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DOCUSIGN, INC.（DOCU）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是DOCUSIGN, INC.的1.5倍（$1.2B vs $818.4M），DOCUSIGN, INC.净利率更高（10.2% vs 9.1%，领先1.1%），DOCUSIGN, INC.同比增速更快（8.4% vs 5.4%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $186.5M）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
DOCU vs RBA — 直观对比
营收规模更大
RBA
是对方的1.5倍
$818.4M
营收增速更快
DOCU
高出3.0%
5.4%
净利率更高
DOCU
高出1.1%
9.1%
自由现金流更多
DOCU
多$76.4M
$186.5M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $1.2B |
| 净利润 | $83.7M | $109.7M |
| 毛利率 | 79.2% | — |
| 营业利润率 | 10.4% | 14.7% |
| 净利率 | 10.2% | 9.1% |
| 营收同比 | 8.4% | 5.4% |
| 净利润同比 | 34.1% | -7.4% |
| 每股收益（稀释后） | $0.40 | $0.53 |
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DOCURBA
| Q4 25 | $818.4M | $1.2B | ||
| Q3 25 | $800.6M | $1.1B | ||
| Q2 25 | $763.7M | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $981.8M | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
净利润DOCURBA
| Q4 25 | $83.7M | $109.7M | ||
| Q3 25 | $63.0M | $95.5M | ||
| Q2 25 | $72.1M | $109.8M | ||
| Q1 25 | — | $113.4M | ||
| Q4 24 | — | $118.5M | ||
| Q3 24 | — | $76.1M | ||
| Q2 24 | — | $111.1M | ||
| Q1 24 | — | $107.4M |
毛利率DOCURBA
| 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DOCURBA
| Q4 25 | 10.4% | 14.7% | ||
| Q3 25 | 8.1% | 14.5% | ||
| Q2 25 | 7.9% | 15.9% | ||
| Q1 25 | — | 17.1% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 18.4% | ||
| Q1 24 | — | 18.7% |
净利率DOCURBA
| Q4 25 | 10.2% | 9.1% | ||
| Q3 25 | 7.9% | 8.7% | ||
| Q2 25 | 9.4% | 9.3% | ||
| Q1 25 | — | 10.2% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 10.1% | ||
| Q1 24 | — | 10.1% |
每股收益（稀释后）DOCURBA
| Q4 25 | $0.40 | $0.53 | ||
| Q3 25 | $0.30 | $0.43 | ||
| Q2 25 | $0.34 | $0.53 | ||
| Q1 25 | — | $0.55 | ||
| Q4 24 | — | $0.58 | ||
| Q3 24 | — | $0.36 | ||
| Q2 24 | — | $0.54 | ||
| Q1 24 | — | $0.53 |
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 | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $2.0B | $5.6B |
| 总资产 | $4.0B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资DOCURBA
| Q4 25 | $583.3M | $531.5M | ||
| Q3 25 | $600.0M | $674.7M | ||
| Q2 25 | $657.4M | $710.2M | ||
| Q1 25 | — | $578.1M | ||
| Q4 24 | — | $533.9M | ||
| Q3 24 | — | $650.7M | ||
| Q2 24 | — | $599.5M | ||
| Q1 24 | — | $462.8M |
总债务DOCURBA
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益DOCURBA
| Q4 25 | $2.0B | $5.6B | ||
| Q3 25 | $2.0B | $5.5B | ||
| Q2 25 | $2.0B | $5.5B | ||
| Q1 25 | — | $5.3B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.2B | ||
| Q1 24 | — | $5.1B |
总资产DOCURBA
| Q4 25 | $4.0B | $12.1B | ||
| Q3 25 | $3.9B | $12.2B | ||
| Q2 25 | $3.9B | $12.2B | ||
| Q1 25 | — | $11.9B | ||
| Q4 24 | — | $11.8B | ||
| Q3 24 | — | $11.9B | ||
| Q2 24 | — | $12.1B | ||
| Q1 24 | — | $12.0B |
负债/权益比DOCURBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | $186.5M |
| 自由现金流率自由现金流/营收 | 32.1% | 15.5% |
| 资本支出强度资本支出/营收 | 3.3% | 5.7% |
| 现金转化率经营现金流/净利润 | 3.47× | 2.33× |
| 过去12个月自由现金流最近4个季度 | — | $719.2M |
8季度趋势，按日历期对齐
经营现金流DOCURBA
| Q4 25 | $290.3M | $255.2M | ||
| Q3 25 | $246.1M | $239.7M | ||
| Q2 25 | $251.4M | $326.5M | ||
| Q1 25 | — | $156.8M | ||
| Q4 24 | — | $184.5M | ||
| Q3 24 | — | $285.4M | ||
| Q2 24 | — | $337.3M | ||
| Q1 24 | — | $124.8M |
自由现金流DOCURBA
| Q4 25 | $262.9M | $186.5M | ||
| Q3 25 | $217.6M | $188.5M | ||
| Q2 25 | $227.8M | $241.7M | ||
| Q1 25 | — | $102.5M | ||
| Q4 24 | — | $127.9M | ||
| Q3 24 | — | $248.5M | ||
| Q2 24 | — | $308.6M | ||
| Q1 24 | — | $79.6M |
自由现金流率DOCURBA
| Q4 25 | 32.1% | 15.5% | ||
| Q3 25 | 27.2% | 17.3% | ||
| Q2 25 | 29.8% | 20.4% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | 25.3% | ||
| Q2 24 | — | 28.2% | ||
| Q1 24 | — | 7.5% |
资本支出强度DOCURBA
| Q4 25 | 3.3% | 5.7% | ||
| Q3 25 | 3.6% | 4.7% | ||
| Q2 25 | 3.1% | 7.2% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | — | 4.2% |
现金转化率DOCURBA
| Q4 25 | 3.47× | 2.33× | ||
| Q3 25 | 3.91× | 2.51× | ||
| Q2 25 | 3.49× | 2.97× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 3.75× | ||
| Q2 24 | — | 3.04× | ||
| Q1 24 | — | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
