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DNOW Inc.（DNOW）与Solaris Energy Infrastructure, Inc.（SEI）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Solaris Energy Infrastructure, Inc.的5.3倍（$959.0M vs $179.7M）。Solaris Energy Infrastructure, Inc.净利率更高（-0.9% vs -16.8%，领先15.9%）。Solaris Energy Infrastructure, Inc.同比增速更快（86.6% vs 68.0%）。DNOW Inc.自由现金流更多（$76.0M vs $-158.6M）。过去两年Solaris Energy Infrastructure, Inc.的营收复合增速更高（62.7% 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。
AGL能源有限公司是澳大利亚上市企业，业务涵盖民用及商用电力、天然气的生产与零售，是国家电力市场三大零售商之一。作为澳大利亚最大的电力生产商，该公司同时也是该国最大的碳排放主体。
DNOW vs SEI — 直观对比
营收规模更大
DNOW
是对方的5.3倍
$179.7M
营收增速更快
SEI
高出18.7%
68.0%
净利率更高
SEI
高出15.9%
-16.8%
自由现金流更多
DNOW
多$234.6M
$-158.6M
两年增速更快
SEI
近两年复合增速
30.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $959.0M | $179.7M |
| 净利润 | $-161.0M | $-1.7M |
| 毛利率 | 5.2% | — |
| 营业利润率 | -19.6% | 22.2% |
| 净利率 | -16.8% | -0.9% |
| 营收同比 | 68.0% | 86.6% |
| 净利润同比 | -905.0% | -126.5% |
| 每股收益（稀释后） | $-1.42 | — |
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DNOWSEI
| Q4 25 | $959.0M | $179.7M | ||
| Q3 25 | $634.0M | $166.8M | ||
| Q2 25 | $628.0M | $149.3M | ||
| Q1 25 | $599.0M | $126.3M | ||
| Q4 24 | $571.0M | $96.3M | ||
| Q3 24 | $606.0M | $75.0M | ||
| Q2 24 | $633.0M | $73.9M | ||
| Q1 24 | $563.0M | $67.9M |
净利润DNOWSEI
| Q4 25 | $-161.0M | $-1.7M | ||
| Q3 25 | $25.0M | $14.6M | ||
| Q2 25 | $25.0M | $12.0M | ||
| Q1 25 | $22.0M | $5.3M | ||
| Q4 24 | $20.0M | $6.3M | ||
| Q3 24 | $13.0M | $-968.0K | ||
| Q2 24 | $24.0M | $6.2M | ||
| Q1 24 | $21.0M | $4.3M |
毛利率DNOWSEI
| 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DNOWSEI
| Q4 25 | -19.6% | 22.2% | ||
| Q3 25 | 5.2% | 22.7% | ||
| Q2 25 | 5.1% | 23.8% | ||
| Q1 25 | 5.0% | 17.5% | ||
| Q4 24 | 4.4% | 26.7% | ||
| Q3 24 | 3.8% | 7.0% | ||
| Q2 24 | 5.2% | 16.0% | ||
| Q1 24 | 5.0% | 14.7% |
净利率DNOWSEI
| Q4 25 | -16.8% | -0.9% | ||
| Q3 25 | 3.9% | 8.7% | ||
| Q2 25 | 4.0% | 8.0% | ||
| Q1 25 | 3.7% | 4.2% | ||
| Q4 24 | 3.5% | 6.5% | ||
| Q3 24 | 2.1% | -1.3% | ||
| Q2 24 | 3.8% | 8.4% | ||
| Q1 24 | 3.7% | 6.4% |
每股收益（稀释后）DNOWSEI
| Q4 25 | $-1.42 | — | ||
| Q3 25 | $0.23 | — | ||
| Q2 25 | $0.23 | — | ||
| Q1 25 | $0.20 | — | ||
| Q4 24 | $0.19 | — | ||
| Q3 24 | $0.12 | — | ||
| Q2 24 | $0.21 | — | ||
| Q1 24 | $0.19 | — |
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 | $353.3M |
| 总债务越低越好 | $411.0M | $184.0M |
| 股东权益账面价值 | $2.2B | $564.3M |
| 总资产 | $3.9B | $2.1B |
| 负债/权益比越低杠杆越低 | 0.18× | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资DNOWSEI
| Q4 25 | $164.0M | $353.3M | ||
| Q3 25 | $266.0M | $106.7M | ||
| Q2 25 | $232.0M | $99.6M | ||
| Q1 25 | $219.0M | $16.7M | ||
| Q4 24 | $256.0M | $114.3M | ||
| Q3 24 | $261.0M | $18.6M | ||
| Q2 24 | $197.0M | $5.1M | ||
| Q1 24 | $188.0M | $3.4M |
总债务DNOWSEI
| Q4 25 | $411.0M | $184.0M | ||
| Q3 25 | — | $382.8M | ||
| Q2 25 | — | $386.2M | ||
| Q1 25 | — | $316.2M | ||
| Q4 24 | $0 | $315.7M | ||
| Q3 24 | — | $315.3M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DNOWSEI
| Q4 25 | $2.2B | $564.3M | ||
| Q3 25 | $1.2B | $546.6M | ||
| Q2 25 | $1.2B | $399.1M | ||
| Q1 25 | $1.1B | $361.3M | ||
| Q4 24 | $1.1B | $355.6M | ||
| Q3 24 | $1.1B | $221.7M | ||
| Q2 24 | $1.1B | $204.6M | ||
| Q1 24 | $1.1B | $200.1M |
总资产DNOWSEI
| Q4 25 | $3.9B | $2.1B | ||
| Q3 25 | $1.7B | $1.6B | ||
| Q2 25 | $1.7B | $1.5B | ||
| Q1 25 | $1.7B | $1.1B | ||
| Q4 24 | $1.6B | $1.1B | ||
| Q3 24 | $1.6B | $939.5M | ||
| Q2 24 | $1.6B | $457.8M | ||
| Q1 24 | $1.6B | $457.1M |
负债/权益比DNOWSEI
| Q4 25 | 0.18× | 0.33× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | 0.88× | ||
| Q4 24 | 0.00× | 0.89× | ||
| Q3 24 | — | 1.42× | ||
| 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 | $95.9M |
| 自由现金流经营现金流 - 资本支出 | $76.0M | $-158.6M |
| 自由现金流率自由现金流/营收 | 7.9% | -88.2% |
| 资本支出强度资本支出/营收 | 0.7% | 141.6% |
| 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 | $-437.7M |
8季度趋势，按日历期对齐
经营现金流DNOWSEI
| Q4 25 | $83.0M | $95.9M | ||
| Q3 25 | $43.0M | $63.3M | ||
| Q2 25 | $45.0M | $24.2M | ||
| Q1 25 | $-16.0M | $25.7M | ||
| Q4 24 | $122.0M | $13.1M | ||
| Q3 24 | $74.0M | $10.5M | ||
| Q2 24 | $21.0M | $18.9M | ||
| Q1 24 | $81.0M | $16.9M |
自由现金流DNOWSEI
| Q4 25 | $76.0M | $-158.6M | ||
| Q3 25 | $39.0M | $462.0K | ||
| Q2 25 | $41.0M | $-160.9M | ||
| Q1 25 | $-22.0M | $-118.6M | ||
| Q4 24 | $119.0M | $-113.6M | ||
| Q3 24 | $72.0M | $-47.2M | ||
| Q2 24 | $18.0M | $18.2M | ||
| Q1 24 | $80.0M | $13.5M |
自由现金流率DNOWSEI
| Q4 25 | 7.9% | -88.2% | ||
| Q3 25 | 6.2% | 0.3% | ||
| Q2 25 | 6.5% | -107.8% | ||
| Q1 25 | -3.7% | -93.9% | ||
| Q4 24 | 20.8% | -117.9% | ||
| Q3 24 | 11.9% | -63.0% | ||
| Q2 24 | 2.8% | 24.7% | ||
| Q1 24 | 14.2% | 19.9% |
资本支出强度DNOWSEI
| Q4 25 | 0.7% | 141.6% | ||
| Q3 25 | 0.6% | 37.6% | ||
| Q2 25 | 0.6% | 124.0% | ||
| Q1 25 | 1.0% | 114.2% | ||
| Q4 24 | 0.5% | 131.5% | ||
| Q3 24 | 0.3% | 77.0% | ||
| Q2 24 | 0.5% | 0.9% | ||
| Q1 24 | 0.2% | 4.9% |
现金转化率DNOWSEI
| Q4 25 | — | — | ||
| Q3 25 | 1.72× | 4.35× | ||
| Q2 25 | 1.80× | 2.02× | ||
| Q1 25 | -0.73× | 4.83× | ||
| Q4 24 | 6.10× | 2.10× | ||
| Q3 24 | 5.69× | — | ||
| Q2 24 | 0.88× | 3.04× | ||
| Q1 24 | 3.86× | 3.91× |
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% |
SEI
| Solaris Power Solutions | $103.7M | 58% |
| Solaris Logistics Solutions | $76.1M | 42% |
