vs
DigitalOcean Holdings, Inc.（DOCN）与艾玛迪斯（GDS）财务数据对比。点击上方公司名可切换其他公司
艾玛迪斯的季度营收约是DigitalOcean Holdings, Inc.的1.7倍（$405.6M vs $242.4M），DigitalOcean Holdings, Inc.净利率更高（10.6% vs -0.1%，领先10.7%），DigitalOcean Holdings, Inc.自由现金流更多（$31.1M vs $-96.3M）
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。
西班牙跨国科技企业艾玛迪斯是全球领先的旅游技术服务商，面向航空、酒店、旅行社等各类旅游相关企业提供定制化软件解决方案，业务覆盖全球市场，助力旅游行业客户优化运营效率、提升服务体验。
DOCN vs GDS — 直观对比
营收规模更大
GDS
是对方的1.7倍
$242.4M
净利率更高
DOCN
高出10.7%
-0.1%
自由现金流更多
DOCN
多$127.4M
$-96.3M
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $242.4M | $405.6M |
| 净利润 | $25.7M | $-373.0K |
| 毛利率 | 58.7% | 22.1% |
| 营业利润率 | 16.0% | — |
| 净利率 | 10.6% | -0.1% |
| 营收同比 | 18.3% | — |
| 净利润同比 | 40.5% | — |
| 每股收益（稀释后） | $0.23 | — |
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DOCNGDS
| Q4 25 | $242.4M | — | ||
| Q3 25 | $229.6M | $405.6M | ||
| Q2 25 | $218.7M | $404.9M | ||
| Q1 25 | $210.7M | $375.3M | ||
| Q4 24 | $204.9M | — | ||
| Q3 24 | $198.5M | $422.6M | ||
| Q2 24 | $192.5M | $388.9M | ||
| Q1 24 | $184.7M | $363.9M |
净利润DOCNGDS
| Q4 25 | $25.7M | — | ||
| Q3 25 | $158.4M | $-373.0K | ||
| Q2 25 | $37.0M | $-240.0K | ||
| Q1 25 | $38.2M | $-145.0K | ||
| Q4 24 | $18.3M | — | ||
| Q3 24 | $32.9M | $-32.9M | ||
| Q2 24 | $19.1M | $-31.9M | ||
| Q1 24 | $14.1M | $-47.8M |
毛利率DOCNGDS
| Q4 25 | 58.7% | — | ||
| Q3 25 | 59.6% | 22.1% | ||
| Q2 25 | 59.9% | 23.8% | ||
| Q1 25 | 61.4% | 23.7% | ||
| Q4 24 | 57.1% | — | ||
| Q3 24 | 60.2% | 22.2% | ||
| Q2 24 | 61.0% | 22.6% | ||
| Q1 24 | 60.7% | 21.8% |
营业利润率DOCNGDS
| Q4 25 | 16.0% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 16.3% | — | ||
| Q1 25 | 17.9% | — | ||
| Q4 24 | 15.9% | — | ||
| Q3 24 | 12.4% | 10.8% | ||
| Q2 24 | 11.6% | 11.2% | ||
| Q1 24 | 6.2% | 8.3% |
净利率DOCNGDS
| Q4 25 | 10.6% | — | ||
| Q3 25 | 69.0% | -0.1% | ||
| Q2 25 | 16.9% | -0.1% | ||
| Q1 25 | 18.1% | -0.0% | ||
| Q4 24 | 8.9% | — | ||
| Q3 24 | 16.6% | -7.8% | ||
| Q2 24 | 9.9% | -8.2% | ||
| Q1 24 | 7.7% | -13.1% |
每股收益（稀释后）DOCNGDS
| Q4 25 | $0.23 | — | ||
| Q3 25 | $1.51 | — | ||
| Q2 25 | $0.39 | — | ||
| Q1 25 | $0.39 | — | ||
| Q4 24 | $0.21 | — | ||
| Q3 24 | $0.33 | — | ||
| Q2 24 | $0.20 | — | ||
| Q1 24 | $0.15 | — |
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 | — |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $-28.7M | $3.6B |
| 总资产 | $1.8B | $11.0B |
| 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DOCNGDS
| Q4 25 | $254.5M | — | ||
| Q3 25 | $236.6M | — | ||
| Q2 25 | $387.7M | — | ||
| Q1 25 | $360.4M | — | ||
| Q4 24 | $428.4M | — | ||
| Q3 24 | $439.9M | — | ||
| Q2 24 | $443.1M | — | ||
| Q1 24 | $419.1M | — |
总债务DOCNGDS
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DOCNGDS
| Q4 25 | $-28.7M | — | ||
| Q3 25 | $-69.6M | $3.6B | ||
| Q2 25 | $-175.2M | $3.4B | ||
| Q1 25 | $-210.7M | $3.2B | ||
| Q4 24 | $-203.0M | — | ||
| Q3 24 | $-211.7M | $2.7B | ||
| Q2 24 | $-253.8M | $2.6B | ||
| Q1 24 | $-286.1M | $2.6B |
总资产DOCNGDS
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.7B | $11.0B | ||
| Q2 25 | $1.7B | $11.1B | ||
| Q1 25 | $1.6B | $10.1B | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.5B | $11.7B | ||
| Q2 24 | $1.5B | $10.9B | ||
| Q1 24 | $1.5B | $10.5B |
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 | $103.5M |
| 自由现金流经营现金流 - 资本支出 | $31.1M | $-96.3M |
| 自由现金流率自由现金流/营收 | 12.8% | -23.7% |
| 资本支出强度资本支出/营收 | 10.8% | 49.2% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流DOCNGDS
| Q4 25 | $57.3M | — | ||
| Q3 25 | $95.8M | $103.5M | ||
| Q2 25 | $92.4M | $120.8M | ||
| Q1 25 | $64.1M | — | ||
| Q4 24 | $71.3M | — | ||
| Q3 24 | $73.4M | $91.4M | ||
| Q2 24 | $71.3M | — | ||
| Q1 24 | $66.7M | — |
自由现金流DOCNGDS
| Q4 25 | $31.1M | — | ||
| Q3 25 | $88.0M | $-96.3M | ||
| Q2 25 | $59.3M | $-55.8M | ||
| Q1 25 | $2.1M | — | ||
| Q4 24 | $26.1M | — | ||
| Q3 24 | $16.0M | $-321.7M | ||
| Q2 24 | $39.5M | — | ||
| Q1 24 | $23.0M | — |
自由现金流率DOCNGDS
| Q4 25 | 12.8% | — | ||
| Q3 25 | 38.3% | -23.7% | ||
| Q2 25 | 27.1% | -13.8% | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 12.7% | — | ||
| Q3 24 | 8.1% | -76.1% | ||
| Q2 24 | 20.5% | — | ||
| Q1 24 | 12.5% | — |
资本支出强度DOCNGDS
| Q4 25 | 10.8% | — | ||
| Q3 25 | 3.4% | 49.2% | ||
| Q2 25 | 15.2% | 43.6% | ||
| Q1 25 | 29.4% | — | ||
| Q4 24 | 22.1% | — | ||
| Q3 24 | 28.9% | 97.7% | ||
| Q2 24 | 16.6% | — | ||
| Q1 24 | 23.6% | — |
现金转化率DOCNGDS
| Q4 25 | 2.23× | — | ||
| Q3 25 | 0.60× | — | ||
| Q2 25 | 2.50× | — | ||
| Q1 25 | 1.68× | — | ||
| 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% |
GDS
| Service revenue | $405.5M | 100% |
| Equipment sales | $2.8M | 1% |
