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DOCUSIGN, INC.（DOCU）与STEWART INFORMATION SERVICES CORP（STC）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STEWART INFORMATION SERVICES CORP的1.1倍（$818.4M vs $764.6M），DOCUSIGN, INC.净利率更高（10.2% vs 2.2%，领先8.0%），STEWART INFORMATION SERVICES CORP同比增速更快（27.7% vs 8.4%）
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。
斯图尔特信息服务公司（STC）是一家主营房地产信息、产权保险及交易管理服务的企业，旗下全资子公司斯图尔特产权担保公司、斯图尔特产权公司通过直营网点、斯图尔特可信供应商网络内的独立代理机构及合作企业，为美国及全球市场提供相关产品与服务，总部位于得克萨斯州休斯敦，现有员工约6350人。
DOCU vs STC — 直观对比
营收规模更大
DOCU
是对方的1.1倍
$764.6M
营收增速更快
STC
高出19.2%
8.4%
净利率更高
DOCU
高出8.0%
2.2%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $764.6M |
| 净利润 | $83.7M | $17.0M |
| 毛利率 | 79.2% | — |
| 营业利润率 | 10.4% | — |
| 净利率 | 10.2% | 2.2% |
| 营收同比 | 8.4% | 27.7% |
| 净利润同比 | 34.1% | 448.4% |
| 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DOCUSTC
| Q1 26 | — | $764.6M | ||
| Q4 25 | $818.4M | $790.6M | ||
| Q3 25 | $800.6M | $796.9M | ||
| Q2 25 | $763.7M | $722.2M | ||
| Q1 25 | — | $612.0M | ||
| Q4 24 | — | $665.9M | ||
| Q3 24 | — | $667.9M | ||
| Q2 24 | — | $602.2M |
净利润DOCUSTC
| Q1 26 | — | $17.0M | ||
| Q4 25 | $83.7M | $36.3M | ||
| Q3 25 | $63.0M | $44.3M | ||
| Q2 25 | $72.1M | $31.9M | ||
| Q1 25 | — | $3.1M | ||
| Q4 24 | — | $22.7M | ||
| Q3 24 | — | $30.1M | ||
| Q2 24 | — | $17.3M |
毛利率DOCUSTC
| Q1 26 | — | — | ||
| Q4 25 | 79.2% | — | ||
| Q3 25 | 79.3% | — | ||
| Q2 25 | 79.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率DOCUSTC
| Q1 26 | — | — | ||
| Q4 25 | 10.4% | 6.5% | ||
| Q3 25 | 8.1% | 7.7% | ||
| Q2 25 | 7.9% | 6.5% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 5.3% | ||
| Q3 24 | — | 6.4% | ||
| Q2 24 | — | 4.8% |
净利率DOCUSTC
| Q1 26 | — | 2.2% | ||
| Q4 25 | 10.2% | 4.6% | ||
| Q3 25 | 7.9% | 5.6% | ||
| Q2 25 | 9.4% | 4.4% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | — | 2.9% |
每股收益（稀释后）DOCUSTC
| Q1 26 | — | — | ||
| Q4 25 | $0.40 | $1.26 | ||
| Q3 25 | $0.30 | $1.55 | ||
| Q2 25 | $0.34 | $1.13 | ||
| Q1 25 | — | $0.11 | ||
| Q4 24 | — | $0.81 | ||
| Q3 24 | — | $1.07 | ||
| Q2 24 | — | $0.62 |
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 | $317.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.0B | — |
| 总资产 | $4.0B | — |
| 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DOCUSTC
| Q1 26 | — | $317.5M | ||
| Q4 25 | $583.3M | $369.7M | ||
| Q3 25 | $600.0M | $233.2M | ||
| Q2 25 | $657.4M | $223.8M | ||
| Q1 25 | — | $194.2M | ||
| Q4 24 | — | $257.5M | ||
| Q3 24 | — | $228.7M | ||
| Q2 24 | — | $176.7M |
总债务DOCUSTC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $445.8M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益DOCUSTC
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $1.6B | ||
| Q3 25 | $2.0B | $1.5B | ||
| Q2 25 | $2.0B | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B |
总资产DOCUSTC
| Q1 26 | — | — | ||
| Q4 25 | $4.0B | $3.3B | ||
| Q3 25 | $3.9B | $2.8B | ||
| Q2 25 | $3.9B | $2.8B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.6B |
负债/权益比DOCUSTC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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DOCUSTC
| Q1 26 | — | — | ||
| Q4 25 | $290.3M | $89.5M | ||
| Q3 25 | $246.1M | $92.6M | ||
| Q2 25 | $251.4M | $53.4M | ||
| Q1 25 | — | $-29.9M | ||
| Q4 24 | — | $68.0M | ||
| Q3 24 | — | $76.1M | ||
| Q2 24 | — | $21.1M |
自由现金流DOCUSTC
| Q1 26 | — | — | ||
| Q4 25 | $262.9M | $62.3M | ||
| Q3 25 | $217.6M | $73.6M | ||
| Q2 25 | $227.8M | $38.7M | ||
| Q1 25 | — | $-42.2M | ||
| Q4 24 | — | $55.6M | ||
| Q3 24 | — | $67.4M | ||
| Q2 24 | — | $11.9M |
自由现金流率DOCUSTC
| Q1 26 | — | — | ||
| Q4 25 | 32.1% | 7.9% | ||
| Q3 25 | 27.2% | 9.2% | ||
| Q2 25 | 29.8% | 5.4% | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | — | 8.4% | ||
| Q3 24 | — | 10.1% | ||
| Q2 24 | — | 2.0% |
资本支出强度DOCUSTC
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 3.4% | ||
| Q3 25 | 3.6% | 2.4% | ||
| Q2 25 | 3.1% | 2.0% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 1.5% |
现金转化率DOCUSTC
| Q1 26 | — | — | ||
| Q4 25 | 3.47× | 2.47× | ||
| Q3 25 | 3.91× | 2.09× | ||
| Q2 25 | 3.49× | 1.67× | ||
| Q1 25 | — | -9.73× | ||
| Q4 24 | — | 2.99× | ||
| Q3 24 | — | 2.53× | ||
| Q2 24 | — | 1.22× |
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% |
STC
| Agency title | $333.0M | 44% |
| Direct title | $270.2M | 35% |
| Real estate solutions | $161.4M | 21% |
