DocuSign, Inc. (DOCU)财务
NASDAQ · Technology · Software - Application · 员工7,044人 · CEO Allan C. Thygesen
- 股价
- $82.17 +0.77%
- 市值
- $154亿
- 企业价值
- $150亿
- 最近财报
- Q2 '27 2026-09-04提交
- 下次财报
- 2026-12-03 EPS预期 $1.17
营收(TTM)$33.6亿+8.6% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)12.0%+4.0 百分点 对比去年同期营业利润 $4.02亿
净利润(TTM)$3.3亿+17.4% 对比去年同期税后,含营业外收益
自由现金流(TTM)$12亿+28.1% 对比去年同期资本支出 $1.25亿
稀释EPS(TTM)$1.64+23.3% 对比去年同期最近4个季度之和
净现金$5.95亿-17.1% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $154亿 EV $150亿
- 营收
- $33.6亿 过去12个月
- 营收增速
- +9% FY2027年一致预期
- 净利润率
- 9.8% 净利润 / 营收,TTM
- P/E
- 49.2× 预期 17.8×(FY2027)
- P/S
- 4.6× 股价 / 营收,TTM
- EV / EBITDA
- 26.6× TTM
- 自由现金流
- $12亿 过去12个月
- 净利润
- $3.3亿 过去12个月
- 营收预期
- $35亿 FY2027年一致预期
- 盈利
- 2026-12-03 营收预期 $8.89亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-09-03):营收超预期1.0%,EPS 超预期6.4%营收$8.76亿,预期$8.67亿(+1.0%);EPS $1.16,预期$1.09(+6.4%)。
- 营收增长平稳:同比9.4%Q2 '27营收$8.76亿,此前四个季度的平均值为8.4%。
- 营业利润率12.0%(TTM),较去年同期+4.0 百分点营收增长8.6%,营业利润增长64.1%。
- 资本支出占营收的3.7%(去年为3.4%)最近4个季度投入$1.25亿(同比+20.6%)。自由现金流$12亿,相当于净利润的363.2%。
- 股东回报$11.1亿 = 自由现金流的92.5%回购$11.1亿(去年为$7.19亿),股息$0,股权激励$6.06亿(TTM)。
- 稀释股数一年内减少8.9%Q2 '27稀释股数1.93亿,一年前为2.12亿。
- 净现金 $5.95亿现金 + 短期投资 $7.78亿,含租赁债务 $1.83亿;一年前净现金 $7.18亿。
上一季度:Q2 '27
截至2026-07-31的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '27 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $8.76亿 | $8.01亿 | +9.4% |
| 毛利率 | 79.7% | 79.3% | +0.4 百分点 |
| 营业利润 | $1.18亿 | $6520万 | +80.3% |
| 营业利润率 | 13.4% | 8.1% | +5.3 百分点 |
| 净利润 | $7770万 | $6300万 | +23.4% |
| 稀释EPS | $0.40 | $0.30 | +33.3% |
| 经营现金流 | $3.35亿 | $2.46亿 | +36.0% |
| 资本支出 | $3880万 | $2840万 | +36.5% |
| 自由现金流 | $2.96亿 | $2.18亿 | +35.9% |
| R&D | $1.64亿 | $1.7亿 | -3.6% |
| 股权激励费用 | $1.49亿 | $1.61亿 | -7.4% |
实际 vs 一致预期
2026-09-03| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $8.76亿 | $8.67亿 | +1.0% |
| EPS(一致预期口径) | $1.16 | $1.09 | +6.4% |
来自2026-09-03发布的Q2 '27财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Subscription and Circulation | $8.54亿 | +8.9% | 97.5% | $32.9亿 | +8.7% | |
| Professional Services And Other | $2180万 | +34.1% | 2.5% | $7610万 | +5.2% |
按地区划分的营收
占总额比例| 分部 | Q2 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $6.04亿 | +6.3% | 68.9% | $23.4亿 | +5.7% | |
| Non-US | $2.72亿 | +16.8% | 31.1% | $10.2亿 | +15.9% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $13.2亿
- 资本支出
- -$1.25亿
- 股票回购
- -$11.1亿
- 股息
- $0
- 收购
- $0
- 债务净发行
- -$1540万
- 股权激励费用
- $6.06亿
- 自由现金流
- $12亿
- 股东回报 / FCF
- 92.5%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 49.2× | 74.1× 5年中的3年 | 18.5× – 169.2× |
| EV / EBITDA | 26.6× | 1,155.4× | 22.4× – 4,469.5× |
| EV / 营收 | 4.5× | 6.1× | 3.1× – 11.9× |
| 股价 / FCF | 12.8× | 25.9× | 10.0× – 55.6× |
| 股价 / 净资产 | 9.1× | 27.2× | 5.5× – 89.8× |
| FCF收益率 | 7.8% | 5.4% | 1.8% – 10.0% |
| 投入资本回报率 | 15.1% | 2.4% | -5.7% – 12.0% |
| 净资产收益率 | 17.7% | 7.0% | -25.4% – 53.3% |
分析师
一致目标价 $68.75 (-16.3%)
区间 $58.00 – $75.00 · 评级 Hold
强烈买入0
买入8
持有18
卖出2
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $35亿 | +8.8% | $4.62 | +212.3% | 17.8× | 12 |
| FY2028 | $37.8亿 | +8.0% | $5.21 | +12.8% | 15.8× | 12 |
| FY2029 | $40.7亿 | +7.5% | $5.73 | +9.8% | 14.3× | 5 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
DocuSign, Inc.在近期10-Q / 10-K文件中标记的全部236项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $2190万 | $1060万 | +105.4% | $1740万 | $3070万 | -43.3% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $3.71亿 | $3.57亿 | +3.8% | $5.16亿 | $4.3亿 | +20.2% |
| Accounts Receivable, Allowance for Credit Loss | $850万 | $1020万 | -16.6% | $992万 | $883万 | +12.3% |
| Accrued Liabilities, Current | $1.21亿 | $1.01亿 | +20.3% | $1.13亿 | $9960万 | +13.8% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$784万 | -$1610万 | +51.2% | -$371万 | -$2840万 | +86.9% |
| Additional Paid in Capital | $40.5亿 | $35.4亿 | +14.3% | $37.8亿 | $33.2亿 | +13.8% |
| Advertising Expense | – | – | – | $7450万 | $7900万 | -5.7% |
| Amortization of Debt Issuance Costs and Discounts | $16.8万2026-01-31 | $13.9万 | +20.9% | $77.5万 | $55.4万 | +39.9% |
| Amortization of Intangible Assets | – | – | – | $1610万 | $2470万 | -34.7% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1080万 | 451万 | +139.1% | 383万 | 105万 | +265.6% |
| APIC, Share-based Payment Arrangement, ESPP, Increase for Cost Recognition | $1.71亿 | $1.77亿 | -3.8% | $6.87亿 | $6.57亿 | +4.6% |
| Assets | $39.6亿 | $39.5亿 | +0.3% | $42.3亿 | $40.1亿 | +5.4% |
| Assets, Current | $12.7亿 | $13.2亿 | -3.8% | $14.9亿 | $14.9亿 | +0.1% |
| Capital Expenditures Incurred but Not yet Paid | $415万 | -$6.3万 | +6,679.4% | $330万 | $569万 | -41.9% |
| Capitalized Computer Software, Additions | $4480万2026-04-30 | $2970万 | +50.8% | $1.43亿 | $1.15亿 | +25.0% |
| Capitalized Computer Software, Amortization | $2100万2026-04-30 | $1740万 | +20.7% | $7650万 | $5520万 | +38.6% |
| Capitalized Contract Cost, Amortization | $6970万 | $6870万 | +1.5% | $2.71亿 | $2.37亿 | +14.3% |
| Capitalized Contract Cost, Net, Noncurrent | $4.69亿 | $4.63亿 | +1.3% | $4.75亿 | $4.67亿 | +1.6% |
| Cash | $2.39亿 | $3.2亿 | -25.4% | $3.54亿 | $4.65亿 | -23.8% |
| Cash and Cash Equivalents, at Carrying Value | $5.28亿 | $6亿 | -12.0% | $6.02亿 | $6.49亿 | -7.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $5.46亿 | $6.16亿 | -11.5% | $6.18亿 | $6.6亿 | -6.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$2020万 | -$5620万 | +64.1% | -$4140万 | -$1.42亿 | +70.8% |
| Common Stock, Capital Shares Reserved for Future Issuance | 8350万2026-01-31 | 7860万 | +6.3% | 8350万 | 7860万 | +6.3% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 5亿 | 5亿 | 0.0% | 5亿 | 5亿 | 0.0% |
| Common Stock, Shares, Issued | 1.88亿 | – | – | 1.98亿 | 2.03亿 | -2.3% |
| Common Stock, Shares, Outstanding | 1.88亿 | 2.01亿 | -6.4% | 1.98亿 | 2.02亿 | -2.3% |
| Common Stock, Value, Issued | $1.9万 | $2万 | -5.0% | $2万 | $2万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $7380万 | $6510万 | +13.5% | $3.34亿 | $10.6亿 | -68.5% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $760万 | $990万 | -23.2% | $1080万 | $1380万 | -21.7% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $755万 | $989万 | -23.7% | $1080万 | $1380万 | -21.7% |
| Contract with Customer, Liability, Current | $15.8亿 | $14.4亿 | +9.7% | $16.3亿 | $14.6亿 | +12.1% |
| Contract with Customer, Liability, Noncurrent | $2880万 | $2740万 | +5.1% | $3000万 | $2150万 | +39.2% |
| Contract with Customer, Liability, Revenue Recognized | $5.29亿 | $4.9亿 | +8.1% | $14亿 | $13亿 | +7.7% |
| Cost of Goods and Services Sold | $1.78亿 | $1.65亿 | +7.5% | $6.63亿 | $6.22亿 | +6.7% |
| Current Federal Tax Expense (Benefit) | – | – | – | $78.6万 | $476万 | -83.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $2960万 | $611万 | +384.6% |
| Current Income Tax Expense (Benefit) | – | – | – | $3370万 | $1880万 | +79.5% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $338万 | $794万 | -57.5% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $4.3万 | $21.4万 | -79.9% | $81.4万 | $53.5万 | +52.1% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $132万 | $47.5万 | +177.1% | $9.4万 | $40.7万 | -76.9% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $1.95亿 | – | – | $1.64亿2019-01-31 | – | – |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $2.5亿 | – | – | $2.51亿2019-01-31 | – | – |
| DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss | $7.23亿2025-10-31 | $5.78亿 | +25.1% | $6.33亿2025-01-31 | $7.23亿 | -12.5% |
| DebtSecuritiesAvailableForSaleExcludingAccruedInterest | $4.45亿 | $7.33亿 | -39.3% | $6.33亿2025-01-31 | $7.23亿 | -12.4% |
| DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent | $2.5亿 | $2.44亿 | +2.1% | $2.64亿 | $3.15亿 | -16.1% |
| DebtSecuritiesAvailableForSaleExcludingAccruedInterestNoncurrent | $1.95亿 | $2.09亿 | -6.4% | $2.08亿 | $1.34亿 | +55.4% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $582万 | -$7.47亿 | +100.8% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$1080万 | $328万 | -429.3% |
| Deferred Income Tax Assets, Net | $7.64亿 | $8.37亿 | -8.6% | $8.35亿 | $8.4亿 | -0.6% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $450万 | -$8.39亿 | +100.5% |
| Deferred Income Tax Liabilities, Net | $2100万 | $1910万 | +9.9% | $2150万 | $2060万 | +4.4% |
| Deferred Income Taxes and Tax Credits | $3780万 | $500万 | +656.4% | $471万 | -$8.4亿 | +100.6% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $950万 | -$9490万 | +110.0% |
| Deferred Tax Assets, Gross | $11.3亿2026-01-31 | $11.3亿 | +0.4% | $11.3亿 | $11.3亿 | +0.4% |
| Deferred Tax Assets, in Process Research and Development | $2.32亿2026-01-31 | $1.79亿 | +29.3% | $2.32亿 | $1.79亿 | +29.3% |
| Deferred Tax Assets, Net | $8.14亿2026-01-31 | $8.2亿 | -0.7% | $8.14亿 | $8.2亿 | -0.7% |
| Deferred Tax Assets, Net of Valuation Allowance | $10.5亿2026-01-31 | $10.2亿 | +2.7% | $10.5亿 | $10.2亿 | +2.7% |
| Deferred Tax Assets, Operating Loss Carryforwards | $4.83亿2026-01-31 | $4.87亿 | -0.8% | $4.83亿 | $4.87亿 | -0.8% |
| Deferred Tax Assets, Other | $6940万2026-01-31 | $5430万 | +27.8% | $6940万 | $5430万 | +27.8% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-07-31, 10-Q 2026-04-30, 10-K 2026-01-31, 10-Q 2025-10-31, 10-Q 2025-07-31, 10-Q 2025-04-30, 10-K 2025-01-31, 10-Q 2024-10-31, 10-Q 2024-07-31
数据截至 2026-11-02