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DigitalOcean Holdings, Inc.（DOCN）与Paycom（PAYC）财务数据对比。点击上方公司名可切换其他公司
Paycom的季度营收约是DigitalOcean Holdings, Inc.的2.2倍（$544.3M vs $242.4M），Paycom净利率更高（20.9% vs 10.6%，领先10.3%），DigitalOcean Holdings, Inc.同比增速更快（18.3% vs 10.2%），Paycom自由现金流更多（$122.6M vs $31.1M），过去两年DigitalOcean Holdings, Inc.的营收复合增速更高（14.5% vs 4.3%）
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。
Paycom Software Inc.（简称Paycom）是1998年成立的线上薪资与人力资源软件服务商，总部位于美国俄克拉荷马城，在全美多地设有办事处，是全球最早推出全线上薪资管理服务的供应商之一，2025年营收达20.52亿美元，较2024年的18.83亿美元稳步增长。
DOCN vs PAYC — 直观对比
营收规模更大
PAYC
是对方的2.2倍
$242.4M
营收增速更快
DOCN
高出8.1%
10.2%
净利率更高
PAYC
高出10.3%
10.6%
自由现金流更多
PAYC
多$91.5M
$31.1M
两年增速更快
DOCN
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $242.4M | $544.3M |
| 净利润 | $25.7M | $113.8M |
| 毛利率 | 58.7% | 83.9% |
| 营业利润率 | 16.0% | 28.9% |
| 净利率 | 10.6% | 20.9% |
| 营收同比 | 18.3% | 10.2% |
| 净利润同比 | 40.5% | 0.2% |
| 每股收益（稀释后） | $0.23 | $2.06 |
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DOCNPAYC
| Q4 25 | $242.4M | $544.3M | ||
| Q3 25 | $229.6M | $493.3M | ||
| Q2 25 | $218.7M | $483.6M | ||
| Q1 25 | $210.7M | $530.5M | ||
| Q4 24 | $204.9M | $493.9M | ||
| Q3 24 | $198.5M | $451.9M | ||
| Q2 24 | $192.5M | $437.5M | ||
| Q1 24 | $184.7M | $499.9M |
净利润DOCNPAYC
| Q4 25 | $25.7M | $113.8M | ||
| Q3 25 | $158.4M | $110.7M | ||
| Q2 25 | $37.0M | $89.5M | ||
| Q1 25 | $38.2M | $139.4M | ||
| Q4 24 | $18.3M | $113.6M | ||
| Q3 24 | $32.9M | $73.3M | ||
| Q2 24 | $19.1M | $68.0M | ||
| Q1 24 | $14.1M | $247.2M |
毛利率DOCNPAYC
| Q4 25 | 58.7% | 83.9% | ||
| Q3 25 | 59.6% | 82.7% | ||
| Q2 25 | 59.9% | 81.9% | ||
| Q1 25 | 61.4% | 84.1% | ||
| Q4 24 | 57.1% | 83.1% | ||
| Q3 24 | 60.2% | 80.5% | ||
| Q2 24 | 61.0% | 80.8% | ||
| Q1 24 | 60.7% | 84.3% |
营业利润率DOCNPAYC
| Q4 25 | 16.0% | 28.9% | ||
| Q3 25 | 19.6% | 22.8% | ||
| Q2 25 | 16.3% | 23.2% | ||
| Q1 25 | 17.9% | 34.9% | ||
| Q4 24 | 15.9% | 30.1% | ||
| Q3 24 | 12.4% | 23.2% | ||
| Q2 24 | 11.6% | 21.7% | ||
| Q1 24 | 6.2% | 57.2% |
净利率DOCNPAYC
| Q4 25 | 10.6% | 20.9% | ||
| Q3 25 | 69.0% | 22.4% | ||
| Q2 25 | 16.9% | 18.5% | ||
| Q1 25 | 18.1% | 26.3% | ||
| Q4 24 | 8.9% | 23.0% | ||
| Q3 24 | 16.6% | 16.2% | ||
| Q2 24 | 9.9% | 15.5% | ||
| Q1 24 | 7.7% | 49.4% |
每股收益（稀释后）DOCNPAYC
| Q4 25 | $0.23 | $2.06 | ||
| Q3 25 | $1.51 | $1.96 | ||
| Q2 25 | $0.39 | $1.58 | ||
| Q1 25 | $0.39 | $2.48 | ||
| Q4 24 | $0.21 | $2.04 | ||
| Q3 24 | $0.33 | $1.31 | ||
| Q2 24 | $0.20 | $1.20 | ||
| Q1 24 | $0.15 | $4.37 |
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 | $370.0M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $-28.7M | $1.7B |
| 总资产 | $1.8B | $7.6B |
| 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DOCNPAYC
| Q4 25 | $254.5M | $370.0M | ||
| Q3 25 | $236.6M | $375.0M | ||
| Q2 25 | $387.7M | $532.2M | ||
| Q1 25 | $360.4M | $520.8M | ||
| Q4 24 | $428.4M | $402.0M | ||
| Q3 24 | $439.9M | $325.8M | ||
| Q2 24 | $443.1M | $346.5M | ||
| Q1 24 | $419.1M | $371.3M |
总债务DOCNPAYC
| 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DOCNPAYC
| Q4 25 | $-28.7M | $1.7B | ||
| Q3 25 | $-69.6M | $1.7B | ||
| Q2 25 | $-175.2M | $1.8B | ||
| Q1 25 | $-210.7M | $1.7B | ||
| Q4 24 | $-203.0M | $1.6B | ||
| Q3 24 | $-211.7M | $1.5B | ||
| Q2 24 | $-253.8M | $1.4B | ||
| Q1 24 | $-286.1M | $1.4B |
总资产DOCNPAYC
| Q4 25 | $1.8B | $7.6B | ||
| Q3 25 | $1.7B | $4.2B | ||
| Q2 25 | $1.7B | $4.0B | ||
| Q1 25 | $1.6B | $4.6B | ||
| Q4 24 | $1.6B | $5.9B | ||
| Q3 24 | $1.5B | $3.5B | ||
| Q2 24 | $1.5B | $4.3B | ||
| Q1 24 | $1.5B | $4.7B |
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 | $57.3M | $196.1M |
| 自由现金流经营现金流 - 资本支出 | $31.1M | $122.6M |
| 自由现金流率自由现金流/营收 | 12.8% | 22.5% |
| 资本支出强度资本支出/营收 | 10.8% | 13.5% |
| 现金转化率经营现金流/净利润 | 2.23× | 1.72× |
| 过去12个月自由现金流最近4个季度 | $180.5M | $408.0M |
8季度趋势，按日历期对齐
经营现金流DOCNPAYC
| Q4 25 | $57.3M | $196.1M | ||
| Q3 25 | $95.8M | $177.8M | ||
| Q2 25 | $92.4M | $122.5M | ||
| Q1 25 | $64.1M | $182.5M | ||
| Q4 24 | $71.3M | $160.4M | ||
| Q3 24 | $73.4M | $92.8M | ||
| Q2 24 | $71.3M | $132.1M | ||
| Q1 24 | $66.7M | $148.6M |
自由现金流DOCNPAYC
| Q4 25 | $31.1M | $122.6M | ||
| Q3 25 | $88.0M | $79.8M | ||
| Q2 25 | $59.3M | $60.8M | ||
| Q1 25 | $2.1M | $144.8M | ||
| Q4 24 | $26.1M | $109.0M | ||
| Q3 24 | $16.0M | $44.6M | ||
| Q2 24 | $39.5M | $86.5M | ||
| Q1 24 | $23.0M | $100.9M |
自由现金流率DOCNPAYC
| Q4 25 | 12.8% | 22.5% | ||
| Q3 25 | 38.3% | 16.2% | ||
| Q2 25 | 27.1% | 12.6% | ||
| Q1 25 | 1.0% | 27.3% | ||
| Q4 24 | 12.7% | 22.1% | ||
| Q3 24 | 8.1% | 9.9% | ||
| Q2 24 | 20.5% | 19.8% | ||
| Q1 24 | 12.5% | 20.2% |
资本支出强度DOCNPAYC
| Q4 25 | 10.8% | 13.5% | ||
| Q3 25 | 3.4% | 19.9% | ||
| Q2 25 | 15.2% | 12.8% | ||
| Q1 25 | 29.4% | 7.1% | ||
| Q4 24 | 22.1% | 10.4% | ||
| Q3 24 | 28.9% | 10.7% | ||
| Q2 24 | 16.6% | 10.4% | ||
| Q1 24 | 23.6% | 9.5% |
现金转化率DOCNPAYC
| Q4 25 | 2.23× | 1.72× | ||
| Q3 25 | 0.60× | 1.61× | ||
| Q2 25 | 2.50× | 1.37× | ||
| Q1 25 | 1.68× | 1.31× | ||
| Q4 24 | 3.91× | 1.41× | ||
| Q3 24 | 2.23× | 1.27× | ||
| Q2 24 | 3.73× | 1.94× | ||
| Q1 24 | 4.72× | 0.60× |
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% |
PAYC
| Recurring | $510.3M | 94% |
| Interest On Funds Held For Clients | $27.2M | 5% |
| Implementation And Other | $6.8M | 1% |
