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美国航空集团（AAL）与A.O.史密斯（AOS）财务数据对比。点击上方公司名可切换其他公司
美国航空集团的季度营收约是A.O.史密斯的15.3倍（$14.0B vs $912.5M）。A.O.史密斯净利率更高（13.7% vs 0.7%，领先13.0%）。美国航空集团同比增速更快（2.5% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $-1.9B）。过去两年美国航空集团的营收复合增速更高（5.5% vs -3.4%）
美国航空集团是美国头部航司，总部坐落于得克萨斯州沃斯堡的达拉斯-沃斯堡都会区，按客运量、日航班量计算为全球最大航司。集团旗下连同区域子公司及以American Eagle品牌运营的合作航司，每日运营近6800个航班，覆盖48个国家近350个目的地，拥有完善的国内外航线网络。
A.O.史密斯是美国知名的家用及商用热水器、锅炉生产商，也是北美规模最大的热水器制造销售商，在亚洲市场还供应水处理和净化产品。公司在全球共有27个站点，包括北美5座生产基地，以及位于印度班加罗尔、中国南京、荷兰费尔德霍芬的工厂。
AAL vs AOS — 直观对比
营收规模更大
AAL
是对方的15.3倍
$912.5M
营收增速更快
AAL
高出2.5%
0.0%
净利率更高
AOS
高出13.0%
0.7%
自由现金流更多
AOS
多$2.1B
$-1.9B
两年增速更快
AAL
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $14.0B | $912.5M |
| 净利润 | $99.0M | $125.4M |
| 毛利率 | — | 38.4% |
| 营业利润率 | 3.2% | 17.9% |
| 净利率 | 0.7% | 13.7% |
| 营收同比 | 2.5% | 0.0% |
| 净利润同比 | -83.2% | 14.3% |
| 每股收益（稀释后） | $0.15 | $0.89 |
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AALAOS
| Q4 25 | $14.0B | $912.5M | ||
| Q3 25 | $13.7B | $942.5M | ||
| Q2 25 | $14.4B | $1.0B | ||
| Q1 25 | $12.6B | $963.9M | ||
| Q4 24 | $13.7B | $912.4M | ||
| Q3 24 | $13.6B | $902.6M | ||
| Q2 24 | $14.3B | $1.0B | ||
| Q1 24 | $12.6B | $978.8M |
净利润AALAOS
| Q4 25 | $99.0M | $125.4M | ||
| Q3 25 | $-114.0M | $132.0M | ||
| Q2 25 | $599.0M | $152.2M | ||
| Q1 25 | $-473.0M | $136.6M | ||
| Q4 24 | $590.0M | $109.7M | ||
| Q3 24 | $-149.0M | $120.1M | ||
| Q2 24 | $717.0M | $156.2M | ||
| Q1 24 | $-312.0M | $147.6M |
毛利率AALAOS
| Q4 25 | — | 38.4% | ||
| Q3 25 | — | 38.7% | ||
| Q2 25 | — | 39.3% | ||
| Q1 25 | — | 38.9% | ||
| Q4 24 | — | 37.1% | ||
| Q3 24 | — | 37.4% | ||
| Q2 24 | — | 38.7% | ||
| Q1 24 | — | 39.3% |
营业利润率AALAOS
| Q4 25 | 3.2% | 17.9% | ||
| Q3 25 | 1.1% | 18.6% | ||
| Q2 25 | 7.9% | 20.4% | ||
| Q1 25 | -2.2% | 19.1% | ||
| Q4 24 | 8.3% | 10.1% | ||
| Q3 24 | 0.7% | 19.5% | ||
| Q2 24 | 9.7% | 21.9% | ||
| Q1 24 | 0.1% | 22.0% |
净利率AALAOS
| Q4 25 | 0.7% | 13.7% | ||
| Q3 25 | -0.8% | 14.0% | ||
| Q2 25 | 4.2% | 15.0% | ||
| Q1 25 | -3.8% | 14.2% | ||
| Q4 24 | 4.3% | 12.0% | ||
| Q3 24 | -1.1% | 13.3% | ||
| Q2 24 | 5.0% | 15.2% | ||
| Q1 24 | -2.5% | 15.1% |
每股收益（稀释后）AALAOS
| Q4 25 | $0.15 | $0.89 | ||
| Q3 25 | $-0.17 | $0.94 | ||
| Q2 25 | $0.91 | $1.07 | ||
| Q1 25 | $-0.72 | $0.95 | ||
| Q4 24 | $0.94 | $0.75 | ||
| Q3 24 | $-0.23 | $0.82 | ||
| Q2 24 | $1.01 | $1.06 | ||
| Q1 24 | $-0.48 | $1.00 |
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 | — | $193.2M |
| 总债务越低越好 | $25.3B | $155.0M |
| 股东权益账面价值 | $-3.7B | $1.9B |
| 总资产 | $61.8B | $3.1B |
| 负债/权益比越低杠杆越低 | — | 0.08× |
8季度趋势，按日历期对齐
现金及短期投资AALAOS
| Q4 25 | — | $193.2M | ||
| Q3 25 | — | $172.8M | ||
| Q2 25 | — | $177.9M | ||
| Q1 25 | — | $200.2M | ||
| Q4 24 | — | $276.1M | ||
| Q3 24 | — | $255.6M | ||
| Q2 24 | — | $233.3M | ||
| Q1 24 | — | $303.1M |
总债务AALAOS
| Q4 25 | $25.3B | $155.0M | ||
| Q3 25 | $25.1B | — | ||
| Q2 25 | $25.3B | — | ||
| Q1 25 | $24.7B | — | ||
| Q4 24 | $25.2B | $193.2M | ||
| Q3 24 | $26.3B | — | ||
| Q2 24 | $27.6B | — | ||
| Q1 24 | $28.2B | — |
股东权益AALAOS
| Q4 25 | $-3.7B | $1.9B | ||
| Q3 25 | $-4.0B | $1.8B | ||
| Q2 25 | $-3.9B | $1.8B | ||
| Q1 25 | $-4.5B | $1.9B | ||
| Q4 24 | $-4.0B | $1.9B | ||
| Q3 24 | $-4.9B | $1.9B | ||
| Q2 24 | $-4.7B | $1.9B | ||
| Q1 24 | $-5.5B | $1.9B |
总资产AALAOS
| Q4 25 | $61.8B | $3.1B | ||
| Q3 25 | $62.1B | $3.2B | ||
| Q2 25 | $63.7B | $3.2B | ||
| Q1 25 | $62.6B | $3.3B | ||
| Q4 24 | $61.8B | $3.2B | ||
| Q3 24 | $63.5B | $3.2B | ||
| Q2 24 | $64.1B | $3.2B | ||
| Q1 24 | $64.4B | $3.2B |
负债/权益比AALAOS
| Q4 25 | — | 0.08× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.10× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-274.0M | $183.1M |
| 自由现金流经营现金流 - 资本支出 | $-1.9B | $165.5M |
| 自由现金流率自由现金流/营收 | -13.6% | 18.1% |
| 资本支出强度资本支出/营收 | 11.6% | 1.9% |
| 现金转化率经营现金流/净利润 | -2.77× | 1.46× |
| 过去12个月自由现金流最近4个季度 | $-680.0M | $546.0M |
8季度趋势，按日历期对齐
经营现金流AALAOS
| Q4 25 | $-274.0M | $183.1M | ||
| Q3 25 | $-46.0M | $255.4M | ||
| Q2 25 | $963.0M | $139.6M | ||
| Q1 25 | $2.5B | $38.7M | ||
| Q4 24 | $398.0M | $221.9M | ||
| Q3 24 | $277.0M | $195.9M | ||
| Q2 24 | $1.1B | $57.4M | ||
| Q1 24 | $2.2B | $106.6M |
自由现金流AALAOS
| Q4 25 | $-1.9B | $165.5M | ||
| Q3 25 | $-872.0M | $240.6M | ||
| Q2 25 | $464.0M | $122.5M | ||
| Q1 25 | $1.6B | $17.4M | ||
| Q4 24 | $-342.0M | $191.3M | ||
| Q3 24 | $-191.0M | $163.4M | ||
| Q2 24 | $477.0M | $34.5M | ||
| Q1 24 | $1.4B | $84.6M |
自由现金流率AALAOS
| Q4 25 | -13.6% | 18.1% | ||
| Q3 25 | -6.4% | 25.5% | ||
| Q2 25 | 3.2% | 12.1% | ||
| Q1 25 | 13.0% | 1.8% | ||
| Q4 24 | -2.5% | 21.0% | ||
| Q3 24 | -1.4% | 18.1% | ||
| Q2 24 | 3.3% | 3.4% | ||
| Q1 24 | 10.8% | 8.6% |
资本支出强度AALAOS
| Q4 25 | 11.6% | 1.9% | ||
| Q3 25 | 6.0% | 1.6% | ||
| Q2 25 | 3.5% | 1.7% | ||
| Q1 25 | 6.6% | 2.2% | ||
| Q4 24 | 5.4% | 3.4% | ||
| Q3 24 | 3.4% | 3.6% | ||
| Q2 24 | 4.5% | 2.2% | ||
| Q1 24 | 6.6% | 2.2% |
现金转化率AALAOS
| Q4 25 | -2.77× | 1.46× | ||
| Q3 25 | — | 1.93× | ||
| Q2 25 | 1.61× | 0.92× | ||
| Q1 25 | — | 0.28× | ||
| Q4 24 | 0.67× | 2.02× | ||
| Q3 24 | — | 1.63× | ||
| Q2 24 | 1.57× | 0.37× | ||
| Q1 24 | — | 0.72× |
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
AAL
| Passenger Travel | $11.6B | 83% |
| Loyalty Program Travel Redemptions | $1.1B | 8% |
| Loyalty Program Marketing Services | $945.0M | 7% |
| Cargo And Freight | $227.0M | 2% |
| Other Revenue | $169.0M | 1% |
AOS
| North America Segment | $713.7M | 78% |
| Rest Of World | $158.3M | 17% |
| Other | $40.5M | 4% |
