.9% | -12.1% |
| 营收同比 | 29.2% | 15.9% |
| 净利润同比 | 2.1% | -101.5% |
| 每股收益（稀释后） | $0.13 | $-0.48 |
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DDOGESTC
| Q4 25 | $953.2M | $423.5M | ||
| Q3 25 | $885.7M | $415.3M | ||
| Q2 25 | $826.8M | $388.4M | ||
| Q1 25 | $761.6M | $382.1M | ||
| Q4 24 | $737.7M | $365.4M | ||
| Q3 24 | $690.0M | $347.4M | ||
| Q2 24 | $645.3M | $335.0M | ||
| Q1 24 | $611.3M | $328.0M |
净利润DDOGESTC
| Q4 25 | $46.6M | $-51.3M | ||
| Q3 25 | $33.9M | $-24.6M | ||
| Q2 25 | $2.6M | $-16.4M | ||
| Q1 25 | $24.6M | $-17.1M | ||
| Q4 24 | $45.6M | $-25.4M | ||
| Q3 24 | $51.7M | $-49.2M | ||
| Q2 24 | $43.8M | $-41.1M | ||
| Q1 24 | $42.6M | $176.1M |
毛利率DDOGESTC
| Q4 25 | 80.4% | 75.9% | ||
| Q3 25 | 80.1% | 76.7% | ||
| Q2 25 | 79.9% | 74.8% | ||
| Q1 25 | 79.3% | 74.6% | ||
| Q4 24 | 80.5% | 74.5% | ||
| Q3 24 | 80.0% | 73.6% | ||
| Q2 24 | 80.9% | 73.8% | ||
| Q1 24 | 82.0% | 74.2% |
营业利润率DDOGESTC
| Q4 25 | 1.0% | -1.9% | ||
| Q3 25 | -0.7% | -2.3% | ||
| Q2 25 | -4.3% | -3.1% | ||
| Q1 25 | -1.6% | -1.2% | ||
| Q4 24 | 1.3% | -1.2% | ||
| Q3 24 | 2.9% | -9.7% | ||
| Q2 24 | 2.0% | -13.6% | ||
| Q1 24 | 2.0% | -8.1% |
净利率DDOGESTC
| Q4 25 | 4.9% | -12.1% | ||
| Q3 25 | 3.8% | -5.9% | ||
| Q2 25 | 0.3% | -4.2% | ||
| Q1 25 | 3.2% | -4.5% | ||
| Q4 24 | 6.2% | -7.0% | ||
| Q3 24 | 7.5% | -14.2% | ||
| Q2 24 | 6.8% | -12.3% | ||
| Q1 24 | 7.0% | 53.7% |
每股收益（稀释后）DDOGESTC
| Q4 25 | $0.13 | $-0.48 | ||
| Q3 25 | $0.10 | $-0.23 | ||
| Q2 25 | $0.01 | $-0.15 | ||
| Q1 25 | $0.07 | $-0.16 | ||
| Q4 24 | $0.14 | $-0.25 | ||
| Q3 24 | $0.14 | $-0.48 | ||
| Q2 24 | $0.12 | $-0.35 | ||
| Q1 24 | $0.12 | $1.69 |
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 | $401.3M | $1.4B |
| 总债务越低越好 | — | $570.3M |
| 股东权益账面价值 | $3.7B | $891.1M |
| 总资产 | $6.6B | $2.5B |
| 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DDOGESTC
| Q4 25 | $401.3M | $1.4B | ||
| Q3 25 | $540.6M | $1.5B | ||
| Q2 25 | $489.0M | $1.4B | ||
| Q1 25 | $1.1B | $584.0M | ||
| Q4 24 | $1.2B | $658.5M | ||
| Q3 24 | $337.4M | $594.9M | ||
| Q2 24 | $411.0M | $1.1B | ||
| Q1 24 | $282.2M | $526.9M |
总债务DDOGESTC
| Q4 25 | — | $570.3M | ||
| Q3 25 | — | $570.0M | ||
| Q2 25 | — | $569.7M | ||
| Q1 25 | — | $569.4M | ||
| Q4 24 | — | $569.2M | ||
| Q3 24 | — | $568.9M | ||
| Q2 24 | — | $568.6M | ||
| Q1 24 | — | $568.3M |
股东权益DDOGESTC
| Q4 25 | $3.7B | $891.1M | ||
| Q3 25 | $3.4B | $971.4M | ||
| Q2 25 | $3.2B | $927.2M | ||
| Q1 25 | $2.9B | $859.1M | ||
| Q4 24 | $2.7B | $811.5M | ||
| Q3 24 | $2.6B | $759.4M | ||
| Q2 24 | $2.4B | $738.2M | ||
| Q1 24 | $2.2B | $707.8M |
总资产DDOGESTC
| Q4 25 | $6.6B | $2.5B | ||
| Q3 25 | $6.1B | $2.5B | ||
| Q2 25 | $5.8B | $2.6B | ||
| Q1 25 | $6.0B | $2.3B | ||
| Q4 24 | $5.8B | $2.2B | ||
| Q3 24 | $4.6B | $2.2B | ||
| Q2 24 | $4.4B | $2.2B | ||
| Q1 24 | $4.1B | $2.1B |
负债/权益比DDOGESTC
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 0.59× | ||
| Q2 25 | — | 0.61× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.70× | ||
| Q3 24 | — | 0.75× | ||
| Q2 24 | — | 0.77× | ||
| Q1 24 | — | 0.80× |
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 | $327.1M | $26.6M |
| 自由现金流经营现金流 - 资本支出 | $318.2M | $26.0M |
| 自由现金流率自由现金流/营收 | 33.4% | 6.1% |
| 资本支出强度资本支出/营收 | 0.9% | 0.1% |
| 现金转化率经营现金流/净利润 | 7.02× | — |
| 过去12个月自由现金流最近4个季度 | $1.0B | $302.3M |
8季度趋势，按日历期对齐
经营现金流DDOGESTC
| Q4 25 | $327.1M | $26.6M | ||
| Q3 25 | $251.5M | $104.8M | ||
| Q2 25 | $200.1M | $87.0M | ||
| Q1 25 | $271.5M | $88.1M | ||
| Q4 24 | $265.2M | $38.4M | ||
| Q3 24 | $228.7M | $52.8M | ||
| Q2 24 | $164.4M | $60.9M | ||
| Q1 24 | $212.3M | $52.4M |
自由现金流DDOGESTC
| Q4 25 | $318.2M | $26.0M | ||
| Q3 25 | $234.7M | $104.2M | ||
| Q2 25 | $184.9M | $84.9M | ||
| Q1 25 | $262.8M | $87.3M | ||
| Q4 24 | $257.5M | $37.7M | ||
| Q3 24 | $220.3M | $52.0M | ||
| Q2 24 | $160.0M | $60.1M | ||
| Q1 24 | $198.1M | $51.3M |
自由现金流率DDOGESTC
| Q4 25 | 33.4% | 6.1% | ||
| Q3 25 | 26.5% | 25.1% | ||
| Q2 25 | 22.4% | 21.8% | ||
| Q1 25 | 34.5% | 22.8% | ||
| Q4 24 | 34.9% | 10.3% | ||
| Q3 24 | 31.9% | 15.0% | ||
| Q2 24 | 24.8% | 17.9% | ||
| Q1 24 | 32.4% | 15.6% |
资本支出强度DDOGESTC
| Q4 25 | 0.9% | 0.1% | ||
| Q3 25 | 1.9% | 0.2% | ||
| Q2 25 | 1.8% | 0.5% | ||
| Q1 25 | 1.1% | 0.2% | ||
| Q4 24 | 1.1% | 0.2% | ||
| Q3 24 | 1.2% | 0.2% | ||
| Q2 24 | 0.7% | 0.3% | ||
| Q1 24 | 2.3% | 0.3% |
现金转化率DDOGESTC
| Q4 25 | 7.02× | — | ||
| Q3 25 | 7.42× | — | ||
| Q2 25 | 75.58× | — | ||
| Q1 25 | 11.02× | — | ||
| Q4 24 | 5.82× | — | ||
| Q3 24 | 4.42× | — | ||
| Q2 24 | 3.75× | — | ||
| Q1 24 | 4.98× | 0.30× |
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
DDOG
| North America | $678.7M | 71% |
| International | $274.5M | 29% |
ESTC
| Self Managed Subscription | $192.0M | 45% |
| Saa S Self Managed Annual | $156.9M | 37% |
| Saa S Self Managed Monthly | $48.8M | 12% |
| Professional Services | $25.8M | 6% |
