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GLOBAL PARTNERS LP（GLP）与ServiceNow（NOW）财务数据对比。点击上方公司名可切换其他公司
ServiceNow的季度营收约是GLOBAL PARTNERS LP的1.7倍（$3.8B vs $2.2B），ServiceNow净利率更高（12.4% vs 1.1%，领先11.3%），GLOBAL PARTNERS LP同比增速更快（7.0% vs 2.8%），ServiceNow自由现金流更多（$1.7B vs $62.2M），过去两年ServiceNow的营收复合增速更高（19.8% vs 0.2%）
Global Partners LP是一家美国能源供应企业，2018年位列《财富》世界500强第361位，采用业主有限合伙制架构，核心业务为石油产品进口，深耕北美市场开展营销活动，批发的产品涵盖原油、柴油、汽油、取暖油及煤油等品类。
ServiceNow是2003年由弗雷德·卢迪在美国加利福尼亚州圣克拉拉创立的软件企业，主打云计算平台产品，可支持企业搭建及管理自动化业务工作流。公司于纽交所上市，现为标普100及标普500指数成分股。
GLP vs NOW — 直观对比
营收规模更大
NOW
是对方的1.7倍
$2.2B
营收增速更快
GLP
高出4.2%
2.8%
净利率更高
NOW
高出11.3%
1.1%
自由现金流更多
NOW
多$1.6B
$62.2M
两年增速更快
NOW
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $3.8B |
| 净利润 | $25.1M | $469.0M |
| 毛利率 | 11.9% | 75.1% |
| 营业利润率 | 2.6% | 13.3% |
| 净利率 | 1.1% | 12.4% |
| 营收同比 | 7.0% | 2.8% |
| 净利润同比 | 5.0% | -53.7% |
| 每股收益（稀释后） | — | $1.04 |
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GLPNOW
| Q1 26 | — | $3.8B | ||
| Q4 25 | $2.2B | $3.6B | ||
| Q3 25 | $2.2B | $3.4B | ||
| Q2 25 | $2.1B | $3.2B | ||
| Q1 25 | $2.2B | $3.1B | ||
| Q4 24 | $2.1B | $3.0B | ||
| Q3 24 | $2.1B | $2.8B | ||
| Q2 24 | $2.3B | $2.6B |
净利润GLPNOW
| Q1 26 | — | $469.0M | ||
| Q4 25 | $25.1M | $401.0M | ||
| Q3 25 | $29.0M | $502.0M | ||
| Q2 25 | $25.2M | $385.0M | ||
| Q1 25 | $18.7M | $460.0M | ||
| Q4 24 | $23.9M | $384.0M | ||
| Q3 24 | $45.9M | $432.0M | ||
| Q2 24 | $46.1M | $262.0M |
毛利率GLPNOW
| Q1 26 | — | 75.1% | ||
| Q4 25 | 11.9% | 76.6% | ||
| Q3 25 | 12.1% | 77.3% | ||
| Q2 25 | 13.1% | 77.5% | ||
| Q1 25 | 11.7% | 78.9% | ||
| Q4 24 | 13.0% | 78.7% | ||
| Q3 24 | 13.4% | 79.1% | ||
| Q2 24 | 12.6% | 79.0% |
营业利润率GLPNOW
| Q1 26 | — | 13.3% | ||
| Q4 25 | 2.6% | 12.4% | ||
| Q3 25 | 2.7% | 16.8% | ||
| Q2 25 | 2.9% | 11.1% | ||
| Q1 25 | 2.6% | 14.6% | ||
| Q4 24 | 2.8% | 12.6% | ||
| Q3 24 | 3.9% | 14.9% | ||
| Q2 24 | 3.7% | 9.1% |
净利率GLPNOW
| Q1 26 | — | 12.4% | ||
| Q4 25 | 1.1% | 11.2% | ||
| Q3 25 | 1.3% | 14.7% | ||
| Q2 25 | 1.2% | 12.0% | ||
| Q1 25 | 0.9% | 14.9% | ||
| Q4 24 | 1.2% | 13.0% | ||
| Q3 24 | 2.1% | 15.4% | ||
| Q2 24 | 2.0% | 10.0% |
每股收益（稀释后）GLPNOW
| Q1 26 | — | $1.04 | ||
| Q4 25 | — | $-4.77 | ||
| Q3 25 | — | $2.40 | ||
| Q2 25 | — | $1.84 | ||
| Q1 25 | — | $2.20 | ||
| Q4 24 | — | $1.84 | ||
| Q3 24 | — | $2.07 | ||
| Q2 24 | — | $1.26 |
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 | — | $2.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $11.7B |
| 总资产 | $3.9B | $24.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资GLPNOW
| Q1 26 | — | $2.7B | ||
| Q4 25 | — | $3.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $2.2B |
股东权益GLPNOW
| Q1 26 | — | $11.7B | ||
| Q4 25 | — | $13.0B | ||
| Q3 25 | — | $11.3B | ||
| Q2 25 | — | $10.9B | ||
| Q1 25 | — | $10.1B | ||
| Q4 24 | — | $9.6B | ||
| Q3 24 | — | $9.3B | ||
| Q2 24 | — | $8.7B |
总资产GLPNOW
| Q1 26 | — | $24.4B | ||
| Q4 25 | $3.9B | $26.0B | ||
| Q3 25 | $3.7B | $21.8B | ||
| Q2 25 | $3.8B | $22.1B | ||
| Q1 25 | $3.8B | $21.0B | ||
| Q4 24 | $3.8B | $20.4B | ||
| Q3 24 | $3.7B | $18.4B | ||
| Q2 24 | $3.8B | $18.2B |
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 | $101.0M | $1.7B |
| 自由现金流经营现金流 - 资本支出 | $62.2M | $1.7B |
| 自由现金流率自由现金流/营收 | 2.8% | 44.2% |
| 资本支出强度资本支出/营收 | 1.8% | — |
| 现金转化率经营现金流/净利润 | 4.03× | 3.56× |
| 过去12个月自由现金流最近4个季度 | $193.3M | $4.8B |
8季度趋势，按日历期对齐
经营现金流GLPNOW
| Q1 26 | — | $1.7B | ||
| Q4 25 | $101.0M | $2.2B | ||
| Q3 25 | $19.0M | $813.0M | ||
| Q2 25 | $216.3M | $716.0M | ||
| Q1 25 | $-51.6M | $1.7B | ||
| Q4 24 | $67.2M | $1.6B | ||
| Q3 24 | $122.7M | $671.0M | ||
| Q2 24 | $24.3M | $620.0M |
自由现金流GLPNOW
| Q1 26 | — | $1.7B | ||
| Q4 25 | $62.2M | $2.0B | ||
| Q3 25 | $-678.0K | $578.0M | ||
| Q2 25 | $201.3M | $526.0M | ||
| Q1 25 | $-69.5M | $1.5B | ||
| Q4 24 | $20.4M | $1.4B | ||
| Q3 24 | $98.4M | $469.0M | ||
| Q2 24 | $8.7M | $358.0M |
自由现金流率GLPNOW
| Q1 26 | — | 44.2% | ||
| Q4 25 | 2.8% | 56.1% | ||
| Q3 25 | -0.0% | 17.0% | ||
| Q2 25 | 9.7% | 16.4% | ||
| Q1 25 | -3.2% | 47.7% | ||
| Q4 24 | 1.0% | 46.7% | ||
| Q3 24 | 4.6% | 16.8% | ||
| Q2 24 | 0.4% | 13.6% |
资本支出强度GLPNOW
| Q1 26 | — | — | ||
| Q4 25 | 1.8% | 6.7% | ||
| Q3 25 | 0.9% | 6.9% | ||
| Q2 25 | 0.7% | 5.9% | ||
| Q1 25 | 0.8% | 6.6% | ||
| Q4 24 | 2.3% | 8.6% | ||
| Q3 24 | 1.1% | 7.2% | ||
| Q2 24 | 0.7% | 10.0% |
现金转化率GLPNOW
| Q1 26 | — | 3.56× | ||
| Q4 25 | 4.03× | 5.58× | ||
| Q3 25 | 0.66× | 1.62× | ||
| Q2 25 | 8.58× | 1.86× | ||
| Q1 25 | -2.76× | 3.65× | ||
| Q4 24 | 2.82× | 4.26× | ||
| Q3 24 | 2.67× | 1.55× | ||
| Q2 24 | 0.53× | 2.37× |
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
GLP
| Gasoline | $1.0B | 46% |
| Refined Petroleum Products Renewable Fuels Crude Oil And Propane | $884.7M | 40% |
| Commercial Segment | $187.6M | 8% |
| Station Operations | $110.5M | 5% |
NOW
| Subscription revenues | $3.7B | 97% |
| Other | $99.0M | 3% |
