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A.O.史密斯（AOS）与ASTEC INDUSTRIES INC（ASTE）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ASTEC INDUSTRIES INC的2.3倍（$912.5M vs $400.6M）。A.O.史密斯净利率更高（13.7% vs 3.0%，领先10.7%）。ASTEC INDUSTRIES INC同比增速更快（11.6% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $7.4M）。过去两年ASTEC INDUSTRIES INC的营收复合增速更高（13.8% 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。
ASTEC是一家国际电子企业，原总部设于香港，主营电源供应装置与电力转换硬件产品，是全球计算机系统电源的主要供应商之一，曾一度是全球规模最大的电源生产商。
AOS vs ASTE — 直观对比
营收规模更大
AOS
是对方的2.3倍
$400.6M
营收增速更快
ASTE
高出11.6%
0.0%
净利率更高
AOS
高出10.7%
3.0%
自由现金流更多
AOS
多$158.1M
$7.4M
两年增速更快
ASTE
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $400.6M |
| 净利润 | $125.4M | $12.0M |
| 毛利率 | 38.4% | 27.3% |
| 营业利润率 | 17.9% | 5.7% |
| 净利率 | 13.7% | 3.0% |
| 营收同比 | 0.0% | 11.6% |
| 净利润同比 | 14.3% | -43.1% |
| 每股收益（稀释后） | $0.89 | $0.52 |
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AOSASTE
| Q4 25 | $912.5M | $400.6M | ||
| Q3 25 | $942.5M | $350.1M | ||
| Q2 25 | $1.0B | $330.3M | ||
| Q1 25 | $963.9M | $329.4M | ||
| Q4 24 | $912.4M | $359.0M | ||
| Q3 24 | $902.6M | $291.4M | ||
| Q2 24 | $1.0B | $345.5M | ||
| Q1 24 | $978.8M | $309.2M |
净利润AOSASTE
| Q4 25 | $125.4M | $12.0M | ||
| Q3 25 | $132.0M | $-4.2M | ||
| Q2 25 | $152.2M | $16.7M | ||
| Q1 25 | $136.6M | $14.3M | ||
| Q4 24 | $109.7M | $21.1M | ||
| Q3 24 | $120.1M | $-6.2M | ||
| Q2 24 | $156.2M | $-14.0M | ||
| Q1 24 | $147.6M | $3.4M |
毛利率AOSASTE
| Q4 25 | 38.4% | 27.3% | ||
| Q3 25 | 38.7% | 24.1% | ||
| Q2 25 | 39.3% | 26.7% | ||
| Q1 25 | 38.9% | 28.1% | ||
| Q4 24 | 37.1% | 28.7% | ||
| Q3 24 | 37.4% | 22.9% | ||
| Q2 24 | 38.7% | 23.5% | ||
| Q1 24 | 39.3% | 24.9% |
营业利润率AOSASTE
| Q4 25 | 17.9% | 5.7% | ||
| Q3 25 | 18.6% | 0.3% | ||
| Q2 25 | 20.4% | 6.5% | ||
| Q1 25 | 19.1% | 6.2% | ||
| Q4 24 | 10.1% | 9.7% | ||
| Q3 24 | 19.5% | -2.5% | ||
| Q2 24 | 21.9% | -3.1% | ||
| Q1 24 | 22.0% | 2.0% |
净利率AOSASTE
| Q4 25 | 13.7% | 3.0% | ||
| Q3 25 | 14.0% | -1.2% | ||
| Q2 25 | 15.0% | 5.1% | ||
| Q1 25 | 14.2% | 4.3% | ||
| Q4 24 | 12.0% | 5.9% | ||
| Q3 24 | 13.3% | -2.1% | ||
| Q2 24 | 15.2% | -4.1% | ||
| Q1 24 | 15.1% | 1.1% |
每股收益（稀释后）AOSASTE
| Q4 25 | $0.89 | $0.52 | ||
| Q3 25 | $0.94 | $-0.18 | ||
| Q2 25 | $1.07 | $0.72 | ||
| Q1 25 | $0.95 | $0.62 | ||
| Q4 24 | $0.75 | $0.92 | ||
| Q3 24 | $0.82 | $-0.27 | ||
| Q2 24 | $1.06 | $-0.61 | ||
| Q1 24 | $1.00 | $0.15 |
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 | $74.1M |
| 总债务越低越好 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $681.7M |
| 总资产 | $3.1B | $1.4B |
| 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AOSASTE
| Q4 25 | $193.2M | $74.1M | ||
| Q3 25 | $172.8M | $71.8M | ||
| Q2 25 | $177.9M | $91.6M | ||
| Q1 25 | $200.2M | $95.4M | ||
| Q4 24 | $276.1M | $93.8M | ||
| Q3 24 | $255.6M | $58.9M | ||
| Q2 24 | $233.3M | $68.4M | ||
| Q1 24 | $303.1M | $63.8M |
总债务AOSASTE
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSASTE
| Q4 25 | $1.9B | $681.7M | ||
| Q3 25 | $1.8B | $668.9M | ||
| Q2 25 | $1.8B | $674.9M | ||
| Q1 25 | $1.9B | $653.2M | ||
| Q4 24 | $1.9B | $637.8M | ||
| Q3 24 | $1.9B | $631.4M | ||
| Q2 24 | $1.9B | $633.3M | ||
| Q1 24 | $1.9B | $650.3M |
总资产AOSASTE
| Q4 25 | $3.1B | $1.4B | ||
| Q3 25 | $3.2B | $1.3B | ||
| Q2 25 | $3.2B | $1.1B | ||
| Q1 25 | $3.3B | $1.1B | ||
| Q4 24 | $3.2B | $1.0B | ||
| Q3 24 | $3.2B | $1.1B | ||
| Q2 24 | $3.2B | $1.1B | ||
| Q1 24 | $3.2B | $1.1B |
负债/权益比AOSASTE
| 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 | $183.1M | $36.1M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $7.4M |
| 自由现金流率自由现金流/营收 | 18.1% | 1.8% |
| 资本支出强度资本支出/营收 | 1.9% | 7.2% |
| 现金转化率经营现金流/净利润 | 1.46× | 3.01× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $20.7M |
8季度趋势，按日历期对齐
经营现金流AOSASTE
| Q4 25 | $183.1M | $36.1M | ||
| Q3 25 | $255.4M | $-8.1M | ||
| Q2 25 | $139.6M | $12.9M | ||
| Q1 25 | $38.7M | $20.5M | ||
| Q4 24 | $221.9M | $36.6M | ||
| Q3 24 | $195.9M | $22.5M | ||
| Q2 24 | $57.4M | $10.9M | ||
| Q1 24 | $106.6M | $-47.0M |
自由现金流AOSASTE
| Q4 25 | $165.5M | $7.4M | ||
| Q3 25 | $240.6M | $-12.3M | ||
| Q2 25 | $122.5M | $9.0M | ||
| Q1 25 | $17.4M | $16.6M | ||
| Q4 24 | $191.3M | $32.1M | ||
| Q3 24 | $163.4M | $19.9M | ||
| Q2 24 | $34.5M | $3.3M | ||
| Q1 24 | $84.6M | $-52.8M |
自由现金流率AOSASTE
| Q4 25 | 18.1% | 1.8% | ||
| Q3 25 | 25.5% | -3.5% | ||
| Q2 25 | 12.1% | 2.7% | ||
| Q1 25 | 1.8% | 5.0% | ||
| Q4 24 | 21.0% | 8.9% | ||
| Q3 24 | 18.1% | 6.8% | ||
| Q2 24 | 3.4% | 1.0% | ||
| Q1 24 | 8.6% | -17.1% |
资本支出强度AOSASTE
| Q4 25 | 1.9% | 7.2% | ||
| Q3 25 | 1.6% | 1.2% | ||
| Q2 25 | 1.7% | 1.2% | ||
| Q1 25 | 2.2% | 1.2% | ||
| Q4 24 | 3.4% | 1.3% | ||
| Q3 24 | 3.6% | 0.9% | ||
| Q2 24 | 2.2% | 2.2% | ||
| Q1 24 | 2.2% | 1.9% |
现金转化率AOSASTE
| Q4 25 | 1.46× | 3.01× | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.92× | 0.77× | ||
| Q1 25 | 0.28× | 1.43× | ||
| Q4 24 | 2.02× | 1.73× | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | — | ||
| Q1 24 | 0.72× | -13.82× |
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% |
ASTE
| Infrastructure Group | $208.7M | 52% |
| Material Solutions | $105.3M | 26% |
| Parts And Component Sales | $58.3M | 15% |
| Other | $15.3M | 4% |
| Service And Equipment Installation Revenue | $6.9M | 2% |
| Cargo And Freight | $6.1M | 2% |
