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A.O.史密斯（AOS）与中国东方航空（EML）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中国东方航空的16.5倍（$912.5M vs $55.3M）。A.O.史密斯净利率更高（13.7% vs 1.0%，领先12.7%）。A.O.史密斯同比增速更快（0.0% vs -22.4%）。A.O.史密斯自由现金流更多（$165.5M vs $3.1M）。过去两年中国东方航空的营收复合增速更高（-0.6% 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。
中国东方航空是中国境内的头部航空公司，总部位于上海长宁区，与中国国际航空、中国南方航空并称为中国三大骨干航空公司，航线网络覆盖全球多个国家和地区，是中国民航市场的核心运营商之一。
AOS vs EML — 直观对比
营收规模更大
AOS
是对方的16.5倍
$55.3M
营收增速更快
AOS
高出22.4%
-22.4%
净利率更高
AOS
高出12.7%
1.0%
自由现金流更多
AOS
多$162.4M
$3.1M
两年增速更快
EML
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $55.3M |
| 净利润 | $125.4M | $578.9K |
| 毛利率 | 38.4% | 22.3% |
| 营业利润率 | 17.9% | 3.1% |
| 净利率 | 13.7% | 1.0% |
| 营收同比 | 0.0% | -22.4% |
| 净利润同比 | 14.3% | 103.8% |
| 每股收益（稀释后） | $0.89 | $0.10 |
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AOSEML
| Q4 25 | $912.5M | — | ||
| Q3 25 | $942.5M | $55.3M | ||
| Q2 25 | $1.0B | $70.2M | ||
| Q1 25 | $963.9M | $63.3M | ||
| Q4 24 | $912.4M | $64.3M | ||
| Q3 24 | $902.6M | $71.3M | ||
| Q2 24 | $1.0B | $72.6M | ||
| Q1 24 | $978.8M | $64.6M |
净利润AOSEML
| Q4 25 | $125.4M | — | ||
| Q3 25 | $132.0M | $578.9K | ||
| Q2 25 | $152.2M | $3.4M | ||
| Q1 25 | $136.6M | $1.9M | ||
| Q4 24 | $109.7M | $1.3M | ||
| Q3 24 | $120.1M | $-15.3M | ||
| Q2 24 | $156.2M | $3.5M | ||
| Q1 24 | $147.6M | $1.9M |
毛利率AOSEML
| Q4 25 | 38.4% | — | ||
| Q3 25 | 38.7% | 22.3% | ||
| Q2 25 | 39.3% | 23.3% | ||
| Q1 25 | 38.9% | 22.4% | ||
| Q4 24 | 37.1% | 23.6% | ||
| Q3 24 | 37.4% | 25.5% | ||
| Q2 24 | 38.7% | 25.4% | ||
| Q1 24 | 39.3% | 23.9% |
营业利润率AOSEML
| Q4 25 | 17.9% | — | ||
| Q3 25 | 18.6% | 3.1% | ||
| Q2 25 | 20.4% | 4.5% | ||
| Q1 25 | 19.1% | 5.1% | ||
| Q4 24 | 10.1% | 6.1% | ||
| Q3 24 | 19.5% | 9.5% | ||
| Q2 24 | 21.9% | 8.3% | ||
| Q1 24 | 22.0% | 5.3% |
净利率AOSEML
| Q4 25 | 13.7% | — | ||
| Q3 25 | 14.0% | 1.0% | ||
| Q2 25 | 15.0% | 4.9% | ||
| Q1 25 | 14.2% | 3.1% | ||
| Q4 24 | 12.0% | 2.0% | ||
| Q3 24 | 13.3% | -21.5% | ||
| Q2 24 | 15.2% | 4.8% | ||
| Q1 24 | 15.1% | 3.0% |
每股收益（稀释后）AOSEML
| Q4 25 | $0.89 | — | ||
| Q3 25 | $0.94 | $0.10 | ||
| Q2 25 | $1.07 | $0.56 | ||
| Q1 25 | $0.95 | $0.32 | ||
| Q4 24 | $0.75 | $0.22 | ||
| Q3 24 | $0.82 | $-2.46 | ||
| Q2 24 | $1.06 | $0.56 | ||
| Q1 24 | $1.00 | $0.31 |
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 | $9.2M |
| 总债务越低越好 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $124.3M |
| 总资产 | $3.1B | $220.0M |
| 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AOSEML
| Q4 25 | $193.2M | — | ||
| Q3 25 | $172.8M | $9.2M | ||
| Q2 25 | $177.9M | $9.1M | ||
| Q1 25 | $200.2M | $10.2M | ||
| Q4 24 | $276.1M | $16.1M | ||
| Q3 24 | $255.6M | $9.7M | ||
| Q2 24 | $233.3M | $2.0M | ||
| Q1 24 | $303.1M | $2.1M |
总债务AOSEML
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | $42.2M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSEML
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.8B | $124.3M | ||
| Q2 25 | $1.8B | $124.4M | ||
| Q1 25 | $1.9B | $121.0M | ||
| Q4 24 | $1.9B | $120.7M | ||
| Q3 24 | $1.9B | $119.2M | ||
| Q2 24 | $1.9B | $136.5M | ||
| Q1 24 | $1.9B | $134.5M |
总资产AOSEML
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.2B | $220.0M | ||
| Q2 25 | $3.2B | $229.4M | ||
| Q1 25 | $3.3B | $232.3M | ||
| Q4 24 | $3.2B | $235.3M | ||
| Q3 24 | $3.2B | $244.2M | ||
| Q2 24 | $3.2B | $255.9M | ||
| Q1 24 | $3.2B | $253.9M |
负债/权益比AOSEML
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | 0.35× | ||
| 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 | $3.1M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $3.1M |
| 自由现金流率自由现金流/营收 | 18.1% | 5.5% |
| 资本支出强度资本支出/营收 | 1.9% | 0.1% |
| 现金转化率经营现金流/净利润 | 1.46× | 5.38× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $12.3M |
8季度趋势，按日历期对齐
经营现金流AOSEML
| Q4 25 | $183.1M | — | ||
| Q3 25 | $255.4M | $3.1M | ||
| Q2 25 | $139.6M | $3.8M | ||
| Q1 25 | $38.7M | $-1.8M | ||
| Q4 24 | $221.9M | $11.0M | ||
| Q3 24 | $195.9M | $-2.9M | ||
| Q2 24 | $57.4M | $8.4M | ||
| Q1 24 | $106.6M | $2.8M |
自由现金流AOSEML
| Q4 25 | $165.5M | — | ||
| Q3 25 | $240.6M | $3.1M | ||
| Q2 25 | $122.5M | $3.0M | ||
| Q1 25 | $17.4M | $-2.7M | ||
| Q4 24 | $191.3M | $9.0M | ||
| Q3 24 | $163.4M | $-7.7M | ||
| Q2 24 | $34.5M | $7.3M | ||
| Q1 24 | $84.6M | $1.1M |
自由现金流率AOSEML
| Q4 25 | 18.1% | — | ||
| Q3 25 | 25.5% | 5.5% | ||
| Q2 25 | 12.1% | 4.3% | ||
| Q1 25 | 1.8% | -4.3% | ||
| Q4 24 | 21.0% | 13.9% | ||
| Q3 24 | 18.1% | -10.8% | ||
| Q2 24 | 3.4% | 10.1% | ||
| Q1 24 | 8.6% | 1.7% |
资本支出强度AOSEML
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.6% | 0.1% | ||
| Q2 25 | 1.7% | 1.1% | ||
| Q1 25 | 2.2% | 1.3% | ||
| Q4 24 | 3.4% | 3.2% | ||
| Q3 24 | 3.6% | 6.7% | ||
| Q2 24 | 2.2% | 1.5% | ||
| Q1 24 | 2.2% | 2.6% |
现金转化率AOSEML
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | 5.38× | ||
| Q2 25 | 0.92× | 1.09× | ||
| Q1 25 | 0.28× | -0.95× | ||
| Q4 24 | 2.02× | 8.41× | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | 2.40× | ||
| Q1 24 | 0.72× | 1.43× |
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% |
EML
暂无分部数据
