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贝克休斯（BKR）与DNOW Inc.（DNOW）财务数据对比。点击上方公司名可切换其他公司
贝克休斯的季度营收约是DNOW Inc.的6.9倍（$6.6B vs $959.0M）。贝克休斯净利率更高（14.1% vs -16.8%，领先30.9%）。DNOW Inc.同比增速更快（68.0% vs 2.5%）。贝克休斯自由现金流更多（$210.0M vs $76.0M）。过去两年DNOW Inc.的营收复合增速更高（30.5% vs -3.9%）
贝克休斯是一家总部位于美国得克萨斯州休斯敦和英国伦敦的全球能源技术企业，也是全球规模最大的油田服务、工业及能源技术公司之一，业务覆盖120余个国家，为油气行业的勘探开采环节以及其他能源与工业应用场景提供产品和服务。
DNOW Inc.（商业名称DistributionNOW）是一家全球工业及能源产品分销商，提供供应链管理、库存优化、技术支持服务，主营油气、可再生能源、制造、建筑等领域所需的零部件、设备及耗材，业务覆盖北美、欧洲及亚太地区。
BKR vs DNOW — 直观对比
营收规模更大
BKR
是对方的6.9倍
$959.0M
营收增速更快
DNOW
高出65.5%
2.5%
净利率更高
BKR
高出30.9%
-16.8%
自由现金流更多
BKR
多$134.0M
$76.0M
两年增速更快
DNOW
近两年复合增速
-3.9%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.6B | $959.0M |
| 净利润 | $930.0M | $-161.0M |
| 毛利率 | 22.8% | 5.2% |
| 营业利润率 | — | -19.6% |
| 净利率 | 14.1% | -16.8% |
| 营收同比 | 2.5% | 68.0% |
| 净利润同比 | 131.3% | -905.0% |
| 每股收益（稀释后） | $0.93 | $-1.42 |
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BKRDNOW
| Q1 26 | $6.6B | — | ||
| Q4 25 | $7.4B | $959.0M | ||
| Q3 25 | $7.0B | $634.0M | ||
| Q2 25 | $6.9B | $628.0M | ||
| Q1 25 | $6.4B | $599.0M | ||
| Q4 24 | $7.4B | $571.0M | ||
| Q3 24 | $6.9B | $606.0M | ||
| Q2 24 | $7.1B | $633.0M |
净利润BKRDNOW
| Q1 26 | $930.0M | — | ||
| Q4 25 | $876.0M | $-161.0M | ||
| Q3 25 | $609.0M | $25.0M | ||
| Q2 25 | $701.0M | $25.0M | ||
| Q1 25 | $402.0M | $22.0M | ||
| Q4 24 | $1.2B | $20.0M | ||
| Q3 24 | $766.0M | $13.0M | ||
| Q2 24 | $579.0M | $24.0M |
毛利率BKRDNOW
| Q1 26 | 22.8% | — | ||
| Q4 25 | — | 5.2% | ||
| Q3 25 | — | 22.9% | ||
| Q2 25 | — | 22.9% | ||
| Q1 25 | — | 23.2% | ||
| Q4 24 | — | 22.6% | ||
| Q3 24 | — | 22.3% | ||
| Q2 24 | — | 21.8% |
营业利润率BKRDNOW
| Q1 26 | — | — | ||
| Q4 25 | 7.1% | -19.6% | ||
| Q3 25 | 11.7% | 5.2% | ||
| Q2 25 | 14.0% | 5.1% | ||
| Q1 25 | 8.7% | 5.0% | ||
| Q4 24 | 9.0% | 4.4% | ||
| Q3 24 | 13.5% | 3.8% | ||
| Q2 24 | 11.7% | 5.2% |
净利率BKRDNOW
| Q1 26 | 14.1% | — | ||
| Q4 25 | 11.9% | -16.8% | ||
| Q3 25 | 8.7% | 3.9% | ||
| Q2 25 | 10.1% | 4.0% | ||
| Q1 25 | 6.3% | 3.7% | ||
| Q4 24 | 16.0% | 3.5% | ||
| Q3 24 | 11.1% | 2.1% | ||
| Q2 24 | 8.1% | 3.8% |
每股收益（稀释后）BKRDNOW
| Q1 26 | $0.93 | — | ||
| Q4 25 | — | $-1.42 | ||
| Q3 25 | — | $0.23 | ||
| Q2 25 | — | $0.23 | ||
| Q1 25 | — | $0.20 | ||
| Q4 24 | — | $0.19 | ||
| Q3 24 | — | $0.12 | ||
| Q2 24 | — | $0.21 |
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 | $14.8B | $164.0M |
| 总债务越低越好 | $16.2B | $411.0M |
| 股东权益账面价值 | $19.5B | $2.2B |
| 总资产 | $50.9B | $3.9B |
| 负债/权益比越低杠杆越低 | 0.83× | 0.18× |
8季度趋势，按日历期对齐
现金及短期投资BKRDNOW
| Q1 26 | $14.8B | — | ||
| Q4 25 | — | $164.0M | ||
| Q3 25 | — | $266.0M | ||
| Q2 25 | — | $232.0M | ||
| Q1 25 | — | $219.0M | ||
| Q4 24 | — | $256.0M | ||
| Q3 24 | — | $261.0M | ||
| Q2 24 | — | $197.0M |
总债务BKRDNOW
| Q1 26 | $16.2B | — | ||
| Q4 25 | $5.4B | $411.0M | ||
| Q3 25 | $6.0B | — | ||
| Q2 25 | $6.0B | — | ||
| Q1 25 | $6.0B | — | ||
| Q4 24 | $6.0B | $0 | ||
| Q3 24 | $6.0B | — | ||
| Q2 24 | $5.9B | — |
股东权益BKRDNOW
| Q1 26 | $19.5B | — | ||
| Q4 25 | $18.8B | $2.2B | ||
| Q3 25 | $18.2B | $1.2B | ||
| Q2 25 | $17.7B | $1.2B | ||
| Q1 25 | $17.0B | $1.1B | ||
| Q4 24 | $16.9B | $1.1B | ||
| Q3 24 | $16.2B | $1.1B | ||
| Q2 24 | $15.6B | $1.1B |
总资产BKRDNOW
| Q1 26 | $50.9B | — | ||
| Q4 25 | $40.9B | $3.9B | ||
| Q3 25 | $39.2B | $1.7B | ||
| Q2 25 | $38.7B | $1.7B | ||
| Q1 25 | $38.1B | $1.7B | ||
| Q4 24 | $38.4B | $1.6B | ||
| Q3 24 | $37.5B | $1.6B | ||
| Q2 24 | $36.7B | $1.6B |
负债/权益比BKRDNOW
| Q1 26 | 0.83× | — | ||
| Q4 25 | 0.29× | 0.18× | ||
| Q3 25 | 0.33× | — | ||
| Q2 25 | 0.34× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.35× | 0.00× | ||
| Q3 24 | 0.37× | — | ||
| Q2 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 | — | $83.0M |
| 自由现金流经营现金流 - 资本支出 | $210.0M | $76.0M |
| 自由现金流率自由现金流/营收 | 3.2% | 7.9% |
| 资本支出强度资本支出/营收 | 4.4% | 0.7% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $2.3B | $134.0M |
8季度趋势，按日历期对齐
经营现金流BKRDNOW
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $83.0M | ||
| Q3 25 | $929.0M | $43.0M | ||
| Q2 25 | $510.0M | $45.0M | ||
| Q1 25 | $709.0M | $-16.0M | ||
| Q4 24 | $1.2B | $122.0M | ||
| Q3 24 | $1.0B | $74.0M | ||
| Q2 24 | $348.0M | $21.0M |
自由现金流BKRDNOW
| Q1 26 | $210.0M | — | ||
| Q4 25 | $1.3B | $76.0M | ||
| Q3 25 | $634.0M | $39.0M | ||
| Q2 25 | $209.0M | $41.0M | ||
| Q1 25 | $409.0M | $-22.0M | ||
| Q4 24 | $837.0M | $119.0M | ||
| Q3 24 | $710.0M | $72.0M | ||
| Q2 24 | $56.0M | $18.0M |
自由现金流率BKRDNOW
| Q1 26 | 3.2% | — | ||
| Q4 25 | 17.4% | 7.9% | ||
| Q3 25 | 9.0% | 6.2% | ||
| Q2 25 | 3.0% | 6.5% | ||
| Q1 25 | 6.4% | -3.7% | ||
| Q4 24 | 11.4% | 20.8% | ||
| Q3 24 | 10.3% | 11.9% | ||
| Q2 24 | 0.8% | 2.8% |
资本支出强度BKRDNOW
| Q1 26 | 4.4% | — | ||
| Q4 25 | 5.1% | 0.7% | ||
| Q3 25 | 4.2% | 0.6% | ||
| Q2 25 | 4.4% | 0.6% | ||
| Q1 25 | 4.7% | 1.0% | ||
| Q4 24 | 4.8% | 0.5% | ||
| Q3 24 | 4.3% | 0.3% | ||
| Q2 24 | 4.1% | 0.5% |
现金转化率BKRDNOW
| Q1 26 | — | — | ||
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.53× | 1.72× | ||
| Q2 25 | 0.73× | 1.80× | ||
| Q1 25 | 1.76× | -0.73× | ||
| Q4 24 | 1.01× | 6.10× | ||
| Q3 24 | 1.32× | 5.69× | ||
| Q2 24 | 0.60× | 0.88× |
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
BKR
暂无分部数据
DNOW
| Pipelines | $455.0M | 47% |
| Downstream And Industrial | $196.0M | 20% |
| Gas Utilities | $183.0M | 19% |
| Oil And Gas Properties | $105.0M | 11% |
| Other | $20.0M | 2% |
