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DNOW Inc.（DNOW）与Innovex International, Inc.（INVX）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Innovex International, Inc.的3.5倍（$959.0M vs $273.6M）。Innovex International, Inc.净利率更高（5.1% vs -16.8%，领先21.9%）。DNOW Inc.同比增速更快（68.0% vs 9.1%）。过去两年Innovex International, Inc.的营收复合增速更高（46.2% vs 30.5%）
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。
DNOW vs INVX — 直观对比
营收规模更大
DNOW
是对方的3.5倍
$273.6M
营收增速更快
DNOW
高出58.8%
9.1%
净利率更高
INVX
高出21.9%
-16.8%
两年增速更快
INVX
近两年复合增速
30.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $959.0M | $273.6M |
| 净利润 | $-161.0M | $14.0M |
| 毛利率 | 5.2% | 28.9% |
| 营业利润率 | -19.6% | 9.4% |
| 净利率 | -16.8% | 5.1% |
| 营收同比 | 68.0% | 9.1% |
| 净利润同比 | -905.0% | -56.1% |
| 每股收益（稀释后） | $-1.42 | $0.20 |
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DNOWINVX
| Q4 25 | $959.0M | $273.6M | ||
| Q3 25 | $634.0M | $240.0M | ||
| Q2 25 | $628.0M | $224.2M | ||
| Q1 25 | $599.0M | $240.4M | ||
| Q4 24 | $571.0M | $250.7M | ||
| Q3 24 | $606.0M | $151.8M | ||
| Q2 24 | $633.0M | $130.3M | ||
| Q1 24 | $563.0M | $128.0M |
净利润DNOWINVX
| Q4 25 | $-161.0M | $14.0M | ||
| Q3 25 | $25.0M | $39.2M | ||
| Q2 25 | $25.0M | $15.3M | ||
| Q1 25 | $22.0M | $14.8M | ||
| Q4 24 | $20.0M | $31.8M | ||
| Q3 24 | $13.0M | $82.6M | ||
| Q2 24 | $24.0M | $9.5M | ||
| Q1 24 | $21.0M | $16.4M |
毛利率DNOWINVX
| Q4 25 | 5.2% | 28.9% | ||
| Q3 25 | 22.9% | 31.6% | ||
| Q2 25 | 22.9% | 32.0% | ||
| Q1 25 | 23.2% | 31.8% | ||
| Q4 24 | 22.6% | 33.9% | ||
| Q3 24 | 22.3% | 34.7% | ||
| Q2 24 | 21.8% | 35.3% | ||
| Q1 24 | 22.9% | 38.4% |
营业利润率DNOWINVX
| Q4 25 | -19.6% | 9.4% | ||
| Q3 25 | 5.2% | 26.0% | ||
| Q2 25 | 5.1% | 10.1% | ||
| Q1 25 | 5.0% | 9.1% | ||
| Q4 24 | 4.4% | 10.7% | ||
| Q3 24 | 3.8% | -8.7% | ||
| Q2 24 | 5.2% | 10.0% | ||
| Q1 24 | 5.0% | 17.4% |
净利率DNOWINVX
| Q4 25 | -16.8% | 5.1% | ||
| Q3 25 | 3.9% | 16.3% | ||
| Q2 25 | 4.0% | 6.8% | ||
| Q1 25 | 3.7% | 6.1% | ||
| Q4 24 | 3.5% | 12.7% | ||
| Q3 24 | 2.1% | 54.4% | ||
| Q2 24 | 3.8% | 7.3% | ||
| Q1 24 | 3.7% | 12.8% |
每股收益（稀释后）DNOWINVX
| Q4 25 | $-1.42 | $0.20 | ||
| Q3 25 | $0.23 | $0.57 | ||
| Q2 25 | $0.23 | $0.22 | ||
| Q1 25 | $0.20 | $0.21 | ||
| Q4 24 | $0.19 | $-0.03 | ||
| Q3 24 | $0.12 | $1.99 | ||
| Q2 24 | $0.21 | $0.30 | ||
| Q1 24 | $0.19 | $0.51 |
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 | — |
| 总债务越低越好 | $411.0M | $18.9M |
| 股东权益账面价值 | $2.2B | $1.1B |
| 总资产 | $3.9B | $1.3B |
| 负债/权益比越低杠杆越低 | 0.18× | 0.02× |
8季度趋势，按日历期对齐
现金及短期投资DNOWINVX
| Q4 25 | $164.0M | — | ||
| Q3 25 | $266.0M | — | ||
| Q2 25 | $232.0M | — | ||
| Q1 25 | $219.0M | — | ||
| Q4 24 | $256.0M | — | ||
| Q3 24 | $261.0M | — | ||
| Q2 24 | $197.0M | $185.6M | ||
| Q1 24 | $188.0M | $202.2M |
总债务DNOWINVX
| Q4 25 | $411.0M | $18.9M | ||
| Q3 25 | — | $20.1M | ||
| Q2 25 | — | $34.8M | ||
| Q1 25 | — | $19.7M | ||
| Q4 24 | $0 | $24.9M | ||
| Q3 24 | — | $12.4M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DNOWINVX
| Q4 25 | $2.2B | $1.1B | ||
| Q3 25 | $1.2B | $1.0B | ||
| Q2 25 | $1.2B | $995.6M | ||
| Q1 25 | $1.1B | $978.4M | ||
| Q4 24 | $1.1B | $958.2M | ||
| Q3 24 | $1.1B | $904.4M | ||
| Q2 24 | $1.1B | $352.5M | ||
| Q1 24 | $1.1B | $344.3M |
总资产DNOWINVX
| Q4 25 | $3.9B | $1.3B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.7B | $1.2B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $1.6B | $1.0B | ||
| Q1 24 | $1.6B | $1.0B |
负债/权益比DNOWINVX
| Q4 25 | 0.18× | 0.02× | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.03× | ||
| Q1 25 | — | 0.02× | ||
| Q4 24 | 0.00× | 0.03× | ||
| Q3 24 | — | 0.01× | ||
| 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 | $52.2M |
| 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 | — | 3.74× |
| 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DNOWINVX
| Q4 25 | $83.0M | $52.2M | ||
| Q3 25 | $43.0M | $48.4M | ||
| Q2 25 | $45.0M | $59.2M | ||
| Q1 25 | $-16.0M | $31.1M | ||
| Q4 24 | $122.0M | $36.3M | ||
| Q3 24 | $74.0M | $21.7M | ||
| Q2 24 | $21.0M | $22.8M | ||
| Q1 24 | $81.0M | $12.6M |
自由现金流DNOWINVX
| 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 | $16.6M | ||
| Q1 24 | $80.0M | $7.8M |
自由现金流率DNOWINVX
| 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% | 12.7% | ||
| Q1 24 | 14.2% | 6.1% |
资本支出强度DNOWINVX
| 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% | 4.7% | ||
| Q1 24 | 0.2% | 3.7% |
现金转化率DNOWINVX
| Q4 25 | — | 3.74× | ||
| Q3 25 | 1.72× | 1.23× | ||
| Q2 25 | 1.80× | 3.86× | ||
| Q1 25 | -0.73× | 2.11× | ||
| Q4 24 | 6.10× | 1.14× | ||
| Q3 24 | 5.69× | 0.26× | ||
| Q2 24 | 0.88× | 2.39× | ||
| Q1 24 | 3.86× | 0.77× |
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% |
INVX
| Products | $202.7M | 74% |
| Leasing | $42.3M | 15% |
| Services | $28.6M | 10% |
