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Doximity, Inc.（DOCS）与U S PHYSICAL THERAPY INC（USPH）财务数据对比。点击上方公司名可切换其他公司
U S PHYSICAL THERAPY INC的季度营收约是Doximity, Inc.的1.1倍（$202.7M vs $185.1M），Doximity, Inc.净利率更高（33.3% vs 2.0%，领先31.2%），U S PHYSICAL THERAPY INC同比增速更快（12.3% vs 9.8%），过去两年Doximity, Inc.的营收复合增速更高（25.2% vs 14.1%）
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。
该企业是美国领先的门诊康复服务提供商，运营数百间线下物理治疗门诊，为受伤、术后、慢性疼痛及行动障碍人群提供康复护理，同时覆盖运动医学、职业治疗、儿童康复等特色服务领域。
DOCS vs USPH — 直观对比
营收规模更大
USPH
是对方的1.1倍
$185.1M
营收增速更快
USPH
高出2.6%
9.8%
净利率更高
DOCS
高出31.2%
2.0%
两年增速更快
DOCS
近两年复合增速
14.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $185.1M | $202.7M |
| 净利润 | $61.6M | $4.2M |
| 毛利率 | 89.9% | 19.8% |
| 营业利润率 | 38.9% | 8.3% |
| 净利率 | 33.3% | 2.0% |
| 营收同比 | 9.8% | 12.3% |
| 净利润同比 | -18.1% | -55.1% |
| 每股收益（稀释后） | $0.31 | $-0.44 |
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DOCSUSPH
| Q4 25 | $185.1M | $202.7M | ||
| Q3 25 | $168.5M | $197.1M | ||
| Q2 25 | $145.9M | $197.3M | ||
| Q1 25 | $138.3M | $183.8M | ||
| Q4 24 | $168.6M | $180.4M | ||
| Q3 24 | $136.8M | $168.0M | ||
| Q2 24 | $126.7M | $167.2M | ||
| Q1 24 | $118.1M | $155.7M |
净利润DOCSUSPH
| Q4 25 | $61.6M | $4.2M | ||
| Q3 25 | $62.1M | $13.1M | ||
| Q2 25 | $53.3M | $12.4M | ||
| Q1 25 | $62.5M | $9.9M | ||
| Q4 24 | $75.2M | $9.2M | ||
| Q3 24 | $44.2M | $6.6M | ||
| Q2 24 | $41.4M | $7.5M | ||
| Q1 24 | $40.6M | $8.0M |
毛利率DOCSUSPH
| Q4 25 | 89.9% | 19.8% | ||
| Q3 25 | 90.3% | 18.7% | ||
| Q2 25 | 89.2% | 21.1% | ||
| Q1 25 | 89.5% | 16.9% | ||
| Q4 24 | 91.6% | 18.0% | ||
| Q3 24 | 90.0% | 17.3% | ||
| Q2 24 | 89.3% | 20.3% | ||
| Q1 24 | 89.4% | 18.2% |
营业利润率DOCSUSPH
| Q4 25 | 38.9% | 8.3% | ||
| Q3 25 | 37.8% | 12.8% | ||
| Q2 25 | 37.4% | 12.6% | ||
| Q1 25 | 35.2% | 10.7% | ||
| Q4 24 | 47.4% | 10.9% | ||
| Q3 24 | 38.8% | 7.6% | ||
| Q2 24 | 36.4% | 9.3% | ||
| Q1 24 | 35.5% | 9.6% |
净利率DOCSUSPH
| Q4 25 | 33.3% | 2.0% | ||
| Q3 25 | 36.8% | 6.7% | ||
| Q2 25 | 36.5% | 6.3% | ||
| Q1 25 | 45.2% | 5.4% | ||
| Q4 24 | 44.6% | 5.1% | ||
| Q3 24 | 32.3% | 3.9% | ||
| Q2 24 | 32.7% | 4.5% | ||
| Q1 24 | 34.4% | 5.2% |
每股收益（稀释后）DOCSUSPH
| Q4 25 | $0.31 | $-0.44 | ||
| Q3 25 | $0.31 | $0.48 | ||
| Q2 25 | $0.27 | $0.58 | ||
| Q1 25 | $0.31 | $0.80 | ||
| Q4 24 | $0.37 | $0.52 | ||
| Q3 24 | $0.22 | $0.39 | ||
| Q2 24 | $0.21 | $0.47 | ||
| Q1 24 | $0.20 | $0.46 |
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 | $35.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $979.3M | $476.4M |
| 总资产 | $1.2B | $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DOCSUSPH
| Q4 25 | $64.8M | $35.6M | ||
| Q3 25 | $169.2M | $31.1M | ||
| Q2 25 | $137.3M | $34.1M | ||
| Q1 25 | $209.6M | $39.2M | ||
| Q4 24 | $165.3M | $41.4M | ||
| Q3 24 | $184.2M | $117.0M | ||
| Q2 24 | $111.4M | $112.9M | ||
| Q1 24 | $96.8M | $132.3M |
股东权益DOCSUSPH
| Q4 25 | $979.3M | $476.4M | ||
| Q3 25 | $1.1B | $503.6M | ||
| Q2 25 | $1.0B | $500.8M | ||
| Q1 25 | $1.1B | $497.3M | ||
| Q4 24 | $1.0B | $488.9M | ||
| Q3 24 | $961.2M | $482.8M | ||
| Q2 24 | $913.6M | $484.6M | ||
| Q1 24 | $901.4M | $479.8M |
总资产DOCSUSPH
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.1B | $1.0B | ||
| Q1 24 | $1.1B | $1.0B |
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 | $24.9M |
| 自由现金流经营现金流 - 资本支出 | — | $21.0M |
| 自由现金流率自由现金流/营收 | — | 10.4% |
| 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× | 6.00× |
| 过去12个月自由现金流最近4个季度 | — | $61.0M |
8季度趋势，按日历期对齐
经营现金流DOCSUSPH
| Q4 25 | $60.9M | $24.9M | ||
| Q3 25 | $93.9M | $19.9M | ||
| Q2 25 | $62.1M | $34.9M | ||
| Q1 25 | $98.5M | $-4.7M | ||
| Q4 24 | $65.2M | $19.4M | ||
| Q3 24 | $68.3M | $22.1M | ||
| Q2 24 | $41.2M | $29.0M | ||
| Q1 24 | $63.9M | $4.4M |
自由现金流DOCSUSPH
| Q4 25 | — | $21.0M | ||
| Q3 25 | — | $15.6M | ||
| Q2 25 | — | $31.6M | ||
| Q1 25 | — | $-7.3M | ||
| Q4 24 | — | $16.9M | ||
| Q3 24 | — | $19.6M | ||
| Q2 24 | — | $26.7M | ||
| Q1 24 | — | $2.6M |
自由现金流率DOCSUSPH
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | 7.9% | ||
| Q2 25 | — | 16.0% | ||
| Q1 25 | — | -3.9% | ||
| Q4 24 | — | 9.4% | ||
| Q3 24 | — | 11.7% | ||
| Q2 24 | — | 15.9% | ||
| Q1 24 | — | 1.7% |
资本支出强度DOCSUSPH
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | 0.0% | 1.4% | ||
| Q4 24 | 0.0% | 1.4% | ||
| Q3 24 | 0.0% | 1.5% | ||
| Q2 24 | 0.0% | 1.4% | ||
| Q1 24 | 0.0% | 1.2% |
现金转化率DOCSUSPH
| Q4 25 | 0.99× | 6.00× | ||
| Q3 25 | 1.51× | 1.52× | ||
| Q2 25 | 1.16× | 2.81× | ||
| Q1 25 | 1.58× | -0.47× | ||
| Q4 24 | 0.87× | 2.10× | ||
| Q3 24 | 1.55× | 3.34× | ||
| Q2 24 | 1.00× | 3.86× | ||
| Q1 24 | 1.57× | 0.55× |
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% |
USPH
| Net Patient Revenues | $169.7M | 84% |
| Industrial Injury Prevention Services Revenues | $28.9M | 14% |
| Management Contract Revenues | $2.3M | 1% |
