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DigitalOcean Holdings, Inc.（DOCN）与VORNADO REALTY TRUST（VNO）财务数据对比。点击上方公司名可切换其他公司
VORNADO REALTY TRUST的季度营收约是DigitalOcean Holdings, Inc.的1.9倍（$453.7M vs $242.4M），DigitalOcean Holdings, Inc.净利率更高（10.6% vs 1.1%，领先9.5%），DigitalOcean Holdings, Inc.同比增速更快（18.3% vs -0.9%），过去两年DigitalOcean Holdings, Inc.的营收复合增速更高（14.5% vs 2.0%）
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。
Vornado Realty Trust是1982年于美国马里兰州注册成立的房地产投资信托，总部设立在纽约市，核心业务为投资曼哈顿核心区域的优质写字楼及临街零售商业地产，是纽约当地颇具影响力的商业地产投资运营机构。
DOCN vs VNO — 直观对比
营收规模更大
VNO
是对方的1.9倍
$242.4M
营收增速更快
DOCN
高出19.2%
-0.9%
净利率更高
DOCN
高出9.5%
1.1%
两年增速更快
DOCN
近两年复合增速
2.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $242.4M | $453.7M |
| 净利润 | $25.7M | $4.9M |
| 毛利率 | 58.7% | — |
| 营业利润率 | 16.0% | 2.8% |
| 净利率 | 10.6% | 1.1% |
| 营收同比 | 18.3% | -0.9% |
| 净利润同比 | 40.5% | -14.7% |
| 每股收益（稀释后） | $0.23 | $0.01 |
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DOCNVNO
| Q4 25 | $242.4M | $453.7M | ||
| Q3 25 | $229.6M | $453.7M | ||
| Q2 25 | $218.7M | $441.4M | ||
| Q1 25 | $210.7M | $461.6M | ||
| Q4 24 | $204.9M | $457.8M | ||
| Q3 24 | $198.5M | $443.3M | ||
| Q2 24 | $192.5M | $450.3M | ||
| Q1 24 | $184.7M | $436.4M |
净利润DOCNVNO
| Q4 25 | $25.7M | $4.9M | ||
| Q3 25 | $158.4M | $27.1M | ||
| Q2 25 | $37.0M | $759.3M | ||
| Q1 25 | $38.2M | $102.4M | ||
| Q4 24 | $18.3M | $5.8M | ||
| Q3 24 | $32.9M | $-3.6M | ||
| Q2 24 | $19.1M | $50.8M | ||
| Q1 24 | $14.1M | $6.5M |
毛利率DOCNVNO
| 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DOCNVNO
| Q4 25 | 16.0% | 2.8% | ||
| Q3 25 | 19.6% | 3.0% | ||
| Q2 25 | 16.3% | — | ||
| Q1 25 | 17.9% | 23.2% | ||
| Q4 24 | 15.9% | 2.5% | ||
| Q3 24 | 12.4% | -3.3% | ||
| Q2 24 | 11.6% | 10.1% | ||
| Q1 24 | 6.2% | 0.1% |
净利率DOCNVNO
| Q4 25 | 10.6% | 1.1% | ||
| Q3 25 | 69.0% | 6.0% | ||
| Q2 25 | 16.9% | 172.0% | ||
| Q1 25 | 18.1% | 22.2% | ||
| Q4 24 | 8.9% | 1.3% | ||
| Q3 24 | 16.6% | -0.8% | ||
| Q2 24 | 9.9% | 11.3% | ||
| Q1 24 | 7.7% | 1.5% |
每股收益（稀释后）DOCNVNO
| Q4 25 | $0.23 | $0.01 | ||
| Q3 25 | $1.51 | $0.06 | ||
| Q2 25 | $0.39 | $3.70 | ||
| Q1 25 | $0.39 | $0.43 | ||
| Q4 24 | $0.21 | $0.01 | ||
| Q3 24 | $0.33 | $-0.10 | ||
| Q2 24 | $0.20 | $0.18 | ||
| Q1 24 | $0.15 | $-0.05 |
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 | $840.9M |
| 总债务越低越好 | $1.3B | $2.3B |
| 股东权益账面价值 | $-28.7M | $6.0B |
| 总资产 | $1.8B | $15.5B |
| 负债/权益比越低杠杆越低 | — | 0.38× |
8季度趋势，按日历期对齐
现金及短期投资DOCNVNO
| Q4 25 | $254.5M | $840.9M | ||
| Q3 25 | $236.6M | $1.0B | ||
| Q2 25 | $387.7M | $1.2B | ||
| Q1 25 | $360.4M | $568.9M | ||
| Q4 24 | $428.4M | $733.9M | ||
| Q3 24 | $439.9M | $783.6M | ||
| Q2 24 | $443.1M | $872.6M | ||
| Q1 24 | $419.1M | $892.7M |
总债务DOCNVNO
| Q4 25 | $1.3B | $2.3B | ||
| Q3 25 | $1.3B | $2.3B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | $1.5B | $2.6B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | — | $2.6B |
股东权益DOCNVNO
| Q4 25 | $-28.7M | $6.0B | ||
| Q3 25 | $-69.6M | $6.1B | ||
| Q2 25 | $-175.2M | $6.1B | ||
| Q1 25 | $-210.7M | $5.3B | ||
| Q4 24 | $-203.0M | $5.2B | ||
| Q3 24 | $-211.7M | $5.3B | ||
| Q2 24 | $-253.8M | $5.6B | ||
| Q1 24 | $-286.1M | $5.5B |
总资产DOCNVNO
| Q4 25 | $1.8B | $15.5B | ||
| Q3 25 | $1.7B | $15.7B | ||
| Q2 25 | $1.7B | $15.6B | ||
| Q1 25 | $1.6B | $15.6B | ||
| Q4 24 | $1.6B | $16.0B | ||
| Q3 24 | $1.5B | $16.1B | ||
| Q2 24 | $1.5B | $16.2B | ||
| Q1 24 | $1.5B | $16.2B |
负债/权益比DOCNVNO
| Q4 25 | — | 0.38× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.46× | ||
| Q1 24 | — | 0.46× |
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 | $1.3B |
| 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× | 256.08× |
| 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DOCNVNO
| Q4 25 | $57.3M | $1.3B | ||
| Q3 25 | $95.8M | $33.2M | ||
| Q2 25 | $92.4M | $1.0B | ||
| Q1 25 | $64.1M | $52.0M | ||
| Q4 24 | $71.3M | $537.7M | ||
| Q3 24 | $73.4M | $105.4M | ||
| Q2 24 | $71.3M | $194.7M | ||
| Q1 24 | $66.7M | $31.5M |
自由现金流DOCNVNO
| 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DOCNVNO
| 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DOCNVNO
| Q4 25 | 10.8% | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 15.2% | — | ||
| Q1 25 | 29.4% | — | ||
| Q4 24 | 22.1% | — | ||
| Q3 24 | 28.9% | — | ||
| Q2 24 | 16.6% | — | ||
| Q1 24 | 23.6% | — |
现金转化率DOCNVNO
| Q4 25 | 2.23× | 256.08× | ||
| Q3 25 | 0.60× | 1.22× | ||
| Q2 25 | 2.50× | 1.35× | ||
| Q1 25 | 1.68× | 0.51× | ||
| Q4 24 | 3.91× | 93.39× | ||
| Q3 24 | 2.23× | — | ||
| Q2 24 | 3.73× | 3.83× | ||
| Q1 24 | 4.72× | 4.85× |
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% |
VNO
| New York Segment | $374.8M | 83% |
| Building Maintenance Service | $41.2M | 9% |
| Other | $27.7M | 6% |
| Tenant Services | $11.1M | 2% |
| Management And Leasing Fees | $2.6M | 1% |
