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DNOW Inc.（DNOW）与Rackspace Technology, Inc.（RXT）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Rackspace Technology, Inc.的1.4倍（$959.0M vs $682.8M），Rackspace Technology, Inc.净利率更高（-4.8% vs -16.8%，领先12.0%），DNOW Inc.同比增速更快（68.0% vs -0.4%），DNOW Inc.自由现金流更多（$76.0M vs $56.0M），过去两年DNOW Inc.的营收复合增速更高（30.5% vs -0.6%）
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。
Rackspace Technology, Inc.是总部位于美国得克萨斯州圣安东尼奥的云计算企业，在弗吉尼亚州雷斯顿以及澳大利亚、加拿大、英国、印度、迪拜、瑞士、荷兰、德国、新加坡、墨西哥、中国香港等多个国家和地区设有办事处，数据中心分布于全球多个主要城市，为客户提供专业的云计算相关服务。
DNOW vs RXT — 直观对比
营收规模更大
DNOW
是对方的1.4倍
$682.8M
营收增速更快
DNOW
高出68.4%
-0.4%
净利率更高
RXT
高出12.0%
-16.8%
自由现金流更多
DNOW
多$20.0M
$56.0M
两年增速更快
DNOW
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $959.0M | $682.8M |
| 净利润 | $-161.0M | $-32.7M |
| 毛利率 | 5.2% | 17.6% |
| 营业利润率 | -19.6% | -0.5% |
| 净利率 | -16.8% | -4.8% |
| 营收同比 | 68.0% | -0.4% |
| 净利润同比 | -905.0% | 41.6% |
| 每股收益（稀释后） | $-1.42 | $-0.13 |
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DNOWRXT
| Q4 25 | $959.0M | $682.8M | ||
| Q3 25 | $634.0M | $671.2M | ||
| Q2 25 | $628.0M | $666.3M | ||
| Q1 25 | $599.0M | $665.4M | ||
| Q4 24 | $571.0M | $685.6M | ||
| Q3 24 | $606.0M | $675.8M | ||
| Q2 24 | $633.0M | $684.9M | ||
| Q1 24 | $563.0M | $690.8M |
净利润DNOWRXT
| Q4 25 | $-161.0M | $-32.7M | ||
| Q3 25 | $25.0M | $-67.1M | ||
| Q2 25 | $25.0M | $-54.5M | ||
| Q1 25 | $22.0M | $-71.5M | ||
| Q4 24 | $20.0M | $-56.0M | ||
| Q3 24 | $13.0M | $-186.6M | ||
| Q2 24 | $24.0M | $25.0M | ||
| Q1 24 | $21.0M | $-640.6M |
毛利率DNOWRXT
| Q4 25 | 5.2% | 17.6% | ||
| Q3 25 | 22.9% | 19.4% | ||
| Q2 25 | 22.9% | 19.4% | ||
| Q1 25 | 23.2% | 19.1% | ||
| Q4 24 | 22.6% | 19.2% | ||
| Q3 24 | 22.3% | 20.3% | ||
| Q2 24 | 21.8% | 19.2% | ||
| Q1 24 | 22.9% | 19.2% |
营业利润率DNOWRXT
| Q4 25 | -19.6% | -0.5% | ||
| Q3 25 | 5.2% | -5.1% | ||
| Q2 25 | 5.1% | -3.8% | ||
| Q1 25 | 5.0% | -5.8% | ||
| Q4 24 | 4.4% | -4.2% | ||
| Q3 24 | 3.8% | -25.7% | ||
| Q2 24 | 5.2% | -7.9% | ||
| Q1 24 | 5.0% | -94.5% |
净利率DNOWRXT
| Q4 25 | -16.8% | -4.8% | ||
| Q3 25 | 3.9% | -10.0% | ||
| Q2 25 | 4.0% | -8.2% | ||
| Q1 25 | 3.7% | -10.7% | ||
| Q4 24 | 3.5% | -8.2% | ||
| Q3 24 | 2.1% | -27.6% | ||
| Q2 24 | 3.8% | 3.7% | ||
| Q1 24 | 3.7% | -92.7% |
每股收益（稀释后）DNOWRXT
| Q4 25 | $-1.42 | $-0.13 | ||
| Q3 25 | $0.23 | $-0.28 | ||
| Q2 25 | $0.23 | $-0.23 | ||
| Q1 25 | $0.20 | $-0.31 | ||
| Q4 24 | $0.19 | $-0.20 | ||
| Q3 24 | $0.12 | $-0.82 | ||
| Q2 24 | $0.21 | $0.11 | ||
| Q1 24 | $0.19 | $-2.91 |
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 | $105.8M |
| 总债务越低越好 | $411.0M | $2.7B |
| 股东权益账面价值 | $2.2B | $-1.2B |
| 总资产 | $3.9B | $2.8B |
| 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DNOWRXT
| Q4 25 | $164.0M | $105.8M | ||
| Q3 25 | $266.0M | $99.5M | ||
| Q2 25 | $232.0M | $103.9M | ||
| Q1 25 | $219.0M | $128.0M | ||
| Q4 24 | $256.0M | $144.0M | ||
| Q3 24 | $261.0M | $157.1M | ||
| Q2 24 | $197.0M | $190.2M | ||
| Q1 24 | $188.0M | $282.6M |
总债务DNOWRXT
| Q4 25 | $411.0M | $2.7B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $0 | $2.8B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.9B | ||
| Q1 24 | — | $3.0B |
股东权益DNOWRXT
| Q4 25 | $2.2B | $-1.2B | ||
| Q3 25 | $1.2B | $-1.2B | ||
| Q2 25 | $1.2B | $-1.1B | ||
| Q1 25 | $1.1B | $-1.1B | ||
| Q4 24 | $1.1B | $-1.0B | ||
| Q3 24 | $1.1B | $-949.7M | ||
| Q2 24 | $1.1B | $-756.2M | ||
| Q1 24 | $1.1B | $-787.2M |
总资产DNOWRXT
| Q4 25 | $3.9B | $2.8B | ||
| Q3 25 | $1.7B | $2.8B | ||
| Q2 25 | $1.7B | $2.9B | ||
| Q1 25 | $1.7B | $3.0B | ||
| Q4 24 | $1.6B | $3.1B | ||
| Q3 24 | $1.6B | $3.1B | ||
| Q2 24 | $1.6B | $3.4B | ||
| Q1 24 | $1.6B | $3.5B |
负债/权益比DNOWRXT
| 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 | $59.7M |
| 自由现金流经营现金流 - 资本支出 | $76.0M | $56.0M |
| 自由现金流率自由现金流/营收 | 7.9% | 8.2% |
| 资本支出强度资本支出/营收 | 0.7% | 0.5% |
| 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 | $90.6M |
8季度趋势，按日历期对齐
经营现金流DNOWRXT
| Q4 25 | $83.0M | $59.7M | ||
| Q3 25 | $43.0M | $70.7M | ||
| Q2 25 | $45.0M | $8.4M | ||
| Q1 25 | $-16.0M | $12.6M | ||
| Q4 24 | $122.0M | $54.3M | ||
| Q3 24 | $74.0M | $51.8M | ||
| Q2 24 | $21.0M | $24.1M | ||
| Q1 24 | $81.0M | $-90.3M |
自由现金流DNOWRXT
| Q4 25 | $76.0M | $56.0M | ||
| Q3 25 | $39.0M | $42.7M | ||
| Q2 25 | $41.0M | $-12.4M | ||
| Q1 25 | $-22.0M | $4.3M | ||
| Q4 24 | $119.0M | $34.4M | ||
| Q3 24 | $72.0M | $27.3M | ||
| Q2 24 | $18.0M | $-14.5M | ||
| Q1 24 | $80.0M | $-118.4M |
自由现金流率DNOWRXT
| Q4 25 | 7.9% | 8.2% | ||
| Q3 25 | 6.2% | 6.4% | ||
| Q2 25 | 6.5% | -1.9% | ||
| Q1 25 | -3.7% | 0.6% | ||
| Q4 24 | 20.8% | 5.0% | ||
| Q3 24 | 11.9% | 4.0% | ||
| Q2 24 | 2.8% | -2.1% | ||
| Q1 24 | 14.2% | -17.1% |
资本支出强度DNOWRXT
| Q4 25 | 0.7% | 0.5% | ||
| Q3 25 | 0.6% | 4.2% | ||
| Q2 25 | 0.6% | 3.1% | ||
| Q1 25 | 1.0% | 1.2% | ||
| Q4 24 | 0.5% | 2.9% | ||
| Q3 24 | 0.3% | 3.6% | ||
| Q2 24 | 0.5% | 5.6% | ||
| Q1 24 | 0.2% | 4.1% |
现金转化率DNOWRXT
| 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× | 0.96× | ||
| 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% |
RXT
| Public Cloud Services Segment | $442.2M | 65% |
| Private Cloud Service Segment | $240.6M | 35% |
