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National Energy Services Reunited Corp.（NESR）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
National Energy Services Reunited Corp.的季度营收约是Rocket Lab Corp的1.6倍（$295.3M vs $179.7M），National Energy Services Reunited Corp.净利率更高（6.0% vs -29.5%，领先35.5%），Rocket Lab Corp同比增速更快（35.7% vs -12.2%），National Energy Services Reunited Corp.自由现金流更多（$-34.1M vs $-114.2M）
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。
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。
NESR vs RKLB — 直观对比
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $295.3M | $179.7M |
| 净利润 | $17.7M | $-52.9M |
| 毛利率 | 12.0% | 38.0% |
| 营业利润率 | 6.6% | -28.4% |
| 净利率 | 6.0% | -29.5% |
| 营收同比 | -12.2% | 35.7% |
| 净利润同比 | -14.0% | -1.1% |
| 每股收益（稀释后） | $0.18 | $-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
| Q4 25 | — | $179.7M | ||
| Q3 25 | $295.3M | $155.1M | ||
| Q2 25 | $327.4M | $144.5M | ||
| Q1 25 | $303.1M | $122.6M | ||
| Q4 24 | — | $132.4M | ||
| Q3 24 | $336.2M | $104.8M | ||
| Q2 24 | $325.0M | $106.3M | ||
| Q1 24 | — | $92.8M |
| Q4 25 | — | $-52.9M | ||
| Q3 25 | $17.7M | $-18.3M | ||
| Q2 25 | $15.2M | $-66.4M | ||
| Q1 25 | $10.4M | $-60.6M | ||
| Q4 24 | — | $-52.3M | ||
| Q3 24 | $20.6M | $-51.9M | ||
| Q2 24 | $18.9M | $-41.6M | ||
| Q1 24 | — | $-44.3M |
| Q4 25 | — | 38.0% | ||
| Q3 25 | 12.0% | 37.0% | ||
| Q2 25 | 13.4% | 32.1% | ||
| Q1 25 | 12.4% | 28.8% | ||
| Q4 24 | — | 27.8% | ||
| Q3 24 | 15.9% | 26.7% | ||
| Q2 24 | 16.4% | 25.6% | ||
| Q1 24 | — | 26.1% |
| Q4 25 | — | -28.4% | ||
| Q3 25 | 6.6% | -38.0% | ||
| Q2 25 | 8.3% | -41.3% | ||
| Q1 25 | 6.9% | -48.3% | ||
| Q4 24 | — | -38.9% | ||
| Q3 24 | 10.5% | -49.5% | ||
| Q2 24 | 10.5% | -40.7% | ||
| Q1 24 | — | -46.4% |
| Q4 25 | — | -29.5% | ||
| Q3 25 | 6.0% | -11.8% | ||
| Q2 25 | 4.6% | -46.0% | ||
| Q1 25 | 3.4% | -49.5% | ||
| Q4 24 | — | -39.5% | ||
| Q3 24 | 6.1% | -49.6% | ||
| Q2 24 | 5.8% | -39.2% | ||
| Q1 24 | — | -47.7% |
| Q4 25 | — | $-0.09 | ||
| Q3 25 | $0.18 | $-0.03 | ||
| Q2 25 | $0.16 | $-0.13 | ||
| Q1 25 | $0.11 | $-0.12 | ||
| Q4 24 | — | $-0.11 | ||
| Q3 24 | $0.22 | $-0.10 | ||
| Q2 24 | $0.20 | $-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 | $69.7M | $1.0B |
| 总债务越低越好 | $274.1M | $152.4M |
| 股东权益账面价值 | $956.7M | $1.7B |
| 总资产 | $1.8B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.29× | 0.09× |
8季度趋势，按日历期对齐
| Q4 25 | — | $1.0B | ||
| Q3 25 | $69.7M | $976.7M | ||
| Q2 25 | $131.8M | $688.1M | ||
| Q1 25 | $78.7M | $428.4M | ||
| Q4 24 | — | $419.0M | ||
| Q3 24 | $118.2M | $442.4M | ||
| Q2 24 | $75.0M | $496.8M | ||
| Q1 24 | — | $492.5M |
| Q4 25 | — | $152.4M | ||
| Q3 25 | $274.1M | $347.0M | ||
| Q2 25 | $291.7M | $346.5M | ||
| Q1 25 | $309.2M | $345.9M | ||
| Q4 24 | — | $345.4M | ||
| Q3 24 | $358.7M | $61.2M | ||
| Q2 24 | $376.7M | $64.2M | ||
| Q1 24 | — | $66.8M |
| Q4 25 | — | $1.7B | ||
| Q3 25 | $956.7M | $1.3B | ||
| Q2 25 | $936.9M | $688.5M | ||
| Q1 25 | $920.5M | $431.3M | ||
| Q4 24 | — | $382.5M | ||
| Q3 24 | $873.5M | $419.8M | ||
| Q2 24 | $851.4M | $455.2M | ||
| Q1 24 | — | $478.9M |
| Q4 25 | — | $2.3B | ||
| Q3 25 | $1.8B | $2.2B | ||
| Q2 25 | $1.8B | $1.6B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $1.8B | $1.2B | ||
| Q2 24 | $1.8B | $1.2B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | — | 0.09× | ||
| Q3 25 | 0.29× | 0.27× | ||
| Q2 25 | 0.31× | 0.50× | ||
| Q1 25 | 0.34× | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | 0.41× | 0.15× | ||
| Q2 24 | 0.44× | 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 | $6.7M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $-34.1M | $-114.2M |
| 自由现金流率自由现金流/营收 | -11.5% | -63.6% |
| 资本支出强度资本支出/营收 | 13.8% | 27.6% |
| 现金转化率经营现金流/净利润 | 0.38× | — |
| 过去12个月自由现金流最近4个季度 | $68.5M | $-321.8M |
8季度趋势，按日历期对齐
| Q4 25 | — | $-64.5M | ||
| Q3 25 | $6.7M | $-23.5M | ||
| Q2 25 | $98.5M | $-23.2M | ||
| Q1 25 | $20.5M | $-54.2M | ||
| Q4 24 | — | $-2.4M | ||
| Q3 24 | $70.8M | $-30.9M | ||
| Q2 24 | — | $-13.0M | ||
| Q1 24 | — | $-2.6M |
| Q4 25 | — | $-114.2M | ||
| Q3 25 | $-34.1M | $-69.4M | ||
| Q2 25 | $68.7M | $-55.3M | ||
| Q1 25 | $-9.6M | $-82.9M | ||
| Q4 24 | — | $-23.9M | ||
| Q3 24 | $43.4M | $-41.9M | ||
| Q2 24 | — | $-28.3M | ||
| Q1 24 | — | $-21.8M |
| Q4 25 | — | -63.6% | ||
| Q3 25 | -11.5% | -44.8% | ||
| Q2 25 | 21.0% | -38.3% | ||
| Q1 25 | -3.2% | -67.6% | ||
| Q4 24 | — | -18.1% | ||
| Q3 24 | 12.9% | -40.0% | ||
| Q2 24 | — | -26.7% | ||
| Q1 24 | — | -23.5% |
| Q4 25 | — | 27.6% | ||
| Q3 25 | 13.8% | 29.6% | ||
| Q2 25 | 9.1% | 22.2% | ||
| Q1 25 | 9.9% | 23.4% | ||
| Q4 24 | — | 16.3% | ||
| Q3 24 | 8.1% | 10.5% | ||
| Q2 24 | — | 14.4% | ||
| Q1 24 | — | 20.7% |
| Q4 25 | — | — | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 6.48× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.43× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
