vs
DOCUSIGN, INC.（DOCU）与DXP ENTERPRISES INC（DXPE）财务数据对比。点击上方公司名可切换其他公司
DOCUSIGN, INC.的季度营收约是DXP ENTERPRISES INC的1.6倍（$818.4M vs $527.4M），DOCUSIGN, INC.净利率更高（10.2% vs 4.3%，领先5.9%），DXP ENTERPRISES INC同比增速更快（12.0% vs 8.4%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $34.5M）
DocuSign是总部位于美国加利福尼亚州旧金山的软件企业，为各类机构提供多设备支持的电子协议管理及电子签名相关产品。截至2025年，公司在180个国家拥有约170万客户，其处理的签名符合美国ESIGN法案、欧盟eIDAS法规要求，满足欧盟高级及合格签名标准。
DXP Enterprises Inc.是一家领先的工业分销企业，提供维护、维修、运营（MRO）用品、流体处理设备、泵系统及相关技术服务，主要服务制造业、能源、矿业、建筑等领域客户，核心市场覆盖北美地区。
DOCU vs DXPE — 直观对比
营收规模更大
DOCU
是对方的1.6倍
$527.4M
营收增速更快
DXPE
高出3.6%
8.4%
净利率更高
DOCU
高出5.9%
4.3%
自由现金流更多
DOCU
多$228.4M
$34.5M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $527.4M |
| 净利润 | $83.7M | $22.8M |
| 毛利率 | 79.2% | 31.6% |
| 营业利润率 | 10.4% | 8.8% |
| 净利率 | 10.2% | 4.3% |
| 营收同比 | 8.4% | 12.0% |
| 净利润同比 | 34.1% | 6.9% |
| 每股收益（稀释后） | $0.40 | $1.38 |
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DOCUDXPE
| Q4 25 | $818.4M | $527.4M | ||
| Q3 25 | $800.6M | $513.7M | ||
| Q2 25 | $763.7M | $498.7M | ||
| Q1 25 | — | $476.6M | ||
| Q4 24 | — | $470.9M | ||
| Q3 24 | — | $472.9M | ||
| Q2 24 | — | $445.6M | ||
| Q1 24 | — | $412.6M |
净利润DOCUDXPE
| Q4 25 | $83.7M | $22.8M | ||
| Q3 25 | $63.0M | $21.6M | ||
| Q2 25 | $72.1M | $23.6M | ||
| Q1 25 | — | $20.6M | ||
| Q4 24 | — | $21.4M | ||
| Q3 24 | — | $21.1M | ||
| Q2 24 | — | $16.7M | ||
| Q1 24 | — | $11.3M |
毛利率DOCUDXPE
| Q4 25 | 79.2% | 31.6% | ||
| Q3 25 | 79.3% | 31.4% | ||
| Q2 25 | 79.4% | 31.6% | ||
| Q1 25 | — | 31.5% | ||
| Q4 24 | — | 31.5% | ||
| Q3 24 | — | 30.9% | ||
| Q2 24 | — | 30.9% | ||
| Q1 24 | — | 30.0% |
营业利润率DOCUDXPE
| Q4 25 | 10.4% | 8.8% | ||
| Q3 25 | 8.1% | 8.5% | ||
| Q2 25 | 7.9% | 9.2% | ||
| Q1 25 | — | 8.5% | ||
| Q4 24 | — | 8.3% | ||
| Q3 24 | — | 8.4% | ||
| Q2 24 | — | 8.4% | ||
| Q1 24 | — | 7.1% |
净利率DOCUDXPE
| Q4 25 | 10.2% | 4.3% | ||
| Q3 25 | 7.9% | 4.2% | ||
| Q2 25 | 9.4% | 4.7% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | — | 3.7% | ||
| Q1 24 | — | 2.7% |
每股收益（稀释后）DOCUDXPE
| Q4 25 | $0.40 | $1.38 | ||
| Q3 25 | $0.30 | $1.31 | ||
| Q2 25 | $0.34 | $1.43 | ||
| Q1 25 | — | $1.25 | ||
| Q4 24 | — | $1.28 | ||
| Q3 24 | — | $1.27 | ||
| Q2 24 | — | $1.00 | ||
| Q1 24 | — | $0.67 |
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 | $583.3M | $303.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.0B | $498.4M |
| 总资产 | $4.0B | $1.7B |
| 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DOCUDXPE
| Q4 25 | $583.3M | $303.8M | ||
| Q3 25 | $600.0M | $123.8M | ||
| Q2 25 | $657.4M | $112.9M | ||
| Q1 25 | — | $114.3M | ||
| Q4 24 | — | $148.3M | ||
| Q3 24 | — | $35.0M | ||
| Q2 24 | — | $49.9M | ||
| Q1 24 | — | $139.7M |
股东权益DOCUDXPE
| Q4 25 | $2.0B | $498.4M | ||
| Q3 25 | $2.0B | $488.3M | ||
| Q2 25 | $2.0B | $468.1M | ||
| Q1 25 | — | $444.7M | ||
| Q4 24 | — | $422.8M | ||
| Q3 24 | — | $402.4M | ||
| Q2 24 | — | $384.7M | ||
| Q1 24 | — | $375.5M |
总资产DOCUDXPE
| Q4 25 | $4.0B | $1.7B | ||
| Q3 25 | $3.9B | $1.4B | ||
| Q2 25 | $3.9B | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
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 | $290.3M | $37.8M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | $34.5M |
| 自由现金流率自由现金流/营收 | 32.1% | 6.5% |
| 资本支出强度资本支出/营收 | 3.3% | 0.6% |
| 现金转化率经营现金流/净利润 | 3.47× | 1.65× |
| 过去12个月自由现金流最近4个季度 | — | $54.0M |
8季度趋势，按日历期对齐
经营现金流DOCUDXPE
| Q4 25 | $290.3M | $37.8M | ||
| Q3 25 | $246.1M | $34.9M | ||
| Q2 25 | $251.4M | $18.6M | ||
| Q1 25 | — | $3.0M | ||
| Q4 24 | — | $32.1M | ||
| Q3 24 | — | $28.3M | ||
| Q2 24 | — | $14.7M | ||
| Q1 24 | — | $27.0M |
自由现金流DOCUDXPE
| Q4 25 | $262.9M | $34.5M | ||
| Q3 25 | $217.6M | $28.1M | ||
| Q2 25 | $227.8M | $8.3M | ||
| Q1 25 | — | $-16.9M | ||
| Q4 24 | — | $22.7M | ||
| Q3 24 | — | $24.4M | ||
| Q2 24 | — | $5.9M | ||
| Q1 24 | — | $24.1M |
自由现金流率DOCUDXPE
| Q4 25 | 32.1% | 6.5% | ||
| Q3 25 | 27.2% | 5.5% | ||
| Q2 25 | 29.8% | 1.7% | ||
| Q1 25 | — | -3.6% | ||
| Q4 24 | — | 4.8% | ||
| Q3 24 | — | 5.2% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 5.8% |
资本支出强度DOCUDXPE
| Q4 25 | 3.3% | 0.6% | ||
| Q3 25 | 3.6% | 1.3% | ||
| Q2 25 | 3.1% | 2.1% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 2.0% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 0.7% |
现金转化率DOCUDXPE
| Q4 25 | 3.47× | 1.65× | ||
| Q3 25 | 3.91× | 1.61× | ||
| Q2 25 | 3.49× | 0.79× | ||
| Q1 25 | — | 0.14× | ||
| Q4 24 | — | 1.50× | ||
| Q3 24 | — | 1.34× | ||
| Q2 24 | — | 0.88× | ||
| Q1 24 | — | 2.38× |
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
DOCU
| Subscription And Circulation | $801.0M | 98% |
| Professional Services And Other | $17.4M | 2% |
DXPE
| Service Centers | $356.2M | 68% |
| Innovative Pumping Solutions | $110.0M | 21% |
| Supply Chain Services | $61.2M | 12% |
