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DOCUSIGN, INC.（DOCU）与STEPAN CO（SCL）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STEPAN CO的1.4倍（$818.4M vs $604.5M），DOCUSIGN, INC.净利率更高（10.2% vs 3.3%，领先7.0%），DOCUSIGN, INC.同比增速更快（8.4% vs 1.9%）
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。
斯特潘公司是一家美国特种化学品制造商，总部位于伊利诺伊州诺斯布鲁克，1932年由小阿尔弗雷德·C·斯特潘创立，现有约2000名员工，目前由创始人的孙子小F·奎因·斯特潘执掌。该公司是全球最大的阴离子表面活性剂商品生产商，产品用于提升洗涤剂、洗发水、牙膏及化妆品的起泡与清洁能力。
DOCU vs SCL — 直观对比
营收规模更大
DOCU
是对方的1.4倍
$604.5M
营收增速更快
DOCU
高出6.5%
1.9%
净利率更高
DOCU
高出7.0%
3.3%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $604.5M |
| 净利润 | $83.7M | $19.7M |
| 毛利率 | 79.2% | 10.7% |
| 营业利润率 | 10.4% | 4.7% |
| 净利率 | 10.2% | 3.3% |
| 营收同比 | 8.4% | 1.9% |
| 净利润同比 | 34.1% | — |
| 每股收益（稀释后） | $0.40 | $0.86 |
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DOCUSCL
| Q1 26 | — | $604.5M | ||
| Q4 25 | $818.4M | $553.9M | ||
| Q3 25 | $800.6M | $590.3M | ||
| Q2 25 | $763.7M | $594.7M | ||
| Q1 25 | — | $593.3M | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | $546.8M | ||
| Q2 24 | — | $556.4M |
净利润DOCUSCL
| Q1 26 | — | $19.7M | ||
| Q4 25 | $83.7M | $5.0M | ||
| Q3 25 | $63.0M | $10.8M | ||
| Q2 25 | $72.1M | $11.3M | ||
| Q1 25 | — | $19.7M | ||
| Q4 24 | — | $3.4M | ||
| Q3 24 | — | $23.6M | ||
| Q2 24 | — | $9.5M |
毛利率DOCUSCL
| Q1 26 | — | 10.7% | ||
| Q4 25 | 79.2% | 9.3% | ||
| Q3 25 | 79.3% | 12.0% | ||
| Q2 25 | 79.4% | 12.1% | ||
| Q1 25 | — | 12.7% | ||
| Q4 24 | — | 10.8% | ||
| Q3 24 | — | 13.8% | ||
| Q2 24 | — | 12.5% |
营业利润率DOCUSCL
| Q1 26 | — | 4.7% | ||
| Q4 25 | 10.4% | 1.9% | ||
| Q3 25 | 8.1% | 3.7% | ||
| Q2 25 | 7.9% | 3.0% | ||
| Q1 25 | — | 4.8% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | — | 3.4% |
净利率DOCUSCL
| Q1 26 | — | 3.3% | ||
| Q4 25 | 10.2% | 0.9% | ||
| Q3 25 | 7.9% | 1.8% | ||
| Q2 25 | 9.4% | 1.9% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 4.3% | ||
| Q2 24 | — | 1.7% |
每股收益（稀释后）DOCUSCL
| Q1 26 | — | $0.86 | ||
| Q4 25 | $0.40 | $0.22 | ||
| Q3 25 | $0.30 | $0.47 | ||
| Q2 25 | $0.34 | $0.50 | ||
| Q1 25 | — | $0.86 | ||
| Q4 24 | — | $0.14 | ||
| Q3 24 | — | $1.03 | ||
| Q2 24 | — | $0.42 |
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 | — |
| 总债务越低越好 | — | $328.4M |
| 股东权益账面价值 | $2.0B | $1.2B |
| 总资产 | $4.0B | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资DOCUSCL
| Q1 26 | — | — | ||
| Q4 25 | $583.3M | $132.7M | ||
| Q3 25 | $600.0M | $118.5M | ||
| Q2 25 | $657.4M | $88.9M | ||
| Q1 25 | — | $107.5M | ||
| Q4 24 | — | $99.7M | ||
| Q3 24 | — | $147.3M | ||
| Q2 24 | — | $124.7M |
总债务DOCUSCL
| Q1 26 | — | $328.4M | ||
| Q4 25 | — | $626.7M | ||
| Q3 25 | — | $655.5M | ||
| Q2 25 | — | $658.0M | ||
| Q1 25 | — | $659.3M | ||
| Q4 24 | — | $625.4M | ||
| Q3 24 | — | $688.5M | ||
| Q2 24 | — | $657.1M |
股东权益DOCUSCL
| Q1 26 | — | $1.2B | ||
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $2.0B | $1.2B | ||
| Q2 25 | $2.0B | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B |
总资产DOCUSCL
| Q1 26 | — | $2.3B | ||
| Q4 25 | $4.0B | $2.4B | ||
| Q3 25 | $3.9B | $2.4B | ||
| Q2 25 | $3.9B | $2.4B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.3B |
负债/权益比DOCUSCL
| Q1 26 | — | 0.28× | ||
| Q4 25 | — | 0.50× | ||
| Q3 25 | — | 0.53× | ||
| Q2 25 | — | 0.53× | ||
| Q1 25 | — | 0.55× | ||
| Q4 24 | — | 0.53× | ||
| Q3 24 | — | 0.56× | ||
| Q2 24 | — | 0.55× |
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DOCUSCL
| Q1 26 | — | — | ||
| Q4 25 | $290.3M | $60.0M | ||
| Q3 25 | $246.1M | $69.8M | ||
| Q2 25 | $251.4M | $11.2M | ||
| Q1 25 | — | $6.9M | ||
| Q4 24 | — | $68.3M | ||
| Q3 24 | — | $22.7M | ||
| Q2 24 | — | $29.5M |
自由现金流DOCUSCL
| Q1 26 | — | — | ||
| Q4 25 | $262.9M | $25.4M | ||
| Q3 25 | $217.6M | $40.2M | ||
| Q2 25 | $227.8M | $-14.4M | ||
| Q1 25 | — | $-25.8M | ||
| Q4 24 | — | $32.1M | ||
| Q3 24 | — | $-4.0M | ||
| Q2 24 | — | $-208.0K |
自由现金流率DOCUSCL
| Q1 26 | — | — | ||
| Q4 25 | 32.1% | 4.6% | ||
| Q3 25 | 27.2% | 6.8% | ||
| Q2 25 | 29.8% | -2.4% | ||
| Q1 25 | — | -4.3% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | -0.7% | ||
| Q2 24 | — | -0.0% |
资本支出强度DOCUSCL
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 6.3% | ||
| Q3 25 | 3.6% | 5.0% | ||
| Q2 25 | 3.1% | 4.3% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | — | 6.9% | ||
| Q3 24 | — | 4.9% | ||
| Q2 24 | — | 5.3% |
现金转化率DOCUSCL
| Q1 26 | — | — | ||
| Q4 25 | 3.47× | 11.99× | ||
| Q3 25 | 3.91× | 6.44× | ||
| Q2 25 | 3.49× | 0.99× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | — | 20.38× | ||
| Q3 24 | — | 0.96× | ||
| Q2 24 | — | 3.10× |
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% |
SCL
| Surfactants | $453.7M | 75% |
| Polymers | $130.0M | 22% |
| Specialty Products | $20.8M | 3% |
