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ServiceNow（NOW）与Williams Companies（WMB）财务数据对比。点击上方公司名可切换其他公司
Williams Companies的季度营收约是ServiceNow的1.0倍（$3.8B vs $3.8B），Williams Companies净利率更高（19.1% vs 12.4%，领先6.7%），Williams Companies同比增速更快（12.7% vs 2.8%），ServiceNow自由现金流更多（$1.7B vs $-379.0M），过去两年ServiceNow的营收复合增速更高（19.8% vs 7.3%）
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。
总部位于美国俄克拉荷马州塔尔萨的能源企业，位列《财富》美国500强，普通股为标普500指数成分股，核心业务为天然气加工与运输，同时持有石油、发电相关资产。
NOW vs WMB — 直观对比
营收规模更大
WMB
是对方的1.0倍
$3.8B
营收增速更快
WMB
高出9.9%
2.8%
净利率更高
WMB
高出6.7%
12.4%
自由现金流更多
NOW
多$2.0B
$-379.0M
两年增速更快
NOW
近两年复合增速
7.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $3.8B |
| 净利润 | $469.0M | $734.0M |
| 毛利率 | 75.1% | — |
| 营业利润率 | 13.3% | 27.3% |
| 净利率 | 12.4% | 19.1% |
| 营收同比 | 2.8% | 12.7% |
| 净利润同比 | -53.7% | 51.0% |
| 每股收益（稀释后） | $1.04 | $0.60 |
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NOWWMB
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.6B | $3.8B | ||
| Q3 25 | $3.4B | $3.5B | ||
| Q2 25 | $3.2B | $3.4B | ||
| Q1 25 | $3.1B | $4.2B | ||
| Q4 24 | $3.0B | $3.4B | ||
| Q3 24 | $2.8B | $3.0B | ||
| Q2 24 | $2.6B | $2.8B |
净利润NOWWMB
| Q1 26 | $469.0M | — | ||
| Q4 25 | $401.0M | $734.0M | ||
| Q3 25 | $502.0M | $647.0M | ||
| Q2 25 | $385.0M | $546.0M | ||
| Q1 25 | $460.0M | $691.0M | ||
| Q4 24 | $384.0M | $486.0M | ||
| Q3 24 | $432.0M | $706.0M | ||
| Q2 24 | $262.0M | $401.0M |
毛利率NOWWMB
| 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NOWWMB
| Q1 26 | 13.3% | — | ||
| Q4 25 | 12.4% | 27.3% | ||
| Q3 25 | 16.8% | 31.8% | ||
| Q2 25 | 11.1% | 28.0% | ||
| Q1 25 | 14.6% | 26.1% | ||
| Q4 24 | 12.6% | 23.2% | ||
| Q3 24 | 14.9% | 27.6% | ||
| Q2 24 | 9.1% | 24.4% |
净利率NOWWMB
| Q1 26 | 12.4% | — | ||
| Q4 25 | 11.2% | 19.1% | ||
| Q3 25 | 14.7% | 18.5% | ||
| Q2 25 | 12.0% | 16.2% | ||
| Q1 25 | 14.9% | 16.5% | ||
| Q4 24 | 13.0% | 14.2% | ||
| Q3 24 | 15.4% | 23.3% | ||
| Q2 24 | 10.0% | 14.1% |
每股收益（稀释后）NOWWMB
| Q1 26 | $1.04 | — | ||
| Q4 25 | $-4.77 | $0.60 | ||
| Q3 25 | $2.40 | $0.53 | ||
| Q2 25 | $1.84 | $0.45 | ||
| Q1 25 | $2.20 | $0.56 | ||
| Q4 24 | $1.84 | $0.39 | ||
| Q3 24 | $2.07 | $0.58 | ||
| Q2 24 | $1.26 | $0.33 |
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 | — | $27.3B |
| 股东权益账面价值 | $11.7B | $12.8B |
| 总资产 | $24.4B | $58.6B |
| 负债/权益比越低杠杆越低 | — | 2.13× |
8季度趋势，按日历期对齐
现金及短期投资NOWWMB
| 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 | — |
总债务NOWWMB
| Q1 26 | — | — | ||
| Q4 25 | — | $27.3B | ||
| Q3 25 | — | $25.6B | ||
| Q2 25 | — | $25.6B | ||
| Q1 25 | — | $24.1B | ||
| Q4 24 | — | $24.7B | ||
| Q3 24 | — | $24.8B | ||
| Q2 24 | — | $24.1B |
股东权益NOWWMB
| Q1 26 | $11.7B | — | ||
| Q4 25 | $13.0B | $12.8B | ||
| Q3 25 | $11.3B | $12.5B | ||
| Q2 25 | $10.9B | $12.4B | ||
| Q1 25 | $10.1B | $12.5B | ||
| Q4 24 | $9.6B | $12.4B | ||
| Q3 24 | $9.3B | $12.4B | ||
| Q2 24 | $8.7B | $12.3B |
总资产NOWWMB
| Q1 26 | $24.4B | — | ||
| Q4 25 | $26.0B | $58.6B | ||
| Q3 25 | $21.8B | $55.7B | ||
| Q2 25 | $22.1B | $56.1B | ||
| Q1 25 | $21.0B | $54.9B | ||
| Q4 24 | $20.4B | $54.5B | ||
| Q3 24 | $18.4B | $53.8B | ||
| Q2 24 | $18.2B | $52.4B |
负债/权益比NOWWMB
| Q1 26 | — | — | ||
| Q4 25 | — | 2.13× | ||
| Q3 25 | — | 2.04× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 1.93× | ||
| Q4 24 | — | 1.99× | ||
| Q3 24 | — | 2.00× | ||
| Q2 24 | — | 1.96× |
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 | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $1.7B | $-379.0M |
| 自由现金流率自由现金流/营收 | 44.2% | -9.9% |
| 资本支出强度资本支出/营收 | — | 50.9% |
| 现金转化率经营现金流/净利润 | 3.56× | 2.15× |
| 过去12个月自由现金流最近4个季度 | $4.8B | $1.0B |
8季度趋势，按日历期对齐
经营现金流NOWWMB
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.2B | $1.6B | ||
| Q3 25 | $813.0M | $1.4B | ||
| Q2 25 | $716.0M | $1.4B | ||
| Q1 25 | $1.7B | $1.4B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $671.0M | $1.2B | ||
| Q2 24 | $620.0M | $1.3B |
自由现金流NOWWMB
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.0B | $-379.0M | ||
| Q3 25 | $578.0M | $485.0M | ||
| Q2 25 | $526.0M | $478.0M | ||
| Q1 25 | $1.5B | $421.0M | ||
| Q4 24 | $1.4B | $450.0M | ||
| Q3 24 | $469.0M | $561.0M | ||
| Q2 24 | $358.0M | $700.0M |
自由现金流率NOWWMB
| Q1 26 | 44.2% | — | ||
| Q4 25 | 56.1% | -9.9% | ||
| Q3 25 | 17.0% | 13.9% | ||
| Q2 25 | 16.4% | 14.2% | ||
| Q1 25 | 47.7% | 10.1% | ||
| Q4 24 | 46.7% | 13.2% | ||
| Q3 24 | 16.8% | 18.5% | ||
| Q2 24 | 13.6% | 24.6% |
资本支出强度NOWWMB
| Q1 26 | — | — | ||
| Q4 25 | 6.7% | 50.9% | ||
| Q3 25 | 6.9% | 27.3% | ||
| Q2 25 | 5.9% | 28.8% | ||
| Q1 25 | 6.6% | 24.2% | ||
| Q4 24 | 8.6% | 22.5% | ||
| Q3 24 | 7.2% | 22.5% | ||
| Q2 24 | 10.0% | 20.3% |
现金转化率NOWWMB
| Q1 26 | 3.56× | — | ||
| Q4 25 | 5.58× | 2.15× | ||
| Q3 25 | 1.62× | 2.22× | ||
| Q2 25 | 1.86× | 2.66× | ||
| Q1 25 | 3.65× | 2.07× | ||
| Q4 24 | 4.26× | 2.51× | ||
| Q3 24 | 1.55× | 1.76× | ||
| Q2 24 | 2.37× | 3.19× |
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% |
WMB
| Services | $2.2B | 57% |
| Natural Gas Us Regulated | $740.0M | 19% |
| West | $730.0M | 19% |
| Non Regulated Service Commodity Consideration | $51.0M | 1% |
| Natural Gas Gathering Transportation Marketing And Processing | $45.0M | 1% |
| Affiliated Entity | $23.0M | 1% |
| Other | $14.0M | 0% |
| Other Service | $11.0M | 0% |
