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A.O.史密斯（AOS）与Healthpeak Properties（DOC）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Healthpeak Properties的1.3倍（$912.5M vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 13.7%，领先59.4%），Healthpeak Properties同比增速更快（3.1% vs 0.0%），Healthpeak Properties自由现金流更多（$357.0M vs $165.5M），过去两年Healthpeak Properties的营收复合增速更高（8.9% 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。
Healthpeak Properties是美国医疗地产领域的房地产投资信托基金，核心投资范畴覆盖老年住宅、生命科学相关物业及医疗办公楼三类资产。公司2007年于马里兰州组建，总部设在科罗拉多州丹佛市，在尔湾、纳什维尔、旧金山均设有办事处，截至2019年12月31日共持有617处物业的权益。
AOS vs DOC — 直观对比
营收规模更大
AOS
是对方的1.3倍
$719.4M
营收增速更快
DOC
高出3.1%
0.0%
净利率更高
DOC
高出59.4%
13.7%
自由现金流更多
DOC
多$191.5M
$165.5M
两年增速更快
DOC
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $719.4M |
| 净利润 | $125.4M | $114.0M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 17.9% | 17.4% |
| 净利率 | 13.7% | 73.2% |
| 营收同比 | 0.0% | 3.1% |
| 净利润同比 | 14.3% | 2406.4% |
| 每股收益（稀释后） | $0.89 | $0.16 |
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AOSDOC
| Q4 25 | $912.5M | $719.4M | ||
| Q3 25 | $942.5M | $705.9M | ||
| Q2 25 | $1.0B | $694.3M | ||
| Q1 25 | $963.9M | $702.9M | ||
| Q4 24 | $912.4M | $698.0M | ||
| Q3 24 | $902.6M | $700.4M | ||
| Q2 24 | $1.0B | $695.5M | ||
| Q1 24 | $978.8M | $606.6M |
净利润AOSDOC
| Q4 25 | $125.4M | $114.0M | ||
| Q3 25 | $132.0M | $-117.1M | ||
| Q2 25 | $152.2M | $31.7M | ||
| Q1 25 | $136.6M | $42.8M | ||
| Q4 24 | $109.7M | $4.5M | ||
| Q3 24 | $120.1M | $85.9M | ||
| Q2 24 | $156.2M | $146.0M | ||
| Q1 24 | $147.6M | $6.7M |
毛利率AOSDOC
| Q4 25 | 38.4% | — | ||
| Q3 25 | 38.7% | 58.6% | ||
| Q2 25 | 39.3% | 60.2% | ||
| Q1 25 | 38.9% | 61.1% | ||
| Q4 24 | 37.1% | 60.3% | ||
| Q3 24 | 37.4% | 60.0% | ||
| Q2 24 | 38.7% | 60.6% | ||
| Q1 24 | 39.3% | 59.8% |
营业利润率AOSDOC
| Q4 25 | 17.9% | 17.4% | ||
| Q3 25 | 18.6% | 9.2% | ||
| Q2 25 | 20.4% | 5.7% | ||
| Q1 25 | 19.1% | 7.7% | ||
| Q4 24 | 10.1% | -2.2% | ||
| Q3 24 | 19.5% | 14.1% | ||
| Q2 24 | 21.9% | 22.3% | ||
| Q1 24 | 22.0% | 3.7% |
净利率AOSDOC
| Q4 25 | 13.7% | 73.2% | ||
| Q3 25 | 14.0% | -16.6% | ||
| Q2 25 | 15.0% | 4.6% | ||
| Q1 25 | 14.2% | 6.1% | ||
| Q4 24 | 12.0% | 0.7% | ||
| Q3 24 | 13.3% | 12.3% | ||
| Q2 24 | 15.2% | 21.0% | ||
| Q1 24 | 15.1% | 1.1% |
每股收益（稀释后）AOSDOC
| Q4 25 | $0.89 | $0.16 | ||
| Q3 25 | $0.94 | $-0.17 | ||
| Q2 25 | $1.07 | $0.05 | ||
| Q1 25 | $0.95 | $0.06 | ||
| Q4 24 | $0.75 | $0.02 | ||
| Q3 24 | $0.82 | $0.12 | ||
| Q2 24 | $1.06 | $0.21 | ||
| Q1 24 | $1.00 | $0.01 |
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 | $467.5M |
| 总债务越低越好 | $155.0M | $9.8B |
| 股东权益账面价值 | $1.9B | $7.5B |
| 总资产 | $3.1B | $20.3B |
| 负债/权益比越低杠杆越低 | 0.08× | 1.31× |
8季度趋势，按日历期对齐
现金及短期投资AOSDOC
| Q4 25 | $193.2M | $467.5M | ||
| Q3 25 | $172.8M | $91.0M | ||
| Q2 25 | $177.9M | $89.4M | ||
| Q1 25 | $200.2M | $70.6M | ||
| Q4 24 | $276.1M | $119.8M | ||
| Q3 24 | $255.6M | $180.4M | ||
| Q2 24 | $233.3M | $106.9M | ||
| Q1 24 | $303.1M | $101.8M |
总债务AOSDOC
| Q4 25 | $155.0M | $9.8B | ||
| Q3 25 | — | $9.1B | ||
| Q2 25 | — | $9.0B | ||
| Q1 25 | — | $8.9B | ||
| Q4 24 | $193.2M | $8.7B | ||
| Q3 24 | — | $8.6B | ||
| Q2 24 | — | $8.6B | ||
| Q1 24 | — | $8.8B |
股东权益AOSDOC
| Q4 25 | $1.9B | $7.5B | ||
| Q3 25 | $1.8B | $7.6B | ||
| Q2 25 | $1.8B | $7.9B | ||
| Q1 25 | $1.9B | $8.2B | ||
| Q4 24 | $1.9B | $8.4B | ||
| Q3 24 | $1.9B | $8.6B | ||
| Q2 24 | $1.9B | $8.8B | ||
| Q1 24 | $1.9B | $8.9B |
总资产AOSDOC
| Q4 25 | $3.1B | $20.3B | ||
| Q3 25 | $3.2B | $19.6B | ||
| Q2 25 | $3.2B | $19.8B | ||
| Q1 25 | $3.3B | $19.8B | ||
| Q4 24 | $3.2B | $19.9B | ||
| Q3 24 | $3.2B | $20.0B | ||
| Q2 24 | $3.2B | $20.2B | ||
| Q1 24 | $3.2B | $20.5B |
负债/权益比AOSDOC
| Q4 25 | 0.08× | 1.31× | ||
| Q3 25 | — | 1.20× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | — | 1.08× | ||
| Q4 24 | 0.10× | 1.04× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 0.98× | ||
| Q1 24 | — | 0.99× |
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 | $1.3B |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $357.0M |
| 自由现金流率自由现金流/营收 | 18.1% | 49.6% |
| 资本支出强度资本支出/营收 | 1.9% | 124.4% |
| 现金转化率经营现金流/净利润 | 1.46× | 10.99× |
| 过去12个月自由现金流最近4个季度 | $546.0M | — |
8季度趋势，按日历期对齐
经营现金流AOSDOC
| Q4 25 | $183.1M | $1.3B | ||
| Q3 25 | $255.4M | $315.0M | ||
| Q2 25 | $139.6M | $363.5M | ||
| Q1 25 | $38.7M | $279.4M | ||
| Q4 24 | $221.9M | $1.1B | ||
| Q3 24 | $195.9M | $318.2M | ||
| Q2 24 | $57.4M | $316.2M | ||
| Q1 24 | $106.6M | $152.6M |
自由现金流AOSDOC
| Q4 25 | $165.5M | $357.0M | ||
| Q3 25 | $240.6M | — | ||
| Q2 25 | $122.5M | — | ||
| Q1 25 | $17.4M | — | ||
| Q4 24 | $191.3M | $333.7M | ||
| Q3 24 | $163.4M | — | ||
| Q2 24 | $34.5M | — | ||
| Q1 24 | $84.6M | — |
自由现金流率AOSDOC
| Q4 25 | 18.1% | 49.6% | ||
| Q3 25 | 25.5% | — | ||
| Q2 25 | 12.1% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 21.0% | 47.8% | ||
| Q3 24 | 18.1% | — | ||
| Q2 24 | 3.4% | — | ||
| Q1 24 | 8.6% | — |
资本支出强度AOSDOC
| Q4 25 | 1.9% | 124.4% | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 3.4% | 105.6% | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 2.2% | — |
现金转化率AOSDOC
| Q4 25 | 1.46× | 10.99× | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.92× | 11.48× | ||
| Q1 25 | 0.28× | 6.52× | ||
| Q4 24 | 2.02× | 235.43× | ||
| Q3 24 | 1.63× | 3.71× | ||
| Q2 24 | 0.37× | 2.17× | ||
| Q1 24 | 0.72× | 22.85× |
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% |
DOC
暂无分部数据
