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DOCUSIGN, INC.（DOCU）与威世（VSH）财务数据对比。点击上方公司名可切换其他公司
DOCUSIGN, INC.的季度营收约是威世的1.0倍（$818.4M vs $800.9M），DOCUSIGN, INC.净利率更高（10.2% vs 0.1%，领先10.1%），威世同比增速更快（12.1% vs 8.4%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $54.6M）
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。
威世（Vishay Intertechnology）是美国知名的分立半导体与被动电子元器件制造商，由企业家菲利克斯·赞德曼创立。公司在以色列、亚洲、欧洲、美洲均设有生产基地，产品覆盖整流器、二极管、MOSFET、光电器件、精选集成电路、电阻器、电容器、电感器等品类，2024年营收达29亿美元，全球全职员工约2.27万人。
DOCU vs VSH — 直观对比
营收规模更大
DOCU
是对方的1.0倍
$800.9M
营收增速更快
VSH
高出3.6%
8.4%
净利率更高
DOCU
高出10.1%
0.1%
自由现金流更多
DOCU
多$208.3M
$54.6M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $800.9M |
| 净利润 | $83.7M | $986.0K |
| 毛利率 | 79.2% | 19.6% |
| 营业利润率 | 10.4% | 1.8% |
| 净利率 | 10.2% | 0.1% |
| 营收同比 | 8.4% | 12.1% |
| 净利润同比 | 34.1% | 101.5% |
| 每股收益（稀释后） | $0.40 | $0.01 |
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DOCUVSH
| Q4 25 | $818.4M | $800.9M | ||
| Q3 25 | $800.6M | $790.6M | ||
| Q2 25 | $763.7M | $762.3M | ||
| Q1 25 | — | $715.2M | ||
| Q4 24 | — | $714.7M | ||
| Q3 24 | — | $735.4M | ||
| Q2 24 | — | $741.2M | ||
| Q1 24 | — | $746.3M |
净利润DOCUVSH
| Q4 25 | $83.7M | $986.0K | ||
| Q3 25 | $63.0M | $-7.9M | ||
| Q2 25 | $72.1M | $2.0M | ||
| Q1 25 | — | $-4.1M | ||
| Q4 24 | — | $-66.1M | ||
| Q3 24 | — | $-19.3M | ||
| Q2 24 | — | $23.5M | ||
| Q1 24 | — | $30.9M |
毛利率DOCUVSH
| Q4 25 | 79.2% | 19.6% | ||
| Q3 25 | 79.3% | 19.5% | ||
| Q2 25 | 79.4% | 19.5% | ||
| Q1 25 | — | 19.0% | ||
| Q4 24 | — | 19.9% | ||
| Q3 24 | — | 20.5% | ||
| Q2 24 | — | 22.0% | ||
| Q1 24 | — | 22.8% |
营业利润率DOCUVSH
| Q4 25 | 10.4% | 1.8% | ||
| Q3 25 | 8.1% | 2.4% | ||
| Q2 25 | 7.9% | 2.9% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | -7.9% | ||
| Q3 24 | — | -2.5% | ||
| Q2 24 | — | 5.1% | ||
| Q1 24 | — | 5.7% |
净利率DOCUVSH
| Q4 25 | 10.2% | 0.1% | ||
| Q3 25 | 7.9% | -1.0% | ||
| Q2 25 | 9.4% | 0.3% | ||
| Q1 25 | — | -0.6% | ||
| Q4 24 | — | -9.2% | ||
| Q3 24 | — | -2.6% | ||
| Q2 24 | — | 3.2% | ||
| Q1 24 | — | 4.1% |
每股收益（稀释后）DOCUVSH
| Q4 25 | $0.40 | $0.01 | ||
| Q3 25 | $0.30 | $-0.06 | ||
| Q2 25 | $0.34 | $0.01 | ||
| Q1 25 | — | $-0.03 | ||
| Q4 24 | — | $-0.48 | ||
| Q3 24 | — | $-0.14 | ||
| Q2 24 | — | $0.17 | ||
| Q1 24 | — | $0.22 |
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 | $515.0M |
| 总债务越低越好 | — | $950.9M |
| 股东权益账面价值 | $2.0B | $2.1B |
| 总资产 | $4.0B | $4.2B |
| 负债/权益比越低杠杆越低 | — | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资DOCUVSH
| Q4 25 | $583.3M | $515.0M | ||
| Q3 25 | $600.0M | $443.9M | ||
| Q2 25 | $657.4M | $473.9M | ||
| Q1 25 | — | $609.4M | ||
| Q4 24 | — | $590.3M | ||
| Q3 24 | — | $643.8M | ||
| Q2 24 | — | $672.7M | ||
| Q1 24 | — | $796.5M |
总债务DOCUVSH
| Q4 25 | — | $950.9M | ||
| Q3 25 | — | $919.7M | ||
| Q2 25 | — | $914.5M | ||
| Q1 25 | — | $988.2M | ||
| Q4 24 | — | $905.0M | ||
| Q3 24 | — | $820.8M | ||
| Q2 24 | — | $820.6M | ||
| Q1 24 | — | $819.4M |
股东权益DOCUVSH
| Q4 25 | $2.0B | $2.1B | ||
| Q3 25 | $2.0B | $2.1B | ||
| Q2 25 | $2.0B | $2.1B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.2B |
总资产DOCUVSH
| Q4 25 | $4.0B | $4.2B | ||
| Q3 25 | $3.9B | $4.2B | ||
| Q2 25 | $3.9B | $4.2B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.3B |
负债/权益比DOCUVSH
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.49× | ||
| Q4 24 | — | 0.45× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.38× | ||
| Q1 24 | — | 0.38× |
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 | $149.4M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | $54.6M |
| 自由现金流率自由现金流/营收 | 32.1% | 6.8% |
| 资本支出强度资本支出/营收 | 3.3% | 11.8% |
| 现金转化率经营现金流/净利润 | 3.47× | 151.48× |
| 过去12个月自由现金流最近4个季度 | — | $-89.0M |
8季度趋势，按日历期对齐
经营现金流DOCUVSH
| Q4 25 | $290.3M | $149.4M | ||
| Q3 25 | $246.1M | $27.6M | ||
| Q2 25 | $251.4M | $-8.8M | ||
| Q1 25 | — | $16.1M | ||
| Q4 24 | — | $67.7M | ||
| Q3 24 | — | $50.6M | ||
| Q2 24 | — | $-24.7M | ||
| Q1 24 | — | $80.2M |
自由现金流DOCUVSH
| Q4 25 | $262.9M | $54.6M | ||
| Q3 25 | $217.6M | $-24.7M | ||
| Q2 25 | $227.8M | $-73.4M | ||
| Q1 25 | — | $-45.5M | ||
| Q4 24 | — | $-77.2M | ||
| Q3 24 | — | $-9.0M | ||
| Q2 24 | — | $-87.3M | ||
| Q1 24 | — | $27.1M |
自由现金流率DOCUVSH
| Q4 25 | 32.1% | 6.8% | ||
| Q3 25 | 27.2% | -3.1% | ||
| Q2 25 | 29.8% | -9.6% | ||
| Q1 25 | — | -6.4% | ||
| Q4 24 | — | -10.8% | ||
| Q3 24 | — | -1.2% | ||
| Q2 24 | — | -11.8% | ||
| Q1 24 | — | 3.6% |
资本支出强度DOCUVSH
| Q4 25 | 3.3% | 11.8% | ||
| Q3 25 | 3.6% | 6.6% | ||
| Q2 25 | 3.1% | 8.5% | ||
| Q1 25 | — | 8.6% | ||
| Q4 24 | — | 20.3% | ||
| Q3 24 | — | 8.1% | ||
| Q2 24 | — | 8.4% | ||
| Q1 24 | — | 7.1% |
现金转化率DOCUVSH
| Q4 25 | 3.47× | 151.48× | ||
| Q3 25 | 3.91× | — | ||
| Q2 25 | 3.49× | -4.39× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -1.05× | ||
| Q1 24 | — | 2.59× |
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% |
VSH
| Resistors Segment | $189.4M | 24% |
| Diodes Segment | $154.2M | 19% |
| Capacitors Segment | $136.5M | 17% |
| Other | $126.4M | 16% |
| Inductors Segment | $92.6M | 12% |
| Optoelectronic Components Segment | $55.7M | 7% |
| EMS Companies | $51.6M | 6% |
