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A.O.史密斯（AOS）与六旗（FUN）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六旗的1.5倍（$945.6M vs $650.1M），A.O.史密斯净利率更高（12.5% vs -14.2%，领先26.7%），A.O.史密斯自由现金流更多（$118.9M vs $-109.3M）
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。
六旗娱乐是总部位于美国北卡罗来纳州夏洛特的游乐园运营企业，由雪松会与原六旗公司于2024年7月1日对等合并而成，是全球最大的区域性游乐园运营商。旗下共运营42个场地，包含27座游乐园、15座水上乐园，配套9处 onsite 度假物业。
AOS vs FUN — 直观对比
营收规模更大
AOS
是对方的1.5倍
$650.1M
净利率更高
AOS
高出26.7%
-14.2%
自由现金流更多
AOS
多$228.2M
$-109.3M
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $945.6M | $650.1M |
| 净利润 | $118.0M | $-92.4M |
| 毛利率 | 38.7% | 91.4% |
| 营业利润率 | — | -3.8% |
| 净利率 | 12.5% | -14.2% |
| 营收同比 | -2.0% | — |
| 净利润同比 | -14.0% | — |
| 每股收益（稀释后） | $0.85 | $-0.93 |
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AOSFUN
| Q1 26 | $945.6M | — | ||
| Q4 25 | $912.5M | $650.1M | ||
| Q3 25 | $942.5M | $1.3B | ||
| Q2 25 | $1.0B | $930.4M | ||
| Q1 25 | $963.9M | $202.1M | ||
| Q4 24 | $912.4M | — | ||
| Q3 24 | $902.6M | $1.3B | ||
| Q2 24 | $1.0B | $571.6M |
净利润AOSFUN
| Q1 26 | $118.0M | — | ||
| Q4 25 | $125.4M | $-92.4M | ||
| Q3 25 | $132.0M | $-1.2B | ||
| Q2 25 | $152.2M | $-99.6M | ||
| Q1 25 | $136.6M | $-219.7M | ||
| Q4 24 | $109.7M | — | ||
| Q3 24 | $120.1M | $111.0M | ||
| Q2 24 | $156.2M | $55.6M |
毛利率AOSFUN
| Q1 26 | 38.7% | — | ||
| Q4 25 | 38.4% | 91.4% | ||
| Q3 25 | 38.7% | 91.6% | ||
| Q2 25 | 39.3% | 91.3% | ||
| Q1 25 | 38.9% | 89.3% | ||
| Q4 24 | 37.1% | — | ||
| Q3 24 | 37.4% | 91.9% | ||
| Q2 24 | 38.7% | 90.7% |
营业利润率AOSFUN
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | -3.8% | ||
| Q3 25 | 18.6% | -83.7% | ||
| Q2 25 | 20.4% | 8.0% | ||
| Q1 25 | 19.1% | -158.9% | ||
| Q4 24 | 10.1% | — | ||
| Q3 24 | 19.5% | 19.5% | ||
| Q2 24 | 21.9% | 21.6% |
净利率AOSFUN
| Q1 26 | 12.5% | — | ||
| Q4 25 | 13.7% | -14.2% | ||
| Q3 25 | 14.0% | -90.1% | ||
| Q2 25 | 15.0% | -10.7% | ||
| Q1 25 | 14.2% | -108.7% | ||
| Q4 24 | 12.0% | — | ||
| Q3 24 | 13.3% | 8.2% | ||
| Q2 24 | 15.2% | 9.7% |
每股收益（稀释后）AOSFUN
| Q1 26 | $0.85 | — | ||
| Q4 25 | $0.89 | $-0.93 | ||
| Q3 25 | $0.94 | $-11.77 | ||
| Q2 25 | $1.07 | $-0.99 | ||
| Q1 25 | $0.95 | $-2.20 | ||
| Q4 24 | $0.75 | — | ||
| Q3 24 | $0.82 | $1.10 | ||
| Q2 24 | $1.06 | — |
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 | $185.2M | $91.1M |
| 总债务越低越好 | $574.2M | $5.2B |
| 股东权益账面价值 | $1.9B | $549.8M |
| 总资产 | $3.7B | $7.8B |
| 负债/权益比越低杠杆越低 | 0.31× | 9.40× |
8季度趋势，按日历期对齐
现金及短期投资AOSFUN
| Q1 26 | $185.2M | — | ||
| Q4 25 | $193.2M | $91.1M | ||
| Q3 25 | $172.8M | $70.7M | ||
| Q2 25 | $177.9M | $107.4M | ||
| Q1 25 | $200.2M | $61.5M | ||
| Q4 24 | $276.1M | — | ||
| Q3 24 | $255.6M | $89.7M | ||
| Q2 24 | $233.3M | $52.9M |
总债务AOSFUN
| Q1 26 | $574.2M | — | ||
| Q4 25 | $155.0M | $5.2B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $5.3B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $2.3B |
股东权益AOSFUN
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $549.8M | ||
| Q3 25 | $1.8B | $614.3M | ||
| Q2 25 | $1.8B | $1.8B | ||
| Q1 25 | $1.9B | $1.8B | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.9B | $2.3B | ||
| Q2 24 | $1.9B | — |
总资产AOSFUN
| Q1 26 | $3.7B | — | ||
| Q4 25 | $3.1B | $7.8B | ||
| Q3 25 | $3.2B | $7.9B | ||
| Q2 25 | $3.2B | $9.5B | ||
| Q1 25 | $3.3B | $9.2B | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.2B | $9.4B | ||
| Q2 24 | $3.2B | $2.3B |
负债/权益比AOSFUN
| Q1 26 | 0.31× | — | ||
| Q4 25 | 0.08× | 9.40× | ||
| Q3 25 | — | 8.16× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | — | 2.75× | ||
| Q4 24 | 0.10× | — | ||
| Q3 24 | — | 1.95× | ||
| Q2 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 | — | $-37.7M |
| 自由现金流经营现金流 - 资本支出 | $118.9M | $-109.3M |
| 自由现金流率自由现金流/营收 | 12.6% | -16.8% |
| 资本支出强度资本支出/营收 | 1.1% | 11.0% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $647.5M | $-152.2M |
8季度趋势，按日历期对齐
经营现金流AOSFUN
| Q1 26 | — | — | ||
| Q4 25 | $183.1M | $-37.7M | ||
| Q3 25 | $255.4M | $356.2M | ||
| Q2 25 | $139.6M | $187.0M | ||
| Q1 25 | $38.7M | $-178.0M | ||
| Q4 24 | $221.9M | — | ||
| Q3 24 | $195.9M | $337.4M | ||
| Q2 24 | $57.4M | — |
自由现金流AOSFUN
| Q1 26 | $118.9M | — | ||
| Q4 25 | $165.5M | $-109.3M | ||
| Q3 25 | $240.6M | $256.2M | ||
| Q2 25 | $122.5M | $18.8M | ||
| Q1 25 | $17.4M | $-318.0M | ||
| Q4 24 | $191.3M | — | ||
| Q3 24 | $163.4M | $227.7M | ||
| Q2 24 | $34.5M | — |
自由现金流率AOSFUN
| Q1 26 | 12.6% | — | ||
| Q4 25 | 18.1% | -16.8% | ||
| Q3 25 | 25.5% | 19.4% | ||
| Q2 25 | 12.1% | 2.0% | ||
| Q1 25 | 1.8% | -157.4% | ||
| Q4 24 | 21.0% | — | ||
| Q3 24 | 18.1% | 16.9% | ||
| Q2 24 | 3.4% | — |
资本支出强度AOSFUN
| Q1 26 | 1.1% | — | ||
| Q4 25 | 1.9% | 11.0% | ||
| Q3 25 | 1.6% | 7.6% | ||
| Q2 25 | 1.7% | 18.1% | ||
| Q1 25 | 2.2% | 69.3% | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.6% | 8.1% | ||
| Q2 24 | 2.2% | — |
现金转化率AOSFUN
| Q1 26 | — | — | ||
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.63× | 3.04× | ||
| Q2 24 | 0.37× | — |
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
暂无分部数据
FUN
| Admission | $327.4M | 50% |
| Food Merchandiseand Gaming | $205.7M | 32% |
| Accommodations Extra Charge Products And Other | $117.0M | 18% |
