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ServiceNow（NOW）与OLD REPUBLIC INTERNATIONAL CORP（ORI）财务数据对比。点击上方公司名可切换其他公司
ServiceNow的季度营收约是OLD REPUBLIC INTERNATIONAL CORP的1.6倍（$3.8B vs $2.4B），OLD REPUBLIC INTERNATIONAL CORP净利率更高（13.8% vs 12.4%，领先1.3%），OLD REPUBLIC INTERNATIONAL CORP同比增速更快（6.7% vs 2.8%），过去两年ServiceNow的营收复合增速更高（19.8% vs 13.2%）
ServiceNow是2003年由弗雷德·卢迪在美国加利福尼亚州圣克拉拉创立的软件企业，主打云计算平台产品，可支持企业搭建及管理自动化业务工作流。公司于纽交所上市，现为标普100及标普500指数成分股。
Old Republic International Corp是一家总部位于美国伊利诺伊州芝加哥的保险企业，核心业务覆盖财产保险、产权保险两大领域，深耕行业多年，具备成熟的风险防控能力与完善的服务体系，可为各类客户提供专业可靠的保险产品及相关解决方案。
NOW vs ORI — 直观对比
营收规模更大
NOW
是对方的1.6倍
$2.4B
营收增速更快
ORI
高出4.0%
2.8%
净利率更高
ORI
高出1.3%
12.4%
两年增速更快
NOW
近两年复合增速
13.2%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $2.4B |
| 净利润 | $469.0M | $330.0M |
| 毛利率 | 75.1% | — |
| 营业利润率 | 13.3% | — |
| 净利率 | 12.4% | 13.8% |
| 营收同比 | 2.8% | 6.7% |
| 净利润同比 | -53.7% | 34.7% |
| 每股收益（稀释后） | $1.04 | — |
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NOWORI
| Q1 26 | $3.8B | $2.4B | ||
| Q4 25 | $3.6B | $2.4B | ||
| Q3 25 | $3.4B | $2.4B | ||
| Q2 25 | $3.2B | $2.2B | ||
| Q1 25 | $3.1B | $2.1B | ||
| Q4 24 | $3.0B | $2.0B | ||
| Q3 24 | $2.8B | $2.3B | ||
| Q2 24 | $2.6B | $1.9B |
净利润NOWORI
| Q1 26 | $469.0M | $330.0M | ||
| Q4 25 | $401.0M | $206.5M | ||
| Q3 25 | $502.0M | $279.5M | ||
| Q2 25 | $385.0M | $204.4M | ||
| Q1 25 | $460.0M | $245.0M | ||
| Q4 24 | $384.0M | $105.3M | ||
| Q3 24 | $432.0M | $338.9M | ||
| Q2 24 | $262.0M | $91.8M |
毛利率NOWORI
| Q1 26 | 75.1% | — | ||
| Q4 25 | 76.6% | — | ||
| Q3 25 | 77.3% | — | ||
| Q2 25 | 77.5% | — | ||
| Q1 25 | 78.9% | — | ||
| Q4 24 | 78.7% | — | ||
| Q3 24 | 79.1% | — | ||
| Q2 24 | 79.0% | — |
营业利润率NOWORI
| Q1 26 | 13.3% | — | ||
| Q4 25 | 12.4% | — | ||
| Q3 25 | 16.8% | 14.6% | ||
| Q2 25 | 11.1% | 11.8% | ||
| Q1 25 | 14.6% | 14.6% | ||
| Q4 24 | 12.6% | — | ||
| Q3 24 | 14.9% | 18.2% | ||
| Q2 24 | 9.1% | 6.1% |
净利率NOWORI
| Q1 26 | 12.4% | 13.8% | ||
| Q4 25 | 11.2% | 8.6% | ||
| Q3 25 | 14.7% | 11.5% | ||
| Q2 25 | 12.0% | 9.3% | ||
| Q1 25 | 14.9% | 11.6% | ||
| Q4 24 | 13.0% | 5.3% | ||
| Q3 24 | 15.4% | 14.5% | ||
| Q2 24 | 10.0% | 4.9% |
每股收益（稀释后）NOWORI
| Q1 26 | $1.04 | — | ||
| Q4 25 | $-4.77 | $0.82 | ||
| Q3 25 | $2.40 | $1.11 | ||
| Q2 25 | $1.84 | $0.81 | ||
| Q1 25 | $2.20 | $0.98 | ||
| Q4 24 | $1.84 | $0.42 | ||
| Q3 24 | $2.07 | $1.32 | ||
| Q2 24 | $1.26 | $0.35 |
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 | $2.7B | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $11.7B | $5.9M |
| 总资产 | $24.4B | $29.6M |
| 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NOWORI
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.7B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $2.2B | — |
股东权益NOWORI
| Q1 26 | $11.7B | $5.9M | ||
| Q4 25 | $13.0B | $5.9B | ||
| Q3 25 | $11.3B | $6.4B | ||
| Q2 25 | $10.9B | $6.2B | ||
| Q1 25 | $10.1B | $5.9B | ||
| Q4 24 | $9.6B | $5.6B | ||
| Q3 24 | $9.3B | $6.4B | ||
| Q2 24 | $8.7B | $6.0B |
总资产NOWORI
| Q1 26 | $24.4B | $29.6M | ||
| Q4 25 | $26.0B | $29.9B | ||
| Q3 25 | $21.8B | $30.3B | ||
| Q2 25 | $22.1B | $29.3B | ||
| Q1 25 | $21.0B | $28.0B | ||
| Q4 24 | $20.4B | $27.8B | ||
| Q3 24 | $18.4B | $28.8B | ||
| Q2 24 | $18.2B | $27.5B |
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 | $1.7B | — |
| 自由现金流经营现金流 - 资本支出 | $1.7B | — |
| 自由现金流率自由现金流/营收 | 44.2% | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 3.56× | — |
| 过去12个月自由现金流最近4个季度 | $4.8B | — |
8季度趋势，按日历期对齐
经营现金流NOWORI
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.2B | $234.9M | ||
| Q3 25 | $813.0M | $563.9M | ||
| Q2 25 | $716.0M | $133.8M | ||
| Q1 25 | $1.7B | $231.7M | ||
| Q4 24 | $1.6B | $361.7M | ||
| Q3 24 | $671.0M | $474.8M | ||
| Q2 24 | $620.0M | $236.5M |
自由现金流NOWORI
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.0B | — | ||
| Q3 25 | $578.0M | — | ||
| Q2 25 | $526.0M | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $469.0M | — | ||
| Q2 24 | $358.0M | — |
自由现金流率NOWORI
| Q1 26 | 44.2% | — | ||
| Q4 25 | 56.1% | — | ||
| Q3 25 | 17.0% | — | ||
| Q2 25 | 16.4% | — | ||
| Q1 25 | 47.7% | — | ||
| Q4 24 | 46.7% | — | ||
| Q3 24 | 16.8% | — | ||
| Q2 24 | 13.6% | — |
资本支出强度NOWORI
| Q1 26 | — | — | ||
| Q4 25 | 6.7% | — | ||
| Q3 25 | 6.9% | — | ||
| Q2 25 | 5.9% | — | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 8.6% | — | ||
| Q3 24 | 7.2% | — | ||
| Q2 24 | 10.0% | — |
现金转化率NOWORI
| Q1 26 | 3.56× | — | ||
| Q4 25 | 5.58× | 1.14× | ||
| Q3 25 | 1.62× | 2.02× | ||
| Q2 25 | 1.86× | 0.65× | ||
| Q1 25 | 3.65× | 0.95× | ||
| Q4 24 | 4.26× | 3.43× | ||
| Q3 24 | 1.55× | 1.40× | ||
| Q2 24 | 2.37× | 2.58× |
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
NOW
| Subscription revenues | $3.7B | 97% |
| Other | $80.5M | 2% |
| Professional services and other revenues | $18.5M | 0% |
ORI
| operating | $2.2B | 92% |
| Other | $201.8M | 8% |
