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DigitalOcean Holdings, Inc.（DOCN）与Cactus, Inc.（WHD）财务数据对比。点击上方公司名可切换其他公司
Cactus, Inc.的季度营收约是DigitalOcean Holdings, Inc.的1.6倍（$388.3M vs $242.4M），DigitalOcean Holdings, Inc.净利率更高（10.6% vs 10.4%，领先0.2%），Cactus, Inc.同比增速更快（38.5% vs 18.3%），过去两年Cactus, Inc.的营收复合增速更高（15.6% vs 14.5%）
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。
Cactus, Inc.旗下拥有Cactus Club Cafe，是源自加拿大不列颠哥伦比亚省北温哥华的高端休闲连锁餐饮品牌。目前品牌已在加拿大全境布局34家门店，覆盖不列颠哥伦比亚、阿尔伯塔、萨斯喀彻温、安大略等省份，同时在美国也设有门店，主打高品质休闲餐饮体验。
DOCN vs WHD — 直观对比
营收规模更大
WHD
是对方的1.6倍
$242.4M
营收增速更快
WHD
高出20.3%
18.3%
净利率更高
DOCN
高出0.2%
10.4%
两年增速更快
WHD
近两年复合增速
14.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $242.4M | $388.3M |
| 净利润 | $25.7M | $40.2M |
| 毛利率 | 58.7% | — |
| 营业利润率 | 16.0% | 9.9% |
| 净利率 | 10.6% | 10.4% |
| 营收同比 | 18.3% | 38.5% |
| 净利润同比 | 40.5% | -25.7% |
| 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DOCNWHD
| Q1 26 | — | $388.3M | ||
| Q4 25 | $242.4M | $261.2M | ||
| Q3 25 | $229.6M | $264.0M | ||
| Q2 25 | $218.7M | $273.6M | ||
| Q1 25 | $210.7M | $280.3M | ||
| Q4 24 | $204.9M | $272.1M | ||
| Q3 24 | $198.5M | $293.2M | ||
| Q2 24 | $192.5M | $290.4M |
净利润DOCNWHD
| Q1 26 | — | $40.2M | ||
| Q4 25 | $25.7M | $39.8M | ||
| Q3 25 | $158.4M | $41.6M | ||
| Q2 25 | $37.0M | $40.3M | ||
| Q1 25 | $38.2M | $44.2M | ||
| Q4 24 | $18.3M | $46.7M | ||
| Q3 24 | $32.9M | $49.9M | ||
| Q2 24 | $19.1M | $49.8M |
毛利率DOCNWHD
| Q1 26 | — | — | ||
| Q4 25 | 58.7% | 36.2% | ||
| Q3 25 | 59.6% | 36.8% | ||
| Q2 25 | 59.9% | 36.6% | ||
| Q1 25 | 61.4% | 38.4% | ||
| Q4 24 | 57.1% | 37.8% | ||
| Q3 24 | 60.2% | 39.0% | ||
| Q2 24 | 61.0% | 39.2% |
营业利润率DOCNWHD
| Q1 26 | — | 9.9% | ||
| Q4 25 | 16.0% | 22.9% | ||
| Q3 25 | 19.6% | 23.2% | ||
| Q2 25 | 16.3% | 22.2% | ||
| Q1 25 | 17.9% | 24.5% | ||
| Q4 24 | 15.9% | 25.9% | ||
| Q3 24 | 12.4% | 26.2% | ||
| Q2 24 | 11.6% | 27.5% |
净利率DOCNWHD
| Q1 26 | — | 10.4% | ||
| Q4 25 | 10.6% | 15.3% | ||
| Q3 25 | 69.0% | 15.8% | ||
| Q2 25 | 16.9% | 14.7% | ||
| Q1 25 | 18.1% | 15.8% | ||
| Q4 24 | 8.9% | 17.2% | ||
| Q3 24 | 16.6% | 17.0% | ||
| Q2 24 | 9.9% | 17.2% |
每股收益（稀释后）DOCNWHD
| Q1 26 | — | — | ||
| 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 | — |
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 | $291.6M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $-28.7M | $1.4B |
| 总资产 | $1.8B | $2.5B |
| 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DOCNWHD
| Q1 26 | — | $291.6M | ||
| Q4 25 | $254.5M | $123.6M | ||
| Q3 25 | $236.6M | $445.6M | ||
| Q2 25 | $387.7M | $405.2M | ||
| Q1 25 | $360.4M | $347.7M | ||
| Q4 24 | $428.4M | $342.8M | ||
| Q3 24 | $439.9M | $303.4M | ||
| Q2 24 | $443.1M | $246.5M |
总债务DOCNWHD
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $0 | ||
| Q3 25 | $1.3B | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | $1.5B | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 |
股东权益DOCNWHD
| Q1 26 | — | $1.4B | ||
| Q4 25 | $-28.7M | $1.2B | ||
| Q3 25 | $-69.6M | $1.2B | ||
| Q2 25 | $-175.2M | $1.1B | ||
| Q1 25 | $-210.7M | $1.1B | ||
| Q4 24 | $-203.0M | $1.1B | ||
| Q3 24 | $-211.7M | $1.0B | ||
| Q2 24 | $-253.8M | $954.7M |
总资产DOCNWHD
| Q1 26 | — | $2.5B | ||
| Q4 25 | $1.8B | $1.9B | ||
| Q3 25 | $1.7B | $1.9B | ||
| Q2 25 | $1.7B | $1.8B | ||
| Q1 25 | $1.6B | $1.8B | ||
| Q4 24 | $1.6B | $1.7B | ||
| Q3 24 | $1.5B | $1.7B | ||
| Q2 24 | $1.5B | $1.6B |
负债/权益比DOCNWHD
| Q1 26 | — | — | ||
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× |
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 | $128.3M |
| 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% | 2.5% |
| 现金转化率经营现金流/净利润 | 2.23× | 3.19× |
| 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DOCNWHD
| Q1 26 | — | $128.3M | ||
| Q4 25 | $57.3M | $72.3M | ||
| Q3 25 | $95.8M | $61.8M | ||
| Q2 25 | $92.4M | $82.8M | ||
| Q1 25 | $64.1M | $41.5M | ||
| Q4 24 | $71.3M | $66.6M | ||
| Q3 24 | $73.4M | $85.3M | ||
| Q2 24 | $71.3M | $78.0M |
自由现金流DOCNWHD
| Q1 26 | — | — | ||
| 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 | — |
自由现金流率DOCNWHD
| Q1 26 | — | — | ||
| 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% | — |
资本支出强度DOCNWHD
| Q1 26 | — | 2.5% | ||
| 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% | — |
现金转化率DOCNWHD
| Q1 26 | — | 3.19× | ||
| Q4 25 | 2.23× | 1.81× | ||
| Q3 25 | 0.60× | 1.48× | ||
| Q2 25 | 2.50× | 2.05× | ||
| Q1 25 | 1.68× | 0.94× | ||
| Q4 24 | 3.91× | 1.43× | ||
| Q3 24 | 2.23× | 1.71× | ||
| Q2 24 | 3.73× | 1.56× |
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% |
WHD
| Revenue | $300.2M | 77% |
| Other | $88.2M | 23% |
