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Doximity, Inc.（DOCS）与TheRealReal, Inc.（REAL）财务数据对比。点击上方公司名可切换其他公司
TheRealReal, Inc.的季度营收约是Doximity, Inc.的1.0倍（$194.1M vs $185.1M），TheRealReal, Inc.同比增速更快（18.3% vs 9.8%），过去两年Doximity, Inc.的营收复合增速更高（25.2% vs 16.2%）
Doximity Inc成立于2010年，是面向医疗专业人士的线上社交服务平台，为平台会员提供精选医疗资讯、远程医疗工具，以及病例协作相关功能，助力医疗从业者高效交流信息、开展诊疗相关工作。
TheRealReal是专业的奢侈品线上交易平台，所有在售商品均经过专业人员鉴定，可满足用户买卖二手奢侈品的需求。截至2023年9月30日，平台会员规模已超3800万，累计售出商品近4000万件。
DOCS vs REAL — 直观对比
营收规模更大
REAL
是对方的1.0倍
$185.1M
营收增速更快
REAL
高出8.6%
9.8%
两年增速更快
DOCS
近两年复合增速
16.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $185.1M | $194.1M |
| 净利润 | $61.6M | — |
| 毛利率 | 89.9% | 74.8% |
| 营业利润率 | 38.9% | 3.2% |
| 净利率 | 33.3% | — |
| 营收同比 | 9.8% | 18.3% |
| 净利润同比 | -18.1% | — |
| 每股收益（稀释后） | $0.31 | $0.06 |
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DOCSREAL
| Q4 25 | $185.1M | $194.1M | ||
| Q3 25 | $168.5M | $173.6M | ||
| Q2 25 | $145.9M | $165.2M | ||
| Q1 25 | $138.3M | $160.0M | ||
| Q4 24 | $168.6M | $164.0M | ||
| Q3 24 | $136.8M | $147.8M | ||
| Q2 24 | $126.7M | $144.9M | ||
| Q1 24 | $118.1M | $143.8M |
净利润DOCSREAL
| Q4 25 | $61.6M | — | ||
| Q3 25 | $62.1M | $-54.1M | ||
| Q2 25 | $53.3M | $-11.4M | ||
| Q1 25 | $62.5M | $62.4M | ||
| Q4 24 | $75.2M | — | ||
| Q3 24 | $44.2M | $-17.9M | ||
| Q2 24 | $41.4M | $-16.7M | ||
| Q1 24 | $40.6M | $-31.1M |
毛利率DOCSREAL
| Q4 25 | 89.9% | 74.8% | ||
| Q3 25 | 90.3% | 74.3% | ||
| Q2 25 | 89.2% | 74.3% | ||
| Q1 25 | 89.5% | 75.0% | ||
| Q4 24 | 91.6% | 74.4% | ||
| Q3 24 | 90.0% | 74.9% | ||
| Q2 24 | 89.3% | 74.1% | ||
| Q1 24 | 89.4% | 74.6% |
营业利润率DOCSREAL
| Q4 25 | 38.9% | 3.2% | ||
| Q3 25 | 37.8% | -4.3% | ||
| Q2 25 | 37.4% | -6.0% | ||
| Q1 25 | 35.2% | -8.0% | ||
| Q4 24 | 47.4% | -3.1% | ||
| Q3 24 | 38.8% | -9.9% | ||
| Q2 24 | 36.4% | -13.0% | ||
| Q1 24 | 35.5% | -12.5% |
净利率DOCSREAL
| Q4 25 | 33.3% | — | ||
| Q3 25 | 36.8% | -31.1% | ||
| Q2 25 | 36.5% | -6.9% | ||
| Q1 25 | 45.2% | 39.0% | ||
| Q4 24 | 44.6% | — | ||
| Q3 24 | 32.3% | -12.1% | ||
| Q2 24 | 32.7% | -11.5% | ||
| Q1 24 | 34.4% | -21.6% |
每股收益（稀释后）DOCSREAL
| Q4 25 | $0.31 | $0.06 | ||
| Q3 25 | $0.31 | $-0.49 | ||
| Q2 25 | $0.27 | $-0.13 | ||
| Q1 25 | $0.31 | $-0.14 | ||
| Q4 24 | $0.37 | $-0.57 | ||
| Q3 24 | $0.22 | $-0.17 | ||
| Q2 24 | $0.21 | $-0.20 | ||
| Q1 24 | $0.20 | $-0.30 |
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 | $64.8M | $151.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $979.3M | $-415.5M |
| 总资产 | $1.2B | $409.0M |
| 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DOCSREAL
| Q4 25 | $64.8M | $151.2M | ||
| Q3 25 | $169.2M | $108.4M | ||
| Q2 25 | $137.3M | $94.3M | ||
| Q1 25 | $209.6M | $139.6M | ||
| Q4 24 | $165.3M | $172.2M | ||
| Q3 24 | $184.2M | $153.2M | ||
| Q2 24 | $111.4M | $150.7M | ||
| Q1 24 | $96.8M | $166.0M |
股东权益DOCSREAL
| Q4 25 | $979.3M | $-415.5M | ||
| Q3 25 | $1.1B | $-385.1M | ||
| Q2 25 | $1.0B | $-338.2M | ||
| Q1 25 | $1.1B | $-336.1M | ||
| Q4 24 | $1.0B | $-407.4M | ||
| Q3 24 | $961.2M | $-345.4M | ||
| Q2 24 | $913.6M | $-335.3M | ||
| Q1 24 | $901.4M | $-327.1M |
总资产DOCSREAL
| Q4 25 | $1.2B | $409.0M | ||
| Q3 25 | $1.3B | $366.2M | ||
| Q2 25 | $1.2B | $349.4M | ||
| Q1 25 | $1.3B | $400.4M | ||
| Q4 24 | $1.2B | $423.1M | ||
| Q3 24 | $1.1B | $406.3M | ||
| Q2 24 | $1.1B | $407.4M | ||
| Q1 24 | $1.1B | $431.6M |
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 | $60.9M | $49.5M |
| 自由现金流经营现金流 - 资本支出 | — | $45.8M |
| 自由现金流率自由现金流/营收 | — | 23.6% |
| 资本支出强度资本支出/营收 | — | 1.9% |
| 现金转化率经营现金流/净利润 | 0.99× | — |
| 过去12个月自由现金流最近4个季度 | — | $18.4M |
8季度趋势，按日历期对齐
经营现金流DOCSREAL
| Q4 25 | $60.9M | $49.5M | ||
| Q3 25 | $93.9M | $19.3M | ||
| Q2 25 | $62.1M | $-3.6M | ||
| Q1 25 | $98.5M | $-28.3M | ||
| Q4 24 | $65.2M | $28.0M | ||
| Q3 24 | $68.3M | $9.1M | ||
| Q2 24 | $41.2M | $-6.8M | ||
| Q1 24 | $63.9M | $-3.5M |
自由现金流DOCSREAL
| Q4 25 | — | $45.8M | ||
| Q3 25 | — | $16.9M | ||
| Q2 25 | — | $-11.4M | ||
| Q1 25 | — | $-33.0M | ||
| Q4 24 | — | $22.9M | ||
| Q3 24 | — | $5.0M | ||
| Q2 24 | — | $-9.8M | ||
| Q1 24 | — | $-5.6M |
自由现金流率DOCSREAL
| Q4 25 | — | 23.6% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | -6.9% | ||
| Q1 25 | — | -20.6% | ||
| Q4 24 | — | 14.0% | ||
| Q3 24 | — | 3.4% | ||
| Q2 24 | — | -6.7% | ||
| Q1 24 | — | -3.9% |
资本支出强度DOCSREAL
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 4.7% | ||
| Q1 25 | 0.0% | 2.9% | ||
| Q4 24 | 0.0% | 3.1% | ||
| Q3 24 | 0.0% | 2.7% | ||
| Q2 24 | 0.0% | 2.1% | ||
| Q1 24 | 0.0% | 1.5% |
现金转化率DOCSREAL
| Q4 25 | 0.99× | — | ||
| Q3 25 | 1.51× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.58× | -0.45× | ||
| Q4 24 | 0.87× | — | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 1.00× | — | ||
| Q1 24 | 1.57× | — |
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
DOCS
| Subscription | $175.4M | 95% |
| Service Other | $9.7M | 5% |
REAL
| Services | $149.0M | 77% |
| Products | $27.2M | 14% |
| Shipping And Handling | $17.8M | 9% |
