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DNOW Inc.（DNOW）与威德福国际（WFRD）财务数据对比。点击上方公司名可切换其他公司
威德福国际的季度营收约是DNOW Inc.的1.2倍（$1.2B vs $959.0M）。威德福国际净利率更高（9.5% vs -16.8%，领先26.3%）。DNOW Inc.同比增速更快（68.0% vs -8.3%）。威德福国际自由现金流更多（$85.0M vs $76.0M）。过去两年DNOW Inc.的营收复合增速更高（30.5% vs -9.5%）
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。
威德福国际是一家美国跨国油田服务企业，总部位于美国，业务覆盖全球75个国家的油气产区，为油气井的钻探、评估、完井、生产及修井作业提供专业技术设备与相关服务，在全球油田服务领域拥有广泛布局。
DNOW vs WFRD — 直观对比
营收规模更大
WFRD
是对方的1.2倍
$959.0M
营收增速更快
DNOW
高出76.2%
-8.3%
净利率更高
WFRD
高出26.3%
-16.8%
自由现金流更多
WFRD
多$9.0M
$76.0M
两年增速更快
DNOW
近两年复合增速
-9.5%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $959.0M | $1.2B |
| 净利润 | $-161.0M | $109.0M |
| 毛利率 | 5.2% | — |
| 营业利润率 | -19.6% | 10.7% |
| 净利率 | -16.8% | 9.5% |
| 营收同比 | 68.0% | -8.3% |
| 净利润同比 | -905.0% | -21.6% |
| 每股收益（稀释后） | $-1.42 | $1.49 |
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DNOWWFRD
| Q1 26 | — | $1.2B | ||
| Q4 25 | $959.0M | $1.3B | ||
| Q3 25 | $634.0M | $1.2B | ||
| Q2 25 | $628.0M | $1.2B | ||
| Q1 25 | $599.0M | $1.2B | ||
| Q4 24 | $571.0M | $1.3B | ||
| Q3 24 | $606.0M | $1.4B | ||
| Q2 24 | $633.0M | $1.4B |
净利润DNOWWFRD
| Q1 26 | — | $109.0M | ||
| Q4 25 | $-161.0M | $138.0M | ||
| Q3 25 | $25.0M | $81.0M | ||
| Q2 25 | $25.0M | $136.0M | ||
| Q1 25 | $22.0M | $76.0M | ||
| Q4 24 | $20.0M | $112.0M | ||
| Q3 24 | $13.0M | $157.0M | ||
| Q2 24 | $24.0M | $125.0M |
毛利率DNOWWFRD
| Q1 26 | — | — | ||
| 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% | — |
营业利润率DNOWWFRD
| Q1 26 | — | 10.7% | ||
| Q4 25 | -19.6% | 15.4% | ||
| Q3 25 | 5.2% | 14.4% | ||
| Q2 25 | 5.1% | 19.7% | ||
| Q1 25 | 5.0% | 11.9% | ||
| Q4 24 | 4.4% | 14.8% | ||
| Q3 24 | 3.8% | 17.2% | ||
| Q2 24 | 5.2% | 18.8% |
净利率DNOWWFRD
| Q1 26 | — | 9.5% | ||
| Q4 25 | -16.8% | 10.7% | ||
| Q3 25 | 3.9% | 6.6% | ||
| Q2 25 | 4.0% | 11.3% | ||
| Q1 25 | 3.7% | 6.4% | ||
| Q4 24 | 3.5% | 8.4% | ||
| Q3 24 | 2.1% | 11.1% | ||
| Q2 24 | 3.8% | 8.9% |
每股收益（稀释后）DNOWWFRD
| Q1 26 | — | $1.49 | ||
| Q4 25 | $-1.42 | $1.91 | ||
| Q3 25 | $0.23 | $1.12 | ||
| Q2 25 | $0.23 | $1.87 | ||
| Q1 25 | $0.20 | $1.03 | ||
| Q4 24 | $0.19 | $1.53 | ||
| Q3 24 | $0.12 | $2.06 | ||
| Q2 24 | $0.21 | $1.66 |
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 | $1.0B |
| 总债务越低越好 | $411.0M | $1.5B |
| 股东权益账面价值 | $2.2B | $1.8B |
| 总资产 | $3.9B | — |
| 负债/权益比越低杠杆越低 | 0.18× | 0.84× |
8季度趋势，按日历期对齐
现金及短期投资DNOWWFRD
| Q1 26 | — | $1.0B | ||
| Q4 25 | $164.0M | $987.0M | ||
| Q3 25 | $266.0M | $967.0M | ||
| Q2 25 | $232.0M | $943.0M | ||
| Q1 25 | $219.0M | $873.0M | ||
| Q4 24 | $256.0M | $916.0M | ||
| Q3 24 | $261.0M | $920.0M | ||
| Q2 24 | $197.0M | $862.0M |
总债务DNOWWFRD
| Q1 26 | — | $1.5B | ||
| Q4 25 | $411.0M | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $0 | $1.6B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B |
股东权益DNOWWFRD
| Q1 26 | — | $1.8B | ||
| Q4 25 | $2.2B | $1.7B | ||
| Q3 25 | $1.2B | $1.6B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $1.1B | $1.2B |
总资产DNOWWFRD
| Q1 26 | — | — | ||
| Q4 25 | $3.9B | $5.2B | ||
| Q3 25 | $1.7B | $5.3B | ||
| Q2 25 | $1.7B | $5.1B | ||
| Q1 25 | $1.7B | $5.1B | ||
| Q4 24 | $1.6B | $5.2B | ||
| Q3 24 | $1.6B | $5.2B | ||
| Q2 24 | $1.6B | $5.1B |
负债/权益比DNOWWFRD
| Q1 26 | — | 0.84× | ||
| Q4 25 | 0.18× | 0.86× | ||
| Q3 25 | — | 0.94× | ||
| Q2 25 | — | 1.04× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | 0.00× | 1.26× | ||
| Q3 24 | — | 1.21× | ||
| Q2 24 | — | 1.33× |
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 | $136.0M |
| 自由现金流经营现金流 - 资本支出 | $76.0M | $85.0M |
| 自由现金流率自由现金流/营收 | 7.9% | 7.4% |
| 资本支出强度资本支出/营收 | 0.7% | 4.7% |
| 现金转化率经营现金流/净利润 | — | 1.25× |
| 过去12个月自由现金流最近4个季度 | $134.0M | $470.0M |
8季度趋势，按日历期对齐
经营现金流DNOWWFRD
| Q1 26 | — | $136.0M | ||
| Q4 25 | $83.0M | $268.0M | ||
| Q3 25 | $43.0M | $138.0M | ||
| Q2 25 | $45.0M | $128.0M | ||
| Q1 25 | $-16.0M | $142.0M | ||
| Q4 24 | $122.0M | $249.0M | ||
| Q3 24 | $74.0M | $262.0M | ||
| Q2 24 | $21.0M | $150.0M |
自由现金流DNOWWFRD
| Q1 26 | — | $85.0M | ||
| Q4 25 | $76.0M | $217.0M | ||
| Q3 25 | $39.0M | $94.0M | ||
| Q2 25 | $41.0M | $74.0M | ||
| Q1 25 | $-22.0M | $65.0M | ||
| Q4 24 | $119.0M | $149.0M | ||
| Q3 24 | $72.0M | $184.0M | ||
| Q2 24 | $18.0M | $88.0M |
自由现金流率DNOWWFRD
| Q1 26 | — | 7.4% | ||
| Q4 25 | 7.9% | 16.8% | ||
| Q3 25 | 6.2% | 7.6% | ||
| Q2 25 | 6.5% | 6.1% | ||
| Q1 25 | -3.7% | 5.4% | ||
| Q4 24 | 20.8% | 11.1% | ||
| Q3 24 | 11.9% | 13.1% | ||
| Q2 24 | 2.8% | 6.3% |
资本支出强度DNOWWFRD
| Q1 26 | — | 4.7% | ||
| Q4 25 | 0.7% | 4.0% | ||
| Q3 25 | 0.6% | 3.6% | ||
| Q2 25 | 0.6% | 4.5% | ||
| Q1 25 | 1.0% | 6.5% | ||
| Q4 24 | 0.5% | 7.5% | ||
| Q3 24 | 0.3% | 5.5% | ||
| Q2 24 | 0.5% | 4.4% |
现金转化率DNOWWFRD
| Q1 26 | — | 1.25× | ||
| Q4 25 | — | 1.94× | ||
| Q3 25 | 1.72× | 1.70× | ||
| Q2 25 | 1.80× | 0.94× | ||
| Q1 25 | -0.73× | 1.87× | ||
| Q4 24 | 6.10× | 2.22× | ||
| Q3 24 | 5.69× | 1.67× | ||
| Q2 24 | 0.88× | 1.20× |
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% |
WFRD
| International | $932.0M | 81% |
| North America | $220.0M | 19% |
