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A.O.史密斯（AOS）与盖茨工业（GTES）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盖茨工业的1.1倍（$912.5M vs $856.2M）。A.O.史密斯净利率更高（13.7% vs 6.0%，领先7.8%）。盖茨工业同比增速更快（3.2% vs 0.0%）。盖茨工业自由现金流更多（$251.0M vs $165.5M）。过去两年盖茨工业的营收复合增速更高（-0.4% 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。
盖茨工业总部位于美国科罗拉多州丹佛市，是动力传动带及流体动力产品的专业制造商，产品广泛应用于各类工业和汽车领域。公司员工规模超1.5万人，在美洲、欧洲、亚洲、澳洲及中东均设有销售和生产基地。
AOS vs GTES — 直观对比
营收规模更大
AOS
是对方的1.1倍
$856.2M
营收增速更快
GTES
高出3.2%
0.0%
净利率更高
AOS
高出7.8%
6.0%
自由现金流更多
GTES
多$85.5M
$165.5M
两年增速更快
GTES
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $856.2M |
| 净利润 | $125.4M | $51.3M |
| 毛利率 | 38.4% | 38.0% |
| 营业利润率 | 17.9% | 12.8% |
| 净利率 | 13.7% | 6.0% |
| 营收同比 | 0.0% | 3.2% |
| 净利润同比 | 14.3% | 40.2% |
| 每股收益（稀释后） | $0.89 | $0.19 |
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AOSGTES
| Q4 25 | $912.5M | $856.2M | ||
| Q3 25 | $942.5M | $855.7M | ||
| Q2 25 | $1.0B | $883.7M | ||
| Q1 25 | $963.9M | $847.6M | ||
| Q4 24 | $912.4M | $829.4M | ||
| Q3 24 | $902.6M | $830.7M | ||
| Q2 24 | $1.0B | $885.5M | ||
| Q1 24 | $978.8M | $862.6M |
净利润AOSGTES
| Q4 25 | $125.4M | $51.3M | ||
| Q3 25 | $132.0M | $81.6M | ||
| Q2 25 | $152.2M | $56.5M | ||
| Q1 25 | $136.6M | $62.0M | ||
| Q4 24 | $109.7M | $36.6M | ||
| Q3 24 | $120.1M | $47.6M | ||
| Q2 24 | $156.2M | $70.7M | ||
| Q1 24 | $147.6M | $40.0M |
毛利率AOSGTES
| Q4 25 | 38.4% | 38.0% | ||
| Q3 25 | 38.7% | 39.9% | ||
| Q2 25 | 39.3% | 40.8% | ||
| Q1 25 | 38.9% | 40.7% | ||
| Q4 24 | 37.1% | 40.4% | ||
| Q3 24 | 37.4% | 40.4% | ||
| Q2 24 | 38.7% | 40.4% | ||
| Q1 24 | 39.3% | 38.3% |
营业利润率AOSGTES
| Q4 25 | 17.9% | 12.8% | ||
| Q3 25 | 18.6% | 13.5% | ||
| Q2 25 | 20.4% | 13.1% | ||
| Q1 25 | 19.1% | 14.7% | ||
| Q4 24 | 10.1% | 13.6% | ||
| Q3 24 | 19.5% | 13.6% | ||
| Q2 24 | 21.9% | 15.4% | ||
| Q1 24 | 22.0% | 13.5% |
净利率AOSGTES
| Q4 25 | 13.7% | 6.0% | ||
| Q3 25 | 14.0% | 9.5% | ||
| Q2 25 | 15.0% | 6.4% | ||
| Q1 25 | 14.2% | 7.3% | ||
| Q4 24 | 12.0% | 4.4% | ||
| Q3 24 | 13.3% | 5.7% | ||
| Q2 24 | 15.2% | 8.0% | ||
| Q1 24 | 15.1% | 4.6% |
每股收益（稀释后）AOSGTES
| Q4 25 | $0.89 | $0.19 | ||
| Q3 25 | $0.94 | $0.31 | ||
| Q2 25 | $1.07 | $0.22 | ||
| Q1 25 | $0.95 | $0.24 | ||
| Q4 24 | $0.75 | $0.15 | ||
| Q3 24 | $0.82 | $0.18 | ||
| Q2 24 | $1.06 | $0.26 | ||
| Q1 24 | $1.00 | $0.15 |
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 | $812.1M |
| 总债务越低越好 | $155.0M | $2.2B |
| 股东权益账面价值 | $1.9B | $3.3B |
| 总资产 | $3.1B | $7.2B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.67× |
8季度趋势，按日历期对齐
现金及短期投资AOSGTES
| Q4 25 | $193.2M | $812.1M | ||
| Q3 25 | $172.8M | $689.4M | ||
| Q2 25 | $177.9M | $719.7M | ||
| Q1 25 | $200.2M | $640.2M | ||
| Q4 24 | $276.1M | $682.0M | ||
| Q3 24 | $255.6M | $574.4M | ||
| Q2 24 | $233.3M | $579.7M | ||
| Q1 24 | $303.1M | $522.2M |
总债务AOSGTES
| Q4 25 | $155.0M | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | $193.2M | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.3B |
股东权益AOSGTES
| Q4 25 | $1.9B | $3.3B | ||
| Q3 25 | $1.8B | $3.4B | ||
| Q2 25 | $1.8B | $3.3B | ||
| Q1 25 | $1.9B | $3.1B | ||
| Q4 24 | $1.9B | $3.0B | ||
| Q3 24 | $1.9B | $3.1B | ||
| Q2 24 | $1.9B | $3.2B | ||
| Q1 24 | $1.9B | $3.2B |
总资产AOSGTES
| Q4 25 | $3.1B | $7.2B | ||
| Q3 25 | $3.2B | $7.1B | ||
| Q2 25 | $3.2B | $7.2B | ||
| Q1 25 | $3.3B | $6.9B | ||
| Q4 24 | $3.2B | $6.8B | ||
| Q3 24 | $3.2B | $7.1B | ||
| Q2 24 | $3.2B | $7.0B | ||
| Q1 24 | $3.2B | $7.0B |
负债/权益比AOSGTES
| Q4 25 | 0.08× | 0.67× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 0.10× | 0.78× | ||
| Q3 24 | — | 0.76× | ||
| Q2 24 | — | 0.73× | ||
| Q1 24 | — | 0.74× |
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 | $269.8M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $251.0M |
| 自由现金流率自由现金流/营收 | 18.1% | 29.3% |
| 资本支出强度资本支出/营收 | 1.9% | 2.2% |
| 现金转化率经营现金流/净利润 | 1.46× | 5.26× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $404.9M |
8季度趋势，按日历期对齐
经营现金流AOSGTES
| Q4 25 | $183.1M | $269.8M | ||
| Q3 25 | $255.4M | $98.0M | ||
| Q2 25 | $139.6M | $103.0M | ||
| Q1 25 | $38.7M | $7.3M | ||
| Q4 24 | $221.9M | $190.9M | ||
| Q3 24 | $195.9M | $115.9M | ||
| Q2 24 | $57.4M | $93.8M | ||
| Q1 24 | $106.6M | $-21.0M |
自由现金流AOSGTES
| Q4 25 | $165.5M | $251.0M | ||
| Q3 25 | $240.6M | $80.5M | ||
| Q2 25 | $122.5M | $83.6M | ||
| Q1 25 | $17.4M | $-10.2M | ||
| Q4 24 | $191.3M | $167.6M | ||
| Q3 24 | $163.4M | $94.0M | ||
| Q2 24 | $34.5M | $71.9M | ||
| Q1 24 | $84.6M | $-37.0M |
自由现金流率AOSGTES
| Q4 25 | 18.1% | 29.3% | ||
| Q3 25 | 25.5% | 9.4% | ||
| Q2 25 | 12.1% | 9.5% | ||
| Q1 25 | 1.8% | -1.2% | ||
| Q4 24 | 21.0% | 20.2% | ||
| Q3 24 | 18.1% | 11.3% | ||
| Q2 24 | 3.4% | 8.1% | ||
| Q1 24 | 8.6% | -4.3% |
资本支出强度AOSGTES
| Q4 25 | 1.9% | 2.2% | ||
| Q3 25 | 1.6% | 2.0% | ||
| Q2 25 | 1.7% | 2.2% | ||
| Q1 25 | 2.2% | 2.1% | ||
| Q4 24 | 3.4% | 2.8% | ||
| Q3 24 | 3.6% | 2.6% | ||
| Q2 24 | 2.2% | 2.5% | ||
| Q1 24 | 2.2% | 1.9% |
现金转化率AOSGTES
| Q4 25 | 1.46× | 5.26× | ||
| Q3 25 | 1.93× | 1.20× | ||
| Q2 25 | 0.92× | 1.82× | ||
| Q1 25 | 0.28× | 0.12× | ||
| Q4 24 | 2.02× | 5.22× | ||
| Q3 24 | 1.63× | 2.43× | ||
| Q2 24 | 0.37× | 1.33× | ||
| Q1 24 | 0.72× | -0.53× |
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% |
GTES
| Power Transmission Segment | $536.5M | 63% |
| Fluid Power Segment | $319.7M | 37% |
