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露露乐蒙（LULU）与ServiceNow（NOW）财务数据对比。点击上方公司名可切换其他公司
ServiceNow的季度营收约是露露乐蒙的1.5倍（$3.8B vs $2.6B），ServiceNow净利率更高（12.4% vs 12.0%，领先0.5%），露露乐蒙同比增速更快（7.1% vs 2.8%），ServiceNow自由现金流更多（$1.7B vs $82.4M），过去两年ServiceNow的营收复合增速更高（19.8% vs -10.5%）
露露乐蒙是源自美国和加拿大的跨国运动服饰零售商，1998年成立初期主打瑜伽裤及其他瑜伽服饰，目前已拓展业务至运动装备、休闲服饰、配件及个护产品，总部位于加拿大不列颠哥伦比亚省温哥华，共拥有767家线下门店，同时开设官方网站提供线上销售服务。
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。
LULU vs NOW — 直观对比
营收规模更大
NOW
是对方的1.5倍
$2.6B
营收增速更快
LULU
高出4.3%
2.8%
净利率更高
NOW
高出0.5%
12.0%
自由现金流更多
NOW
多$1.6B
$82.4M
两年增速更快
NOW
近两年复合增速
-10.5%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.6B | $3.8B |
| 净利润 | $306.8M | $469.0M |
| 毛利率 | 55.6% | 75.1% |
| 营业利润率 | 17.0% | 13.3% |
| 净利率 | 12.0% | 12.4% |
| 营收同比 | 7.1% | 2.8% |
| 净利润同比 | -12.8% | -53.7% |
| 每股收益（稀释后） | $2.59 | $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LULUNOW
| Q1 26 | — | $3.8B | ||
| Q4 25 | $2.6B | $3.6B | ||
| Q3 25 | $2.5B | $3.4B | ||
| Q2 25 | $2.4B | $3.2B | ||
| Q1 25 | $3.6B | $3.1B | ||
| Q4 24 | $2.4B | $3.0B | ||
| Q3 24 | $2.4B | $2.8B | ||
| Q2 24 | $2.2B | $2.6B |
净利润LULUNOW
| Q1 26 | — | $469.0M | ||
| Q4 25 | $306.8M | $401.0M | ||
| Q3 25 | $370.9M | $502.0M | ||
| Q2 25 | $314.6M | $385.0M | ||
| Q1 25 | $748.4M | $460.0M | ||
| Q4 24 | $351.9M | $384.0M | ||
| Q3 24 | $392.9M | $432.0M | ||
| Q2 24 | $321.4M | $262.0M |
毛利率LULUNOW
| Q1 26 | — | 75.1% | ||
| Q4 25 | 55.6% | 76.6% | ||
| Q3 25 | 58.5% | 77.3% | ||
| Q2 25 | 58.3% | 77.5% | ||
| Q1 25 | 60.4% | 78.9% | ||
| Q4 24 | 58.5% | 78.7% | ||
| Q3 24 | 59.6% | 79.1% | ||
| Q2 24 | 57.7% | 79.0% |
营业利润率LULUNOW
| Q1 26 | — | 13.3% | ||
| Q4 25 | 17.0% | 12.4% | ||
| Q3 25 | 20.7% | 16.8% | ||
| Q2 25 | 18.5% | 11.1% | ||
| Q1 25 | 28.9% | 14.6% | ||
| Q4 24 | 20.5% | 12.6% | ||
| Q3 24 | 22.8% | 14.9% | ||
| Q2 24 | 19.6% | 9.1% |
净利率LULUNOW
| Q1 26 | — | 12.4% | ||
| Q4 25 | 12.0% | 11.2% | ||
| Q3 25 | 14.7% | 14.7% | ||
| Q2 25 | 13.3% | 12.0% | ||
| Q1 25 | 20.7% | 14.9% | ||
| Q4 24 | 14.7% | 13.0% | ||
| Q3 24 | 16.6% | 15.4% | ||
| Q2 24 | 14.6% | 10.0% |
每股收益（稀释后）LULUNOW
| Q1 26 | — | $1.04 | ||
| Q4 25 | $2.59 | $-4.77 | ||
| Q3 25 | $3.10 | $2.40 | ||
| Q2 25 | $2.60 | $1.84 | ||
| Q1 25 | $6.08 | $2.20 | ||
| Q4 24 | $2.87 | $1.84 | ||
| Q3 24 | $3.15 | $2.07 | ||
| Q2 24 | $2.54 | $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 | $4.5B | $11.7B |
| 总资产 | $8.0B | $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LULUNOW
| 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LULUNOW
| Q1 26 | — | $11.7B | ||
| Q4 25 | $4.5B | $13.0B | ||
| Q3 25 | $4.4B | $11.3B | ||
| Q2 25 | $4.3B | $10.9B | ||
| Q1 25 | $4.3B | $10.1B | ||
| Q4 24 | $4.0B | $9.6B | ||
| Q3 24 | $4.0B | $9.3B | ||
| Q2 24 | $4.2B | $8.7B |
总资产LULUNOW
| Q1 26 | — | $24.4B | ||
| Q4 25 | $8.0B | $26.0B | ||
| Q3 25 | $7.5B | $21.8B | ||
| Q2 25 | $7.4B | $22.1B | ||
| Q1 25 | $7.6B | $21.0B | ||
| Q4 24 | $7.1B | $20.4B | ||
| Q3 24 | $6.7B | $18.4B | ||
| Q2 24 | $6.8B | $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 | $249.9M | $1.7B |
| 自由现金流经营现金流 - 资本支出 | $82.4M | $1.7B |
| 自由现金流率自由现金流/营收 | 3.2% | 44.2% |
| 资本支出强度资本支出/营收 | 6.5% | — |
| 现金转化率经营现金流/净利润 | 0.81× | 3.56× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $4.8B |
8季度趋势，按日历期对齐
经营现金流LULUNOW
| Q1 26 | — | $1.7B | ||
| Q4 25 | $249.9M | $2.2B | ||
| Q3 25 | $328.7M | $813.0M | ||
| Q2 25 | $-119.0M | $716.0M | ||
| Q1 25 | $1.4B | $1.7B | ||
| Q4 24 | $300.7M | $1.6B | ||
| Q3 24 | $443.1M | $671.0M | ||
| Q2 24 | $127.5M | $620.0M |
自由现金流LULUNOW
| Q1 26 | — | $1.7B | ||
| Q4 25 | $82.4M | $2.0B | ||
| Q3 25 | $150.8M | $578.0M | ||
| Q2 25 | $-271.2M | $526.0M | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $122.2M | $1.4B | ||
| Q3 24 | $298.1M | $469.0M | ||
| Q2 24 | $-3.2M | $358.0M |
自由现金流率LULUNOW
| Q1 26 | — | 44.2% | ||
| Q4 25 | 3.2% | 56.1% | ||
| Q3 25 | 6.0% | 17.0% | ||
| Q2 25 | -11.4% | 16.4% | ||
| Q1 25 | 32.3% | 47.7% | ||
| Q4 24 | 5.1% | 46.7% | ||
| Q3 24 | 12.6% | 16.8% | ||
| Q2 24 | -0.1% | 13.6% |
资本支出强度LULUNOW
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | 6.7% | ||
| Q3 25 | 7.0% | 6.9% | ||
| Q2 25 | 6.4% | 5.9% | ||
| Q1 25 | 6.5% | 6.6% | ||
| Q4 24 | 7.4% | 8.6% | ||
| Q3 24 | 6.1% | 7.2% | ||
| Q2 24 | 5.9% | 10.0% |
现金转化率LULUNOW
| Q1 26 | — | 3.56× | ||
| Q4 25 | 0.81× | 5.58× | ||
| Q3 25 | 0.89× | 1.62× | ||
| Q2 25 | -0.38× | 1.86× | ||
| Q1 25 | 1.87× | 3.65× | ||
| Q4 24 | 0.85× | 4.26× | ||
| Q3 24 | 1.13× | 1.55× | ||
| Q2 24 | 0.40× | 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
LULU
| Womens Apparel | $1.6B | 64% |
| Mens Apparel | $596.2M | 23% |
| Accessories And Other Categories | $324.7M | 13% |
NOW
| Subscription revenues | $3.7B | 97% |
| Other | $80.5M | 2% |
| Professional services and other revenues | $18.5M | 0% |
