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DNOW Inc.（DNOW）与FactSet（FDS）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FactSet的1.6倍（$959.0M vs $607.6M），FactSet净利率更高（25.1% vs -16.8%，领先41.9%），DNOW Inc.同比增速更快（68.0% vs 6.9%），FactSet自由现金流更多（$90.4M vs $76.0M），过去两年DNOW Inc.的营收复合增速更高（30.5% vs 5.5%）
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。
FactSet是总部位于美国康涅狄格州诺沃克的金融数据与软件企业，为客户提供一体化数据及软件解决方案。2024财年，公司年度订阅价值与专业服务营收合计22亿美元，当前总市值约170亿美元。
DNOW vs FDS — 直观对比
营收规模更大
DNOW
是对方的1.6倍
$607.6M
营收增速更快
DNOW
高出61.1%
6.9%
净利率更高
FDS
高出41.9%
-16.8%
自由现金流更多
FDS
多$14.4M
$76.0M
两年增速更快
DNOW
近两年复合增速
5.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $959.0M | $607.6M |
| 净利润 | $-161.0M | $152.6M |
| 毛利率 | 5.2% | 52.6% |
| 营业利润率 | -19.6% | 31.6% |
| 净利率 | -16.8% | 25.1% |
| 营收同比 | 68.0% | 6.9% |
| 净利润同比 | -905.0% | 1.7% |
| 每股收益（稀释后） | $-1.42 | $4.06 |
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DNOWFDS
| Q4 25 | $959.0M | $607.6M | ||
| Q3 25 | $634.0M | $596.9M | ||
| Q2 25 | $628.0M | $585.5M | ||
| Q1 25 | $599.0M | $570.7M | ||
| Q4 24 | $571.0M | $568.7M | ||
| Q3 24 | $606.0M | $562.2M | ||
| Q2 24 | $633.0M | $552.7M | ||
| Q1 24 | $563.0M | $545.9M |
净利润DNOWFDS
| Q4 25 | $-161.0M | $152.6M | ||
| Q3 25 | $25.0M | $153.6M | ||
| Q2 25 | $25.0M | $148.5M | ||
| Q1 25 | $22.0M | $144.9M | ||
| Q4 24 | $20.0M | $150.0M | ||
| Q3 24 | $13.0M | $89.5M | ||
| Q2 24 | $24.0M | $158.1M | ||
| Q1 24 | $21.0M | $140.9M |
毛利率DNOWFDS
| Q4 25 | 5.2% | 52.6% | ||
| Q3 25 | 22.9% | 51.6% | ||
| Q2 25 | 22.9% | 52.1% | ||
| Q1 25 | 23.2% | 52.8% | ||
| Q4 24 | 22.6% | 54.5% | ||
| Q3 24 | 22.3% | 54.1% | ||
| Q2 24 | 21.8% | 55.3% | ||
| Q1 24 | 22.9% | 53.3% |
营业利润率DNOWFDS
| Q4 25 | -19.6% | 31.6% | ||
| Q3 25 | 5.2% | 29.7% | ||
| Q2 25 | 5.1% | 33.2% | ||
| Q1 25 | 5.0% | 32.5% | ||
| Q4 24 | 4.4% | 33.6% | ||
| Q3 24 | 3.8% | 22.7% | ||
| Q2 24 | 5.2% | 36.6% | ||
| Q1 24 | 5.0% | 33.3% |
净利率DNOWFDS
| Q4 25 | -16.8% | 25.1% | ||
| Q3 25 | 3.9% | 25.7% | ||
| Q2 25 | 4.0% | 25.4% | ||
| Q1 25 | 3.7% | 25.4% | ||
| Q4 24 | 3.5% | 26.4% | ||
| Q3 24 | 2.1% | 15.9% | ||
| Q2 24 | 3.8% | 28.6% | ||
| Q1 24 | 3.7% | 25.8% |
每股收益（稀释后）DNOWFDS
| Q4 25 | $-1.42 | $4.06 | ||
| Q3 25 | $0.23 | $4.03 | ||
| Q2 25 | $0.23 | $3.87 | ||
| Q1 25 | $0.20 | $3.76 | ||
| Q4 24 | $0.19 | $3.89 | ||
| Q3 24 | $0.12 | $2.33 | ||
| Q2 24 | $0.21 | $4.09 | ||
| Q1 24 | $0.19 | $3.65 |
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 | $292.7M |
| 总债务越低越好 | $411.0M | $1.4B |
| 股东权益账面价值 | $2.2B | $2.2B |
| 总资产 | $3.9B | $4.2B |
| 负债/权益比越低杠杆越低 | 0.18× | 0.63× |
8季度趋势，按日历期对齐
现金及短期投资DNOWFDS
| Q4 25 | $164.0M | $292.7M | ||
| Q3 25 | $266.0M | $355.1M | ||
| Q2 25 | $232.0M | $364.0M | ||
| Q1 25 | $219.0M | $287.0M | ||
| Q4 24 | $256.0M | $358.8M | ||
| Q3 24 | $261.0M | $492.6M | ||
| Q2 24 | $197.0M | $522.0M | ||
| Q1 24 | $188.0M | $450.2M |
总债务DNOWFDS
| Q4 25 | $411.0M | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $0 | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.5B |
股东权益DNOWFDS
| Q4 25 | $2.2B | $2.2B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $1.2B | $2.2B | ||
| Q1 25 | $1.1B | $2.1B | ||
| Q4 24 | $1.1B | $2.0B | ||
| Q3 24 | $1.1B | $1.9B | ||
| Q2 24 | $1.1B | $1.9B | ||
| Q1 24 | $1.1B | $1.8B |
总资产DNOWFDS
| Q4 25 | $3.9B | $4.2B | ||
| Q3 25 | $1.7B | $4.3B | ||
| Q2 25 | $1.7B | $4.3B | ||
| Q1 25 | $1.7B | $4.2B | ||
| Q4 24 | $1.6B | $4.0B | ||
| Q3 24 | $1.6B | $4.1B | ||
| Q2 24 | $1.6B | $4.0B | ||
| Q1 24 | $1.6B | $4.0B |
负债/权益比DNOWFDS
| Q4 25 | 0.18× | 0.63× | ||
| Q3 25 | — | 0.63× | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | 0.00× | 0.68× | ||
| Q3 24 | — | 0.71× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.83× |
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 | $121.3M |
| 自由现金流经营现金流 - 资本支出 | $76.0M | $90.4M |
| 自由现金流率自由现金流/营收 | 7.9% | 14.9% |
| 资本支出强度资本支出/营收 | 0.7% | 5.1% |
| 现金转化率经营现金流/净利润 | — | 0.79× |
| 过去12个月自由现金流最近4个季度 | $134.0M | $647.4M |
8季度趋势，按日历期对齐
经营现金流DNOWFDS
| Q4 25 | $83.0M | $121.3M | ||
| Q3 25 | $43.0M | $212.1M | ||
| Q2 25 | $45.0M | $253.8M | ||
| Q1 25 | $-16.0M | $174.0M | ||
| Q4 24 | $122.0M | $86.4M | ||
| Q3 24 | $74.0M | $163.2M | ||
| Q2 24 | $21.0M | $238.2M | ||
| Q1 24 | $81.0M | $143.8M |
自由现金流DNOWFDS
| Q4 25 | $76.0M | $90.4M | ||
| Q3 25 | $39.0M | $178.1M | ||
| Q2 25 | $41.0M | $228.6M | ||
| Q1 25 | $-22.0M | $150.2M | ||
| Q4 24 | $119.0M | $60.5M | ||
| Q3 24 | $72.0M | $137.2M | ||
| Q2 24 | $18.0M | $216.9M | ||
| Q1 24 | $80.0M | $121.9M |
自由现金流率DNOWFDS
| Q4 25 | 7.9% | 14.9% | ||
| Q3 25 | 6.2% | 29.8% | ||
| Q2 25 | 6.5% | 39.0% | ||
| Q1 25 | -3.7% | 26.3% | ||
| Q4 24 | 20.8% | 10.6% | ||
| Q3 24 | 11.9% | 24.4% | ||
| Q2 24 | 2.8% | 39.2% | ||
| Q1 24 | 14.2% | 22.3% |
资本支出强度DNOWFDS
| Q4 25 | 0.7% | 5.1% | ||
| Q3 25 | 0.6% | 5.7% | ||
| Q2 25 | 0.6% | 4.3% | ||
| Q1 25 | 1.0% | 4.2% | ||
| Q4 24 | 0.5% | 4.5% | ||
| Q3 24 | 0.3% | 4.6% | ||
| Q2 24 | 0.5% | 3.9% | ||
| Q1 24 | 0.2% | 4.0% |
现金转化率DNOWFDS
| Q4 25 | — | 0.79× | ||
| Q3 25 | 1.72× | 1.38× | ||
| Q2 25 | 1.80× | 1.71× | ||
| Q1 25 | -0.73× | 1.20× | ||
| Q4 24 | 6.10× | 0.58× | ||
| Q3 24 | 5.69× | 1.82× | ||
| Q2 24 | 0.88× | 1.51× | ||
| Q1 24 | 3.86× | 1.02× |
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% |
FDS
| Americas Segment | $399.7M | 66% |
| EMEA Segment | $149.1M | 25% |
| Asia Pacific Segment | $62.2M | 10% |
