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DOCUSIGN, INC.（DOCU）与SELECT MEDICAL HOLDINGS CORP（SEM）财务数据对比。点击上方公司名可切换其他公司
SELECT MEDICAL HOLDINGS CORP的季度营收约是DOCUSIGN, INC.的1.7倍（$1.4B vs $818.4M），DOCUSIGN, INC.净利率更高（10.2% vs 1.4%，领先8.8%），DOCUSIGN, INC.同比增速更快（8.4% vs 6.4%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $5.2M）
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。
Select Medical是总部位于美国宾夕法尼亚州的医疗健康企业，业务涵盖长期急症护理、住院康复医院运营，同时开设有职业健康与物理治疗诊所，母公司Select Medical Holdings在纽约证券交易所挂牌上市。
DOCU vs SEM — 直观对比
营收规模更大
SEM
是对方的1.7倍
$818.4M
营收增速更快
DOCU
高出2.0%
6.4%
净利率更高
DOCU
高出8.8%
1.4%
自由现金流更多
DOCU
多$257.7M
$5.2M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $1.4B |
| 净利润 | $83.7M | $20.2M |
| 毛利率 | 79.2% | — |
| 营业利润率 | 10.4% | 4.6% |
| 净利率 | 10.2% | 1.4% |
| 营收同比 | 8.4% | 6.4% |
| 净利润同比 | 34.1% | 225.7% |
| 每股收益（稀释后） | $0.40 | $0.17 |
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DOCUSEM
| Q4 25 | $818.4M | $1.4B | ||
| Q3 25 | $800.6M | $1.4B | ||
| Q2 25 | $763.7M | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.3B |
净利润DOCUSEM
| Q4 25 | $83.7M | $20.2M | ||
| Q3 25 | $63.0M | $28.8M | ||
| Q2 25 | $72.1M | $40.6M | ||
| Q1 25 | — | $56.7M | ||
| Q4 24 | — | $-16.1M | ||
| Q3 24 | — | $55.6M | ||
| Q2 24 | — | $77.6M | ||
| Q1 24 | — | $96.9M |
毛利率DOCUSEM
| 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DOCUSEM
| Q4 25 | 10.4% | 4.6% | ||
| Q3 25 | 8.1% | 5.4% | ||
| Q2 25 | 7.9% | 6.5% | ||
| Q1 25 | — | 8.3% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 4.3% | ||
| Q2 24 | — | 5.8% | ||
| Q1 24 | — | 9.0% |
净利率DOCUSEM
| Q4 25 | 10.2% | 1.4% | ||
| Q3 25 | 7.9% | 2.1% | ||
| Q2 25 | 9.4% | 3.0% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | -1.2% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | — | 6.1% | ||
| Q1 24 | — | 7.3% |
每股收益（稀释后）DOCUSEM
| Q4 25 | $0.40 | $0.17 | ||
| Q3 25 | $0.30 | $0.23 | ||
| Q2 25 | $0.34 | $0.32 | ||
| Q1 25 | — | $0.44 | ||
| Q4 24 | — | $-0.12 | ||
| Q3 24 | — | $0.43 | ||
| Q2 24 | — | $0.60 | ||
| Q1 24 | — | $0.75 |
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 | $26.5M |
| 总债务越低越好 | — | $1.8B |
| 股东权益账面价值 | $2.0B | $1.7B |
| 总资产 | $4.0B | $5.9B |
| 负债/权益比越低杠杆越低 | — | 1.06× |
8季度趋势，按日历期对齐
现金及短期投资DOCUSEM
| Q4 25 | $583.3M | $26.5M | ||
| Q3 25 | $600.0M | $60.1M | ||
| Q2 25 | $657.4M | $52.3M | ||
| Q1 25 | — | $53.2M | ||
| Q4 24 | — | $59.7M | ||
| Q3 24 | — | $191.5M | ||
| Q2 24 | — | $111.2M | ||
| Q1 24 | — | $92.6M |
总债务DOCUSEM
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.6B | ||
| Q1 24 | — | $3.8B |
股东权益DOCUSEM
| Q4 25 | $2.0B | $1.7B | ||
| Q3 25 | $2.0B | $1.7B | ||
| Q2 25 | $2.0B | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.4B |
总资产DOCUSEM
| Q4 25 | $4.0B | $5.9B | ||
| Q3 25 | $3.9B | $5.7B | ||
| Q2 25 | $3.9B | $5.7B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | — | $5.6B | ||
| Q3 24 | — | $8.0B | ||
| Q2 24 | — | $7.9B | ||
| Q1 24 | — | $7.9B |
负债/权益比DOCUSEM
| Q4 25 | — | 1.06× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 1.10× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | — | 1.01× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | 2.54× | ||
| Q1 24 | — | 2.75× |
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 | $64.3M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | $5.2M |
| 自由现金流率自由现金流/营收 | 32.1% | 0.4% |
| 资本支出强度资本支出/营收 | 3.3% | 4.2% |
| 现金转化率经营现金流/净利润 | 3.47× | 3.19× |
| 过去12个月自由现金流最近4个季度 | — | $117.2M |
8季度趋势，按日历期对齐
经营现金流DOCUSEM
| Q4 25 | $290.3M | $64.3M | ||
| Q3 25 | $246.1M | $175.3M | ||
| Q2 25 | $251.4M | $110.3M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $125.4M | ||
| Q3 24 | — | $181.0M | ||
| Q2 24 | — | $278.2M | ||
| Q1 24 | — | $-66.7M |
自由现金流DOCUSEM
| Q4 25 | $262.9M | $5.2M | ||
| Q3 25 | $217.6M | $122.2M | ||
| Q2 25 | $227.8M | $45.6M | ||
| Q1 25 | — | $-55.8M | ||
| Q4 24 | — | $62.0M | ||
| Q3 24 | — | $130.3M | ||
| Q2 24 | — | $222.6M | ||
| Q1 24 | — | $-119.2M |
自由现金流率DOCUSEM
| Q4 25 | 32.1% | 0.4% | ||
| Q3 25 | 27.2% | 9.0% | ||
| Q2 25 | 29.8% | 3.4% | ||
| Q1 25 | — | -4.1% | ||
| Q4 24 | — | 4.7% | ||
| Q3 24 | — | 10.2% | ||
| Q2 24 | — | 17.4% | ||
| Q1 24 | — | -9.0% |
资本支出强度DOCUSEM
| Q4 25 | 3.3% | 4.2% | ||
| Q3 25 | 3.6% | 3.9% | ||
| Q2 25 | 3.1% | 4.8% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | — | 4.8% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | — | 4.3% | ||
| Q1 24 | — | 4.0% |
现金转化率DOCUSEM
| Q4 25 | 3.47× | 3.19× | ||
| Q3 25 | 3.91× | 6.09× | ||
| Q2 25 | 3.49× | 2.72× | ||
| Q1 25 | — | -0.06× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.25× | ||
| Q2 24 | — | 3.59× | ||
| Q1 24 | — | -0.69× |
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% |
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
