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DOCUSIGN, INC.（DOCU）与Elastic N.V.（ESTC）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Elastic N.V.的1.9倍（$818.4M vs $423.5M），DOCUSIGN, INC.净利率更高（10.2% vs -12.1%，领先22.3%），Elastic N.V.同比增速更快（15.9% vs 8.4%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $26.0M）
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。
Elastic是荷美合资软件企业，2012年成立于荷兰阿姆斯特丹，运营总部分设于荷兰及美国加利福尼亚州旧金山市，于纽交所上市。公司提供企业级搜索、可观测性、网络安全平台，可支持用户实现大规模数据搜索分析、系统性能监测及异常检测。
DOCU vs ESTC — 直观对比
营收规模更大
DOCU
是对方的1.9倍
$423.5M
营收增速更快
ESTC
高出7.5%
8.4%
净利率更高
DOCU
高出22.3%
-12.1%
自由现金流更多
DOCU
多$236.9M
$26.0M
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $423.5M |
| 净利润 | $83.7M | $-51.3M |
| 毛利率 | 79.2% | 75.9% |
| 营业利润率 | 10.4% | -1.9% |
| 净利率 | 10.2% | -12.1% |
| 营收同比 | 8.4% | 15.9% |
| 净利润同比 | 34.1% | -101.5% |
| 每股收益（稀释后） | $0.40 | $-0.48 |
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DOCUESTC
| Q4 25 | $818.4M | $423.5M | ||
| Q3 25 | $800.6M | $415.3M | ||
| Q2 25 | $763.7M | $388.4M | ||
| Q1 25 | — | $382.1M | ||
| Q4 24 | — | $365.4M | ||
| Q3 24 | — | $347.4M | ||
| Q2 24 | — | $335.0M | ||
| Q1 24 | — | $328.0M |
净利润DOCUESTC
| Q4 25 | $83.7M | $-51.3M | ||
| Q3 25 | $63.0M | $-24.6M | ||
| Q2 25 | $72.1M | $-16.4M | ||
| Q1 25 | — | $-17.1M | ||
| Q4 24 | — | $-25.4M | ||
| Q3 24 | — | $-49.2M | ||
| Q2 24 | — | $-41.1M | ||
| Q1 24 | — | $176.1M |
毛利率DOCUESTC
| Q4 25 | 79.2% | 75.9% | ||
| Q3 25 | 79.3% | 76.7% | ||
| Q2 25 | 79.4% | 74.8% | ||
| Q1 25 | — | 74.6% | ||
| Q4 24 | — | 74.5% | ||
| Q3 24 | — | 73.6% | ||
| Q2 24 | — | 73.8% | ||
| Q1 24 | — | 74.2% |
营业利润率DOCUESTC
| Q4 25 | 10.4% | -1.9% | ||
| Q3 25 | 8.1% | -2.3% | ||
| Q2 25 | 7.9% | -3.1% | ||
| Q1 25 | — | -1.2% | ||
| Q4 24 | — | -1.2% | ||
| Q3 24 | — | -9.7% | ||
| Q2 24 | — | -13.6% | ||
| Q1 24 | — | -8.1% |
净利率DOCUESTC
| Q4 25 | 10.2% | -12.1% | ||
| Q3 25 | 7.9% | -5.9% | ||
| Q2 25 | 9.4% | -4.2% | ||
| Q1 25 | — | -4.5% | ||
| Q4 24 | — | -7.0% | ||
| Q3 24 | — | -14.2% | ||
| Q2 24 | — | -12.3% | ||
| Q1 24 | — | 53.7% |
每股收益（稀释后）DOCUESTC
| Q4 25 | $0.40 | $-0.48 | ||
| Q3 25 | $0.30 | $-0.23 | ||
| Q2 25 | $0.34 | $-0.15 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | — | $-0.25 | ||
| Q3 24 | — | $-0.48 | ||
| Q2 24 | — | $-0.35 | ||
| Q1 24 | — | $1.69 |
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 | $1.4B |
| 总债务越低越好 | — | $570.3M |
| 股东权益账面价值 | $2.0B | $891.1M |
| 总资产 | $4.0B | $2.5B |
| 负债/权益比越低杠杆越低 | — | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资DOCUESTC
| Q4 25 | $583.3M | $1.4B | ||
| Q3 25 | $600.0M | $1.5B | ||
| Q2 25 | $657.4M | $1.4B | ||
| Q1 25 | — | $584.0M | ||
| Q4 24 | — | $658.5M | ||
| Q3 24 | — | $594.9M | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $526.9M |
总债务DOCUESTC
| Q4 25 | — | $570.3M | ||
| Q3 25 | — | $570.0M | ||
| Q2 25 | — | $569.7M | ||
| Q1 25 | — | $569.4M | ||
| Q4 24 | — | $569.2M | ||
| Q3 24 | — | $568.9M | ||
| Q2 24 | — | $568.6M | ||
| Q1 24 | — | $568.3M |
股东权益DOCUESTC
| Q4 25 | $2.0B | $891.1M | ||
| Q3 25 | $2.0B | $971.4M | ||
| Q2 25 | $2.0B | $927.2M | ||
| Q1 25 | — | $859.1M | ||
| Q4 24 | — | $811.5M | ||
| Q3 24 | — | $759.4M | ||
| Q2 24 | — | $738.2M | ||
| Q1 24 | — | $707.8M |
总资产DOCUESTC
| Q4 25 | $4.0B | $2.5B | ||
| Q3 25 | $3.9B | $2.5B | ||
| Q2 25 | $3.9B | $2.6B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.1B |
负债/权益比DOCUESTC
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 0.59× | ||
| Q2 25 | — | 0.61× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.70× | ||
| Q3 24 | — | 0.75× | ||
| Q2 24 | — | 0.77× | ||
| Q1 24 | — | 0.80× |
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 | $26.6M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | $26.0M |
| 自由现金流率自由现金流/营收 | 32.1% | 6.1% |
| 资本支出强度资本支出/营收 | 3.3% | 0.1% |
| 现金转化率经营现金流/净利润 | 3.47× | — |
| 过去12个月自由现金流最近4个季度 | — | $302.3M |
8季度趋势，按日历期对齐
经营现金流DOCUESTC
| Q4 25 | $290.3M | $26.6M | ||
| Q3 25 | $246.1M | $104.8M | ||
| Q2 25 | $251.4M | $87.0M | ||
| Q1 25 | — | $88.1M | ||
| Q4 24 | — | $38.4M | ||
| Q3 24 | — | $52.8M | ||
| Q2 24 | — | $60.9M | ||
| Q1 24 | — | $52.4M |
自由现金流DOCUESTC
| Q4 25 | $262.9M | $26.0M | ||
| Q3 25 | $217.6M | $104.2M | ||
| Q2 25 | $227.8M | $84.9M | ||
| Q1 25 | — | $87.3M | ||
| Q4 24 | — | $37.7M | ||
| Q3 24 | — | $52.0M | ||
| Q2 24 | — | $60.1M | ||
| Q1 24 | — | $51.3M |
自由现金流率DOCUESTC
| Q4 25 | 32.1% | 6.1% | ||
| Q3 25 | 27.2% | 25.1% | ||
| Q2 25 | 29.8% | 21.8% | ||
| Q1 25 | — | 22.8% | ||
| Q4 24 | — | 10.3% | ||
| Q3 24 | — | 15.0% | ||
| Q2 24 | — | 17.9% | ||
| Q1 24 | — | 15.6% |
资本支出强度DOCUESTC
| Q4 25 | 3.3% | 0.1% | ||
| Q3 25 | 3.6% | 0.2% | ||
| Q2 25 | 3.1% | 0.5% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.3% |
现金转化率DOCUESTC
| Q4 25 | 3.47× | — | ||
| Q3 25 | 3.91× | — | ||
| Q2 25 | 3.49× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.30× |
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% |
ESTC
| Self Managed Subscription | $192.0M | 45% |
| Saa S Self Managed Annual | $156.9M | 37% |
| Saa S Self Managed Monthly | $48.8M | 12% |
| Professional Services | $25.8M | 6% |
