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DigitalOcean Holdings, Inc.（DOCN）与再鼎医药（ZLAB）财务数据对比。点击上方公司名可切换其他公司
DigitalOcean Holdings, Inc.的季度营收约是再鼎医药的1.9倍（$242.4M vs $127.1M），DigitalOcean Holdings, Inc.同比增速更快（18.3% vs 17.1%），DigitalOcean Holdings, Inc.自由现金流更多（$31.1M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% 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。
再鼎医药是一家创新生物制药企业，专注于肿瘤、自身免疫性疾病、感染性疾病等领域创新疗法的研发、生产与商业化，核心市场覆盖大中华区，与全球多家头部生物科技企业合作，为存在未被满足医疗需求的患者提供治疗方案。
DOCN vs ZLAB — 直观对比
营收规模更大
DOCN
是对方的1.9倍
$127.1M
营收增速更快
DOCN
高出1.2%
17.1%
自由现金流更多
DOCN
多$57.8M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
14.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $242.4M | $127.1M |
| 净利润 | $25.7M | — |
| 毛利率 | 58.7% | 51.0% |
| 营业利润率 | 16.0% | -54.6% |
| 净利率 | 10.6% | — |
| 营收同比 | 18.3% | 17.1% |
| 净利润同比 | 40.5% | — |
| 每股收益（稀释后） | $0.23 | $-0.05 |
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DOCNZLAB
| Q4 25 | $242.4M | $127.1M | ||
| Q3 25 | $229.6M | $115.4M | ||
| Q2 25 | $218.7M | $109.1M | ||
| Q1 25 | $210.7M | $105.7M | ||
| Q4 24 | $204.9M | $108.5M | ||
| Q3 24 | $198.5M | $101.8M | ||
| Q2 24 | $192.5M | $100.1M | ||
| Q1 24 | $184.7M | $87.1M |
净利润DOCNZLAB
| Q4 25 | $25.7M | — | ||
| Q3 25 | $158.4M | $-36.0M | ||
| Q2 25 | $37.0M | $-40.7M | ||
| Q1 25 | $38.2M | $-48.4M | ||
| Q4 24 | $18.3M | — | ||
| Q3 24 | $32.9M | $-41.7M | ||
| Q2 24 | $19.1M | $-80.3M | ||
| Q1 24 | $14.1M | $-53.5M |
毛利率DOCNZLAB
| Q4 25 | 58.7% | 51.0% | ||
| Q3 25 | 59.6% | 59.5% | ||
| Q2 25 | 59.9% | 60.6% | ||
| Q1 25 | 61.4% | 63.6% | ||
| Q4 24 | 57.1% | 61.5% | ||
| Q3 24 | 60.2% | 64.1% | ||
| Q2 24 | 61.0% | 64.9% | ||
| Q1 24 | 60.7% | 61.4% |
营业利润率DOCNZLAB
| Q4 25 | 16.0% | -54.6% | ||
| Q3 25 | 19.6% | -42.3% | ||
| Q2 25 | 16.3% | -50.3% | ||
| Q1 25 | 17.9% | -53.3% | ||
| Q4 24 | 15.9% | -62.6% | ||
| Q3 24 | 12.4% | -66.6% | ||
| Q2 24 | 11.6% | -76.0% | ||
| Q1 24 | 6.2% | -80.7% |
净利率DOCNZLAB
| Q4 25 | 10.6% | — | ||
| Q3 25 | 69.0% | -31.2% | ||
| Q2 25 | 16.9% | -37.3% | ||
| Q1 25 | 18.1% | -45.8% | ||
| Q4 24 | 8.9% | — | ||
| Q3 24 | 16.6% | -40.9% | ||
| Q2 24 | 9.9% | -80.2% | ||
| Q1 24 | 7.7% | -61.4% |
每股收益（稀释后）DOCNZLAB
| Q4 25 | $0.23 | $-0.05 | ||
| Q3 25 | $1.51 | $-0.03 | ||
| Q2 25 | $0.39 | $-0.04 | ||
| Q1 25 | $0.39 | $-0.04 | ||
| Q4 24 | $0.21 | $-0.09 | ||
| Q3 24 | $0.33 | $-0.04 | ||
| Q2 24 | $0.20 | $-0.08 | ||
| 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 | $689.6M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $-28.7M | $715.5M |
| 总资产 | $1.8B | $1.2B |
| 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DOCNZLAB
| Q4 25 | $254.5M | $689.6M | ||
| Q3 25 | $236.6M | $717.2M | ||
| Q2 25 | $387.7M | $732.2M | ||
| Q1 25 | $360.4M | $757.3M | ||
| Q4 24 | $428.4M | $779.7M | ||
| Q3 24 | $439.9M | $616.1M | ||
| Q2 24 | $443.1M | $630.0M | ||
| Q1 24 | $419.1M | $650.8M |
总债务DOCNZLAB
| 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DOCNZLAB
| Q4 25 | $-28.7M | $715.5M | ||
| Q3 25 | $-69.6M | $759.9M | ||
| Q2 25 | $-175.2M | $791.7M | ||
| Q1 25 | $-210.7M | $810.8M | ||
| Q4 24 | $-203.0M | $840.9M | ||
| Q3 24 | $-211.7M | $667.7M | ||
| Q2 24 | $-253.8M | $704.2M | ||
| Q1 24 | $-286.1M | $762.2M |
总资产DOCNZLAB
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.6B | $1.2B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.5B | $985.3M | ||
| Q2 24 | $1.5B | $987.4M | ||
| Q1 24 | $1.5B | $988.4M |
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 | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $31.1M | $-26.7M |
| 自由现金流率自由现金流/营收 | 12.8% | -21.0% |
| 资本支出强度资本支出/营收 | 10.8% | 0.5% |
| 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 | $-158.9M |
8季度趋势，按日历期对齐
经营现金流DOCNZLAB
| Q4 25 | $57.3M | $-26.0M | ||
| Q3 25 | $95.8M | $-32.0M | ||
| Q2 25 | $92.4M | $-31.0M | ||
| Q1 25 | $64.1M | $-61.7M | ||
| Q4 24 | $71.3M | $-55.8M | ||
| Q3 24 | $73.4M | $-26.8M | ||
| Q2 24 | $71.3M | $-42.2M | ||
| Q1 24 | $66.7M | $-90.1M |
自由现金流DOCNZLAB
| Q4 25 | $31.1M | $-26.7M | ||
| Q3 25 | $88.0M | $-35.0M | ||
| Q2 25 | $59.3M | $-33.9M | ||
| Q1 25 | $2.1M | $-63.2M | ||
| Q4 24 | $26.1M | $-58.4M | ||
| Q3 24 | $16.0M | $-28.2M | ||
| Q2 24 | $39.5M | $-42.9M | ||
| Q1 24 | $23.0M | $-91.1M |
自由现金流率DOCNZLAB
| Q4 25 | 12.8% | -21.0% | ||
| Q3 25 | 38.3% | -30.4% | ||
| Q2 25 | 27.1% | -31.1% | ||
| Q1 25 | 1.0% | -59.9% | ||
| Q4 24 | 12.7% | -53.8% | ||
| Q3 24 | 8.1% | -27.7% | ||
| Q2 24 | 20.5% | -42.9% | ||
| Q1 24 | 12.5% | -104.5% |
资本支出强度DOCNZLAB
| Q4 25 | 10.8% | 0.5% | ||
| Q3 25 | 3.4% | 2.6% | ||
| Q2 25 | 15.2% | 2.6% | ||
| Q1 25 | 29.4% | 1.5% | ||
| Q4 24 | 22.1% | 2.4% | ||
| Q3 24 | 28.9% | 1.3% | ||
| Q2 24 | 16.6% | 0.7% | ||
| Q1 24 | 23.6% | 1.1% |
现金转化率DOCNZLAB
| 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% |
ZLAB
| Zejula | $56.0M | 44% |
| Other | $21.9M | 17% |
| Nuzyra | $16.0M | 13% |
| Optune | $11.9M | 9% |
| XACDURO | $10.7M | 8% |
| Qinlock | $9.7M | 8% |
| AUGTYRO | $836.0K | 1% |
