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DNOW Inc.（DNOW）与TechnipFMC plc（FTI）财务数据对比。点击上方公司名可切换其他公司
TechnipFMC plc的季度营收约是DNOW Inc.的2.6倍（$2.5B vs $959.0M）。TechnipFMC plc净利率更高（9.6% vs -16.8%，领先26.4%）。DNOW Inc.同比增速更快（68.0% vs 6.3%）。TechnipFMC plc自由现金流更多（$359.1M vs $76.0M）。过去两年DNOW Inc.的营收复合增速更高（30.5% vs 11.0%）
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。
TechnipFMC是一家注册地位于英国的全球能源服务商，兼具法国与美国企业背景，核心业务为油气领域提供专业技术与服务支持。公司由美国FMC科技与法国Technip于2016年宣布合并，2017年正式完成组建，业务覆盖全球主要能源市场。
DNOW vs FTI — 直观对比
营收规模更大
FTI
是对方的2.6倍
$959.0M
营收增速更快
DNOW
高出61.6%
6.3%
净利率更高
FTI
高出26.4%
-16.8%
自由现金流更多
FTI
多$283.1M
$76.0M
两年增速更快
DNOW
近两年复合增速
11.0%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $959.0M | $2.5B |
| 净利润 | $-161.0M | $242.7M |
| 毛利率 | 5.2% | — |
| 营业利润率 | -19.6% | 12.6% |
| 净利率 | -16.8% | 9.6% |
| 营收同比 | 68.0% | 6.3% |
| 净利润同比 | -905.0% | 8.0% |
| 每股收益（稀释后） | $-1.42 | $0.58 |
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DNOWFTI
| Q4 25 | $959.0M | $2.5B | ||
| Q3 25 | $634.0M | $2.6B | ||
| Q2 25 | $628.0M | $2.5B | ||
| Q1 25 | $599.0M | $2.2B | ||
| Q4 24 | $571.0M | $2.4B | ||
| Q3 24 | $606.0M | $2.3B | ||
| Q2 24 | $633.0M | $2.3B | ||
| Q1 24 | $563.0M | $2.0B |
净利润DNOWFTI
| Q4 25 | $-161.0M | $242.7M | ||
| Q3 25 | $25.0M | $309.7M | ||
| Q2 25 | $25.0M | $269.5M | ||
| Q1 25 | $22.0M | $142.0M | ||
| Q4 24 | $20.0M | $224.7M | ||
| Q3 24 | $13.0M | $274.6M | ||
| Q2 24 | $24.0M | $186.5M | ||
| Q1 24 | $21.0M | $157.1M |
毛利率DNOWFTI
| Q4 25 | 5.2% | — | ||
| Q3 25 | 22.9% | — | ||
| Q2 25 | 22.9% | 23.1% | ||
| Q1 25 | 23.2% | 20.5% | ||
| Q4 24 | 22.6% | — | ||
| Q3 24 | 22.3% | — | ||
| Q2 24 | 21.8% | 21.2% | ||
| Q1 24 | 22.9% | 16.4% |
营业利润率DNOWFTI
| Q4 25 | -19.6% | 12.6% | ||
| Q3 25 | 5.2% | 16.5% | ||
| Q2 25 | 5.1% | 15.9% | ||
| Q1 25 | 5.0% | 12.5% | ||
| Q4 24 | 4.4% | 11.3% | ||
| Q3 24 | 3.8% | 13.7% | ||
| Q2 24 | 5.2% | 13.3% | ||
| Q1 24 | 5.0% | 12.7% |
净利率DNOWFTI
| Q4 25 | -16.8% | 9.6% | ||
| Q3 25 | 3.9% | 11.7% | ||
| Q2 25 | 4.0% | 10.6% | ||
| Q1 25 | 3.7% | 6.4% | ||
| Q4 24 | 3.5% | 9.5% | ||
| Q3 24 | 2.1% | 11.7% | ||
| Q2 24 | 3.8% | 8.0% | ||
| Q1 24 | 3.7% | 7.7% |
每股收益（稀释后）DNOWFTI
| Q4 25 | $-1.42 | $0.58 | ||
| Q3 25 | $0.23 | $0.75 | ||
| Q2 25 | $0.23 | $0.64 | ||
| Q1 25 | $0.20 | $0.33 | ||
| Q4 24 | $0.19 | $0.51 | ||
| Q3 24 | $0.12 | $0.63 | ||
| Q2 24 | $0.21 | $0.42 | ||
| Q1 24 | $0.19 | $0.35 |
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 | $1.0B |
| 总债务越低越好 | $411.0M | $430.0M |
| 股东权益账面价值 | $2.2B | $3.4B |
| 总资产 | $3.9B | $10.1B |
| 负债/权益比越低杠杆越低 | 0.18× | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资DNOWFTI
| Q4 25 | $164.0M | $1.0B | ||
| Q3 25 | $266.0M | $876.6M | ||
| Q2 25 | $232.0M | $950.0M | ||
| Q1 25 | $219.0M | $1.2B | ||
| Q4 24 | $256.0M | $1.2B | ||
| Q3 24 | $261.0M | — | ||
| Q2 24 | $197.0M | — | ||
| Q1 24 | $188.0M | — |
总债务DNOWFTI
| Q4 25 | $411.0M | $430.0M | ||
| Q3 25 | — | $438.0M | ||
| Q2 25 | — | $696.3M | ||
| Q1 25 | — | $904.9M | ||
| Q4 24 | $0 | $885.2M | ||
| Q3 24 | — | $966.7M | ||
| Q2 24 | — | $968.4M | ||
| Q1 24 | — | $1.0B |
股东权益DNOWFTI
| Q4 25 | $2.2B | $3.4B | ||
| Q3 25 | $1.2B | $3.3B | ||
| Q2 25 | $1.2B | $3.3B | ||
| Q1 25 | $1.1B | $3.1B | ||
| Q4 24 | $1.1B | $3.1B | ||
| Q3 24 | $1.1B | $3.3B | ||
| Q2 24 | $1.1B | $3.0B | ||
| Q1 24 | $1.1B | $3.0B |
总资产DNOWFTI
| Q4 25 | $3.9B | $10.1B | ||
| Q3 25 | $1.7B | $10.3B | ||
| Q2 25 | $1.7B | $10.1B | ||
| Q1 25 | $1.7B | $10.0B | ||
| Q4 24 | $1.6B | $9.9B | ||
| Q3 24 | $1.6B | $9.7B | ||
| Q2 24 | $1.6B | $9.2B | ||
| Q1 24 | $1.6B | $9.1B |
负债/权益比DNOWFTI
| Q4 25 | 0.18× | 0.13× | ||
| Q3 25 | — | 0.13× | ||
| Q2 25 | — | 0.21× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | 0.00× | 0.29× | ||
| Q3 24 | — | 0.30× | ||
| Q2 24 | — | 0.33× | ||
| Q1 24 | — | 0.34× |
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 | $453.6M |
| 自由现金流经营现金流 - 资本支出 | $76.0M | $359.1M |
| 自由现金流率自由现金流/营收 | 7.9% | 14.3% |
| 资本支出强度资本支出/营收 | 0.7% | 3.8% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 过去12个月自由现金流最近4个季度 | $134.0M | $1.4B |
8季度趋势，按日历期对齐
经营现金流DNOWFTI
| Q4 25 | $83.0M | $453.6M | ||
| Q3 25 | $43.0M | $525.1M | ||
| Q2 25 | $45.0M | $344.2M | ||
| Q1 25 | $-16.0M | $441.7M | ||
| Q4 24 | $122.0M | $578.9M | ||
| Q3 24 | $74.0M | $277.9M | ||
| Q2 24 | $21.0M | $230.9M | ||
| Q1 24 | $81.0M | $-126.7M |
自由现金流DNOWFTI
| Q4 25 | $76.0M | $359.1M | ||
| Q3 25 | $39.0M | $447.8M | ||
| Q2 25 | $41.0M | $260.6M | ||
| Q1 25 | $-22.0M | $379.9M | ||
| Q4 24 | $119.0M | $452.7M | ||
| Q3 24 | $72.0M | $225.3M | ||
| Q2 24 | $18.0M | $180.1M | ||
| Q1 24 | $80.0M | $-178.7M |
自由现金流率DNOWFTI
| Q4 25 | 7.9% | 14.3% | ||
| Q3 25 | 6.2% | 16.9% | ||
| Q2 25 | 6.5% | 10.3% | ||
| Q1 25 | -3.7% | 17.0% | ||
| Q4 24 | 20.8% | 19.1% | ||
| Q3 24 | 11.9% | 9.6% | ||
| Q2 24 | 2.8% | 7.7% | ||
| Q1 24 | 14.2% | -8.8% |
资本支出强度DNOWFTI
| Q4 25 | 0.7% | 3.8% | ||
| Q3 25 | 0.6% | 2.9% | ||
| Q2 25 | 0.6% | 3.3% | ||
| Q1 25 | 1.0% | 2.8% | ||
| Q4 24 | 0.5% | 5.3% | ||
| Q3 24 | 0.3% | 2.2% | ||
| Q2 24 | 0.5% | 2.2% | ||
| Q1 24 | 0.2% | 2.5% |
现金转化率DNOWFTI
| Q4 25 | — | 1.87× | ||
| Q3 25 | 1.72× | 1.70× | ||
| Q2 25 | 1.80× | 1.28× | ||
| Q1 25 | -0.73× | 3.11× | ||
| Q4 24 | 6.10× | 2.58× | ||
| Q3 24 | 5.69× | 1.01× | ||
| Q2 24 | 0.88× | 1.24× | ||
| Q1 24 | 3.86× | -0.81× |
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% |
FTI
| Services | $1.3B | 52% |
| Products | $1.1B | 44% |
| Other | $55.1M | 2% |
| Surface Technologies | $22.4M | 1% |
