vs
哈里伯顿（HAL）与Republic Services（RSG）财务数据对比。点击上方公司名可切换其他公司
哈里伯顿的季度营收约是Republic Services的1.3倍（$5.4B vs $4.1B），Republic Services净利率更高（13.2% vs 8.6%，领先4.6%），Republic Services同比增速更快（2.2% vs -4.5%），Republic Services自由现金流更多（$404.0M vs $123.0M），过去两年Republic Services的营收复合增速更高（3.5% vs -3.8%）
哈里伯顿是源自美国的跨国企业，为全球第二大油田服务提供商，承接了全球绝大多数水力压裂作业项目。公司在美国注册，设有休斯敦与迪拜双总部，业务覆盖全球主要油气开采市场。
Republic Services是北美头部垃圾处理企业，业务涵盖非危险固体废物收集、转运、处置、资源回收及能源服务，是美国仅次于废物管理公司的第二大垃圾处理服务商，核心运营聚焦非危固废全流程管理、可回收物资源化利用及相关能源服务。
HAL vs RSG — 直观对比
营收规模更大
HAL
是对方的1.3倍
$4.1B
营收增速更快
RSG
高出6.7%
-4.5%
净利率更高
RSG
高出4.6%
8.6%
自由现金流更多
RSG
多$281.0M
$123.0M
两年增速更快
RSG
近两年复合增速
-3.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $4.1B |
| 净利润 | $464.0M | $544.7M |
| 毛利率 | — | 41.9% |
| 营业利润率 | 12.6% | 19.4% |
| 净利率 | 8.6% | 13.2% |
| 营收同比 | -4.5% | 2.2% |
| 净利润同比 | -21.2% | 6.3% |
| 每股收益（稀释后） | $0.55 | $1.76 |
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HALRSG
| Q1 26 | $5.4B | — | ||
| Q4 25 | $5.7B | $4.1B | ||
| Q3 25 | $5.6B | $4.2B | ||
| Q2 25 | $5.5B | $4.2B | ||
| Q1 25 | $5.4B | $4.0B | ||
| Q4 24 | $5.6B | $4.0B | ||
| Q3 24 | $5.7B | $4.1B | ||
| Q2 24 | $5.8B | $4.0B |
净利润HALRSG
| Q1 26 | $464.0M | — | ||
| Q4 25 | $589.0M | $544.7M | ||
| Q3 25 | $18.0M | $549.7M | ||
| Q2 25 | $472.0M | $549.9M | ||
| Q1 25 | $204.0M | $495.0M | ||
| Q4 24 | $615.0M | $512.2M | ||
| Q3 24 | $571.0M | $565.7M | ||
| Q2 24 | $709.0M | $511.5M |
毛利率HALRSG
| Q1 26 | — | — | ||
| Q4 25 | — | 41.9% | ||
| Q3 25 | — | 41.5% | ||
| Q2 25 | — | 42.2% | ||
| Q1 25 | — | 42.3% | ||
| Q4 24 | — | 42.7% | ||
| Q3 24 | — | 41.9% | ||
| Q2 24 | — | 41.1% |
营业利润率HALRSG
| Q1 26 | 12.6% | — | ||
| Q4 25 | 13.2% | 19.4% | ||
| Q3 25 | 6.4% | 19.8% | ||
| Q2 25 | 13.2% | 20.3% | ||
| Q1 25 | 8.0% | 20.1% | ||
| Q4 24 | 16.6% | 19.9% | ||
| Q3 24 | 15.3% | 20.8% | ||
| Q2 24 | 17.7% | 20.1% |
净利率HALRSG
| Q1 26 | 8.6% | — | ||
| Q4 25 | 10.4% | 13.2% | ||
| Q3 25 | 0.3% | 13.1% | ||
| Q2 25 | 8.6% | 13.0% | ||
| Q1 25 | 3.8% | 12.3% | ||
| Q4 24 | 11.0% | 12.7% | ||
| Q3 24 | 10.0% | 13.9% | ||
| Q2 24 | 12.2% | 12.6% |
每股收益（稀释后）HALRSG
| Q1 26 | $0.55 | — | ||
| Q4 25 | — | $1.76 | ||
| Q3 25 | $0.02 | $1.76 | ||
| Q2 25 | $0.55 | $1.75 | ||
| Q1 25 | $0.24 | $1.58 | ||
| Q4 24 | — | $1.63 | ||
| Q3 24 | $650000.00 | $1.80 | ||
| Q2 24 | $800000.00 | $1.62 |
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 | $2.0M | $76.0M |
| 总债务越低越好 | $7.2M | $13.0B |
| 股东权益账面价值 | $10.8M | $12.0B |
| 总资产 | $25.1M | $34.4B |
| 负债/权益比越低杠杆越低 | 0.66× | 1.08× |
8季度趋势，按日历期对齐
现金及短期投资HALRSG
| Q1 26 | $2.0M | — | ||
| Q4 25 | $2.2B | $76.0M | ||
| Q3 25 | $2.0B | $84.0M | ||
| Q2 25 | — | $122.0M | ||
| Q1 25 | — | $83.0M | ||
| Q4 24 | $2.6B | $74.0M | ||
| Q3 24 | — | $83.4M | ||
| Q2 24 | — | $490.6M |
总债务HALRSG
| Q1 26 | $7.2M | — | ||
| Q4 25 | $7.2B | $13.0B | ||
| Q3 25 | $7.2B | $12.4B | ||
| Q2 25 | $7.2B | $12.5B | ||
| Q1 25 | $7.2B | $12.9B | ||
| Q4 24 | $7.2B | $11.9B | ||
| Q3 24 | $7.6B | $12.0B | ||
| Q2 24 | $7.6B | $11.5B |
股东权益HALRSG
| Q1 26 | $10.8M | — | ||
| Q4 25 | $10.5B | $12.0B | ||
| Q3 25 | $10.2B | $11.9B | ||
| Q2 25 | $10.5B | $12.1B | ||
| Q1 25 | $10.4B | $11.7B | ||
| Q4 24 | $10.5B | $11.4B | ||
| Q3 24 | $10.3B | $11.2B | ||
| Q2 24 | $10.0B | $11.0B |
总资产HALRSG
| Q1 26 | $25.1M | — | ||
| Q4 25 | $25.0B | $34.4B | ||
| Q3 25 | $25.2B | $33.8B | ||
| Q2 25 | $25.4B | $33.4B | ||
| Q1 25 | $25.2B | $33.1B | ||
| Q4 24 | $25.6B | $32.4B | ||
| Q3 24 | $25.3B | $31.8B | ||
| Q2 24 | $25.2B | $31.9B |
负债/权益比HALRSG
| Q1 26 | 0.66× | — | ||
| Q4 25 | 0.68× | 1.08× | ||
| Q3 25 | 0.70× | 1.04× | ||
| Q2 25 | 0.68× | 1.04× | ||
| Q1 25 | 0.69× | 1.10× | ||
| Q4 24 | 0.68× | 1.04× | ||
| Q3 24 | 0.74× | 1.07× | ||
| Q2 24 | 0.76× | 1.05× |
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 | — | $981.0M |
| 自由现金流经营现金流 - 资本支出 | $123.0M | $404.0M |
| 自由现金流率自由现金流/营收 | 2.3% | 9.8% |
| 资本支出强度资本支出/营收 | 3.6% | 14.0% |
| 现金转化率经营现金流/净利润 | — | 1.80× |
| 过去12个月自由现金流最近4个季度 | $1.7B | $2.4B |
8季度趋势，按日历期对齐
经营现金流HALRSG
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $981.0M | ||
| Q3 25 | $488.0M | $1.2B | ||
| Q2 25 | $896.0M | $1.1B | ||
| Q1 25 | $377.0M | $1.0B | ||
| Q4 24 | $1.5B | $1.0B | ||
| Q3 24 | $841.0M | $1.0B | ||
| Q2 24 | $1.1B | $1.1B |
自由现金流HALRSG
| Q1 26 | $123.0M | — | ||
| Q4 25 | $828.0M | $404.0M | ||
| Q3 25 | $227.0M | $737.0M | ||
| Q2 25 | $542.0M | $702.0M | ||
| Q1 25 | $75.0M | $566.0M | ||
| Q4 24 | $1.0B | $524.4M | ||
| Q3 24 | $502.0M | $563.6M | ||
| Q2 24 | $734.0M | $696.0M |
自由现金流率HALRSG
| Q1 26 | 2.3% | — | ||
| Q4 25 | 14.6% | 9.8% | ||
| Q3 25 | 4.1% | 17.5% | ||
| Q2 25 | 9.8% | 16.6% | ||
| Q1 25 | 1.4% | 14.1% | ||
| Q4 24 | 18.4% | 13.0% | ||
| Q3 24 | 8.8% | 13.8% | ||
| Q2 24 | 12.6% | 17.2% |
资本支出强度HALRSG
| Q1 26 | 3.6% | — | ||
| Q4 25 | 6.0% | 14.0% | ||
| Q3 25 | 4.7% | 10.5% | ||
| Q2 25 | 6.4% | 9.6% | ||
| Q1 25 | 5.6% | 11.4% | ||
| Q4 24 | 7.6% | 12.3% | ||
| Q3 24 | 6.0% | 10.8% | ||
| Q2 24 | 5.9% | 10.0% |
现金转化率HALRSG
| Q1 26 | — | — | ||
| Q4 25 | 1.98× | 1.80× | ||
| Q3 25 | 27.11× | 2.15× | ||
| Q2 25 | 1.90× | 2.02× | ||
| Q1 25 | 1.85× | 2.07× | ||
| Q4 24 | 2.37× | 2.00× | ||
| Q3 24 | 1.47× | 1.77× | ||
| Q2 24 | 1.52× | 2.15× |
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
HAL
| Completion and Production | $3.0B | 56% |
| Middle East/Asia | $1.3B | 24% |
| Europe/Africa/CIS | $858.0M | 16% |
| Other | $210.0M | 4% |
RSG
| Other | $1.1B | 26% |
| Landfill Service Line | $780.0M | 19% |
| Collection Service Line Residential | $761.0M | 18% |
| Transfer Service Line | $458.0M | 11% |
| Environmental Solutions Service Line | $435.0M | 11% |
| Group3Segment | $423.0M | 10% |
| Other Service Line Sale Of Recycled Commodities | $104.0M | 3% |
| Other Service Line Other Noncore | $94.0M | 2% |
| Collection Service Line Other | $18.0M | 0% |
