vs
ServiceNow（NOW）与标普全球（SPGI）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是ServiceNow的1.1倍（$4.2B vs $3.8B），标普全球净利率更高（36.1% vs 12.4%，领先23.6%），标普全球同比增速更快（10.0% vs 2.8%），ServiceNow自由现金流更多（$1.7B vs $919.0M），过去两年ServiceNow的营收复合增速更高（19.8% vs 8.4%）
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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息、数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球市场财智、标普全球能源、标普全球移动、印度信用评级机构CRISIL等业务板块，同时控股合资企业标普道琼斯指数。
NOW vs SPGI — 直观对比
营收规模更大
SPGI
是对方的1.1倍
$3.8B
营收增速更快
SPGI
高出7.2%
2.8%
净利率更高
SPGI
高出23.6%
12.4%
自由现金流更多
NOW
多$746.0M
$919.0M
两年增速更快
NOW
近两年复合增速
8.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $4.2B |
| 净利润 | $469.0M | $1.5B |
| 毛利率 | 75.1% | — |
| 营业利润率 | 13.3% | 48.0% |
| 净利率 | 12.4% | 36.1% |
| 营收同比 | 2.8% | 10.0% |
| 净利润同比 | -53.7% | 28.0% |
| 每股收益（稀释后） | $1.04 | $4.69 |
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
营收NOWSPGI
| Q1 26 | $3.8B | $4.2B | ||
| Q4 25 | $3.6B | $3.9B | ||
| Q3 25 | $3.4B | $3.9B | ||
| Q2 25 | $3.2B | $3.8B | ||
| Q1 25 | $3.1B | $3.8B | ||
| Q4 24 | $3.0B | $3.6B | ||
| Q3 24 | $2.8B | $3.6B | ||
| Q2 24 | $2.6B | $3.5B |
净利润NOWSPGI
| Q1 26 | $469.0M | $1.5B | ||
| Q4 25 | $401.0M | $1.1B | ||
| Q3 25 | $502.0M | $1.2B | ||
| Q2 25 | $385.0M | $1.1B | ||
| Q1 25 | $460.0M | $1.1B | ||
| Q4 24 | $384.0M | $879.0M | ||
| Q3 24 | $432.0M | $971.0M | ||
| Q2 24 | $262.0M | $1.0B |
毛利率NOWSPGI
| Q1 26 | 75.1% | — | ||
| Q4 25 | 76.6% | 70.1% | ||
| Q3 25 | 77.3% | 71.2% | ||
| Q2 25 | 77.5% | 70.2% | ||
| Q1 25 | 78.9% | 69.5% | ||
| Q4 24 | 78.7% | 69.8% | ||
| Q3 24 | 79.1% | 70.0% | ||
| Q2 24 | 79.0% | 69.4% |
营业利润率NOWSPGI
| Q1 26 | 13.3% | 48.0% | ||
| Q4 25 | 12.4% | 42.7% | ||
| Q3 25 | 16.8% | 43.1% | ||
| Q2 25 | 11.1% | 41.3% | ||
| Q1 25 | 14.6% | 41.8% | ||
| Q4 24 | 12.6% | 36.4% | ||
| Q3 24 | 14.9% | 40.1% | ||
| Q2 24 | 9.1% | 40.9% |
净利率NOWSPGI
| Q1 26 | 12.4% | 36.1% | ||
| Q4 25 | 11.2% | 28.9% | ||
| Q3 25 | 14.7% | 30.2% | ||
| Q2 25 | 12.0% | 28.5% | ||
| Q1 25 | 14.9% | 28.9% | ||
| Q4 24 | 13.0% | 24.5% | ||
| Q3 24 | 15.4% | 27.2% | ||
| Q2 24 | 10.0% | 28.5% |
每股收益（稀释后）NOWSPGI
| Q1 26 | $1.04 | $4.69 | ||
| Q4 25 | $-4.77 | $3.76 | ||
| Q3 25 | $2.40 | $3.86 | ||
| Q2 25 | $1.84 | $3.50 | ||
| Q1 25 | $2.20 | $3.54 | ||
| Q4 24 | $1.84 | $2.85 | ||
| Q3 24 | $2.07 | $3.11 | ||
| Q2 24 | $1.26 | $3.23 |
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 | — | $13.3B |
| 股东权益账面价值 | $11.7B | $31.3B |
| 总资产 | $24.4B | $60.8B |
| 负债/权益比越低杠杆越低 | — | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资NOWSPGI
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.7B | $1.8B | ||
| Q3 25 | $2.7B | $1.7B | ||
| Q2 25 | $3.1B | $1.8B | ||
| Q1 25 | $3.4B | $1.5B | ||
| Q4 24 | $2.3B | $1.7B | ||
| Q3 24 | $1.9B | $1.7B | ||
| Q2 24 | $2.2B | $2.0B |
总债务NOWSPGI
| Q1 26 | — | $13.3B | ||
| Q4 25 | — | $13.1B | ||
| Q3 25 | — | $11.4B | ||
| Q2 25 | — | $11.4B | ||
| Q1 25 | — | $11.4B | ||
| Q4 24 | — | $11.4B | ||
| Q3 24 | — | $11.4B | ||
| Q2 24 | — | $11.4B |
股东权益NOWSPGI
| Q1 26 | $11.7B | $31.3B | ||
| Q4 25 | $13.0B | $31.1B | ||
| Q3 25 | $11.3B | $33.1B | ||
| Q2 25 | $10.9B | $33.4B | ||
| Q1 25 | $10.1B | $33.4B | ||
| Q4 24 | $9.6B | $33.2B | ||
| Q3 24 | $9.3B | $34.0B | ||
| Q2 24 | $8.7B | $34.9B |
总资产NOWSPGI
| Q1 26 | $24.4B | $60.8B | ||
| Q4 25 | $26.0B | $61.2B | ||
| Q3 25 | $21.8B | $59.7B | ||
| Q2 25 | $22.1B | $60.4B | ||
| Q1 25 | $21.0B | $59.9B | ||
| Q4 24 | $20.4B | $60.2B | ||
| Q3 24 | $18.4B | $60.4B | ||
| Q2 24 | $18.2B | $61.0B |
负债/权益比NOWSPGI
| Q1 26 | — | 0.43× | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | 0.34× | ||
| Q2 24 | — | 0.33× |
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 | $919.0M |
| 自由现金流率自由现金流/营收 | 44.2% | 22.0% |
| 资本支出强度资本支出/营收 | — | 0.6% |
| 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 | $5.5B |
8季度趋势，按日历期对齐
经营现金流NOWSPGI
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.2B | $1.7B | ||
| Q3 25 | $813.0M | $1.5B | ||
| Q2 25 | $716.0M | $1.4B | ||
| Q1 25 | $1.7B | $953.0M | ||
| Q4 24 | $1.6B | $1.7B | ||
| Q3 24 | $671.0M | $1.4B | ||
| Q2 24 | $620.0M | $1.6B |
自由现金流NOWSPGI
| Q1 26 | $1.7B | $919.0M | ||
| Q4 25 | $2.0B | $1.7B | ||
| Q3 25 | $578.0M | $1.5B | ||
| Q2 25 | $526.0M | $1.4B | ||
| Q1 25 | $1.5B | $910.0M | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $469.0M | $1.4B | ||
| Q2 24 | $358.0M | $1.5B |
自由现金流率NOWSPGI
| Q1 26 | 44.2% | 22.0% | ||
| Q4 25 | 56.1% | 43.5% | ||
| Q3 25 | 17.0% | 37.6% | ||
| Q2 25 | 16.4% | 36.9% | ||
| Q1 25 | 47.7% | 24.1% | ||
| Q4 24 | 46.7% | 47.5% | ||
| Q3 24 | 16.8% | 39.4% | ||
| Q2 24 | 13.6% | 42.9% |
资本支出强度NOWSPGI
| Q1 26 | — | 0.6% | ||
| Q4 25 | 6.7% | 1.2% | ||
| Q3 25 | 6.9% | 1.2% | ||
| Q2 25 | 5.9% | 1.6% | ||
| Q1 25 | 6.6% | 1.1% | ||
| Q4 24 | 8.6% | 0.9% | ||
| Q3 24 | 7.2% | 1.0% | ||
| Q2 24 | 10.0% | 0.9% |
现金转化率NOWSPGI
| Q1 26 | 3.56× | — | ||
| Q4 25 | 5.58× | 1.54× | ||
| Q3 25 | 1.62× | 1.28× | ||
| Q2 25 | 1.86× | 1.35× | ||
| Q1 25 | 3.65× | 0.87× | ||
| Q4 24 | 4.26× | 1.98× | ||
| Q3 24 | 1.55× | 1.49× | ||
| Q2 24 | 2.37× | 1.54× |
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% |
SPGI
| Ratings | $1.3B | 31% |
| Market Intelligence | $1.3B | 31% |
| Energy | $652.0M | 16% |
| Indices | $519.0M | 12% |
| Mobility | $454.0M | 11% |
