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A.O.史密斯（AOS）与AppLovin Corp（APP）财务数据对比。点击上方公司名可切换其他公司
AppLovin Corp的季度营收约是A.O.史密斯的1.9倍（$1.8B vs $945.6M），AppLovin Corp净利率更高（65.5% vs 12.5%，领先53.0%），AppLovin Corp同比增速更快（59.0% vs -2.0%），AppLovin Corp自由现金流更多（$1.3B vs $118.9M），过去两年AppLovin Corp的营收复合增速更高（30.6% vs -3.9%）
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。
AppLovin是总部位于美国加利福尼亚州帕洛阿尔托的移动科技公司，成立于2012年，旗下拥有SSP MAX、DSP AppDiscovery营销平台及SparkLabs创意工作室，可为开发者提供应用推广、变现、分析及发行服务，同时也对多家移动游戏发行商开展投资。
AOS vs APP — 直观对比
营收规模更大
APP
是对方的1.9倍
$945.6M
营收增速更快
APP
高出61.0%
-2.0%
净利率更高
APP
高出53.0%
12.5%
自由现金流更多
APP
多$1.2B
$118.9M
两年增速更快
APP
近两年复合增速
-3.9%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $945.6M | $1.8B |
| 净利润 | $118.0M | $1.2B |
| 毛利率 | 38.7% | 88.9% |
| 营业利润率 | — | 78.2% |
| 净利率 | 12.5% | 65.5% |
| 营收同比 | -2.0% | 59.0% |
| 净利润同比 | -14.0% | 109.2% |
| 每股收益（稀释后） | $0.85 | $3.56 |
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AOSAPP
| Q1 26 | $945.6M | $1.8B | ||
| Q4 25 | $912.5M | $1.3B | ||
| Q3 25 | $942.5M | $1.4B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $963.9M | $1.5B | ||
| Q4 24 | $912.4M | $1.4B | ||
| Q3 24 | $902.6M | $1.2B | ||
| Q2 24 | $1.0B | $1.1B |
净利润AOSAPP
| Q1 26 | $118.0M | $1.2B | ||
| Q4 25 | $125.4M | $1.1B | ||
| Q3 25 | $132.0M | $835.5M | ||
| Q2 25 | $152.2M | $819.5M | ||
| Q1 25 | $136.6M | $576.4M | ||
| Q4 24 | $109.7M | $599.2M | ||
| Q3 24 | $120.1M | $434.4M | ||
| Q2 24 | $156.2M | $310.0M |
毛利率AOSAPP
| Q1 26 | 38.7% | 88.9% | ||
| Q4 25 | 38.4% | 95.2% | ||
| Q3 25 | 38.7% | 87.6% | ||
| Q2 25 | 39.3% | 87.7% | ||
| Q1 25 | 38.9% | 81.7% | ||
| Q4 24 | 37.1% | 76.7% | ||
| Q3 24 | 37.4% | 77.5% | ||
| Q2 24 | 38.7% | 73.8% |
营业利润率AOSAPP
| Q1 26 | — | 78.2% | ||
| Q4 25 | 17.9% | — | ||
| Q3 25 | 18.6% | 76.8% | ||
| Q2 25 | 20.4% | 76.1% | ||
| Q1 25 | 19.1% | 44.7% | ||
| Q4 24 | 10.1% | 44.3% | ||
| Q3 24 | 19.5% | 44.6% | ||
| Q2 24 | 21.9% | 36.2% |
净利率AOSAPP
| Q1 26 | 12.5% | 65.5% | ||
| Q4 25 | 13.7% | 82.7% | ||
| Q3 25 | 14.0% | 59.5% | ||
| Q2 25 | 15.0% | 65.1% | ||
| Q1 25 | 14.2% | 38.8% | ||
| Q4 24 | 12.0% | 43.6% | ||
| Q3 24 | 13.3% | 36.3% | ||
| Q2 24 | 15.2% | 28.7% |
每股收益（稀释后）AOSAPP
| Q1 26 | $0.85 | $3.56 | ||
| Q4 25 | $0.89 | $3.24 | ||
| Q3 25 | $0.94 | $2.45 | ||
| Q2 25 | $1.07 | $2.39 | ||
| Q1 25 | $0.95 | $1.67 | ||
| Q4 24 | $0.75 | $1.72 | ||
| Q3 24 | $0.82 | $1.25 | ||
| Q2 24 | $1.06 | $0.89 |
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 | $185.2M | $2.8B |
| 总债务越低越好 | $574.2M | $3.5B |
| 股东权益账面价值 | $1.9B | $2.4B |
| 总资产 | $3.7B | $7.7B |
| 负债/权益比越低杠杆越低 | 0.31× | 1.49× |
8季度趋势，按日历期对齐
现金及短期投资AOSAPP
| Q1 26 | $185.2M | $2.8B | ||
| Q4 25 | $193.2M | $2.5B | ||
| Q3 25 | $172.8M | $1.7B | ||
| Q2 25 | $177.9M | $1.2B | ||
| Q1 25 | $200.2M | $551.0M | ||
| Q4 24 | $276.1M | $741.4M | ||
| Q3 24 | $255.6M | $567.6M | ||
| Q2 24 | $233.3M | $460.4M |
总债务AOSAPP
| Q1 26 | $574.2M | $3.5B | ||
| Q4 25 | $155.0M | $3.5B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | $3.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AOSAPP
| Q1 26 | $1.9B | $2.4B | ||
| Q4 25 | $1.9B | $2.1B | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.9B | $575.4M | ||
| Q4 24 | $1.9B | $1.1B | ||
| Q3 24 | $1.9B | $938.2M | ||
| Q2 24 | $1.9B | $814.8M |
总资产AOSAPP
| Q1 26 | $3.7B | $7.7B | ||
| Q4 25 | $3.1B | $7.3B | ||
| Q3 25 | $3.2B | $6.3B | ||
| Q2 25 | $3.2B | $6.0B | ||
| Q1 25 | $3.3B | $5.7B | ||
| Q4 24 | $3.2B | $5.9B | ||
| Q3 24 | $3.2B | $5.4B | ||
| Q2 24 | $3.2B | $5.3B |
负债/权益比AOSAPP
| Q1 26 | 0.31× | 1.49× | ||
| Q4 25 | 0.08× | 1.65× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | 3.22× | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $1.3B |
| 自由现金流经营现金流 - 资本支出 | $118.9M | $1.3B |
| 自由现金流率自由现金流/营收 | 12.6% | 69.8% |
| 资本支出强度资本支出/营收 | 1.1% | — |
| 现金转化率经营现金流/净利润 | — | 1.07× |
| 过去12个月自由现金流最近4个季度 | $647.5M | — |
8季度趋势，按日历期对齐
经营现金流AOSAPP
| Q1 26 | — | $1.3B | ||
| Q4 25 | $183.1M | $1.3B | ||
| Q3 25 | $255.4M | $1.1B | ||
| Q2 25 | $139.6M | $772.2M | ||
| Q1 25 | $38.7M | $831.7M | ||
| Q4 24 | $221.9M | $701.0M | ||
| Q3 24 | $195.9M | $550.7M | ||
| Q2 24 | $57.4M | $454.5M |
自由现金流AOSAPP
| Q1 26 | $118.9M | $1.3B | ||
| Q4 25 | $165.5M | — | ||
| Q3 25 | $240.6M | — | ||
| Q2 25 | $122.5M | — | ||
| Q1 25 | $17.4M | — | ||
| Q4 24 | $191.3M | — | ||
| Q3 24 | $163.4M | — | ||
| Q2 24 | $34.5M | — |
自由现金流率AOSAPP
| Q1 26 | 12.6% | 69.8% | ||
| Q4 25 | 18.1% | — | ||
| Q3 25 | 25.5% | — | ||
| Q2 25 | 12.1% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 21.0% | — | ||
| Q3 24 | 18.1% | — | ||
| Q2 24 | 3.4% | — |
资本支出强度AOSAPP
| Q1 26 | 1.1% | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 2.2% | — |
现金转化率AOSAPP
| Q1 26 | — | 1.07× | ||
| Q4 25 | 1.46× | 1.19× | ||
| Q3 25 | 1.93× | 1.26× | ||
| Q2 25 | 0.92× | 0.94× | ||
| Q1 25 | 0.28× | 1.44× | ||
| Q4 24 | 2.02× | 1.17× | ||
| Q3 24 | 1.63× | 1.27× | ||
| Q2 24 | 0.37× | 1.47× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
