vs
DOCUSIGN, INC.（DOCU）与HORACE MANN EDUCATORS CORP（HMN）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HORACE MANN EDUCATORS CORP的1.9倍（$818.4M vs $434.8M），DOCUSIGN, INC.同比增速更快（8.4% vs 6.3%）
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。
贺拉斯曼是一家总部位于美国伊利诺伊州的金融服务企业，主营汽车保险、财产保险、补充保险与人寿保险业务，同时提供退休年金、共同基金等金融产品，核心服务群体为教育工作者及其家庭。
DOCU vs HMN — 直观对比
营收规模更大
DOCU
是对方的1.9倍
$434.8M
营收增速更快
DOCU
高出2.1%
6.3%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $434.8M |
| 净利润 | $83.7M | — |
| 毛利率 | 79.2% | — |
| 营业利润率 | 10.4% | 10.5% |
| 净利率 | 10.2% | — |
| 营收同比 | 8.4% | 6.3% |
| 净利润同比 | 34.1% | — |
| 每股收益（稀释后） | $0.40 | $0.87 |
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DOCUHMN
| Q4 25 | $818.4M | $434.8M | ||
| Q3 25 | $800.6M | $438.5M | ||
| Q2 25 | $763.7M | $411.7M | ||
| Q1 25 | — | $416.4M | ||
| Q4 24 | — | $409.0M | ||
| Q3 24 | — | $412.1M | ||
| Q2 24 | — | $388.1M | ||
| Q1 24 | — | $386.0M |
净利润DOCUHMN
| Q4 25 | $83.7M | — | ||
| Q3 25 | $63.0M | $58.3M | ||
| Q2 25 | $72.1M | $29.4M | ||
| Q1 25 | — | $38.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $34.3M | ||
| Q2 24 | — | $3.8M | ||
| Q1 24 | — | $26.5M |
毛利率DOCUHMN
| Q4 25 | 79.2% | — | ||
| Q3 25 | 79.3% | — | ||
| Q2 25 | 79.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率DOCUHMN
| Q4 25 | 10.4% | 10.5% | ||
| Q3 25 | 8.1% | 16.3% | ||
| Q2 25 | 7.9% | 8.9% | ||
| Q1 25 | — | 11.4% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 10.4% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 8.5% |
净利率DOCUHMN
| Q4 25 | 10.2% | — | ||
| Q3 25 | 7.9% | 13.3% | ||
| Q2 25 | 9.4% | 7.1% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 8.3% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 6.9% |
每股收益（稀释后）DOCUHMN
| Q4 25 | $0.40 | $0.87 | ||
| Q3 25 | $0.30 | $1.40 | ||
| Q2 25 | $0.34 | $0.71 | ||
| Q1 25 | — | $0.92 | ||
| Q4 24 | — | $0.92 | ||
| Q3 24 | — | $0.83 | ||
| Q2 24 | — | $0.09 | ||
| Q1 24 | — | $0.64 |
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 | $27.5M |
| 总债务越低越好 | — | $593.4M |
| 股东权益账面价值 | $2.0B | $1.5B |
| 总资产 | $4.0B | $15.3B |
| 负债/权益比越低杠杆越低 | — | 0.40× |
8季度趋势，按日历期对齐
现金及短期投资DOCUHMN
| Q4 25 | $583.3M | $27.5M | ||
| Q3 25 | $600.0M | $46.7M | ||
| Q2 25 | $657.4M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $38.1M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
总债务DOCUHMN
| Q4 25 | — | $593.4M | ||
| Q3 25 | — | $842.9M | ||
| Q2 25 | — | $547.5M | ||
| Q1 25 | — | $547.2M | ||
| Q4 24 | — | $547.0M | ||
| Q3 24 | — | $546.7M | ||
| Q2 24 | — | $546.5M | ||
| Q1 24 | — | $546.2M |
股东权益DOCUHMN
| Q4 25 | $2.0B | $1.5B | ||
| Q3 25 | $2.0B | $1.4B | ||
| Q2 25 | $2.0B | $1.4B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
总资产DOCUHMN
| Q4 25 | $4.0B | $15.3B | ||
| Q3 25 | $3.9B | $15.5B | ||
| Q2 25 | $3.9B | $14.7B | ||
| Q1 25 | — | $14.4B | ||
| Q4 24 | — | $14.5B | ||
| Q3 24 | — | $14.7B | ||
| Q2 24 | — | $14.3B | ||
| Q1 24 | — | $14.2B |
负债/权益比DOCUHMN
| Q4 25 | — | 0.40× | ||
| Q3 25 | — | 0.58× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.41× | ||
| Q4 24 | — | 0.42× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | — | 0.45× | ||
| Q1 24 | — | 0.45× |
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 | $553.2M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | — |
| 自由现金流率自由现金流/营收 | 32.1% | — |
| 资本支出强度资本支出/营收 | 3.3% | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流DOCUHMN
| Q4 25 | $290.3M | $553.2M | ||
| Q3 25 | $246.1M | $151.2M | ||
| Q2 25 | $251.4M | $131.3M | ||
| Q1 25 | — | $140.8M | ||
| Q4 24 | — | $452.1M | ||
| Q3 24 | — | $143.9M | ||
| Q2 24 | — | $40.2M | ||
| Q1 24 | — | $74.5M |
自由现金流DOCUHMN
| Q4 25 | $262.9M | — | ||
| Q3 25 | $217.6M | — | ||
| Q2 25 | $227.8M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率DOCUHMN
| Q4 25 | 32.1% | — | ||
| Q3 25 | 27.2% | — | ||
| Q2 25 | 29.8% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度DOCUHMN
| Q4 25 | 3.3% | — | ||
| Q3 25 | 3.6% | — | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率DOCUHMN
| Q4 25 | 3.47× | — | ||
| Q3 25 | 3.91× | 2.59× | ||
| Q2 25 | 3.49× | 4.47× | ||
| Q1 25 | — | 3.69× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 4.20× | ||
| Q2 24 | — | 10.58× | ||
| Q1 24 | — | 2.81× |
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% |
HMN
| Property And Casualty | $224.3M | 52% |
| Life And Retirement | $139.6M | 32% |
| Supplemental And Group Benefits | $77.0M | 18% |
