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DOCUSIGN, INC.（DOCU）与NGL Energy Partners LP（NGL）财务数据对比。点击上方公司名可切换其他公司
NGL Energy Partners LP的季度营收约是DOCUSIGN, INC.的1.1倍（$909.8M vs $818.4M），DOCUSIGN, INC.净利率更高（10.2% vs 5.2%，领先5.0%），DOCUSIGN, INC.同比增速更快（8.4% vs -41.3%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $45.7M）
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。
NGL Energy Partners LP是一家总部位于美国的中游能源服务企业，主营原油、液化天然气、可再生燃料的运输、存储及物流服务，同时为上游能源生产商提供水资源管理解决方案，业务主要覆盖北美市场。
DOCU vs NGL — 直观对比
营收规模更大
NGL
是对方的1.1倍
$818.4M
营收增速更快
DOCU
高出49.7%
-41.3%
净利率更高
DOCU
高出5.0%
5.2%
自由现金流更多
DOCU
多$217.2M
$45.7M
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $909.8M |
| 净利润 | $83.7M | $47.2M |
| 毛利率 | 79.2% | 29.0% |
| 营业利润率 | 10.4% | 12.1% |
| 净利率 | 10.2% | 5.2% |
| 营收同比 | 8.4% | -41.3% |
| 净利润同比 | 34.1% | 249.3% |
| 每股收益（稀释后） | $0.40 | — |
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DOCUNGL
| Q4 25 | $818.4M | $909.8M | ||
| Q3 25 | $800.6M | $674.7M | ||
| Q2 25 | $763.7M | $622.2M | ||
| Q1 25 | — | $971.1M | ||
| Q4 24 | — | $982.4M | ||
| Q3 24 | — | $756.5M | ||
| Q2 24 | — | $759.2M | ||
| Q1 24 | — | $1.0B |
净利润DOCUNGL
| Q4 25 | $83.7M | $47.2M | ||
| Q3 25 | $63.0M | $29.3M | ||
| Q2 25 | $72.1M | $68.9M | ||
| Q1 25 | — | $13.7M | ||
| Q4 24 | — | $13.5M | ||
| Q3 24 | — | $2.5M | ||
| Q2 24 | — | $9.7M | ||
| Q1 24 | — | $-236.8M |
毛利率DOCUNGL
| Q4 25 | 79.2% | 29.0% | ||
| Q3 25 | 79.3% | 37.6% | ||
| Q2 25 | 79.4% | 38.5% | ||
| Q1 25 | — | 26.9% | ||
| Q4 24 | — | 25.1% | ||
| Q3 24 | — | 30.9% | ||
| Q2 24 | — | 29.0% | ||
| Q1 24 | — | 21.8% |
营业利润率DOCUNGL
| Q4 25 | 10.4% | 12.1% | ||
| Q3 25 | 8.1% | 14.0% | ||
| Q2 25 | 7.9% | 15.7% | ||
| Q1 25 | — | 8.4% | ||
| Q4 24 | — | 8.6% | ||
| Q3 24 | — | 10.8% | ||
| Q2 24 | — | 10.8% | ||
| Q1 24 | — | -9.4% |
净利率DOCUNGL
| Q4 25 | 10.2% | 5.2% | ||
| Q3 25 | 7.9% | 4.3% | ||
| Q2 25 | 9.4% | 11.1% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | -22.8% |
每股收益（稀释后）DOCUNGL
| Q4 25 | $0.40 | — | ||
| Q3 25 | $0.30 | — | ||
| Q2 25 | $0.34 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $6.5M |
| 总债务越低越好 | — | $2.9B |
| 股东权益账面价值 | $2.0B | — |
| 总资产 | $4.0B | $4.4B |
| 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DOCUNGL
| Q4 25 | $583.3M | $6.5M | ||
| Q3 25 | $600.0M | $8.7M | ||
| Q2 25 | $657.4M | $5.4M | ||
| Q1 25 | — | $13.5M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $4.5M | ||
| Q2 24 | — | $5.3M | ||
| Q1 24 | — | $38.9M |
总债务DOCUNGL
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $2.9B |
股东权益DOCUNGL
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
总资产DOCUNGL
| Q4 25 | $4.0B | $4.4B | ||
| Q3 25 | $3.9B | $4.3B | ||
| Q2 25 | $3.9B | $4.2B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | — | $4.8B | ||
| Q3 24 | — | $4.9B | ||
| Q2 24 | — | $4.8B | ||
| Q1 24 | — | $5.0B |
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 | $182.3M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | $45.7M |
| 自由现金流率自由现金流/营收 | 32.1% | 5.0% |
| 资本支出强度资本支出/营收 | 3.3% | 15.0% |
| 现金转化率经营现金流/净利润 | 3.47× | 3.86× |
| 过去12个月自由现金流最近4个季度 | — | $126.7M |
8季度趋势，按日历期对齐
经营现金流DOCUNGL
| Q4 25 | $290.3M | $182.3M | ||
| Q3 25 | $246.1M | $40.5M | ||
| Q2 25 | $251.4M | $33.2M | ||
| Q1 25 | — | $155.0M | ||
| Q4 24 | — | $153.8M | ||
| Q3 24 | — | $6.7M | ||
| Q2 24 | — | $-18.1M | ||
| Q1 24 | — | $152.2M |
自由现金流DOCUNGL
| Q4 25 | $262.9M | $45.7M | ||
| Q3 25 | $217.6M | $9.5M | ||
| Q2 25 | $227.8M | $11.1M | ||
| Q1 25 | — | $60.4M | ||
| Q4 24 | — | $152.1M | ||
| Q3 24 | — | $-82.9M | ||
| Q2 24 | — | $-78.0M | ||
| Q1 24 | — | $119.8M |
自由现金流率DOCUNGL
| Q4 25 | 32.1% | 5.0% | ||
| Q3 25 | 27.2% | 1.4% | ||
| Q2 25 | 29.8% | 1.8% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 15.5% | ||
| Q3 24 | — | -11.0% | ||
| Q2 24 | — | -10.3% | ||
| Q1 24 | — | 11.5% |
资本支出强度DOCUNGL
| Q4 25 | 3.3% | 15.0% | ||
| Q3 25 | 3.6% | 4.6% | ||
| Q2 25 | 3.1% | 3.6% | ||
| Q1 25 | — | 9.7% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 11.8% | ||
| Q2 24 | — | 7.9% | ||
| Q1 24 | — | 3.1% |
现金转化率DOCUNGL
| Q4 25 | 3.47× | 3.86× | ||
| Q3 25 | 3.91× | 1.38× | ||
| Q2 25 | 3.49× | 0.48× | ||
| Q1 25 | — | 11.29× | ||
| Q4 24 | — | 11.39× | ||
| Q3 24 | — | 2.74× | ||
| Q2 24 | — | -1.87× | ||
| Q1 24 | — | — |
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% |
NGL
| Water Solutions Segment | $208.6M | 23% |
| Services | $193.3M | 21% |
| Butane | $192.5M | 21% |
| Service Fees | $182.8M | 20% |
| Public Utilities Inventory Propane | $93.9M | 10% |
| Crude Oil | $23.3M | 3% |
| Crude Oil Transportation And Other | $6.5M | 1% |
| Liquids Logistics Segment | $2.5M | 0% |
| Crude Oil Logistics Segment | $1.2M | 0% |
