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北极星（PII）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
北极星的季度营收约是越洋钻探的1.6倍（$1.7B vs $1.0B），越洋钻探净利率更高（2.4% vs -2.8%，领先5.2%），越洋钻探同比增速更快（9.6% vs 8.0%），越洋钻探自由现金流更多（$321.0M vs $-342.5M），过去两年越洋钻探的营收复合增速更高（16.9% vs -8.0%）
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
PII vs RIG — 直观对比
营收规模更大
PII
是对方的1.6倍
$1.0B
营收增速更快
RIG
高出1.6%
8.0%
净利率更高
RIG
高出5.2%
-2.8%
自由现金流更多
RIG
多$663.5M
$-342.5M
两年增速更快
RIG
近两年复合增速
-8.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.0B |
| 净利润 | $-47.2M | $25.0M |
| 毛利率 | 20.2% | 42.0% |
| 营业利润率 | 76.5% | 23.0% |
| 净利率 | -2.8% | 2.4% |
| 营收同比 | 8.0% | 9.6% |
| 净利润同比 | 29.0% | 257.1% |
| 每股收益（稀释后） | $-0.83 | $0.13 |
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PIIRIG
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.9B | $1.0B | ||
| Q3 25 | $1.8B | $1.0B | ||
| Q2 25 | $1.9B | $988.0M | ||
| Q1 25 | $1.5B | $906.0M | ||
| Q4 24 | $1.8B | $952.0M | ||
| Q3 24 | $1.7B | $948.0M | ||
| Q2 24 | $2.0B | $861.0M |
净利润PIIRIG
| Q1 26 | $-47.2M | — | ||
| Q4 25 | $-303.6M | $25.0M | ||
| Q3 25 | $-15.8M | $-1.9B | ||
| Q2 25 | $-79.3M | $-938.0M | ||
| Q1 25 | $-66.8M | $-79.0M | ||
| Q4 24 | $10.6M | $7.0M | ||
| Q3 24 | $27.7M | $-494.0M | ||
| Q2 24 | $68.7M | $-123.0M |
毛利率PIIRIG
| Q1 26 | 20.2% | — | ||
| Q4 25 | 20.0% | 42.0% | ||
| Q3 25 | 20.7% | 43.2% | ||
| Q2 25 | 19.4% | 39.4% | ||
| Q1 25 | 16.0% | 31.8% | ||
| Q4 24 | 20.4% | 39.2% | ||
| Q3 24 | 20.6% | 40.6% | ||
| Q2 24 | 21.6% | 38.0% |
营业利润率PIIRIG
| Q1 26 | 76.5% | — | ||
| Q4 25 | -16.7% | 23.0% | ||
| Q3 25 | 1.1% | -163.1% | ||
| Q2 25 | -0.7% | -97.6% | ||
| Q1 25 | -2.4% | 7.1% | ||
| Q4 24 | 3.7% | 13.7% | ||
| Q3 24 | 3.8% | -51.2% | ||
| Q2 24 | 6.1% | -6.9% |
净利率PIIRIG
| Q1 26 | -2.8% | — | ||
| Q4 25 | -15.8% | 2.4% | ||
| Q3 25 | -0.9% | -187.1% | ||
| Q2 25 | -4.3% | -94.9% | ||
| Q1 25 | -4.3% | -8.7% | ||
| Q4 24 | 0.6% | 0.7% | ||
| Q3 24 | 1.6% | -52.1% | ||
| Q2 24 | 3.5% | -14.3% |
每股收益（稀释后）PIIRIG
| Q1 26 | $-0.83 | — | ||
| Q4 25 | $-5.34 | $0.13 | ||
| Q3 25 | $-0.28 | $-2.00 | ||
| Q2 25 | $-1.39 | $-1.06 | ||
| Q1 25 | $-1.17 | $-0.11 | ||
| Q4 24 | $0.18 | $-0.14 | ||
| Q3 24 | $0.49 | $-0.58 | ||
| Q2 24 | $1.21 | $-0.15 |
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 | $282.0M | $620.0M |
| 总债务越低越好 | — | $5.2B |
| 股东权益账面价值 | $750.4M | $8.1B |
| 总资产 | $5.2B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资PIIRIG
| Q1 26 | $282.0M | — | ||
| Q4 25 | $138.0M | $620.0M | ||
| Q3 25 | $335.5M | $833.0M | ||
| Q2 25 | $324.3M | $377.0M | ||
| Q1 25 | $291.7M | $263.0M | ||
| Q4 24 | $287.8M | $560.0M | ||
| Q3 24 | $291.3M | $435.0M | ||
| Q2 24 | $322.7M | $475.0M |
总债务PIIRIG
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $5.2B | ||
| Q3 25 | $1.3B | $4.8B | ||
| Q2 25 | $1.4B | $5.9B | ||
| Q1 25 | $1.6B | $5.9B | ||
| Q4 24 | $1.6B | $6.2B | ||
| Q3 24 | $1.7B | $6.5B | ||
| Q2 24 | $2.1B | $6.8B |
股东权益PIIRIG
| Q1 26 | $750.4M | — | ||
| Q4 25 | $828.4M | $8.1B | ||
| Q3 25 | $1.1B | $8.1B | ||
| Q2 25 | $1.2B | $9.4B | ||
| Q1 25 | $1.2B | $10.2B | ||
| Q4 24 | $1.3B | $10.3B | ||
| Q3 24 | $1.3B | $10.2B | ||
| Q2 24 | $1.3B | $10.7B |
总资产PIIRIG
| Q1 26 | $5.2B | — | ||
| Q4 25 | $4.9B | $15.6B | ||
| Q3 25 | $5.3B | $16.2B | ||
| Q2 25 | $5.4B | $17.8B | ||
| Q1 25 | $5.5B | $19.0B | ||
| Q4 24 | $5.5B | $19.4B | ||
| Q3 24 | $5.6B | $19.5B | ||
| Q2 24 | $5.7B | $20.3B |
负债/权益比PIIRIG
| Q1 26 | — | — | ||
| Q4 25 | 1.82× | 0.64× | ||
| Q3 25 | 1.13× | 0.60× | ||
| Q2 25 | 1.17× | 0.63× | ||
| Q1 25 | 1.32× | 0.58× | ||
| Q4 24 | 1.27× | 0.60× | ||
| Q3 24 | 1.29× | 0.64× | ||
| Q2 24 | 1.56× | 0.63× |
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 | — | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $-342.5M | $321.0M |
| 自由现金流率自由现金流/营收 | -20.6% | 30.8% |
| 资本支出强度资本支出/营收 | — | 2.7% |
| 现金转化率经营现金流/净利润 | — | 13.96× |
| 过去12个月自由现金流最近4个季度 | $168.0M | $626.0M |
8季度趋势，按日历期对齐
经营现金流PIIRIG
| Q1 26 | — | — | ||
| Q4 25 | $178.7M | $349.0M | ||
| Q3 25 | $158.8M | $246.0M | ||
| Q2 25 | $320.3M | $128.0M | ||
| Q1 25 | $83.2M | $26.0M | ||
| Q4 24 | $206.3M | $206.0M | ||
| Q3 24 | $21.0M | $194.0M | ||
| Q2 24 | $146.3M | $133.0M |
自由现金流PIIRIG
| Q1 26 | $-342.5M | — | ||
| Q4 25 | $114.0M | $321.0M | ||
| Q3 25 | $116.7M | $235.0M | ||
| Q2 25 | $279.8M | $104.0M | ||
| Q1 25 | $47.6M | $-34.0M | ||
| Q4 24 | $137.3M | $177.0M | ||
| Q3 24 | $-32.4M | $136.0M | ||
| Q2 24 | $79.1M | $49.0M |
自由现金流率PIIRIG
| Q1 26 | -20.6% | — | ||
| Q4 25 | 5.9% | 30.8% | ||
| Q3 25 | 6.3% | 22.9% | ||
| Q2 25 | 15.1% | 10.5% | ||
| Q1 25 | 3.1% | -3.8% | ||
| Q4 24 | 7.8% | 18.6% | ||
| Q3 24 | -1.9% | 14.3% | ||
| Q2 24 | 4.0% | 5.7% |
资本支出强度PIIRIG
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 2.7% | ||
| Q3 25 | 2.3% | 1.1% | ||
| Q2 25 | 2.2% | 2.4% | ||
| Q1 25 | 2.3% | 6.6% | ||
| Q4 24 | 3.9% | 3.0% | ||
| Q3 24 | 3.1% | 6.1% | ||
| Q2 24 | 3.4% | 9.8% |
现金转化率PIIRIG
| Q1 26 | — | — | ||
| Q4 25 | — | 13.96× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 19.46× | 29.43× | ||
| Q3 24 | 0.76× | — | ||
| Q2 24 | 2.13× | — |
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
PII
暂无分部数据
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
