vs
DNOW Inc.（DNOW）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的1.5倍（$959.0M vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs -16.8%，领先51.2%），DNOW Inc.同比增速更快（68.0% vs 4.8%），过去两年DNOW Inc.的营收复合增速更高（30.5% vs 4.6%）
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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
DNOW vs RPRX — 直观对比
营收规模更大
DNOW
是对方的1.5倍
$622.0M
营收增速更快
DNOW
高出63.2%
4.8%
净利率更高
RPRX
高出51.2%
-16.8%
两年增速更快
DNOW
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $959.0M | $622.0M |
| 净利润 | $-161.0M | $214.2M |
| 毛利率 | 5.2% | — |
| 营业利润率 | -19.6% | 62.4% |
| 净利率 | -16.8% | 34.4% |
| 营收同比 | 68.0% | 4.8% |
| 净利润同比 | -905.0% | 2.9% |
| 每股收益（稀释后） | $-1.42 | $0.49 |
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DNOWRPRX
| Q4 25 | $959.0M | $622.0M | ||
| Q3 25 | $634.0M | $609.3M | ||
| Q2 25 | $628.0M | $578.7M | ||
| Q1 25 | $599.0M | $568.2M | ||
| Q4 24 | $571.0M | $593.6M | ||
| Q3 24 | $606.0M | $564.7M | ||
| Q2 24 | $633.0M | $537.3M | ||
| Q1 24 | $563.0M | $568.0M |
净利润DNOWRPRX
| Q4 25 | $-161.0M | $214.2M | ||
| Q3 25 | $25.0M | $288.2M | ||
| Q2 25 | $25.0M | $30.2M | ||
| Q1 25 | $22.0M | $238.3M | ||
| Q4 24 | $20.0M | $208.2M | ||
| Q3 24 | $13.0M | $544.0M | ||
| Q2 24 | $24.0M | $102.0M | ||
| Q1 24 | $21.0M | $4.8M |
毛利率DNOWRPRX
| 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DNOWRPRX
| Q4 25 | -19.6% | 62.4% | ||
| Q3 25 | 5.2% | 70.1% | ||
| Q2 25 | 5.1% | 36.3% | ||
| Q1 25 | 5.0% | 94.0% | ||
| Q4 24 | 4.4% | 60.9% | ||
| Q3 24 | 3.8% | — | ||
| Q2 24 | 5.2% | 50.2% | ||
| Q1 24 | 5.0% | -13.0% |
净利率DNOWRPRX
| Q4 25 | -16.8% | 34.4% | ||
| Q3 25 | 3.9% | 47.3% | ||
| Q2 25 | 4.0% | 5.2% | ||
| Q1 25 | 3.7% | 41.9% | ||
| Q4 24 | 3.5% | 35.1% | ||
| Q3 24 | 2.1% | 96.3% | ||
| Q2 24 | 3.8% | 19.0% | ||
| Q1 24 | 3.7% | 0.8% |
每股收益（稀释后）DNOWRPRX
| Q4 25 | $-1.42 | $0.49 | ||
| Q3 25 | $0.23 | $0.67 | ||
| Q2 25 | $0.23 | $0.07 | ||
| Q1 25 | $0.20 | $0.55 | ||
| Q4 24 | $0.19 | $0.46 | ||
| Q3 24 | $0.12 | $1.21 | ||
| Q2 24 | $0.21 | $0.23 | ||
| Q1 24 | $0.19 | $0.01 |
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 | $618.7M |
| 总债务越低越好 | $411.0M | $9.0B |
| 股东权益账面价值 | $2.2B | $9.7B |
| 总资产 | $3.9B | $19.6B |
| 负债/权益比越低杠杆越低 | 0.18× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资DNOWRPRX
| Q4 25 | $164.0M | $618.7M | ||
| Q3 25 | $266.0M | $938.9M | ||
| Q2 25 | $232.0M | $631.9M | ||
| Q1 25 | $219.0M | $1.1B | ||
| Q4 24 | $256.0M | $929.0M | ||
| Q3 24 | $261.0M | $950.1M | ||
| Q2 24 | $197.0M | $1.8B | ||
| Q1 24 | $188.0M | $843.0M |
总债务DNOWRPRX
| Q4 25 | $411.0M | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | $0 | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
股东权益DNOWRPRX
| Q4 25 | $2.2B | $9.7B | ||
| Q3 25 | $1.2B | $9.6B | ||
| Q2 25 | $1.2B | $9.5B | ||
| Q1 25 | $1.1B | $9.8B | ||
| Q4 24 | $1.1B | $10.3B | ||
| Q3 24 | $1.1B | $10.3B | ||
| Q2 24 | $1.1B | $9.8B | ||
| Q1 24 | $1.1B | $9.9B |
总资产DNOWRPRX
| Q4 25 | $3.9B | $19.6B | ||
| Q3 25 | $1.7B | $19.3B | ||
| Q2 25 | $1.7B | $18.3B | ||
| Q1 25 | $1.7B | $17.6B | ||
| Q4 24 | $1.6B | $18.2B | ||
| Q3 24 | $1.6B | $18.0B | ||
| Q2 24 | $1.6B | $17.7B | ||
| Q1 24 | $1.6B | $16.1B |
负债/权益比DNOWRPRX
| Q4 25 | 0.18× | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | 0.00× | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $827.1M |
| 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 | — | 3.86× |
| 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DNOWRPRX
| Q4 25 | $83.0M | $827.1M | ||
| Q3 25 | $43.0M | $702.6M | ||
| Q2 25 | $45.0M | $364.0M | ||
| Q1 25 | $-16.0M | $596.1M | ||
| Q4 24 | $122.0M | $742.5M | ||
| Q3 24 | $74.0M | $703.6M | ||
| Q2 24 | $21.0M | $658.2M | ||
| Q1 24 | $81.0M | $664.6M |
自由现金流DNOWRPRX
| 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 | — | ||
| Q1 24 | $80.0M | — |
自由现金流率DNOWRPRX
| 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% | — | ||
| Q1 24 | 14.2% | — |
资本支出强度DNOWRPRX
| 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% | — | ||
| Q1 24 | 0.2% | — |
现金转化率DNOWRPRX
| Q4 25 | — | 3.86× | ||
| Q3 25 | 1.72× | 2.44× | ||
| Q2 25 | 1.80× | 12.06× | ||
| Q1 25 | -0.73× | 2.50× | ||
| Q4 24 | 6.10× | 3.57× | ||
| Q3 24 | 5.69× | 1.29× | ||
| Q2 24 | 0.88× | 6.45× | ||
| Q1 24 | 3.86× | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
