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DOCUSIGN, INC.（DOCU）与BOSTON BEER CO INC（SAM）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BOSTON BEER CO INC的1.8倍（$818.4M vs $461.6M），DOCUSIGN, INC.同比增速更快（8.4% vs -4.1%）
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。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
DOCU vs SAM — 直观对比
营收规模更大
DOCU
是对方的1.8倍
$461.6M
营收增速更快
DOCU
高出12.5%
-4.1%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $461.6M |
| 净利润 | $83.7M | — |
| 毛利率 | 79.2% | 46.4% |
| 营业利润率 | 10.4% | 12.4% |
| 净利率 | 10.2% | — |
| 营收同比 | 8.4% | -4.1% |
| 净利润同比 | 34.1% | — |
| 每股收益（稀释后） | $0.40 | $2.16 |
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DOCUSAM
| Q1 26 | — | $461.6M | ||
| Q4 25 | $818.4M | $385.7M | ||
| Q3 25 | $800.6M | $537.5M | ||
| Q2 25 | $763.7M | $587.9M | ||
| Q1 25 | — | $453.9M | ||
| Q4 24 | — | $402.3M | ||
| Q3 24 | — | $605.5M | ||
| Q2 24 | — | $579.1M |
净利润DOCUSAM
| Q1 26 | — | — | ||
| Q4 25 | $83.7M | $-22.5M | ||
| Q3 25 | $63.0M | $46.2M | ||
| Q2 25 | $72.1M | $60.4M | ||
| Q1 25 | — | $24.4M | ||
| Q4 24 | — | $-38.8M | ||
| Q3 24 | — | $33.5M | ||
| Q2 24 | — | $52.3M |
毛利率DOCUSAM
| Q1 26 | — | 46.4% | ||
| Q4 25 | 79.2% | 43.5% | ||
| Q3 25 | 79.3% | 50.8% | ||
| Q2 25 | 79.4% | 49.8% | ||
| Q1 25 | — | 48.3% | ||
| Q4 24 | — | 39.9% | ||
| Q3 24 | — | 46.3% | ||
| Q2 24 | — | 46.0% |
营业利润率DOCUSAM
| Q1 26 | — | 12.4% | ||
| Q4 25 | 10.4% | -8.6% | ||
| Q3 25 | 8.1% | 11.5% | ||
| Q2 25 | 7.9% | 14.0% | ||
| Q1 25 | — | 7.4% | ||
| Q4 24 | — | -13.9% | ||
| Q3 24 | — | 7.6% | ||
| Q2 24 | — | 12.2% |
净利率DOCUSAM
| Q1 26 | — | — | ||
| Q4 25 | 10.2% | -5.8% | ||
| Q3 25 | 7.9% | 8.6% | ||
| Q2 25 | 9.4% | 10.3% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | — | -9.6% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | 9.0% |
每股收益（稀释后）DOCUSAM
| Q1 26 | — | $2.16 | ||
| Q4 25 | $0.40 | $-1.97 | ||
| Q3 25 | $0.30 | $4.25 | ||
| Q2 25 | $0.34 | $5.45 | ||
| Q1 25 | — | $2.16 | ||
| Q4 24 | — | $-3.23 | ||
| Q3 24 | — | $2.86 | ||
| Q2 24 | — | $4.39 |
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 | $164.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.0B | $682.6M |
| 总资产 | $4.0B | $1.2B |
| 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DOCUSAM
| Q1 26 | — | $164.1M | ||
| Q4 25 | $583.3M | $223.4M | ||
| Q3 25 | $600.0M | $250.5M | ||
| Q2 25 | $657.4M | $212.4M | ||
| Q1 25 | — | $152.5M | ||
| Q4 24 | — | $211.8M | ||
| Q3 24 | — | $255.6M | ||
| Q2 24 | — | $219.3M |
股东权益DOCUSAM
| Q1 26 | — | $682.6M | ||
| Q4 25 | $2.0B | $846.3M | ||
| Q3 25 | $2.0B | $911.0M | ||
| Q2 25 | $2.0B | $912.3M | ||
| Q1 25 | — | $897.0M | ||
| Q4 24 | — | $916.2M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.0B |
总资产DOCUSAM
| Q1 26 | — | $1.2B | ||
| Q4 25 | $4.0B | $1.2B | ||
| Q3 25 | $3.9B | $1.2B | ||
| Q2 25 | $3.9B | $1.3B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B |
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 | — |
| 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× | — |
| 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DOCUSAM
| Q1 26 | — | — | ||
| Q4 25 | $290.3M | $39.9M | ||
| Q3 25 | $246.1M | $101.8M | ||
| Q2 25 | $251.4M | $126.5M | ||
| Q1 25 | — | $1.9M | ||
| Q4 24 | — | $41.9M | ||
| Q3 24 | — | $115.9M | ||
| Q2 24 | — | $96.0M |
自由现金流DOCUSAM
| Q1 26 | — | — | ||
| Q4 25 | $262.9M | $22.1M | ||
| Q3 25 | $217.6M | $89.2M | ||
| Q2 25 | $227.8M | $112.2M | ||
| Q1 25 | — | $-8.0M | ||
| Q4 24 | — | $18.4M | ||
| Q3 24 | — | $99.2M | ||
| Q2 24 | — | $75.6M |
自由现金流率DOCUSAM
| Q1 26 | — | — | ||
| Q4 25 | 32.1% | 5.7% | ||
| Q3 25 | 27.2% | 16.6% | ||
| Q2 25 | 29.8% | 19.1% | ||
| Q1 25 | — | -1.8% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | — | 16.4% | ||
| Q2 24 | — | 13.1% |
资本支出强度DOCUSAM
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 4.6% | ||
| Q3 25 | 3.6% | 2.3% | ||
| Q2 25 | 3.1% | 2.4% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 3.5% |
现金转化率DOCUSAM
| Q1 26 | — | — | ||
| Q4 25 | 3.47× | — | ||
| Q3 25 | 3.91× | 2.21× | ||
| Q2 25 | 3.49× | 2.09× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.46× | ||
| Q2 24 | — | 1.83× |
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% |
SAM
暂无分部数据
