vs
Ecovyst Inc.（ECVT）与National Energy Services Reunited Corp.（NESR）财务数据对比。点击上方公司名可切换其他公司
National Energy Services Reunited Corp.的季度营收约是Ecovyst Inc.的1.5倍（$295.3M vs $199.4M），Ecovyst Inc.同比增速更快（34.0% vs -12.2%），Ecovyst Inc.自由现金流更多（$22.9M vs $-34.1M）
Ecovyst Inc.是一家全球可持续特种材料供应商，主营高性能催化剂与功能性添加剂的研发、生产，产品服务覆盖工业制造、消费品、环保等核心领域，助力全球客户提升运营效率、降低碳排放。
National Energy Services Reunited Corp.是一家领先的综合油田服务供应商，为油气上游运营商提供钻井建设、完井、生产运营及干预作业等全系列解决方案，核心市场覆盖中东、北非及东亚地区，服务各国国家石油公司及国际能源客户。
ECVT vs NESR — 直观对比
营收规模更大
NESR
是对方的1.5倍
$199.4M
营收增速更快
ECVT
高出46.1%
-12.2%
自由现金流更多
ECVT
多$57.0M
$-34.1M
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $295.3M |
| 净利润 | — | $17.7M |
| 毛利率 | 23.4% | 12.0% |
| 营业利润率 | 10.9% | 6.6% |
| 净利率 | — | 6.0% |
| 营收同比 | 34.0% | -12.2% |
| 净利润同比 | — | -14.0% |
| 每股收益（稀释后） | $0.06 | $0.18 |
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ECVTNESR
| Q4 25 | $199.4M | — | ||
| Q3 25 | $204.9M | $295.3M | ||
| Q2 25 | $176.1M | $327.4M | ||
| Q1 25 | $143.1M | $303.1M | ||
| Q4 24 | $148.9M | — | ||
| Q3 24 | $153.9M | $336.2M | ||
| Q2 24 | $154.0M | $325.0M | ||
| Q1 24 | $141.6M | — |
净利润ECVTNESR
| Q4 25 | — | — | ||
| Q3 25 | $-79.3M | $17.7M | ||
| Q2 25 | $6.0M | $15.2M | ||
| Q1 25 | $-3.6M | $10.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $14.3M | $20.6M | ||
| Q2 24 | $8.3M | $18.9M | ||
| Q1 24 | $1.2M | — |
毛利率ECVTNESR
| Q4 25 | 23.4% | — | ||
| Q3 25 | 25.4% | 12.0% | ||
| Q2 25 | 22.8% | 13.4% | ||
| Q1 25 | 13.3% | 12.4% | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 29.3% | 15.9% | ||
| Q2 24 | 27.3% | 16.4% | ||
| Q1 24 | 23.5% | — |
营业利润率ECVTNESR
| Q4 25 | 10.9% | — | ||
| Q3 25 | 13.8% | 6.6% | ||
| Q2 25 | 9.0% | 8.3% | ||
| Q1 25 | -0.7% | 6.9% | ||
| Q4 24 | 15.1% | — | ||
| Q3 24 | 17.9% | 10.5% | ||
| Q2 24 | 14.1% | 10.5% | ||
| Q1 24 | 9.5% | — |
净利率ECVTNESR
| Q4 25 | — | — | ||
| Q3 25 | -38.7% | 6.0% | ||
| Q2 25 | 3.4% | 4.6% | ||
| Q1 25 | -2.5% | 3.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | 9.3% | 6.1% | ||
| Q2 24 | 5.4% | 5.8% | ||
| Q1 24 | 0.9% | — |
每股收益（稀释后）ECVTNESR
| Q4 25 | $0.06 | — | ||
| Q3 25 | $-0.69 | $0.18 | ||
| Q2 25 | $0.05 | $0.16 | ||
| Q1 25 | $-0.03 | $0.11 | ||
| Q4 24 | $-0.26 | — | ||
| Q3 24 | $0.12 | $0.22 | ||
| Q2 24 | $0.07 | $0.20 | ||
| Q1 24 | $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 | $197.2M | $69.7M |
| 总债务越低越好 | $392.6M | $274.1M |
| 股东权益账面价值 | $603.4M | $956.7M |
| 总资产 | $1.3B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.65× | 0.29× |
8季度趋势，按日历期对齐
现金及短期投资ECVTNESR
| Q4 25 | $197.2M | — | ||
| Q3 25 | $82.0M | $69.7M | ||
| Q2 25 | $69.6M | $131.8M | ||
| Q1 25 | $127.5M | $78.7M | ||
| Q4 24 | $131.4M | — | ||
| Q3 24 | $123.5M | $118.2M | ||
| Q2 24 | $83.3M | $75.0M | ||
| Q1 24 | $103.1M | — |
总债务ECVTNESR
| Q4 25 | $392.6M | — | ||
| Q3 25 | $854.8M | $274.1M | ||
| Q2 25 | $856.6M | $291.7M | ||
| Q1 25 | $859.0M | $309.2M | ||
| Q4 24 | $860.8M | — | ||
| Q3 24 | $862.7M | $358.7M | ||
| Q2 24 | $862.4M | $376.7M | ||
| Q1 24 | $866.2M | — |
股东权益ECVTNESR
| Q4 25 | $603.4M | — | ||
| Q3 25 | $607.9M | $956.7M | ||
| Q2 25 | $692.4M | $936.9M | ||
| Q1 25 | $698.7M | $920.5M | ||
| Q4 24 | $700.5M | — | ||
| Q3 24 | $729.4M | $873.5M | ||
| Q2 24 | $717.3M | $851.4M | ||
| Q1 24 | $711.4M | — |
总资产ECVTNESR
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.7B | $1.8B | ||
| Q2 25 | $1.8B | $1.8B | ||
| Q1 25 | $1.8B | $1.8B | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | $1.8B | ||
| Q2 24 | $1.8B | $1.8B | ||
| Q1 24 | $1.8B | — |
负债/权益比ECVTNESR
| Q4 25 | 0.65× | — | ||
| Q3 25 | 1.41× | 0.29× | ||
| Q2 25 | 1.24× | 0.31× | ||
| Q1 25 | 1.23× | 0.34× | ||
| Q4 24 | 1.23× | — | ||
| Q3 24 | 1.18× | 0.41× | ||
| Q2 24 | 1.20× | 0.44× | ||
| Q1 24 | 1.22× | — |
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 | $41.8M | $6.7M |
| 自由现金流经营现金流 - 资本支出 | $22.9M | $-34.1M |
| 自由现金流率自由现金流/营收 | 11.5% | -11.5% |
| 资本支出强度资本支出/营收 | 9.4% | 13.8% |
| 现金转化率经营现金流/净利润 | — | 0.38× |
| 过去12个月自由现金流最近4个季度 | $69.9M | $68.5M |
8季度趋势，按日历期对齐
经营现金流ECVTNESR
| Q4 25 | $41.8M | — | ||
| Q3 25 | $55.3M | $6.7M | ||
| Q2 25 | $33.0M | $98.5M | ||
| Q1 25 | $10.3M | $20.5M | ||
| Q4 24 | $43.5M | — | ||
| Q3 24 | $59.9M | $70.8M | ||
| Q2 24 | $10.0M | — | ||
| Q1 24 | $36.5M | — |
自由现金流ECVTNESR
| Q4 25 | $22.9M | — | ||
| Q3 25 | $53.2M | $-34.1M | ||
| Q2 25 | $7.8M | $68.7M | ||
| Q1 25 | $-14.0M | $-9.6M | ||
| Q4 24 | $30.9M | — | ||
| Q3 24 | $53.6M | $43.4M | ||
| Q2 24 | $-9.3M | — | ||
| Q1 24 | $19.1M | — |
自由现金流率ECVTNESR
| Q4 25 | 11.5% | — | ||
| Q3 25 | 26.0% | -11.5% | ||
| Q2 25 | 4.4% | 21.0% | ||
| Q1 25 | -9.8% | -3.2% | ||
| Q4 24 | 20.7% | — | ||
| Q3 24 | 34.9% | 12.9% | ||
| Q2 24 | -6.1% | — | ||
| Q1 24 | 13.5% | — |
资本支出强度ECVTNESR
| Q4 25 | 9.4% | — | ||
| Q3 25 | 1.0% | 13.8% | ||
| Q2 25 | 14.4% | 9.1% | ||
| Q1 25 | 16.9% | 9.9% | ||
| Q4 24 | 8.5% | — | ||
| Q3 24 | 4.1% | 8.1% | ||
| Q2 24 | 12.5% | — | ||
| Q1 24 | 12.3% | — |
现金转化率ECVTNESR
| Q4 25 | — | — | ||
| Q3 25 | — | 0.38× | ||
| Q2 25 | 5.52× | 6.48× | ||
| Q1 25 | — | 1.97× | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.21× | 3.43× | ||
| Q2 24 | 1.20× | — | ||
| Q1 24 | 29.90× | — |
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
ECVT
| Industrial Mining Automotive | $101.3M | 51% |
| Regeneration And Treatment Services | $90.0M | 45% |
| Other | $8.1M | 4% |
NESR
| Production Services | $174.4M | 59% |
| Drilling And Evaluation Services | $120.9M | 41% |
