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A.O.史密斯（AOS）与FLOWSERVE CORP（FLS）财务数据对比。点击上方公司名可切换其他公司
FLOWSERVE CORP的季度营收约是A.O.史密斯的1.3倍（$1.2B vs $912.5M）。A.O.史密斯净利率更高（13.7% vs -2.4%，领先16.1%）。FLOWSERVE CORP同比增速更快（3.5% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $-25.6M）。过去两年FLOWSERVE CORP的营收复合增速更高（6.0% 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。
Flowserve是美国跨国企业，也是全球领先的工业及环保机械供应商之一，主营泵、阀门、端面机械密封、自动化产品及相关服务，覆盖电力、油气、化工等多个行业，总部位于得克萨斯州欧文市，在全球50多国拥有近1.6万名员工，同时提供完善的售后服务。
AOS vs FLS — 直观对比
营收规模更大
FLS
是对方的1.3倍
$912.5M
营收增速更快
FLS
高出3.5%
0.0%
净利率更高
AOS
高出16.1%
-2.4%
自由现金流更多
AOS
多$191.1M
$-25.6M
两年增速更快
FLS
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $1.2B |
| 净利润 | $125.4M | $-29.0M |
| 毛利率 | 38.4% | 34.8% |
| 营业利润率 | 17.9% | 3.5% |
| 净利率 | 13.7% | -2.4% |
| 营收同比 | 0.0% | 3.5% |
| 净利润同比 | 14.3% | -137.4% |
| 每股收益（稀释后） | $0.89 | $-0.21 |
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AOSFLS
| Q4 25 | $912.5M | $1.2B | ||
| Q3 25 | $942.5M | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $963.9M | $1.1B | ||
| Q4 24 | $912.4M | $1.2B | ||
| Q3 24 | $902.6M | $1.1B | ||
| Q2 24 | $1.0B | $1.2B | ||
| Q1 24 | $978.8M | $1.1B |
净利润AOSFLS
| Q4 25 | $125.4M | $-29.0M | ||
| Q3 25 | $132.0M | $219.6M | ||
| Q2 25 | $152.2M | $81.8M | ||
| Q1 25 | $136.6M | $73.9M | ||
| Q4 24 | $109.7M | $77.5M | ||
| Q3 24 | $120.1M | $58.4M | ||
| Q2 24 | $156.2M | $72.6M | ||
| Q1 24 | $147.6M | $74.2M |
毛利率AOSFLS
| Q4 25 | 38.4% | 34.8% | ||
| Q3 25 | 38.7% | 32.4% | ||
| Q2 25 | 39.3% | 34.2% | ||
| Q1 25 | 38.9% | 32.3% | ||
| Q4 24 | 37.1% | 31.5% | ||
| Q3 24 | 37.4% | 31.5% | ||
| Q2 24 | 38.7% | 31.6% | ||
| Q1 24 | 39.3% | 31.2% |
营业利润率AOSFLS
| Q4 25 | 17.9% | 3.5% | ||
| Q3 25 | 18.6% | 6.7% | ||
| Q2 25 | 20.4% | 12.3% | ||
| Q1 25 | 19.1% | 11.5% | ||
| Q4 24 | 10.1% | 10.6% | ||
| Q3 24 | 19.5% | 9.1% | ||
| Q2 24 | 21.9% | 10.5% | ||
| Q1 24 | 22.0% | 10.4% |
净利率AOSFLS
| Q4 25 | 13.7% | -2.4% | ||
| Q3 25 | 14.0% | 18.7% | ||
| Q2 25 | 15.0% | 6.9% | ||
| Q1 25 | 14.2% | 6.5% | ||
| Q4 24 | 12.0% | 6.6% | ||
| Q3 24 | 13.3% | 5.2% | ||
| Q2 24 | 15.2% | 6.3% | ||
| Q1 24 | 15.1% | 6.8% |
每股收益（稀释后）AOSFLS
| Q4 25 | $0.89 | $-0.21 | ||
| Q3 25 | $0.94 | $1.67 | ||
| Q2 25 | $1.07 | $0.62 | ||
| Q1 25 | $0.95 | $0.56 | ||
| Q4 24 | $0.75 | $0.59 | ||
| Q3 24 | $0.82 | $0.44 | ||
| Q2 24 | $1.06 | $0.55 | ||
| Q1 24 | $1.00 | $0.56 |
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 | $760.2M |
| 总债务越低越好 | $155.0M | $1.6B |
| 股东权益账面价值 | $1.9B | $2.2B |
| 总资产 | $3.1B | $5.7B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.72× |
8季度趋势，按日历期对齐
现金及短期投资AOSFLS
| Q4 25 | $193.2M | $760.2M | ||
| Q3 25 | $172.8M | — | ||
| Q2 25 | $177.9M | — | ||
| Q1 25 | $200.2M | — | ||
| Q4 24 | $276.1M | $675.4M | ||
| Q3 24 | $255.6M | — | ||
| Q2 24 | $233.3M | — | ||
| Q1 24 | $303.1M | — |
总债务AOSFLS
| Q4 25 | $155.0M | $1.6B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSFLS
| Q4 25 | $1.9B | $2.2B | ||
| Q3 25 | $1.8B | $2.3B | ||
| Q2 25 | $1.8B | $2.2B | ||
| Q1 25 | $1.9B | $2.1B | ||
| Q4 24 | $1.9B | $2.0B | ||
| Q3 24 | $1.9B | $2.1B | ||
| Q2 24 | $1.9B | $2.0B | ||
| Q1 24 | $1.9B | $2.0B |
总资产AOSFLS
| Q4 25 | $3.1B | $5.7B | ||
| Q3 25 | $3.2B | $5.8B | ||
| Q2 25 | $3.2B | $5.7B | ||
| Q1 25 | $3.3B | $5.5B | ||
| Q4 24 | $3.2B | $5.5B | ||
| Q3 24 | $3.2B | $5.3B | ||
| Q2 24 | $3.2B | $5.2B | ||
| Q1 24 | $3.2B | $5.1B |
负债/权益比AOSFLS
| Q4 25 | 0.08× | 0.72× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | 0.75× | ||
| 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 | $-174.0K |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $-25.6M |
| 自由现金流率自由现金流/营收 | 18.1% | -2.1% |
| 资本支出强度资本支出/营收 | 1.9% | 2.1% |
| 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 | $435.0M |
8季度趋势，按日历期对齐
经营现金流AOSFLS
| Q4 25 | $183.1M | $-174.0K | ||
| Q3 25 | $255.4M | $401.8M | ||
| Q2 25 | $139.6M | $154.1M | ||
| Q1 25 | $38.7M | $-49.9M | ||
| Q4 24 | $221.9M | $197.3M | ||
| Q3 24 | $195.9M | $178.5M | ||
| Q2 24 | $57.4M | $-12.8M | ||
| Q1 24 | $106.6M | $62.3M |
自由现金流AOSFLS
| Q4 25 | $165.5M | $-25.6M | ||
| Q3 25 | $240.6M | $384.7M | ||
| Q2 25 | $122.5M | $137.5M | ||
| Q1 25 | $17.4M | $-61.7M | ||
| Q4 24 | $191.3M | $168.5M | ||
| Q3 24 | $163.4M | $154.6M | ||
| Q2 24 | $34.5M | $-27.5M | ||
| Q1 24 | $84.6M | $48.6M |
自由现金流率AOSFLS
| Q4 25 | 18.1% | -2.1% | ||
| Q3 25 | 25.5% | 32.8% | ||
| Q2 25 | 12.1% | 11.6% | ||
| Q1 25 | 1.8% | -5.4% | ||
| Q4 24 | 21.0% | 14.3% | ||
| Q3 24 | 18.1% | 13.6% | ||
| Q2 24 | 3.4% | -2.4% | ||
| Q1 24 | 8.6% | 4.5% |
资本支出强度AOSFLS
| Q4 25 | 1.9% | 2.1% | ||
| Q3 25 | 1.6% | 1.5% | ||
| Q2 25 | 1.7% | 1.4% | ||
| Q1 25 | 2.2% | 1.0% | ||
| Q4 24 | 3.4% | 2.4% | ||
| Q3 24 | 3.6% | 2.1% | ||
| Q2 24 | 2.2% | 1.3% | ||
| Q1 24 | 2.2% | 1.3% |
现金转化率AOSFLS
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | 1.83× | ||
| Q2 25 | 0.92× | 1.89× | ||
| Q1 25 | 0.28× | -0.68× | ||
| Q4 24 | 2.02× | 2.55× | ||
| Q3 24 | 1.63× | 3.06× | ||
| Q2 24 | 0.37× | -0.18× | ||
| Q1 24 | 0.72× | 0.84× |
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% |
FLS
| Aftermarket Equipment | $563.4M | 46% |
| FCD | $390.3M | 32% |
| Original Equipment | $268.5M | 22% |
