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DOCUSIGN, INC.（DOCU）与大都会人寿（MET）财务数据对比。点击上方公司名可切换其他公司
DOCUSIGN, INC.的季度营收约是大都会人寿的1.4倍（$818.4M vs $600.0M），大都会人寿净利率更高（134.8% vs 10.2%，领先124.6%），DOCUSIGN, INC.同比增速更快（8.4% vs 7.9%）
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。
大都会人寿（MetLife）是全球规模领先的保险、年金及员工福利服务提供商之一，创立于1868年，业务覆盖超60个国家和地区，服务约9000万客户，2018年位列《财富》美国500强营收排行榜第43位。
DOCU vs MET — 直观对比
营收规模更大
DOCU
是对方的1.4倍
$600.0M
营收增速更快
DOCU
高出0.5%
7.9%
净利率更高
MET
高出124.6%
10.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $600.0M |
| 净利润 | $83.7M | $809.0M |
| 毛利率 | 79.2% | — |
| 营业利润率 | 10.4% | — |
| 净利率 | 10.2% | 134.8% |
| 营收同比 | 8.4% | 7.9% |
| 净利润同比 | 34.1% | -36.3% |
| 每股收益（稀释后） | $0.40 | $1.18 |
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DOCUMET
| Q4 25 | $818.4M | $600.0M | ||
| Q3 25 | $800.6M | $621.0M | ||
| Q2 25 | $763.7M | $604.0M | ||
| Q1 25 | — | $611.0M | ||
| Q4 24 | — | $556.0M | ||
| Q3 24 | — | $554.0M | ||
| Q2 24 | — | $558.0M | ||
| Q1 24 | — | $577.0M |
净利润DOCUMET
| Q4 25 | $83.7M | $809.0M | ||
| Q3 25 | $63.0M | $896.0M | ||
| Q2 25 | $72.1M | $729.0M | ||
| Q1 25 | — | $945.0M | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $946.0M | ||
| Q1 24 | — | $867.0M |
毛利率DOCUMET
| 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DOCUMET
| Q4 25 | 10.4% | — | ||
| Q3 25 | 8.1% | — | ||
| Q2 25 | 7.9% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
净利率DOCUMET
| Q4 25 | 10.2% | 134.8% | ||
| Q3 25 | 7.9% | 144.3% | ||
| Q2 25 | 9.4% | 120.7% | ||
| Q1 25 | — | 154.7% | ||
| Q4 24 | — | 228.6% | ||
| Q3 24 | — | 242.2% | ||
| Q2 24 | — | 169.5% | ||
| Q1 24 | — | 150.3% |
每股收益（稀释后）DOCUMET
| Q4 25 | $0.40 | $1.18 | ||
| Q3 25 | $0.30 | $1.22 | ||
| Q2 25 | $0.34 | $1.03 | ||
| Q1 25 | — | $1.28 | ||
| Q4 24 | — | $1.75 | ||
| Q3 24 | — | $1.81 | ||
| Q2 24 | — | $1.28 | ||
| Q1 24 | — | $1.10 |
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 | $25.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.0B | $28.4B |
| 总资产 | $4.0B | $745.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DOCUMET
| Q4 25 | $583.3M | $25.6B | ||
| Q3 25 | $600.0M | $26.2B | ||
| Q2 25 | $657.4M | $27.5B | ||
| Q1 25 | — | $26.9B | ||
| Q4 24 | — | $25.2B | ||
| Q3 24 | — | $26.4B | ||
| Q2 24 | — | $24.6B | ||
| Q1 24 | — | $24.7B |
股东权益DOCUMET
| Q4 25 | $2.0B | $28.4B | ||
| Q3 25 | $2.0B | $28.9B | ||
| Q2 25 | $2.0B | $27.7B | ||
| Q1 25 | — | $27.5B | ||
| Q4 24 | — | $27.4B | ||
| Q3 24 | — | $30.9B | ||
| Q2 24 | — | $27.3B | ||
| Q1 24 | — | $28.5B |
总资产DOCUMET
| Q4 25 | $4.0B | $745.2B | ||
| Q3 25 | $3.9B | $719.7B | ||
| Q2 25 | $3.9B | $702.5B | ||
| Q1 25 | — | $688.3B | ||
| Q4 24 | — | $677.5B | ||
| Q3 24 | — | $705.0B | ||
| Q2 24 | — | $675.7B | ||
| Q1 24 | — | $677.6B |
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 | $7.1B |
| 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× | 8.75× |
| 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DOCUMET
| Q4 25 | $290.3M | $7.1B | ||
| Q3 25 | $246.1M | $3.6B | ||
| Q2 25 | $251.4M | $2.2B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.6B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $3.5B | ||
| Q1 24 | — | $2.3B |
自由现金流DOCUMET
| 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DOCUMET
| 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DOCUMET
| 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DOCUMET
| Q4 25 | 3.47× | 8.75× | ||
| Q3 25 | 3.91× | 3.98× | ||
| Q2 25 | 3.49× | 3.00× | ||
| Q1 25 | — | 4.51× | ||
| Q4 24 | — | 3.63× | ||
| Q3 24 | — | 3.11× | ||
| Q2 24 | — | 3.69× | ||
| Q1 24 | — | 2.69× |
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% |
MET
| Other | $165.0M | 28% |
| Prepaidlegalplansandadministrativeonlycontracts | $158.0M | 26% |
| Vision Fee For Service Arrangements | $140.0M | 23% |
| Administrative Service | $76.0M | 13% |
| Distribution Service | $36.0M | 6% |
| Feebasedinvestmentmanagementservices | $25.0M | 4% |
