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DigitalOcean Holdings, Inc.（DOCN）与FTAI Infrastructure Inc.（FIP）财务数据对比。点击上方公司名可切换其他公司
DigitalOcean Holdings, Inc.的季度营收约是FTAI Infrastructure Inc.的1.7倍（$242.4M vs $143.5M），DigitalOcean Holdings, Inc.净利率更高（10.6% vs -68.1%，领先78.7%），FTAI Infrastructure Inc.同比增速更快（77.7% vs 18.3%），DigitalOcean Holdings, Inc.自由现金流更多（$31.1M vs $-68.6M），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% 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。
FTAI基础设施有限公司持有、运营并投资交通物流、中游能源、发电等核心领域的优质关键基础设施资产，主要面向北美市场，聚焦拥有稳定长期现金流、合同约定收入流的项目，为利益相关方创造可持续回报。
DOCN vs FIP — 直观对比
营收规模更大
DOCN
是对方的1.7倍
$143.5M
营收增速更快
FIP
高出59.4%
18.3%
净利率更高
DOCN
高出78.7%
-68.1%
自由现金流更多
DOCN
多$99.8M
$-68.6M
两年增速更快
FIP
近两年复合增速
14.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $242.4M | $143.5M |
| 净利润 | $25.7M | $-97.7M |
| 毛利率 | 58.7% | — |
| 营业利润率 | 16.0% | -45.7% |
| 净利率 | 10.6% | -68.1% |
| 营收同比 | 18.3% | 77.7% |
| 净利润同比 | 40.5% | 21.6% |
| 每股收益（稀释后） | $0.23 | $-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DOCNFIP
| Q4 25 | $242.4M | $143.5M | ||
| Q3 25 | $229.6M | $140.6M | ||
| Q2 25 | $218.7M | $122.3M | ||
| Q1 25 | $210.7M | $96.2M | ||
| Q4 24 | $204.9M | $80.8M | ||
| Q3 24 | $198.5M | $83.3M | ||
| Q2 24 | $192.5M | $84.9M | ||
| Q1 24 | $184.7M | $82.5M |
净利润DOCNFIP
| Q4 25 | $25.7M | $-97.7M | ||
| Q3 25 | $158.4M | $-104.5M | ||
| Q2 25 | $37.0M | $-70.0M | ||
| Q1 25 | $38.2M | $120.2M | ||
| Q4 24 | $18.3M | $-124.7M | ||
| Q3 24 | $32.9M | $-43.0M | ||
| Q2 24 | $19.1M | $-48.1M | ||
| Q1 24 | $14.1M | $-50.3M |
毛利率DOCNFIP
| 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DOCNFIP
| Q4 25 | 16.0% | -45.7% | ||
| Q3 25 | 19.6% | -70.8% | ||
| Q2 25 | 16.3% | -56.4% | ||
| Q1 25 | 17.9% | 81.8% | ||
| Q4 24 | 15.9% | -152.7% | ||
| Q3 24 | 12.4% | -51.7% | ||
| Q2 24 | 11.6% | -56.4% | ||
| Q1 24 | 6.2% | -58.8% |
净利率DOCNFIP
| Q4 25 | 10.6% | -68.1% | ||
| Q3 25 | 69.0% | -74.4% | ||
| Q2 25 | 16.9% | -57.2% | ||
| Q1 25 | 18.1% | 125.0% | ||
| Q4 24 | 8.9% | -154.4% | ||
| Q3 24 | 16.6% | -51.6% | ||
| Q2 24 | 9.9% | -56.7% | ||
| Q1 24 | 7.7% | -60.9% |
每股收益（稀释后）DOCNFIP
| Q4 25 | $0.23 | $-1.04 | ||
| Q3 25 | $1.51 | $-1.38 | ||
| Q2 25 | $0.39 | $-0.73 | ||
| Q1 25 | $0.39 | $0.89 | ||
| Q4 24 | $0.21 | $-1.21 | ||
| Q3 24 | $0.33 | $-0.45 | ||
| Q2 24 | $0.20 | $-0.52 | ||
| Q1 24 | $0.15 | $-0.54 |
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 | $57.4M |
| 总债务越低越好 | $1.3B | $3.8B |
| 股东权益账面价值 | $-28.7M | $21.3M |
| 总资产 | $1.8B | $5.7B |
| 负债/权益比越低杠杆越低 | — | 176.99× |
8季度趋势，按日历期对齐
现金及短期投资DOCNFIP
| Q4 25 | $254.5M | $57.4M | ||
| Q3 25 | $236.6M | $34.7M | ||
| Q2 25 | $387.7M | $33.6M | ||
| Q1 25 | $360.4M | $26.3M | ||
| Q4 24 | $428.4M | $27.8M | ||
| Q3 24 | $439.9M | $20.3M | ||
| Q2 24 | $443.1M | $33.1M | ||
| Q1 24 | $419.1M | $23.0M |
总债务DOCNFIP
| Q4 25 | $1.3B | $3.8B | ||
| Q3 25 | $1.3B | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $1.5B | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.3B |
股东权益DOCNFIP
| Q4 25 | $-28.7M | $21.3M | ||
| Q3 25 | $-69.6M | $181.1M | ||
| Q2 25 | $-175.2M | $375.5M | ||
| Q1 25 | $-210.7M | $476.2M | ||
| Q4 24 | $-203.0M | $202.7M | ||
| Q3 24 | $-211.7M | $370.8M | ||
| Q2 24 | $-253.8M | $394.8M | ||
| Q1 24 | $-286.1M | $402.5M |
总资产DOCNFIP
| Q4 25 | $1.8B | $5.7B | ||
| Q3 25 | $1.7B | $5.5B | ||
| Q2 25 | $1.7B | $4.4B | ||
| Q1 25 | $1.6B | $4.1B | ||
| Q4 24 | $1.6B | $2.4B | ||
| Q3 24 | $1.5B | $2.4B | ||
| Q2 24 | $1.5B | $2.5B | ||
| Q1 24 | $1.5B | $2.3B |
负债/权益比DOCNFIP
| Q4 25 | — | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | — | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× | ||
| Q1 24 | — | 3.34× |
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 | $-2.8M |
| 自由现金流经营现金流 - 资本支出 | $31.1M | $-68.6M |
| 自由现金流率自由现金流/营收 | 12.8% | -47.8% |
| 资本支出强度资本支出/营收 | 10.8% | 45.9% |
| 现金转化率经营现金流/净利润 | 2.23× | — |
| 过去12个月自由现金流最近4个季度 | $180.5M | $-398.5M |
8季度趋势，按日历期对齐
经营现金流DOCNFIP
| Q4 25 | $57.3M | $-2.8M | ||
| Q3 25 | $95.8M | $-24.4M | ||
| Q2 25 | $92.4M | $-5.2M | ||
| Q1 25 | $64.1M | $-85.7M | ||
| Q4 24 | $71.3M | $-8.1M | ||
| Q3 24 | $73.4M | $14.2M | ||
| Q2 24 | $71.3M | $-17.6M | ||
| Q1 24 | $66.7M | $-3.9M |
自由现金流DOCNFIP
| Q4 25 | $31.1M | $-68.6M | ||
| Q3 25 | $88.0M | $-90.7M | ||
| Q2 25 | $59.3M | $-87.5M | ||
| Q1 25 | $2.1M | $-151.7M | ||
| Q4 24 | $26.1M | $-34.3M | ||
| Q3 24 | $16.0M | $-11.7M | ||
| Q2 24 | $39.5M | $-32.1M | ||
| Q1 24 | $23.0M | $-16.7M |
自由现金流率DOCNFIP
| Q4 25 | 12.8% | -47.8% | ||
| Q3 25 | 38.3% | -64.5% | ||
| Q2 25 | 27.1% | -71.6% | ||
| Q1 25 | 1.0% | -157.7% | ||
| Q4 24 | 12.7% | -42.4% | ||
| Q3 24 | 8.1% | -14.0% | ||
| Q2 24 | 20.5% | -37.9% | ||
| Q1 24 | 12.5% | -20.3% |
资本支出强度DOCNFIP
| Q4 25 | 10.8% | 45.9% | ||
| Q3 25 | 3.4% | 47.2% | ||
| Q2 25 | 15.2% | 67.3% | ||
| Q1 25 | 29.4% | 68.6% | ||
| Q4 24 | 22.1% | 32.5% | ||
| Q3 24 | 28.9% | 31.1% | ||
| Q2 24 | 16.6% | 17.2% | ||
| Q1 24 | 23.6% | 15.6% |
现金转化率DOCNFIP
| Q4 25 | 2.23× | — | ||
| Q3 25 | 0.60× | — | ||
| Q2 25 | 2.50× | — | ||
| Q1 25 | 1.68× | -0.71× | ||
| Q4 24 | 3.91× | — | ||
| Q3 24 | 2.23× | — | ||
| Q2 24 | 3.73× | — | ||
| Q1 24 | 4.72× | — |
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% |
FIP
| Power Revenues | $45.9M | 32% |
| Rail Revenue | $44.6M | 31% |
| Service Other | $22.8M | 16% |
| Gas Revenues | $15.3M | 11% |
| Roadside Services Revenues | $11.5M | 8% |
| Rapauno | $1.2M | 1% |
