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Navan, Inc.（NAVN）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
Navan, Inc.的季度营收约是Rocket Lab Corp的1.1倍（$194.9M vs $179.7M），Rocket Lab Corp净利率更高（-29.5% vs -115.6%，领先86.2%），Navan, Inc.自由现金流更多（$-1.9M vs $-114.2M）
Navan是一家总部位于美国加利福尼亚州帕洛阿尔托的企业差旅与费用管理服务商，2015年5月由阿里尔·科恩和伊兰·特维格创立。公司面向全球企业提供整合差旅预订、企业支付卡、费用报销及数据分析的一站式平台，助力企业优化差旅及费用管理流程，提升运营效率。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
NAVN vs RKLB — 直观对比
营收规模更大
NAVN
是对方的1.1倍
$179.7M
净利率更高
RKLB
高出86.2%
-115.6%
自由现金流更多
NAVN
多$112.3M
$-114.2M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $194.9M | $179.7M |
| 净利润 | $-225.4M | $-52.9M |
| 毛利率 | 70.7% | 38.0% |
| 营业利润率 | -40.6% | -28.4% |
| 净利率 | -115.6% | -29.5% |
| 营收同比 | — | 35.7% |
| 净利润同比 | -483.6% | -1.1% |
| 每股收益（稀释后） | $-4.58 | $-0.09 |
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NAVNRKLB
| Q4 25 | $194.9M | $179.7M | ||
| Q3 25 | — | $155.1M | ||
| Q2 25 | — | $144.5M | ||
| Q1 25 | — | $122.6M | ||
| Q4 24 | — | $132.4M | ||
| Q3 24 | — | $104.8M | ||
| Q2 24 | — | $106.3M | ||
| Q1 24 | — | $92.8M |
净利润NAVNRKLB
| Q4 25 | $-225.4M | $-52.9M | ||
| Q3 25 | — | $-18.3M | ||
| Q2 25 | — | $-66.4M | ||
| Q1 25 | — | $-60.6M | ||
| Q4 24 | — | $-52.3M | ||
| Q3 24 | — | $-51.9M | ||
| Q2 24 | — | $-41.6M | ||
| Q1 24 | — | $-44.3M |
毛利率NAVNRKLB
| Q4 25 | 70.7% | 38.0% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 32.1% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | 27.8% | ||
| Q3 24 | — | 26.7% | ||
| Q2 24 | — | 25.6% | ||
| Q1 24 | — | 26.1% |
营业利润率NAVNRKLB
| Q4 25 | -40.6% | -28.4% | ||
| Q3 25 | — | -38.0% | ||
| Q2 25 | — | -41.3% | ||
| Q1 25 | — | -48.3% | ||
| Q4 24 | — | -38.9% | ||
| Q3 24 | — | -49.5% | ||
| Q2 24 | — | -40.7% | ||
| Q1 24 | — | -46.4% |
净利率NAVNRKLB
| Q4 25 | -115.6% | -29.5% | ||
| Q3 25 | — | -11.8% | ||
| Q2 25 | — | -46.0% | ||
| Q1 25 | — | -49.5% | ||
| Q4 24 | — | -39.5% | ||
| Q3 24 | — | -49.6% | ||
| Q2 24 | — | -39.2% | ||
| Q1 24 | — | -47.7% |
每股收益（稀释后）NAVNRKLB
| Q4 25 | $-4.58 | $-0.09 | ||
| Q3 25 | — | $-0.03 | ||
| Q2 25 | — | $-0.13 | ||
| Q1 25 | — | $-0.12 | ||
| Q4 24 | — | $-0.11 | ||
| Q3 24 | — | $-0.10 | ||
| Q2 24 | — | $-0.08 | ||
| Q1 24 | — | $-0.09 |
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 | $809.1M | $1.0B |
| 总债务越低越好 | $206.6M | $152.4M |
| 股东权益账面价值 | $1.2B | $1.7B |
| 总资产 | $1.8B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.17× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资NAVNRKLB
| Q4 25 | $809.1M | $1.0B | ||
| Q3 25 | — | $976.7M | ||
| Q2 25 | — | $688.1M | ||
| Q1 25 | — | $428.4M | ||
| Q4 24 | — | $419.0M | ||
| Q3 24 | — | $442.4M | ||
| Q2 24 | — | $496.8M | ||
| Q1 24 | — | $492.5M |
总债务NAVNRKLB
| Q4 25 | $206.6M | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $345.9M | ||
| Q4 24 | — | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M | ||
| Q1 24 | — | $66.8M |
股东权益NAVNRKLB
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $688.5M | ||
| Q1 25 | — | $431.3M | ||
| Q4 24 | — | $382.5M | ||
| Q3 24 | — | $419.8M | ||
| Q2 24 | — | $455.2M | ||
| Q1 24 | — | $478.9M |
总资产NAVNRKLB
| Q4 25 | $1.8B | $2.3B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
负债/权益比NAVNRKLB
| Q4 25 | 0.17× | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $-1.3M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $-1.9M | $-114.2M |
| 自由现金流率自由现金流/营收 | -1.0% | -63.6% |
| 资本支出强度资本支出/营收 | 0.3% | 27.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $-321.8M |
8季度趋势，按日历期对齐
经营现金流NAVNRKLB
| Q4 25 | $-1.3M | $-64.5M | ||
| Q3 25 | — | $-23.5M | ||
| Q2 25 | — | $-23.2M | ||
| Q1 25 | — | $-54.2M | ||
| Q4 24 | — | $-2.4M | ||
| Q3 24 | — | $-30.9M | ||
| Q2 24 | — | $-13.0M | ||
| Q1 24 | — | $-2.6M |
自由现金流NAVNRKLB
| Q4 25 | $-1.9M | $-114.2M | ||
| Q3 25 | — | $-69.4M | ||
| Q2 25 | — | $-55.3M | ||
| Q1 25 | — | $-82.9M | ||
| Q4 24 | — | $-23.9M | ||
| Q3 24 | — | $-41.9M | ||
| Q2 24 | — | $-28.3M | ||
| Q1 24 | — | $-21.8M |
自由现金流率NAVNRKLB
| Q4 25 | -1.0% | -63.6% | ||
| Q3 25 | — | -44.8% | ||
| Q2 25 | — | -38.3% | ||
| Q1 25 | — | -67.6% | ||
| Q4 24 | — | -18.1% | ||
| Q3 24 | — | -40.0% | ||
| Q2 24 | — | -26.7% | ||
| Q1 24 | — | -23.5% |
资本支出强度NAVNRKLB
| Q4 25 | 0.3% | 27.6% | ||
| Q3 25 | — | 29.6% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | — | 23.4% | ||
| Q4 24 | — | 16.3% | ||
| Q3 24 | — | 10.5% | ||
| Q2 24 | — | 14.4% | ||
| Q1 24 | — | 20.7% |
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
NAVN
| Usage Based Revenue | $179.9M | 92% |
| Subscription Revenue | $15.0M | 8% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
