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DOCUSIGN, INC.（DOCU）与WillScot Holdings Corp（WSC）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WillScot Holdings Corp的1.4倍（$818.4M vs $566.0M），DOCUSIGN, INC.净利率更高（10.2% vs -33.1%，领先43.3%），DOCUSIGN, INC.同比增速更快（8.4% vs -6.1%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $149.7M）
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。
WillScot Holdings Corp是北美领先的模块化空间及便携式存储服务供应商，服务覆盖建筑、商业开发、教育、医疗、政府项目、特殊活动等多个领域，为客户提供灵活可扩展的临时及半永久空间解决方案。
DOCU vs WSC — 直观对比
营收规模更大
DOCU
是对方的1.4倍
$566.0M
营收增速更快
DOCU
高出14.5%
-6.1%
净利率更高
DOCU
高出43.3%
-33.1%
自由现金流更多
DOCU
多$113.2M
$149.7M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $566.0M |
| 净利润 | $83.7M | $-187.3M |
| 毛利率 | 79.2% | 50.4% |
| 营业利润率 | 10.4% | -32.5% |
| 净利率 | 10.2% | -33.1% |
| 营收同比 | 8.4% | -6.1% |
| 净利润同比 | 34.1% | -310.0% |
| 每股收益（稀释后） | $0.40 | $-1.02 |
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DOCUWSC
| Q4 25 | $818.4M | $566.0M | ||
| Q3 25 | $800.6M | $566.8M | ||
| Q2 25 | $763.7M | $589.1M | ||
| Q1 25 | — | $559.6M | ||
| Q4 24 | — | $602.5M | ||
| Q3 24 | — | $601.4M | ||
| Q2 24 | — | $604.6M | ||
| Q1 24 | — | $587.2M |
净利润DOCUWSC
| Q4 25 | $83.7M | $-187.3M | ||
| Q3 25 | $63.0M | $43.3M | ||
| Q2 25 | $72.1M | $47.9M | ||
| Q1 25 | — | $43.1M | ||
| Q4 24 | — | $89.2M | ||
| Q3 24 | — | $-70.5M | ||
| Q2 24 | — | $-46.9M | ||
| Q1 24 | — | $56.2M |
毛利率DOCUWSC
| Q4 25 | 79.2% | 50.4% | ||
| Q3 25 | 79.3% | 49.7% | ||
| Q2 25 | 79.4% | 50.3% | ||
| Q1 25 | — | 53.7% | ||
| Q4 24 | — | 55.8% | ||
| Q3 24 | — | 53.5% | ||
| Q2 24 | — | 54.1% | ||
| Q1 24 | — | 54.0% |
营业利润率DOCUWSC
| Q4 25 | 10.4% | -32.5% | ||
| Q3 25 | 8.1% | 21.0% | ||
| Q2 25 | 7.9% | 21.5% | ||
| Q1 25 | — | 21.3% | ||
| Q4 24 | — | 28.9% | ||
| Q3 24 | — | -5.9% | ||
| Q2 24 | — | -0.9% | ||
| Q1 24 | — | 22.1% |
净利率DOCUWSC
| Q4 25 | 10.2% | -33.1% | ||
| Q3 25 | 7.9% | 7.6% | ||
| Q2 25 | 9.4% | 8.1% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | — | 14.8% | ||
| Q3 24 | — | -11.7% | ||
| Q2 24 | — | -7.7% | ||
| Q1 24 | — | 9.6% |
每股收益（稀释后）DOCUWSC
| Q4 25 | $0.40 | $-1.02 | ||
| Q3 25 | $0.30 | $0.24 | ||
| Q2 25 | $0.34 | $0.26 | ||
| Q1 25 | — | $0.23 | ||
| Q4 24 | — | $0.48 | ||
| Q3 24 | — | $-0.37 | ||
| Q2 24 | — | $-0.25 | ||
| Q1 24 | — | $0.29 |
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 | $14.6M |
| 总债务越低越好 | — | $3.6B |
| 股东权益账面价值 | $2.0B | $856.3M |
| 总资产 | $4.0B | $5.8B |
| 负债/权益比越低杠杆越低 | — | 4.15× |
8季度趋势，按日历期对齐
现金及短期投资DOCUWSC
| Q4 25 | $583.3M | $14.6M | ||
| Q3 25 | $600.0M | $14.8M | ||
| Q2 25 | $657.4M | $12.8M | ||
| Q1 25 | — | $10.7M | ||
| Q4 24 | — | $9.0M | ||
| Q3 24 | — | $11.0M | ||
| Q2 24 | — | $5.9M | ||
| Q1 24 | — | $13.1M |
总债务DOCUWSC
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.5B | ||
| Q1 24 | — | $3.5B |
股东权益DOCUWSC
| Q4 25 | $2.0B | $856.3M | ||
| Q3 25 | $2.0B | $1.1B | ||
| Q2 25 | $2.0B | $1.0B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.3B |
总资产DOCUWSC
| Q4 25 | $4.0B | $5.8B | ||
| Q3 25 | $3.9B | $6.1B | ||
| Q2 25 | $3.9B | $6.1B | ||
| Q1 25 | — | $6.0B | ||
| Q4 24 | — | $6.0B | ||
| Q3 24 | — | $6.0B | ||
| Q2 24 | — | $6.0B | ||
| Q1 24 | — | $6.2B |
负债/权益比DOCUWSC
| Q4 25 | — | 4.15× | ||
| Q3 25 | — | 3.39× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 3.56× | ||
| Q4 24 | — | 3.62× | ||
| Q3 24 | — | 3.42× | ||
| Q2 24 | — | 2.88× | ||
| Q1 24 | — | 2.63× |
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 | $158.9M |
| 自由现金流经营现金流 - 资本支出 | $262.9M | $149.7M |
| 自由现金流率自由现金流/营收 | 32.1% | 26.5% |
| 资本支出强度资本支出/营收 | 3.3% | 1.6% |
| 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 | — | $737.7M |
8季度趋势，按日历期对齐
经营现金流DOCUWSC
| Q4 25 | $290.3M | $158.9M | ||
| Q3 25 | $246.1M | $191.2M | ||
| Q2 25 | $251.4M | $205.3M | ||
| Q1 25 | — | $206.6M | ||
| Q4 24 | — | $178.9M | ||
| Q3 24 | — | $-1.6M | ||
| Q2 24 | — | $175.6M | ||
| Q1 24 | — | $208.7M |
自由现金流DOCUWSC
| Q4 25 | $262.9M | $149.7M | ||
| Q3 25 | $217.6M | $186.9M | ||
| Q2 25 | $227.8M | $199.0M | ||
| Q1 25 | — | $202.0M | ||
| Q4 24 | — | $176.6M | ||
| Q3 24 | — | $-4.9M | ||
| Q2 24 | — | $169.4M | ||
| Q1 24 | — | $202.1M |
自由现金流率DOCUWSC
| Q4 25 | 32.1% | 26.5% | ||
| Q3 25 | 27.2% | 33.0% | ||
| Q2 25 | 29.8% | 33.8% | ||
| Q1 25 | — | 36.1% | ||
| Q4 24 | — | 29.3% | ||
| Q3 24 | — | -0.8% | ||
| Q2 24 | — | 28.0% | ||
| Q1 24 | — | 34.4% |
资本支出强度DOCUWSC
| Q4 25 | 3.3% | 1.6% | ||
| Q3 25 | 3.6% | 0.7% | ||
| Q2 25 | 3.1% | 1.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 1.1% |
现金转化率DOCUWSC
| Q4 25 | 3.47× | — | ||
| Q3 25 | 3.91× | 4.41× | ||
| Q2 25 | 3.49× | 4.28× | ||
| Q1 25 | — | 4.80× | ||
| Q4 24 | — | 2.01× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 3.71× |
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% |
WSC
| Modular Space Leasing | $249.8M | 44% |
| Value Added Product And Services | $101.0M | 18% |
| Portable Storage Leasing | $83.0M | 15% |
| Delivery Revenue | $48.2M | 9% |
| Installation Revenue | $45.0M | 8% |
| Rental Units | $19.7M | 3% |
| New Units | $15.5M | 3% |
| Value Added Services | $10.3M | 2% |
| Other Leasing Related Products And Services | $3.8M | 1% |
