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A.O.史密斯（AOS）与BADGER METER INC（BMI）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BADGER METER INC的3.9倍（$912.5M vs $234.1M）。BADGER METER INC净利率更高（14.3% vs 13.7%，领先0.6%）。BADGER METER INC同比增速更快（14.1% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $50.8M）。过去两年BADGER METER INC的营收复合增速更高（9.2% 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。
Badger Meter Inc是全球领先的流量测量与控制解决方案供应商，主要服务水务企业、工业、商业及住宅客户群体，核心产品包括智能水表、物联网使用监测系统及配套软件，可帮助客户追踪资源消耗、减少浪费、提升运营效率，核心市场覆盖北美、欧洲及亚太地区。
AOS vs BMI — 直观对比
营收规模更大
AOS
是对方的3.9倍
$234.1M
营收增速更快
BMI
高出14.1%
0.0%
净利率更高
BMI
高出0.6%
13.7%
自由现金流更多
AOS
多$114.7M
$50.8M
两年增速更快
BMI
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $234.1M |
| 净利润 | $125.4M | $33.6M |
| 毛利率 | 38.4% | 39.7% |
| 营业利润率 | 17.9% | 18.4% |
| 净利率 | 13.7% | 14.3% |
| 营收同比 | 0.0% | 14.1% |
| 净利润同比 | 14.3% | 9.3% |
| 每股收益（稀释后） | $0.89 | $1.13 |
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AOSBMI
| Q4 25 | $912.5M | $234.1M | ||
| Q3 25 | $942.5M | $222.2M | ||
| Q2 25 | $1.0B | $238.1M | ||
| Q1 25 | $963.9M | $222.2M | ||
| Q4 24 | $912.4M | $205.2M | ||
| Q3 24 | $902.6M | $208.4M | ||
| Q2 24 | $1.0B | $216.7M | ||
| Q1 24 | $978.8M | $196.3M |
净利润AOSBMI
| Q4 25 | $125.4M | $33.6M | ||
| Q3 25 | $132.0M | $35.1M | ||
| Q2 25 | $152.2M | $34.6M | ||
| Q1 25 | $136.6M | $38.4M | ||
| Q4 24 | $109.7M | $30.7M | ||
| Q3 24 | $120.1M | $32.0M | ||
| Q2 24 | $156.2M | $33.1M | ||
| Q1 24 | $147.6M | $29.1M |
毛利率AOSBMI
| Q4 25 | 38.4% | 39.7% | ||
| Q3 25 | 38.7% | 43.1% | ||
| Q2 25 | 39.3% | 41.1% | ||
| Q1 25 | 38.9% | 42.9% | ||
| Q4 24 | 37.1% | 40.3% | ||
| Q3 24 | 37.4% | 40.2% | ||
| Q2 24 | 38.7% | 39.4% | ||
| Q1 24 | 39.3% | 39.3% |
营业利润率AOSBMI
| Q4 25 | 17.9% | 18.4% | ||
| Q3 25 | 18.6% | 20.7% | ||
| Q2 25 | 20.4% | 18.8% | ||
| Q1 25 | 19.1% | 22.2% | ||
| Q4 24 | 10.1% | 19.1% | ||
| Q3 24 | 19.5% | 19.5% | ||
| Q2 24 | 21.9% | 19.2% | ||
| Q1 24 | 22.0% | 18.6% |
净利率AOSBMI
| Q4 25 | 13.7% | 14.3% | ||
| Q3 25 | 14.0% | 15.8% | ||
| Q2 25 | 15.0% | 14.5% | ||
| Q1 25 | 14.2% | 17.3% | ||
| Q4 24 | 12.0% | 15.0% | ||
| Q3 24 | 13.3% | 15.4% | ||
| Q2 24 | 15.2% | 15.3% | ||
| Q1 24 | 15.1% | 14.8% |
每股收益（稀释后）AOSBMI
| Q4 25 | $0.89 | $1.13 | ||
| Q3 25 | $0.94 | $1.19 | ||
| Q2 25 | $1.07 | $1.17 | ||
| Q1 25 | $0.95 | $1.30 | ||
| Q4 24 | $0.75 | $1.04 | ||
| Q3 24 | $0.82 | $1.08 | ||
| Q2 24 | $1.06 | $1.12 | ||
| Q1 24 | $1.00 | $0.99 |
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 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $713.3M |
| 总资产 | $3.1B | $973.6M |
| 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AOSBMI
| 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AOSBMI
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSBMI
| Q4 25 | $1.9B | $713.3M | ||
| Q3 25 | $1.8B | $702.5M | ||
| Q2 25 | $1.8B | $677.6M | ||
| Q1 25 | $1.9B | $641.7M | ||
| Q4 24 | $1.9B | $606.2M | ||
| Q3 24 | $1.9B | $591.2M | ||
| Q2 24 | $1.9B | $563.1M | ||
| Q1 24 | $1.9B | $535.6M |
总资产AOSBMI
| Q4 25 | $3.1B | $973.6M | ||
| Q3 25 | $3.2B | $978.3M | ||
| Q2 25 | $3.2B | $936.4M | ||
| Q1 25 | $3.3B | $899.6M | ||
| Q4 24 | $3.2B | $816.4M | ||
| Q3 24 | $3.2B | $802.9M | ||
| Q2 24 | $3.2B | $781.3M | ||
| Q1 24 | $3.2B | $743.5M |
负债/权益比AOSBMI
| 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 | $54.8M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $50.8M |
| 自由现金流率自由现金流/营收 | 18.1% | 21.7% |
| 资本支出强度资本支出/营收 | 1.9% | 1.7% |
| 现金转化率经营现金流/净利润 | 1.46× | 1.63× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $169.7M |
8季度趋势，按日历期对齐
经营现金流AOSBMI
| Q4 25 | $183.1M | $54.8M | ||
| Q3 25 | $255.4M | $51.3M | ||
| Q2 25 | $139.6M | $44.6M | ||
| Q1 25 | $38.7M | $33.0M | ||
| Q4 24 | $221.9M | $52.1M | ||
| Q3 24 | $195.9M | $45.1M | ||
| Q2 24 | $57.4M | $36.4M | ||
| Q1 24 | $106.6M | $21.5M |
自由现金流AOSBMI
| Q4 25 | $165.5M | $50.8M | ||
| Q3 25 | $240.6M | $48.2M | ||
| Q2 25 | $122.5M | $40.6M | ||
| Q1 25 | $17.4M | $30.1M | ||
| Q4 24 | $191.3M | $47.4M | ||
| Q3 24 | $163.4M | $42.0M | ||
| Q2 24 | $34.5M | $34.1M | ||
| Q1 24 | $84.6M | $18.8M |
自由现金流率AOSBMI
| Q4 25 | 18.1% | 21.7% | ||
| Q3 25 | 25.5% | 21.7% | ||
| Q2 25 | 12.1% | 17.1% | ||
| Q1 25 | 1.8% | 13.5% | ||
| Q4 24 | 21.0% | 23.1% | ||
| Q3 24 | 18.1% | 20.1% | ||
| Q2 24 | 3.4% | 15.7% | ||
| Q1 24 | 8.6% | 9.6% |
资本支出强度AOSBMI
| Q4 25 | 1.9% | 1.7% | ||
| Q3 25 | 1.6% | 1.4% | ||
| Q2 25 | 1.7% | 1.7% | ||
| Q1 25 | 2.2% | 1.3% | ||
| Q4 24 | 3.4% | 2.3% | ||
| Q3 24 | 3.6% | 1.5% | ||
| Q2 24 | 2.2% | 1.1% | ||
| Q1 24 | 2.2% | 1.4% |
现金转化率AOSBMI
| Q4 25 | 1.46× | 1.63× | ||
| Q3 25 | 1.93× | 1.46× | ||
| Q2 25 | 0.92× | 1.29× | ||
| Q1 25 | 0.28× | 0.86× | ||
| Q4 24 | 2.02× | 1.70× | ||
| Q3 24 | 1.63× | 1.41× | ||
| Q2 24 | 0.37× | 1.10× | ||
| Q1 24 | 0.72× | 0.74× |
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% |
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
