vs
DigitalOcean Holdings, Inc.（DOCN）与DT Midstream, Inc.（DTM）财务数据对比。点击上方公司名可切换其他公司
DT Midstream, Inc.的季度营收约是DigitalOcean Holdings, Inc.的1.3倍（$317.0M vs $242.4M），DT Midstream, Inc.净利率更高（35.0% vs 10.6%，领先24.4%），DT Midstream, Inc.同比增速更快（27.3% vs 18.3%），DigitalOcean Holdings, Inc.自由现金流更多（$31.1M vs $30.0M），过去两年DT Midstream, Inc.的营收复合增速更高（14.9% vs 14.5%）
DigitalOcean Holdings, Inc.是美国跨国科技企业及云服务提供商，总部位于美国科罗拉多州布鲁姆菲尔德，在全球布局15个数据中心，面向开发者、初创企业及中小微企业提供稳定易用的云基础设施即服务平台，助力各类技术团队高效开展业务。
ONEOK是美国油气中游运营商，总部位于俄克拉荷马州塔尔萨，为油气行业提供收集、处理、分馏、运输及存储服务，是财富500强企业及标普500指数成分股。公司1906年成立时名为俄克拉荷马天然气公司，1980年更为现名。
DOCN vs DTM — 直观对比
营收规模更大
DTM
是对方的1.3倍
$242.4M
营收增速更快
DTM
高出9.0%
18.3%
净利率更高
DTM
高出24.4%
10.6%
自由现金流更多
DOCN
多$1.1M
$30.0M
两年增速更快
DTM
近两年复合增速
14.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $242.4M | $317.0M |
| 净利润 | $25.7M | $111.0M |
| 毛利率 | 58.7% | — |
| 营业利润率 | 16.0% | 49.2% |
| 净利率 | 10.6% | 35.0% |
| 营收同比 | 18.3% | 27.3% |
| 净利润同比 | 40.5% | 52.1% |
| 每股收益（稀释后） | $0.23 | $1.07 |
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DOCNDTM
| Q4 25 | $242.4M | $317.0M | ||
| Q3 25 | $229.6M | $314.0M | ||
| Q2 25 | $218.7M | $309.0M | ||
| Q1 25 | $210.7M | $303.0M | ||
| Q4 24 | $204.9M | $249.0M | ||
| Q3 24 | $198.5M | $248.0M | ||
| Q2 24 | $192.5M | $244.0M | ||
| Q1 24 | $184.7M | $240.0M |
净利润DOCNDTM
| Q4 25 | $25.7M | $111.0M | ||
| Q3 25 | $158.4M | $115.0M | ||
| Q2 25 | $37.0M | $107.0M | ||
| Q1 25 | $38.2M | $108.0M | ||
| Q4 24 | $18.3M | $73.0M | ||
| Q3 24 | $32.9M | $88.0M | ||
| Q2 24 | $19.1M | $96.0M | ||
| Q1 24 | $14.1M | $97.0M |
毛利率DOCNDTM
| Q4 25 | 58.7% | — | ||
| Q3 25 | 59.6% | — | ||
| Q2 25 | 59.9% | — | ||
| Q1 25 | 61.4% | — | ||
| Q4 24 | 57.1% | — | ||
| Q3 24 | 60.2% | — | ||
| Q2 24 | 61.0% | — | ||
| Q1 24 | 60.7% | — |
营业利润率DOCNDTM
| Q4 25 | 16.0% | 49.2% | ||
| Q3 25 | 19.6% | 49.4% | ||
| Q2 25 | 16.3% | 50.2% | ||
| Q1 25 | 17.9% | 48.8% | ||
| Q4 24 | 15.9% | 45.4% | ||
| Q3 24 | 12.4% | 49.2% | ||
| Q2 24 | 11.6% | 53.3% | ||
| Q1 24 | 6.2% | 51.7% |
净利率DOCNDTM
| Q4 25 | 10.6% | 35.0% | ||
| Q3 25 | 69.0% | 36.6% | ||
| Q2 25 | 16.9% | 34.6% | ||
| Q1 25 | 18.1% | 35.6% | ||
| Q4 24 | 8.9% | 29.3% | ||
| Q3 24 | 16.6% | 35.5% | ||
| Q2 24 | 9.9% | 39.3% | ||
| Q1 24 | 7.7% | 40.4% |
每股收益（稀释后）DOCNDTM
| Q4 25 | $0.23 | $1.07 | ||
| Q3 25 | $1.51 | $1.13 | ||
| Q2 25 | $0.39 | $1.04 | ||
| Q1 25 | $0.39 | $1.06 | ||
| Q4 24 | $0.21 | $0.73 | ||
| Q3 24 | $0.33 | $0.90 | ||
| Q2 24 | $0.20 | $0.98 | ||
| Q1 24 | $0.15 | $0.99 |
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 | $254.5M | $54.0M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $-28.7M | $4.7B |
| 总资产 | $1.8B | $10.1B |
| 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DOCNDTM
| Q4 25 | $254.5M | $54.0M | ||
| Q3 25 | $236.6M | $98.0M | ||
| Q2 25 | $387.7M | $74.0M | ||
| Q1 25 | $360.4M | $83.0M | ||
| Q4 24 | $428.4M | $68.0M | ||
| Q3 24 | $439.9M | $77.0M | ||
| Q2 24 | $443.1M | $73.0M | ||
| Q1 24 | $419.1M | $41.0M |
总债务DOCNDTM
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.5B | $3.4B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DOCNDTM
| Q4 25 | $-28.7M | $4.7B | ||
| Q3 25 | $-69.6M | $4.7B | ||
| Q2 25 | $-175.2M | $4.7B | ||
| Q1 25 | $-210.7M | $4.6B | ||
| Q4 24 | $-203.0M | $4.6B | ||
| Q3 24 | $-211.7M | $4.2B | ||
| Q2 24 | $-253.8M | $4.2B | ||
| Q1 24 | $-286.1M | $4.2B |
总资产DOCNDTM
| Q4 25 | $1.8B | $10.1B | ||
| Q3 25 | $1.7B | $10.1B | ||
| Q2 25 | $1.7B | $10.0B | ||
| Q1 25 | $1.6B | $9.9B | ||
| Q4 24 | $1.6B | $9.9B | ||
| Q3 24 | $1.5B | $8.6B | ||
| Q2 24 | $1.5B | $9.0B | ||
| Q1 24 | $1.5B | $9.0B |
负债/权益比DOCNDTM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.72× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $57.3M | $161.0M |
| 自由现金流经营现金流 - 资本支出 | $31.1M | $30.0M |
| 自由现金流率自由现金流/营收 | 12.8% | 9.5% |
| 资本支出强度资本支出/营收 | 10.8% | 41.3% |
| 现金转化率经营现金流/净利润 | 2.23× | 1.45× |
| 过去12个月自由现金流最近4个季度 | $180.5M | $441.0M |
8季度趋势，按日历期对齐
经营现金流DOCNDTM
| Q4 25 | $57.3M | $161.0M | ||
| Q3 25 | $95.8M | $274.0M | ||
| Q2 25 | $92.4M | $185.0M | ||
| Q1 25 | $64.1M | $247.0M | ||
| Q4 24 | $71.3M | $152.0M | ||
| Q3 24 | $73.4M | $205.0M | ||
| Q2 24 | $71.3M | $165.0M | ||
| Q1 24 | $66.7M | $241.0M |
自由现金流DOCNDTM
| Q4 25 | $31.1M | $30.0M | ||
| Q3 25 | $88.0M | $131.0M | ||
| Q2 25 | $59.3M | $104.0M | ||
| Q1 25 | $2.1M | $176.0M | ||
| Q4 24 | $26.1M | $62.0M | ||
| Q3 24 | $16.0M | $124.0M | ||
| Q2 24 | $39.5M | $84.0M | ||
| Q1 24 | $23.0M | $143.0M |
自由现金流率DOCNDTM
| Q4 25 | 12.8% | 9.5% | ||
| Q3 25 | 38.3% | 41.7% | ||
| Q2 25 | 27.1% | 33.7% | ||
| Q1 25 | 1.0% | 58.1% | ||
| Q4 24 | 12.7% | 24.9% | ||
| Q3 24 | 8.1% | 50.0% | ||
| Q2 24 | 20.5% | 34.4% | ||
| Q1 24 | 12.5% | 59.6% |
资本支出强度DOCNDTM
| Q4 25 | 10.8% | 41.3% | ||
| Q3 25 | 3.4% | 45.5% | ||
| Q2 25 | 15.2% | 26.2% | ||
| Q1 25 | 29.4% | 23.4% | ||
| Q4 24 | 22.1% | 36.1% | ||
| Q3 24 | 28.9% | 32.7% | ||
| Q2 24 | 16.6% | 33.2% | ||
| Q1 24 | 23.6% | 40.8% |
现金转化率DOCNDTM
| Q4 25 | 2.23× | 1.45× | ||
| Q3 25 | 0.60× | 2.38× | ||
| Q2 25 | 2.50× | 1.73× | ||
| Q1 25 | 1.68× | 2.29× | ||
| Q4 24 | 3.91× | 2.08× | ||
| Q3 24 | 2.23× | 2.33× | ||
| Q2 24 | 3.73× | 1.72× | ||
| Q1 24 | 4.72× | 2.48× |
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
DOCN
| Scalers | $84.3M | 35% |
| Scalers Plus | $69.9M | 29% |
| Builders | $64.1M | 26% |
| Learners Testers And Other | $24.1M | 10% |
DTM
| Pipeline Segment | $173.0M | 55% |
| Gathering Segment | $144.0M | 45% |
