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ServiceNow（NOW）与Ulta Beauty（ULTA）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Ulta Beauty的1.3倍（$3.8B vs $2.9B），ServiceNow净利率更高（12.4% vs 8.1%，领先4.4%），Ulta Beauty同比增速更快（12.9% vs 2.8%），ServiceNow自由现金流更多（$1.7B vs $-81.6M），过去两年ServiceNow的营收复合增速更高（19.8% vs 7.2%）
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。
Ulta Beauty是美国头部美妆连锁品牌，总部位于伊利诺伊州博林布鲁克，旗下门店在售商品覆盖高低端彩妆、香水、美甲、身体护理、美发产品及美妆工具等全品类美妆个护产品，每家门店均配备对外开放的美容沙龙，为消费者提供一站式美妆消费及服务体验。
NOW vs ULTA — 直观对比
营收规模更大
NOW
是对方的1.3倍
$2.9B
营收增速更快
ULTA
高出10.2%
2.8%
净利率更高
NOW
高出4.4%
8.1%
自由现金流更多
NOW
多$1.7B
$-81.6M
两年增速更快
NOW
近两年复合增速
7.2%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $2.9B |
| 净利润 | $469.0M | $230.9M |
| 毛利率 | 75.1% | 40.4% |
| 营业利润率 | 13.3% | 10.8% |
| 净利率 | 12.4% | 8.1% |
| 营收同比 | 2.8% | 12.9% |
| 净利润同比 | -53.7% | -4.7% |
| 每股收益（稀释后） | $1.04 | $5.14 |
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NOWULTA
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.6B | $2.9B | ||
| Q3 25 | $3.4B | $2.8B | ||
| Q2 25 | $3.2B | $2.8B | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.0B | $2.5B | ||
| Q3 24 | $2.8B | $2.6B | ||
| Q2 24 | $2.6B | $2.7B |
净利润NOWULTA
| Q1 26 | $469.0M | — | ||
| Q4 25 | $401.0M | $230.9M | ||
| Q3 25 | $502.0M | $260.9M | ||
| Q2 25 | $385.0M | $305.1M | ||
| Q1 25 | $460.0M | — | ||
| Q4 24 | $384.0M | $242.2M | ||
| Q3 24 | $432.0M | $252.6M | ||
| Q2 24 | $262.0M | $313.1M |
毛利率NOWULTA
| Q1 26 | 75.1% | — | ||
| Q4 25 | 76.6% | 40.4% | ||
| Q3 25 | 77.3% | 39.2% | ||
| Q2 25 | 77.5% | 39.1% | ||
| Q1 25 | 78.9% | — | ||
| Q4 24 | 78.7% | 39.7% | ||
| Q3 24 | 79.1% | 38.3% | ||
| Q2 24 | 79.0% | 39.2% |
营业利润率NOWULTA
| Q1 26 | 13.3% | — | ||
| Q4 25 | 12.4% | 10.8% | ||
| Q3 25 | 16.8% | 12.4% | ||
| Q2 25 | 11.1% | 14.1% | ||
| Q1 25 | 14.6% | — | ||
| Q4 24 | 12.6% | 12.6% | ||
| Q3 24 | 14.9% | 12.9% | ||
| Q2 24 | 9.1% | 14.7% |
净利率NOWULTA
| Q1 26 | 12.4% | — | ||
| Q4 25 | 11.2% | 8.1% | ||
| Q3 25 | 14.7% | 9.4% | ||
| Q2 25 | 12.0% | 10.7% | ||
| Q1 25 | 14.9% | — | ||
| Q4 24 | 13.0% | 9.6% | ||
| Q3 24 | 15.4% | 9.9% | ||
| Q2 24 | 10.0% | 11.5% |
每股收益（稀释后）NOWULTA
| Q1 26 | $1.04 | — | ||
| Q4 25 | $-4.77 | $5.14 | ||
| Q3 25 | $2.40 | $5.78 | ||
| Q2 25 | $1.84 | $6.70 | ||
| Q1 25 | $2.20 | — | ||
| Q4 24 | $1.84 | $5.14 | ||
| Q3 24 | $2.07 | $5.30 | ||
| Q2 24 | $1.26 | $6.47 |
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 | $204.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $11.7B | $2.6B |
| 总资产 | $24.4B | $7.0B |
| 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NOWULTA
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.7B | $204.9M | ||
| Q3 25 | $2.7B | $242.7M | ||
| Q2 25 | $3.1B | $454.6M | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $2.3B | $177.8M | ||
| Q3 24 | $1.9B | $414.0M | ||
| Q2 24 | $2.2B | $524.6M |
股东权益NOWULTA
| Q1 26 | $11.7B | — | ||
| Q4 25 | $13.0B | $2.6B | ||
| Q3 25 | $11.3B | $2.6B | ||
| Q2 25 | $10.9B | $2.4B | ||
| Q1 25 | $10.1B | — | ||
| Q4 24 | $9.6B | $2.3B | ||
| Q3 24 | $9.3B | $2.3B | ||
| Q2 24 | $8.7B | $2.3B |
总资产NOWULTA
| Q1 26 | $24.4B | — | ||
| Q4 25 | $26.0B | $7.0B | ||
| Q3 25 | $21.8B | $6.6B | ||
| Q2 25 | $22.1B | $6.0B | ||
| Q1 25 | $21.0B | — | ||
| Q4 24 | $20.4B | $6.0B | ||
| Q3 24 | $18.4B | $5.7B | ||
| Q2 24 | $18.2B | $5.6B |
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 | $5.6M |
| 自由现金流经营现金流 - 资本支出 | $1.7B | $-81.6M |
| 自由现金流率自由现金流/营收 | 44.2% | -2.9% |
| 资本支出强度资本支出/营收 | — | 3.1% |
| 现金转化率经营现金流/净利润 | 3.56× | 0.02× |
| 过去12个月自由现金流最近4个季度 | $4.8B | $-92.2M |
8季度趋势，按日历期对齐
经营现金流NOWULTA
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.2B | $5.6M | ||
| Q3 25 | $813.0M | $96.5M | ||
| Q2 25 | $716.0M | $220.0M | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.6B | $-56.8M | ||
| Q3 24 | $671.0M | $199.5M | ||
| Q2 24 | $620.0M | $159.3M |
自由现金流NOWULTA
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.0B | $-81.6M | ||
| Q3 25 | $578.0M | $19.6M | ||
| Q2 25 | $526.0M | $141.0M | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.4B | $-171.1M | ||
| Q3 24 | $469.0M | $104.3M | ||
| Q2 24 | $358.0M | $68.3M |
自由现金流率NOWULTA
| Q1 26 | 44.2% | — | ||
| Q4 25 | 56.1% | -2.9% | ||
| Q3 25 | 17.0% | 0.7% | ||
| Q2 25 | 16.4% | 4.9% | ||
| Q1 25 | 47.7% | — | ||
| Q4 24 | 46.7% | -6.8% | ||
| Q3 24 | 16.8% | 4.1% | ||
| Q2 24 | 13.6% | 2.5% |
资本支出强度NOWULTA
| Q1 26 | — | — | ||
| Q4 25 | 6.7% | 3.1% | ||
| Q3 25 | 6.9% | 2.8% | ||
| Q2 25 | 5.9% | 2.8% | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 8.6% | 4.5% | ||
| Q3 24 | 7.2% | 3.7% | ||
| Q2 24 | 10.0% | 3.3% |
现金转化率NOWULTA
| Q1 26 | 3.56× | — | ||
| Q4 25 | 5.58× | 0.02× | ||
| Q3 25 | 1.62× | 0.37× | ||
| Q2 25 | 1.86× | 0.72× | ||
| Q1 25 | 3.65× | — | ||
| Q4 24 | 4.26× | -0.23× | ||
| Q3 24 | 1.55× | 0.79× | ||
| Q2 24 | 2.37× | 0.51× |
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% |
ULTA
暂无分部数据
