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DOCUSIGN, INC.（DOCU）与MDU RESOURCES GROUP INC（MDU）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MDU RESOURCES GROUP INC的1.6倍（$818.4M vs $522.6M），MDU RESOURCES GROUP INC净利率更高（14.6% vs 10.2%，领先4.4%），DOCUSIGN, INC.同比增速更快（8.4% vs -1.6%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $-336.0M）
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。
MDU资源集团是一家总部位于美国北达科他州俾斯麦的企业，业务涵盖受监管的能源输送供应，以及公用事业相关的建筑材料与服务，业务范围覆盖美国48个州，是当地能源及基建服务领域的重要参与者。
DOCU vs MDU — 直观对比
营收规模更大
DOCU
是对方的1.6倍
$522.6M
营收增速更快
DOCU
高出10.0%
-1.6%
净利率更高
MDU
高出4.4%
10.2%
自由现金流更多
DOCU
多$598.9M
$-336.0M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $522.6M |
| 净利润 | $83.7M | $76.3M |
| 毛利率 | 79.2% | — |
| 营业利润率 | 10.4% | 20.5% |
| 净利率 | 10.2% | 14.6% |
| 营收同比 | 8.4% | -1.6% |
| 净利润同比 | 34.1% | 38.4% |
| 每股收益（稀释后） | $0.40 | $0.37 |
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DOCUMDU
| Q4 25 | $818.4M | $522.6M | ||
| Q3 25 | $800.6M | $313.6M | ||
| Q2 25 | $763.7M | $348.7M | ||
| Q1 25 | — | $678.0M | ||
| Q4 24 | — | $531.0M | ||
| Q3 24 | — | $290.7M | ||
| Q2 24 | — | $343.1M | ||
| Q1 24 | — | $588.2M |
净利润DOCUMDU
| Q4 25 | $83.7M | $76.3M | ||
| Q3 25 | $63.0M | $18.3M | ||
| Q2 25 | $72.1M | $13.8M | ||
| Q1 25 | — | $82.0M | ||
| Q4 24 | — | $55.2M | ||
| Q3 24 | — | $64.6M | ||
| Q2 24 | — | $60.4M | ||
| Q1 24 | — | $100.9M |
毛利率DOCUMDU
| 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DOCUMDU
| Q4 25 | 10.4% | 20.5% | ||
| Q3 25 | 8.1% | 12.7% | ||
| Q2 25 | 7.9% | 8.7% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 17.8% | ||
| Q3 24 | — | 12.0% | ||
| Q2 24 | — | 11.5% | ||
| Q1 24 | — | 16.4% |
净利率DOCUMDU
| Q4 25 | 10.2% | 14.6% | ||
| Q3 25 | 7.9% | 5.8% | ||
| Q2 25 | 9.4% | 4.0% | ||
| Q1 25 | — | 12.1% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | — | 22.2% | ||
| Q2 24 | — | 17.6% | ||
| Q1 24 | — | 17.2% |
每股收益（稀释后）DOCUMDU
| Q4 25 | $0.40 | $0.37 | ||
| Q3 25 | $0.30 | $0.09 | ||
| Q2 25 | $0.34 | $0.07 | ||
| Q1 25 | — | $0.40 | ||
| Q4 24 | — | $0.26 | ||
| Q3 24 | — | $0.32 | ||
| Q2 24 | — | $0.30 | ||
| Q1 24 | — | $0.49 |
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 | $28.2M |
| 总债务越低越好 | — | $2.7B |
| 股东权益账面价值 | $2.0B | $2.8B |
| 总资产 | $4.0B | $7.6B |
| 负债/权益比越低杠杆越低 | — | 0.97× |
8季度趋势，按日历期对齐
现金及短期投资DOCUMDU
| Q4 25 | $583.3M | $28.2M | ||
| Q3 25 | $600.0M | $75.9M | ||
| Q2 25 | $657.4M | $58.8M | ||
| Q1 25 | — | $59.5M | ||
| Q4 24 | — | $66.9M | ||
| Q3 24 | — | $88.3M | ||
| Q2 24 | — | $78.8M | ||
| Q1 24 | — | $72.7M |
总债务DOCUMDU
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.3B |
股东权益DOCUMDU
| Q4 25 | $2.0B | $2.8B | ||
| Q3 25 | $2.0B | $2.7B | ||
| Q2 25 | $2.0B | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $3.0B |
总资产DOCUMDU
| Q4 25 | $4.0B | $7.6B | ||
| Q3 25 | $3.9B | $7.2B | ||
| Q2 25 | $3.9B | $6.9B | ||
| Q1 25 | — | $7.0B | ||
| Q4 24 | — | $7.0B | ||
| Q3 24 | — | $8.2B | ||
| Q2 24 | — | $8.0B | ||
| Q1 24 | — | $7.8B |
负债/权益比DOCUMDU
| Q4 25 | — | 0.97× | ||
| Q3 25 | — | 0.86× | ||
| Q2 25 | — | 0.80× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.85× | ||
| Q3 24 | — | 0.76× | ||
| Q2 24 | — | 0.75× | ||
| Q1 24 | — | 0.76× |
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 | $80.6M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | $-336.0M |
| 自由现金流率自由现金流/营收 | 32.1% | -64.3% |
| 资本支出强度资本支出/营收 | 3.3% | 79.7% |
| 现金转化率经营现金流/净利润 | 3.47× | 1.06× |
| 过去12个月自由现金流最近4个季度 | — | $-297.0M |
8季度趋势，按日历期对齐
经营现金流DOCUMDU
| Q4 25 | $290.3M | $80.6M | ||
| Q3 25 | $246.1M | $57.9M | ||
| Q2 25 | $251.4M | $117.4M | ||
| Q1 25 | — | $217.5M | ||
| Q4 24 | — | $60.5M | ||
| Q3 24 | — | $140.2M | ||
| Q2 24 | — | $136.5M | ||
| Q1 24 | — | $165.1M |
自由现金流DOCUMDU
| Q4 25 | $262.9M | $-336.0M | ||
| Q3 25 | $217.6M | $-121.9M | ||
| Q2 25 | $227.8M | $36.5M | ||
| Q1 25 | — | $124.4M | ||
| Q4 24 | — | $-95.8M | ||
| Q3 24 | — | $673.0K | ||
| Q2 24 | — | $26.5M | ||
| Q1 24 | — | $48.1M |
自由现金流率DOCUMDU
| Q4 25 | 32.1% | -64.3% | ||
| Q3 25 | 27.2% | -38.9% | ||
| Q2 25 | 29.8% | 10.5% | ||
| Q1 25 | — | 18.4% | ||
| Q4 24 | — | -18.0% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 7.7% | ||
| Q1 24 | — | 8.2% |
资本支出强度DOCUMDU
| Q4 25 | 3.3% | 79.7% | ||
| Q3 25 | 3.6% | 57.3% | ||
| Q2 25 | 3.1% | 23.2% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | — | 48.0% | ||
| Q2 24 | — | 32.0% | ||
| Q1 24 | — | 19.9% |
现金转化率DOCUMDU
| Q4 25 | 3.47× | 1.06× | ||
| Q3 25 | 3.91× | 3.16× | ||
| Q2 25 | 3.49× | 8.52× | ||
| Q1 25 | — | 2.65× | ||
| Q4 24 | — | 1.10× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | 2.26× | ||
| Q1 24 | — | 1.64× |
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% |
MDU
| Natural Gas Distribution | $382.8M | 73% |
| Commercial Utility Sales | $42.7M | 8% |
| Residential Utility Sales | $33.7M | 6% |
| Pipelineand Midstream | $31.1M | 6% |
| Natural Gas Transportation | $17.2M | 3% |
| Industrial Utility Sales | $10.1M | 2% |
| Natural Gas Storage | $6.4M | 1% |
| Other Utility Sales | $1.9M | 0% |
