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A.O.史密斯（AOS）与FTAI Infrastructure Inc.（FIP）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FTAI Infrastructure Inc.的6.4倍（$912.5M vs $143.5M）。A.O.史密斯净利率更高（13.7% vs -68.1%，领先81.8%）。FTAI Infrastructure Inc.同比增速更快（77.7% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $-68.6M）。过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% 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。
FTAI基础设施有限公司持有、运营并投资交通物流、中游能源、发电等核心领域的优质关键基础设施资产，主要面向北美市场，聚焦拥有稳定长期现金流、合同约定收入流的项目，为利益相关方创造可持续回报。
AOS vs FIP — 直观对比
营收规模更大
AOS
是对方的6.4倍
$143.5M
营收增速更快
FIP
高出77.7%
0.0%
净利率更高
AOS
高出81.8%
-68.1%
自由现金流更多
AOS
多$234.1M
$-68.6M
两年增速更快
FIP
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $143.5M |
| 净利润 | $125.4M | $-97.7M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 17.9% | -45.7% |
| 净利率 | 13.7% | -68.1% |
| 营收同比 | 0.0% | 77.7% |
| 净利润同比 | 14.3% | 21.6% |
| 每股收益（稀释后） | $0.89 | $-1.04 |
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AOSFIP
| Q4 25 | $912.5M | $143.5M | ||
| Q3 25 | $942.5M | $140.6M | ||
| Q2 25 | $1.0B | $122.3M | ||
| Q1 25 | $963.9M | $96.2M | ||
| Q4 24 | $912.4M | $80.8M | ||
| Q3 24 | $902.6M | $83.3M | ||
| Q2 24 | $1.0B | $84.9M | ||
| Q1 24 | $978.8M | $82.5M |
净利润AOSFIP
| Q4 25 | $125.4M | $-97.7M | ||
| Q3 25 | $132.0M | $-104.5M | ||
| Q2 25 | $152.2M | $-70.0M | ||
| Q1 25 | $136.6M | $120.2M | ||
| Q4 24 | $109.7M | $-124.7M | ||
| Q3 24 | $120.1M | $-43.0M | ||
| Q2 24 | $156.2M | $-48.1M | ||
| Q1 24 | $147.6M | $-50.3M |
毛利率AOSFIP
| 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AOSFIP
| Q4 25 | 17.9% | -45.7% | ||
| Q3 25 | 18.6% | -70.8% | ||
| Q2 25 | 20.4% | -56.4% | ||
| Q1 25 | 19.1% | 81.8% | ||
| Q4 24 | 10.1% | -152.7% | ||
| Q3 24 | 19.5% | -51.7% | ||
| Q2 24 | 21.9% | -56.4% | ||
| Q1 24 | 22.0% | -58.8% |
净利率AOSFIP
| Q4 25 | 13.7% | -68.1% | ||
| Q3 25 | 14.0% | -74.4% | ||
| Q2 25 | 15.0% | -57.2% | ||
| Q1 25 | 14.2% | 125.0% | ||
| Q4 24 | 12.0% | -154.4% | ||
| Q3 24 | 13.3% | -51.6% | ||
| Q2 24 | 15.2% | -56.7% | ||
| Q1 24 | 15.1% | -60.9% |
每股收益（稀释后）AOSFIP
| Q4 25 | $0.89 | $-1.04 | ||
| Q3 25 | $0.94 | $-1.38 | ||
| Q2 25 | $1.07 | $-0.73 | ||
| Q1 25 | $0.95 | $0.89 | ||
| Q4 24 | $0.75 | $-1.21 | ||
| Q3 24 | $0.82 | $-0.45 | ||
| Q2 24 | $1.06 | $-0.52 | ||
| Q1 24 | $1.00 | $-0.54 |
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 | $57.4M |
| 总债务越低越好 | $155.0M | $3.8B |
| 股东权益账面价值 | $1.9B | $21.3M |
| 总资产 | $3.1B | $5.7B |
| 负债/权益比越低杠杆越低 | 0.08× | 176.99× |
8季度趋势，按日历期对齐
现金及短期投资AOSFIP
| Q4 25 | $193.2M | $57.4M | ||
| Q3 25 | $172.8M | $34.7M | ||
| Q2 25 | $177.9M | $33.6M | ||
| Q1 25 | $200.2M | $26.3M | ||
| Q4 24 | $276.1M | $27.8M | ||
| Q3 24 | $255.6M | $20.3M | ||
| Q2 24 | $233.3M | $33.1M | ||
| Q1 24 | $303.1M | $23.0M |
总债务AOSFIP
| Q4 25 | $155.0M | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $193.2M | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.3B |
股东权益AOSFIP
| Q4 25 | $1.9B | $21.3M | ||
| Q3 25 | $1.8B | $181.1M | ||
| Q2 25 | $1.8B | $375.5M | ||
| Q1 25 | $1.9B | $476.2M | ||
| Q4 24 | $1.9B | $202.7M | ||
| Q3 24 | $1.9B | $370.8M | ||
| Q2 24 | $1.9B | $394.8M | ||
| Q1 24 | $1.9B | $402.5M |
总资产AOSFIP
| Q4 25 | $3.1B | $5.7B | ||
| Q3 25 | $3.2B | $5.5B | ||
| Q2 25 | $3.2B | $4.4B | ||
| Q1 25 | $3.3B | $4.1B | ||
| Q4 24 | $3.2B | $2.4B | ||
| Q3 24 | $3.2B | $2.4B | ||
| Q2 24 | $3.2B | $2.5B | ||
| Q1 24 | $3.2B | $2.3B |
负债/权益比AOSFIP
| Q4 25 | 0.08× | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | 0.10× | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× | ||
| Q1 24 | — | 3.34× |
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 | $-2.8M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $-68.6M |
| 自由现金流率自由现金流/营收 | 18.1% | -47.8% |
| 资本支出强度资本支出/营收 | 1.9% | 45.9% |
| 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 | $-398.5M |
8季度趋势，按日历期对齐
经营现金流AOSFIP
| Q4 25 | $183.1M | $-2.8M | ||
| Q3 25 | $255.4M | $-24.4M | ||
| Q2 25 | $139.6M | $-5.2M | ||
| Q1 25 | $38.7M | $-85.7M | ||
| Q4 24 | $221.9M | $-8.1M | ||
| Q3 24 | $195.9M | $14.2M | ||
| Q2 24 | $57.4M | $-17.6M | ||
| Q1 24 | $106.6M | $-3.9M |
自由现金流AOSFIP
| Q4 25 | $165.5M | $-68.6M | ||
| Q3 25 | $240.6M | $-90.7M | ||
| Q2 25 | $122.5M | $-87.5M | ||
| Q1 25 | $17.4M | $-151.7M | ||
| Q4 24 | $191.3M | $-34.3M | ||
| Q3 24 | $163.4M | $-11.7M | ||
| Q2 24 | $34.5M | $-32.1M | ||
| Q1 24 | $84.6M | $-16.7M |
自由现金流率AOSFIP
| Q4 25 | 18.1% | -47.8% | ||
| Q3 25 | 25.5% | -64.5% | ||
| Q2 25 | 12.1% | -71.6% | ||
| Q1 25 | 1.8% | -157.7% | ||
| Q4 24 | 21.0% | -42.4% | ||
| Q3 24 | 18.1% | -14.0% | ||
| Q2 24 | 3.4% | -37.9% | ||
| Q1 24 | 8.6% | -20.3% |
资本支出强度AOSFIP
| Q4 25 | 1.9% | 45.9% | ||
| Q3 25 | 1.6% | 47.2% | ||
| Q2 25 | 1.7% | 67.3% | ||
| Q1 25 | 2.2% | 68.6% | ||
| Q4 24 | 3.4% | 32.5% | ||
| Q3 24 | 3.6% | 31.1% | ||
| Q2 24 | 2.2% | 17.2% | ||
| Q1 24 | 2.2% | 15.6% |
现金转化率AOSFIP
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | 0.28× | -0.71× | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | — | ||
| Q1 24 | 0.72× | — |
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% |
FIP
| Power Revenues | $45.9M | 32% |
| Rail Revenue | $44.6M | 31% |
| Service Other | $22.8M | 16% |
| Gas Revenues | $15.3M | 11% |
| Roadside Services Revenues | $11.5M | 8% |
| Rapauno | $1.2M | 1% |
