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巴诺书店（NE）与V2X, Inc.（VVX）财务数据对比。点击上方公司名可切换其他公司
V2X, Inc.的季度营收约是巴诺书店的1.6倍（$1.2B vs $764.4M），巴诺书店净利率更高（11.3% vs 1.9%，领先9.5%），V2X, Inc.同比增速更快（5.3% vs -17.6%），V2X, Inc.自由现金流更多（$207.2M vs $35.4M），过去两年V2X, Inc.的营收复合增速更高（9.8% vs 9.5%）
巴诺书店是美国知名连锁图书零售企业，拥有全美数量最多的实体零售网点，目前在美国境内共运营超过700家线下门店，为消费者提供各类书籍、文创产品及相关文化消费服务。
V2X公司是总部位于美国的技术工程服务供应商，主要服务美国国防部等联邦政府客户，提供任务支持、关键基础设施运维、国家安全相关解决方案，业务覆盖国防、公共安全、运营韧性等核心领域。
NE vs VVX — 直观对比
营收规模更大
VVX
是对方的1.6倍
$764.4M
营收增速更快
VVX
高出22.8%
-17.6%
净利率更高
NE
高出9.5%
1.9%
自由现金流更多
VVX
多$171.8M
$35.4M
两年增速更快
VVX
近两年复合增速
9.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $764.4M | $1.2B |
| 净利润 | $86.6M | $22.8M |
| 毛利率 | — | 8.6% |
| 营业利润率 | 5.6% | 4.2% |
| 净利率 | 11.3% | 1.9% |
| 营收同比 | -17.6% | 5.3% |
| 净利润同比 | -10.4% | -9.0% |
| 每股收益（稀释后） | $0.54 | $0.73 |
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NEVVX
| Q4 25 | $764.4M | $1.2B | ||
| Q3 25 | $798.0M | $1.2B | ||
| Q2 25 | $848.7M | $1.1B | ||
| Q1 25 | $874.5M | $1.0B | ||
| Q4 24 | $927.3M | $1.2B | ||
| Q3 24 | $800.5M | $1.1B | ||
| Q2 24 | $692.8M | $1.1B | ||
| Q1 24 | $637.1M | $1.0B |
净利润NEVVX
| Q4 25 | $86.6M | $22.8M | ||
| Q3 25 | $-21.1M | $24.6M | ||
| Q2 25 | $42.9M | $22.4M | ||
| Q1 25 | $108.3M | $8.1M | ||
| Q4 24 | $96.6M | $25.0M | ||
| Q3 24 | $61.2M | $15.1M | ||
| Q2 24 | $195.0M | $-6.5M | ||
| Q1 24 | $95.5M | $1.1M |
毛利率NEVVX
| Q4 25 | — | 8.6% | ||
| Q3 25 | — | 8.1% | ||
| Q2 25 | — | 8.9% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | — | 9.3% | ||
| Q3 24 | — | 8.5% | ||
| Q2 24 | — | 6.9% | ||
| Q1 24 | — | 7.0% |
营业利润率NEVVX
| Q4 25 | 5.6% | 4.2% | ||
| Q3 25 | 6.3% | 4.8% | ||
| Q2 25 | 15.9% | 4.9% | ||
| Q1 25 | 21.4% | 3.4% | ||
| Q4 24 | 18.4% | 4.5% | ||
| Q3 24 | 14.4% | 4.6% | ||
| Q2 24 | 30.3% | 2.6% | ||
| Q1 24 | 16.9% | 3.0% |
净利率NEVVX
| Q4 25 | 11.3% | 1.9% | ||
| Q3 25 | -2.6% | 2.1% | ||
| Q2 25 | 5.1% | 2.1% | ||
| Q1 25 | 12.4% | 0.8% | ||
| Q4 24 | 10.4% | 2.2% | ||
| Q3 24 | 7.6% | 1.4% | ||
| Q2 24 | 28.1% | -0.6% | ||
| Q1 24 | 15.0% | 0.1% |
每股收益（稀释后）NEVVX
| Q4 25 | $0.54 | $0.73 | ||
| Q3 25 | $-0.13 | $0.77 | ||
| Q2 25 | $0.27 | $0.70 | ||
| Q1 25 | $0.67 | $0.25 | ||
| Q4 24 | $0.56 | $0.78 | ||
| Q3 24 | $0.40 | $0.47 | ||
| Q2 24 | $1.34 | $-0.21 | ||
| Q1 24 | $0.66 | $0.04 |
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 | $471.4M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.5B | $1.1B |
| 总资产 | $7.5B | $3.3B |
| 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NEVVX
| Q4 25 | $471.4M | — | ||
| Q3 25 | $477.9M | — | ||
| Q2 25 | $338.2M | — | ||
| Q1 25 | $303.8M | — | ||
| Q4 24 | $247.3M | — | ||
| Q3 24 | $391.9M | — | ||
| Q2 24 | $162.9M | — | ||
| Q1 24 | $212.5M | — |
股东权益NEVVX
| Q4 25 | $4.5B | $1.1B | ||
| Q3 25 | $4.5B | $1.1B | ||
| Q2 25 | $4.6B | $1.1B | ||
| Q1 25 | $4.7B | $1.0B | ||
| Q4 24 | $4.7B | $1.0B | ||
| Q3 24 | $4.7B | $1.0B | ||
| Q2 24 | $4.0B | $992.0M | ||
| Q1 24 | $3.9B | $993.7M |
总资产NEVVX
| Q4 25 | $7.5B | $3.3B | ||
| Q3 25 | $7.6B | $3.2B | ||
| Q2 25 | $7.7B | $3.1B | ||
| Q1 25 | $7.9B | $3.1B | ||
| Q4 24 | $8.0B | $3.2B | ||
| Q3 24 | $8.0B | $3.1B | ||
| Q2 24 | $5.6B | $3.2B | ||
| Q1 24 | $5.4B | $3.1B |
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 | $187.1M | $209.5M |
| 自由现金流经营现金流 - 资本支出 | $35.4M | $207.2M |
| 自由现金流率自由现金流/营收 | 4.6% | 17.0% |
| 资本支出强度资本支出/营收 | 19.9% | 0.2% |
| 现金转化率经营现金流/净利润 | 2.16× | 9.20× |
| 过去12个月自由现金流最近4个季度 | $432.2M | $170.1M |
8季度趋势，按日历期对齐
经营现金流NEVVX
| Q4 25 | $187.1M | $209.5M | ||
| Q3 25 | $277.1M | $39.4M | ||
| Q2 25 | $216.4M | $28.5M | ||
| Q1 25 | $271.1M | $-95.5M | ||
| Q4 24 | $136.2M | $223.1M | ||
| Q3 24 | $283.8M | $62.7M | ||
| Q2 24 | $106.8M | $25.7M | ||
| Q1 24 | $128.7M | $-57.2M |
自由现金流NEVVX
| Q4 25 | $35.4M | $207.2M | ||
| Q3 25 | $139.5M | $35.0M | ||
| Q2 25 | $99.8M | $26.1M | ||
| Q1 25 | $157.5M | $-98.2M | ||
| Q4 24 | $-4.4M | $222.0M | ||
| Q3 24 | $156.8M | $60.5M | ||
| Q2 24 | $-34.3M | $24.9M | ||
| Q1 24 | $-37.9M | $-65.0M |
自由现金流率NEVVX
| Q4 25 | 4.6% | 17.0% | ||
| Q3 25 | 17.5% | 3.0% | ||
| Q2 25 | 11.8% | 2.4% | ||
| Q1 25 | 18.0% | -9.7% | ||
| Q4 24 | -0.5% | 19.2% | ||
| Q3 24 | 19.6% | 5.6% | ||
| Q2 24 | -4.9% | 2.3% | ||
| Q1 24 | -6.0% | -6.4% |
资本支出强度NEVVX
| Q4 25 | 19.9% | 0.2% | ||
| Q3 25 | 17.3% | 0.4% | ||
| Q2 25 | 13.7% | 0.2% | ||
| Q1 25 | 13.0% | 0.3% | ||
| Q4 24 | 15.2% | 0.1% | ||
| Q3 24 | 15.9% | 0.2% | ||
| Q2 24 | 20.4% | 0.1% | ||
| Q1 24 | 26.2% | 0.8% |
现金转化率NEVVX
| Q4 25 | 2.16× | 9.20× | ||
| Q3 25 | — | 1.60× | ||
| Q2 25 | 5.05× | 1.27× | ||
| Q1 25 | 2.50× | -11.78× | ||
| Q4 24 | 1.41× | 8.91× | ||
| Q3 24 | 4.64× | 4.16× | ||
| Q2 24 | 0.55× | — | ||
| Q1 24 | 1.35× | -50.02× |
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
NE
| Floaters | $559.8M | 73% |
| Jackups | $145.5M | 19% |
| Service Other | $59.1M | 8% |
VVX
| Army | $480.4M | 39% |
| Navy | $388.9M | 32% |
| Air Force | $196.1M | 16% |
| Other Customers | $153.3M | 13% |
