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A.O.史密斯（AOS）与固瑞克（GGG）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固瑞克的1.5倍（$912.5M vs $593.2M）。固瑞克净利率更高（22.3% vs 13.7%，领先8.6%）。固瑞克同比增速更快（8.1% vs 0.0%）。固瑞克自由现金流更多（$184.3M vs $165.5M）。过去两年固瑞克的营收复合增速更高（9.8% 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。
固瑞克（Graco Inc.）是总部位于美国明尼苏达州明尼阿波利斯的工业企业，专注于流体处理系统及相关产品的研发与制造，旗下产品销往全球各地，广泛应用于多个工业领域。
AOS vs GGG — 直观对比
营收规模更大
AOS
是对方的1.5倍
$593.2M
营收增速更快
GGG
高出8.1%
0.0%
净利率更高
GGG
高出8.6%
13.7%
自由现金流更多
GGG
多$18.8M
$165.5M
两年增速更快
GGG
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $593.2M |
| 净利润 | $125.4M | $132.5M |
| 毛利率 | 38.4% | 51.7% |
| 营业利润率 | 17.9% | 26.7% |
| 净利率 | 13.7% | 22.3% |
| 营收同比 | 0.0% | 8.1% |
| 净利润同比 | 14.3% | 21.9% |
| 每股收益（稀释后） | $0.89 | $0.78 |
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AOSGGG
| Q4 25 | $912.5M | $593.2M | ||
| Q3 25 | $942.5M | $543.4M | ||
| Q2 25 | $1.0B | $571.8M | ||
| Q1 25 | $963.9M | $528.3M | ||
| Q4 24 | $912.4M | $548.7M | ||
| Q3 24 | $902.6M | $519.2M | ||
| Q2 24 | $1.0B | $553.2M | ||
| Q1 24 | $978.8M | $492.2M |
净利润AOSGGG
| Q4 25 | $125.4M | $132.5M | ||
| Q3 25 | $132.0M | $137.6M | ||
| Q2 25 | $152.2M | $127.6M | ||
| Q1 25 | $136.6M | $124.1M | ||
| Q4 24 | $109.7M | $108.7M | ||
| Q3 24 | $120.1M | $122.2M | ||
| Q2 24 | $156.2M | $133.0M | ||
| Q1 24 | $147.6M | $122.2M |
毛利率AOSGGG
| Q4 25 | 38.4% | 51.7% | ||
| Q3 25 | 38.7% | 53.2% | ||
| Q2 25 | 39.3% | 52.4% | ||
| Q1 25 | 38.9% | 52.6% | ||
| Q4 24 | 37.1% | 50.9% | ||
| Q3 24 | 37.4% | 53.2% | ||
| Q2 24 | 38.7% | 54.4% | ||
| Q1 24 | 39.3% | 54.1% |
营业利润率AOSGGG
| Q4 25 | 17.9% | 26.7% | ||
| Q3 25 | 18.6% | 30.3% | ||
| Q2 25 | 20.4% | 27.5% | ||
| Q1 25 | 19.1% | 27.3% | ||
| Q4 24 | 10.1% | 23.7% | ||
| Q3 24 | 19.5% | 28.1% | ||
| Q2 24 | 21.9% | 29.2% | ||
| Q1 24 | 22.0% | 27.0% |
净利率AOSGGG
| Q4 25 | 13.7% | 22.3% | ||
| Q3 25 | 14.0% | 25.3% | ||
| Q2 25 | 15.0% | 22.3% | ||
| Q1 25 | 14.2% | 23.5% | ||
| Q4 24 | 12.0% | 19.8% | ||
| Q3 24 | 13.3% | 23.5% | ||
| Q2 24 | 15.2% | 24.0% | ||
| Q1 24 | 15.1% | 24.8% |
每股收益（稀释后）AOSGGG
| Q4 25 | $0.89 | $0.78 | ||
| Q3 25 | $0.94 | $0.82 | ||
| Q2 25 | $1.07 | $0.76 | ||
| Q1 25 | $0.95 | $0.72 | ||
| Q4 24 | $0.75 | $0.63 | ||
| Q3 24 | $0.82 | $0.71 | ||
| Q2 24 | $1.06 | $0.77 | ||
| Q1 24 | $1.00 | $0.71 |
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 | $624.1M |
| 总债务越低越好 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $2.7B |
| 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AOSGGG
| Q4 25 | $193.2M | $624.1M | ||
| Q3 25 | $172.8M | $618.7M | ||
| Q2 25 | $177.9M | $534.9M | ||
| Q1 25 | $200.2M | $536.1M | ||
| Q4 24 | $276.1M | $675.3M | ||
| Q3 24 | $255.6M | $764.5M | ||
| Q2 24 | $233.3M | $666.0M | ||
| Q1 24 | $303.1M | $622.7M |
总债务AOSGGG
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSGGG
| Q4 25 | $1.9B | $2.7B | ||
| Q3 25 | $1.8B | $2.6B | ||
| Q2 25 | $1.8B | $2.5B | ||
| Q1 25 | $1.9B | $2.5B | ||
| Q4 24 | $1.9B | $2.6B | ||
| Q3 24 | $1.9B | $2.5B | ||
| Q2 24 | $1.9B | $2.4B | ||
| Q1 24 | $1.9B | $2.3B |
总资产AOSGGG
| Q4 25 | $3.1B | $3.3B | ||
| Q3 25 | $3.2B | $3.2B | ||
| Q2 25 | $3.2B | $3.0B | ||
| Q1 25 | $3.3B | $3.0B | ||
| Q4 24 | $3.2B | $3.1B | ||
| Q3 24 | $3.2B | $3.0B | ||
| Q2 24 | $3.2B | $2.9B | ||
| Q1 24 | $3.2B | $2.8B |
负债/权益比AOSGGG
| 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 | $196.3M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $184.3M |
| 自由现金流率自由现金流/营收 | 18.1% | 31.1% |
| 资本支出强度资本支出/营收 | 1.9% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.46× | 1.48× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $637.9M |
8季度趋势，按日历期对齐
经营现金流AOSGGG
| Q4 25 | $183.1M | $196.3M | ||
| Q3 25 | $255.4M | $179.2M | ||
| Q2 25 | $139.6M | $182.7M | ||
| Q1 25 | $38.7M | $125.4M | ||
| Q4 24 | $221.9M | $185.2M | ||
| Q3 24 | $195.9M | $178.6M | ||
| Q2 24 | $57.4M | $139.0M | ||
| Q1 24 | $106.6M | $118.9M |
自由现金流AOSGGG
| Q4 25 | $165.5M | $184.3M | ||
| Q3 25 | $240.6M | $175.7M | ||
| Q2 25 | $122.5M | $163.1M | ||
| Q1 25 | $17.4M | $114.8M | ||
| Q4 24 | $191.3M | $171.3M | ||
| Q3 24 | $163.4M | $159.2M | ||
| Q2 24 | $34.5M | $102.7M | ||
| Q1 24 | $84.6M | $81.7M |
自由现金流率AOSGGG
| Q4 25 | 18.1% | 31.1% | ||
| Q3 25 | 25.5% | 32.3% | ||
| Q2 25 | 12.1% | 28.5% | ||
| Q1 25 | 1.8% | 21.7% | ||
| Q4 24 | 21.0% | 31.2% | ||
| Q3 24 | 18.1% | 30.7% | ||
| Q2 24 | 3.4% | 18.6% | ||
| Q1 24 | 8.6% | 16.6% |
资本支出强度AOSGGG
| Q4 25 | 1.9% | 2.0% | ||
| Q3 25 | 1.6% | 0.6% | ||
| Q2 25 | 1.7% | 3.4% | ||
| Q1 25 | 2.2% | 2.0% | ||
| Q4 24 | 3.4% | 2.5% | ||
| Q3 24 | 3.6% | 3.7% | ||
| Q2 24 | 2.2% | 6.6% | ||
| Q1 24 | 2.2% | 7.6% |
现金转化率AOSGGG
| Q4 25 | 1.46× | 1.48× | ||
| Q3 25 | 1.93× | 1.30× | ||
| Q2 25 | 0.92× | 1.43× | ||
| Q1 25 | 0.28× | 1.01× | ||
| Q4 24 | 2.02× | 1.70× | ||
| Q3 24 | 1.63× | 1.46× | ||
| Q2 24 | 0.37× | 1.05× | ||
| Q1 24 | 0.72× | 0.97× |
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% |
GGG
| Industrial | $284.3M | 48% |
| Contractor | $265.5M | 45% |
| Other | $43.4M | 7% |
