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ProFrac Holding Corp.（ACDC）与NCS Multistage Holdings, Inc.（NCSM）财务数据对比。点击上方公司名可切换其他公司
ProFrac Holding Corp.的季度营收约是NCS Multistage Holdings, Inc.的8.6倍（$436.5M vs $50.6M）。NCS Multistage Holdings, Inc.净利率更高（29.5% vs -33.2%，领先62.7%）。NCS Multistage Holdings, Inc.同比增速更快（12.5% vs -4.0%）。NCS Multistage Holdings, Inc.自由现金流更多（$12.9M vs $12.9M）。过去两年NCS Multistage Holdings, Inc.的营收复合增速更高（7.4% vs -13.4%）
ProFrac Holding Corp.是一家领先的北美能源服务企业，主要为油气勘探开采企业提供水力压裂、完井及相关配套服务，核心客户覆盖美国、加拿大主要陆上页岩及常规油气产区的上游运营商。
NCS Multistage Holdings是一家全球能源技术与油田服务提供商，主营油气勘探生产用的完井系统与多级压裂工具，服务覆盖北美、拉美、中东及亚太市场，助力上游能源客户提升作业效率与资源采收率。
ACDC vs NCSM — 直观对比
营收规模更大
ACDC
是对方的8.6倍
$50.6M
营收增速更快
NCSM
高出16.5%
-4.0%
净利率更高
NCSM
高出62.7%
-33.2%
自由现金流更多
NCSM
多$6.0K
$12.9M
两年增速更快
NCSM
近两年复合增速
-13.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $436.5M | $50.6M |
| 净利润 | $-144.7M | $15.0M |
| 毛利率 | — | — |
| 营业利润率 | -24.9% | 10.3% |
| 净利率 | -33.2% | 29.5% |
| 营收同比 | -4.0% | 12.5% |
| 净利润同比 | -37.8% | 331.0% |
| 每股收益（稀释后） | $-0.83 | $5.43 |
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ACDCNCSM
| Q4 25 | $436.5M | $50.6M | ||
| Q3 25 | $403.1M | $46.5M | ||
| Q2 25 | $501.9M | $36.5M | ||
| Q1 25 | $600.3M | $50.0M | ||
| Q4 24 | $454.7M | $45.0M | ||
| Q3 24 | $575.3M | $44.0M | ||
| Q2 24 | $579.4M | $29.7M | ||
| Q1 24 | $581.5M | $43.9M |
净利润ACDCNCSM
| Q4 25 | $-144.7M | $15.0M | ||
| Q3 25 | $-100.9M | $3.8M | ||
| Q2 25 | $-105.9M | $924.0K | ||
| Q1 25 | $-17.5M | $4.1M | ||
| Q4 24 | $-105.0M | $3.5M | ||
| Q3 24 | $-45.2M | $4.1M | ||
| Q2 24 | $-66.7M | $-3.1M | ||
| Q1 24 | $1.8M | $2.1M |
营业利润率ACDCNCSM
| Q4 25 | -24.9% | 10.3% | ||
| Q3 25 | -19.5% | 6.6% | ||
| Q2 25 | -10.8% | -5.6% | ||
| Q1 25 | 2.7% | 8.6% | ||
| Q4 24 | -10.3% | 6.5% | ||
| Q3 24 | -0.7% | 6.9% | ||
| Q2 24 | -8.5% | -14.0% | ||
| Q1 24 | 6.9% | 5.7% |
净利率ACDCNCSM
| Q4 25 | -33.2% | 29.5% | ||
| Q3 25 | -25.0% | 8.2% | ||
| Q2 25 | -21.1% | 2.5% | ||
| Q1 25 | -2.9% | 8.1% | ||
| Q4 24 | -23.1% | 7.7% | ||
| Q3 24 | -7.9% | 9.4% | ||
| Q2 24 | -11.5% | -10.4% | ||
| Q1 24 | 0.3% | 4.7% |
每股收益（稀释后）ACDCNCSM
| Q4 25 | $-0.83 | $5.43 | ||
| Q3 25 | $-0.60 | $1.37 | ||
| Q2 25 | $-0.67 | $0.34 | ||
| Q1 25 | $-0.12 | $1.51 | ||
| Q4 24 | $-0.67 | $1.34 | ||
| Q3 24 | $-0.29 | $1.60 | ||
| Q2 24 | $-0.42 | $-1.21 | ||
| Q1 24 | $0.00 | $0.82 |
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 | $22.9M | $36.7M |
| 总债务越低越好 | $832.7M | $5.3M |
| 股东权益账面价值 | $717.5M | $126.2M |
| 总资产 | $2.6B | $181.2M |
| 负债/权益比越低杠杆越低 | 1.16× | 0.04× |
8季度趋势，按日历期对齐
现金及短期投资ACDCNCSM
| Q4 25 | $22.9M | $36.7M | ||
| Q3 25 | $58.0M | $25.3M | ||
| Q2 25 | $26.0M | $25.4M | ||
| Q1 25 | $16.0M | $23.0M | ||
| Q4 24 | $14.8M | $25.9M | ||
| Q3 24 | $25.5M | $15.3M | ||
| Q2 24 | $24.0M | $18.6M | ||
| Q1 24 | $28.3M | $14.0M |
总债务ACDCNCSM
| Q4 25 | $832.7M | $5.3M | ||
| Q3 25 | $907.0M | $5.1M | ||
| Q2 25 | $941.9M | $5.5M | ||
| Q1 25 | $967.9M | $5.4M | ||
| Q4 24 | $936.1M | $6.0M | ||
| Q3 24 | $986.7M | $6.5M | ||
| Q2 24 | $1.0B | $6.8M | ||
| Q1 24 | $895.1M | $6.4M |
股东权益ACDCNCSM
| Q4 25 | $717.5M | $126.2M | ||
| Q3 25 | $862.0M | $110.1M | ||
| Q2 25 | $875.5M | $106.4M | ||
| Q1 25 | $988.1M | $103.2M | ||
| Q4 24 | $1.0B | $98.8M | ||
| Q3 24 | $1.1B | $96.0M | ||
| Q2 24 | $1.1B | $91.0M | ||
| Q1 24 | $1.2B | $93.7M |
总资产ACDCNCSM
| Q4 25 | $2.6B | $181.2M | ||
| Q3 25 | $2.7B | $162.0M | ||
| Q2 25 | $2.8B | $158.0M | ||
| Q1 25 | $3.0B | $155.1M | ||
| Q4 24 | $3.0B | $152.8M | ||
| Q3 24 | $3.1B | $145.8M | ||
| Q2 24 | $3.2B | $139.4M | ||
| Q1 24 | $3.0B | $140.9M |
负债/权益比ACDCNCSM
| Q4 25 | 1.16× | 0.04× | ||
| Q3 25 | 1.05× | 0.05× | ||
| Q2 25 | 1.08× | 0.05× | ||
| Q1 25 | 0.98× | 0.05× | ||
| Q4 24 | 0.93× | 0.06× | ||
| Q3 24 | 0.90× | 0.07× | ||
| Q2 24 | 0.88× | 0.08× | ||
| Q1 24 | 0.74× | 0.07× |
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 | $49.5M | $13.1M |
| 自由现金流经营现金流 - 资本支出 | $12.9M | $12.9M |
| 自由现金流率自由现金流/营收 | 3.0% | 25.5% |
| 资本支出强度资本支出/营收 | 8.4% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 0.88× |
| 过去12个月自由现金流最近4个季度 | $19.6M | $21.0M |
8季度趋势，按日历期对齐
经营现金流ACDCNCSM
| Q4 25 | $49.5M | $13.1M | ||
| Q3 25 | $900.0K | $7.2M | ||
| Q2 25 | $100.4M | $3.5M | ||
| Q1 25 | $38.7M | $-1.6M | ||
| Q4 24 | $76.5M | $10.6M | ||
| Q3 24 | $98.2M | $-2.0M | ||
| Q2 24 | $113.5M | $6.0M | ||
| Q1 24 | $79.1M | $-1.9M |
自由现金流ACDCNCSM
| Q4 25 | $12.9M | $12.9M | ||
| Q3 25 | $-33.4M | $6.9M | ||
| Q2 25 | $53.9M | $3.2M | ||
| Q1 25 | $-13.8M | $-2.1M | ||
| Q4 24 | $13.3M | $10.4M | ||
| Q3 24 | $28.2M | $-2.5M | ||
| Q2 24 | $51.6M | $5.6M | ||
| Q1 24 | $19.2M | $-2.2M |
自由现金流率ACDCNCSM
| Q4 25 | 3.0% | 25.5% | ||
| Q3 25 | -8.3% | 14.9% | ||
| Q2 25 | 10.7% | 8.9% | ||
| Q1 25 | -2.3% | -4.2% | ||
| Q4 24 | 2.9% | 23.1% | ||
| Q3 24 | 4.9% | -5.6% | ||
| Q2 24 | 8.9% | 19.0% | ||
| Q1 24 | 3.3% | -5.0% |
资本支出强度ACDCNCSM
| Q4 25 | 8.4% | 0.4% | ||
| Q3 25 | 8.5% | 0.5% | ||
| Q2 25 | 9.3% | 0.8% | ||
| Q1 25 | 8.7% | 0.9% | ||
| Q4 24 | 13.9% | 0.5% | ||
| Q3 24 | 12.2% | 1.0% | ||
| Q2 24 | 10.7% | 1.1% | ||
| Q1 24 | 10.3% | 0.7% |
现金转化率ACDCNCSM
| Q4 25 | — | 0.88× | ||
| Q3 25 | — | 1.88× | ||
| Q2 25 | — | 3.81× | ||
| Q1 25 | — | -0.41× | ||
| Q4 24 | — | 3.07× | ||
| Q3 24 | — | -0.49× | ||
| Q2 24 | — | — | ||
| Q1 24 | 43.94× | -0.91× |
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
ACDC
| Services | $385.6M | 88% |
| Products | $50.9M | 12% |
NCSM
| Products | $33.8M | 67% |
| Services | $16.8M | 33% |
