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DOCUSIGN, INC.（DOCU）与Stride, Inc.（LRN）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Stride, Inc.的1.3倍（$818.4M vs $629.9M），Stride, Inc.净利率更高（14.1% vs 10.2%，领先3.8%），DOCUSIGN, INC.同比增速更快（8.4% vs 2.7%）
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。
Stride, Inc.是一家营利性教育机构，主营在线及混合式教育项目。作为教育管理机构，其为K12阶段公立学校学生提供替代传统线下教学的在线教育方案，同时也开设职业学习课程。截至2012年，这家上市企业是全球招生规模最大的教育管理机构。
DOCU vs LRN — 直观对比
营收规模更大
DOCU
是对方的1.3倍
$629.9M
营收增速更快
DOCU
高出5.7%
2.7%
净利率更高
LRN
高出3.8%
10.2%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $629.9M |
| 净利润 | $83.7M | $88.5M |
| 毛利率 | 79.2% | — |
| 营业利润率 | 10.4% | 20.5% |
| 净利率 | 10.2% | 14.1% |
| 营收同比 | 8.4% | 2.7% |
| 净利润同比 | 34.1% | 8.5% |
| 每股收益（稀释后） | $0.40 | $1.93 |
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DOCULRN
| Q3 26 | — | $629.9M | ||
| Q4 25 | $818.4M | $631.3M | ||
| Q3 25 | $800.6M | $620.9M | ||
| Q2 25 | $763.7M | $653.6M | ||
| Q1 25 | — | $613.4M | ||
| Q4 24 | — | $587.2M | ||
| Q3 24 | — | $551.1M |
净利润DOCULRN
| Q3 26 | — | $88.5M | ||
| Q4 25 | $83.7M | $99.5M | ||
| Q3 25 | $63.0M | $68.8M | ||
| Q2 25 | $72.1M | $51.3M | ||
| Q1 25 | — | $99.3M | ||
| Q4 24 | — | $96.4M | ||
| Q3 24 | — | $40.9M |
毛利率DOCULRN
| Q3 26 | — | — | ||
| Q4 25 | 79.2% | 41.1% | ||
| Q3 25 | 79.3% | 39.0% | ||
| Q2 25 | 79.4% | 36.6% | ||
| Q1 25 | — | 40.6% | ||
| Q4 24 | — | 40.8% | ||
| Q3 24 | — | 39.2% |
营业利润率DOCULRN
| Q3 26 | — | 20.5% | ||
| Q4 25 | 10.4% | 23.3% | ||
| Q3 25 | 8.1% | 11.1% | ||
| Q2 25 | 7.9% | 8.7% | ||
| Q1 25 | — | 21.3% | ||
| Q4 24 | — | 21.3% | ||
| Q3 24 | — | 8.6% |
净利率DOCULRN
| Q3 26 | — | 14.1% | ||
| Q4 25 | 10.2% | 15.8% | ||
| Q3 25 | 7.9% | 11.1% | ||
| Q2 25 | 9.4% | 7.9% | ||
| Q1 25 | — | 16.2% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | — | 7.4% |
每股收益（稀释后）DOCULRN
| Q3 26 | — | $1.93 | ||
| Q4 25 | $0.40 | $2.12 | ||
| Q3 25 | $0.30 | $1.40 | ||
| Q2 25 | $0.34 | $0.96 | ||
| Q1 25 | — | $2.02 | ||
| Q4 24 | — | $2.03 | ||
| Q3 24 | — | $0.94 |
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 | $614.0M |
| 总债务越低越好 | — | $417.6M |
| 股东权益账面价值 | $2.0B | $1.6B |
| 总资产 | $4.0B | $2.4B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资DOCULRN
| Q3 26 | — | $614.0M | ||
| Q4 25 | $583.3M | $625.7M | ||
| Q3 25 | $600.0M | $715.1M | ||
| Q2 25 | $657.4M | $985.3M | ||
| Q1 25 | — | $723.7M | ||
| Q4 24 | — | $717.5M | ||
| Q3 24 | — | $522.2M |
总债务DOCULRN
| Q3 26 | — | $417.6M | ||
| Q4 25 | — | $417.2M | ||
| Q3 25 | — | $416.8M | ||
| Q2 25 | — | $416.3M | ||
| Q1 25 | — | $415.9M | ||
| Q4 24 | — | $415.5M | ||
| Q3 24 | — | $415.1M |
股东权益DOCULRN
| Q3 26 | — | $1.6B | ||
| Q4 25 | $2.0B | $1.5B | ||
| Q3 25 | $2.0B | $1.5B | ||
| Q2 25 | $2.0B | $1.5B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.2B |
总资产DOCULRN
| Q3 26 | — | $2.4B | ||
| Q4 25 | $4.0B | $2.3B | ||
| Q3 25 | $3.9B | $2.3B | ||
| Q2 25 | $3.9B | $2.3B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.0B |
负债/权益比DOCULRN
| Q3 26 | — | 0.25× | ||
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.28× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.34× |
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 | $117.0M |
| 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× | 1.32× |
| 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DOCULRN
| Q3 26 | — | $117.0M | ||
| Q4 25 | $290.3M | $91.8M | ||
| Q3 25 | $246.1M | $-195.8M | ||
| Q2 25 | $251.4M | $298.3M | ||
| Q1 25 | — | $53.1M | ||
| Q4 24 | — | $223.4M | ||
| Q3 24 | — | $-142.0M |
自由现金流DOCULRN
| Q3 26 | — | — | ||
| Q4 25 | $262.9M | $91.6M | ||
| Q3 25 | $217.6M | $-196.1M | ||
| Q2 25 | $227.8M | $297.9M | ||
| Q1 25 | — | $52.9M | ||
| Q4 24 | — | $222.9M | ||
| Q3 24 | — | $-142.7M |
自由现金流率DOCULRN
| Q3 26 | — | — | ||
| Q4 25 | 32.1% | 14.5% | ||
| Q3 25 | 27.2% | -31.6% | ||
| Q2 25 | 29.8% | 45.6% | ||
| Q1 25 | — | 8.6% | ||
| Q4 24 | — | 38.0% | ||
| Q3 24 | — | -25.9% |
资本支出强度DOCULRN
| Q3 26 | — | — | ||
| Q4 25 | 3.3% | 0.0% | ||
| Q3 25 | 3.6% | 0.0% | ||
| Q2 25 | 3.1% | 0.1% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.1% |
现金转化率DOCULRN
| Q3 26 | — | 1.32× | ||
| Q4 25 | 3.47× | 0.92× | ||
| Q3 25 | 3.91× | -2.85× | ||
| Q2 25 | 3.49× | 5.81× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 2.32× | ||
| Q3 24 | — | -3.47× |
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% |
LRN
| General Education | $357.5M | 57% |
| Middle - High School | $259.5M | 41% |
| Adult | $12.9M | 2% |
