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Datadog（DDOG）与Paychex（PAYX）财务数据对比。点击上方公司名可切换其他公司
Paychex的季度营收约是Datadog的1.6倍（$1.5B vs $953.2M），Paychex净利率更高（26.3% vs 4.9%，领先21.4%），Datadog同比增速更快（29.2% vs 17.4%），Paychex自由现金流更多（$382.8M vs $318.2M），过去两年Datadog的营收复合增速更高（24.9% vs 3.8%）
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。
Paychex是美国知名人力资源服务提供商，1971年成立，总部位于纽约州罗切斯特，面向中小微企业提供薪资管理、人力资源外包、员工福利外包等服务。目前在美欧地区拥有超100个办事处，服务约80万家薪资客户，位列《财富》500强第681位。
DDOG vs PAYX — 直观对比
营收规模更大
PAYX
是对方的1.6倍
$953.2M
营收增速更快
DDOG
高出11.8%
17.4%
净利率更高
PAYX
高出21.4%
4.9%
自由现金流更多
PAYX
多$64.6M
$318.2M
两年增速更快
DDOG
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $953.2M | $1.5B |
| 净利润 | $46.6M | $395.4M |
| 毛利率 | 80.4% | 72.6% |
| 营业利润率 | 1.0% | 38.0% |
| 净利率 | 4.9% | 26.3% |
| 营收同比 | 29.2% | 17.4% |
| 净利润同比 | 2.1% | -4.4% |
| 每股收益（稀释后） | $0.13 | $1.10 |
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DDOGPAYX
| Q4 25 | $953.2M | $1.5B | ||
| Q3 25 | $885.7M | $1.5B | ||
| Q2 25 | $826.8M | $1.4B | ||
| Q1 25 | $761.6M | $1.5B | ||
| Q4 24 | $737.7M | $1.3B | ||
| Q3 24 | $690.0M | $1.3B | ||
| Q2 24 | $645.3M | $1.3B | ||
| Q1 24 | $611.3M | $1.4B |
净利润DDOGPAYX
| Q4 25 | $46.6M | $395.4M | ||
| Q3 25 | $33.9M | $383.8M | ||
| Q2 25 | $2.6M | $297.2M | ||
| Q1 25 | $24.6M | $519.3M | ||
| Q4 24 | $45.6M | $413.4M | ||
| Q3 24 | $51.7M | $427.4M | ||
| Q2 24 | $43.8M | $379.9M | ||
| Q1 24 | $42.6M | $498.6M |
毛利率DDOGPAYX
| Q4 25 | 80.4% | 72.6% | ||
| Q3 25 | 80.1% | 72.3% | ||
| Q2 25 | 79.9% | 71.5% | ||
| Q1 25 | 79.3% | 73.6% | ||
| Q4 24 | 80.5% | 70.4% | ||
| Q3 24 | 80.0% | 70.3% | ||
| Q2 24 | 80.9% | 70.1% | ||
| Q1 24 | 82.0% | 72.8% |
营业利润率DDOGPAYX
| Q4 25 | 1.0% | 38.0% | ||
| Q3 25 | -0.7% | 36.3% | ||
| Q2 25 | -4.3% | 31.2% | ||
| Q1 25 | -1.6% | 47.2% | ||
| Q4 24 | 1.3% | 42.0% | ||
| Q3 24 | 2.9% | 42.7% | ||
| Q2 24 | 2.0% | 38.3% | ||
| Q1 24 | 2.0% | 46.6% |
净利率DDOGPAYX
| Q4 25 | 4.9% | 26.3% | ||
| Q3 25 | 3.8% | 25.7% | ||
| Q2 25 | 0.3% | 21.5% | ||
| Q1 25 | 3.2% | 35.4% | ||
| Q4 24 | 6.2% | 32.3% | ||
| Q3 24 | 7.5% | 33.4% | ||
| Q2 24 | 6.8% | 30.2% | ||
| Q1 24 | 7.0% | 35.7% |
每股收益（稀释后）DDOGPAYX
| Q4 25 | $0.13 | $1.10 | ||
| Q3 25 | $0.10 | $1.06 | ||
| Q2 25 | $0.01 | $0.83 | ||
| Q1 25 | $0.07 | $1.43 | ||
| Q4 24 | $0.14 | $1.14 | ||
| Q3 24 | $0.14 | $1.18 | ||
| Q2 24 | $0.12 | $1.05 | ||
| Q1 24 | $0.12 | $1.38 |
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 | $1.5B |
| 总债务越低越好 | — | $5.0B |
| 股东权益账面价值 | $3.7B | $3.9B |
| 总资产 | $6.6B | $16.5B |
| 负债/权益比越低杠杆越低 | — | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资DDOGPAYX
| Q4 25 | $401.3M | $1.5B | ||
| Q3 25 | $540.6M | $1.7B | ||
| Q2 25 | $489.0M | $1.7B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $337.4M | $1.5B | ||
| Q2 24 | $411.0M | $1.5B | ||
| Q1 24 | $282.2M | $1.7B |
总债务DDOGPAYX
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $4.9B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $798.6M | ||
| Q1 24 | — | — |
股东权益DDOGPAYX
| Q4 25 | $3.7B | $3.9B | ||
| Q3 25 | $3.4B | $4.0B | ||
| Q2 25 | $3.2B | $4.1B | ||
| Q1 25 | $2.9B | $4.1B | ||
| Q4 24 | $2.7B | $3.9B | ||
| Q3 24 | $2.6B | $3.9B | ||
| Q2 24 | $2.4B | $3.8B | ||
| Q1 24 | $2.2B | $3.7B |
总资产DDOGPAYX
| Q4 25 | $6.6B | $16.5B | ||
| Q3 25 | $6.1B | $16.7B | ||
| Q2 25 | $5.8B | $16.6B | ||
| Q1 25 | $6.0B | $11.2B | ||
| Q4 24 | $5.8B | $10.6B | ||
| Q3 24 | $4.6B | $10.5B | ||
| Q2 24 | $4.4B | $10.4B | ||
| Q1 24 | $4.1B | $13.0B |
负债/权益比DDOGPAYX
| Q4 25 | — | 1.28× | ||
| Q3 25 | — | 1.25× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.21× | ||
| Q1 24 | — | — |
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 | $444.9M |
| 自由现金流经营现金流 - 资本支出 | $318.2M | $382.8M |
| 自由现金流率自由现金流/营收 | 33.4% | 25.5% |
| 资本支出强度资本支出/营收 | 0.9% | 4.1% |
| 现金转化率经营现金流/净利润 | 7.02× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $2.0B |
8季度趋势，按日历期对齐
经营现金流DDOGPAYX
| Q4 25 | $327.1M | $444.9M | ||
| Q3 25 | $251.5M | $718.4M | ||
| Q2 25 | $200.1M | $343.8M | ||
| Q1 25 | $271.5M | $716.0M | ||
| Q4 24 | $265.2M | $295.0M | ||
| Q3 24 | $228.7M | $546.1M | ||
| Q2 24 | $164.4M | $221.7M | ||
| Q1 24 | $212.3M | $671.7M |
自由现金流DDOGPAYX
| Q4 25 | $318.2M | $382.8M | ||
| Q3 25 | $234.7M | $662.5M | ||
| Q2 25 | $184.9M | $283.3M | ||
| Q1 25 | $262.8M | $667.3M | ||
| Q4 24 | $257.5M | $248.0M | ||
| Q3 24 | $220.3M | $510.5M | ||
| Q2 24 | $160.0M | $180.4M | ||
| Q1 24 | $198.1M | $631.0M |
自由现金流率DDOGPAYX
| Q4 25 | 33.4% | 25.5% | ||
| Q3 25 | 26.5% | 44.4% | ||
| Q2 25 | 22.4% | 20.5% | ||
| Q1 25 | 34.5% | 45.5% | ||
| Q4 24 | 34.9% | 19.4% | ||
| Q3 24 | 31.9% | 39.9% | ||
| Q2 24 | 24.8% | 14.4% | ||
| Q1 24 | 32.4% | 45.2% |
资本支出强度DDOGPAYX
| Q4 25 | 0.9% | 4.1% | ||
| Q3 25 | 1.9% | 3.7% | ||
| Q2 25 | 1.8% | 4.4% | ||
| Q1 25 | 1.1% | 3.3% | ||
| Q4 24 | 1.1% | 3.7% | ||
| Q3 24 | 1.2% | 2.8% | ||
| Q2 24 | 0.7% | 3.3% | ||
| Q1 24 | 2.3% | 2.9% |
现金转化率DDOGPAYX
| Q4 25 | 7.02× | 1.13× | ||
| Q3 25 | 7.42× | 1.87× | ||
| Q2 25 | 75.58× | 1.16× | ||
| Q1 25 | 11.02× | 1.38× | ||
| Q4 24 | 5.82× | 0.71× | ||
| Q3 24 | 4.42× | 1.28× | ||
| Q2 24 | 3.75× | 0.58× | ||
| Q1 24 | 4.98× | 1.35× |
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% |
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
