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National Energy Services Reunited Corp.（NESR）与POWER SOLUTIONS INTERNATIONAL, INC.（PSIX）财务数据对比。点击上方公司名可切换其他公司
National Energy Services Reunited Corp.的季度营收约是POWER SOLUTIONS INTERNATIONAL, INC.的1.5倍（$295.3M vs $191.2M），POWER SOLUTIONS INTERNATIONAL, INC.净利率更高（8.4% vs 6.0%，领先2.4%），POWER SOLUTIONS INTERNATIONAL, INC.同比增速更快（32.5% vs -12.2%），POWER SOLUTIONS INTERNATIONAL, INC.自由现金流更多（$-7.6M vs $-34.1M）
National Energy Services Reunited Corp.是一家领先的综合油田服务供应商，为油气上游运营商提供钻井建设、完井、生产运营及干预作业等全系列解决方案，核心市场覆盖中东、北非及东亚地区，服务各国国家石油公司及国际能源客户。
阿达尼能源解决方案有限公司（前身为阿达尼输电有限公司）是一家电力输配企业，总部位于艾哈迈达巴德。截至2025年4月，公司累计输电网络总长26696回路公里，是印度规模最大的民营输电企业之一。
NESR vs PSIX — 直观对比
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $295.3M | $191.2M |
| 净利润 | $17.7M | $16.1M |
| 毛利率 | 12.0% | 21.9% |
| 营业利润率 | 6.6% | 12.7% |
| 净利率 | 6.0% | 8.4% |
| 营收同比 | -12.2% | 32.5% |
| 净利润同比 | -14.0% | -31.0% |
| 每股收益（稀释后） | $0.18 | $0.69 |
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
| Q4 25 | — | $191.2M | ||
| Q3 25 | $295.3M | $203.8M | ||
| Q2 25 | $327.4M | $191.9M | ||
| Q1 25 | $303.1M | $135.4M | ||
| Q4 24 | — | $144.3M | ||
| Q3 24 | $336.2M | $125.8M | ||
| Q2 24 | $325.0M | $110.6M | ||
| Q1 24 | — | $95.2M |
| Q4 25 | — | $16.1M | ||
| Q3 25 | $17.7M | $27.6M | ||
| Q2 25 | $15.2M | $51.2M | ||
| Q1 25 | $10.4M | $19.1M | ||
| Q4 24 | — | $23.3M | ||
| Q3 24 | $20.6M | $17.3M | ||
| Q2 24 | $18.9M | $21.5M | ||
| Q1 24 | — | $7.1M |
| Q4 25 | — | 21.9% | ||
| Q3 25 | 12.0% | 23.9% | ||
| Q2 25 | 13.4% | 28.2% | ||
| Q1 25 | 12.4% | 29.7% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | 15.9% | 28.9% | ||
| Q2 24 | 16.4% | 31.8% | ||
| Q1 24 | — | 27.0% |
| Q4 25 | — | 12.7% | ||
| Q3 25 | 6.6% | 13.9% | ||
| Q2 25 | 8.3% | 16.9% | ||
| Q1 25 | 6.9% | 18.2% | ||
| Q4 24 | — | 17.5% | ||
| Q3 24 | 10.5% | 16.3% | ||
| Q2 24 | 10.5% | 22.9% | ||
| Q1 24 | — | 11.2% |
| Q4 25 | — | 8.4% | ||
| Q3 25 | 6.0% | 13.5% | ||
| Q2 25 | 4.6% | 26.7% | ||
| Q1 25 | 3.4% | 14.1% | ||
| Q4 24 | — | 16.1% | ||
| Q3 24 | 6.1% | 13.8% | ||
| Q2 24 | 5.8% | 19.5% | ||
| Q1 24 | — | 7.5% |
| Q4 25 | — | $0.69 | ||
| Q3 25 | $0.18 | $1.20 | ||
| Q2 25 | $0.16 | $2.22 | ||
| Q1 25 | $0.11 | $0.83 | ||
| Q4 24 | — | $1.01 | ||
| Q3 24 | $0.22 | $0.75 | ||
| Q2 24 | $0.20 | $0.94 | ||
| Q1 24 | — | $0.31 |
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 | $69.7M | $41.3M |
| 总债务越低越好 | $274.1M | $96.6M |
| 股东权益账面价值 | $956.7M | $178.6M |
| 总资产 | $1.8B | $424.7M |
| 负债/权益比越低杠杆越低 | 0.29× | 0.54× |
8季度趋势，按日历期对齐
| Q4 25 | — | $41.3M | ||
| Q3 25 | $69.7M | $49.0M | ||
| Q2 25 | $131.8M | $49.5M | ||
| Q1 25 | $78.7M | $50.0M | ||
| Q4 24 | — | $55.3M | ||
| Q3 24 | $118.2M | $40.5M | ||
| Q2 24 | $75.0M | $28.8M | ||
| Q1 24 | — | $33.1M |
| Q4 25 | — | $96.6M | ||
| Q3 25 | $274.1M | $96.7M | ||
| Q2 25 | $291.7M | $1.8M | ||
| Q1 25 | $309.2M | $1.0M | ||
| Q4 24 | — | $184.0K | ||
| Q3 24 | $358.7M | $238.0K | ||
| Q2 24 | $376.7M | $292.0K | ||
| Q1 24 | — | $345.0K |
| Q4 25 | — | $178.6M | ||
| Q3 25 | $956.7M | $162.5M | ||
| Q2 25 | $936.9M | $135.7M | ||
| Q1 25 | $920.5M | $84.3M | ||
| Q4 24 | — | $65.3M | ||
| Q3 24 | $873.5M | $42.1M | ||
| Q2 24 | $851.4M | $24.8M | ||
| Q1 24 | — | $3.2M |
| Q4 25 | — | $424.7M | ||
| Q3 25 | $1.8B | $458.9M | ||
| Q2 25 | $1.8B | $437.7M | ||
| Q1 25 | $1.8B | $372.7M | ||
| Q4 24 | — | $328.2M | ||
| Q3 24 | $1.8B | $339.1M | ||
| Q2 24 | $1.8B | $307.6M | ||
| Q1 24 | — | $286.8M |
| Q4 25 | — | 0.54× | ||
| Q3 25 | 0.29× | 0.60× | ||
| Q2 25 | 0.31× | 0.01× | ||
| Q1 25 | 0.34× | 0.01× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | 0.41× | 0.01× | ||
| Q2 24 | 0.44× | 0.01× | ||
| Q1 24 | — | 0.11× |
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 | $6.7M | $-4.6M |
| 自由现金流经营现金流 - 资本支出 | $-34.1M | $-7.6M |
| 自由现金流率自由现金流/营收 | -11.5% | -4.0% |
| 资本支出强度资本支出/营收 | 13.8% | 1.6% |
| 现金转化率经营现金流/净利润 | 0.38× | -0.29× |
| 过去12个月自由现金流最近4个季度 | $68.5M | $14.1M |
8季度趋势，按日历期对齐
| Q4 25 | — | $-4.6M | ||
| Q3 25 | $6.7M | $3.3M | ||
| Q2 25 | $98.5M | $16.7M | ||
| Q1 25 | $20.5M | $8.8M | ||
| Q4 24 | — | $32.7M | ||
| Q3 24 | $70.8M | $12.6M | ||
| Q2 24 | — | $1.5M | ||
| Q1 24 | — | $15.6M |
| Q4 25 | — | $-7.6M | ||
| Q3 25 | $-34.1M | $1.7M | ||
| Q2 25 | $68.7M | $14.6M | ||
| Q1 25 | $-9.6M | $5.4M | ||
| Q4 24 | — | $30.0M | ||
| Q3 24 | $43.4M | $12.1M | ||
| Q2 24 | — | $822.0K | ||
| Q1 24 | — | $14.8M |
| Q4 25 | — | -4.0% | ||
| Q3 25 | -11.5% | 0.8% | ||
| Q2 25 | 21.0% | 7.6% | ||
| Q1 25 | -3.2% | 4.0% | ||
| Q4 24 | — | 20.8% | ||
| Q3 24 | 12.9% | 9.7% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 15.6% |
| Q4 25 | — | 1.6% | ||
| Q3 25 | 13.8% | 0.8% | ||
| Q2 25 | 9.1% | 1.1% | ||
| Q1 25 | 9.9% | 2.5% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | 8.1% | 0.3% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | — | -0.29× | ||
| Q3 25 | 0.38× | 0.12× | ||
| Q2 25 | 6.48× | 0.33× | ||
| Q1 25 | 1.97× | 0.46× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | 3.43× | 0.73× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 2.20× |
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
NESR
| Production Services | $174.4M | 59% |
| Drilling And Evaluation Services | $120.9M | 41% |
PSIX
| Energy End Market | $153.4M | 80% |
| Industrial End Market | $33.3M | 17% |
| Transportation End Market | $4.6M | 2% |
