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ServiceNow（NOW）与PTC Inc.（PTC）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PTC Inc.的5.5倍（$3.8B vs $685.8M），PTC Inc.净利率更高（24.3% vs 12.4%，领先11.8%），PTC Inc.同比增速更快（21.4% vs 2.8%），ServiceNow自由现金流更多（$1.7B vs $267.4M），过去两年ServiceNow的营收复合增速更高（19.8% vs 6.6%）
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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
NOW vs PTC — 直观对比
营收规模更大
NOW
是对方的5.5倍
$685.8M
营收增速更快
PTC
高出18.6%
2.8%
净利率更高
PTC
高出11.8%
12.4%
自由现金流更多
NOW
多$1.4B
$267.4M
两年增速更快
NOW
近两年复合增速
6.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $685.8M |
| 净利润 | $469.0M | $166.5M |
| 毛利率 | 75.1% | 82.8% |
| 营业利润率 | 13.3% | 32.2% |
| 净利率 | 12.4% | 24.3% |
| 营收同比 | 2.8% | 21.4% |
| 净利润同比 | -53.7% | 102.5% |
| 每股收益（稀释后） | $1.04 | $1.39 |
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NOWPTC
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.6B | $685.8M | ||
| Q3 25 | $3.4B | $893.8M | ||
| Q2 25 | $3.2B | $643.9M | ||
| Q1 25 | $3.1B | $636.4M | ||
| Q4 24 | $3.0B | $565.1M | ||
| Q3 24 | $2.8B | $626.5M | ||
| Q2 24 | $2.6B | $518.6M |
净利润NOWPTC
| Q1 26 | $469.0M | — | ||
| Q4 25 | $401.0M | $166.5M | ||
| Q3 25 | $502.0M | $347.8M | ||
| Q2 25 | $385.0M | $141.3M | ||
| Q1 25 | $460.0M | $162.6M | ||
| Q4 24 | $384.0M | $82.2M | ||
| Q3 24 | $432.0M | $126.5M | ||
| Q2 24 | $262.0M | $69.0M |
毛利率NOWPTC
| Q1 26 | 75.1% | — | ||
| Q4 25 | 76.6% | 82.8% | ||
| Q3 25 | 77.3% | 86.9% | ||
| Q2 25 | 77.5% | 82.9% | ||
| Q1 25 | 78.9% | 83.3% | ||
| Q4 24 | 78.7% | 80.2% | ||
| Q3 24 | 79.1% | 82.0% | ||
| Q2 24 | 79.0% | 78.4% |
营业利润率NOWPTC
| Q1 26 | 13.3% | — | ||
| Q4 25 | 12.4% | 32.2% | ||
| Q3 25 | 16.8% | 48.5% | ||
| Q2 25 | 11.1% | 32.6% | ||
| Q1 25 | 14.6% | 35.1% | ||
| Q4 24 | 12.6% | 20.4% | ||
| Q3 24 | 14.9% | 31.0% | ||
| Q2 24 | 9.1% | 18.5% |
净利率NOWPTC
| Q1 26 | 12.4% | — | ||
| Q4 25 | 11.2% | 24.3% | ||
| Q3 25 | 14.7% | 38.9% | ||
| Q2 25 | 12.0% | 21.9% | ||
| Q1 25 | 14.9% | 25.6% | ||
| Q4 24 | 13.0% | 14.6% | ||
| Q3 24 | 15.4% | 20.2% | ||
| Q2 24 | 10.0% | 13.3% |
每股收益（稀释后）NOWPTC
| Q1 26 | $1.04 | — | ||
| Q4 25 | $-4.77 | $1.39 | ||
| Q3 25 | $2.40 | $2.88 | ||
| Q2 25 | $1.84 | $1.17 | ||
| Q1 25 | $2.20 | $1.35 | ||
| Q4 24 | $1.84 | $0.68 | ||
| Q3 24 | $2.07 | $1.05 | ||
| Q2 24 | $1.26 | $0.57 |
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 | $209.7M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $11.7B | $3.8B |
| 总资产 | $24.4B | $6.4B |
| 负债/权益比越低杠杆越低 | — | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资NOWPTC
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.7B | $209.7M | ||
| Q3 25 | $2.7B | $184.4M | ||
| Q2 25 | $3.1B | $199.3M | ||
| Q1 25 | $3.4B | $235.2M | ||
| Q4 24 | $2.3B | $196.3M | ||
| Q3 24 | $1.9B | $265.8M | ||
| Q2 24 | $2.2B | $247.7M |
总债务NOWPTC
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.3B |
股东权益NOWPTC
| Q1 26 | $11.7B | — | ||
| Q4 25 | $13.0B | $3.8B | ||
| Q3 25 | $11.3B | $3.8B | ||
| Q2 25 | $10.9B | $3.5B | ||
| Q1 25 | $10.1B | $3.4B | ||
| Q4 24 | $9.6B | $3.2B | ||
| Q3 24 | $9.3B | $3.2B | ||
| Q2 24 | $8.7B | $3.0B |
总资产NOWPTC
| Q1 26 | $24.4B | — | ||
| Q4 25 | $26.0B | $6.4B | ||
| Q3 25 | $21.8B | $6.6B | ||
| Q2 25 | $22.1B | $6.2B | ||
| Q1 25 | $21.0B | $6.2B | ||
| Q4 24 | $20.4B | $6.1B | ||
| Q3 24 | $18.4B | $6.4B | ||
| Q2 24 | $18.2B | $6.1B |
负债/权益比NOWPTC
| Q1 26 | — | — | ||
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.43× |
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 | $269.7M |
| 自由现金流经营现金流 - 资本支出 | $1.7B | $267.4M |
| 自由现金流率自由现金流/营收 | 44.2% | 39.0% |
| 资本支出强度资本支出/营收 | — | 0.3% |
| 现金转化率经营现金流/净利润 | 3.56× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $4.8B | $888.4M |
8季度趋势，按日历期对齐
经营现金流NOWPTC
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.2B | $269.7M | ||
| Q3 25 | $813.0M | $104.0M | ||
| Q2 25 | $716.0M | $243.9M | ||
| Q1 25 | $1.7B | $281.3M | ||
| Q4 24 | $1.6B | $238.4M | ||
| Q3 24 | $671.0M | $98.1M | ||
| Q2 24 | $620.0M | $213.8M |
自由现金流NOWPTC
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.0B | $267.4M | ||
| Q3 25 | $578.0M | $100.5M | ||
| Q2 25 | $526.0M | $242.0M | ||
| Q1 25 | $1.5B | $278.5M | ||
| Q4 24 | $1.4B | $235.7M | ||
| Q3 24 | $469.0M | $93.6M | ||
| Q2 24 | $358.0M | $212.2M |
自由现金流率NOWPTC
| Q1 26 | 44.2% | — | ||
| Q4 25 | 56.1% | 39.0% | ||
| Q3 25 | 17.0% | 11.2% | ||
| Q2 25 | 16.4% | 37.6% | ||
| Q1 25 | 47.7% | 43.8% | ||
| Q4 24 | 46.7% | 41.7% | ||
| Q3 24 | 16.8% | 14.9% | ||
| Q2 24 | 13.6% | 40.9% |
资本支出强度NOWPTC
| Q1 26 | — | — | ||
| Q4 25 | 6.7% | 0.3% | ||
| Q3 25 | 6.9% | 0.4% | ||
| Q2 25 | 5.9% | 0.3% | ||
| Q1 25 | 6.6% | 0.4% | ||
| Q4 24 | 8.6% | 0.5% | ||
| Q3 24 | 7.2% | 0.7% | ||
| Q2 24 | 10.0% | 0.3% |
现金转化率NOWPTC
| Q1 26 | 3.56× | — | ||
| Q4 25 | 5.58× | 1.62× | ||
| Q3 25 | 1.62× | 0.30× | ||
| Q2 25 | 1.86× | 1.73× | ||
| Q1 25 | 3.65× | 1.73× | ||
| Q4 24 | 4.26× | 2.90× | ||
| Q3 24 | 1.55× | 0.78× | ||
| Q2 24 | 2.37× | 3.10× |
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% |
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
