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Datadog（DDOG）与ServiceNow（NOW）财务数据对比。点击上方公司名可切换其他公司
ServiceNow的季度营收约是Datadog的4.0倍（$3.8B vs $953.2M），ServiceNow净利率更高（12.4% vs 4.9%，领先7.6%），Datadog同比增速更快（29.2% vs 2.8%），ServiceNow自由现金流更多（$1.7B vs $318.2M），过去两年Datadog的营收复合增速更高（24.9% vs 19.8%）
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。
ServiceNow是2003年由弗雷德·卢迪在美国加利福尼亚州圣克拉拉创立的软件企业，主打云计算平台产品，可支持企业搭建及管理自动化业务工作流。公司于纽交所上市，现为标普100及标普500指数成分股。
DDOG vs NOW — 直观对比
营收规模更大
NOW
是对方的4.0倍
$953.2M
营收增速更快
DDOG
高出26.4%
2.8%
净利率更高
NOW
高出7.6%
4.9%
自由现金流更多
NOW
多$1.3B
$318.2M
两年增速更快
DDOG
近两年复合增速
19.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $953.2M | $3.8B |
| 净利润 | $46.6M | $469.0M |
| 毛利率 | 80.4% | 75.1% |
| 营业利润率 | 1.0% | 13.3% |
| 净利率 | 4.9% | 12.4% |
| 营收同比 | 29.2% | 2.8% |
| 净利润同比 | 2.1% | -53.7% |
| 每股收益（稀释后） | $0.13 | $1.04 |
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DDOGNOW
| Q1 26 | — | $3.8B | ||
| Q4 25 | $953.2M | $3.6B | ||
| Q3 25 | $885.7M | $3.4B | ||
| Q2 25 | $826.8M | $3.2B | ||
| Q1 25 | $761.6M | $3.1B | ||
| Q4 24 | $737.7M | $3.0B | ||
| Q3 24 | $690.0M | $2.8B | ||
| Q2 24 | $645.3M | $2.6B |
净利润DDOGNOW
| Q1 26 | — | $469.0M | ||
| Q4 25 | $46.6M | $401.0M | ||
| Q3 25 | $33.9M | $502.0M | ||
| Q2 25 | $2.6M | $385.0M | ||
| Q1 25 | $24.6M | $460.0M | ||
| Q4 24 | $45.6M | $384.0M | ||
| Q3 24 | $51.7M | $432.0M | ||
| Q2 24 | $43.8M | $262.0M |
毛利率DDOGNOW
| Q1 26 | — | 75.1% | ||
| Q4 25 | 80.4% | 76.6% | ||
| Q3 25 | 80.1% | 77.3% | ||
| Q2 25 | 79.9% | 77.5% | ||
| Q1 25 | 79.3% | 78.9% | ||
| Q4 24 | 80.5% | 78.7% | ||
| Q3 24 | 80.0% | 79.1% | ||
| Q2 24 | 80.9% | 79.0% |
营业利润率DDOGNOW
| Q1 26 | — | 13.3% | ||
| Q4 25 | 1.0% | 12.4% | ||
| Q3 25 | -0.7% | 16.8% | ||
| Q2 25 | -4.3% | 11.1% | ||
| Q1 25 | -1.6% | 14.6% | ||
| Q4 24 | 1.3% | 12.6% | ||
| Q3 24 | 2.9% | 14.9% | ||
| Q2 24 | 2.0% | 9.1% |
净利率DDOGNOW
| Q1 26 | — | 12.4% | ||
| Q4 25 | 4.9% | 11.2% | ||
| Q3 25 | 3.8% | 14.7% | ||
| Q2 25 | 0.3% | 12.0% | ||
| Q1 25 | 3.2% | 14.9% | ||
| Q4 24 | 6.2% | 13.0% | ||
| Q3 24 | 7.5% | 15.4% | ||
| Q2 24 | 6.8% | 10.0% |
每股收益（稀释后）DDOGNOW
| Q1 26 | — | $1.04 | ||
| Q4 25 | $0.13 | $-4.77 | ||
| Q3 25 | $0.10 | $2.40 | ||
| Q2 25 | $0.01 | $1.84 | ||
| Q1 25 | $0.07 | $2.20 | ||
| Q4 24 | $0.14 | $1.84 | ||
| Q3 24 | $0.14 | $2.07 | ||
| Q2 24 | $0.12 | $1.26 |
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 | $2.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $11.7B |
| 总资产 | $6.6B | $24.4B |
| 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DDOGNOW
| Q1 26 | — | $2.7B | ||
| Q4 25 | $401.3M | $3.7B | ||
| Q3 25 | $540.6M | $2.7B | ||
| Q2 25 | $489.0M | $3.1B | ||
| Q1 25 | $1.1B | $3.4B | ||
| Q4 24 | $1.2B | $2.3B | ||
| Q3 24 | $337.4M | $1.9B | ||
| Q2 24 | $411.0M | $2.2B |
股东权益DDOGNOW
| Q1 26 | — | $11.7B | ||
| Q4 25 | $3.7B | $13.0B | ||
| Q3 25 | $3.4B | $11.3B | ||
| Q2 25 | $3.2B | $10.9B | ||
| Q1 25 | $2.9B | $10.1B | ||
| Q4 24 | $2.7B | $9.6B | ||
| Q3 24 | $2.6B | $9.3B | ||
| Q2 24 | $2.4B | $8.7B |
总资产DDOGNOW
| Q1 26 | — | $24.4B | ||
| Q4 25 | $6.6B | $26.0B | ||
| Q3 25 | $6.1B | $21.8B | ||
| Q2 25 | $5.8B | $22.1B | ||
| Q1 25 | $6.0B | $21.0B | ||
| Q4 24 | $5.8B | $20.4B | ||
| Q3 24 | $4.6B | $18.4B | ||
| Q2 24 | $4.4B | $18.2B |
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 | $1.7B |
| 自由现金流经营现金流 - 资本支出 | $318.2M | $1.7B |
| 自由现金流率自由现金流/营收 | 33.4% | 44.2% |
| 资本支出强度资本支出/营收 | 0.9% | — |
| 现金转化率经营现金流/净利润 | 7.02× | 3.56× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $4.8B |
8季度趋势，按日历期对齐
经营现金流DDOGNOW
| Q1 26 | — | $1.7B | ||
| Q4 25 | $327.1M | $2.2B | ||
| Q3 25 | $251.5M | $813.0M | ||
| Q2 25 | $200.1M | $716.0M | ||
| Q1 25 | $271.5M | $1.7B | ||
| Q4 24 | $265.2M | $1.6B | ||
| Q3 24 | $228.7M | $671.0M | ||
| Q2 24 | $164.4M | $620.0M |
自由现金流DDOGNOW
| Q1 26 | — | $1.7B | ||
| Q4 25 | $318.2M | $2.0B | ||
| Q3 25 | $234.7M | $578.0M | ||
| Q2 25 | $184.9M | $526.0M | ||
| Q1 25 | $262.8M | $1.5B | ||
| Q4 24 | $257.5M | $1.4B | ||
| Q3 24 | $220.3M | $469.0M | ||
| Q2 24 | $160.0M | $358.0M |
自由现金流率DDOGNOW
| Q1 26 | — | 44.2% | ||
| Q4 25 | 33.4% | 56.1% | ||
| Q3 25 | 26.5% | 17.0% | ||
| Q2 25 | 22.4% | 16.4% | ||
| Q1 25 | 34.5% | 47.7% | ||
| Q4 24 | 34.9% | 46.7% | ||
| Q3 24 | 31.9% | 16.8% | ||
| Q2 24 | 24.8% | 13.6% |
资本支出强度DDOGNOW
| Q1 26 | — | — | ||
| Q4 25 | 0.9% | 6.7% | ||
| Q3 25 | 1.9% | 6.9% | ||
| Q2 25 | 1.8% | 5.9% | ||
| Q1 25 | 1.1% | 6.6% | ||
| Q4 24 | 1.1% | 8.6% | ||
| Q3 24 | 1.2% | 7.2% | ||
| Q2 24 | 0.7% | 10.0% |
现金转化率DDOGNOW
| Q1 26 | — | 3.56× | ||
| Q4 25 | 7.02× | 5.58× | ||
| Q3 25 | 7.42× | 1.62× | ||
| Q2 25 | 75.58× | 1.86× | ||
| Q1 25 | 11.02× | 3.65× | ||
| Q4 24 | 5.82× | 4.26× | ||
| Q3 24 | 4.42× | 1.55× | ||
| Q2 24 | 3.75× | 2.37× |
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% |
NOW
| Subscription revenues | $3.7B | 97% |
| Other | $80.5M | 2% |
| Professional services and other revenues | $18.5M | 0% |
