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Helmerich & Payne, Inc.（HP）与斑马技术（ZBRA）财务数据对比。点击上方公司名可切换其他公司
斑马技术的季度营收约是Helmerich & Payne, Inc.的1.5倍（$1.5B vs $981.1M），斑马技术净利率更高（4.7% vs -9.9%，领先14.6%），Helmerich & Payne, Inc.同比增速更快（45.4% vs 10.6%），斑马技术自由现金流更多（$327.0M vs $114.9M），过去两年Helmerich & Payne, Inc.的营收复合增速更高（19.7% vs 12.0%）
Helmerich & Payne（简称H&P）是总部位于美国俄克拉荷马州塔尔萨的跨国石油钻探承包商，为油气勘探开发企业提供钻井及相关配套服务。公司1998年推出的FlexRigs系列钻井平台广泛应用于非常规页岩地层钻探作业，是全球最大的陆上钻探服务商之一。
斑马技术（Zebra Technologies）是源自美国的跨国科技企业，专注于智能数据采集系统领域的研发与落地。公司总部位于芝加哥郊外的伊利诺伊州林肯郡，目前在全球57个国家和地区开展业务，雇员总数达10700名。
HP vs ZBRA — 直观对比
营收规模更大
ZBRA
是对方的1.5倍
$981.1M
营收增速更快
HP
高出34.9%
10.6%
净利率更高
ZBRA
高出14.6%
-9.9%
自由现金流更多
ZBRA
多$212.1M
$114.9M
两年增速更快
HP
近两年复合增速
12.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $981.1M | $1.5B |
| 净利润 | $-96.7M | $70.0M |
| 毛利率 | — | 47.3% |
| 营业利润率 | -6.1% | 9.4% |
| 净利率 | -9.9% | 4.7% |
| 营收同比 | 45.4% | 10.6% |
| 净利润同比 | -276.6% | -57.1% |
| 每股收益（稀释后） | $-0.98 | $1.40 |
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HPZBRA
| Q4 25 | $981.1M | $1.5B | ||
| Q3 25 | $953.8M | $1.3B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $1.0B | $1.3B | ||
| Q4 24 | $674.6M | $1.3B | ||
| Q3 24 | $691.3M | $1.3B | ||
| Q2 24 | $695.1M | $1.2B | ||
| Q1 24 | $685.1M | $1.2B |
净利润HPZBRA
| Q4 25 | $-96.7M | $70.0M | ||
| Q3 25 | $-57.4M | $101.0M | ||
| Q2 25 | $-162.8M | $112.0M | ||
| Q1 25 | $1.7M | $136.0M | ||
| Q4 24 | $54.8M | $163.0M | ||
| Q3 24 | $75.5M | $137.0M | ||
| Q2 24 | $88.7M | $113.0M | ||
| Q1 24 | $84.8M | $115.0M |
毛利率HPZBRA
| Q4 25 | — | 47.3% | ||
| Q3 25 | — | 48.0% | ||
| Q2 25 | — | 47.6% | ||
| Q1 25 | — | 49.3% | ||
| Q4 24 | — | 48.6% | ||
| Q3 24 | — | 48.8% | ||
| Q2 24 | — | 48.4% | ||
| Q1 24 | — | 47.9% |
营业利润率HPZBRA
| Q4 25 | -6.1% | 9.4% | ||
| Q3 25 | -0.1% | 13.9% | ||
| Q2 25 | -12.4% | 14.2% | ||
| Q1 25 | 4.2% | 14.9% | ||
| Q4 24 | 13.3% | 16.9% | ||
| Q3 24 | 15.4% | 15.2% | ||
| Q2 24 | 16.0% | 13.7% | ||
| Q1 24 | 16.1% | 13.5% |
净利率HPZBRA
| Q4 25 | -9.9% | 4.7% | ||
| Q3 25 | -6.0% | 7.7% | ||
| Q2 25 | -15.7% | 8.7% | ||
| Q1 25 | 0.2% | 10.4% | ||
| Q4 24 | 8.1% | 12.2% | ||
| Q3 24 | 10.9% | 10.9% | ||
| Q2 24 | 12.8% | 9.3% | ||
| Q1 24 | 12.4% | 9.8% |
每股收益（稀释后）HPZBRA
| Q4 25 | $-0.98 | $1.40 | ||
| Q3 25 | $-0.57 | $1.97 | ||
| Q2 25 | $-1.64 | $2.19 | ||
| Q1 25 | $0.01 | $2.62 | ||
| Q4 24 | $0.54 | $3.14 | ||
| Q3 24 | $0.77 | $2.64 | ||
| Q2 24 | $0.88 | $2.17 | ||
| Q1 24 | $0.84 | $2.23 |
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 | $269.0M | $125.0M |
| 总债务越低越好 | $2.0B | — |
| 股东权益账面价值 | $2.7B | $3.6B |
| 总资产 | $6.5B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.75× | — |
8季度趋势，按日历期对齐
现金及短期投资HPZBRA
| Q4 25 | $269.0M | $125.0M | ||
| Q3 25 | $218.3M | $1.1B | ||
| Q2 25 | $187.4M | $872.0M | ||
| Q1 25 | $195.6M | $879.0M | ||
| Q4 24 | $526.5M | $901.0M | ||
| Q3 24 | $510.3M | $676.0M | ||
| Q2 24 | $289.7M | $411.0M | ||
| Q1 24 | $277.0M | $127.0M |
总债务HPZBRA
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.1B | $2.2B | ||
| Q2 25 | $2.2B | $2.2B | ||
| Q1 25 | $2.2B | $2.2B | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.8B | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.1B |
股东权益HPZBRA
| Q4 25 | $2.7B | $3.6B | ||
| Q3 25 | $2.8B | $3.7B | ||
| Q2 25 | $2.9B | $3.6B | ||
| Q1 25 | $3.1B | $3.6B | ||
| Q4 24 | $2.9B | $3.6B | ||
| Q3 24 | $2.9B | $3.4B | ||
| Q2 24 | $2.9B | $3.3B | ||
| Q1 24 | $2.8B | $3.2B |
总资产HPZBRA
| Q4 25 | $6.5B | $8.5B | ||
| Q3 25 | $6.7B | $8.1B | ||
| Q2 25 | $6.9B | $7.9B | ||
| Q1 25 | $7.2B | $7.9B | ||
| Q4 24 | $5.8B | $8.0B | ||
| Q3 24 | $5.8B | $7.7B | ||
| Q2 24 | $4.5B | $7.5B | ||
| Q1 24 | $4.4B | $7.3B |
负债/权益比HPZBRA
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.73× | 0.58× | ||
| Q2 25 | 0.76× | 0.60× | ||
| Q1 25 | 0.73× | 0.60× | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.61× | 0.64× | ||
| Q2 24 | — | 0.66× | ||
| Q1 24 | — | 0.66× |
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 | $182.4M | $357.0M |
| 自由现金流经营现金流 - 资本支出 | $114.9M | $327.0M |
| 自由现金流率自由现金流/营收 | 11.7% | 22.2% |
| 资本支出强度资本支出/营收 | 6.9% | 2.0% |
| 现金转化率经营现金流/净利润 | — | 5.10× |
| 过去12个月自由现金流最近4个季度 | $179.6M | $831.0M |
8季度趋势，按日历期对齐
经营现金流HPZBRA
| Q4 25 | $182.4M | $357.0M | ||
| Q3 25 | $206.9M | $235.0M | ||
| Q2 25 | $121.6M | $147.0M | ||
| Q1 25 | $56.0M | $178.0M | ||
| Q4 24 | $158.4M | $306.0M | ||
| Q3 24 | $168.8M | $294.0M | ||
| Q2 24 | $197.4M | $288.0M | ||
| Q1 24 | $143.7M | $125.0M |
自由现金流HPZBRA
| Q4 25 | $114.9M | $327.0M | ||
| Q3 25 | $142.8M | $216.0M | ||
| Q2 25 | $24.6M | $130.0M | ||
| Q1 25 | $-102.7M | $158.0M | ||
| Q4 24 | $51.9M | $288.0M | ||
| Q3 24 | $62.8M | $277.0M | ||
| Q2 24 | $63.0M | $278.0M | ||
| Q1 24 | $25.4M | $111.0M |
自由现金流率HPZBRA
| Q4 25 | 11.7% | 22.2% | ||
| Q3 25 | 15.0% | 16.4% | ||
| Q2 25 | 2.4% | 10.1% | ||
| Q1 25 | -10.1% | 12.1% | ||
| Q4 24 | 7.7% | 21.6% | ||
| Q3 24 | 9.1% | 22.1% | ||
| Q2 24 | 9.1% | 22.8% | ||
| Q1 24 | 3.7% | 9.4% |
资本支出强度HPZBRA
| Q4 25 | 6.9% | 2.0% | ||
| Q3 25 | 6.7% | 1.4% | ||
| Q2 25 | 9.3% | 1.3% | ||
| Q1 25 | 15.7% | 1.5% | ||
| Q4 24 | 15.8% | 1.3% | ||
| Q3 24 | 15.3% | 1.4% | ||
| Q2 24 | 19.3% | 0.8% | ||
| Q1 24 | 17.3% | 1.2% |
现金转化率HPZBRA
| Q4 25 | — | 5.10× | ||
| Q3 25 | — | 2.33× | ||
| Q2 25 | — | 1.31× | ||
| Q1 25 | 33.89× | 1.31× | ||
| Q4 24 | 2.89× | 1.88× | ||
| Q3 24 | 2.24× | 2.15× | ||
| Q2 24 | 2.23× | 2.55× | ||
| Q1 24 | 1.69× | 1.09× |
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
HP
| North America Solutions | $563.6M | 57% |
| International Solutions Segment | $229.3M | 23% |
| Offshore Solutions | $188.3M | 19% |
ZBRA
| Tangible Products | $1.2B | 83% |
| Service And Software | $255.0M | 17% |
