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国民油井华高（NOV）与Cactus, Inc.（WHD）财务数据对比。点击上方公司名可切换其他公司
国民油井华高的季度营收约是Cactus, Inc.的8.7倍（$2.3B vs $261.2M）。Cactus, Inc.净利率更高（15.3% vs -3.4%，领先18.7%）。国民油井华高同比增速更快（-1.3% vs -4.0%）。过去两年国民油井华高的营收复合增速更高（2.8% vs -2.4%）
NOV Inc.（前称国民油井华高）是总部位于美国得克萨斯州休斯顿的跨国企业，为上游油气行业提供钻探及生产作业所需的设备零部件、油田服务及供应链整合服务，在六大洲布局超500个运营点，下设能源设备、能源产品与服务两大业务板块。
Cactus, Inc.旗下拥有Cactus Club Cafe，是源自加拿大不列颠哥伦比亚省北温哥华的高端休闲连锁餐饮品牌。目前品牌已在加拿大全境布局34家门店，覆盖不列颠哥伦比亚、阿尔伯塔、萨斯喀彻温、安大略等省份，同时在美国也设有门店，主打高品质休闲餐饮体验。
NOV vs WHD — 直观对比
营收规模更大
NOV
是对方的8.7倍
$261.2M
营收增速更快
NOV
高出2.7%
-4.0%
净利率更高
WHD
高出18.7%
-3.4%
两年增速更快
NOV
近两年复合增速
-2.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $261.2M |
| 净利润 | $-78.0M | $39.8M |
| 毛利率 | 20.3% | 36.2% |
| 营业利润率 | 4.0% | 22.9% |
| 净利率 | -3.4% | 15.3% |
| 营收同比 | -1.3% | -4.0% |
| 净利润同比 | -148.8% | -14.7% |
| 每股收益（稀释后） | $-0.20 | — |
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NOVWHD
| Q4 25 | $2.3B | $261.2M | ||
| Q3 25 | $2.2B | $264.0M | ||
| Q2 25 | $2.2B | $273.6M | ||
| Q1 25 | $2.1B | $280.3M | ||
| Q4 24 | $2.3B | $272.1M | ||
| Q3 24 | $2.2B | $293.2M | ||
| Q2 24 | $2.2B | $290.4M | ||
| Q1 24 | $2.2B | $274.1M |
净利润NOVWHD
| Q4 25 | $-78.0M | $39.8M | ||
| Q3 25 | $42.0M | $41.6M | ||
| Q2 25 | $108.0M | $40.3M | ||
| Q1 25 | $73.0M | $44.2M | ||
| Q4 24 | $160.0M | $46.7M | ||
| Q3 24 | $130.0M | $49.9M | ||
| Q2 24 | $226.0M | $49.8M | ||
| Q1 24 | $119.0M | $39.0M |
毛利率NOVWHD
| Q4 25 | 20.3% | 36.2% | ||
| Q3 25 | 18.9% | 36.8% | ||
| Q2 25 | 20.4% | 36.6% | ||
| Q1 25 | 21.3% | 38.4% | ||
| Q4 24 | 21.4% | 37.8% | ||
| Q3 24 | 21.4% | 39.0% | ||
| Q2 24 | 26.6% | 39.2% | ||
| Q1 24 | 21.3% | 38.4% |
营业利润率NOVWHD
| Q4 25 | 4.0% | 22.9% | ||
| Q3 25 | 4.9% | 23.2% | ||
| Q2 25 | 6.5% | 22.2% | ||
| Q1 25 | 7.2% | 24.5% | ||
| Q4 24 | 9.0% | 25.9% | ||
| Q3 24 | 8.9% | 26.2% | ||
| Q2 24 | 14.1% | 27.5% | ||
| Q1 24 | 7.5% | 22.8% |
净利率NOVWHD
| Q4 25 | -3.4% | 15.3% | ||
| Q3 25 | 1.9% | 15.8% | ||
| Q2 25 | 4.9% | 14.7% | ||
| Q1 25 | 3.5% | 15.8% | ||
| Q4 24 | 6.9% | 17.2% | ||
| Q3 24 | 5.9% | 17.0% | ||
| Q2 24 | 10.2% | 17.2% | ||
| Q1 24 | 5.5% | 14.2% |
每股收益（稀释后）NOVWHD
| Q4 25 | $-0.20 | — | ||
| Q3 25 | $0.11 | — | ||
| Q2 25 | $0.29 | — | ||
| Q1 25 | $0.19 | — | ||
| Q4 24 | $0.40 | — | ||
| Q3 24 | $0.33 | — | ||
| Q2 24 | $0.57 | — | ||
| Q1 24 | $0.30 | — |
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 | $1.6B | $123.6M |
| 总债务越低越好 | $1.7B | $0 |
| 股东权益账面价值 | $6.3B | $1.2B |
| 总资产 | $11.3B | $1.9B |
| 负债/权益比越低杠杆越低 | 0.27× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资NOVWHD
| Q4 25 | $1.6B | $123.6M | ||
| Q3 25 | $1.2B | $445.6M | ||
| Q2 25 | $1.1B | $405.2M | ||
| Q1 25 | $1.2B | $347.7M | ||
| Q4 24 | $1.2B | $342.8M | ||
| Q3 24 | $985.0M | $303.4M | ||
| Q2 24 | $827.0M | $246.5M | ||
| Q1 24 | $468.0M | $194.3M |
总债务NOVWHD
| Q4 25 | $1.7B | $0 | ||
| Q3 25 | $1.7B | $0 | ||
| Q2 25 | $1.7B | $0 | ||
| Q1 25 | $1.7B | $0 | ||
| Q4 24 | $1.7B | $0 | ||
| Q3 24 | $1.7B | $0 | ||
| Q2 24 | $1.7B | $0 | ||
| Q1 24 | $1.8B | $0 |
股东权益NOVWHD
| Q4 25 | $6.3B | $1.2B | ||
| Q3 25 | $6.5B | $1.2B | ||
| Q2 25 | $6.5B | $1.1B | ||
| Q1 25 | $6.4B | $1.1B | ||
| Q4 24 | $6.4B | $1.1B | ||
| Q3 24 | $6.5B | $1.0B | ||
| Q2 24 | $6.4B | $954.7M | ||
| Q1 24 | $6.2B | $893.4M |
总资产NOVWHD
| Q4 25 | $11.3B | $1.9B | ||
| Q3 25 | $11.3B | $1.9B | ||
| Q2 25 | $11.4B | $1.8B | ||
| Q1 25 | $11.3B | $1.8B | ||
| Q4 24 | $11.4B | $1.7B | ||
| Q3 24 | $11.4B | $1.7B | ||
| Q2 24 | $11.3B | $1.6B | ||
| Q1 24 | $11.3B | $1.6B |
负债/权益比NOVWHD
| Q4 25 | 0.27× | 0.00× | ||
| Q3 25 | 0.27× | 0.00× | ||
| Q2 25 | 0.27× | 0.00× | ||
| Q1 25 | 0.27× | 0.00× | ||
| Q4 24 | 0.27× | 0.00× | ||
| Q3 24 | 0.27× | 0.00× | ||
| Q2 24 | 0.27× | 0.00× | ||
| Q1 24 | 0.29× | 0.00× |
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 | $573.0M | $72.3M |
| 自由现金流经营现金流 - 资本支出 | $472.0M | — |
| 自由现金流率自由现金流/营收 | 20.7% | — |
| 资本支出强度资本支出/营收 | 4.4% | — |
| 现金转化率经营现金流/净利润 | — | 1.81× |
| 过去12个月自由现金流最近4个季度 | $876.0M | — |
8季度趋势，按日历期对齐
经营现金流NOVWHD
| Q4 25 | $573.0M | $72.3M | ||
| Q3 25 | $352.0M | $61.8M | ||
| Q2 25 | $191.0M | $82.8M | ||
| Q1 25 | $135.0M | $41.5M | ||
| Q4 24 | $591.0M | $66.6M | ||
| Q3 24 | $359.0M | $85.3M | ||
| Q2 24 | $432.0M | $78.0M | ||
| Q1 24 | $-78.0M | $86.3M |
自由现金流NOVWHD
| Q4 25 | $472.0M | — | ||
| Q3 25 | $245.0M | — | ||
| Q2 25 | $108.0M | — | ||
| Q1 25 | $51.0M | — | ||
| Q4 24 | $473.0M | — | ||
| Q3 24 | $277.0M | — | ||
| Q2 24 | $350.0M | — | ||
| Q1 24 | $-147.0M | — |
自由现金流率NOVWHD
| Q4 25 | 20.7% | — | ||
| Q3 25 | 11.3% | — | ||
| Q2 25 | 4.9% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 20.5% | — | ||
| Q3 24 | 12.6% | — | ||
| Q2 24 | 15.8% | — | ||
| Q1 24 | -6.8% | — |
资本支出强度NOVWHD
| Q4 25 | 4.4% | — | ||
| Q3 25 | 4.9% | — | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | 4.0% | — | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 3.7% | — | ||
| Q1 24 | 3.2% | — |
现金转化率NOVWHD
| Q4 25 | — | 1.81× | ||
| Q3 25 | 8.38× | 1.48× | ||
| Q2 25 | 1.77× | 2.05× | ||
| Q1 25 | 1.85× | 0.94× | ||
| Q4 24 | 3.69× | 1.43× | ||
| Q3 24 | 2.76× | 1.71× | ||
| Q2 24 | 1.91× | 1.56× | ||
| Q1 24 | -0.66× | 2.21× |
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
NOV
| Land And Offshore | $718.0M | 32% |
| Continental | $536.0M | 24% |
| Aftermarket | $483.0M | 21% |
| Capital Equipment | $319.0M | 14% |
| Product Sales | $168.0M | 7% |
| Intersegment Revenue | $33.0M | 1% |
WHD
| Products | $201.4M | 77% |
| Other | $40.8M | 16% |
| Rental Revenue | $19.0M | 7% |
