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A.O.史密斯（AOS）与Fabrinet（FN）财务数据对比。点击上方公司名可切换其他公司
Fabrinet的季度营收约是A.O.史密斯的1.2倍（$1.1B vs $912.5M），A.O.史密斯净利率更高（13.7% vs 9.9%，领先3.8%），Fabrinet同比增速更快（35.9% vs 0.0%），A.O.史密斯自由现金流更多（$165.5M vs $-5.3M），过去两年Fabrinet的营收复合增速更高（24.4% 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。
Fabrinet（股票代码FN）为标普中型股400指数成分股。该指数由标普道琼斯指数公司维护，覆盖400家以美企为主的中等市值企业，若成分企业存在多类流通股，指数的成分股总量有时会超过400只。
AOS vs FN — 直观对比
营收规模更大
FN
是对方的1.2倍
$912.5M
营收增速更快
FN
高出35.9%
0.0%
净利率更高
AOS
高出3.8%
9.9%
自由现金流更多
AOS
多$170.8M
$-5.3M
两年增速更快
FN
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $1.1B |
| 净利润 | $125.4M | $112.6M |
| 毛利率 | 38.4% | 12.2% |
| 营业利润率 | 17.9% | 10.1% |
| 净利率 | 13.7% | 9.9% |
| 营收同比 | 0.0% | 35.9% |
| 净利润同比 | 14.3% | 30.0% |
| 每股收益（稀释后） | $0.89 | $3.11 |
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AOSFN
| Q4 25 | $912.5M | $1.1B | ||
| Q3 25 | $942.5M | $978.1M | ||
| Q2 25 | $1.0B | $909.7M | ||
| Q1 25 | $963.9M | $871.8M | ||
| Q4 24 | $912.4M | $833.6M | ||
| Q3 24 | $902.6M | $804.2M | ||
| Q2 24 | $1.0B | $753.3M | ||
| Q1 24 | $978.8M | $731.5M |
净利润AOSFN
| Q4 25 | $125.4M | $112.6M | ||
| Q3 25 | $132.0M | $95.9M | ||
| Q2 25 | $152.2M | $87.2M | ||
| Q1 25 | $136.6M | $81.3M | ||
| Q4 24 | $109.7M | $86.6M | ||
| Q3 24 | $120.1M | $77.4M | ||
| Q2 24 | $156.2M | $81.1M | ||
| Q1 24 | $147.6M | $80.9M |
毛利率AOSFN
| Q4 25 | 38.4% | 12.2% | ||
| Q3 25 | 38.7% | 11.9% | ||
| Q2 25 | 39.3% | 12.2% | ||
| Q1 25 | 38.9% | 11.7% | ||
| Q4 24 | 37.1% | 12.1% | ||
| Q3 24 | 37.4% | 12.3% | ||
| Q2 24 | 38.7% | 12.3% | ||
| Q1 24 | 39.3% | 12.4% |
营业利润率AOSFN
| Q4 25 | 17.9% | 10.1% | ||
| Q3 25 | 18.6% | 9.6% | ||
| Q2 25 | 20.4% | 9.8% | ||
| Q1 25 | 19.1% | 9.0% | ||
| Q4 24 | 10.1% | 9.5% | ||
| Q3 24 | 19.5% | 9.6% | ||
| Q2 24 | 21.9% | 9.7% | ||
| Q1 24 | 22.0% | 9.7% |
净利率AOSFN
| Q4 25 | 13.7% | 9.9% | ||
| Q3 25 | 14.0% | 9.8% | ||
| Q2 25 | 15.0% | 9.6% | ||
| Q1 25 | 14.2% | 9.3% | ||
| Q4 24 | 12.0% | 10.4% | ||
| Q3 24 | 13.3% | 9.6% | ||
| Q2 24 | 15.2% | 10.8% | ||
| Q1 24 | 15.1% | 11.1% |
每股收益（稀释后）AOSFN
| Q4 25 | $0.89 | $3.11 | ||
| Q3 25 | $0.94 | $2.66 | ||
| Q2 25 | $1.07 | $2.41 | ||
| Q1 25 | $0.95 | $2.25 | ||
| Q4 24 | $0.75 | $2.38 | ||
| Q3 24 | $0.82 | $2.13 | ||
| Q2 24 | $1.06 | $2.22 | ||
| Q1 24 | $1.00 | $2.21 |
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 | $960.8M |
| 总债务越低越好 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $2.2B |
| 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AOSFN
| Q4 25 | $193.2M | $960.8M | ||
| Q3 25 | $172.8M | $968.8M | ||
| Q2 25 | $177.9M | $934.2M | ||
| Q1 25 | $200.2M | $950.7M | ||
| Q4 24 | $276.1M | $934.6M | ||
| Q3 24 | $255.6M | $908.9M | ||
| Q2 24 | $233.3M | $858.6M | ||
| Q1 24 | $303.1M | $794.0M |
总债务AOSFN
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSFN
| Q4 25 | $1.9B | $2.2B | ||
| Q3 25 | $1.8B | $2.1B | ||
| Q2 25 | $1.8B | $2.0B | ||
| Q1 25 | $1.9B | $1.9B | ||
| Q4 24 | $1.9B | $1.8B | ||
| Q3 24 | $1.9B | $1.8B | ||
| Q2 24 | $1.9B | $1.7B | ||
| Q1 24 | $1.9B | $1.7B |
总资产AOSFN
| Q4 25 | $3.1B | $3.3B | ||
| Q3 25 | $3.2B | $3.0B | ||
| Q2 25 | $3.2B | $2.8B | ||
| Q1 25 | $3.3B | $2.6B | ||
| Q4 24 | $3.2B | $2.5B | ||
| Q3 24 | $3.2B | $2.4B | ||
| Q2 24 | $3.2B | $2.3B | ||
| Q1 24 | $3.2B | $2.2B |
负债/权益比AOSFN
| 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 | $46.3M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $-5.3M |
| 自由现金流率自由现金流/营收 | 18.1% | -0.5% |
| 资本支出强度资本支出/营收 | 1.9% | 4.6% |
| 现金转化率经营现金流/净利润 | 1.46× | 0.41× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $102.3M |
8季度趋势，按日历期对齐
经营现金流AOSFN
| Q4 25 | $183.1M | $46.3M | ||
| Q3 25 | $255.4M | $102.6M | ||
| Q2 25 | $139.6M | $55.1M | ||
| Q1 25 | $38.7M | $74.2M | ||
| Q4 24 | $221.9M | $115.9M | ||
| Q3 24 | $195.9M | $83.2M | ||
| Q2 24 | $57.4M | $83.1M | ||
| Q1 24 | $106.6M | $100.9M |
自由现金流AOSFN
| Q4 25 | $165.5M | $-5.3M | ||
| Q3 25 | $240.6M | $57.3M | ||
| Q2 25 | $122.5M | $4.7M | ||
| Q1 25 | $17.4M | $45.7M | ||
| Q4 24 | $191.3M | $94.0M | ||
| Q3 24 | $163.4M | $62.9M | ||
| Q2 24 | $34.5M | $70.4M | ||
| Q1 24 | $84.6M | $87.3M |
自由现金流率AOSFN
| Q4 25 | 18.1% | -0.5% | ||
| Q3 25 | 25.5% | 5.9% | ||
| Q2 25 | 12.1% | 0.5% | ||
| Q1 25 | 1.8% | 5.2% | ||
| Q4 24 | 21.0% | 11.3% | ||
| Q3 24 | 18.1% | 7.8% | ||
| Q2 24 | 3.4% | 9.3% | ||
| Q1 24 | 8.6% | 11.9% |
资本支出强度AOSFN
| Q4 25 | 1.9% | 4.6% | ||
| Q3 25 | 1.6% | 4.6% | ||
| Q2 25 | 1.7% | 5.5% | ||
| Q1 25 | 2.2% | 3.3% | ||
| Q4 24 | 3.4% | 2.6% | ||
| Q3 24 | 3.6% | 2.5% | ||
| Q2 24 | 2.2% | 1.7% | ||
| Q1 24 | 2.2% | 1.9% |
现金转化率AOSFN
| Q4 25 | 1.46× | 0.41× | ||
| Q3 25 | 1.93× | 1.07× | ||
| Q2 25 | 0.92× | 0.63× | ||
| Q1 25 | 0.28× | 0.91× | ||
| Q4 24 | 2.02× | 1.34× | ||
| Q3 24 | 1.63× | 1.07× | ||
| Q2 24 | 0.37× | 1.02× | ||
| Q1 24 | 0.72× | 1.25× |
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% |
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
