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DNOW Inc.（DNOW）与FirstCash Holdings, Inc.（FCFS）财务数据对比。点击上方公司名可切换其他公司
DNOW Inc.的季度营收约是FirstCash Holdings, Inc.的1.9倍（$959.0M vs $501.3M），FirstCash Holdings, Inc.净利率更高（20.8% vs -16.8%，领先37.6%），DNOW Inc.同比增速更快（68.0% vs 21.2%），过去两年DNOW Inc.的营收复合增速更高（30.5% vs 16.9%）
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。
FirstCash Holdings, Inc.是总部位于美国得克萨斯州沃斯堡的典当企业，在美国及拉丁美洲多地运营线下典当零售门店，为纳斯达克证券交易所公开上市企业，在美洲典当服务领域拥有成熟的业务布局与完善的运营网络。
DNOW vs FCFS — 直观对比
营收规模更大
DNOW
是对方的1.9倍
$501.3M
营收增速更快
DNOW
高出46.8%
21.2%
净利率更高
FCFS
高出37.6%
-16.8%
两年增速更快
DNOW
近两年复合增速
16.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $959.0M | $501.3M |
| 净利润 | $-161.0M | $104.2M |
| 毛利率 | 5.2% | — |
| 营业利润率 | -19.6% | 28.5% |
| 净利率 | -16.8% | 20.8% |
| 营收同比 | 68.0% | 21.2% |
| 净利润同比 | -905.0% | 24.7% |
| 每股收益（稀释后） | $-1.42 | $2.35 |
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DNOWFCFS
| Q4 25 | $959.0M | $501.3M | ||
| Q3 25 | $634.0M | $411.0M | ||
| Q2 25 | $628.0M | $385.1M | ||
| Q1 25 | $599.0M | $371.1M | ||
| Q4 24 | $571.0M | $413.7M | ||
| Q3 24 | $606.0M | $363.1M | ||
| Q2 24 | $633.0M | $363.5M | ||
| Q1 24 | $563.0M | $366.8M |
净利润DNOWFCFS
| Q4 25 | $-161.0M | $104.2M | ||
| Q3 25 | $25.0M | $82.8M | ||
| Q2 25 | $25.0M | $59.8M | ||
| Q1 25 | $22.0M | $83.6M | ||
| Q4 24 | $20.0M | $83.5M | ||
| Q3 24 | $13.0M | $64.8M | ||
| Q2 24 | $24.0M | $49.1M | ||
| Q1 24 | $21.0M | $61.4M |
毛利率DNOWFCFS
| 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% | — | ||
| Q1 24 | 22.9% | — |
营业利润率DNOWFCFS
| Q4 25 | -19.6% | 28.5% | ||
| Q3 25 | 5.2% | 27.4% | ||
| Q2 25 | 5.1% | 21.1% | ||
| Q1 25 | 5.0% | 30.0% | ||
| Q4 24 | 4.4% | 26.5% | ||
| Q3 24 | 3.8% | 23.5% | ||
| Q2 24 | 5.2% | 18.2% | ||
| Q1 24 | 5.0% | 22.3% |
净利率DNOWFCFS
| Q4 25 | -16.8% | 20.8% | ||
| Q3 25 | 3.9% | 20.1% | ||
| Q2 25 | 4.0% | 15.5% | ||
| Q1 25 | 3.7% | 22.5% | ||
| Q4 24 | 3.5% | 20.2% | ||
| Q3 24 | 2.1% | 17.9% | ||
| Q2 24 | 3.8% | 13.5% | ||
| Q1 24 | 3.7% | 16.7% |
每股收益（稀释后）DNOWFCFS
| Q4 25 | $-1.42 | $2.35 | ||
| Q3 25 | $0.23 | $1.86 | ||
| Q2 25 | $0.23 | $1.34 | ||
| Q1 25 | $0.20 | $1.87 | ||
| Q4 24 | $0.19 | $1.86 | ||
| Q3 24 | $0.12 | $1.44 | ||
| Q2 24 | $0.21 | $1.08 | ||
| Q1 24 | $0.19 | $1.35 |
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 | $164.0M | $125.2M |
| 总债务越低越好 | $411.0M | $2.2B |
| 股东权益账面价值 | $2.2B | $2.3B |
| 总资产 | $3.9B | $5.3B |
| 负债/权益比越低杠杆越低 | 0.18× | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资DNOWFCFS
| Q4 25 | $164.0M | $125.2M | ||
| Q3 25 | $266.0M | $130.2M | ||
| Q2 25 | $232.0M | $101.5M | ||
| Q1 25 | $219.0M | $146.0M | ||
| Q4 24 | $256.0M | $175.1M | ||
| Q3 24 | $261.0M | $106.3M | ||
| Q2 24 | $197.0M | $113.7M | ||
| Q1 24 | $188.0M | $135.1M |
总债务DNOWFCFS
| Q4 25 | $411.0M | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $0 | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.5B |
股东权益DNOWFCFS
| Q4 25 | $2.2B | $2.3B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $1.1B | $2.1B | ||
| Q4 24 | $1.1B | $2.1B | ||
| Q3 24 | $1.1B | $2.0B | ||
| Q2 24 | $1.1B | $2.0B | ||
| Q1 24 | $1.1B | $2.0B |
总资产DNOWFCFS
| Q4 25 | $3.9B | $5.3B | ||
| Q3 25 | $1.7B | $5.2B | ||
| Q2 25 | $1.7B | $4.5B | ||
| Q1 25 | $1.7B | $4.4B | ||
| Q4 24 | $1.6B | $4.5B | ||
| Q3 24 | $1.6B | $4.4B | ||
| Q2 24 | $1.6B | $4.3B | ||
| Q1 24 | $1.6B | $4.2B |
负债/权益比DNOWFCFS
| Q4 25 | 0.18× | 0.98× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 0.79× | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | 0.00× | 0.85× | ||
| Q3 24 | — | 0.87× | ||
| Q2 24 | — | 0.85× | ||
| Q1 24 | — | 0.75× |
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 | $206.6M |
| 自由现金流经营现金流 - 资本支出 | $76.0M | — |
| 自由现金流率自由现金流/营收 | 7.9% | — |
| 资本支出强度资本支出/营收 | 0.7% | — |
| 现金转化率经营现金流/净利润 | — | 1.98× |
| 过去12个月自由现金流最近4个季度 | $134.0M | — |
8季度趋势，按日历期对齐
经营现金流DNOWFCFS
| Q4 25 | $83.0M | $206.6M | ||
| Q3 25 | $43.0M | $135.8M | ||
| Q2 25 | $45.0M | $116.9M | ||
| Q1 25 | $-16.0M | $126.6M | ||
| Q4 24 | $122.0M | $198.1M | ||
| Q3 24 | $74.0M | $113.1M | ||
| Q2 24 | $21.0M | $106.2M | ||
| Q1 24 | $81.0M | $122.5M |
自由现金流DNOWFCFS
| Q4 25 | $76.0M | — | ||
| Q3 25 | $39.0M | — | ||
| Q2 25 | $41.0M | — | ||
| Q1 25 | $-22.0M | — | ||
| Q4 24 | $119.0M | — | ||
| Q3 24 | $72.0M | — | ||
| Q2 24 | $18.0M | — | ||
| Q1 24 | $80.0M | — |
自由现金流率DNOWFCFS
| Q4 25 | 7.9% | — | ||
| Q3 25 | 6.2% | — | ||
| Q2 25 | 6.5% | — | ||
| Q1 25 | -3.7% | — | ||
| Q4 24 | 20.8% | — | ||
| Q3 24 | 11.9% | — | ||
| Q2 24 | 2.8% | — | ||
| Q1 24 | 14.2% | — |
资本支出强度DNOWFCFS
| Q4 25 | 0.7% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.3% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 0.2% | — |
现金转化率DNOWFCFS
| Q4 25 | — | 1.98× | ||
| Q3 25 | 1.72× | 1.64× | ||
| Q2 25 | 1.80× | 1.95× | ||
| Q1 25 | -0.73× | 1.51× | ||
| Q4 24 | 6.10× | 2.37× | ||
| Q3 24 | 5.69× | 1.74× | ||
| Q2 24 | 0.88× | 2.16× | ||
| Q1 24 | 3.86× | 2.00× |
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
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% |
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
