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ProPetro Holding Corp.（PUMP）与WaterBridge Infrastructure LLC（WBI）财务数据对比。点击上方公司名可切换其他公司
ProPetro Holding Corp.的季度营收约是WaterBridge Infrastructure LLC的2.4倍（$289.7M vs $123.3M）。ProPetro Holding Corp.自由现金流更多（$16.8M vs $-117.8M）
ProPetro Holding Corp.是一家总部位于美国的油田服务供应商，主要为陆上油气勘探开采企业提供水力压裂、完井及相关配套服务，核心业务集中在横跨德克萨斯州和新墨西哥州的二叠纪盆地。
水桥基础设施（WaterBridge Infrastructure LLC）隶属于全球基础设施伙伴集团（GIP）。GIP是美国知名基础设施投资基金，在全球开展股权及优质债权投资业务，总部设于纽约，投资覆盖能源、交通、给排水与固废处理等领域的基础设施资产，在伦敦、悉尼、新加坡等全球多个城市设有办事处，拥有约150名投资及运营专业人员。
PUMP vs WBI — 直观对比
营收规模更大
PUMP
是对方的2.4倍
$123.3M
自由现金流更多
PUMP
多$134.7M
$-117.8M
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $289.7M | $123.3M |
| 净利润 | — | $-667.0K |
| 毛利率 | — | 28.4% |
| 营业利润率 | 2.1% | 19.2% |
| 净利率 | — | -0.5% |
| 营收同比 | -9.6% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.01 | $-0.02 |
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PUMPWBI
| Q4 25 | $289.7M | — | ||
| Q3 25 | $293.9M | $123.3M | ||
| Q2 25 | $326.2M | — | ||
| Q1 25 | $359.4M | — | ||
| Q4 24 | $320.6M | — | ||
| Q3 24 | $360.9M | — | ||
| Q2 24 | $357.0M | — | ||
| Q1 24 | $405.8M | — |
净利润PUMPWBI
| Q4 25 | — | — | ||
| Q3 25 | $-2.4M | $-667.0K | ||
| Q2 25 | $-7.2M | — | ||
| Q1 25 | $9.6M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-137.1M | — | ||
| Q2 24 | $-3.7M | — | ||
| Q1 24 | $19.9M | — |
毛利率PUMPWBI
| Q4 25 | — | — | ||
| Q3 25 | — | 28.4% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率PUMPWBI
| Q4 25 | 2.1% | — | ||
| Q3 25 | -2.1% | 19.2% | ||
| Q2 25 | -1.0% | — | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | -5.8% | — | ||
| Q3 24 | -49.4% | — | ||
| Q2 24 | -0.1% | — | ||
| Q1 24 | 7.5% | — |
净利率PUMPWBI
| Q4 25 | — | — | ||
| Q3 25 | -0.8% | -0.5% | ||
| Q2 25 | -2.2% | — | ||
| Q1 25 | 2.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -38.0% | — | ||
| Q2 24 | -1.0% | — | ||
| Q1 24 | 4.9% | — |
每股收益（稀释后）PUMPWBI
| Q4 25 | $0.01 | — | ||
| Q3 25 | $-0.02 | $-0.02 | ||
| Q2 25 | $-0.07 | — | ||
| Q1 25 | $0.09 | — | ||
| Q4 24 | $-0.14 | — | ||
| Q3 24 | $-1.32 | — | ||
| Q2 24 | $-0.03 | — | ||
| Q1 24 | $0.18 | — |
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 | $91.3M | $346.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $829.8M | $607.7M |
| 总资产 | $1.3B | $3.9B |
| 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PUMPWBI
| Q4 25 | $91.3M | — | ||
| Q3 25 | $76.7M | $346.6M | ||
| Q2 25 | $83.0M | — | ||
| Q1 25 | $71.4M | — | ||
| Q4 24 | $58.3M | — | ||
| Q3 24 | $54.0M | — | ||
| Q2 24 | $74.7M | — | ||
| Q1 24 | $53.6M | — |
股东权益PUMPWBI
| Q4 25 | $829.8M | — | ||
| Q3 25 | $826.2M | $607.7M | ||
| Q2 25 | $824.0M | — | ||
| Q1 25 | $826.5M | — | ||
| Q4 24 | $816.3M | — | ||
| Q3 24 | $833.0M | — | ||
| Q2 24 | $975.8M | — | ||
| Q1 24 | $998.2M | — |
总资产PUMPWBI
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | $3.9B | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.2B | — |
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 | $81.0M | $71.5M |
| 自由现金流经营现金流 - 资本支出 | $16.8M | $-117.8M |
| 自由现金流率自由现金流/营收 | 5.8% | -95.6% |
| 资本支出强度资本支出/营收 | 22.2% | 153.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $45.3M | — |
8季度趋势，按日历期对齐
经营现金流PUMPWBI
| Q4 25 | $81.0M | — | ||
| Q3 25 | $41.7M | $71.5M | ||
| Q2 25 | $54.2M | — | ||
| Q1 25 | $54.7M | — | ||
| Q4 24 | $37.9M | — | ||
| Q3 24 | $34.7M | — | ||
| Q2 24 | $104.9M | — | ||
| Q1 24 | $74.8M | — |
自由现金流PUMPWBI
| Q4 25 | $16.8M | — | ||
| Q3 25 | $-2.4M | $-117.8M | ||
| Q2 25 | $17.1M | — | ||
| Q1 25 | $13.8M | — | ||
| Q4 24 | $10.0M | — | ||
| Q3 24 | $-6.0M | — | ||
| Q2 24 | $67.7M | — | ||
| Q1 24 | $40.2M | — |
自由现金流率PUMPWBI
| Q4 25 | 5.8% | — | ||
| Q3 25 | -0.8% | -95.6% | ||
| Q2 25 | 5.2% | — | ||
| Q1 25 | 3.8% | — | ||
| Q4 24 | 3.1% | — | ||
| Q3 24 | -1.7% | — | ||
| Q2 24 | 19.0% | — | ||
| Q1 24 | 9.9% | — |
资本支出强度PUMPWBI
| Q4 25 | 22.2% | — | ||
| Q3 25 | 15.0% | 153.6% | ||
| Q2 25 | 11.4% | — | ||
| Q1 25 | 11.4% | — | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | 11.3% | — | ||
| Q2 24 | 10.4% | — | ||
| Q1 24 | 8.5% | — |
现金转化率PUMPWBI
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 5.70× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 3.75× | — |
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
PUMP
| Hydraulic Fracturing Segment | $203.9M | 70% |
| Wireline Operating Segment | $55.4M | 19% |
| Cementing Operating Segment | $29.6M | 10% |
WBI
| Produced Water Handling Revenues Excluding Skim Oil | $102.3M | 83% |
| Water Bridge Equity Finance Limited Liability Company | $12.0M | 10% |
| Skim Oil | $9.1M | 7% |
| Desert Environmental Limited Liability Company | $1.2M | 1% |
