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FORUM ENERGY TECHNOLOGIES, INC.（FET）与Hyperscale Data, Inc.（GPUS）财务数据对比。点击上方公司名可切换其他公司
FORUM ENERGY TECHNOLOGIES, INC.的季度营收约是Hyperscale Data, Inc.的7.5倍（$202.2M vs $26.9M）。FORUM ENERGY TECHNOLOGIES, INC.净利率更高（1.0% vs -112.0%，领先113.0%）。Hyperscale Data, Inc.同比增速更快（38.4% vs 0.6%）。FORUM ENERGY TECHNOLOGIES, INC.自由现金流更多（$20.9M vs $-56.2M）。过去两年FORUM ENERGY TECHNOLOGIES, INC.的营收复合增速更高（-0.0% vs -16.3%）
Forum Energy Technologies是一家美国能源领域产品企业，面向全球油气及可再生能源行业，提供相关产品与配套服务，在能源产业链中为上下游客户供应专业配套解决方案。
Hyperscale Data, Inc.主要提供GPU加速计算基础设施及云解决方案，服务于AI开发、大数据处理、高性能计算领域，客户覆盖北美及亚太地区的AI初创企业、大型科技公司与云服务提供商，为复杂数据处理需求交付可扩展的高效计算资源。
FET vs GPUS — 直观对比
营收规模更大
FET
是对方的7.5倍
$26.9M
营收增速更快
GPUS
高出37.8%
0.6%
净利率更高
FET
高出113.0%
-112.0%
自由现金流更多
FET
多$77.0M
$-56.2M
两年增速更快
FET
近两年复合增速
-16.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $202.2M | $26.9M |
| 净利润 | $2.1M | $-30.1M |
| 毛利率 | 30.2% | 14.5% |
| 营业利润率 | 6.3% | -117.8% |
| 净利率 | 1.0% | -112.0% |
| 营收同比 | 0.6% | 38.4% |
| 净利润同比 | 102.0% | -6670.3% |
| 每股收益（稀释后） | $0.25 | — |
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FETGPUS
| Q4 25 | $202.2M | $26.9M | ||
| Q3 25 | $196.2M | $24.3M | ||
| Q2 25 | $199.8M | $25.9M | ||
| Q1 25 | $193.3M | $25.0M | ||
| Q4 24 | $201.0M | $19.4M | ||
| Q3 24 | $207.8M | $31.1M | ||
| Q2 24 | $205.2M | $17.8M | ||
| Q1 24 | $202.4M | $38.4M |
净利润FETGPUS
| Q4 25 | $2.1M | $-30.1M | ||
| Q3 25 | $-20.6M | $-13.0M | ||
| Q2 25 | $7.7M | $-19.1M | ||
| Q1 25 | $1.1M | $-4.2M | ||
| Q4 24 | $-103.5M | $-445.0K | ||
| Q3 24 | $-14.8M | $-25.5M | ||
| Q2 24 | $-6.7M | $-33.9M | ||
| Q1 24 | $-10.3M | $3.7M |
毛利率FETGPUS
| Q4 25 | 30.2% | 14.5% | ||
| Q3 25 | 20.5% | 25.8% | ||
| Q2 25 | 29.7% | 23.7% | ||
| Q1 25 | 30.2% | 21.1% | ||
| Q4 24 | 31.1% | 6.5% | ||
| Q3 24 | 31.6% | 27.5% | ||
| Q2 24 | 30.7% | -21.3% | ||
| Q1 24 | 31.5% | 47.4% |
营业利润率FETGPUS
| Q4 25 | 6.3% | -117.8% | ||
| Q3 25 | -3.1% | -57.8% | ||
| Q2 25 | 7.4% | -39.2% | ||
| Q1 25 | 4.6% | -25.5% | ||
| Q4 24 | -53.1% | -46.8% | ||
| Q3 24 | 4.3% | -79.2% | ||
| Q2 24 | 3.9% | -151.4% | ||
| Q1 24 | 1.6% | 9.5% |
净利率FETGPUS
| Q4 25 | 1.0% | -112.0% | ||
| Q3 25 | -10.5% | -53.5% | ||
| Q2 25 | 3.9% | -73.7% | ||
| Q1 25 | 0.6% | -16.8% | ||
| Q4 24 | -51.5% | -2.3% | ||
| Q3 24 | -7.1% | -82.3% | ||
| Q2 24 | -3.3% | -190.7% | ||
| Q1 24 | -5.1% | 9.7% |
每股收益（稀释后）FETGPUS
| Q4 25 | $0.25 | — | ||
| Q3 25 | $-1.76 | $-0.39 | ||
| Q2 25 | $0.61 | $-2.66 | ||
| Q1 25 | $0.09 | — | ||
| Q4 24 | $-8.41 | $-8.78 | ||
| Q3 24 | $-1.20 | $-24.82 | ||
| Q2 24 | $-0.54 | $-37.81 | ||
| Q1 24 | $-0.85 | $3.32 |
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 | $34.7M | $13.1M |
| 总债务越低越好 | $135.9M | $83.1M |
| 股东权益账面价值 | $291.1M | $119.8M |
| 总资产 | $752.5M | $313.7M |
| 负债/权益比越低杠杆越低 | 0.47× | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资FETGPUS
| Q4 25 | $34.7M | $13.1M | ||
| Q3 25 | $31.7M | $24.8M | ||
| Q2 25 | $39.0M | $5.9M | ||
| Q1 25 | $31.1M | $4.2M | ||
| Q4 24 | $44.7M | $4.5M | ||
| Q3 24 | $33.3M | $7.9M | ||
| Q2 24 | $31.8M | $9.6M | ||
| Q1 24 | $48.5M | $18.9M |
总债务FETGPUS
| Q4 25 | $135.9M | $83.1M | ||
| Q3 25 | $140.0M | $80.0M | ||
| Q2 25 | $159.3M | $88.5M | ||
| Q1 25 | $171.4M | $92.8M | ||
| Q4 24 | $188.4M | $96.7M | ||
| Q3 24 | $231.5M | $104.8M | ||
| Q2 24 | $252.9M | $106.8M | ||
| Q1 24 | $287.5M | $30.0M |
股东权益FETGPUS
| Q4 25 | $291.1M | $119.8M | ||
| Q3 25 | $297.3M | $55.9M | ||
| Q2 25 | $334.2M | $5.5M | ||
| Q1 25 | $320.0M | $6.3M | ||
| Q4 24 | $319.9M | $8.6M | ||
| Q3 24 | $443.5M | $2.7M | ||
| Q2 24 | $442.0M | $26.7M | ||
| Q1 24 | $446.2M | $59.0M |
总资产FETGPUS
| Q4 25 | $752.5M | $313.7M | ||
| Q3 25 | $770.1M | $242.4M | ||
| Q2 25 | $810.1M | $213.5M | ||
| Q1 25 | $790.1M | $218.5M | ||
| Q4 24 | $816.0M | $220.8M | ||
| Q3 24 | $973.7M | $231.5M | ||
| Q2 24 | $976.8M | $270.8M | ||
| Q1 24 | $1.0B | $299.8M |
负债/权益比FETGPUS
| Q4 25 | 0.47× | 0.69× | ||
| Q3 25 | 0.47× | 1.43× | ||
| Q2 25 | 0.48× | 16.06× | ||
| Q1 25 | 0.54× | 14.71× | ||
| Q4 24 | 0.59× | 11.19× | ||
| Q3 24 | 0.52× | 38.41× | ||
| Q2 24 | 0.57× | 4.00× | ||
| Q1 24 | 0.64× | 0.51× |
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 | $22.4M | $-37.7M |
| 自由现金流经营现金流 - 资本支出 | $20.9M | $-56.2M |
| 自由现金流率自由现金流/营收 | 10.3% | -208.7% |
| 资本支出强度资本支出/营收 | 0.8% | 68.6% |
| 现金转化率经营现金流/净利润 | 10.83× | — |
| 过去12个月自由现金流最近4个季度 | $64.4M | $-87.1M |
8季度趋势，按日历期对齐
经营现金流FETGPUS
| Q4 25 | $22.4M | $-37.7M | ||
| Q3 25 | $22.9M | $-17.8M | ||
| Q2 25 | $15.8M | $-3.1M | ||
| Q1 25 | $9.3M | $-4.0M | ||
| Q4 24 | $38.5M | $-9.2M | ||
| Q3 24 | $25.6M | $3.7M | ||
| Q2 24 | $23.1M | $-3.7M | ||
| Q1 24 | $5.0M | $-10.2M |
自由现金流FETGPUS
| Q4 25 | $20.9M | $-56.2M | ||
| Q3 25 | $21.5M | $-20.6M | ||
| Q2 25 | $14.8M | $-3.5M | ||
| Q1 25 | $7.2M | $-6.8M | ||
| Q4 24 | $36.1M | $-9.3M | ||
| Q3 24 | $24.3M | $2.6M | ||
| Q2 24 | $21.6M | $-5.9M | ||
| Q1 24 | $2.1M | $-11.6M |
自由现金流率FETGPUS
| Q4 25 | 10.3% | -208.7% | ||
| Q3 25 | 10.9% | -84.5% | ||
| Q2 25 | 7.4% | -13.5% | ||
| Q1 25 | 3.7% | -27.3% | ||
| Q4 24 | 18.0% | -47.6% | ||
| Q3 24 | 11.7% | 8.4% | ||
| Q2 24 | 10.5% | -33.4% | ||
| Q1 24 | 1.0% | -30.3% |
资本支出强度FETGPUS
| Q4 25 | 0.8% | 68.6% | ||
| Q3 25 | 0.7% | 11.5% | ||
| Q2 25 | 0.5% | 1.5% | ||
| Q1 25 | 1.1% | 11.5% | ||
| Q4 24 | 1.2% | 0.3% | ||
| Q3 24 | 0.6% | 3.6% | ||
| Q2 24 | 0.7% | 12.6% | ||
| Q1 24 | 1.4% | 3.7% |
现金转化率FETGPUS
| Q4 25 | 10.83× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.05× | — | ||
| Q1 25 | 8.31× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -2.75× |
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
FET
| Drilling And Completions Segment | $127.2M | 63% |
| Artificial Lift And Downhole Segment | $75.5M | 37% |
GPUS
| Transferred Over Time | $10.4M | 39% |
| Revenue From Mined Crypto Assets At Sentinum Owned And Operated Facilities | $5.8M | 21% |
| Hotel And Real Estate Operations | $4.8M | 18% |
| Other | $4.0M | 15% |
| Turn On Green | $2.0M | 7% |
