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DOCUSIGN, INC.（DOCU）与伊萨（ESAB）财务数据对比。点击上方公司名可切换其他公司
DOCUSIGN, INC.的季度营收约是伊萨的1.1倍（$818.4M vs $727.8M），DOCUSIGN, INC.净利率更高（10.2% vs 7.5%，领先2.7%），伊萨同比增速更快（8.5% vs 8.4%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $70.3M）
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。
ESAB（全称Elektriska Svetsnings-Aktiebolaget）是一家美国与瑞典合资的跨国工业企业，主营焊接、切割设备及配套耗材的研发、生产与销售，为全球制造业、基建等多领域客户提供专业可靠的工业解决方案，在全球工业市场拥有较高知名度。
DOCU vs ESAB — 直观对比
营收规模更大
DOCU
是对方的1.1倍
$727.8M
营收增速更快
ESAB
高出0.1%
8.4%
净利率更高
DOCU
高出2.7%
7.5%
自由现金流更多
DOCU
多$192.6M
$70.3M
损益表 — Q3 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $727.8M |
| 净利润 | $83.7M | $54.8M |
| 毛利率 | 79.2% | 37.0% |
| 营业利润率 | 10.4% | 14.6% |
| 净利率 | 10.2% | 7.5% |
| 营收同比 | 8.4% | 8.5% |
| 净利润同比 | 34.1% | 2.1% |
| 每股收益（稀释后） | $0.40 | $0.90 |
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DOCUESAB
| Q4 25 | $818.4M | $727.8M | ||
| Q3 25 | $800.6M | $715.6M | ||
| Q2 25 | $763.7M | $678.1M | ||
| Q4 24 | — | $670.8M | ||
| Q3 24 | — | $673.3M | ||
| Q2 24 | — | $707.1M | ||
| Q1 24 | — | $689.7M | ||
| Q4 23 | — | $689.3M |
净利润DOCUESAB
| Q4 25 | $83.7M | $54.8M | ||
| Q3 25 | $63.0M | $66.9M | ||
| Q2 25 | $72.1M | $67.4M | ||
| Q4 24 | — | $53.7M | ||
| Q3 24 | — | $68.2M | ||
| Q2 24 | — | $82.9M | ||
| Q1 24 | — | $60.0M | ||
| Q4 23 | — | $50.2M |
毛利率DOCUESAB
| Q4 25 | 79.2% | 37.0% | ||
| Q3 25 | 79.3% | 37.2% | ||
| Q2 25 | 79.4% | 37.6% | ||
| Q4 24 | — | 38.5% | ||
| Q3 24 | — | 37.7% | ||
| Q2 24 | — | 38.2% | ||
| Q1 24 | — | 37.0% | ||
| Q4 23 | — | 37.0% |
营业利润率DOCUESAB
| Q4 25 | 10.4% | 14.6% | ||
| Q3 25 | 8.1% | 15.2% | ||
| Q2 25 | 7.9% | 16.2% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | — | 15.7% | ||
| Q2 24 | — | 16.9% | ||
| Q1 24 | — | 16.0% | ||
| Q4 23 | — | 15.0% |
净利率DOCUESAB
| Q4 25 | 10.2% | 7.5% | ||
| Q3 25 | 7.9% | 9.3% | ||
| Q2 25 | 9.4% | 9.9% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | — | 10.1% | ||
| Q2 24 | — | 11.7% | ||
| Q1 24 | — | 8.7% | ||
| Q4 23 | — | 7.3% |
每股收益（稀释后）DOCUESAB
| Q4 25 | $0.40 | $0.90 | ||
| Q3 25 | $0.30 | $1.09 | ||
| Q2 25 | $0.34 | $1.10 | ||
| Q4 24 | — | $0.87 | ||
| Q3 24 | — | $1.11 | ||
| Q2 24 | — | $1.35 | ||
| Q1 24 | — | $0.98 | ||
| Q4 23 | — | $0.83 |
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 | $218.2M |
| 总债务越低越好 | — | $1.3B |
| 股东权益账面价值 | $2.0B | $2.1B |
| 总资产 | $4.0B | $4.9B |
| 负债/权益比越低杠杆越低 | — | 0.63× |
8季度趋势，按日历期对齐
现金及短期投资DOCUESAB
| Q4 25 | $583.3M | $218.2M | ||
| Q3 25 | $600.0M | $258.2M | ||
| Q2 25 | $657.4M | $291.3M | ||
| Q4 24 | — | $249.4M | ||
| Q3 24 | — | $253.7M | ||
| Q2 24 | — | $228.5M | ||
| Q1 24 | — | $76.5M | ||
| Q4 23 | — | $102.0M |
总债务DOCUESAB
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $992.8M | ||
| Q4 23 | — | $1.0B |
股东权益DOCUESAB
| Q4 25 | $2.0B | $2.1B | ||
| Q3 25 | $2.0B | $2.1B | ||
| Q2 25 | $2.0B | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.6B | ||
| Q4 23 | — | $1.6B |
总资产DOCUESAB
| Q4 25 | $4.0B | $4.9B | ||
| Q3 25 | $3.9B | $4.4B | ||
| Q2 25 | $3.9B | $4.2B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.0B | ||
| Q1 24 | — | $3.8B | ||
| Q4 23 | — | $3.8B |
负债/权益比DOCUESAB
| Q4 25 | — | 0.63× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.55× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.59× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | 0.61× | ||
| Q4 23 | — | 0.63× |
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 | $81.5M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | $70.3M |
| 自由现金流率自由现金流/营收 | 32.1% | 9.7% |
| 资本支出强度资本支出/营收 | 3.3% | 1.5% |
| 现金转化率经营现金流/净利润 | 3.47× | 1.49× |
| 过去12个月自由现金流最近4个季度 | — | $238.0M |
8季度趋势，按日历期对齐
经营现金流DOCUESAB
| Q4 25 | $290.3M | $81.5M | ||
| Q3 25 | $246.1M | $46.6M | ||
| Q2 25 | $251.4M | $35.4M | ||
| Q4 24 | — | $126.9M | ||
| Q3 24 | — | $101.0M | ||
| Q2 24 | — | $83.0M | ||
| Q1 24 | — | $44.5M | ||
| Q4 23 | — | $122.4M |
自由现金流DOCUESAB
| Q4 25 | $262.9M | $70.3M | ||
| Q3 25 | $217.6M | $37.4M | ||
| Q2 25 | $227.8M | $28.1M | ||
| Q4 24 | — | $102.2M | ||
| Q3 24 | — | $90.4M | ||
| Q2 24 | — | $74.0M | ||
| Q1 24 | — | $37.1M | ||
| Q4 23 | — | $103.1M |
自由现金流率DOCUESAB
| Q4 25 | 32.1% | 9.7% | ||
| Q3 25 | 27.2% | 5.2% | ||
| Q2 25 | 29.8% | 4.1% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | — | 13.4% | ||
| Q2 24 | — | 10.5% | ||
| Q1 24 | — | 5.4% | ||
| Q4 23 | — | 15.0% |
资本支出强度DOCUESAB
| Q4 25 | 3.3% | 1.5% | ||
| Q3 25 | 3.6% | 1.3% | ||
| Q2 25 | 3.1% | 1.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 1.1% | ||
| Q4 23 | — | 2.8% |
现金转化率DOCUESAB
| Q4 25 | 3.47× | 1.49× | ||
| Q3 25 | 3.91× | 0.70× | ||
| Q2 25 | 3.49× | 0.53× | ||
| Q4 24 | — | 2.36× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 1.00× | ||
| Q1 24 | — | 0.74× | ||
| Q4 23 | — | 2.44× |
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% |
ESAB
| Consumable Products | $477.9M | 66% |
| Equipment Products | $249.9M | 34% |
