vs
伊萨（ESAB）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
越洋钻探的季度营收约是伊萨的1.4倍（$1.0B vs $727.8M），伊萨净利率更高（7.5% vs 2.4%，领先5.1%），越洋钻探同比增速更快（9.6% vs 8.5%），越洋钻探自由现金流更多（$321.0M vs $70.3M），过去两年越洋钻探的营收复合增速更高（16.9% vs 2.8%）
ESAB（全称Elektriska Svetsnings-Aktiebolaget）是一家美国与瑞典合资的跨国工业企业，主营焊接、切割设备及配套耗材的研发、生产与销售，为全球制造业、基建等多领域客户提供专业可靠的工业解决方案，在全球工业市场拥有较高知名度。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
ESAB vs RIG — 直观对比
营收规模更大
RIG
是对方的1.4倍
$727.8M
营收增速更快
RIG
高出1.0%
8.5%
净利率更高
ESAB
高出5.1%
2.4%
自由现金流更多
RIG
多$250.7M
$70.3M
两年增速更快
RIG
近两年复合增速
2.8%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $727.8M | $1.0B |
| 净利润 | $54.8M | $25.0M |
| 毛利率 | 37.0% | 42.0% |
| 营业利润率 | 14.6% | 23.0% |
| 净利率 | 7.5% | 2.4% |
| 营收同比 | 8.5% | 9.6% |
| 净利润同比 | 2.1% | 257.1% |
| 每股收益（稀释后） | $0.90 | $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ESABRIG
| Q4 25 | $727.8M | $1.0B | ||
| Q3 25 | $715.6M | $1.0B | ||
| Q2 25 | $678.1M | $988.0M | ||
| Q1 25 | — | $906.0M | ||
| Q4 24 | $670.8M | $952.0M | ||
| Q3 24 | $673.3M | $948.0M | ||
| Q2 24 | $707.1M | $861.0M | ||
| Q1 24 | $689.7M | $763.0M |
净利润ESABRIG
| Q4 25 | $54.8M | $25.0M | ||
| Q3 25 | $66.9M | $-1.9B | ||
| Q2 25 | $67.4M | $-938.0M | ||
| Q1 25 | — | $-79.0M | ||
| Q4 24 | $53.7M | $7.0M | ||
| Q3 24 | $68.2M | $-494.0M | ||
| Q2 24 | $82.9M | $-123.0M | ||
| Q1 24 | $60.0M | $98.0M |
毛利率ESABRIG
| Q4 25 | 37.0% | 42.0% | ||
| Q3 25 | 37.2% | 43.2% | ||
| Q2 25 | 37.6% | 39.4% | ||
| Q1 25 | — | 31.8% | ||
| Q4 24 | 38.5% | 39.2% | ||
| Q3 24 | 37.7% | 40.6% | ||
| Q2 24 | 38.2% | 38.0% | ||
| Q1 24 | 37.0% | 31.5% |
营业利润率ESABRIG
| Q4 25 | 14.6% | 23.0% | ||
| Q3 25 | 15.2% | -163.1% | ||
| Q2 25 | 16.2% | -97.6% | ||
| Q1 25 | — | 7.1% | ||
| Q4 24 | 16.6% | 13.7% | ||
| Q3 24 | 15.7% | -51.2% | ||
| Q2 24 | 16.9% | -6.9% | ||
| Q1 24 | 16.0% | -0.4% |
净利率ESABRIG
| Q4 25 | 7.5% | 2.4% | ||
| Q3 25 | 9.3% | -187.1% | ||
| Q2 25 | 9.9% | -94.9% | ||
| Q1 25 | — | -8.7% | ||
| Q4 24 | 8.0% | 0.7% | ||
| Q3 24 | 10.1% | -52.1% | ||
| Q2 24 | 11.7% | -14.3% | ||
| Q1 24 | 8.7% | 12.8% |
每股收益（稀释后）ESABRIG
| Q4 25 | $0.90 | $0.13 | ||
| Q3 25 | $1.09 | $-2.00 | ||
| Q2 25 | $1.10 | $-1.06 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | $0.87 | $-0.14 | ||
| Q3 24 | $1.11 | $-0.58 | ||
| Q2 24 | $1.35 | $-0.15 | ||
| Q1 24 | $0.98 | $0.11 |
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 | $218.2M | $620.0M |
| 总债务越低越好 | $1.3B | $5.2B |
| 股东权益账面价值 | $2.1B | $8.1B |
| 总资产 | $4.9B | $15.6B |
| 负债/权益比越低杠杆越低 | 0.63× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资ESABRIG
| Q4 25 | $218.2M | $620.0M | ||
| Q3 25 | $258.2M | $833.0M | ||
| Q2 25 | $291.3M | $377.0M | ||
| Q1 25 | — | $263.0M | ||
| Q4 24 | $249.4M | $560.0M | ||
| Q3 24 | $253.7M | $435.0M | ||
| Q2 24 | $228.5M | $475.0M | ||
| Q1 24 | $76.5M | $446.0M |
总债务ESABRIG
| Q4 25 | $1.3B | $5.2B | ||
| Q3 25 | $1.1B | $4.8B | ||
| Q2 25 | $1.1B | $5.9B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | $1.1B | $6.2B | ||
| Q3 24 | $1.1B | $6.5B | ||
| Q2 24 | $1.1B | $6.8B | ||
| Q1 24 | $992.8M | $6.8B |
股东权益ESABRIG
| Q4 25 | $2.1B | $8.1B | ||
| Q3 25 | $2.1B | $8.1B | ||
| Q2 25 | $1.9B | $9.4B | ||
| Q1 25 | — | $10.2B | ||
| Q4 24 | $1.8B | $10.3B | ||
| Q3 24 | $1.8B | $10.2B | ||
| Q2 24 | $1.7B | $10.7B | ||
| Q1 24 | $1.6B | $10.5B |
总资产ESABRIG
| Q4 25 | $4.9B | $15.6B | ||
| Q3 25 | $4.4B | $16.2B | ||
| Q2 25 | $4.2B | $17.8B | ||
| Q1 25 | — | $19.0B | ||
| Q4 24 | $4.0B | $19.4B | ||
| Q3 24 | $4.1B | $19.5B | ||
| Q2 24 | $4.0B | $20.3B | ||
| Q1 24 | $3.8B | $19.9B |
负债/权益比ESABRIG
| Q4 25 | 0.63× | 0.64× | ||
| Q3 25 | 0.51× | 0.60× | ||
| Q2 25 | 0.55× | 0.63× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | 0.60× | 0.60× | ||
| Q3 24 | 0.59× | 0.64× | ||
| Q2 24 | 0.63× | 0.63× | ||
| Q1 24 | 0.61× | 0.65× |
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 | $81.5M | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $70.3M | $321.0M |
| 自由现金流率自由现金流/营收 | 9.7% | 30.8% |
| 资本支出强度资本支出/营收 | 1.5% | 2.7% |
| 现金转化率经营现金流/净利润 | 1.49× | 13.96× |
| 过去12个月自由现金流最近4个季度 | $238.0M | $626.0M |
8季度趋势，按日历期对齐
经营现金流ESABRIG
| Q4 25 | $81.5M | $349.0M | ||
| Q3 25 | $46.6M | $246.0M | ||
| Q2 25 | $35.4M | $128.0M | ||
| Q1 25 | — | $26.0M | ||
| Q4 24 | $126.9M | $206.0M | ||
| Q3 24 | $101.0M | $194.0M | ||
| Q2 24 | $83.0M | $133.0M | ||
| Q1 24 | $44.5M | $-86.0M |
自由现金流ESABRIG
| Q4 25 | $70.3M | $321.0M | ||
| Q3 25 | $37.4M | $235.0M | ||
| Q2 25 | $28.1M | $104.0M | ||
| Q1 25 | — | $-34.0M | ||
| Q4 24 | $102.2M | $177.0M | ||
| Q3 24 | $90.4M | $136.0M | ||
| Q2 24 | $74.0M | $49.0M | ||
| Q1 24 | $37.1M | $-169.0M |
自由现金流率ESABRIG
| Q4 25 | 9.7% | 30.8% | ||
| Q3 25 | 5.2% | 22.9% | ||
| Q2 25 | 4.1% | 10.5% | ||
| Q1 25 | — | -3.8% | ||
| Q4 24 | 15.2% | 18.6% | ||
| Q3 24 | 13.4% | 14.3% | ||
| Q2 24 | 10.5% | 5.7% | ||
| Q1 24 | 5.4% | -22.1% |
资本支出强度ESABRIG
| Q4 25 | 1.5% | 2.7% | ||
| Q3 25 | 1.3% | 1.1% | ||
| Q2 25 | 1.1% | 2.4% | ||
| Q1 25 | — | 6.6% | ||
| Q4 24 | 3.7% | 3.0% | ||
| Q3 24 | 1.6% | 6.1% | ||
| Q2 24 | 1.3% | 9.8% | ||
| Q1 24 | 1.1% | 10.9% |
现金转化率ESABRIG
| Q4 25 | 1.49× | 13.96× | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.36× | 29.43× | ||
| Q3 24 | 1.48× | — | ||
| Q2 24 | 1.00× | — | ||
| Q1 24 | 0.74× | -0.88× |
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
ESAB
| Consumable Products | $477.9M | 66% |
| Equipment Products | $249.9M | 34% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
