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A.O.史密斯（AOS）与FirstCash Holdings, Inc.（FCFS）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FirstCash Holdings, Inc.的1.8倍（$912.5M vs $501.3M），FirstCash Holdings, Inc.净利率更高（20.8% vs 13.7%，领先7.0%），FirstCash Holdings, Inc.同比增速更快（21.2% vs 0.0%），过去两年FirstCash Holdings, Inc.的营收复合增速更高（16.9% 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。
FirstCash Holdings, Inc.是总部位于美国得克萨斯州沃斯堡的典当企业，在美国及拉丁美洲多地运营线下典当零售门店，为纳斯达克证券交易所公开上市企业，在美洲典当服务领域拥有成熟的业务布局与完善的运营网络。
AOS vs FCFS — 直观对比
营收规模更大
AOS
是对方的1.8倍
$501.3M
营收增速更快
FCFS
高出21.2%
0.0%
净利率更高
FCFS
高出7.0%
13.7%
两年增速更快
FCFS
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $501.3M |
| 净利润 | $125.4M | $104.2M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 17.9% | 28.5% |
| 净利率 | 13.7% | 20.8% |
| 营收同比 | 0.0% | 21.2% |
| 净利润同比 | 14.3% | 24.7% |
| 每股收益（稀释后） | $0.89 | $2.35 |
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AOSFCFS
| Q4 25 | $912.5M | $501.3M | ||
| Q3 25 | $942.5M | $411.0M | ||
| Q2 25 | $1.0B | $385.1M | ||
| Q1 25 | $963.9M | $371.1M | ||
| Q4 24 | $912.4M | $413.7M | ||
| Q3 24 | $902.6M | $363.1M | ||
| Q2 24 | $1.0B | $363.5M | ||
| Q1 24 | $978.8M | $366.8M |
净利润AOSFCFS
| Q4 25 | $125.4M | $104.2M | ||
| Q3 25 | $132.0M | $82.8M | ||
| Q2 25 | $152.2M | $59.8M | ||
| Q1 25 | $136.6M | $83.6M | ||
| Q4 24 | $109.7M | $83.5M | ||
| Q3 24 | $120.1M | $64.8M | ||
| Q2 24 | $156.2M | $49.1M | ||
| Q1 24 | $147.6M | $61.4M |
毛利率AOSFCFS
| 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AOSFCFS
| Q4 25 | 17.9% | 28.5% | ||
| Q3 25 | 18.6% | 27.4% | ||
| Q2 25 | 20.4% | 21.1% | ||
| Q1 25 | 19.1% | 30.0% | ||
| Q4 24 | 10.1% | 26.5% | ||
| Q3 24 | 19.5% | 23.5% | ||
| Q2 24 | 21.9% | 18.2% | ||
| Q1 24 | 22.0% | 22.3% |
净利率AOSFCFS
| Q4 25 | 13.7% | 20.8% | ||
| Q3 25 | 14.0% | 20.1% | ||
| Q2 25 | 15.0% | 15.5% | ||
| Q1 25 | 14.2% | 22.5% | ||
| Q4 24 | 12.0% | 20.2% | ||
| Q3 24 | 13.3% | 17.9% | ||
| Q2 24 | 15.2% | 13.5% | ||
| Q1 24 | 15.1% | 16.7% |
每股收益（稀释后）AOSFCFS
| Q4 25 | $0.89 | $2.35 | ||
| Q3 25 | $0.94 | $1.86 | ||
| Q2 25 | $1.07 | $1.34 | ||
| Q1 25 | $0.95 | $1.87 | ||
| Q4 24 | $0.75 | $1.86 | ||
| Q3 24 | $0.82 | $1.44 | ||
| Q2 24 | $1.06 | $1.08 | ||
| Q1 24 | $1.00 | $1.35 |
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 | $125.2M |
| 总债务越低越好 | $155.0M | $2.2B |
| 股东权益账面价值 | $1.9B | $2.3B |
| 总资产 | $3.1B | $5.3B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资AOSFCFS
| Q4 25 | $193.2M | $125.2M | ||
| Q3 25 | $172.8M | $130.2M | ||
| Q2 25 | $177.9M | $101.5M | ||
| Q1 25 | $200.2M | $146.0M | ||
| Q4 24 | $276.1M | $175.1M | ||
| Q3 24 | $255.6M | $106.3M | ||
| Q2 24 | $233.3M | $113.7M | ||
| Q1 24 | $303.1M | $135.1M |
总债务AOSFCFS
| Q4 25 | $155.0M | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $193.2M | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.5B |
股东权益AOSFCFS
| Q4 25 | $1.9B | $2.3B | ||
| Q3 25 | $1.8B | $2.2B | ||
| Q2 25 | $1.8B | $2.1B | ||
| Q1 25 | $1.9B | $2.1B | ||
| Q4 24 | $1.9B | $2.1B | ||
| Q3 24 | $1.9B | $2.0B | ||
| Q2 24 | $1.9B | $2.0B | ||
| Q1 24 | $1.9B | $2.0B |
总资产AOSFCFS
| Q4 25 | $3.1B | $5.3B | ||
| Q3 25 | $3.2B | $5.2B | ||
| Q2 25 | $3.2B | $4.5B | ||
| Q1 25 | $3.3B | $4.4B | ||
| Q4 24 | $3.2B | $4.5B | ||
| Q3 24 | $3.2B | $4.4B | ||
| Q2 24 | $3.2B | $4.3B | ||
| Q1 24 | $3.2B | $4.2B |
负债/权益比AOSFCFS
| Q4 25 | 0.08× | 0.98× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 0.79× | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | 0.10× | 0.85× | ||
| Q3 24 | — | 0.87× | ||
| Q2 24 | — | 0.85× | ||
| Q1 24 | — | 0.75× |
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 | $206.6M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | — |
| 自由现金流率自由现金流/营收 | 18.1% | — |
| 资本支出强度资本支出/营收 | 1.9% | — |
| 现金转化率经营现金流/净利润 | 1.46× | 1.98× |
| 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AOSFCFS
| Q4 25 | $183.1M | $206.6M | ||
| Q3 25 | $255.4M | $135.8M | ||
| Q2 25 | $139.6M | $116.9M | ||
| Q1 25 | $38.7M | $126.6M | ||
| Q4 24 | $221.9M | $198.1M | ||
| Q3 24 | $195.9M | $113.1M | ||
| Q2 24 | $57.4M | $106.2M | ||
| Q1 24 | $106.6M | $122.5M |
自由现金流AOSFCFS
| Q4 25 | $165.5M | — | ||
| Q3 25 | $240.6M | — | ||
| Q2 25 | $122.5M | — | ||
| Q1 25 | $17.4M | — | ||
| Q4 24 | $191.3M | — | ||
| Q3 24 | $163.4M | — | ||
| Q2 24 | $34.5M | — | ||
| Q1 24 | $84.6M | — |
自由现金流率AOSFCFS
| Q4 25 | 18.1% | — | ||
| Q3 25 | 25.5% | — | ||
| Q2 25 | 12.1% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 21.0% | — | ||
| Q3 24 | 18.1% | — | ||
| Q2 24 | 3.4% | — | ||
| Q1 24 | 8.6% | — |
资本支出强度AOSFCFS
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 2.2% | — |
现金转化率AOSFCFS
| Q4 25 | 1.46× | 1.98× | ||
| Q3 25 | 1.93× | 1.64× | ||
| Q2 25 | 0.92× | 1.95× | ||
| Q1 25 | 0.28× | 1.51× | ||
| Q4 24 | 2.02× | 2.37× | ||
| Q3 24 | 1.63× | 1.74× | ||
| Q2 24 | 0.37× | 2.16× | ||
| Q1 24 | 0.72× | 2.00× |
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% |
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
