vs
Doximity, Inc.（DOCS）与Upstart Holdings, Inc.（UPST）财务数据对比。点击上方公司名可切换其他公司
Upstart Holdings, Inc.的季度营收约是Doximity, Inc.的1.6倍（$296.1M vs $185.1M），Doximity, Inc.净利率更高（33.3% vs 6.3%，领先27.0%），Upstart Holdings, Inc.同比增速更快（35.2% vs 9.8%），过去两年Upstart Holdings, Inc.的营收复合增速更高（52.2% vs 25.2%）
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。
Upstart是一家AI信贷平台服务商，与银行及信用合作社合作，将教育背景、就业情况等非传统指标纳入信用评估模型，更精准地预测借款人的信用状况，为用户提供消费贷款服务，助力金融机构提升信贷效率、扩大服务覆盖范围。
DOCS vs UPST — 直观对比
营收规模更大
UPST
是对方的1.6倍
$185.1M
营收增速更快
UPST
高出25.5%
9.8%
净利率更高
DOCS
高出27.0%
6.3%
两年增速更快
UPST
近两年复合增速
25.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $185.1M | $296.1M |
| 净利润 | $61.6M | $18.6M |
| 毛利率 | 89.9% | — |
| 营业利润率 | 38.9% | 6.4% |
| 净利率 | 33.3% | 6.3% |
| 营收同比 | 9.8% | 35.2% |
| 净利润同比 | -18.1% | 776.4% |
| 每股收益（稀释后） | $0.31 | $0.20 |
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DOCSUPST
| Q4 25 | $185.1M | $296.1M | ||
| Q3 25 | $168.5M | $277.1M | ||
| Q2 25 | $145.9M | $257.3M | ||
| Q1 25 | $138.3M | $213.4M | ||
| Q4 24 | $168.6M | $219.0M | ||
| Q3 24 | $136.8M | $162.1M | ||
| Q2 24 | $126.7M | $127.6M | ||
| Q1 24 | $118.1M | $127.8M |
净利润DOCSUPST
| Q4 25 | $61.6M | $18.6M | ||
| Q3 25 | $62.1M | $31.8M | ||
| Q2 25 | $53.3M | $5.6M | ||
| Q1 25 | $62.5M | $-2.4M | ||
| Q4 24 | $75.2M | $-2.8M | ||
| Q3 24 | $44.2M | $-6.8M | ||
| Q2 24 | $41.4M | $-54.5M | ||
| Q1 24 | $40.6M | $-64.6M |
毛利率DOCSUPST
| Q4 25 | 89.9% | — | ||
| Q3 25 | 90.3% | — | ||
| Q2 25 | 89.2% | — | ||
| Q1 25 | 89.5% | — | ||
| Q4 24 | 91.6% | — | ||
| Q3 24 | 90.0% | — | ||
| Q2 24 | 89.3% | — | ||
| Q1 24 | 89.4% | — |
营业利润率DOCSUPST
| Q4 25 | 38.9% | 6.4% | ||
| Q3 25 | 37.8% | 8.5% | ||
| Q2 25 | 37.4% | 1.8% | ||
| Q1 25 | 35.2% | -2.1% | ||
| Q4 24 | 47.4% | -2.2% | ||
| Q3 24 | 38.8% | -27.8% | ||
| Q2 24 | 36.4% | -43.5% | ||
| Q1 24 | 35.5% | -52.8% |
净利率DOCSUPST
| Q4 25 | 33.3% | 6.3% | ||
| Q3 25 | 36.8% | 11.5% | ||
| Q2 25 | 36.5% | 2.2% | ||
| Q1 25 | 45.2% | -1.1% | ||
| Q4 24 | 44.6% | -1.3% | ||
| Q3 24 | 32.3% | -4.2% | ||
| Q2 24 | 32.7% | -42.7% | ||
| Q1 24 | 34.4% | -50.5% |
每股收益（稀释后）DOCSUPST
| Q4 25 | $0.31 | $0.20 | ||
| Q3 25 | $0.31 | $0.23 | ||
| Q2 25 | $0.27 | $0.05 | ||
| Q1 25 | $0.31 | $-0.03 | ||
| Q4 24 | $0.37 | $-0.01 | ||
| Q3 24 | $0.22 | $-0.07 | ||
| Q2 24 | $0.21 | $-0.62 | ||
| Q1 24 | $0.20 | $-0.74 |
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 | $652.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $979.3M | $798.8M |
| 总资产 | $1.2B | $3.0B |
| 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DOCSUPST
| Q4 25 | $64.8M | $652.4M | ||
| Q3 25 | $169.2M | $489.8M | ||
| Q2 25 | $137.3M | $395.9M | ||
| Q1 25 | $209.6M | $599.8M | ||
| Q4 24 | $165.3M | $788.4M | ||
| Q3 24 | $184.2M | — | ||
| Q2 24 | $111.4M | — | ||
| Q1 24 | $96.8M | — |
股东权益DOCSUPST
| Q4 25 | $979.3M | $798.8M | ||
| Q3 25 | $1.1B | $743.7M | ||
| Q2 25 | $1.0B | $722.0M | ||
| Q1 25 | $1.1B | $676.6M | ||
| Q4 24 | $1.0B | $633.2M | ||
| Q3 24 | $961.2M | $595.5M | ||
| Q2 24 | $913.6M | $594.7M | ||
| Q1 24 | $901.4M | $612.8M |
总资产DOCSUPST
| Q4 25 | $1.2B | $3.0B | ||
| Q3 25 | $1.3B | $2.9B | ||
| Q2 25 | $1.2B | $2.5B | ||
| Q1 25 | $1.3B | $2.3B | ||
| Q4 24 | $1.2B | $2.4B | ||
| Q3 24 | $1.1B | $1.8B | ||
| Q2 24 | $1.1B | $1.8B | ||
| Q1 24 | $1.1B | $1.9B |
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 | $108.6M |
| 自由现金流经营现金流 - 资本支出 | — | $108.4M |
| 自由现金流率自由现金流/营收 | — | 36.6% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | 0.99× | 5.82× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流DOCSUPST
| Q4 25 | $60.9M | $108.6M | ||
| Q3 25 | $93.9M | $-122.6M | ||
| Q2 25 | $62.1M | $-120.2M | ||
| Q1 25 | $98.5M | $-13.5M | ||
| Q4 24 | $65.2M | $-110.9M | ||
| Q3 24 | $68.3M | $179.3M | ||
| Q2 24 | $41.2M | $65.3M | ||
| Q1 24 | $63.9M | $52.6M |
自由现金流DOCSUPST
| Q4 25 | — | $108.4M | ||
| Q3 25 | — | $-122.7M | ||
| Q2 25 | — | $-120.3M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $179.2M | ||
| Q2 24 | — | $65.3M | ||
| Q1 24 | — | $51.9M |
自由现金流率DOCSUPST
| Q4 25 | — | 36.6% | ||
| Q3 25 | — | -44.3% | ||
| Q2 25 | — | -46.7% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 110.5% | ||
| Q2 24 | — | 51.1% | ||
| Q1 24 | — | 40.6% |
资本支出强度DOCSUPST
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | 0.0% | 0.0% | ||
| Q4 24 | 0.0% | 0.0% | ||
| Q3 24 | 0.0% | 0.1% | ||
| Q2 24 | 0.0% | 0.0% | ||
| Q1 24 | 0.0% | 0.5% |
现金转化率DOCSUPST
| Q4 25 | 0.99× | 5.82× | ||
| Q3 25 | 1.51× | -3.86× | ||
| Q2 25 | 1.16× | -21.43× | ||
| Q1 25 | 1.58× | — | ||
| 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% |
UPST
| Personal Lending Segment | $201.4M | 68% |
| Servicing Fees Net | $39.5M | 13% |
| Servicing Fees | $27.5M | 9% |
| Other | $15.7M | 5% |
| Borrower Fees | $8.4M | 3% |
| Collection Agency Fees | $3.5M | 1% |
