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A.O.史密斯（AOS）与Frontdoor, Inc.（FTDR）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Frontdoor, Inc.的2.1倍（$912.5M vs $432.0M）。A.O.史密斯净利率更高（13.7% vs 0.2%，领先13.5%）。Frontdoor, Inc.同比增速更快（12.8% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $95.0M）。过去两年Frontdoor, Inc.的营收复合增速更高（6.9% 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。
Frontdoor, Inc.是领先的家庭服务与保障平台，主要面向美国市场运营。其提供可定制的家庭保修计划，覆盖家电、暖通空调、管道、电气系统的维修更换，同时支持用户按需对接经预先审核的本地服务商，满足住宅维护及维修需求。
AOS vs FTDR — 直观对比
营收规模更大
AOS
是对方的2.1倍
$432.0M
营收增速更快
FTDR
高出12.8%
0.0%
净利率更高
AOS
高出13.5%
0.2%
自由现金流更多
AOS
多$70.5M
$95.0M
两年增速更快
FTDR
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $432.0M |
| 净利润 | $125.4M | $1.0M |
| 毛利率 | 38.4% | 49.3% |
| 营业利润率 | 17.9% | 0.5% |
| 净利率 | 13.7% | 0.2% |
| 营收同比 | 0.0% | 12.8% |
| 净利润同比 | 14.3% | -88.9% |
| 每股收益（稀释后） | $0.89 | $0.03 |
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AOSFTDR
| Q4 25 | $912.5M | $432.0M | ||
| Q3 25 | $942.5M | $618.0M | ||
| Q2 25 | $1.0B | $617.0M | ||
| Q1 25 | $963.9M | $426.0M | ||
| Q4 24 | $912.4M | $383.0M | ||
| Q3 24 | $902.6M | $540.0M | ||
| Q2 24 | $1.0B | $542.0M | ||
| Q1 24 | $978.8M | $378.0M |
净利润AOSFTDR
| Q4 25 | $125.4M | $1.0M | ||
| Q3 25 | $132.0M | $106.0M | ||
| Q2 25 | $152.2M | $111.0M | ||
| Q1 25 | $136.6M | $37.0M | ||
| Q4 24 | $109.7M | $9.0M | ||
| Q3 24 | $120.1M | $100.0M | ||
| Q2 24 | $156.2M | $92.0M | ||
| Q1 24 | $147.6M | $34.0M |
毛利率AOSFTDR
| Q4 25 | 38.4% | 49.3% | ||
| Q3 25 | 38.7% | 57.1% | ||
| Q2 25 | 39.3% | 57.7% | ||
| Q1 25 | 38.9% | 55.2% | ||
| Q4 24 | 37.1% | 48.0% | ||
| Q3 24 | 37.4% | 56.7% | ||
| Q2 24 | 38.7% | 56.5% | ||
| Q1 24 | 39.3% | 51.6% |
营业利润率AOSFTDR
| Q4 25 | 17.9% | 0.5% | ||
| Q3 25 | 18.6% | 23.0% | ||
| Q2 25 | 20.4% | 23.7% | ||
| Q1 25 | 19.1% | 11.3% | ||
| Q4 24 | 10.1% | 1.6% | ||
| Q3 24 | 19.5% | 24.8% | ||
| Q2 24 | 21.9% | 22.9% | ||
| Q1 24 | 22.0% | 11.9% |
净利率AOSFTDR
| Q4 25 | 13.7% | 0.2% | ||
| Q3 25 | 14.0% | 17.2% | ||
| Q2 25 | 15.0% | 18.0% | ||
| Q1 25 | 14.2% | 8.7% | ||
| Q4 24 | 12.0% | 2.3% | ||
| Q3 24 | 13.3% | 18.5% | ||
| Q2 24 | 15.2% | 17.0% | ||
| Q1 24 | 15.1% | 9.0% |
每股收益（稀释后）AOSFTDR
| Q4 25 | $0.89 | $0.03 | ||
| Q3 25 | $0.94 | $1.42 | ||
| Q2 25 | $1.07 | $1.48 | ||
| Q1 25 | $0.95 | $0.49 | ||
| Q4 24 | $0.75 | $0.10 | ||
| Q3 24 | $0.82 | $1.30 | ||
| Q2 24 | $1.06 | $1.18 | ||
| Q1 24 | $1.00 | $0.43 |
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 | $566.0M |
| 总债务越低越好 | $155.0M | $1.1B |
| 股东权益账面价值 | $1.9B | $242.0M |
| 总资产 | $3.1B | $2.1B |
| 负债/权益比越低杠杆越低 | 0.08× | 4.73× |
8季度趋势，按日历期对齐
现金及短期投资AOSFTDR
| Q4 25 | $193.2M | $566.0M | ||
| Q3 25 | $172.8M | $563.0M | ||
| Q2 25 | $177.9M | $562.0M | ||
| Q1 25 | $200.2M | $506.0M | ||
| Q4 24 | $276.1M | $436.0M | ||
| Q3 24 | $255.6M | $375.0M | ||
| Q2 24 | $233.3M | $419.0M | ||
| Q1 24 | $303.1M | $378.0M |
总债务AOSFTDR
| Q4 25 | $155.0M | $1.1B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $193.2M | $1.2B | ||
| Q3 24 | — | $565.0M | ||
| Q2 24 | — | $569.0M | ||
| Q1 24 | — | $573.0M |
股东权益AOSFTDR
| Q4 25 | $1.9B | $242.0M | ||
| Q3 25 | $1.8B | $316.0M | ||
| Q2 25 | $1.8B | $254.0M | ||
| Q1 25 | $1.9B | $198.0M | ||
| Q4 24 | $1.9B | $239.0M | ||
| Q3 24 | $1.9B | $261.0M | ||
| Q2 24 | $1.9B | $214.0M | ||
| Q1 24 | $1.9B | $162.0M |
总资产AOSFTDR
| Q4 25 | $3.1B | $2.1B | ||
| Q3 25 | $3.2B | $2.2B | ||
| Q2 25 | $3.2B | $2.2B | ||
| Q1 25 | $3.3B | $2.1B | ||
| Q4 24 | $3.2B | $2.1B | ||
| Q3 24 | $3.2B | $1.2B | ||
| Q2 24 | $3.2B | $1.2B | ||
| Q1 24 | $3.2B | $1.1B |
负债/权益比AOSFTDR
| Q4 25 | 0.08× | 4.73× | ||
| Q3 25 | — | 3.64× | ||
| Q2 25 | — | 4.56× | ||
| Q1 25 | — | 5.88× | ||
| Q4 24 | 0.10× | 4.90× | ||
| Q3 24 | — | 2.16× | ||
| Q2 24 | — | 2.66× | ||
| Q1 24 | — | 3.54× |
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 | $101.0M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $95.0M |
| 自由现金流率自由现金流/营收 | 18.1% | 22.0% |
| 资本支出强度资本支出/营收 | 1.9% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.46× | 101.00× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $390.0M |
8季度趋势，按日历期对齐
经营现金流AOSFTDR
| Q4 25 | $183.1M | $101.0M | ||
| Q3 25 | $255.4M | $64.0M | ||
| Q2 25 | $139.6M | $127.0M | ||
| Q1 25 | $38.7M | $124.0M | ||
| Q4 24 | $221.9M | $58.0M | ||
| Q3 24 | $195.9M | $25.0M | ||
| Q2 24 | $57.4M | $103.0M | ||
| Q1 24 | $106.6M | $84.0M |
自由现金流AOSFTDR
| Q4 25 | $165.5M | $95.0M | ||
| Q3 25 | $240.6M | $58.0M | ||
| Q2 25 | $122.5M | $120.0M | ||
| Q1 25 | $17.4M | $117.0M | ||
| Q4 24 | $191.3M | $50.0M | ||
| Q3 24 | $163.4M | $16.0M | ||
| Q2 24 | $34.5M | $91.0M | ||
| Q1 24 | $84.6M | $74.0M |
自由现金流率AOSFTDR
| Q4 25 | 18.1% | 22.0% | ||
| Q3 25 | 25.5% | 9.4% | ||
| Q2 25 | 12.1% | 19.4% | ||
| Q1 25 | 1.8% | 27.5% | ||
| Q4 24 | 21.0% | 13.1% | ||
| Q3 24 | 18.1% | 3.0% | ||
| Q2 24 | 3.4% | 16.8% | ||
| Q1 24 | 8.6% | 19.6% |
资本支出强度AOSFTDR
| Q4 25 | 1.9% | 1.4% | ||
| Q3 25 | 1.6% | 1.0% | ||
| Q2 25 | 1.7% | 1.1% | ||
| Q1 25 | 2.2% | 1.6% | ||
| Q4 24 | 3.4% | 2.1% | ||
| Q3 24 | 3.6% | 1.7% | ||
| Q2 24 | 2.2% | 2.2% | ||
| Q1 24 | 2.2% | 2.6% |
现金转化率AOSFTDR
| Q4 25 | 1.46× | 101.00× | ||
| Q3 25 | 1.93× | 0.60× | ||
| Q2 25 | 0.92× | 1.14× | ||
| Q1 25 | 0.28× | 3.35× | ||
| Q4 24 | 2.02× | 6.44× | ||
| Q3 24 | 1.63× | 0.25× | ||
| Q2 24 | 0.37× | 1.12× | ||
| Q1 24 | 0.72× | 2.47× |
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% |
FTDR
| Renewals | $332.0M | 77% |
| Other | $43.0M | 10% |
| Direct To Consumer Home Service Plan Contracts | $30.0M | 7% |
| Real Estate Home Service Plan Contracts | $27.0M | 6% |
