vs
ServiceNow（NOW）与美国合众银行（USB）财务数据对比。点击上方公司名可切换其他公司
美国合众银行的季度营收约是ServiceNow的2.0倍（$7.4B vs $3.8B），美国合众银行净利率更高（27.8% vs 12.4%，领先15.3%），美国合众银行同比增速更快（5.1% vs 2.8%），过去两年ServiceNow的营收复合增速更高（19.8% vs 4.7%）
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。
美国合众银行是美国跨国银行机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为系统重要性机构，旗下核心运营主体提供银行、投资、按揭等多元金融服务。
NOW vs USB — 直观对比
营收规模更大
USB
是对方的2.0倍
$3.8B
营收增速更快
USB
高出2.3%
2.8%
净利率更高
USB
高出15.3%
12.4%
两年增速更快
NOW
近两年复合增速
4.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $7.4B |
| 净利润 | $469.0M | $2.0B |
| 毛利率 | 75.1% | — |
| 营业利润率 | 13.3% | 34.4% |
| 净利率 | 12.4% | 27.8% |
| 营收同比 | 2.8% | 5.1% |
| 净利润同比 | -53.7% | 23.0% |
| 每股收益（稀释后） | $1.04 | $1.26 |
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NOWUSB
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.6B | $7.4B | ||
| Q3 25 | $3.4B | $7.3B | ||
| Q2 25 | $3.2B | $7.0B | ||
| Q1 25 | $3.1B | $7.0B | ||
| Q4 24 | $3.0B | $7.0B | ||
| Q3 24 | $2.8B | $6.9B | ||
| Q2 24 | $2.6B | $6.9B |
净利润NOWUSB
| Q1 26 | $469.0M | — | ||
| Q4 25 | $401.0M | $2.0B | ||
| Q3 25 | $502.0M | $2.0B | ||
| Q2 25 | $385.0M | $1.8B | ||
| Q1 25 | $460.0M | $1.7B | ||
| Q4 24 | $384.0M | $1.7B | ||
| Q3 24 | $432.0M | $1.7B | ||
| Q2 24 | $262.0M | $1.6B |
毛利率NOWUSB
| 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NOWUSB
| Q1 26 | 13.3% | — | ||
| Q4 25 | 12.4% | 34.4% | ||
| Q3 25 | 16.8% | 34.5% | ||
| Q2 25 | 11.1% | 32.7% | ||
| Q1 25 | 14.6% | 31.0% | ||
| Q4 24 | 12.6% | 30.1% | ||
| Q3 24 | 14.9% | 30.2% | ||
| Q2 24 | 9.1% | 29.9% |
净利率NOWUSB
| Q1 26 | 12.4% | — | ||
| Q4 25 | 11.2% | 27.8% | ||
| Q3 25 | 14.7% | 27.3% | ||
| Q2 25 | 12.0% | 25.9% | ||
| Q1 25 | 14.9% | 24.6% | ||
| Q4 24 | 13.0% | 23.7% | ||
| Q3 24 | 15.4% | 25.0% | ||
| Q2 24 | 10.0% | 23.3% |
每股收益（稀释后）NOWUSB
| Q1 26 | $1.04 | — | ||
| Q4 25 | $-4.77 | $1.26 | ||
| Q3 25 | $2.40 | $1.22 | ||
| Q2 25 | $1.84 | $1.11 | ||
| Q1 25 | $2.20 | $1.03 | ||
| Q4 24 | $1.84 | $1.01 | ||
| Q3 24 | $2.07 | $1.03 | ||
| Q2 24 | $1.26 | $0.97 |
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 | $65.2B |
| 总资产 | $24.4B | $692.3B |
| 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NOWUSB
| 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NOWUSB
| Q1 26 | $11.7B | — | ||
| Q4 25 | $13.0B | $65.2B | ||
| Q3 25 | $11.3B | $63.3B | ||
| Q2 25 | $10.9B | $61.4B | ||
| Q1 25 | $10.1B | $60.1B | ||
| Q4 24 | $9.6B | $58.6B | ||
| Q3 24 | $9.3B | $58.9B | ||
| Q2 24 | $8.7B | $56.4B |
总资产NOWUSB
| Q1 26 | $24.4B | — | ||
| Q4 25 | $26.0B | $692.3B | ||
| Q3 25 | $21.8B | $695.4B | ||
| Q2 25 | $22.1B | $686.4B | ||
| Q1 25 | $21.0B | $676.5B | ||
| Q4 24 | $20.4B | $678.3B | ||
| Q3 24 | $18.4B | $686.5B | ||
| Q2 24 | $18.2B | $680.1B |
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 | $2.8B |
| 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× | 1.39× |
| 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NOWUSB
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.2B | $2.8B | ||
| Q3 25 | $813.0M | $3.4B | ||
| Q2 25 | $716.0M | $2.0B | ||
| Q1 25 | $1.7B | $-285.0M | ||
| Q4 24 | $1.6B | $4.8B | ||
| Q3 24 | $671.0M | $972.0M | ||
| Q2 24 | $620.0M | $2.9B |
自由现金流NOWUSB
| 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NOWUSB
| 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NOWUSB
| 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NOWUSB
| Q1 26 | 3.56× | — | ||
| Q4 25 | 5.58× | 1.39× | ||
| Q3 25 | 1.62× | 1.69× | ||
| Q2 25 | 1.86× | 1.12× | ||
| Q1 25 | 3.65× | -0.17× | ||
| Q4 24 | 4.26× | 2.87× | ||
| Q3 24 | 1.55× | 0.57× | ||
| Q2 24 | 2.37× | 1.79× |
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 | $99.0M | 3% |
USB
暂无分部数据
