vs
DigitalOcean Holdings, Inc.（DOCN）与P3 Health Partners Inc.（PIII）财务数据对比。点击上方公司名可切换其他公司
P3 Health Partners Inc.的季度营收约是DigitalOcean Holdings, Inc.的1.6倍（$384.8M vs $242.4M），DigitalOcean Holdings, Inc.净利率更高（10.6% vs -19.6%，领先30.2%），DigitalOcean Holdings, Inc.同比增速更快（18.3% vs 3.8%），过去两年DigitalOcean Holdings, Inc.的营收复合增速更高（14.5% vs -0.5%）
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。
P3 Health Partners Inc.是一家总部位于美国的人口健康管理与价值型医疗服务企业，与基层医疗机构及医疗系统合作，为包括联邦医保优势计划参保者在内的人群提供协同优质医疗服务，致力于提升诊疗效果、降低不必要的医疗开支。
DOCN vs PIII — 直观对比
营收规模更大
PIII
是对方的1.6倍
$242.4M
营收增速更快
DOCN
高出14.5%
3.8%
净利率更高
DOCN
高出30.2%
-19.6%
两年增速更快
DOCN
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $242.4M | $384.8M |
| 净利润 | $25.7M | $-75.5M |
| 毛利率 | 58.7% | — |
| 营业利润率 | 16.0% | -40.0% |
| 净利率 | 10.6% | -19.6% |
| 营收同比 | 18.3% | 3.8% |
| 净利润同比 | 40.5% | -28.8% |
| 每股收益（稀释后） | $0.23 | $-23.08 |
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DOCNPIII
| Q4 25 | $242.4M | $384.8M | ||
| Q3 25 | $229.6M | $345.3M | ||
| Q2 25 | $218.7M | $355.8M | ||
| Q1 25 | $210.7M | $373.2M | ||
| Q4 24 | $204.9M | $370.7M | ||
| Q3 24 | $198.5M | $362.1M | ||
| Q2 24 | $192.5M | $379.2M | ||
| Q1 24 | $184.7M | $388.5M |
净利润DOCNPIII
| Q4 25 | $25.7M | $-75.5M | ||
| Q3 25 | $158.4M | $-31.6M | ||
| Q2 25 | $37.0M | $-20.4M | ||
| Q1 25 | $38.2M | $-20.5M | ||
| Q4 24 | $18.3M | $-58.6M | ||
| Q3 24 | $32.9M | $-46.5M | ||
| Q2 24 | $19.1M | $-12.0M | ||
| Q1 24 | $14.1M | $-18.7M |
毛利率DOCNPIII
| 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DOCNPIII
| Q4 25 | 16.0% | -40.0% | ||
| Q3 25 | 19.6% | -12.8% | ||
| Q2 25 | 16.3% | -9.6% | ||
| Q1 25 | 17.9% | -10.2% | ||
| Q4 24 | 15.9% | -37.4% | ||
| Q3 24 | 12.4% | -29.5% | ||
| Q2 24 | 11.6% | -8.3% | ||
| Q1 24 | 6.2% | -11.3% |
净利率DOCNPIII
| Q4 25 | 10.6% | -19.6% | ||
| Q3 25 | 69.0% | -9.1% | ||
| Q2 25 | 16.9% | -5.7% | ||
| Q1 25 | 18.1% | -5.5% | ||
| Q4 24 | 8.9% | -15.8% | ||
| Q3 24 | 16.6% | -12.8% | ||
| Q2 24 | 9.9% | -3.2% | ||
| Q1 24 | 7.7% | -4.8% |
每股收益（稀释后）DOCNPIII
| Q4 25 | $0.23 | $-23.08 | ||
| Q3 25 | $1.51 | $-9.67 | ||
| Q2 25 | $0.39 | $-6.23 | ||
| Q1 25 | $0.39 | $-6.28 | ||
| Q4 24 | $0.21 | $-23.13 | ||
| Q3 24 | $0.33 | $-15.70 | ||
| Q2 24 | $0.20 | $-7.37 | ||
| Q1 24 | $0.15 | $-7.86 |
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 | $25.0M |
| 总债务越低越好 | $1.3B | $228.4M |
| 股东权益账面价值 | $-28.7M | $-155.2M |
| 总资产 | $1.8B | $656.6M |
| 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DOCNPIII
| Q4 25 | $254.5M | $25.0M | ||
| Q3 25 | $236.6M | $37.7M | ||
| Q2 25 | $387.7M | $38.6M | ||
| Q1 25 | $360.4M | $40.1M | ||
| Q4 24 | $428.4M | $38.8M | ||
| Q3 24 | $439.9M | $63.0M | ||
| Q2 24 | $443.1M | $73.1M | ||
| Q1 24 | $419.1M | $27.3M |
总债务DOCNPIII
| Q4 25 | $1.3B | $228.4M | ||
| Q3 25 | $1.3B | $252.8M | ||
| Q2 25 | — | $182.0M | ||
| Q1 25 | — | $171.1M | ||
| Q4 24 | $1.5B | $108.9M | ||
| Q3 24 | — | $133.2M | ||
| Q2 24 | — | $133.1M | ||
| Q1 24 | — | $118.1M |
股东权益DOCNPIII
| Q4 25 | $-28.7M | $-155.2M | ||
| Q3 25 | $-69.6M | $-18.7M | ||
| Q2 25 | $-175.2M | $44.5M | ||
| Q1 25 | $-210.7M | $63.3M | ||
| Q4 24 | $-203.0M | $75.9M | ||
| Q3 24 | $-211.7M | $120.5M | ||
| Q2 24 | $-253.8M | $166.8M | ||
| Q1 24 | $-286.1M | $146.6M |
总资产DOCNPIII
| Q4 25 | $1.8B | $656.6M | ||
| Q3 25 | $1.7B | $683.6M | ||
| Q2 25 | $1.7B | $731.6M | ||
| Q1 25 | $1.6B | $783.9M | ||
| Q4 24 | $1.6B | $783.4M | ||
| Q3 24 | $1.5B | $833.3M | ||
| Q2 24 | $1.5B | $892.8M | ||
| Q1 24 | $1.5B | $855.9M |
负债/权益比DOCNPIII
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | — | 2.71× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.11× | ||
| Q2 24 | — | 0.80× | ||
| Q1 24 | — | 0.81× |
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 | $-25.7M |
| 自由现金流经营现金流 - 资本支出 | $31.1M | — |
| 自由现金流率自由现金流/营收 | 12.8% | — |
| 资本支出强度资本支出/营收 | 10.8% | — |
| 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DOCNPIII
| Q4 25 | $57.3M | $-25.7M | ||
| Q3 25 | $95.8M | $-15.4M | ||
| Q2 25 | $92.4M | $-16.6M | ||
| Q1 25 | $64.1M | $-33.5M | ||
| Q4 24 | $71.3M | $-57.2M | ||
| Q3 24 | $73.4M | $-22.6M | ||
| Q2 24 | $71.3M | $-10.2M | ||
| Q1 24 | $66.7M | $-20.0M |
自由现金流DOCNPIII
| Q4 25 | $31.1M | — | ||
| Q3 25 | $88.0M | — | ||
| Q2 25 | $59.3M | — | ||
| Q1 25 | $2.1M | — | ||
| Q4 24 | $26.1M | — | ||
| Q3 24 | $16.0M | — | ||
| Q2 24 | $39.5M | — | ||
| Q1 24 | $23.0M | — |
自由现金流率DOCNPIII
| Q4 25 | 12.8% | — | ||
| Q3 25 | 38.3% | — | ||
| Q2 25 | 27.1% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 12.7% | — | ||
| Q3 24 | 8.1% | — | ||
| Q2 24 | 20.5% | — | ||
| Q1 24 | 12.5% | — |
资本支出强度DOCNPIII
| Q4 25 | 10.8% | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 15.2% | — | ||
| Q1 25 | 29.4% | — | ||
| Q4 24 | 22.1% | 0.0% | ||
| Q3 24 | 28.9% | 0.0% | ||
| Q2 24 | 16.6% | 0.0% | ||
| Q1 24 | 23.6% | 0.0% |
现金转化率DOCNPIII
| 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% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
