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DigitalOcean Holdings, Inc.（DOCN）与Zscaler, Inc.（ZS）财务数据对比。点击上方公司名可切换其他公司
Zscaler, Inc.的季度营收约是DigitalOcean Holdings, Inc.的3.3倍（$788.1M vs $242.4M），DigitalOcean Holdings, Inc.净利率更高（10.6% vs -1.5%，领先12.1%），Zscaler, Inc.同比增速更快（25.5% vs 18.3%），Zscaler, Inc.自由现金流更多（$431.0M vs $31.1M），过去两年Zscaler, Inc.的营收复合增速更高（22.5% 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。
Zscaler是总部位于美国加利福尼亚州圣何塞的云安全企业，专注提供云原生安全服务，为全球各行业企业的网络系统与数据资产提供全方位防护，助力企业在数字化运营过程中抵御各类安全风险，保障业务稳定开展。
DOCN vs ZS — 直观对比
营收规模更大
ZS
是对方的3.3倍
$242.4M
营收增速更快
ZS
高出7.2%
18.3%
净利率更高
DOCN
高出12.1%
-1.5%
自由现金流更多
ZS
多$399.8M
$31.1M
两年增速更快
ZS
近两年复合增速
14.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $242.4M | $788.1M |
| 净利润 | $25.7M | $-11.6M |
| 毛利率 | 58.7% | 76.6% |
| 营业利润率 | 16.0% | -4.6% |
| 净利率 | 10.6% | -1.5% |
| 营收同比 | 18.3% | 25.5% |
| 净利润同比 | 40.5% | 3.6% |
| 每股收益（稀释后） | $0.23 | $-0.07 |
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DOCNZS
| Q4 25 | $242.4M | $788.1M | ||
| Q3 25 | $229.6M | $719.2M | ||
| Q2 25 | $218.7M | $678.0M | ||
| Q1 25 | $210.7M | $647.9M | ||
| Q4 24 | $204.9M | $628.0M | ||
| Q3 24 | $198.5M | $592.9M | ||
| Q2 24 | $192.5M | $553.2M | ||
| Q1 24 | $184.7M | $525.0M |
净利润DOCNZS
| Q4 25 | $25.7M | $-11.6M | ||
| Q3 25 | $158.4M | $-17.6M | ||
| Q2 25 | $37.0M | $-4.1M | ||
| Q1 25 | $38.2M | $-7.7M | ||
| Q4 24 | $18.3M | $-12.1M | ||
| Q3 24 | $32.9M | $-14.9M | ||
| Q2 24 | $19.1M | $19.1M | ||
| Q1 24 | $14.1M | $-28.5M |
毛利率DOCNZS
| Q4 25 | 58.7% | 76.6% | ||
| Q3 25 | 59.6% | 76.1% | ||
| Q2 25 | 59.9% | 77.0% | ||
| Q1 25 | 61.4% | 77.1% | ||
| Q4 24 | 57.1% | 77.5% | ||
| Q3 24 | 60.2% | 78.0% | ||
| Q2 24 | 61.0% | 78.6% | ||
| Q1 24 | 60.7% | 77.7% |
营业利润率DOCNZS
| Q4 25 | 16.0% | -4.6% | ||
| Q3 25 | 19.6% | -4.5% | ||
| Q2 25 | 16.3% | -3.7% | ||
| Q1 25 | 17.9% | -6.2% | ||
| Q4 24 | 15.9% | -4.9% | ||
| Q3 24 | 12.4% | -4.5% | ||
| Q2 24 | 11.6% | -0.5% | ||
| Q1 24 | 6.2% | -8.7% |
净利率DOCNZS
| Q4 25 | 10.6% | -1.5% | ||
| Q3 25 | 69.0% | -2.4% | ||
| Q2 25 | 16.9% | -0.6% | ||
| Q1 25 | 18.1% | -1.2% | ||
| Q4 24 | 8.9% | -1.9% | ||
| Q3 24 | 16.6% | -2.5% | ||
| Q2 24 | 9.9% | 3.5% | ||
| Q1 24 | 7.7% | -5.4% |
每股收益（稀释后）DOCNZS
| Q4 25 | $0.23 | $-0.07 | ||
| Q3 25 | $1.51 | $-0.11 | ||
| Q2 25 | $0.39 | $-0.03 | ||
| Q1 25 | $0.39 | $-0.05 | ||
| Q4 24 | $0.21 | $-0.08 | ||
| Q3 24 | $0.33 | $-0.09 | ||
| Q2 24 | $0.20 | $0.12 | ||
| Q1 24 | $0.15 | $-0.19 |
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 | $1.3B |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $-28.7M | $2.0B |
| 总资产 | $1.8B | $6.5B |
| 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DOCNZS
| Q4 25 | $254.5M | $1.3B | ||
| Q3 25 | $236.6M | $2.4B | ||
| Q2 25 | $387.7M | $2.0B | ||
| Q1 25 | $360.4M | $1.8B | ||
| Q4 24 | $428.4M | $1.6B | ||
| Q3 24 | $439.9M | $1.4B | ||
| Q2 24 | $443.1M | $1.3B | ||
| Q1 24 | $419.1M | $1.4B |
总债务DOCNZS
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $1.5B | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
股东权益DOCNZS
| Q4 25 | $-28.7M | $2.0B | ||
| Q3 25 | $-69.6M | $1.8B | ||
| Q2 25 | $-175.2M | $1.8B | ||
| Q1 25 | $-210.7M | $1.6B | ||
| Q4 24 | $-203.0M | $1.4B | ||
| Q3 24 | $-211.7M | $1.3B | ||
| Q2 24 | $-253.8M | $1.1B | ||
| Q1 24 | $-286.1M | $958.9M |
总资产DOCNZS
| Q4 25 | $1.8B | $6.5B | ||
| Q3 25 | $1.7B | $6.4B | ||
| Q2 25 | $1.7B | $5.3B | ||
| Q1 25 | $1.6B | $5.0B | ||
| Q4 24 | $1.6B | $4.7B | ||
| Q3 24 | $1.5B | $4.7B | ||
| Q2 24 | $1.5B | $4.2B | ||
| Q1 24 | $1.5B | $3.9B |
负债/权益比DOCNZS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 1.19× |
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 | $448.3M |
| 自由现金流经营现金流 - 资本支出 | $31.1M | $431.0M |
| 自由现金流率自由现金流/营收 | 12.8% | 54.7% |
| 资本支出强度资本支出/营收 | 10.8% | 2.2% |
| 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 | $924.9M |
8季度趋势，按日历期对齐
经营现金流DOCNZS
| Q4 25 | $57.3M | $448.3M | ||
| Q3 25 | $95.8M | $250.6M | ||
| Q2 25 | $92.4M | $211.1M | ||
| Q1 25 | $64.1M | $179.4M | ||
| Q4 24 | $71.3M | $331.3M | ||
| Q3 24 | $73.4M | $203.6M | ||
| Q2 24 | $71.3M | $173.4M | ||
| Q1 24 | $66.7M | $142.1M |
自由现金流DOCNZS
| Q4 25 | $31.1M | $431.0M | ||
| Q3 25 | $88.0M | $190.6M | ||
| Q2 25 | $59.3M | $138.9M | ||
| Q1 25 | $2.1M | $164.4M | ||
| Q4 24 | $26.1M | $314.3M | ||
| Q3 24 | $16.0M | $154.2M | ||
| Q2 24 | $39.5M | $137.8M | ||
| Q1 24 | $23.0M | $111.2M |
自由现金流率DOCNZS
| Q4 25 | 12.8% | 54.7% | ||
| Q3 25 | 38.3% | 26.5% | ||
| Q2 25 | 27.1% | 20.5% | ||
| Q1 25 | 1.0% | 25.4% | ||
| Q4 24 | 12.7% | 50.1% | ||
| Q3 24 | 8.1% | 26.0% | ||
| Q2 24 | 20.5% | 24.9% | ||
| Q1 24 | 12.5% | 21.2% |
资本支出强度DOCNZS
| Q4 25 | 10.8% | 2.2% | ||
| Q3 25 | 3.4% | 8.3% | ||
| Q2 25 | 15.2% | 10.6% | ||
| Q1 25 | 29.4% | 2.3% | ||
| Q4 24 | 22.1% | 2.7% | ||
| Q3 24 | 28.9% | 8.3% | ||
| Q2 24 | 16.6% | 6.4% | ||
| Q1 24 | 23.6% | 5.9% |
现金转化率DOCNZS
| 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× | 9.07× | ||
| 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% |
ZS
暂无分部数据
