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斯伦贝谢（SLB）与Targa Resources（TRGP）财务数据对比。点击上方公司名可切换其他公司
斯伦贝谢的季度营收约是Targa Resources的2.2倍（$8.7B vs $4.1B），Targa Resources净利率更高（13.4% vs 8.6%，领先4.8%），斯伦贝谢同比增速更快（2.7% vs -7.9%），Targa Resources自由现金流更多（$542.3M vs $103.0M），过去两年Targa Resources的营收复合增速更高（0.8% vs -2.3%）
SLB前身为斯伦贝谢，是全球知名的跨国油田服务企业。1926年创立于法国，现注册地为库拉索威廉斯塔德，在巴黎、休斯敦、伦敦、海牙四地设有核心行政办公室，截至2022年按营收计算是全球最大的海上钻井企业及海上钻井承包商。
Targa Resources Corp.为财富500强企业，总部位于美国得克萨斯州休斯敦，是美国规模最大的中游能源基础设施企业之一，主营天然气及天然气凝液输送业务，运营资产主要集中在墨西哥湾沿岸，得克萨斯州与路易斯安那州为核心布局区域，马修·J·梅洛伊自2020年起担任首席执行官。
SLB vs TRGP — 直观对比
营收规模更大
SLB
是对方的2.2倍
$4.1B
营收增速更快
SLB
高出10.7%
-7.9%
净利率更高
TRGP
高出4.8%
8.6%
自由现金流更多
TRGP
多$439.3M
$103.0M
两年增速更快
TRGP
近两年复合增速
-2.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $8.7B | $4.1B |
| 净利润 | $752.0M | $545.0M |
| 毛利率 | — | 43.1% |
| 营业利润率 | — | 22.6% |
| 净利率 | 8.6% | 13.4% |
| 营收同比 | 2.7% | -7.9% |
| 净利润同比 | -5.6% | 55.3% |
| 每股收益（稀释后） | $0.50 | $2.51 |
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SLBTRGP
| Q1 26 | $8.7B | — | ||
| Q4 25 | $9.7B | $4.1B | ||
| Q3 25 | $8.9B | $4.2B | ||
| Q2 25 | $8.5B | $4.3B | ||
| Q1 25 | $8.5B | $4.6B | ||
| Q4 24 | $9.3B | $4.4B | ||
| Q3 24 | $9.2B | $3.9B | ||
| Q2 24 | $9.1B | $3.0B |
净利润SLBTRGP
| Q1 26 | $752.0M | — | ||
| Q4 25 | $824.0M | $545.0M | ||
| Q3 25 | $739.0M | $478.4M | ||
| Q2 25 | $1.0B | $629.1M | ||
| Q1 25 | $797.0M | $270.5M | ||
| Q4 24 | $1.1B | $350.9M | ||
| Q3 24 | $1.2B | $387.4M | ||
| Q2 24 | $1.1B | $298.5M |
毛利率SLBTRGP
| Q1 26 | — | — | ||
| Q4 25 | — | 43.1% | ||
| Q3 25 | — | 39.6% | ||
| Q2 25 | — | 42.8% | ||
| Q1 25 | — | 28.6% | ||
| Q4 24 | — | 33.7% | ||
| Q3 24 | — | 38.6% | ||
| Q2 24 | — | 27.9% |
营业利润率SLBTRGP
| Q1 26 | — | — | ||
| Q4 25 | 9.7% | 22.6% | ||
| Q3 25 | 11.2% | 20.2% | ||
| Q2 25 | 15.0% | 24.3% | ||
| Q1 25 | 12.5% | 11.9% | ||
| Q4 24 | 14.9% | 15.9% | ||
| Q3 24 | 16.5% | 18.9% | ||
| Q2 24 | 15.5% | 20.6% |
净利率SLBTRGP
| Q1 26 | 8.6% | — | ||
| Q4 25 | 8.5% | 13.4% | ||
| Q3 25 | 8.3% | 11.5% | ||
| Q2 25 | 11.9% | 14.8% | ||
| Q1 25 | 9.4% | 5.9% | ||
| Q4 24 | 11.8% | 8.0% | ||
| Q3 24 | 12.9% | 10.1% | ||
| Q2 24 | 12.2% | 9.8% |
每股收益（稀释后）SLBTRGP
| Q1 26 | $0.50 | — | ||
| Q4 25 | $0.53 | $2.51 | ||
| Q3 25 | $0.50 | $2.20 | ||
| Q2 25 | $0.74 | $2.87 | ||
| Q1 25 | $0.58 | $0.91 | ||
| Q4 24 | $0.77 | $1.44 | ||
| Q3 24 | $0.83 | $1.75 | ||
| Q2 24 | $0.77 | $1.33 |
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 | $3.4B | $166.1M |
| 总债务越低越好 | $9.7B | $16.7B |
| 股东权益账面价值 | $27.4B | $3.1B |
| 总资产 | $19.3B | $25.2B |
| 负债/权益比越低杠杆越低 | 0.35× | 5.43× |
8季度趋势，按日历期对齐
现金及短期投资SLBTRGP
| Q1 26 | $3.4B | — | ||
| Q4 25 | $1.2B | $166.1M | ||
| Q3 25 | $571.0M | $124.1M | ||
| Q2 25 | $511.0M | $113.1M | ||
| Q1 25 | $961.0M | $151.4M | ||
| Q4 24 | $1.1B | $157.3M | ||
| Q3 24 | $1.4B | $127.2M | ||
| Q2 24 | $1.1B | $166.4M |
总债务SLBTRGP
| Q1 26 | $9.7B | — | ||
| Q4 25 | — | $16.7B | ||
| Q3 25 | — | $16.7B | ||
| Q2 25 | — | $16.1B | ||
| Q1 25 | — | $15.5B | ||
| Q4 24 | — | $13.8B | ||
| Q3 24 | — | $13.6B | ||
| Q2 24 | — | $13.0B |
股东权益SLBTRGP
| Q1 26 | $27.4B | — | ||
| Q4 25 | $26.1B | $3.1B | ||
| Q3 25 | $25.6B | $2.7B | ||
| Q2 25 | $20.3B | $2.6B | ||
| Q1 25 | $19.5B | $2.5B | ||
| Q4 24 | $21.1B | $2.6B | ||
| Q3 24 | $21.5B | $2.6B | ||
| Q2 24 | $21.1B | $2.5B |
总资产SLBTRGP
| Q1 26 | $19.3B | — | ||
| Q4 25 | $54.9B | $25.2B | ||
| Q3 25 | $55.1B | $24.2B | ||
| Q2 25 | $48.8B | $23.5B | ||
| Q1 25 | $49.0B | $22.8B | ||
| Q4 24 | $48.9B | $22.7B | ||
| Q3 24 | $49.8B | $21.9B | ||
| Q2 24 | $49.4B | $21.3B |
负债/权益比SLBTRGP
| Q1 26 | 0.35× | — | ||
| Q4 25 | — | 5.43× | ||
| Q3 25 | — | 6.19× | ||
| Q2 25 | — | 6.21× | ||
| Q1 25 | — | 6.34× | ||
| Q4 24 | — | 5.32× | ||
| Q3 24 | — | 5.28× | ||
| Q2 24 | — | 5.25× |
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 | — | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $103.0M | $542.3M |
| 自由现金流率自由现金流/营收 | 1.2% | 13.4% |
| 资本支出强度资本支出/营收 | — | 23.8% |
| 现金转化率经营现金流/净利润 | — | 2.76× |
| 过去12个月自由现金流最近4个季度 | $4.6B | $584.1M |
8季度趋势，按日历期对齐
经营现金流SLBTRGP
| Q1 26 | — | — | ||
| Q4 25 | $3.0B | $1.5B | ||
| Q3 25 | $1.7B | $599.2M | ||
| Q2 25 | $1.1B | $858.3M | ||
| Q1 25 | $660.0M | $954.4M | ||
| Q4 24 | $2.4B | $1.3B | ||
| Q3 24 | $2.4B | $540.9M | ||
| Q2 24 | $1.4B | $904.5M |
自由现金流SLBTRGP
| Q1 26 | $103.0M | — | ||
| Q4 25 | $2.5B | $542.3M | ||
| Q3 25 | $1.3B | $-72.6M | ||
| Q2 25 | $771.0M | $-47.8M | ||
| Q1 25 | $262.0M | $162.2M | ||
| Q4 24 | $1.8B | $601.0M | ||
| Q3 24 | $2.0B | $-287.9M | ||
| Q2 24 | $973.0M | $164.2M |
自由现金流率SLBTRGP
| Q1 26 | 1.2% | — | ||
| Q4 25 | 25.5% | 13.4% | ||
| Q3 25 | 14.3% | -1.7% | ||
| Q2 25 | 9.0% | -1.1% | ||
| Q1 25 | 3.1% | 3.6% | ||
| Q4 24 | 19.2% | 13.6% | ||
| Q3 24 | 21.7% | -7.5% | ||
| Q2 24 | 10.6% | 5.4% |
资本支出强度SLBTRGP
| Q1 26 | — | — | ||
| Q4 25 | 5.3% | 23.8% | ||
| Q3 25 | 4.6% | 16.2% | ||
| Q2 25 | 4.3% | 21.3% | ||
| Q1 25 | 4.7% | 17.4% | ||
| Q4 24 | 6.6% | 16.5% | ||
| Q3 24 | 5.0% | 21.5% | ||
| Q2 24 | 5.1% | 24.3% |
现金转化率SLBTRGP
| Q1 26 | — | — | ||
| Q4 25 | 3.65× | 2.76× | ||
| Q3 25 | 2.28× | 1.25× | ||
| Q2 25 | 1.13× | 1.36× | ||
| Q1 25 | 0.83× | 3.53× | ||
| Q4 24 | 2.18× | 3.78× | ||
| Q3 24 | 2.06× | 1.40× | ||
| Q2 24 | 1.29× | 3.03× |
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
SLB
暂无分部数据
TRGP
| Logistics And Transportation | $3.4B | 83% |
| Natural Gas Reserves | $393.1M | 10% |
| Storage Terminaling And Export | $130.9M | 3% |
| Oil And Condensate | $112.0M | 3% |
| NGL Transportation Fractionation And Services | $64.7M | 2% |
