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NCS Multistage Holdings, Inc.（NCSM）与EXPRO GROUP HOLDINGS N.V.（XPRO）财务数据对比。点击上方公司名可切换其他公司
EXPRO GROUP HOLDINGS N.V.的季度营收约是NCS Multistage Holdings, Inc.的7.5倍（$382.1M vs $50.6M）。NCS Multistage Holdings, Inc.净利率更高（29.5% vs 1.5%，领先28.0%）。NCS Multistage Holdings, Inc.同比增速更快（12.5% vs -12.5%）。EXPRO GROUP HOLDINGS N.V.自由现金流更多（$23.2M vs $12.9M）。过去两年NCS Multistage Holdings, Inc.的营收复合增速更高（7.4% vs -0.2%）
NCS Multistage Holdings是一家全球能源技术与油田服务提供商，主营油气勘探生产用的完井系统与多级压裂工具，服务覆盖北美、拉美、中东及亚太市场，助力上游能源客户提升作业效率与资源采收率。
Expro是一家能源服务提供商，总部位于美国得克萨斯州休斯敦，主要为油气等能源领域的客户提供相关技术服务与解决方案，业务覆盖全球多个主要能源产区，助力行业实现高效、安全的开发运营。
NCSM vs XPRO — 直观对比
营收规模更大
XPRO
是对方的7.5倍
$50.6M
营收增速更快
NCSM
高出25.0%
-12.5%
净利率更高
NCSM
高出28.0%
1.5%
自由现金流更多
XPRO
多$10.3M
$12.9M
两年增速更快
NCSM
近两年复合增速
-0.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $50.6M | $382.1M |
| 净利润 | $15.0M | $5.8M |
| 毛利率 | — | — |
| 营业利润率 | 10.3% | 3.1% |
| 净利率 | 29.5% | 1.5% |
| 营收同比 | 12.5% | -12.5% |
| 净利润同比 | 331.0% | -74.9% |
| 每股收益（稀释后） | $5.43 | $0.05 |
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NCSMXPRO
| Q4 25 | $50.6M | $382.1M | ||
| Q3 25 | $46.5M | $411.4M | ||
| Q2 25 | $36.5M | $422.7M | ||
| Q1 25 | $50.0M | $390.9M | ||
| Q4 24 | $45.0M | $436.8M | ||
| Q3 24 | $44.0M | $422.8M | ||
| Q2 24 | $29.7M | $469.6M | ||
| Q1 24 | $43.9M | $383.5M |
净利润NCSMXPRO
| Q4 25 | $15.0M | $5.8M | ||
| Q3 25 | $3.8M | $14.0M | ||
| Q2 25 | $924.0K | $18.0M | ||
| Q1 25 | $4.1M | $13.9M | ||
| Q4 24 | $3.5M | $23.0M | ||
| Q3 24 | $4.1M | $16.3M | ||
| Q2 24 | $-3.1M | $15.3M | ||
| Q1 24 | $2.1M | $-2.7M |
营业利润率NCSMXPRO
| Q4 25 | 10.3% | 3.1% | ||
| Q3 25 | 6.6% | 6.4% | ||
| Q2 25 | -5.6% | 7.7% | ||
| Q1 25 | 8.6% | 2.6% | ||
| Q4 24 | 6.5% | 7.3% | ||
| Q3 24 | 6.9% | 6.2% | ||
| Q2 24 | -14.0% | 5.9% | ||
| Q1 24 | 5.7% | 2.2% |
净利率NCSMXPRO
| Q4 25 | 29.5% | 1.5% | ||
| Q3 25 | 8.2% | 3.4% | ||
| Q2 25 | 2.5% | 4.3% | ||
| Q1 25 | 8.1% | 3.6% | ||
| Q4 24 | 7.7% | 5.3% | ||
| Q3 24 | 9.4% | 3.8% | ||
| Q2 24 | -10.4% | 3.3% | ||
| Q1 24 | 4.7% | -0.7% |
每股收益（稀释后）NCSMXPRO
| Q4 25 | $5.43 | $0.05 | ||
| Q3 25 | $1.37 | $0.12 | ||
| Q2 25 | $0.34 | $0.16 | ||
| Q1 25 | $1.51 | $0.12 | ||
| Q4 24 | $1.34 | $0.20 | ||
| Q3 24 | $1.60 | $0.14 | ||
| Q2 24 | $-1.21 | $0.13 | ||
| Q1 24 | $0.82 | $-0.02 |
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 | $36.7M | $196.1M |
| 总债务越低越好 | $5.3M | $79.1M |
| 股东权益账面价值 | $126.2M | $1.5B |
| 总资产 | $181.2M | $2.3B |
| 负债/权益比越低杠杆越低 | 0.04× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资NCSMXPRO
| Q4 25 | $36.7M | $196.1M | ||
| Q3 25 | $25.3M | $197.9M | ||
| Q2 25 | $25.4M | $206.8M | ||
| Q1 25 | $23.0M | $179.3M | ||
| Q4 24 | $25.9M | $183.0M | ||
| Q3 24 | $15.3M | $165.7M | ||
| Q2 24 | $18.6M | $133.5M | ||
| Q1 24 | $14.0M | $163.2M |
总债务NCSMXPRO
| Q4 25 | $5.3M | $79.1M | ||
| Q3 25 | $5.1M | $99.1M | ||
| Q2 25 | $5.5M | $121.1M | ||
| Q1 25 | $5.4M | $121.1M | ||
| Q4 24 | $6.0M | $121.1M | ||
| Q3 24 | $6.5M | $121.1M | ||
| Q2 24 | $6.8M | $121.1M | ||
| Q1 24 | $6.4M | $40.0M |
股东权益NCSMXPRO
| Q4 25 | $126.2M | $1.5B | ||
| Q3 25 | $110.1M | $1.5B | ||
| Q2 25 | $106.4M | $1.5B | ||
| Q1 25 | $103.2M | $1.5B | ||
| Q4 24 | $98.8M | $1.5B | ||
| Q3 24 | $96.0M | $1.5B | ||
| Q2 24 | $91.0M | $1.5B | ||
| Q1 24 | $93.7M | $1.3B |
总资产NCSMXPRO
| Q4 25 | $181.2M | $2.3B | ||
| Q3 25 | $162.0M | $2.3B | ||
| Q2 25 | $158.0M | $2.3B | ||
| Q1 25 | $155.1M | $2.3B | ||
| Q4 24 | $152.8M | $2.3B | ||
| Q3 24 | $145.8M | $2.3B | ||
| Q2 24 | $139.4M | $2.3B | ||
| Q1 24 | $140.9M | $2.0B |
负债/权益比NCSMXPRO
| Q4 25 | 0.04× | 0.05× | ||
| Q3 25 | 0.05× | 0.07× | ||
| Q2 25 | 0.05× | 0.08× | ||
| Q1 25 | 0.05× | 0.08× | ||
| Q4 24 | 0.06× | 0.08× | ||
| Q3 24 | 0.07× | 0.08× | ||
| Q2 24 | 0.08× | 0.08× | ||
| Q1 24 | 0.07× | 0.03× |
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 | $13.1M | $57.1M |
| 自由现金流经营现金流 - 资本支出 | $12.9M | $23.2M |
| 自由现金流率自由现金流/营收 | 25.5% | 6.1% |
| 资本支出强度资本支出/营收 | 0.4% | 8.9% |
| 现金转化率经营现金流/净利润 | 0.88× | 9.89× |
| 过去12个月自由现金流最近4个季度 | $21.0M | $97.8M |
8季度趋势，按日历期对齐
经营现金流NCSMXPRO
| Q4 25 | $13.1M | $57.1M | ||
| Q3 25 | $7.2M | $63.2M | ||
| Q2 25 | $3.5M | $48.4M | ||
| Q1 25 | $-1.6M | $41.5M | ||
| Q4 24 | $10.6M | $97.4M | ||
| Q3 24 | $-2.0M | $55.3M | ||
| Q2 24 | $6.0M | $-13.2M | ||
| Q1 24 | $-1.9M | $29.9M |
自由现金流NCSMXPRO
| Q4 25 | $12.9M | $23.2M | ||
| Q3 25 | $6.9M | $39.0M | ||
| Q2 25 | $3.2M | $27.2M | ||
| Q1 25 | $-2.1M | $8.4M | ||
| Q4 24 | $10.4M | $53.0M | ||
| Q3 24 | $-2.5M | $23.3M | ||
| Q2 24 | $5.6M | $-49.5M | ||
| Q1 24 | $-2.2M | $-801.0K |
自由现金流率NCSMXPRO
| Q4 25 | 25.5% | 6.1% | ||
| Q3 25 | 14.9% | 9.5% | ||
| Q2 25 | 8.9% | 6.4% | ||
| Q1 25 | -4.2% | 2.1% | ||
| Q4 24 | 23.1% | 12.1% | ||
| Q3 24 | -5.6% | 5.5% | ||
| Q2 24 | 19.0% | -10.5% | ||
| Q1 24 | -5.0% | -0.2% |
资本支出强度NCSMXPRO
| Q4 25 | 0.4% | 8.9% | ||
| Q3 25 | 0.5% | 5.9% | ||
| Q2 25 | 0.8% | 5.0% | ||
| Q1 25 | 0.9% | 8.5% | ||
| Q4 24 | 0.5% | 10.2% | ||
| Q3 24 | 1.0% | 7.6% | ||
| Q2 24 | 1.1% | 7.7% | ||
| Q1 24 | 0.7% | 8.0% |
现金转化率NCSMXPRO
| Q4 25 | 0.88× | 9.89× | ||
| Q3 25 | 1.88× | 4.52× | ||
| Q2 25 | 3.81× | 2.69× | ||
| Q1 25 | -0.41× | 2.98× | ||
| Q4 24 | 3.07× | 4.23× | ||
| Q3 24 | -0.49× | 3.40× | ||
| Q2 24 | — | -0.86× | ||
| Q1 24 | -0.91× | — |
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
NCSM
| Products | $33.8M | 67% |
| Services | $16.8M | 33% |
XPRO
| NLA | $130.3M | 34% |
| ESSA | $116.3M | 30% |
| MENA | $93.0M | 24% |
| Other | $42.5M | 11% |
