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A.O.史密斯（AOS）与DYCOM INDUSTRIES INC（DY）财务数据对比。点击上方公司名可切换其他公司
DYCOM INDUSTRIES INC的季度营收约是A.O.史密斯的1.6倍（$1.5B vs $912.5M）。A.O.史密斯净利率更高（13.7% vs 7.3%，领先6.4%）。DYCOM INDUSTRIES 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 $164.8M）。过去两年DYCOM INDUSTRIES INC的营收复合增速更高（23.5% 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。
本公司是美国基础设施服务供应商，服务覆盖电力、管道、工业、通信四大领域，具备各类网络基础设施的规划、设计、安装、项目管理、运维及抢修能力。成立以来坚持内生增长，同时已收购150多家电力承包行业企业，为众多大型电力领域客户提供专业服务。
AOS vs DY — 直观对比
营收规模更大
DY
是对方的1.6倍
$912.5M
营收增速更快
DY
高出14.1%
0.0%
净利率更高
AOS
高出6.4%
7.3%
自由现金流更多
AOS
多$688.0K
$164.8M
两年增速更快
DY
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $1.5B |
| 净利润 | $125.4M | $106.4M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 17.9% | 9.7% |
| 净利率 | 13.7% | 7.3% |
| 营收同比 | 0.0% | 14.1% |
| 净利润同比 | 14.3% | 52.4% |
| 每股收益（稀释后） | $0.89 | $3.63 |
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AOSDY
| Q4 25 | $912.5M | $1.5B | ||
| Q3 25 | $942.5M | $1.4B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $963.9M | $1.1B | ||
| Q4 24 | $912.4M | $1.3B | ||
| Q3 24 | $902.6M | $1.2B | ||
| Q2 24 | $1.0B | $1.1B | ||
| Q1 24 | $978.8M | $952.5M |
净利润AOSDY
| Q4 25 | $125.4M | $106.4M | ||
| Q3 25 | $132.0M | $97.5M | ||
| Q2 25 | $152.2M | $61.0M | ||
| Q1 25 | $136.6M | $32.7M | ||
| Q4 24 | $109.7M | $69.8M | ||
| Q3 24 | $120.1M | $68.4M | ||
| Q2 24 | $156.2M | $62.6M | ||
| Q1 24 | $147.6M | $23.4M |
毛利率AOSDY
| 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% | — |
营业利润率AOSDY
| Q4 25 | 17.9% | 9.7% | ||
| Q3 25 | 18.6% | 9.5% | ||
| Q2 25 | 20.4% | 6.2% | ||
| Q1 25 | 19.1% | 4.1% | ||
| Q4 24 | 10.1% | 7.2% | ||
| Q3 24 | 19.5% | 7.9% | ||
| Q2 24 | 21.9% | 6.8% | ||
| Q1 24 | 22.0% | 3.3% |
净利率AOSDY
| Q4 25 | 13.7% | 7.3% | ||
| Q3 25 | 14.0% | 7.1% | ||
| Q2 25 | 15.0% | 4.9% | ||
| Q1 25 | 14.2% | 3.0% | ||
| Q4 24 | 12.0% | 5.5% | ||
| Q3 24 | 13.3% | 5.7% | ||
| Q2 24 | 15.2% | 5.5% | ||
| Q1 24 | 15.1% | 2.5% |
每股收益（稀释后）AOSDY
| Q4 25 | $0.89 | $3.63 | ||
| Q3 25 | $0.94 | $3.33 | ||
| Q2 25 | $1.07 | $2.09 | ||
| Q1 25 | $0.95 | $1.11 | ||
| Q4 24 | $0.75 | $2.37 | ||
| Q3 24 | $0.82 | $2.32 | ||
| Q2 24 | $1.06 | $2.12 | ||
| Q1 24 | $1.00 | $0.79 |
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 | $110.1M |
| 总债务越低越好 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $1.5B |
| 总资产 | $3.1B | $3.3B |
| 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AOSDY
| Q4 25 | $193.2M | $110.1M | ||
| Q3 25 | $172.8M | $28.5M | ||
| Q2 25 | $177.9M | $16.1M | ||
| Q1 25 | $200.2M | $92.7M | ||
| Q4 24 | $276.1M | $15.3M | ||
| Q3 24 | $255.6M | $19.6M | ||
| Q2 24 | $233.3M | $26.1M | ||
| Q1 24 | $303.1M | $101.1M |
总债务AOSDY
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSDY
| Q4 25 | $1.9B | $1.5B | ||
| Q3 25 | $1.8B | $1.4B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.9B | $1.2B | ||
| Q4 24 | $1.9B | $1.2B | ||
| Q3 24 | $1.9B | $1.2B | ||
| Q2 24 | $1.9B | $1.1B | ||
| Q1 24 | $1.9B | $1.1B |
总资产AOSDY
| Q4 25 | $3.1B | $3.3B | ||
| Q3 25 | $3.2B | $3.2B | ||
| Q2 25 | $3.2B | $3.1B | ||
| Q1 25 | $3.3B | $2.9B | ||
| Q4 24 | $3.2B | $3.1B | ||
| Q3 24 | $3.2B | $2.8B | ||
| Q2 24 | $3.2B | $2.6B | ||
| Q1 24 | $3.2B | $2.5B |
负债/权益比AOSDY
| 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 | $220.0M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $164.8M |
| 自由现金流率自由现金流/营收 | 18.1% | 11.4% |
| 资本支出强度资本支出/营收 | 1.9% | 3.8% |
| 现金转化率经营现金流/净利润 | 1.46× | 2.07× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $296.8M |
8季度趋势，按日历期对齐
经营现金流AOSDY
| Q4 25 | $183.1M | $220.0M | ||
| Q3 25 | $255.4M | $57.4M | ||
| Q2 25 | $139.6M | $-54.0M | ||
| Q1 25 | $38.7M | $328.2M | ||
| Q4 24 | $221.9M | $65.8M | ||
| Q3 24 | $195.9M | $-7.5M | ||
| Q2 24 | $57.4M | $-37.4M | ||
| Q1 24 | $106.6M | $325.1M |
自由现金流AOSDY
| Q4 25 | $165.5M | $164.8M | ||
| Q3 25 | $240.6M | $5.8M | ||
| Q2 25 | $122.5M | $-133.5M | ||
| Q1 25 | $17.4M | $259.7M | ||
| Q4 24 | $191.3M | $-8.8M | ||
| Q3 24 | $163.4M | $-72.9M | ||
| Q2 24 | $34.5M | $-79.4M | ||
| Q1 24 | $84.6M | $267.7M |
自由现金流率AOSDY
| Q4 25 | 18.1% | 11.4% | ||
| Q3 25 | 25.5% | 0.4% | ||
| Q2 25 | 12.1% | -10.6% | ||
| Q1 25 | 1.8% | 23.9% | ||
| Q4 24 | 21.0% | -0.7% | ||
| Q3 24 | 18.1% | -6.1% | ||
| Q2 24 | 3.4% | -6.9% | ||
| Q1 24 | 8.6% | 28.1% |
资本支出强度AOSDY
| Q4 25 | 1.9% | 3.8% | ||
| Q3 25 | 1.6% | 3.8% | ||
| Q2 25 | 1.7% | 6.3% | ||
| Q1 25 | 2.2% | 6.3% | ||
| Q4 24 | 3.4% | 5.9% | ||
| Q3 24 | 3.6% | 5.4% | ||
| Q2 24 | 2.2% | 3.7% | ||
| Q1 24 | 2.2% | 6.0% |
现金转化率AOSDY
| Q4 25 | 1.46× | 2.07× | ||
| Q3 25 | 1.93× | 0.59× | ||
| Q2 25 | 0.92× | -0.88× | ||
| Q1 25 | 0.28× | 10.05× | ||
| Q4 24 | 2.02× | 0.94× | ||
| Q3 24 | 1.63× | -0.11× | ||
| Q2 24 | 0.37× | -0.60× | ||
| Q1 24 | 0.72× | 13.88× |
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% |
DY
暂无分部数据
