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DOCUSIGN, INC.（DOCU）与VinFast Auto Ltd.（VFS）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VinFast Auto Ltd.的1.1倍（$818.4M vs $718.6M），DOCUSIGN, INC.净利率更高（10.2% vs -2.8%，领先13.0%）
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。
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
DOCU vs VFS — 直观对比
营收规模更大
DOCU
是对方的1.1倍
$718.6M
净利率更高
DOCU
高出13.0%
-2.8%
损益表 — Q3 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $718.6M |
| 净利润 | $83.7M | $-20.0M |
| 毛利率 | 79.2% | — |
| 营业利润率 | 10.4% | -96.1% |
| 净利率 | 10.2% | -2.8% |
| 营收同比 | 8.4% | — |
| 净利润同比 | 34.1% | — |
| 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DOCUVFS
| Q4 25 | $818.4M | — | ||
| Q3 25 | $800.6M | $718.6M | ||
| Q2 25 | $763.7M | $663.0M | ||
| Q1 25 | — | $656.5M | ||
| Q3 24 | — | $511.6M | ||
| Q1 24 | — | $302.6M |
净利润DOCUVFS
| Q4 25 | $83.7M | — | ||
| Q3 25 | $63.0M | $-20.0M | ||
| Q2 25 | $72.1M | $-51.8M | ||
| Q1 25 | — | $-26.1M | ||
| Q3 24 | — | $-10.4M | ||
| Q1 24 | — | $-618.3M |
毛利率DOCUVFS
| Q4 25 | 79.2% | — | ||
| Q3 25 | 79.3% | — | ||
| Q2 25 | 79.4% | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — |
营业利润率DOCUVFS
| Q4 25 | 10.4% | — | ||
| Q3 25 | 8.1% | -96.1% | ||
| Q2 25 | 7.9% | -79.0% | ||
| Q1 25 | — | -74.0% | ||
| Q3 24 | — | -65.9% | ||
| Q1 24 | — | -139.4% |
净利率DOCUVFS
| Q4 25 | 10.2% | — | ||
| Q3 25 | 7.9% | -2.8% | ||
| Q2 25 | 9.4% | -7.8% | ||
| Q1 25 | — | -4.0% | ||
| Q3 24 | — | -2.0% | ||
| Q1 24 | — | -204.3% |
每股收益（稀释后）DOCUVFS
| Q4 25 | $0.40 | — | ||
| Q3 25 | $0.30 | — | ||
| Q2 25 | $0.34 | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — |
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 | $8.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.0B | — |
| 总资产 | $4.0B | $183.2M |
| 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DOCUVFS
| Q4 25 | $583.3M | — | ||
| Q3 25 | $600.0M | $8.8M | ||
| Q2 25 | $657.4M | $650.0M | ||
| Q1 25 | — | $2.4M | ||
| Q3 24 | — | $1.9M | ||
| Q1 24 | — | $3.0M |
股东权益DOCUVFS
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | $-7.2B | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — |
总资产DOCUVFS
| Q4 25 | $4.0B | — | ||
| Q3 25 | $3.9B | $183.2M | ||
| Q2 25 | $3.9B | $7.2B | ||
| Q1 25 | — | $158.2M | ||
| Q3 24 | — | $151.8M | ||
| Q1 24 | — | $145.6M |
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DOCUVFS
| Q4 25 | $290.3M | — | ||
| Q3 25 | $246.1M | — | ||
| Q2 25 | $251.4M | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — |
自由现金流DOCUVFS
| Q4 25 | $262.9M | — | ||
| Q3 25 | $217.6M | — | ||
| Q2 25 | $227.8M | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率DOCUVFS
| Q4 25 | 32.1% | — | ||
| Q3 25 | 27.2% | — | ||
| Q2 25 | 29.8% | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度DOCUVFS
| Q4 25 | 3.3% | — | ||
| Q3 25 | 3.6% | — | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — |
现金转化率DOCUVFS
| Q4 25 | 3.47× | — | ||
| Q3 25 | 3.91× | — | ||
| Q2 25 | 3.49× | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — |
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% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
