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QWEST CORP（CTBB）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
QWEST CORP的季度营收约是越洋钻探的1.1倍（$1.1B vs $1.0B），越洋钻探净利率更高（2.4% vs -187.5%，领先189.9%），越洋钻探同比增速更快（9.6% vs -15.0%），越洋钻探自由现金流更多（$321.0M vs $160.0M），过去两年越洋钻探的营收复合增速更高（16.9% vs -8.6%）
奎斯特公司（以CenturyLink QC名义运营）是一家隶属于 lumen Technologies 的地区性贝尔运营公司。其前身为1911年成立的山地电话电报公司，先后更名为山地贝尔、美国西部通讯，2000年改为现名，业务整合了原Malheur Bell、西北贝尔、太平洋西北贝尔的运营资源。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
CTBB vs RIG — 直观对比
营收规模更大
CTBB
是对方的1.1倍
$1.0B
营收增速更快
RIG
高出24.6%
-15.0%
净利率更高
RIG
高出189.9%
-187.5%
自由现金流更多
RIG
多$161.0M
$160.0M
两年增速更快
RIG
近两年复合增速
-8.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.0B |
| 净利润 | $-2.1B | $25.0M |
| 毛利率 | 67.9% | 42.0% |
| 营业利润率 | -183.2% | 23.0% |
| 净利率 | -187.5% | 2.4% |
| 营收同比 | -15.0% | 9.6% |
| 净利润同比 | -627.9% | 257.1% |
| 每股收益（稀释后） | — | $0.13 |
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CTBBRIG
| Q4 25 | $1.1B | $1.0B | ||
| Q3 25 | $1.1B | $1.0B | ||
| Q2 25 | $1.1B | $988.0M | ||
| Q1 25 | $1.2B | $906.0M | ||
| Q4 24 | $1.3B | $952.0M | ||
| Q3 24 | $1.3B | $948.0M | ||
| Q2 24 | $1.3B | $861.0M | ||
| Q1 24 | $1.3B | $763.0M |
净利润CTBBRIG
| Q4 25 | $-2.1B | $25.0M | ||
| Q3 25 | $176.0M | $-1.9B | ||
| Q2 25 | $277.0M | $-938.0M | ||
| Q1 25 | $284.0M | $-79.0M | ||
| Q4 24 | $391.0M | $7.0M | ||
| Q3 24 | $365.0M | $-494.0M | ||
| Q2 24 | $378.0M | $-123.0M | ||
| Q1 24 | $353.0M | $98.0M |
毛利率CTBBRIG
| Q4 25 | 67.9% | 42.0% | ||
| Q3 25 | 65.3% | 43.2% | ||
| Q2 25 | 68.2% | 39.4% | ||
| Q1 25 | 69.3% | 31.8% | ||
| Q4 24 | 71.2% | 39.2% | ||
| Q3 24 | 69.9% | 40.6% | ||
| Q2 24 | 71.6% | 38.0% | ||
| Q1 24 | 71.9% | 31.5% |
营业利润率CTBBRIG
| Q4 25 | -183.2% | 23.0% | ||
| Q3 25 | 22.3% | -163.1% | ||
| Q2 25 | 33.1% | -97.6% | ||
| Q1 25 | 33.7% | 7.1% | ||
| Q4 24 | 40.7% | 13.7% | ||
| Q3 24 | 38.5% | -51.2% | ||
| Q2 24 | 40.3% | -6.9% | ||
| Q1 24 | 37.6% | -0.4% |
净利率CTBBRIG
| Q4 25 | -187.5% | 2.4% | ||
| Q3 25 | 16.1% | -187.1% | ||
| Q2 25 | 24.3% | -94.9% | ||
| Q1 25 | 24.7% | -8.7% | ||
| Q4 24 | 30.2% | 0.7% | ||
| Q3 24 | 28.2% | -52.1% | ||
| Q2 24 | 28.7% | -14.3% | ||
| Q1 24 | 26.8% | 12.8% |
每股收益（稀释后）CTBBRIG
| Q4 25 | — | $0.13 | ||
| Q3 25 | — | $-2.00 | ||
| Q2 25 | — | $-1.06 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $-0.14 | ||
| Q3 24 | — | $-0.58 | ||
| Q2 24 | — | $-0.15 | ||
| Q1 24 | — | $0.11 |
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 | $39.0M | $620.0M |
| 总债务越低越好 | $1.7B | $5.2B |
| 股东权益账面价值 | $10.9B | $8.1B |
| 总资产 | $15.8B | $15.6B |
| 负债/权益比越低杠杆越低 | 0.15× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资CTBBRIG
| Q4 25 | $39.0M | $620.0M | ||
| Q3 25 | $36.0M | $833.0M | ||
| Q2 25 | $25.0M | $377.0M | ||
| Q1 25 | $40.0M | $263.0M | ||
| Q4 24 | $26.0M | $560.0M | ||
| Q3 24 | $22.0M | $435.0M | ||
| Q2 24 | $18.0M | $475.0M | ||
| Q1 24 | $14.0M | $446.0M |
总债务CTBBRIG
| Q4 25 | $1.7B | $5.2B | ||
| Q3 25 | $1.7B | $4.8B | ||
| Q2 25 | $1.7B | $5.9B | ||
| Q1 25 | $1.7B | $5.9B | ||
| Q4 24 | $1.7B | $6.2B | ||
| Q3 24 | $1.7B | $6.5B | ||
| Q2 24 | $1.9B | $6.8B | ||
| Q1 24 | $1.9B | $6.8B |
股东权益CTBBRIG
| Q4 25 | $10.9B | $8.1B | ||
| Q3 25 | $13.0B | $8.1B | ||
| Q2 25 | $12.8B | $9.4B | ||
| Q1 25 | $12.5B | $10.2B | ||
| Q4 24 | $12.2B | $10.3B | ||
| Q3 24 | $11.9B | $10.2B | ||
| Q2 24 | $11.5B | $10.7B | ||
| Q1 24 | $11.1B | $10.5B |
总资产CTBBRIG
| Q4 25 | $15.8B | $15.6B | ||
| Q3 25 | $17.9B | $16.2B | ||
| Q2 25 | $17.8B | $17.8B | ||
| Q1 25 | $17.6B | $19.0B | ||
| Q4 24 | $17.4B | $19.4B | ||
| Q3 24 | $17.0B | $19.5B | ||
| Q2 24 | $16.6B | $20.3B | ||
| Q1 24 | $16.4B | $19.9B |
负债/权益比CTBBRIG
| Q4 25 | 0.15× | 0.64× | ||
| Q3 25 | 0.13× | 0.60× | ||
| Q2 25 | 0.13× | 0.63× | ||
| Q1 25 | 0.13× | 0.58× | ||
| Q4 24 | 0.14× | 0.60× | ||
| Q3 24 | 0.14× | 0.64× | ||
| Q2 24 | 0.17× | 0.63× | ||
| Q1 24 | 0.17× | 0.65× |
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 | $402.0M | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $160.0M | $321.0M |
| 自由现金流率自由现金流/营收 | 14.5% | 30.8% |
| 资本支出强度资本支出/营收 | 22.0% | 2.7% |
| 现金转化率经营现金流/净利润 | — | 13.96× |
| 过去12个月自由现金流最近4个季度 | $938.0M | $626.0M |
8季度趋势，按日历期对齐
经营现金流CTBBRIG
| Q4 25 | $402.0M | $349.0M | ||
| Q3 25 | $427.0M | $246.0M | ||
| Q2 25 | $480.0M | $128.0M | ||
| Q1 25 | $453.0M | $26.0M | ||
| Q4 24 | $548.0M | $206.0M | ||
| Q3 24 | $627.0M | $194.0M | ||
| Q2 24 | $548.0M | $133.0M | ||
| Q1 24 | $471.0M | $-86.0M |
自由现金流CTBBRIG
| Q4 25 | $160.0M | $321.0M | ||
| Q3 25 | $252.0M | $235.0M | ||
| Q2 25 | $276.0M | $104.0M | ||
| Q1 25 | $250.0M | $-34.0M | ||
| Q4 24 | $277.0M | $177.0M | ||
| Q3 24 | $396.0M | $136.0M | ||
| Q2 24 | $280.0M | $49.0M | ||
| Q1 24 | $194.0M | $-169.0M |
自由现金流率CTBBRIG
| Q4 25 | 14.5% | 30.8% | ||
| Q3 25 | 23.1% | 22.9% | ||
| Q2 25 | 24.2% | 10.5% | ||
| Q1 25 | 21.7% | -3.8% | ||
| Q4 24 | 21.4% | 18.6% | ||
| Q3 24 | 30.6% | 14.3% | ||
| Q2 24 | 21.3% | 5.7% | ||
| Q1 24 | 14.7% | -22.1% |
资本支出强度CTBBRIG
| Q4 25 | 22.0% | 2.7% | ||
| Q3 25 | 16.0% | 1.1% | ||
| Q2 25 | 17.9% | 2.4% | ||
| Q1 25 | 17.6% | 6.6% | ||
| Q4 24 | 20.9% | 3.0% | ||
| Q3 24 | 17.9% | 6.1% | ||
| Q2 24 | 20.4% | 9.8% | ||
| Q1 24 | 21.0% | 10.9% |
现金转化率CTBBRIG
| Q4 25 | — | 13.96× | ||
| Q3 25 | 2.43× | — | ||
| Q2 25 | 1.73× | — | ||
| Q1 25 | 1.60× | — | ||
| Q4 24 | 1.40× | 29.43× | ||
| Q3 24 | 1.72× | — | ||
| Q2 24 | 1.45× | — | ||
| Q1 24 | 1.33× | -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
CTBB
| Nonrelated Party | $665.0M | 60% |
| Other | $436.0M | 40% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
