vs
DNOW Inc.（DNOW）与Fabrinet（FN）财务数据对比。点击上方公司名可切换其他公司
Fabrinet的季度营收约是DNOW Inc.的1.2倍（$1.1B vs $959.0M），Fabrinet净利率更高（9.9% vs -16.8%，领先26.7%），DNOW Inc.同比增速更快（68.0% vs 35.9%），DNOW Inc.自由现金流更多（$76.0M vs $-5.3M），过去两年DNOW Inc.的营收复合增速更高（30.5% vs 24.4%）
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。
Fabrinet（股票代码FN）为标普中型股400指数成分股。该指数由标普道琼斯指数公司维护，覆盖400家以美企为主的中等市值企业，若成分企业存在多类流通股，指数的成分股总量有时会超过400只。
DNOW vs FN — 直观对比
营收规模更大
FN
是对方的1.2倍
$959.0M
营收增速更快
DNOW
高出32.0%
35.9%
净利率更高
FN
高出26.7%
-16.8%
自由现金流更多
DNOW
多$81.3M
$-5.3M
两年增速更快
DNOW
近两年复合增速
24.4%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $959.0M | $1.1B |
| 净利润 | $-161.0M | $112.6M |
| 毛利率 | 5.2% | 12.2% |
| 营业利润率 | -19.6% | 10.1% |
| 净利率 | -16.8% | 9.9% |
| 营收同比 | 68.0% | 35.9% |
| 净利润同比 | -905.0% | 30.0% |
| 每股收益（稀释后） | $-1.42 | $3.11 |
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DNOWFN
| Q4 25 | $959.0M | $1.1B | ||
| Q3 25 | $634.0M | $978.1M | ||
| Q2 25 | $628.0M | $909.7M | ||
| Q1 25 | $599.0M | $871.8M | ||
| Q4 24 | $571.0M | $833.6M | ||
| Q3 24 | $606.0M | $804.2M | ||
| Q2 24 | $633.0M | $753.3M | ||
| Q1 24 | $563.0M | $731.5M |
净利润DNOWFN
| Q4 25 | $-161.0M | $112.6M | ||
| Q3 25 | $25.0M | $95.9M | ||
| Q2 25 | $25.0M | $87.2M | ||
| Q1 25 | $22.0M | $81.3M | ||
| Q4 24 | $20.0M | $86.6M | ||
| Q3 24 | $13.0M | $77.4M | ||
| Q2 24 | $24.0M | $81.1M | ||
| Q1 24 | $21.0M | $80.9M |
毛利率DNOWFN
| Q4 25 | 5.2% | 12.2% | ||
| Q3 25 | 22.9% | 11.9% | ||
| Q2 25 | 22.9% | 12.2% | ||
| Q1 25 | 23.2% | 11.7% | ||
| Q4 24 | 22.6% | 12.1% | ||
| Q3 24 | 22.3% | 12.3% | ||
| Q2 24 | 21.8% | 12.3% | ||
| Q1 24 | 22.9% | 12.4% |
营业利润率DNOWFN
| Q4 25 | -19.6% | 10.1% | ||
| Q3 25 | 5.2% | 9.6% | ||
| Q2 25 | 5.1% | 9.8% | ||
| Q1 25 | 5.0% | 9.0% | ||
| Q4 24 | 4.4% | 9.5% | ||
| Q3 24 | 3.8% | 9.6% | ||
| Q2 24 | 5.2% | 9.7% | ||
| Q1 24 | 5.0% | 9.7% |
净利率DNOWFN
| Q4 25 | -16.8% | 9.9% | ||
| Q3 25 | 3.9% | 9.8% | ||
| Q2 25 | 4.0% | 9.6% | ||
| Q1 25 | 3.7% | 9.3% | ||
| Q4 24 | 3.5% | 10.4% | ||
| Q3 24 | 2.1% | 9.6% | ||
| Q2 24 | 3.8% | 10.8% | ||
| Q1 24 | 3.7% | 11.1% |
每股收益（稀释后）DNOWFN
| Q4 25 | $-1.42 | $3.11 | ||
| Q3 25 | $0.23 | $2.66 | ||
| Q2 25 | $0.23 | $2.41 | ||
| Q1 25 | $0.20 | $2.25 | ||
| Q4 24 | $0.19 | $2.38 | ||
| Q3 24 | $0.12 | $2.13 | ||
| Q2 24 | $0.21 | $2.22 | ||
| Q1 24 | $0.19 | $2.21 |
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 | $164.0M | $960.8M |
| 总债务越低越好 | $411.0M | — |
| 股东权益账面价值 | $2.2B | $2.2B |
| 总资产 | $3.9B | $3.3B |
| 负债/权益比越低杠杆越低 | 0.18× | — |
8季度趋势，按日历期对齐
现金及短期投资DNOWFN
| Q4 25 | $164.0M | $960.8M | ||
| Q3 25 | $266.0M | $968.8M | ||
| Q2 25 | $232.0M | $934.2M | ||
| Q1 25 | $219.0M | $950.7M | ||
| Q4 24 | $256.0M | $934.6M | ||
| Q3 24 | $261.0M | $908.9M | ||
| Q2 24 | $197.0M | $858.6M | ||
| Q1 24 | $188.0M | $794.0M |
总债务DNOWFN
| Q4 25 | $411.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DNOWFN
| Q4 25 | $2.2B | $2.2B | ||
| Q3 25 | $1.2B | $2.1B | ||
| Q2 25 | $1.2B | $2.0B | ||
| Q1 25 | $1.1B | $1.9B | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $1.1B | $1.8B | ||
| Q2 24 | $1.1B | $1.7B | ||
| Q1 24 | $1.1B | $1.7B |
总资产DNOWFN
| Q4 25 | $3.9B | $3.3B | ||
| Q3 25 | $1.7B | $3.0B | ||
| Q2 25 | $1.7B | $2.8B | ||
| Q1 25 | $1.7B | $2.6B | ||
| Q4 24 | $1.6B | $2.5B | ||
| Q3 24 | $1.6B | $2.4B | ||
| Q2 24 | $1.6B | $2.3B | ||
| Q1 24 | $1.6B | $2.2B |
负债/权益比DNOWFN
| Q4 25 | 0.18× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $46.3M |
| 自由现金流经营现金流 - 资本支出 | $76.0M | $-5.3M |
| 自由现金流率自由现金流/营收 | 7.9% | -0.5% |
| 资本支出强度资本支出/营收 | 0.7% | 4.6% |
| 现金转化率经营现金流/净利润 | — | 0.41× |
| 过去12个月自由现金流最近4个季度 | $134.0M | $102.3M |
8季度趋势，按日历期对齐
经营现金流DNOWFN
| Q4 25 | $83.0M | $46.3M | ||
| Q3 25 | $43.0M | $102.6M | ||
| Q2 25 | $45.0M | $55.1M | ||
| Q1 25 | $-16.0M | $74.2M | ||
| Q4 24 | $122.0M | $115.9M | ||
| Q3 24 | $74.0M | $83.2M | ||
| Q2 24 | $21.0M | $83.1M | ||
| Q1 24 | $81.0M | $100.9M |
自由现金流DNOWFN
| Q4 25 | $76.0M | $-5.3M | ||
| Q3 25 | $39.0M | $57.3M | ||
| Q2 25 | $41.0M | $4.7M | ||
| Q1 25 | $-22.0M | $45.7M | ||
| Q4 24 | $119.0M | $94.0M | ||
| Q3 24 | $72.0M | $62.9M | ||
| Q2 24 | $18.0M | $70.4M | ||
| Q1 24 | $80.0M | $87.3M |
自由现金流率DNOWFN
| Q4 25 | 7.9% | -0.5% | ||
| Q3 25 | 6.2% | 5.9% | ||
| Q2 25 | 6.5% | 0.5% | ||
| Q1 25 | -3.7% | 5.2% | ||
| Q4 24 | 20.8% | 11.3% | ||
| Q3 24 | 11.9% | 7.8% | ||
| Q2 24 | 2.8% | 9.3% | ||
| Q1 24 | 14.2% | 11.9% |
资本支出强度DNOWFN
| Q4 25 | 0.7% | 4.6% | ||
| Q3 25 | 0.6% | 4.6% | ||
| Q2 25 | 0.6% | 5.5% | ||
| Q1 25 | 1.0% | 3.3% | ||
| Q4 24 | 0.5% | 2.6% | ||
| Q3 24 | 0.3% | 2.5% | ||
| Q2 24 | 0.5% | 1.7% | ||
| Q1 24 | 0.2% | 1.9% |
现金转化率DNOWFN
| Q4 25 | — | 0.41× | ||
| Q3 25 | 1.72× | 1.07× | ||
| Q2 25 | 1.80× | 0.63× | ||
| Q1 25 | -0.73× | 0.91× | ||
| Q4 24 | 6.10× | 1.34× | ||
| Q3 24 | 5.69× | 1.07× | ||
| Q2 24 | 0.88× | 1.02× | ||
| Q1 24 | 3.86× | 1.25× |
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% |
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
