> 数据图表如何看待关注防御属性股票
2025-6-1关注防御属性股票数字和人工智能（AI）业务的贡献增加，可能只能部分抵消美国业务的下降。预计2025财年，全球石油服务的共识平均净利润率和 EBITDA 利润率分别为 9% 和 18%，预计2026财年一些全球石油服务公司的利润率可能与此类似。我们建议精挑细选，重点关注 ADNOC Drilling 和 Chart Industries 等防御性公司。数据来源：Bloomberg, HTI Research. Chart shows dividend yield FY25 for selected Global oil service companies based on consensus数据来源：Bloomberg, HTI Research. Chart shows consensus EV/EBITDA and net profit margin for 2025E. ADNOC guides net profit margin at 28-30% for FY25 not shown exactly on the chart for graphical purposesFor full disclosure of risks, valuation methodologies and target price formation on all HTI rated stocks, please refer to the latest full report on our website at equities.htisec.com5 
