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A.O.史密斯（AOS）与HF Sinclair Corp（DINO）财务数据对比。点击上方公司名可切换其他公司
HF Sinclair Corp的季度营收约是A.O.史密斯的7.1倍（$6.5B vs $912.5M）。A.O.史密斯净利率更高（13.7% vs -0.4%，领先14.2%）。A.O.史密斯同比增速更快（0.0% vs -0.6%）。A.O.史密斯自由现金流更多（$165.5M vs $-123.0M）。过去两年A.O.史密斯的营收复合增速更高（-3.4% vs -4.1%）
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。
HF Sinclair是总部位于美国得克萨斯州达拉斯的能源企业，主要从事汽油、柴油、航空燃油、可再生柴油、特种润滑油、特种化学品、特种改性沥青等多类能源化工产品的生产与销售。
AOS vs DINO — 直观对比
营收规模更大
DINO
是对方的7.1倍
$912.5M
营收增速更快
AOS
高出0.6%
-0.6%
净利率更高
AOS
高出14.2%
-0.4%
自由现金流更多
AOS
多$288.5M
$-123.0M
两年增速更快
AOS
近两年复合增速
-4.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $6.5B |
| 净利润 | $125.4M | $-28.0M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 17.9% | 0.1% |
| 净利率 | 13.7% | -0.4% |
| 营收同比 | 0.0% | -0.6% |
| 净利润同比 | 14.3% | 86.9% |
| 每股收益（稀释后） | $0.89 | $-0.15 |
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AOSDINO
| Q4 25 | $912.5M | $6.5B | ||
| Q3 25 | $942.5M | $7.3B | ||
| Q2 25 | $1.0B | $6.8B | ||
| Q1 25 | $963.9M | $6.4B | ||
| Q4 24 | $912.4M | $6.5B | ||
| Q3 24 | $902.6M | $7.2B | ||
| Q2 24 | $1.0B | $7.8B | ||
| Q1 24 | $978.8M | $7.0B |
净利润AOSDINO
| Q4 25 | $125.4M | $-28.0M | ||
| Q3 25 | $132.0M | $403.0M | ||
| Q2 25 | $152.2M | $208.0M | ||
| Q1 25 | $136.6M | $-4.0M | ||
| Q4 24 | $109.7M | $-213.5M | ||
| Q3 24 | $120.1M | $-75.9M | ||
| Q2 24 | $156.2M | $151.8M | ||
| Q1 24 | $147.6M | $314.7M |
毛利率AOSDINO
| 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% | — | ||
| Q1 24 | 39.3% | 15.7% |
营业利润率AOSDINO
| Q4 25 | 17.9% | 0.1% | ||
| Q3 25 | 18.6% | 7.8% | ||
| Q2 25 | 20.4% | 4.1% | ||
| Q1 25 | 19.1% | 1.3% | ||
| Q4 24 | 10.1% | -3.5% | ||
| Q3 24 | 19.5% | -1.7% | ||
| Q2 24 | 21.9% | 2.5% | ||
| Q1 24 | 22.0% | 5.8% |
净利率AOSDINO
| Q4 25 | 13.7% | -0.4% | ||
| Q3 25 | 14.0% | 5.6% | ||
| Q2 25 | 15.0% | 3.1% | ||
| Q1 25 | 14.2% | -0.1% | ||
| Q4 24 | 12.0% | -3.3% | ||
| Q3 24 | 13.3% | -1.1% | ||
| Q2 24 | 15.2% | 1.9% | ||
| Q1 24 | 15.1% | 4.5% |
每股收益（稀释后）AOSDINO
| Q4 25 | $0.89 | $-0.15 | ||
| Q3 25 | $0.94 | $2.15 | ||
| Q2 25 | $1.07 | $1.10 | ||
| Q1 25 | $0.95 | $-0.02 | ||
| Q4 24 | $0.75 | $-1.05 | ||
| Q3 24 | $0.82 | $-0.40 | ||
| Q2 24 | $1.06 | $0.79 | ||
| Q1 24 | $1.00 | $1.57 |
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 | $978.0M |
| 总债务越低越好 | $155.0M | $2.8B |
| 股东权益账面价值 | $1.9B | $9.2B |
| 总资产 | $3.1B | $16.5B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资AOSDINO
| Q4 25 | $193.2M | $978.0M | ||
| Q3 25 | $172.8M | $1.5B | ||
| Q2 25 | $177.9M | $874.0M | ||
| Q1 25 | $200.2M | $547.0M | ||
| Q4 24 | $276.1M | $800.0M | ||
| Q3 24 | $255.6M | $1.2B | ||
| Q2 24 | $233.3M | $866.3M | ||
| Q1 24 | $303.1M | $1.2B |
总债务AOSDINO
| Q4 25 | $155.0M | $2.8B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | $193.2M | $2.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSDINO
| Q4 25 | $1.9B | $9.2B | ||
| Q3 25 | $1.8B | $9.4B | ||
| Q2 25 | $1.8B | $9.3B | ||
| Q1 25 | $1.9B | $9.2B | ||
| Q4 24 | $1.9B | $9.3B | ||
| Q3 24 | $1.9B | $9.6B | ||
| Q2 24 | $1.9B | $9.9B | ||
| Q1 24 | $1.9B | $10.2B |
总资产AOSDINO
| Q4 25 | $3.1B | $16.5B | ||
| Q3 25 | $3.2B | $17.3B | ||
| Q2 25 | $3.2B | $16.8B | ||
| Q1 25 | $3.3B | $16.5B | ||
| Q4 24 | $3.2B | $16.6B | ||
| Q3 24 | $3.2B | $16.9B | ||
| Q2 24 | $3.2B | $17.4B | ||
| Q1 24 | $3.2B | $17.9B |
负债/权益比AOSDINO
| Q4 25 | 0.08× | 0.30× | ||
| Q3 25 | — | 0.29× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | 0.10× | 0.29× | ||
| 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 | $8.0M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $-123.0M |
| 自由现金流率自由现金流/营收 | 18.1% | -1.9% |
| 资本支出强度资本支出/营收 | 1.9% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.46× | — |
| 过去12个月自由现金流最近4个季度 | $546.0M | $866.0M |
8季度趋势，按日历期对齐
经营现金流AOSDINO
| Q4 25 | $183.1M | $8.0M | ||
| Q3 25 | $255.4M | $809.0M | ||
| Q2 25 | $139.6M | $587.0M | ||
| Q1 25 | $38.7M | $-89.0M | ||
| Q4 24 | $221.9M | $-140.4M | ||
| Q3 24 | $195.9M | $707.6M | ||
| Q2 24 | $57.4M | $225.9M | ||
| Q1 24 | $106.6M | $316.9M |
自由现金流AOSDINO
| Q4 25 | $165.5M | $-123.0M | ||
| Q3 25 | $240.6M | $688.0M | ||
| Q2 25 | $122.5M | $476.0M | ||
| Q1 25 | $17.4M | $-175.0M | ||
| Q4 24 | $191.3M | $-313.5M | ||
| Q3 24 | $163.4M | $584.0M | ||
| Q2 24 | $34.5M | $141.7M | ||
| Q1 24 | $84.6M | $227.8M |
自由现金流率AOSDINO
| Q4 25 | 18.1% | -1.9% | ||
| Q3 25 | 25.5% | 9.5% | ||
| Q2 25 | 12.1% | 7.0% | ||
| Q1 25 | 1.8% | -2.7% | ||
| Q4 24 | 21.0% | -4.8% | ||
| Q3 24 | 18.1% | 8.1% | ||
| Q2 24 | 3.4% | 1.8% | ||
| Q1 24 | 8.6% | 3.2% |
资本支出强度AOSDINO
| Q4 25 | 1.9% | 2.0% | ||
| Q3 25 | 1.6% | 1.7% | ||
| Q2 25 | 1.7% | 1.6% | ||
| Q1 25 | 2.2% | 1.4% | ||
| Q4 24 | 3.4% | 2.7% | ||
| Q3 24 | 3.6% | 1.7% | ||
| Q2 24 | 2.2% | 1.1% | ||
| Q1 24 | 2.2% | 1.3% |
现金转化率AOSDINO
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | 2.01× | ||
| Q2 25 | 0.92× | 2.82× | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | 1.49× | ||
| Q1 24 | 0.72× | 1.01× |
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% |
DINO
| Transportation Fuels | $5.0B | 77% |
| Lubricants And Specialties Segment | $586.0M | 9% |
| Lubricants And Specialty Products | $531.0M | 8% |
| Crude Oil | $213.0M | 3% |
| Renewables Segment | $163.0M | 3% |
| Midstream Segment | $35.0M | 1% |
| Transportation And Logistic Services | $34.0M | 1% |
