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A.O.史密斯（AOS）与BWX Technologies, Inc.（BWXT）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BWX Technologies, Inc.的1.0倍（$912.5M vs $885.8M）。A.O.史密斯净利率更高（13.7% vs 10.5%，领先3.2%）。BWX Technologies, Inc.同比增速更快（18.7% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $56.8M）。过去两年BWX Technologies, Inc.的营收复合增速更高（21.1% 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。
BWX Technologies Inc.（简称BWXT）总部位于美国弗吉尼亚州林奇堡，是一家面向全球供应核部件与核燃料的专业企业，产品广泛应用于核电及核工业相关领域，服务覆盖全球多个国家和地区的客户。
AOS vs BWXT — 直观对比
营收规模更大
AOS
是对方的1.0倍
$885.8M
营收增速更快
BWXT
高出18.7%
0.0%
净利率更高
AOS
高出3.2%
10.5%
自由现金流更多
AOS
多$108.7M
$56.8M
两年增速更快
BWXT
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $885.8M |
| 净利润 | $125.4M | $93.0M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 17.9% | 10.4% |
| 净利率 | 13.7% | 10.5% |
| 营收同比 | 0.0% | 18.7% |
| 净利润同比 | 14.3% | 30.9% |
| 每股收益（稀释后） | $0.89 | $1.02 |
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AOSBWXT
| Q4 25 | $912.5M | $885.8M | ||
| Q3 25 | $942.5M | $866.3M | ||
| Q2 25 | $1.0B | $764.0M | ||
| Q1 25 | $963.9M | $682.3M | ||
| Q4 24 | $912.4M | $746.3M | ||
| Q3 24 | $902.6M | $672.0M | ||
| Q2 24 | $1.0B | $681.5M | ||
| Q1 24 | $978.8M | $604.0M |
净利润AOSBWXT
| Q4 25 | $125.4M | $93.0M | ||
| Q3 25 | $132.0M | $82.1M | ||
| Q2 25 | $152.2M | $78.4M | ||
| Q1 25 | $136.6M | $75.5M | ||
| Q4 24 | $109.7M | $71.0M | ||
| Q3 24 | $120.1M | $69.5M | ||
| Q2 24 | $156.2M | $73.0M | ||
| Q1 24 | $147.6M | $68.5M |
毛利率AOSBWXT
| Q4 25 | 38.4% | — | ||
| Q3 25 | 38.7% | 21.8% | ||
| Q2 25 | 39.3% | 25.1% | ||
| Q1 25 | 38.9% | 24.2% | ||
| Q4 24 | 37.1% | — | ||
| Q3 24 | 37.4% | 24.4% | ||
| Q2 24 | 38.7% | 24.7% | ||
| Q1 24 | 39.3% | 24.6% |
营业利润率AOSBWXT
| Q4 25 | 17.9% | 10.4% | ||
| Q3 25 | 18.6% | 13.1% | ||
| Q2 25 | 20.4% | 13.4% | ||
| Q1 25 | 19.1% | 14.2% | ||
| Q4 24 | 10.1% | 12.4% | ||
| Q3 24 | 19.5% | 14.4% | ||
| Q2 24 | 21.9% | 14.5% | ||
| Q1 24 | 22.0% | 15.4% |
净利率AOSBWXT
| Q4 25 | 13.7% | 10.5% | ||
| Q3 25 | 14.0% | 9.5% | ||
| Q2 25 | 15.0% | 10.3% | ||
| Q1 25 | 14.2% | 11.1% | ||
| Q4 24 | 12.0% | 9.5% | ||
| Q3 24 | 13.3% | 10.3% | ||
| Q2 24 | 15.2% | 10.7% | ||
| Q1 24 | 15.1% | 11.3% |
每股收益（稀释后）AOSBWXT
| Q4 25 | $0.89 | $1.02 | ||
| Q3 25 | $0.94 | $0.89 | ||
| Q2 25 | $1.07 | $0.85 | ||
| Q1 25 | $0.95 | $0.82 | ||
| Q4 24 | $0.75 | $0.77 | ||
| Q3 24 | $0.82 | $0.76 | ||
| Q2 24 | $1.06 | $0.79 | ||
| Q1 24 | $1.00 | $0.75 |
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 | $499.8M |
| 总债务越低越好 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $1.2B |
| 总资产 | $3.1B | $4.3B |
| 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AOSBWXT
| Q4 25 | $193.2M | $499.8M | ||
| Q3 25 | $172.8M | $79.6M | ||
| Q2 25 | $177.9M | $37.0M | ||
| Q1 25 | $200.2M | $55.4M | ||
| Q4 24 | $276.1M | $74.1M | ||
| Q3 24 | $255.6M | $35.5M | ||
| Q2 24 | $233.3M | $48.3M | ||
| Q1 24 | $303.1M | $45.9M |
总债务AOSBWXT
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSBWXT
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $1.8B | $1.2B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $1.9B | $1.1B | ||
| Q3 24 | $1.9B | $1.1B | ||
| Q2 24 | $1.9B | $998.5M | ||
| Q1 24 | $1.9B | $946.2M |
总资产AOSBWXT
| Q4 25 | $3.1B | $4.3B | ||
| Q3 25 | $3.2B | $3.8B | ||
| Q2 25 | $3.2B | $3.7B | ||
| Q1 25 | $3.3B | $3.1B | ||
| Q4 24 | $3.2B | $2.9B | ||
| Q3 24 | $3.2B | $2.9B | ||
| Q2 24 | $3.2B | $2.8B | ||
| Q1 24 | $3.2B | $2.8B |
负债/权益比AOSBWXT
| 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 | $127.0M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $56.8M |
| 自由现金流率自由现金流/营收 | 18.1% | 6.4% |
| 资本支出强度资本支出/营收 | 1.9% | 7.9% |
| 现金转化率经营现金流/净利润 | 1.46× | 1.37× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $295.3M |
8季度趋势，按日历期对齐
经营现金流AOSBWXT
| Q4 25 | $183.1M | $127.0M | ||
| Q3 25 | $255.4M | $143.2M | ||
| Q2 25 | $139.6M | $159.0M | ||
| Q1 25 | $38.7M | $50.6M | ||
| Q4 24 | $221.9M | $276.9M | ||
| Q3 24 | $195.9M | $32.6M | ||
| Q2 24 | $57.4M | $65.9M | ||
| Q1 24 | $106.6M | $33.0M |
自由现金流AOSBWXT
| Q4 25 | $165.5M | $56.8M | ||
| Q3 25 | $240.6M | $94.9M | ||
| Q2 25 | $122.5M | $126.3M | ||
| Q1 25 | $17.4M | $17.3M | ||
| Q4 24 | $191.3M | $224.4M | ||
| Q3 24 | $163.4M | $-7.7M | ||
| Q2 24 | $34.5M | $35.5M | ||
| Q1 24 | $84.6M | $2.6M |
自由现金流率AOSBWXT
| Q4 25 | 18.1% | 6.4% | ||
| Q3 25 | 25.5% | 11.0% | ||
| Q2 25 | 12.1% | 16.5% | ||
| Q1 25 | 1.8% | 2.5% | ||
| Q4 24 | 21.0% | 30.1% | ||
| Q3 24 | 18.1% | -1.1% | ||
| Q2 24 | 3.4% | 5.2% | ||
| Q1 24 | 8.6% | 0.4% |
资本支出强度AOSBWXT
| Q4 25 | 1.9% | 7.9% | ||
| Q3 25 | 1.6% | 5.6% | ||
| Q2 25 | 1.7% | 4.3% | ||
| Q1 25 | 2.2% | 4.9% | ||
| Q4 24 | 3.4% | 7.0% | ||
| Q3 24 | 3.6% | 6.0% | ||
| Q2 24 | 2.2% | 4.5% | ||
| Q1 24 | 2.2% | 5.0% |
现金转化率AOSBWXT
| Q4 25 | 1.46× | 1.37× | ||
| Q3 25 | 1.93× | 1.74× | ||
| Q2 25 | 0.92× | 2.03× | ||
| Q1 25 | 0.28× | 0.67× | ||
| Q4 24 | 2.02× | 3.90× | ||
| Q3 24 | 1.63× | 0.47× | ||
| Q2 24 | 0.37× | 0.90× | ||
| Q1 24 | 0.72× | 0.48× |
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% |
BWXT
| Nuclear Component Program | $436.4M | 49% |
| Nuclear Manufacturing | $134.8M | 15% |
| Cost Plus Fee | $116.1M | 13% |
| Uranium And Nuclear Services | $103.8M | 12% |
| Commercial Operations | $49.0M | 6% |
| Commercial Operations Segment | $33.7M | 4% |
| Transferred At Point In Time | $1.3M | 0% |
