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ServiceNow（NOW）与惠而浦（WHR）财务数据对比。点击上方公司名可切换其他公司
惠而浦的季度营收约是ServiceNow的1.1倍（$4.1B vs $3.8B），ServiceNow净利率更高（12.4% vs 2.7%，领先9.8%），ServiceNow同比增速更快（2.8% vs -0.9%），ServiceNow自由现金流更多（$1.7B vs $989.0M），过去两年ServiceNow的营收复合增速更高（19.8% vs -4.5%）
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。
惠而浦是总部位于美国密歇根州本顿特许镇的跨国家电研发、生产及销售企业，位列《财富》世界500强。2023年集团年销售额约190亿美元，全球员工规模近5.9万人，在世界各地布局超55座生产及技术研发中心。
NOW vs WHR — 直观对比
营收规模更大
WHR
是对方的1.1倍
$3.8B
营收增速更快
NOW
高出3.7%
-0.9%
净利率更高
NOW
高出9.8%
2.7%
自由现金流更多
NOW
多$676.0M
$989.0M
两年增速更快
NOW
近两年复合增速
-4.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $4.1B |
| 净利润 | $469.0M | $109.0M |
| 毛利率 | 75.1% | 14.0% |
| 营业利润率 | 13.3% | 6.0% |
| 净利率 | 12.4% | 2.7% |
| 营收同比 | 2.8% | -0.9% |
| 净利润同比 | -53.7% | 127.8% |
| 每股收益（稀释后） | $1.04 | $1.92 |
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NOWWHR
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.6B | $4.1B | ||
| Q3 25 | $3.4B | $4.0B | ||
| Q2 25 | $3.2B | $3.8B | ||
| Q1 25 | $3.1B | $3.6B | ||
| Q4 24 | $3.0B | $4.1B | ||
| Q3 24 | $2.8B | $4.0B | ||
| Q2 24 | $2.6B | $4.0B |
净利润NOWWHR
| Q1 26 | $469.0M | — | ||
| Q4 25 | $401.0M | $109.0M | ||
| Q3 25 | $502.0M | $73.0M | ||
| Q2 25 | $385.0M | $65.0M | ||
| Q1 25 | $460.0M | $71.0M | ||
| Q4 24 | $384.0M | $-392.0M | ||
| Q3 24 | $432.0M | $109.0M | ||
| Q2 24 | $262.0M | $219.0M |
毛利率NOWWHR
| Q1 26 | 75.1% | — | ||
| Q4 25 | 76.6% | 14.0% | ||
| Q3 25 | 77.3% | 14.7% | ||
| Q2 25 | 77.5% | 16.2% | ||
| Q1 25 | 78.9% | 16.8% | ||
| Q4 24 | 78.7% | 16.2% | ||
| Q3 24 | 79.1% | 16.1% | ||
| Q2 24 | 79.0% | 15.7% |
营业利润率NOWWHR
| Q1 26 | 13.3% | — | ||
| Q4 25 | 12.4% | 6.0% | ||
| Q3 25 | 16.8% | 5.1% | ||
| Q2 25 | 11.1% | 5.4% | ||
| Q1 25 | 14.6% | 5.1% | ||
| Q4 24 | 12.6% | -3.3% | ||
| Q3 24 | 14.9% | 6.6% | ||
| Q2 24 | 9.1% | 3.3% |
净利率NOWWHR
| Q1 26 | 12.4% | — | ||
| Q4 25 | 11.2% | 2.7% | ||
| Q3 25 | 14.7% | 1.8% | ||
| Q2 25 | 12.0% | 1.7% | ||
| Q1 25 | 14.9% | 2.0% | ||
| Q4 24 | 13.0% | -9.5% | ||
| Q3 24 | 15.4% | 2.7% | ||
| Q2 24 | 10.0% | 5.5% |
每股收益（稀释后）NOWWHR
| Q1 26 | $1.04 | — | ||
| Q4 25 | $-4.77 | $1.92 | ||
| Q3 25 | $2.40 | $1.29 | ||
| Q2 25 | $1.84 | $1.17 | ||
| Q1 25 | $2.20 | $1.28 | ||
| Q4 24 | $1.84 | $-7.11 | ||
| Q3 24 | $2.07 | $2.00 | ||
| Q2 24 | $1.26 | $3.96 |
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 | $669.0M |
| 总债务越低越好 | — | $6.2B |
| 股东权益账面价值 | $11.7B | $2.7B |
| 总资产 | $24.4B | $16.0B |
| 负债/权益比越低杠杆越低 | — | 2.26× |
8季度趋势，按日历期对齐
现金及短期投资NOWWHR
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.7B | $669.0M | ||
| Q3 25 | $2.7B | $934.0M | ||
| Q2 25 | $3.1B | $1.1B | ||
| Q1 25 | $3.4B | $1.0B | ||
| Q4 24 | $2.3B | $1.3B | ||
| Q3 24 | $1.9B | $1.1B | ||
| Q2 24 | $2.2B | $1.2B |
总债务NOWWHR
| Q1 26 | — | — | ||
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $6.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益NOWWHR
| Q1 26 | $11.7B | — | ||
| Q4 25 | $13.0B | $2.7B | ||
| Q3 25 | $11.3B | $2.6B | ||
| Q2 25 | $10.9B | $2.6B | ||
| Q1 25 | $10.1B | $2.6B | ||
| Q4 24 | $9.6B | $2.7B | ||
| Q3 24 | $9.3B | $3.0B | ||
| Q2 24 | $8.7B | $3.1B |
总资产NOWWHR
| Q1 26 | $24.4B | — | ||
| Q4 25 | $26.0B | $16.0B | ||
| Q3 25 | $21.8B | $16.9B | ||
| Q2 25 | $22.1B | $16.8B | ||
| Q1 25 | $21.0B | $16.5B | ||
| Q4 24 | $20.4B | $16.3B | ||
| Q3 24 | $18.4B | $17.2B | ||
| Q2 24 | $18.2B | $17.3B |
负债/权益比NOWWHR
| Q1 26 | — | — | ||
| Q4 25 | — | 2.26× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.46× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $1.7B | $989.0M |
| 自由现金流率自由现金流/营收 | 44.2% | 24.1% |
| 资本支出强度资本支出/营收 | — | 3.7% |
| 现金转化率经营现金流/净利润 | 3.56× | 10.45× |
| 过去12个月自由现金流最近4个季度 | $4.8B | $81.0M |
8季度趋势，按日历期对齐
经营现金流NOWWHR
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.2B | $1.1B | ||
| Q3 25 | $813.0M | $33.0M | ||
| Q2 25 | $716.0M | $19.0M | ||
| Q1 25 | $1.7B | $-721.0M | ||
| Q4 24 | $1.6B | $1.1B | ||
| Q3 24 | $671.0M | $214.0M | ||
| Q2 24 | $620.0M | $388.0M |
自由现金流NOWWHR
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.0B | $989.0M | ||
| Q3 25 | $578.0M | $-52.0M | ||
| Q2 25 | $526.0M | $-63.0M | ||
| Q1 25 | $1.5B | $-793.0M | ||
| Q4 24 | $1.4B | $970.0M | ||
| Q3 24 | $469.0M | $127.0M | ||
| Q2 24 | $358.0M | $275.0M |
自由现金流率NOWWHR
| Q1 26 | 44.2% | — | ||
| Q4 25 | 56.1% | 24.1% | ||
| Q3 25 | 17.0% | -1.3% | ||
| Q2 25 | 16.4% | -1.7% | ||
| Q1 25 | 47.7% | -21.9% | ||
| Q4 24 | 46.7% | 23.5% | ||
| Q3 24 | 16.8% | 3.2% | ||
| Q2 24 | 13.6% | 6.9% |
资本支出强度NOWWHR
| Q1 26 | — | — | ||
| Q4 25 | 6.7% | 3.7% | ||
| Q3 25 | 6.9% | 2.1% | ||
| Q2 25 | 5.9% | 2.2% | ||
| Q1 25 | 6.6% | 2.0% | ||
| Q4 24 | 8.6% | 3.3% | ||
| Q3 24 | 7.2% | 2.2% | ||
| Q2 24 | 10.0% | 2.8% |
现金转化率NOWWHR
| Q1 26 | 3.56× | — | ||
| Q4 25 | 5.58× | 10.45× | ||
| Q3 25 | 1.62× | 0.45× | ||
| Q2 25 | 1.86× | 0.29× | ||
| Q1 25 | 3.65× | -10.15× | ||
| Q4 24 | 4.26× | — | ||
| Q3 24 | 1.55× | 1.96× | ||
| Q2 24 | 2.37× | 1.77× |
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% |
WHR
| Refrigeration | $1.2B | 30% |
| Laundry | $1.1B | 27% |
| Cooking | $1.1B | 26% |
| Dishwashing | $299.0M | 7% |
| Other | $266.0M | 6% |
| Spare Parts And Warranties | $139.0M | 3% |
