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A.O.史密斯（AOS）与AMPCO PITTSBURGH CORP（AP）财务数据对比。点击上方公司名可切换其他公司
A.O.史密斯的季度营收约是AMPCO PITTSBURGH CORP的8.7倍（$912.5M vs $104.4M）。A.O.史密斯净利率更高（13.7% vs -55.2%，领先69.0%）。AMPCO PITTSBURGH CORP同比增速更快（11.5% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $-64.0K）。过去两年AMPCO PITTSBURGH CORP的营收复合增速更高（-2.6% vs -3.4%）
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。
安普科匹兹堡公司是一家特种钢材制造商，总部位于宾夕法尼亚州匹兹堡市中心，1929年由多家此前已成立的小型钢铁企业合并组建而成。需要注意区分它和其他同样带有Ampco名称的企业，比如位于密尔沃基的铜基合金生产商、迈阿密的橱柜企业等。
AOS vs AP — 直观对比
营收规模更大
AOS
是对方的8.7倍
$104.4M
营收增速更快
AP
高出11.4%
0.0%
净利率更高
AOS
高出69.0%
-55.2%
自由现金流更多
AOS
多$165.6M
$-64.0K
两年增速更快
AP
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $104.4M |
| 净利润 | $125.4M | $-57.7M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 17.9% | -54.0% |
| 净利率 | 13.7% | -55.2% |
| 营收同比 | 0.0% | 11.5% |
| 净利润同比 | 14.3% | -1958.9% |
| 每股收益（稀释后） | $0.89 | $-2.87 |
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AOSAP
| Q4 25 | $912.5M | $104.4M | ||
| Q3 25 | $942.5M | $103.7M | ||
| Q2 25 | $1.0B | $108.9M | ||
| Q1 25 | $963.9M | $99.2M | ||
| Q4 24 | $912.4M | $93.6M | ||
| Q3 24 | $902.6M | $92.1M | ||
| Q2 24 | $1.0B | $107.1M | ||
| Q1 24 | $978.8M | $110.0M |
净利润AOSAP
| Q4 25 | $125.4M | $-57.7M | ||
| Q3 25 | $132.0M | $-2.2M | ||
| Q2 25 | $152.2M | $-7.3M | ||
| Q1 25 | $136.6M | $1.1M | ||
| Q4 24 | $109.7M | $3.1M | ||
| Q3 24 | $120.1M | $-2.0M | ||
| Q2 24 | $156.2M | $2.0M | ||
| Q1 24 | $147.6M | $-2.7M |
毛利率AOSAP
| 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AOSAP
| Q4 25 | 17.9% | -54.0% | ||
| Q3 25 | 18.6% | 1.1% | ||
| Q2 25 | 20.4% | -2.8% | ||
| Q1 25 | 19.1% | 3.9% | ||
| Q4 24 | 10.1% | 5.5% | ||
| Q3 24 | 19.5% | 2.0% | ||
| Q2 24 | 21.9% | 4.7% | ||
| Q1 24 | 22.0% | 0.1% |
净利率AOSAP
| Q4 25 | 13.7% | -55.2% | ||
| Q3 25 | 14.0% | -2.1% | ||
| Q2 25 | 15.0% | -6.7% | ||
| Q1 25 | 14.2% | 1.2% | ||
| Q4 24 | 12.0% | 3.3% | ||
| Q3 24 | 13.3% | -2.1% | ||
| Q2 24 | 15.2% | 1.9% | ||
| Q1 24 | 15.1% | -2.5% |
每股收益（稀释后）AOSAP
| Q4 25 | $0.89 | $-2.87 | ||
| Q3 25 | $0.94 | $-0.11 | ||
| Q2 25 | $1.07 | $-0.36 | ||
| Q1 25 | $0.95 | $0.06 | ||
| Q4 24 | $0.75 | $0.16 | ||
| Q3 24 | $0.82 | $-0.10 | ||
| Q2 24 | $1.06 | $0.10 | ||
| Q1 24 | $1.00 | $-0.14 |
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 | $10.7M |
| 总债务越低越好 | $155.0M | $117.9M |
| 股东权益账面价值 | $1.9B | $32.6M |
| 总资产 | $3.1B | $495.4M |
| 负债/权益比越低杠杆越低 | 0.08× | 3.61× |
8季度趋势，按日历期对齐
现金及短期投资AOSAP
| Q4 25 | $193.2M | $10.7M | ||
| Q3 25 | $172.8M | $15.0M | ||
| Q2 25 | $177.9M | $9.9M | ||
| Q1 25 | $200.2M | $7.1M | ||
| Q4 24 | $276.1M | $15.4M | ||
| Q3 24 | $255.6M | $11.8M | ||
| Q2 24 | $233.3M | $7.9M | ||
| Q1 24 | $303.1M | $10.8M |
总债务AOSAP
| Q4 25 | $155.0M | $117.9M | ||
| Q3 25 | — | $119.0M | ||
| Q2 25 | — | $115.9M | ||
| Q1 25 | — | $115.0M | ||
| Q4 24 | $193.2M | $116.4M | ||
| Q3 24 | — | $116.0M | ||
| Q2 24 | — | $119.4M | ||
| Q1 24 | — | $116.2M |
股东权益AOSAP
| Q4 25 | $1.9B | $32.6M | ||
| Q3 25 | $1.8B | $60.1M | ||
| Q2 25 | $1.8B | $62.7M | ||
| Q1 25 | $1.9B | $64.6M | ||
| Q4 24 | $1.9B | $58.9M | ||
| Q3 24 | $1.9B | $61.3M | ||
| Q2 24 | $1.9B | $58.0M | ||
| Q1 24 | $1.9B | $56.3M |
总资产AOSAP
| Q4 25 | $3.1B | $495.4M | ||
| Q3 25 | $3.2B | $524.4M | ||
| Q2 25 | $3.2B | $537.2M | ||
| Q1 25 | $3.3B | $536.2M | ||
| Q4 24 | $3.2B | $530.9M | ||
| Q3 24 | $3.2B | $547.4M | ||
| Q2 24 | $3.2B | $560.8M | ||
| Q1 24 | $3.2B | $565.8M |
负债/权益比AOSAP
| Q4 25 | 0.08× | 3.61× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | — | 1.85× | ||
| Q1 25 | — | 1.78× | ||
| Q4 24 | 0.10× | 1.98× | ||
| Q3 24 | — | 1.89× | ||
| Q2 24 | — | 2.06× | ||
| Q1 24 | — | 2.06× |
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 | $183.1M | $2.7M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $-64.0K |
| 自由现金流率自由现金流/营收 | 18.1% | -0.1% |
| 资本支出强度资本支出/营收 | 1.9% | 2.7% |
| 现金转化率经营现金流/净利润 | 1.46× | — |
| 过去12个月自由现金流最近4个季度 | $546.0M | $-8.1M |
8季度趋势，按日历期对齐
经营现金流AOSAP
| Q4 25 | $183.1M | $2.7M | ||
| Q3 25 | $255.4M | $6.3M | ||
| Q2 25 | $139.6M | $-2.3M | ||
| Q1 25 | $38.7M | $-5.3M | ||
| Q4 24 | $221.9M | $7.5M | ||
| Q3 24 | $195.9M | $11.4M | ||
| Q2 24 | $57.4M | $-5.3M | ||
| Q1 24 | $106.6M | $4.5M |
自由现金流AOSAP
| Q4 25 | $165.5M | $-64.0K | ||
| Q3 25 | $240.6M | $3.3M | ||
| Q2 25 | $122.5M | $-3.8M | ||
| Q1 25 | $17.4M | $-7.5M | ||
| Q4 24 | $191.3M | $3.7M | ||
| Q3 24 | $163.4M | $8.4M | ||
| Q2 24 | $34.5M | $-8.0M | ||
| Q1 24 | $84.6M | $1.7M |
自由现金流率AOSAP
| Q4 25 | 18.1% | -0.1% | ||
| Q3 25 | 25.5% | 3.2% | ||
| Q2 25 | 12.1% | -3.5% | ||
| Q1 25 | 1.8% | -7.5% | ||
| Q4 24 | 21.0% | 4.0% | ||
| Q3 24 | 18.1% | 9.1% | ||
| Q2 24 | 3.4% | -7.5% | ||
| Q1 24 | 8.6% | 1.5% |
资本支出强度AOSAP
| Q4 25 | 1.9% | 2.7% | ||
| Q3 25 | 1.6% | 2.9% | ||
| Q2 25 | 1.7% | 1.3% | ||
| Q1 25 | 2.2% | 2.2% | ||
| Q4 24 | 3.4% | 4.0% | ||
| Q3 24 | 3.6% | 3.2% | ||
| Q2 24 | 2.2% | 2.5% | ||
| Q1 24 | 2.2% | 2.6% |
现金转化率AOSAP
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | 0.28× | -4.62× | ||
| Q4 24 | 2.02× | 2.40× | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | -2.64× | ||
| 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
AOS
| North America Segment | $713.7M | 78% |
| Rest Of World | $158.3M | 17% |
| Other | $40.5M | 4% |
AP
| Forged And Cast Mill Rolls | $67.0M | 64% |
| Air Handling Systems | $14.3M | 14% |
| Heat Exchange Coils | $13.1M | 13% |
| Centrifugal Pumps | $10.3M | 10% |
| Forged Engineered Products | $4.0M | 4% |
