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DELUXE CORP（DLX）与DOCUSIGN, INC.（DOCU）财务数据对比。点击上方公司名可切换其他公司
DOCUSIGN, INC.的季度营收约是DELUXE CORP的1.5倍（$818.4M vs $535.2M），DOCUSIGN, INC.净利率更高（10.2% vs 2.2%，领先8.0%），DOCUSIGN, INC.同比增速更快（8.4% vs 2.8%）
德朗士公司是一家美国企业，提供支付处理、数据服务、票据与促销产品以及商户服务，业务分为B2B支付、数据、印刷和商户服务四大板块。截至2025年，公司为数百万中小企业和数千家金融机构提供服务，每年处理支付交易总额超2.8万亿美元，虽传统核心业务为票据印刷等印刷产品，如今支付与数据服务已成为核心板块。
DocuSign是总部位于美国加利福尼亚州旧金山的软件企业，为各类机构提供多设备支持的电子协议管理及电子签名相关产品。截至2025年，公司在180个国家拥有约170万客户，其处理的签名符合美国ESIGN法案、欧盟eIDAS法规要求，满足欧盟高级及合格签名标准。
DLX vs DOCU — 直观对比
营收规模更大
DOCU
是对方的1.5倍
$535.2M
营收增速更快
DOCU
高出5.6%
2.8%
净利率更高
DOCU
高出8.0%
2.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $535.2M | $818.4M |
| 净利润 | $12.0M | $83.7M |
| 毛利率 | 52.2% | 79.2% |
| 营业利润率 | 8.9% | 10.4% |
| 净利率 | 2.2% | 10.2% |
| 营收同比 | 2.8% | 8.4% |
| 净利润同比 | -5.0% | 34.1% |
| 每股收益（稀释后） | $0.25 | $0.40 |
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DLXDOCU
| Q4 25 | $535.2M | $818.4M | ||
| Q3 25 | $540.2M | $800.6M | ||
| Q2 25 | $521.3M | $763.7M | ||
| Q1 25 | $536.5M | — | ||
| Q4 24 | $520.6M | — | ||
| Q3 24 | $528.4M | — | ||
| Q2 24 | $537.8M | — | ||
| Q1 24 | $535.0M | — |
净利润DLXDOCU
| Q4 25 | $12.0M | $83.7M | ||
| Q3 25 | $33.7M | $63.0M | ||
| Q2 25 | $22.4M | $72.1M | ||
| Q1 25 | $14.0M | — | ||
| Q4 24 | $12.6M | — | ||
| Q3 24 | $8.9M | — | ||
| Q2 24 | $20.5M | — | ||
| Q1 24 | $10.8M | — |
毛利率DLXDOCU
| Q4 25 | 52.2% | 79.2% | ||
| Q3 25 | 53.9% | 79.3% | ||
| Q2 25 | 53.6% | 79.4% | ||
| Q1 25 | 52.4% | — | ||
| Q4 24 | 52.3% | — | ||
| Q3 24 | 53.3% | — | ||
| Q2 24 | 53.7% | — | ||
| Q1 24 | 53.0% | — |
营业利润率DLXDOCU
| Q4 25 | 8.9% | 10.4% | ||
| Q3 25 | 14.0% | 8.1% | ||
| Q2 25 | 11.7% | 7.9% | ||
| Q1 25 | 9.0% | — | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 7.9% | — | ||
| Q2 24 | 11.0% | — | ||
| Q1 24 | 8.3% | — |
净利率DLXDOCU
| Q4 25 | 2.2% | 10.2% | ||
| Q3 25 | 6.2% | 7.9% | ||
| Q2 25 | 4.3% | 9.4% | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | 2.4% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 3.8% | — | ||
| Q1 24 | 2.0% | — |
每股收益（稀释后）DLXDOCU
| Q4 25 | $0.25 | $0.40 | ||
| Q3 25 | $0.74 | $0.30 | ||
| Q2 25 | $0.50 | $0.34 | ||
| Q1 25 | $0.31 | — | ||
| Q4 24 | $0.28 | — | ||
| Q3 24 | $0.20 | — | ||
| Q2 24 | $0.46 | — | ||
| Q1 24 | $0.24 | — |
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 | $36.9M | $583.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $680.7M | $2.0B |
| 总资产 | $2.9B | $4.0B |
| 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DLXDOCU
| Q4 25 | $36.9M | $583.3M | ||
| Q3 25 | $25.8M | $600.0M | ||
| Q2 25 | $26.0M | $657.4M | ||
| Q1 25 | $30.3M | — | ||
| Q4 24 | $34.4M | — | ||
| Q3 24 | $41.3M | — | ||
| Q2 24 | $23.1M | — | ||
| Q1 24 | $23.5M | — |
股东权益DLXDOCU
| Q4 25 | $680.7M | $2.0B | ||
| Q3 25 | $664.1M | $2.0B | ||
| Q2 25 | $638.7M | $2.0B | ||
| Q1 25 | $622.5M | — | ||
| Q4 24 | $620.9M | — | ||
| Q3 24 | $612.7M | — | ||
| Q2 24 | $620.5M | — | ||
| Q1 24 | $608.4M | — |
总资产DLXDOCU
| Q4 25 | $2.9B | $4.0B | ||
| Q3 25 | $2.6B | $3.9B | ||
| Q2 25 | $2.5B | $3.9B | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.7B | — |
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 | $102.1M | $290.3M |
| 自由现金流经营现金流 - 资本支出 | — | $262.9M |
| 自由现金流率自由现金流/营收 | — | 32.1% |
| 资本支出强度资本支出/营收 | — | 3.3% |
| 现金转化率经营现金流/净利润 | 8.53× | 3.47× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流DLXDOCU
| Q4 25 | $102.1M | $290.3M | ||
| Q3 25 | $67.1M | $246.1M | ||
| Q2 25 | $51.1M | $251.4M | ||
| Q1 25 | $50.3M | — | ||
| Q4 24 | $60.2M | — | ||
| Q3 24 | $67.9M | — | ||
| Q2 24 | $39.6M | — | ||
| Q1 24 | $26.6M | — |
自由现金流DLXDOCU
| Q4 25 | — | $262.9M | ||
| Q3 25 | — | $217.6M | ||
| Q2 25 | $27.8M | $227.8M | ||
| Q1 25 | $24.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $46.7M | — | ||
| Q2 24 | $11.4M | — | ||
| Q1 24 | $6.1M | — |
自由现金流率DLXDOCU
| Q4 25 | — | 32.1% | ||
| Q3 25 | — | 27.2% | ||
| Q2 25 | 5.3% | 29.8% | ||
| Q1 25 | 4.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 8.8% | — | ||
| Q2 24 | 2.1% | — | ||
| Q1 24 | 1.1% | — |
资本支出强度DLXDOCU
| Q4 25 | — | 3.3% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | 4.5% | 3.1% | ||
| Q1 25 | 4.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.0% | — | ||
| Q2 24 | 5.2% | — | ||
| Q1 24 | 3.8% | — |
现金转化率DLXDOCU
| Q4 25 | 8.53× | 3.47× | ||
| Q3 25 | 1.99× | 3.91× | ||
| Q2 25 | 2.28× | 3.49× | ||
| Q1 25 | 3.59× | — | ||
| Q4 24 | 4.77× | — | ||
| Q3 24 | 7.60× | — | ||
| Q2 24 | 1.94× | — | ||
| Q1 24 | 2.46× | — |
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
DLX
| Services | $247.9M | 46% |
| B2B Payments | $76.3M | 14% |
| Datadrivenmarketingsolutions | $68.5M | 13% |
| Promotional Solutions Revenue | $60.9M | 11% |
| Treasurymanagementsolutions | $59.8M | 11% |
| Other | $17.3M | 3% |
| Other Web Based Solutions | $4.6M | 1% |
DOCU
| Subscription And Circulation | $801.0M | 98% |
| Professional Services And Other | $17.4M | 2% |
