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DOCUSIGN, INC.（DOCU）与ExlService Holdings, Inc.（EXLS）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ExlService Holdings, Inc.的1.5倍（$818.4M vs $542.6M），ExlService Holdings, Inc.净利率更高（11.1% vs 10.2%，领先0.9%），ExlService Holdings, Inc.同比增速更快（12.7% vs 8.4%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $106.5M）
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。
ExlService Holdings Inc.是全球知名的分析与数字解决方案服务商，服务覆盖保险、医疗健康、银行金融服务、媒体、零售等多个行业，总部位于纽约，在美国、欧洲、亚洲、拉美、澳大利亚、南非等地拥有超过5.4万名专业从业人员。
DOCU vs EXLS — 直观对比
营收规模更大
DOCU
是对方的1.5倍
$542.6M
营收增速更快
EXLS
高出4.3%
8.4%
净利率更高
EXLS
高出0.9%
10.2%
自由现金流更多
DOCU
多$156.4M
$106.5M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $542.6M |
| 净利润 | $83.7M | $60.2M |
| 毛利率 | 79.2% | 38.6% |
| 营业利润率 | 10.4% | 14.4% |
| 净利率 | 10.2% | 11.1% |
| 营收同比 | 8.4% | 12.7% |
| 净利润同比 | 34.1% | 18.9% |
| 每股收益（稀释后） | $0.40 | $0.38 |
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DOCUEXLS
| Q4 25 | $818.4M | $542.6M | ||
| Q3 25 | $800.6M | $529.6M | ||
| Q2 25 | $763.7M | $514.5M | ||
| Q1 25 | — | $501.0M | ||
| Q4 24 | — | $481.4M | ||
| Q3 24 | — | $472.1M | ||
| Q2 24 | — | $448.4M | ||
| Q1 24 | — | $436.5M |
净利润DOCUEXLS
| Q4 25 | $83.7M | $60.2M | ||
| Q3 25 | $63.0M | $58.2M | ||
| Q2 25 | $72.1M | $66.1M | ||
| Q1 25 | — | $66.6M | ||
| Q4 24 | — | $50.7M | ||
| Q3 24 | — | $53.0M | ||
| Q2 24 | — | $45.8M | ||
| Q1 24 | — | $48.8M |
毛利率DOCUEXLS
| Q4 25 | 79.2% | 38.6% | ||
| Q3 25 | 79.3% | 38.5% | ||
| Q2 25 | 79.4% | 37.7% | ||
| Q1 25 | — | 38.6% | ||
| Q4 24 | — | 38.1% | ||
| Q3 24 | — | 37.8% | ||
| Q2 24 | — | 37.1% | ||
| Q1 24 | — | 37.4% |
营业利润率DOCUEXLS
| Q4 25 | 10.4% | 14.4% | ||
| Q3 25 | 8.1% | 14.4% | ||
| Q2 25 | 7.9% | 15.8% | ||
| Q1 25 | — | 15.7% | ||
| Q4 24 | — | 14.8% | ||
| Q3 24 | — | 14.7% | ||
| Q2 24 | — | 13.7% | ||
| Q1 24 | — | 14.1% |
净利率DOCUEXLS
| Q4 25 | 10.2% | 11.1% | ||
| Q3 25 | 7.9% | 11.0% | ||
| Q2 25 | 9.4% | 12.8% | ||
| Q1 25 | — | 13.3% | ||
| Q4 24 | — | 10.5% | ||
| Q3 24 | — | 11.2% | ||
| Q2 24 | — | 10.2% | ||
| Q1 24 | — | 11.2% |
每股收益（稀释后）DOCUEXLS
| Q4 25 | $0.40 | $0.38 | ||
| Q3 25 | $0.30 | $0.36 | ||
| Q2 25 | $0.34 | $0.40 | ||
| Q1 25 | — | $0.40 | ||
| Q4 24 | — | $0.31 | ||
| Q3 24 | — | $0.33 | ||
| Q2 24 | — | $0.28 | ||
| Q1 24 | — | $0.29 |
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 | $328.4M |
| 总债务越低越好 | — | $298.6M |
| 股东权益账面价值 | $2.0B | $912.7M |
| 总资产 | $4.0B | $1.7B |
| 负债/权益比越低杠杆越低 | — | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资DOCUEXLS
| Q4 25 | $583.3M | $328.4M | ||
| Q3 25 | $600.0M | $390.1M | ||
| Q2 25 | $657.4M | $353.3M | ||
| Q1 25 | — | $331.4M | ||
| Q4 24 | — | $340.6M | ||
| Q3 24 | — | $325.8M | ||
| Q2 24 | — | $276.1M | ||
| Q1 24 | — | $246.2M |
总债务DOCUEXLS
| Q4 25 | — | $298.6M | ||
| Q3 25 | — | $354.8M | ||
| Q2 25 | — | $260.0M | ||
| Q1 25 | — | $307.3M | ||
| Q4 24 | — | $288.5M | ||
| Q3 24 | — | $344.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DOCUEXLS
| Q4 25 | $2.0B | $912.7M | ||
| Q3 25 | $2.0B | $952.4M | ||
| Q2 25 | $2.0B | $1.1B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $929.9M | ||
| Q3 24 | — | $907.6M | ||
| Q2 24 | — | $852.6M | ||
| Q1 24 | — | $803.3M |
总资产DOCUEXLS
| Q4 25 | $4.0B | $1.7B | ||
| Q3 25 | $3.9B | $1.7B | ||
| Q2 25 | $3.9B | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.4B |
负债/权益比DOCUEXLS
| Q4 25 | — | 0.33× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 0.31× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $117.4M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | $106.5M |
| 自由现金流率自由现金流/营收 | 32.1% | 19.6% |
| 资本支出强度资本支出/营收 | 3.3% | 2.0% |
| 现金转化率经营现金流/净利润 | 3.47× | 1.95× |
| 过去12个月自由现金流最近4个季度 | — | $298.1M |
8季度趋势，按日历期对齐
经营现金流DOCUEXLS
| Q4 25 | $290.3M | $117.4M | ||
| Q3 25 | $246.1M | $120.7M | ||
| Q2 25 | $251.4M | $109.4M | ||
| Q1 25 | — | $3.2M | ||
| Q4 24 | — | $105.3M | ||
| Q3 24 | — | $110.1M | ||
| Q2 24 | — | $74.9M | ||
| Q1 24 | — | $-21.9M |
自由现金流DOCUEXLS
| Q4 25 | $262.9M | $106.5M | ||
| Q3 25 | $217.6M | $106.4M | ||
| Q2 25 | $227.8M | $95.0M | ||
| Q1 25 | — | $-9.7M | ||
| Q4 24 | — | $95.3M | ||
| Q3 24 | — | $97.3M | ||
| Q2 24 | — | $62.8M | ||
| Q1 24 | — | $-33.1M |
自由现金流率DOCUEXLS
| Q4 25 | 32.1% | 19.6% | ||
| Q3 25 | 27.2% | 20.1% | ||
| Q2 25 | 29.8% | 18.5% | ||
| Q1 25 | — | -1.9% | ||
| Q4 24 | — | 19.8% | ||
| Q3 24 | — | 20.6% | ||
| Q2 24 | — | 14.0% | ||
| Q1 24 | — | -7.6% |
资本支出强度DOCUEXLS
| Q4 25 | 3.3% | 2.0% | ||
| Q3 25 | 3.6% | 2.7% | ||
| Q2 25 | 3.1% | 2.8% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.7% | ||
| Q1 24 | — | 2.6% |
现金转化率DOCUEXLS
| Q4 25 | 3.47× | 1.95× | ||
| Q3 25 | 3.91× | 2.08× | ||
| Q2 25 | 3.49× | 1.66× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | 2.08× | ||
| Q3 24 | — | 2.08× | ||
| Q2 24 | — | 1.63× | ||
| Q1 24 | — | -0.45× |
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% |
EXLS
| Insurance | $185.8M | 34% |
| Healthcare And Life Sciences | $142.2M | 26% |
| Banking Capital Markets And Diversified Industries | $122.6M | 23% |
| International Growth Markets | $92.0M | 17% |
