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ProPetro Holding Corp.（PUMP）与Select Water Solutions, Inc.（WTTR）财务数据对比。点击上方公司名可切换其他公司
Select Water Solutions, Inc.的季度营收约是ProPetro Holding Corp.的1.2倍（$346.5M vs $289.7M）。Select Water Solutions, Inc.同比增速更快（-0.7% vs -9.6%）。ProPetro Holding Corp.自由现金流更多（$16.8M vs $-6.0M）。过去两年Select Water Solutions, Inc.的营收复合增速更高（-2.8% vs -15.5%）
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。
Select Water Solutions是一家专注于油气领域的水务及环保解决方案供应商，主要服务北美陆上油气开采市场，核心业务涵盖水资源获取、处理、回收、处置及化学品解决方案，可帮助客户降低运营成本、减少环境影响。
PUMP vs WTTR — 直观对比
营收规模更大
WTTR
是对方的1.2倍
$289.7M
营收增速更快
WTTR
高出8.9%
-9.6%
自由现金流更多
PUMP
多$22.9M
$-6.0M
两年增速更快
WTTR
近两年复合增速
-15.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $289.7M | $346.5M |
| 净利润 | — | $-346.0K |
| 毛利率 | — | 13.1% |
| 营业利润率 | 2.1% | -0.1% |
| 净利率 | — | -0.1% |
| 营收同比 | -9.6% | -0.7% |
| 净利润同比 | — | 78.9% |
| 每股收益（稀释后） | $0.01 | — |
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PUMPWTTR
| Q4 25 | $289.7M | $346.5M | ||
| Q3 25 | $293.9M | $322.2M | ||
| Q2 25 | $326.2M | $364.2M | ||
| Q1 25 | $359.4M | $374.4M | ||
| Q4 24 | $320.6M | $349.0M | ||
| Q3 24 | $360.9M | $371.3M | ||
| Q2 24 | $357.0M | $365.1M | ||
| Q1 24 | $405.8M | $366.5M |
净利润PUMPWTTR
| Q4 25 | — | $-346.0K | ||
| Q3 25 | $-2.4M | $2.7M | ||
| Q2 25 | $-7.2M | $10.6M | ||
| Q1 25 | $9.6M | $8.2M | ||
| Q4 24 | — | $-1.6M | ||
| Q3 24 | $-137.1M | $15.8M | ||
| Q2 24 | $-3.7M | $12.9M | ||
| Q1 24 | $19.9M | $3.6M |
毛利率PUMPWTTR
| Q4 25 | — | 13.1% | ||
| Q3 25 | — | 13.5% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | 14.9% | ||
| Q4 24 | — | 12.7% | ||
| Q3 24 | — | 16.8% | ||
| Q2 24 | — | 16.5% | ||
| Q1 24 | — | 14.4% |
营业利润率PUMPWTTR
| Q4 25 | 2.1% | -0.1% | ||
| Q3 25 | -2.1% | -0.5% | ||
| Q2 25 | -1.0% | 4.2% | ||
| Q1 25 | 2.6% | 4.2% | ||
| Q4 24 | -5.8% | 0.7% | ||
| Q3 24 | -49.4% | 6.6% | ||
| Q2 24 | -0.1% | 5.6% | ||
| Q1 24 | 7.5% | 1.9% |
净利率PUMPWTTR
| Q4 25 | — | -0.1% | ||
| Q3 25 | -0.8% | 0.8% | ||
| Q2 25 | -2.2% | 2.9% | ||
| Q1 25 | 2.7% | 2.2% | ||
| Q4 24 | — | -0.5% | ||
| Q3 24 | -38.0% | 4.3% | ||
| Q2 24 | -1.0% | 3.5% | ||
| Q1 24 | 4.9% | 1.0% |
每股收益（稀释后）PUMPWTTR
| Q4 25 | $0.01 | — | ||
| Q3 25 | $-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 | $18.1M |
| 总债务越低越好 | — | $320.0M |
| 股东权益账面价值 | $829.8M | $805.6M |
| 总资产 | $1.3B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.40× |
8季度趋势，按日历期对齐
现金及短期投资PUMPWTTR
| Q4 25 | $91.3M | $18.1M | ||
| Q3 25 | $76.7M | $17.8M | ||
| Q2 25 | $83.0M | $51.2M | ||
| Q1 25 | $71.4M | $27.9M | ||
| Q4 24 | $58.3M | $20.0M | ||
| Q3 24 | $54.0M | $10.9M | ||
| Q2 24 | $74.7M | $16.4M | ||
| Q1 24 | $53.6M | $12.8M |
总债务PUMPWTTR
| Q4 25 | — | $320.0M | ||
| Q3 25 | — | $305.0M | ||
| Q2 25 | — | $275.0M | ||
| Q1 25 | — | $250.0M | ||
| Q4 24 | — | $85.0M | ||
| Q3 24 | — | $80.0M | ||
| Q2 24 | — | $90.0M | ||
| Q1 24 | — | $75.0M |
股东权益PUMPWTTR
| Q4 25 | $829.8M | $805.6M | ||
| Q3 25 | $826.2M | $808.1M | ||
| Q2 25 | $824.0M | $799.3M | ||
| Q1 25 | $826.5M | $793.1M | ||
| Q4 24 | $816.3M | $793.5M | ||
| Q3 24 | $833.0M | $796.5M | ||
| Q2 24 | $975.8M | $782.0M | ||
| Q1 24 | $998.2M | $770.0M |
总资产PUMPWTTR
| Q4 25 | $1.3B | $1.6B | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $1.5B | $1.3B | ||
| Q1 24 | $1.2B | $1.3B |
负债/权益比PUMPWTTR
| Q4 25 | — | 0.40× | ||
| Q3 25 | — | 0.38× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.10× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.10× |
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 | $65.5M |
| 自由现金流经营现金流 - 资本支出 | $16.8M | $-6.0M |
| 自由现金流率自由现金流/营收 | 5.8% | -1.7% |
| 资本支出强度资本支出/营收 | 22.2% | 20.6% |
| 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 | $-79.9M |
8季度趋势，按日历期对齐
经营现金流PUMPWTTR
| Q4 25 | $81.0M | $65.5M | ||
| Q3 25 | $41.7M | $71.7M | ||
| Q2 25 | $54.2M | $82.6M | ||
| Q1 25 | $54.7M | $-5.1M | ||
| Q4 24 | $37.9M | $67.8M | ||
| Q3 24 | $34.7M | $51.9M | ||
| Q2 24 | $104.9M | $83.1M | ||
| Q1 24 | $74.8M | $32.1M |
自由现金流PUMPWTTR
| Q4 25 | $16.8M | $-6.0M | ||
| Q3 25 | $-2.4M | $-23.5M | ||
| Q2 25 | $17.1M | $3.2M | ||
| Q1 25 | $13.8M | $-53.5M | ||
| Q4 24 | $10.0M | $12.7M | ||
| Q3 24 | $-6.0M | $16.7M | ||
| Q2 24 | $67.7M | $34.0M | ||
| Q1 24 | $40.2M | $-1.6M |
自由现金流率PUMPWTTR
| Q4 25 | 5.8% | -1.7% | ||
| Q3 25 | -0.8% | -7.3% | ||
| Q2 25 | 5.2% | 0.9% | ||
| Q1 25 | 3.8% | -14.3% | ||
| Q4 24 | 3.1% | 3.6% | ||
| Q3 24 | -1.7% | 4.5% | ||
| Q2 24 | 19.0% | 9.3% | ||
| Q1 24 | 9.9% | -0.4% |
资本支出强度PUMPWTTR
| Q4 25 | 22.2% | 20.6% | ||
| Q3 25 | 15.0% | 29.6% | ||
| Q2 25 | 11.4% | 21.8% | ||
| Q1 25 | 11.4% | 12.9% | ||
| Q4 24 | 8.7% | 15.8% | ||
| Q3 24 | 11.3% | 9.5% | ||
| Q2 24 | 10.4% | 13.5% | ||
| Q1 24 | 8.5% | 9.2% |
现金转化率PUMPWTTR
| Q4 25 | — | — | ||
| Q3 25 | — | 26.72× | ||
| Q2 25 | — | 7.76× | ||
| Q1 25 | 5.70× | -0.61× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | — | 6.46× | ||
| Q1 24 | 3.75× | 8.86× |
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% |
WTTR
| Water Services | $178.3M | 51% |
| Marcellus Utica | $38.6M | 11% |
| Rockies | $38.3M | 11% |
| Eagle Ford | $28.2M | 8% |
| Midcon | $23.0M | 7% |
| Haynesville E.Texas | $19.1M | 6% |
| Bakken | $17.3M | 5% |
| Eliminations And Other Geographical Regions | $3.6M | 1% |
