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DNOW Inc.（DNOW）与Fortrea Holdings Inc.（FTRE）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Fortrea Holdings Inc.的1.5倍（$959.0M vs $660.5M），Fortrea Holdings Inc.净利率更高（-4.9% vs -16.8%，领先11.9%），DNOW Inc.同比增速更快（68.0% vs -5.2%），Fortrea Holdings Inc.自由现金流更多（$121.6M vs $76.0M），过去两年DNOW Inc.的营收复合增速更高（30.5% vs -0.1%）
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。
Fortrea Holdings Inc.是一家总部位于美国北卡罗来纳州达勒姆、注册地为特拉华州的合同研究组织，业务覆盖90个国家，主要服务制药、生物技术和医疗器械行业客户，为相关领域的研发提供专业支持。
DNOW vs FTRE — 直观对比
营收规模更大
DNOW
是对方的1.5倍
$660.5M
营收增速更快
DNOW
高出73.2%
-5.2%
净利率更高
FTRE
高出11.9%
-16.8%
自由现金流更多
FTRE
多$45.6M
$76.0M
两年增速更快
DNOW
近两年复合增速
-0.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $959.0M | $660.5M |
| 净利润 | $-161.0M | $-32.5M |
| 毛利率 | 5.2% | — |
| 营业利润率 | -19.6% | -2.1% |
| 净利率 | -16.8% | -4.9% |
| 营收同比 | 68.0% | -5.2% |
| 净利润同比 | -905.0% | 46.9% |
| 每股收益（稀释后） | $-1.42 | $-0.25 |
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DNOWFTRE
| Q4 25 | $959.0M | $660.5M | ||
| Q3 25 | $634.0M | $701.3M | ||
| Q2 25 | $628.0M | $710.3M | ||
| Q1 25 | $599.0M | $651.3M | ||
| Q4 24 | $571.0M | $697.0M | ||
| Q3 24 | $606.0M | $674.9M | ||
| Q2 24 | $633.0M | $662.4M | ||
| Q1 24 | $563.0M | $662.1M |
净利润DNOWFTRE
| Q4 25 | $-161.0M | $-32.5M | ||
| Q3 25 | $25.0M | $-15.9M | ||
| Q2 25 | $25.0M | $-374.9M | ||
| Q1 25 | $22.0M | $-562.9M | ||
| Q4 24 | $20.0M | $-61.2M | ||
| Q3 24 | $13.0M | $-27.9M | ||
| Q2 24 | $24.0M | $-138.4M | ||
| Q1 24 | $21.0M | $-101.0M |
毛利率DNOWFTRE
| 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DNOWFTRE
| Q4 25 | -19.6% | -2.1% | ||
| Q3 25 | 5.2% | -1.2% | ||
| Q2 25 | 5.1% | -46.5% | ||
| Q1 25 | 5.0% | -79.9% | ||
| Q4 24 | 4.4% | -8.0% | ||
| Q3 24 | 3.8% | -2.7% | ||
| Q2 24 | 5.2% | -7.7% | ||
| Q1 24 | 5.0% | -5.6% |
净利率DNOWFTRE
| Q4 25 | -16.8% | -4.9% | ||
| Q3 25 | 3.9% | -2.3% | ||
| Q2 25 | 4.0% | -52.8% | ||
| Q1 25 | 3.7% | -86.4% | ||
| Q4 24 | 3.5% | -8.8% | ||
| Q3 24 | 2.1% | -4.1% | ||
| Q2 24 | 3.8% | -20.9% | ||
| Q1 24 | 3.7% | -15.3% |
每股收益（稀释后）DNOWFTRE
| Q4 25 | $-1.42 | $-0.25 | ||
| Q3 25 | $0.23 | $-0.17 | ||
| Q2 25 | $0.23 | $-4.14 | ||
| Q1 25 | $0.20 | $-6.25 | ||
| Q4 24 | $0.19 | $-0.68 | ||
| Q3 24 | $0.12 | $-0.31 | ||
| Q2 24 | $0.21 | $-1.55 | ||
| Q1 24 | $0.19 | $-1.13 |
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 | $174.6M |
| 总债务越低越好 | $411.0M | — |
| 股东权益账面价值 | $2.2B | $563.5M |
| 总资产 | $3.9B | $2.7B |
| 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DNOWFTRE
| Q4 25 | $164.0M | $174.6M | ||
| Q3 25 | $266.0M | $131.3M | ||
| Q2 25 | $232.0M | $81.2M | ||
| Q1 25 | $219.0M | $101.6M | ||
| Q4 24 | $256.0M | $118.5M | ||
| Q3 24 | $261.0M | $105.3M | ||
| Q2 24 | $197.0M | $126.2M | ||
| Q1 24 | $188.0M | $92.8M |
总债务DNOWFTRE
| Q4 25 | $411.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DNOWFTRE
| Q4 25 | $2.2B | $563.5M | ||
| Q3 25 | $1.2B | $580.8M | ||
| Q2 25 | $1.2B | $589.2M | ||
| Q1 25 | $1.1B | $858.8M | ||
| Q4 24 | $1.1B | $1.4B | ||
| Q3 24 | $1.1B | $1.5B | ||
| Q2 24 | $1.1B | $1.5B | ||
| Q1 24 | $1.1B | $1.6B |
总资产DNOWFTRE
| Q4 25 | $3.9B | $2.7B | ||
| Q3 25 | $1.7B | $2.7B | ||
| Q2 25 | $1.7B | $2.8B | ||
| Q1 25 | $1.7B | $3.1B | ||
| Q4 24 | $1.6B | $3.6B | ||
| Q3 24 | $1.6B | $3.7B | ||
| Q2 24 | $1.6B | $3.6B | ||
| Q1 24 | $1.6B | $4.2B |
负债/权益比DNOWFTRE
| 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 | $129.1M |
| 自由现金流经营现金流 - 资本支出 | $76.0M | $121.6M |
| 自由现金流率自由现金流/营收 | 7.9% | 18.4% |
| 资本支出强度资本支出/营收 | 0.7% | 1.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $134.0M | $88.3M |
8季度趋势，按日历期对齐
经营现金流DNOWFTRE
| Q4 25 | $83.0M | $129.1M | ||
| Q3 25 | $43.0M | $86.8M | ||
| Q2 25 | $45.0M | $21.8M | ||
| Q1 25 | $-16.0M | $-124.2M | ||
| Q4 24 | $122.0M | $17.1M | ||
| Q3 24 | $74.0M | $-2.4M | ||
| Q2 24 | $21.0M | $273.7M | ||
| Q1 24 | $81.0M | $-25.6M |
自由现金流DNOWFTRE
| Q4 25 | $76.0M | $121.6M | ||
| Q3 25 | $39.0M | $79.5M | ||
| Q2 25 | $41.0M | $14.3M | ||
| Q1 25 | $-22.0M | $-127.1M | ||
| Q4 24 | $119.0M | $13.9M | ||
| Q3 24 | $72.0M | $-10.6M | ||
| Q2 24 | $18.0M | $262.5M | ||
| Q1 24 | $80.0M | $-34.9M |
自由现金流率DNOWFTRE
| Q4 25 | 7.9% | 18.4% | ||
| Q3 25 | 6.2% | 11.3% | ||
| Q2 25 | 6.5% | 2.0% | ||
| Q1 25 | -3.7% | -19.5% | ||
| Q4 24 | 20.8% | 2.0% | ||
| Q3 24 | 11.9% | -1.6% | ||
| Q2 24 | 2.8% | 39.6% | ||
| Q1 24 | 14.2% | -5.3% |
资本支出强度DNOWFTRE
| Q4 25 | 0.7% | 1.1% | ||
| Q3 25 | 0.6% | 1.0% | ||
| Q2 25 | 0.6% | 1.1% | ||
| Q1 25 | 1.0% | 0.4% | ||
| Q4 24 | 0.5% | 0.5% | ||
| Q3 24 | 0.3% | 1.2% | ||
| Q2 24 | 0.5% | 1.7% | ||
| Q1 24 | 0.2% | 1.4% |
现金转化率DNOWFTRE
| Q4 25 | — | — | ||
| Q3 25 | 1.72× | — | ||
| Q2 25 | 1.80× | — | ||
| Q1 25 | -0.73× | — | ||
| Q4 24 | 6.10× | — | ||
| Q3 24 | 5.69× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 3.86× | — |
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% |
FTRE
暂无分部数据
