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DigitalOcean Holdings, Inc.（DOCN）与INNOVATE Corp.（VATE）财务数据对比。点击上方公司名可切换其他公司
INNOVATE Corp.的季度营收约是DigitalOcean Holdings, Inc.的1.6倍（$382.7M vs $242.4M），DigitalOcean Holdings, Inc.净利率更高（10.6% vs -1.9%，领先12.5%），INNOVATE Corp.同比增速更快（61.7% vs 18.3%），过去两年DigitalOcean Holdings, Inc.的营收复合增速更高（14.5% vs 10.2%）
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。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
DOCN vs VATE — 直观对比
营收规模更大
VATE
是对方的1.6倍
$242.4M
营收增速更快
VATE
高出43.5%
18.3%
净利率更高
DOCN
高出12.5%
-1.9%
两年增速更快
DOCN
近两年复合增速
10.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $242.4M | $382.7M |
| 净利润 | $25.7M | $-7.4M |
| 毛利率 | 58.7% | 15.4% |
| 营业利润率 | 16.0% | 3.7% |
| 净利率 | 10.6% | -1.9% |
| 营收同比 | 18.3% | 61.7% |
| 净利润同比 | 40.5% | 55.4% |
| 每股收益（稀释后） | $0.23 | $-0.57 |
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DOCNVATE
| Q4 25 | $242.4M | $382.7M | ||
| Q3 25 | $229.6M | $347.1M | ||
| Q2 25 | $218.7M | $242.0M | ||
| Q1 25 | $210.7M | $274.2M | ||
| Q4 24 | $204.9M | $236.6M | ||
| Q3 24 | $198.5M | $242.2M | ||
| Q2 24 | $192.5M | $313.1M | ||
| Q1 24 | $184.7M | $315.2M |
净利润DOCNVATE
| Q4 25 | $25.7M | $-7.4M | ||
| Q3 25 | $158.4M | $-8.9M | ||
| Q2 25 | $37.0M | $-19.8M | ||
| Q1 25 | $38.2M | $-24.5M | ||
| Q4 24 | $18.3M | $-16.6M | ||
| Q3 24 | $32.9M | $-15.0M | ||
| Q2 24 | $19.1M | $14.4M | ||
| Q1 24 | $14.1M | $-17.4M |
毛利率DOCNVATE
| Q4 25 | 58.7% | 15.4% | ||
| Q3 25 | 59.6% | 14.3% | ||
| Q2 25 | 59.9% | 18.8% | ||
| Q1 25 | 61.4% | 16.6% | ||
| Q4 24 | 57.1% | 19.6% | ||
| Q3 24 | 60.2% | 19.9% | ||
| Q2 24 | 61.0% | 21.0% | ||
| Q1 24 | 60.7% | 15.4% |
营业利润率DOCNVATE
| Q4 25 | 16.0% | 3.7% | ||
| Q3 25 | 19.6% | 1.8% | ||
| Q2 25 | 16.3% | 2.0% | ||
| Q1 25 | 17.9% | 1.2% | ||
| Q4 24 | 15.9% | 1.1% | ||
| Q3 24 | 12.4% | 2.4% | ||
| Q2 24 | 11.6% | 9.2% | ||
| Q1 24 | 6.2% | 0.9% |
净利率DOCNVATE
| Q4 25 | 10.6% | -1.9% | ||
| Q3 25 | 69.0% | -2.6% | ||
| Q2 25 | 16.9% | -8.2% | ||
| Q1 25 | 18.1% | -8.9% | ||
| Q4 24 | 8.9% | -7.0% | ||
| Q3 24 | 16.6% | -6.2% | ||
| Q2 24 | 9.9% | 4.6% | ||
| Q1 24 | 7.7% | -5.5% |
每股收益（稀释后）DOCNVATE
| Q4 25 | $0.23 | $-0.57 | ||
| Q3 25 | $1.51 | $-0.71 | ||
| Q2 25 | $0.39 | $-1.67 | ||
| Q1 25 | $0.39 | $-1.89 | ||
| Q4 24 | $0.21 | $-0.72 | ||
| Q3 24 | $0.33 | $-1.18 | ||
| Q2 24 | $0.20 | $1.03 | ||
| Q1 24 | $0.15 | $-2.21 |
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 | $112.1M |
| 总债务越低越好 | $1.3B | $80.3M |
| 股东权益账面价值 | $-28.7M | $-240.1M |
| 总资产 | $1.8B | $950.1M |
| 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DOCNVATE
| Q4 25 | $254.5M | $112.1M | ||
| Q3 25 | $236.6M | $35.5M | ||
| Q2 25 | $387.7M | $33.4M | ||
| Q1 25 | $360.4M | $33.3M | ||
| Q4 24 | $428.4M | $48.8M | ||
| Q3 24 | $439.9M | $51.0M | ||
| Q2 24 | $443.1M | $80.2M | ||
| Q1 24 | $419.1M | $38.4M |
总债务DOCNVATE
| Q4 25 | $1.3B | $80.3M | ||
| Q3 25 | $1.3B | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | $1.5B | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
股东权益DOCNVATE
| Q4 25 | $-28.7M | $-240.1M | ||
| Q3 25 | $-69.6M | $-233.3M | ||
| Q2 25 | $-175.2M | $-224.8M | ||
| Q1 25 | $-210.7M | $-204.2M | ||
| Q4 24 | $-203.0M | $-180.4M | ||
| Q3 24 | $-211.7M | $-163.1M | ||
| Q2 24 | $-253.8M | $-149.0M | ||
| Q1 24 | $-286.1M | $-184.4M |
总资产DOCNVATE
| Q4 25 | $1.8B | $950.1M | ||
| Q3 25 | $1.7B | $913.2M | ||
| Q2 25 | $1.7B | $890.9M | ||
| Q1 25 | $1.6B | $868.0M | ||
| Q4 24 | $1.6B | $891.1M | ||
| Q3 24 | $1.5B | $897.2M | ||
| Q2 24 | $1.5B | $898.9M | ||
| Q1 24 | $1.5B | $943.5M |
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 | $101.1M |
| 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DOCNVATE
| Q4 25 | $57.3M | $101.1M | ||
| Q3 25 | $95.8M | $19.2M | ||
| Q2 25 | $92.4M | $40.4M | ||
| Q1 25 | $64.1M | $-14.1M | ||
| Q4 24 | $71.3M | $41.4M | ||
| Q3 24 | $73.4M | $-28.4M | ||
| Q2 24 | $71.3M | $21.5M | ||
| Q1 24 | $66.7M | $-25.4M |
自由现金流DOCNVATE
| Q4 25 | $31.1M | — | ||
| Q3 25 | $88.0M | $19.0M | ||
| Q2 25 | $59.3M | — | ||
| Q1 25 | $2.1M | $-18.8M | ||
| Q4 24 | $26.1M | $34.2M | ||
| Q3 24 | $16.0M | $-31.5M | ||
| Q2 24 | $39.5M | $18.4M | ||
| Q1 24 | $23.0M | $-31.0M |
自由现金流率DOCNVATE
| Q4 25 | 12.8% | — | ||
| Q3 25 | 38.3% | 5.5% | ||
| Q2 25 | 27.1% | — | ||
| Q1 25 | 1.0% | -6.9% | ||
| Q4 24 | 12.7% | 14.5% | ||
| Q3 24 | 8.1% | -13.0% | ||
| Q2 24 | 20.5% | 5.9% | ||
| Q1 24 | 12.5% | -9.8% |
资本支出强度DOCNVATE
| Q4 25 | 10.8% | — | ||
| Q3 25 | 3.4% | 0.1% | ||
| Q2 25 | 15.2% | — | ||
| Q1 25 | 29.4% | 1.7% | ||
| Q4 24 | 22.1% | 3.0% | ||
| Q3 24 | 28.9% | 1.3% | ||
| Q2 24 | 16.6% | 1.0% | ||
| Q1 24 | 23.6% | 1.8% |
现金转化率DOCNVATE
| 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× | 1.49× | ||
| 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% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
