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DOCUSIGN, INC.（DOCU）与Life Time Group Holdings, Inc.（LTH）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Life Time Group Holdings, Inc.的1.1倍（$818.4M vs $745.1M），Life Time Group Holdings, Inc.净利率更高（16.5% vs 10.2%，领先6.3%），Life Time Group Holdings, Inc.同比增速更快（12.3% vs 8.4%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $-64.6M）
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。
Life Time Group Holdings是美国高端健身康养服务运营商，在全美运营连锁高端运动场馆，提供健身器材使用、团体课程、私教指导、SPA护理、营养咨询、青少年运动项目及联合办公等服务，服务于追求健康生活方式的消费群体。
DOCU vs LTH — 直观对比
营收规模更大
DOCU
是对方的1.1倍
$745.1M
营收增速更快
LTH
高出3.9%
8.4%
净利率更高
LTH
高出6.3%
10.2%
自由现金流更多
DOCU
多$327.5M
$-64.6M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $745.1M |
| 净利润 | $83.7M | $123.0M |
| 毛利率 | 79.2% | 49.1% |
| 营业利润率 | 10.4% | 17.4% |
| 净利率 | 10.2% | 16.5% |
| 营收同比 | 8.4% | 12.3% |
| 净利润同比 | 34.1% | 231.0% |
| 每股收益（稀释后） | $0.40 | $0.55 |
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DOCULTH
| Q4 25 | $818.4M | $745.1M | ||
| Q3 25 | $800.6M | $782.6M | ||
| Q2 25 | $763.7M | $761.5M | ||
| Q1 25 | — | $706.0M | ||
| Q4 24 | — | $663.3M | ||
| Q3 24 | — | $693.2M | ||
| Q2 24 | — | $667.8M | ||
| Q1 24 | — | $596.7M |
净利润DOCULTH
| Q4 25 | $83.7M | $123.0M | ||
| Q3 25 | $63.0M | $102.4M | ||
| Q2 25 | $72.1M | $72.1M | ||
| Q1 25 | — | $76.1M | ||
| Q4 24 | — | $37.2M | ||
| Q3 24 | — | $41.4M | ||
| Q2 24 | — | $52.8M | ||
| Q1 24 | — | $24.9M |
毛利率DOCULTH
| Q4 25 | 79.2% | 49.1% | ||
| Q3 25 | 79.3% | 47.1% | ||
| Q2 25 | 79.4% | 47.0% | ||
| Q1 25 | — | 47.5% | ||
| Q4 24 | — | 48.2% | ||
| Q3 24 | — | 46.5% | ||
| Q2 24 | — | 46.8% | ||
| Q1 24 | — | 46.1% |
营业利润率DOCULTH
| Q4 25 | 10.4% | 17.4% | ||
| Q3 25 | 8.1% | 17.3% | ||
| Q2 25 | 7.9% | 14.2% | ||
| Q1 25 | — | 15.2% | ||
| Q4 24 | — | 13.1% | ||
| Q3 24 | — | 13.5% | ||
| Q2 24 | — | 15.7% | ||
| Q1 24 | — | 12.1% |
净利率DOCULTH
| Q4 25 | 10.2% | 16.5% | ||
| Q3 25 | 7.9% | 13.1% | ||
| Q2 25 | 9.4% | 9.5% | ||
| Q1 25 | — | 10.8% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 6.0% | ||
| Q2 24 | — | 7.9% | ||
| Q1 24 | — | 4.2% |
每股收益（稀释后）DOCULTH
| Q4 25 | $0.40 | $0.55 | ||
| Q3 25 | $0.30 | $0.45 | ||
| Q2 25 | $0.34 | $0.32 | ||
| Q1 25 | — | $0.34 | ||
| Q4 24 | — | $0.17 | ||
| Q3 24 | — | $0.19 | ||
| Q2 24 | — | $0.26 | ||
| Q1 24 | — | $0.12 |
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 | $204.8M |
| 总债务越低越好 | — | $1.5B |
| 股东权益账面价值 | $2.0B | $3.1B |
| 总资产 | $4.0B | $8.0B |
| 负债/权益比越低杠杆越低 | — | 0.48× |
8季度趋势，按日历期对齐
现金及短期投资DOCULTH
| Q4 25 | $583.3M | $204.8M | ||
| Q3 25 | $600.0M | $218.9M | ||
| Q2 25 | $657.4M | $175.5M | ||
| Q1 25 | — | $59.0M | ||
| Q4 24 | — | $10.9M | ||
| Q3 24 | — | $120.9M | ||
| Q2 24 | — | $34.5M | ||
| Q1 24 | — | $18.6M |
总债务DOCULTH
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $2.0B |
股东权益DOCULTH
| Q4 25 | $2.0B | $3.1B | ||
| Q3 25 | $2.0B | $3.0B | ||
| Q2 25 | $2.0B | $2.9B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.3B |
总资产DOCULTH
| Q4 25 | $4.0B | $8.0B | ||
| Q3 25 | $3.9B | $7.8B | ||
| Q2 25 | $3.9B | $7.6B | ||
| Q1 25 | — | $7.3B | ||
| Q4 24 | — | $7.2B | ||
| Q3 24 | — | $7.2B | ||
| Q2 24 | — | $7.1B | ||
| Q1 24 | — | $7.1B |
负债/权益比DOCULTH
| Q4 25 | — | 0.48× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.53× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.87× |
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 | $239.9M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | $-64.6M |
| 自由现金流率自由现金流/营收 | 32.1% | -8.7% |
| 资本支出强度资本支出/营收 | 3.3% | 40.9% |
| 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 | — | $-21.0M |
8季度趋势，按日历期对齐
经营现金流DOCULTH
| Q4 25 | $290.3M | $239.9M | ||
| Q3 25 | $246.1M | $251.1M | ||
| Q2 25 | $251.4M | $195.7M | ||
| Q1 25 | — | $183.9M | ||
| Q4 24 | — | $163.1M | ||
| Q3 24 | — | $151.1M | ||
| Q2 24 | — | $170.4M | ||
| Q1 24 | — | $90.4M |
自由现金流DOCULTH
| Q4 25 | $262.9M | $-64.6M | ||
| Q3 25 | $217.6M | $28.6M | ||
| Q2 25 | $227.8M | $-26.3M | ||
| Q1 25 | — | $41.4M | ||
| Q4 24 | — | $26.8M | ||
| Q3 24 | — | $64.0M | ||
| Q2 24 | — | $26.1M | ||
| Q1 24 | — | $-66.4M |
自由现金流率DOCULTH
| Q4 25 | 32.1% | -8.7% | ||
| Q3 25 | 27.2% | 3.7% | ||
| Q2 25 | 29.8% | -3.5% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 9.2% | ||
| Q2 24 | — | 3.9% | ||
| Q1 24 | — | -11.1% |
资本支出强度DOCULTH
| Q4 25 | 3.3% | 40.9% | ||
| Q3 25 | 3.6% | 28.4% | ||
| Q2 25 | 3.1% | 29.2% | ||
| Q1 25 | — | 20.2% | ||
| Q4 24 | — | 20.6% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | — | 21.6% | ||
| Q1 24 | — | 26.3% |
现金转化率DOCULTH
| Q4 25 | 3.47× | 1.95× | ||
| Q3 25 | 3.91× | 2.45× | ||
| Q2 25 | 3.49× | 2.71× | ||
| Q1 25 | — | 2.41× | ||
| Q4 24 | — | 4.39× | ||
| Q3 24 | — | 3.65× | ||
| Q2 24 | — | 3.23× | ||
| Q1 24 | — | 3.63× |
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% |
LTH
| Membership | $535.1M | 72% |
| In Center | $191.2M | 26% |
| Other | $18.8M | 3% |
