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斯伦贝谢（SLB）与Vistra Corp.（VST）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Vistra Corp.的1.8倍（$8.7B vs $4.8B），斯伦贝谢净利率更高（8.6% vs 4.8%，领先3.8%），Vistra Corp.同比增速更快（31.2% vs 2.7%），Vistra Corp.自由现金流更多（$596.0M vs $103.0M），过去两年Vistra Corp.的营收复合增速更高（23.3% 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。
股票代码为VST的Vistra Corp是总部位于美国得克萨斯州的能源企业，主营电力生产、可再生能源开发及能源零售等业务。此外“Vistra”也可指一家总部位于中国香港的企业服务提供商，为全球客户提供公司注册、合规管理等专业服务。
SLB vs VST — 直观对比
营收规模更大
SLB
是对方的1.8倍
$4.8B
营收增速更快
VST
高出28.5%
2.7%
净利率更高
SLB
高出3.8%
4.8%
自由现金流更多
VST
多$493.0M
$103.0M
两年增速更快
VST
近两年复合增速
-2.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $8.7B | $4.8B |
| 净利润 | $752.0M | $233.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 9.9% |
| 净利率 | 8.6% | 4.8% |
| 营收同比 | 2.7% | 31.2% |
| 净利润同比 | -5.6% | -47.2% |
| 每股收益（稀释后） | $0.50 | $0.55 |
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SLBVST
| Q1 26 | $8.7B | — | ||
| Q4 25 | $9.7B | $4.8B | ||
| Q3 25 | $8.9B | $4.8B | ||
| Q2 25 | $8.5B | $3.8B | ||
| Q1 25 | $8.5B | $4.3B | ||
| Q4 24 | $9.3B | $3.7B | ||
| Q3 24 | $9.2B | $4.3B | ||
| Q2 24 | $9.1B | $3.6B |
净利润SLBVST
| Q1 26 | $752.0M | — | ||
| Q4 25 | $824.0M | $233.0M | ||
| Q3 25 | $739.0M | $652.0M | ||
| Q2 25 | $1.0B | $327.0M | ||
| Q1 25 | $797.0M | $-268.0M | ||
| Q4 24 | $1.1B | $441.0M | ||
| Q3 24 | $1.2B | $1.9B | ||
| Q2 24 | $1.1B | $365.0M |
营业利润率SLBVST
| Q1 26 | — | — | ||
| Q4 25 | 9.7% | 9.9% | ||
| Q3 25 | 11.2% | 21.7% | ||
| Q2 25 | 15.0% | 13.7% | ||
| Q1 25 | 12.5% | -2.8% | ||
| Q4 24 | 14.9% | 16.4% | ||
| Q3 24 | 16.5% | 59.6% | ||
| Q2 24 | 15.5% | 22.5% |
净利率SLBVST
| Q1 26 | 8.6% | — | ||
| Q4 25 | 8.5% | 4.8% | ||
| Q3 25 | 8.3% | 13.6% | ||
| Q2 25 | 11.9% | 8.7% | ||
| Q1 25 | 9.4% | -6.3% | ||
| Q4 24 | 11.8% | 12.0% | ||
| Q3 24 | 12.9% | 43.5% | ||
| Q2 24 | 12.2% | 10.1% |
每股收益（稀释后）SLBVST
| Q1 26 | $0.50 | — | ||
| Q4 25 | $0.53 | $0.55 | ||
| Q3 25 | $0.50 | $1.75 | ||
| Q2 25 | $0.74 | $0.81 | ||
| Q1 25 | $0.58 | $-0.93 | ||
| Q4 24 | $0.77 | $1.09 | ||
| Q3 24 | $0.83 | $5.25 | ||
| Q2 24 | $0.77 | $0.90 |
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 | $785.0M |
| 总债务越低越好 | $9.7B | $15.8B |
| 股东权益账面价值 | $27.4B | $5.1B |
| 总资产 | $19.3B | $41.5B |
| 负债/权益比越低杠杆越低 | 0.35× | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资SLBVST
| Q1 26 | $3.4B | — | ||
| Q4 25 | $1.2B | $785.0M | ||
| Q3 25 | $571.0M | $602.0M | ||
| Q2 25 | $511.0M | $458.0M | ||
| Q1 25 | $961.0M | $561.0M | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $1.4B | $905.0M | ||
| Q2 24 | $1.1B | $1.6B |
总债务SLBVST
| Q1 26 | $9.7B | — | ||
| Q4 25 | — | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B |
股东权益SLBVST
| Q1 26 | $27.4B | — | ||
| Q4 25 | $26.1B | $5.1B | ||
| Q3 25 | $25.6B | $5.2B | ||
| Q2 25 | $20.3B | $4.8B | ||
| Q1 25 | $19.5B | $4.8B | ||
| Q4 24 | $21.1B | $5.6B | ||
| Q3 24 | $21.5B | $5.4B | ||
| Q2 24 | $21.1B | $5.6B |
总资产SLBVST
| Q1 26 | $19.3B | — | ||
| Q4 25 | $54.9B | $41.5B | ||
| Q3 25 | $55.1B | $38.0B | ||
| Q2 25 | $48.8B | $38.1B | ||
| Q1 25 | $49.0B | $38.2B | ||
| Q4 24 | $48.9B | $37.8B | ||
| Q3 24 | $49.8B | $37.9B | ||
| Q2 24 | $49.4B | $39.1B |
负债/权益比SLBVST
| Q1 26 | 0.35× | — | ||
| Q4 25 | — | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | — | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 2.49× |
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 | — | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $103.0M | $596.0M |
| 自由现金流率自由现金流/营收 | 1.2% | 12.4% |
| 资本支出强度资本支出/营收 | — | 17.4% |
| 现金转化率经营现金流/净利润 | — | 6.15× |
| 过去12个月自由现金流最近4个季度 | $4.6B | $1.3B |
8季度趋势，按日历期对齐
经营现金流SLBVST
| Q1 26 | — | — | ||
| Q4 25 | $3.0B | $1.4B | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | $1.1B | $572.0M | ||
| Q1 25 | $660.0M | $599.0M | ||
| Q4 24 | $2.4B | $1.4B | ||
| Q3 24 | $2.4B | $1.7B | ||
| Q2 24 | $1.4B | $1.2B |
自由现金流SLBVST
| Q1 26 | $103.0M | — | ||
| Q4 25 | $2.5B | $596.0M | ||
| Q3 25 | $1.3B | $1.0B | ||
| Q2 25 | $771.0M | $-118.0M | ||
| Q1 25 | $262.0M | $-169.0M | ||
| Q4 24 | $1.8B | $923.0M | ||
| Q3 24 | $2.0B | $1.0B | ||
| Q2 24 | $973.0M | $698.0M |
自由现金流率SLBVST
| Q1 26 | 1.2% | — | ||
| Q4 25 | 25.5% | 12.4% | ||
| Q3 25 | 14.3% | 21.1% | ||
| Q2 25 | 9.0% | -3.1% | ||
| Q1 25 | 3.1% | -4.0% | ||
| Q4 24 | 19.2% | 25.2% | ||
| Q3 24 | 21.7% | 23.4% | ||
| Q2 24 | 10.6% | 19.4% |
资本支出强度SLBVST
| Q1 26 | — | — | ||
| Q4 25 | 5.3% | 17.4% | ||
| Q3 25 | 4.6% | 9.6% | ||
| Q2 25 | 4.3% | 18.4% | ||
| Q1 25 | 4.7% | 18.1% | ||
| Q4 24 | 6.6% | 11.7% | ||
| Q3 24 | 5.0% | 15.8% | ||
| Q2 24 | 5.1% | 13.8% |
现金转化率SLBVST
| Q1 26 | — | — | ||
| Q4 25 | 3.65× | 6.15× | ||
| Q3 25 | 2.28× | 2.25× | ||
| Q2 25 | 1.13× | 1.75× | ||
| Q1 25 | 0.83× | — | ||
| Q4 24 | 2.18× | 3.07× | ||
| Q3 24 | 2.06× | 0.90× | ||
| Q2 24 | 1.29× | 3.28× |
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
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
