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DOCUSIGN, INC.（DOCU）与MSC INDUSTRIAL DIRECT CO INC（MSM）财务数据对比。点击上方公司名可切换其他公司
MSC INDUSTRIAL DIRECT CO INC的季度营收约是DOCUSIGN, INC.的1.2倍（$965.7M vs $818.4M），DOCUSIGN, INC.净利率更高（10.2% vs 5.4%，领先4.9%），DOCUSIGN, INC.同比增速更快（8.4% vs 4.0%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $7.4M）
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。
MSC工业直销公司（MSC）通过旗下主要子公司MSC工业供应公司，是美国规模最大的工业设备分销商之一，可提供超过150万种金属加工及其他工业类产品，广泛服务于工业制造、维修运维等领域的客户需求。
DOCU vs MSM — 直观对比
营收规模更大
MSM
是对方的1.2倍
$818.4M
营收增速更快
DOCU
高出4.4%
4.0%
净利率更高
DOCU
高出4.9%
5.4%
自由现金流更多
DOCU
多$255.5M
$7.4M
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $965.7M |
| 净利润 | $83.7M | $51.8M |
| 毛利率 | 79.2% | 40.7% |
| 营业利润率 | 10.4% | 7.9% |
| 净利率 | 10.2% | 5.4% |
| 营收同比 | 8.4% | 4.0% |
| 净利润同比 | 34.1% | 11.1% |
| 每股收益（稀释后） | $0.40 | $0.93 |
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DOCUMSM
| Q4 25 | $818.4M | $965.7M | ||
| Q3 25 | $800.6M | $978.2M | ||
| Q2 25 | $763.7M | $971.1M | ||
| Q4 24 | — | $928.5M | ||
| Q2 24 | — | $979.4M | ||
| Q1 24 | — | $935.3M | ||
| Q4 23 | — | $954.0M | ||
| Q3 23 | — | $1.0B |
净利润DOCUMSM
| Q4 25 | $83.7M | $51.8M | ||
| Q3 25 | $63.0M | $56.5M | ||
| Q2 25 | $72.1M | $56.8M | ||
| Q4 24 | — | $46.6M | ||
| Q2 24 | — | $71.7M | ||
| Q1 24 | — | $61.8M | ||
| Q4 23 | — | $69.3M | ||
| Q3 23 | — | $87.6M |
毛利率DOCUMSM
| Q4 25 | 79.2% | 40.7% | ||
| Q3 25 | 79.3% | 40.4% | ||
| Q2 25 | 79.4% | 41.0% | ||
| Q4 24 | — | 40.7% | ||
| Q2 24 | — | 40.9% | ||
| Q1 24 | — | 41.5% | ||
| Q4 23 | — | 41.2% | ||
| Q3 23 | — | 40.5% |
营业利润率DOCUMSM
| Q4 25 | 10.4% | 7.9% | ||
| Q3 25 | 8.1% | 8.6% | ||
| Q2 25 | 7.9% | 8.5% | ||
| Q4 24 | — | 7.8% | ||
| Q2 24 | — | 10.9% | ||
| Q1 24 | — | 9.7% | ||
| Q4 23 | — | 10.6% | ||
| Q3 23 | — | 11.4% |
净利率DOCUMSM
| Q4 25 | 10.2% | 5.4% | ||
| Q3 25 | 7.9% | 5.8% | ||
| Q2 25 | 9.4% | 5.9% | ||
| Q4 24 | — | 5.0% | ||
| Q2 24 | — | 7.3% | ||
| Q1 24 | — | 6.6% | ||
| Q4 23 | — | 7.3% | ||
| Q3 23 | — | 8.5% |
每股收益（稀释后）DOCUMSM
| Q4 25 | $0.40 | $0.93 | ||
| Q3 25 | $0.30 | $1.02 | ||
| Q2 25 | $0.34 | $1.02 | ||
| Q4 24 | — | $0.83 | ||
| Q2 24 | — | $1.27 | ||
| Q1 24 | — | $1.10 | ||
| Q4 23 | — | $1.22 | ||
| Q3 23 | — | $1.56 |
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 | $40.3M |
| 总债务越低越好 | — | $214.1M |
| 股东权益账面价值 | $2.0B | $1.4B |
| 总资产 | $4.0B | $2.5B |
| 负债/权益比越低杠杆越低 | — | 0.16× |
8季度趋势，按日历期对齐
现金及短期投资DOCUMSM
| Q4 25 | $583.3M | $40.3M | ||
| Q3 25 | $600.0M | $56.2M | ||
| Q2 25 | $657.4M | $71.7M | ||
| Q4 24 | — | $57.3M | ||
| Q2 24 | — | $25.9M | ||
| Q1 24 | — | $22.2M | ||
| Q4 23 | — | $25.8M | ||
| Q3 23 | — | $50.1M |
总债务DOCUMSM
| Q4 25 | — | $214.1M | ||
| Q3 25 | — | $168.8M | ||
| Q2 25 | — | $285.0M | ||
| Q4 24 | — | $289.9M | ||
| Q2 24 | — | $299.8M | ||
| Q1 24 | — | $294.5M | ||
| Q4 23 | — | $294.4M | ||
| Q3 23 | — | $224.4M |
股东权益DOCUMSM
| Q4 25 | $2.0B | $1.4B | ||
| Q3 25 | $2.0B | $1.4B | ||
| Q2 25 | $2.0B | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.4B | ||
| Q4 23 | — | $1.4B | ||
| Q3 23 | — | $1.5B |
总资产DOCUMSM
| Q4 25 | $4.0B | $2.5B | ||
| Q3 25 | $3.9B | $2.5B | ||
| Q2 25 | $3.9B | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | — | $2.5B | ||
| Q4 23 | — | $2.5B | ||
| Q3 23 | — | $2.5B |
负债/权益比DOCUMSM
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.21× | ||
| Q4 24 | — | 0.21× | ||
| Q2 24 | — | 0.21× | ||
| Q1 24 | — | 0.21× | ||
| Q4 23 | — | 0.21× | ||
| Q3 23 | — | 0.15× |
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 | $29.4M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | $7.4M |
| 自由现金流率自由现金流/营收 | 32.1% | 0.8% |
| 资本支出强度资本支出/营收 | 3.3% | 2.3% |
| 现金转化率经营现金流/净利润 | 3.47× | 0.57× |
| 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DOCUMSM
| Q4 25 | $290.3M | $29.4M | ||
| Q3 25 | $246.1M | — | ||
| Q2 25 | $251.4M | $151.6M | ||
| Q4 24 | — | $101.9M | ||
| Q2 24 | — | $143.5M | ||
| Q1 24 | — | $78.7M | ||
| Q4 23 | — | $81.2M | ||
| Q3 23 | — | $132.5M |
自由现金流DOCUMSM
| Q4 25 | $262.9M | $7.4M | ||
| Q3 25 | $217.6M | — | ||
| Q2 25 | $227.8M | $100.7M | ||
| Q4 24 | — | $81.7M | ||
| Q2 24 | — | $114.0M | ||
| Q1 24 | — | $53.4M | ||
| Q4 23 | — | $62.7M | ||
| Q3 23 | — | $104.1M |
自由现金流率DOCUMSM
| Q4 25 | 32.1% | 0.8% | ||
| Q3 25 | 27.2% | — | ||
| Q2 25 | 29.8% | 10.4% | ||
| Q4 24 | — | 8.8% | ||
| Q2 24 | — | 11.6% | ||
| Q1 24 | — | 5.7% | ||
| Q4 23 | — | 6.6% | ||
| Q3 23 | — | 10.1% |
资本支出强度DOCUMSM
| Q4 25 | 3.3% | 2.3% | ||
| Q3 25 | 3.6% | — | ||
| Q2 25 | 3.1% | 5.2% | ||
| Q4 24 | — | 2.2% | ||
| Q2 24 | — | 3.0% | ||
| Q1 24 | — | 2.7% | ||
| Q4 23 | — | 1.9% | ||
| Q3 23 | — | 2.7% |
现金转化率DOCUMSM
| Q4 25 | 3.47× | 0.57× | ||
| Q3 25 | 3.91× | — | ||
| Q2 25 | 3.49× | 2.67× | ||
| Q4 24 | — | 2.18× | ||
| Q2 24 | — | 2.00× | ||
| Q1 24 | — | 1.27× | ||
| Q4 23 | — | 1.17× | ||
| Q3 23 | — | 1.51× |
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% |
MSM
暂无分部数据
