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A.O.史密斯（AOS）与COHERENT CORP.（COHR）财务数据对比。点击上方公司名可切换其他公司
COHERENT CORP.的季度营收约是A.O.史密斯的1.8倍（$1.7B vs $912.5M）。A.O.史密斯净利率更高（13.7% vs 8.7%，领先5.0%）。COHERENT CORP.同比增速更快（17.5% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $-95.7M）。过去两年COHERENT CORP.的营收复合增速更高（18.1% 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。
Coherent Corp.是美国专业光学材料与半导体生产商，2023年全球员工规模达26622人。2022年原II-VI公司收购激光制造商Coherent, Inc.后更名为现名，产品广泛应用于通信、工业、医疗等众多领域。
AOS vs COHR — 直观对比
营收规模更大
COHR
是对方的1.8倍
$912.5M
营收增速更快
COHR
高出17.5%
0.0%
净利率更高
AOS
高出5.0%
8.7%
自由现金流更多
AOS
多$261.2M
$-95.7M
两年增速更快
COHR
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $1.7B |
| 净利润 | $125.4M | $146.7M |
| 毛利率 | 38.4% | 36.9% |
| 营业利润率 | 17.9% | 10.0% |
| 净利率 | 13.7% | 8.7% |
| 营收同比 | 0.0% | 17.5% |
| 净利润同比 | 14.3% | 41.9% |
| 每股收益（稀释后） | $0.89 | $0.76 |
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AOSCOHR
| Q4 25 | $912.5M | $1.7B | ||
| Q3 25 | $942.5M | $1.6B | ||
| Q2 25 | $1.0B | $1.5B | ||
| Q1 25 | $963.9M | $1.5B | ||
| Q4 24 | $912.4M | $1.4B | ||
| Q3 24 | $902.6M | $1.3B | ||
| Q2 24 | $1.0B | $1.3B | ||
| Q1 24 | $978.8M | $1.2B |
净利润AOSCOHR
| Q4 25 | $125.4M | $146.7M | ||
| Q3 25 | $132.0M | $226.3M | ||
| Q2 25 | $152.2M | $-95.6M | ||
| Q1 25 | $136.6M | $15.7M | ||
| Q4 24 | $109.7M | $103.4M | ||
| Q3 24 | $120.1M | $25.9M | ||
| Q2 24 | $156.2M | $-48.4M | ||
| Q1 24 | $147.6M | $-13.2M |
毛利率AOSCOHR
| Q4 25 | 38.4% | 36.9% | ||
| Q3 25 | 38.7% | 36.6% | ||
| Q2 25 | 39.3% | 35.7% | ||
| Q1 25 | 38.9% | 35.2% | ||
| Q4 24 | 37.1% | 35.5% | ||
| Q3 24 | 37.4% | 34.1% | ||
| Q2 24 | 38.7% | 32.9% | ||
| Q1 24 | 39.3% | 30.3% |
营业利润率AOSCOHR
| Q4 25 | 17.9% | 10.0% | ||
| Q3 25 | 18.6% | 13.7% | ||
| Q2 25 | 20.4% | -4.1% | ||
| Q1 25 | 19.1% | 0.7% | ||
| Q4 24 | 10.1% | 9.0% | ||
| Q3 24 | 19.5% | 1.4% | ||
| Q2 24 | 21.9% | 4.8% | ||
| Q1 24 | 22.0% | 1.8% |
净利率AOSCOHR
| Q4 25 | 13.7% | 8.7% | ||
| Q3 25 | 14.0% | 14.3% | ||
| Q2 25 | 15.0% | -6.3% | ||
| Q1 25 | 14.2% | 1.0% | ||
| Q4 24 | 12.0% | 7.2% | ||
| Q3 24 | 13.3% | 1.9% | ||
| Q2 24 | 15.2% | -3.7% | ||
| Q1 24 | 15.1% | -1.1% |
每股收益（稀释后）AOSCOHR
| Q4 25 | $0.89 | $0.76 | ||
| Q3 25 | $0.94 | $1.19 | ||
| Q2 25 | $1.07 | $-0.81 | ||
| Q1 25 | $0.95 | $-0.11 | ||
| Q4 24 | $0.75 | $0.44 | ||
| Q3 24 | $0.82 | $-0.04 | ||
| Q2 24 | $1.06 | $-0.52 | ||
| Q1 24 | $1.00 | $-0.29 |
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 | $863.7M |
| 总债务越低越好 | $155.0M | $3.4B |
| 股东权益账面价值 | $1.9B | $8.5B |
| 总资产 | $3.1B | $15.1B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.39× |
8季度趋势，按日历期对齐
现金及短期投资AOSCOHR
| Q4 25 | $193.2M | $863.7M | ||
| Q3 25 | $172.8M | $852.8M | ||
| Q2 25 | $177.9M | $909.2M | ||
| Q1 25 | $200.2M | $890.3M | ||
| Q4 24 | $276.1M | $917.8M | ||
| Q3 24 | $255.6M | $1.0B | ||
| Q2 24 | $233.3M | $926.0M | ||
| Q1 24 | $303.1M | $898.6M |
总债务AOSCOHR
| Q4 25 | $155.0M | $3.4B | ||
| Q3 25 | — | $3.3B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | $193.2M | $3.9B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | — | $4.2B |
股东权益AOSCOHR
| Q4 25 | $1.9B | $8.5B | ||
| Q3 25 | $1.8B | $5.8B | ||
| Q2 25 | $1.8B | $5.6B | ||
| Q1 25 | $1.9B | $5.4B | ||
| Q4 24 | $1.9B | $5.2B | ||
| Q3 24 | $1.9B | $5.5B | ||
| Q2 24 | $1.9B | $5.2B | ||
| Q1 24 | $1.9B | $5.3B |
总资产AOSCOHR
| Q4 25 | $3.1B | $15.1B | ||
| Q3 25 | $3.2B | $14.7B | ||
| Q2 25 | $3.2B | $14.9B | ||
| Q1 25 | $3.3B | $14.4B | ||
| Q4 24 | $3.2B | $14.2B | ||
| Q3 24 | $3.2B | $14.7B | ||
| Q2 24 | $3.2B | $14.5B | ||
| Q1 24 | $3.2B | $14.5B |
负债/权益比AOSCOHR
| Q4 25 | 0.08× | 0.39× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | 0.10× | 0.75× | ||
| Q3 24 | — | 0.73× | ||
| Q2 24 | — | 0.79× | ||
| Q1 24 | — | 0.78× |
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 | $57.9M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $-95.7M |
| 自由现金流率自由现金流/营收 | 18.1% | -5.7% |
| 资本支出强度资本支出/营收 | 1.9% | 9.1% |
| 现金转化率经营现金流/净利润 | 1.46× | 0.39× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $-103.6M |
8季度趋势，按日历期对齐
经营现金流AOSCOHR
| Q4 25 | $183.1M | $57.9M | ||
| Q3 25 | $255.4M | $46.0M | ||
| Q2 25 | $139.6M | $130.3M | ||
| Q1 25 | $38.7M | $163.0M | ||
| Q4 24 | $221.9M | $187.4M | ||
| Q3 24 | $195.9M | $153.0M | ||
| Q2 24 | $57.4M | $162.3M | ||
| Q1 24 | $106.6M | $117.4M |
自由现金流AOSCOHR
| Q4 25 | $165.5M | $-95.7M | ||
| Q3 25 | $240.6M | $-58.0M | ||
| Q2 25 | $122.5M | $-1.1M | ||
| Q1 25 | $17.4M | $51.1M | ||
| Q4 24 | $191.3M | $81.7M | ||
| Q3 24 | $163.4M | $61.0M | ||
| Q2 24 | $34.5M | $62.4M | ||
| Q1 24 | $84.6M | $24.2M |
自由现金流率AOSCOHR
| Q4 25 | 18.1% | -5.7% | ||
| Q3 25 | 25.5% | -3.7% | ||
| Q2 25 | 12.1% | -0.1% | ||
| Q1 25 | 1.8% | 3.4% | ||
| Q4 24 | 21.0% | 5.7% | ||
| Q3 24 | 18.1% | 4.5% | ||
| Q2 24 | 3.4% | 4.7% | ||
| Q1 24 | 8.6% | 2.0% |
资本支出强度AOSCOHR
| Q4 25 | 1.9% | 9.1% | ||
| Q3 25 | 1.6% | 6.6% | ||
| Q2 25 | 1.7% | 8.6% | ||
| Q1 25 | 2.2% | 7.5% | ||
| Q4 24 | 3.4% | 7.4% | ||
| Q3 24 | 3.6% | 6.8% | ||
| Q2 24 | 2.2% | 7.6% | ||
| Q1 24 | 2.2% | 7.7% |
现金转化率AOSCOHR
| Q4 25 | 1.46× | 0.39× | ||
| Q3 25 | 1.93× | 0.20× | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | 0.28× | 10.37× | ||
| Q4 24 | 2.02× | 1.81× | ||
| Q3 24 | 1.63× | 5.91× | ||
| Q2 24 | 0.37× | — | ||
| Q1 24 | 0.72× | — |
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% |
COHR
| Datacenter And Communications Segment | $1.2B | 72% |
| Industrial Segment | $477.7M | 28% |
