vs
A.O.史密斯（AOS）与ALLIANCE RESOURCE PARTNERS LP（ARLP）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ALLIANCE RESOURCE PARTNERS LP的1.8倍（$945.6M vs $516.0M），A.O.史密斯净利率更高（12.5% vs 2.1%，领先10.4%），A.O.史密斯同比增速更快（-2.0% vs -3.6%），A.O.史密斯自由现金流更多（$118.9M vs $13.3M），过去两年A.O.史密斯的营收复合增速更高（-3.9% vs -6.7%）
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。
联合资源伙伴有限合伙是北美领先的自然资源企业，核心业务为公用事业及工业客户生产、销售煤炭，同时运营矿权特许经营、油气开采、物流配套等关联业务，服务覆盖美国及周边主要能源消费市场。
AOS vs ARLP — 直观对比
营收规模更大
AOS
是对方的1.8倍
$516.0M
营收增速更快
AOS
高出1.6%
-3.6%
净利率更高
AOS
高出10.4%
2.1%
自由现金流更多
AOS
多$105.6M
$13.3M
两年增速更快
AOS
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $945.6M | $516.0M |
| 净利润 | $118.0M | $10.7M |
| 毛利率 | 38.7% | — |
| 营业利润率 | — | 4.2% |
| 净利率 | 12.5% | 2.1% |
| 营收同比 | -2.0% | -3.6% |
| 净利润同比 | -14.0% | — |
| 每股收益（稀释后） | $0.85 | — |
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AOSARLP
| Q1 26 | $945.6M | $516.0M | ||
| Q4 25 | $912.5M | $535.5M | ||
| Q3 25 | $942.5M | $571.4M | ||
| Q2 25 | $1.0B | $547.5M | ||
| Q1 25 | $963.9M | $540.5M | ||
| Q4 24 | $912.4M | $590.1M | ||
| Q3 24 | $902.6M | $613.6M | ||
| Q2 24 | $1.0B | $593.4M |
净利润AOSARLP
| Q1 26 | $118.0M | $10.7M | ||
| Q4 25 | $125.4M | $82.7M | ||
| Q3 25 | $132.0M | $95.1M | ||
| Q2 25 | $152.2M | $59.4M | ||
| Q1 25 | $136.6M | $74.0M | ||
| Q4 24 | $109.7M | $16.3M | ||
| Q3 24 | $120.1M | $86.3M | ||
| Q2 24 | $156.2M | $100.2M |
毛利率AOSARLP
| Q1 26 | 38.7% | — | ||
| 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% | — |
营业利润率AOSARLP
| Q1 26 | — | 4.2% | ||
| Q4 25 | 17.9% | 18.2% | ||
| Q3 25 | 18.6% | 18.4% | ||
| Q2 25 | 20.4% | 16.2% | ||
| Q1 25 | 19.1% | 17.4% | ||
| Q4 24 | 10.1% | 2.6% | ||
| Q3 24 | 19.5% | 16.5% | ||
| Q2 24 | 21.9% | 19.8% |
净利率AOSARLP
| Q1 26 | 12.5% | 2.1% | ||
| Q4 25 | 13.7% | 15.4% | ||
| Q3 25 | 14.0% | 16.6% | ||
| Q2 25 | 15.0% | 10.9% | ||
| Q1 25 | 14.2% | 13.7% | ||
| Q4 24 | 12.0% | 2.8% | ||
| Q3 24 | 13.3% | 14.1% | ||
| Q2 24 | 15.2% | 16.9% |
每股收益（稀释后）AOSARLP
| Q1 26 | $0.85 | — | ||
| Q4 25 | $0.89 | — | ||
| Q3 25 | $0.94 | — | ||
| Q2 25 | $1.07 | — | ||
| Q1 25 | $0.95 | — | ||
| Q4 24 | $0.75 | — | ||
| Q3 24 | $0.82 | — | ||
| Q2 24 | $1.06 | — |
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 | $28.9M |
| 总债务越低越好 | $574.2M | — |
| 股东权益账面价值 | $1.9B | — |
| 总资产 | $3.7B | $2.9B |
| 负债/权益比越低杠杆越低 | 0.31× | — |
8季度趋势，按日历期对齐
现金及短期投资AOSARLP
| Q1 26 | $185.2M | $28.9M | ||
| Q4 25 | $193.2M | $71.2M | ||
| Q3 25 | $172.8M | $94.5M | ||
| Q2 25 | $177.9M | $55.0M | ||
| Q1 25 | $200.2M | $81.3M | ||
| Q4 24 | $276.1M | $137.0M | ||
| Q3 24 | $255.6M | $195.4M | ||
| Q2 24 | $233.3M | $203.7M |
总债务AOSARLP
| Q1 26 | $574.2M | — | ||
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AOSARLP
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — |
总资产AOSARLP
| Q1 26 | $3.7B | $2.9B | ||
| Q4 25 | $3.1B | $2.9B | ||
| Q3 25 | $3.2B | $2.9B | ||
| Q2 25 | $3.2B | $2.9B | ||
| Q1 25 | $3.3B | $2.9B | ||
| Q4 24 | $3.2B | $2.9B | ||
| Q3 24 | $3.2B | $3.0B | ||
| Q2 24 | $3.2B | $3.1B |
负债/权益比AOSARLP
| Q1 26 | 0.31× | — | ||
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | — | ||
| 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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $118.9M | $13.3M |
| 自由现金流率自由现金流/营收 | 12.6% | 2.6% |
| 资本支出强度资本支出/营收 | 1.1% | 18.5% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $647.5M | $342.2M |
8季度趋势，按日历期对齐
经营现金流AOSARLP
| Q1 26 | — | — | ||
| Q4 25 | $183.1M | $143.9M | ||
| Q3 25 | $255.4M | $209.9M | ||
| Q2 25 | $139.6M | $151.7M | ||
| Q1 25 | $38.7M | $145.7M | ||
| Q4 24 | $221.9M | $168.4M | ||
| Q3 24 | $195.9M | $209.3M | ||
| Q2 24 | $57.4M | $215.8M |
自由现金流AOSARLP
| Q1 26 | $118.9M | $13.3M | ||
| Q4 25 | $165.5M | $99.1M | ||
| Q3 25 | $240.6M | $145.2M | ||
| Q2 25 | $122.5M | $84.7M | ||
| Q1 25 | $17.4M | $58.9M | ||
| Q4 24 | $191.3M | $75.3M | ||
| Q3 24 | $163.4M | $99.0M | ||
| Q2 24 | $34.5M | $114.3M |
自由现金流率AOSARLP
| Q1 26 | 12.6% | 2.6% | ||
| Q4 25 | 18.1% | 18.5% | ||
| Q3 25 | 25.5% | 25.4% | ||
| Q2 25 | 12.1% | 15.5% | ||
| Q1 25 | 1.8% | 10.9% | ||
| Q4 24 | 21.0% | 12.8% | ||
| Q3 24 | 18.1% | 16.1% | ||
| Q2 24 | 3.4% | 19.3% |
资本支出强度AOSARLP
| Q1 26 | 1.1% | 18.5% | ||
| Q4 25 | 1.9% | 8.4% | ||
| Q3 25 | 1.6% | 11.3% | ||
| Q2 25 | 1.7% | 12.2% | ||
| Q1 25 | 2.2% | 16.1% | ||
| Q4 24 | 3.4% | 15.8% | ||
| Q3 24 | 3.6% | 18.0% | ||
| Q2 24 | 2.2% | 17.1% |
现金转化率AOSARLP
| Q1 26 | — | — | ||
| Q4 25 | 1.46× | 1.74× | ||
| Q3 25 | 1.93× | 2.21× | ||
| Q2 25 | 0.92× | 2.55× | ||
| Q1 25 | 0.28× | 1.97× | ||
| Q4 24 | 2.02× | 10.31× | ||
| Q3 24 | 1.63× | 2.43× | ||
| Q2 24 | 0.37× | 2.15× |
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
暂无分部数据
ARLP
| Coal sales | $443.3M | 86% |
| Oil & gas royalties | $41.3M | 8% |
| Other revenues | $22.8M | 4% |
| Transportation revenues | $8.6M | 2% |
| Tons Produced | $8.0M | 2% |
| Mineral Interest Volumes (BOE) | $1.0M | 0% |
