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A.O.史密斯（AOS）与Hayward Holdings, Inc.（HAYW）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Hayward Holdings, Inc.的2.6倍（$912.5M vs $349.4M）。Hayward Holdings, Inc.净利率更高（19.6% vs 13.7%，领先5.8%）。Hayward Holdings, Inc.同比增速更快（6.8% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $-35.8M）。过去两年Hayward Holdings, Inc.的营收复合增速更高（28.2% 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。
海沃德控股前身为巴特利特-海沃德公司，是美国本土金属加工企业，总部位于马里兰州巴尔的摩，业务涵盖大型铸造、制造及工程建造板块。公司创立于19世纪30年代，1925年之前保持独立运营，1927年被科伯斯公司收购，之后长期作为其旗下事业部开展业务。
AOS vs HAYW — 直观对比
营收规模更大
AOS
是对方的2.6倍
$349.4M
营收增速更快
HAYW
高出6.8%
0.0%
净利率更高
HAYW
高出5.8%
13.7%
自由现金流更多
AOS
多$201.3M
$-35.8M
两年增速更快
HAYW
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $349.4M |
| 净利润 | $125.4M | $68.4M |
| 毛利率 | 38.4% | 40.7% |
| 营业利润率 | 17.9% | 25.0% |
| 净利率 | 13.7% | 19.6% |
| 营收同比 | 0.0% | 6.8% |
| 净利润同比 | 14.3% | 25.0% |
| 每股收益（稀释后） | $0.89 | $0.31 |
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AOSHAYW
| Q4 25 | $912.5M | $349.4M | ||
| Q3 25 | $942.5M | $244.3M | ||
| Q2 25 | $1.0B | $299.6M | ||
| Q1 25 | $963.9M | $228.8M | ||
| Q4 24 | $912.4M | $327.1M | ||
| Q3 24 | $902.6M | $227.6M | ||
| Q2 24 | $1.0B | $284.4M | ||
| Q1 24 | $978.8M | $212.6M |
净利润AOSHAYW
| Q4 25 | $125.4M | $68.4M | ||
| Q3 25 | $132.0M | $24.0M | ||
| Q2 25 | $152.2M | $44.8M | ||
| Q1 25 | $136.6M | $14.3M | ||
| Q4 24 | $109.7M | $54.7M | ||
| Q3 24 | $120.1M | $16.5M | ||
| Q2 24 | $156.2M | $37.6M | ||
| Q1 24 | $147.6M | $9.8M |
毛利率AOSHAYW
| Q4 25 | 38.4% | 40.7% | ||
| Q3 25 | 38.7% | 51.2% | ||
| Q2 25 | 39.3% | 52.7% | ||
| Q1 25 | 38.9% | 49.5% | ||
| Q4 24 | 37.1% | 51.4% | ||
| Q3 24 | 37.4% | 49.7% | ||
| Q2 24 | 38.7% | 51.0% | ||
| Q1 24 | 39.3% | 49.2% |
营业利润率AOSHAYW
| Q4 25 | 17.9% | 25.0% | ||
| Q3 25 | 18.6% | 16.8% | ||
| Q2 25 | 20.4% | 23.8% | ||
| Q1 25 | 19.1% | 14.6% | ||
| Q4 24 | 10.1% | 23.4% | ||
| Q3 24 | 19.5% | 14.7% | ||
| Q2 24 | 21.9% | 23.9% | ||
| Q1 24 | 22.0% | 14.5% |
净利率AOSHAYW
| Q4 25 | 13.7% | 19.6% | ||
| Q3 25 | 14.0% | 9.8% | ||
| Q2 25 | 15.0% | 15.0% | ||
| Q1 25 | 14.2% | 6.3% | ||
| Q4 24 | 12.0% | 16.7% | ||
| Q3 24 | 13.3% | 7.3% | ||
| Q2 24 | 15.2% | 13.2% | ||
| Q1 24 | 15.1% | 4.6% |
每股收益（稀释后）AOSHAYW
| Q4 25 | $0.89 | $0.31 | ||
| Q3 25 | $0.94 | $0.11 | ||
| Q2 25 | $1.07 | $0.20 | ||
| Q1 25 | $0.95 | $0.06 | ||
| Q4 24 | $0.75 | $0.26 | ||
| Q3 24 | $0.82 | $0.07 | ||
| Q2 24 | $1.06 | $0.17 | ||
| Q1 24 | $1.00 | $0.04 |
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 | $399.1M |
| 总债务越低越好 | $155.0M | $943.5M |
| 股东权益账面价值 | $1.9B | $1.6B |
| 总资产 | $3.1B | $3.2B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资AOSHAYW
| Q4 25 | $193.2M | $399.1M | ||
| Q3 25 | $172.8M | $448.3M | ||
| Q2 25 | $177.9M | $365.1M | ||
| Q1 25 | $200.2M | $181.3M | ||
| Q4 24 | $276.1M | $196.6M | ||
| Q3 24 | $255.6M | $274.2M | ||
| Q2 24 | $233.3M | $215.1M | ||
| Q1 24 | $303.1M | $115.9M |
总债务AOSHAYW
| Q4 25 | $155.0M | $943.5M | ||
| Q3 25 | — | $947.7M | ||
| Q2 25 | — | $949.1M | ||
| Q1 25 | — | $950.4M | ||
| Q4 24 | $193.2M | $950.6M | ||
| Q3 24 | — | $959.9M | ||
| Q2 24 | — | $959.8M | ||
| Q1 24 | — | $1.1B |
股东权益AOSHAYW
| Q4 25 | $1.9B | $1.6B | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $1.8B | $1.5B | ||
| Q1 25 | $1.9B | $1.4B | ||
| Q4 24 | $1.9B | $1.4B | ||
| Q3 24 | $1.9B | $1.4B | ||
| Q2 24 | $1.9B | $1.4B | ||
| Q1 24 | $1.9B | $1.3B |
总资产AOSHAYW
| Q4 25 | $3.1B | $3.2B | ||
| Q3 25 | $3.2B | $3.0B | ||
| Q2 25 | $3.2B | $3.0B | ||
| Q1 25 | $3.3B | $3.0B | ||
| Q4 24 | $3.2B | $3.0B | ||
| Q3 24 | $3.2B | $2.9B | ||
| Q2 24 | $3.2B | $2.9B | ||
| Q1 24 | $3.2B | $2.9B |
负债/权益比AOSHAYW
| Q4 25 | 0.08× | 0.59× | ||
| Q3 25 | — | 0.62× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | 0.10× | 0.67× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.71× | ||
| Q1 24 | — | 0.82× |
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 | $-26.9M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $-35.8M |
| 自由现金流率自由现金流/营收 | 18.1% | -10.3% |
| 资本支出强度资本支出/营收 | 1.9% | 2.5% |
| 现金转化率经营现金流/净利润 | 1.46× | -0.39× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $227.3M |
8季度趋势，按日历期对齐
经营现金流AOSHAYW
| Q4 25 | $183.1M | $-26.9M | ||
| Q3 25 | $255.4M | $94.6M | ||
| Q2 25 | $139.6M | $194.2M | ||
| Q1 25 | $38.7M | $-5.8M | ||
| Q4 24 | $221.9M | $-63.7M | ||
| Q3 24 | $195.9M | $65.9M | ||
| Q2 24 | $57.4M | $287.0M | ||
| Q1 24 | $106.6M | $-77.2M |
自由现金流AOSHAYW
| Q4 25 | $165.5M | $-35.8M | ||
| Q3 25 | $240.6M | $87.2M | ||
| Q2 25 | $122.5M | $187.3M | ||
| Q1 25 | $17.4M | $-11.4M | ||
| Q4 24 | $191.3M | $-70.4M | ||
| Q3 24 | $163.4M | $59.1M | ||
| Q2 24 | $34.5M | $282.3M | ||
| Q1 24 | $84.6M | $-83.1M |
自由现金流率AOSHAYW
| Q4 25 | 18.1% | -10.3% | ||
| Q3 25 | 25.5% | 35.7% | ||
| Q2 25 | 12.1% | 62.5% | ||
| Q1 25 | 1.8% | -5.0% | ||
| Q4 24 | 21.0% | -21.5% | ||
| Q3 24 | 18.1% | 26.0% | ||
| Q2 24 | 3.4% | 99.3% | ||
| Q1 24 | 8.6% | -39.1% |
资本支出强度AOSHAYW
| Q4 25 | 1.9% | 2.5% | ||
| Q3 25 | 1.6% | 3.0% | ||
| Q2 25 | 1.7% | 2.3% | ||
| Q1 25 | 2.2% | 2.4% | ||
| Q4 24 | 3.4% | 2.1% | ||
| Q3 24 | 3.6% | 3.0% | ||
| Q2 24 | 2.2% | 1.7% | ||
| Q1 24 | 2.2% | 2.8% |
现金转化率AOSHAYW
| Q4 25 | 1.46× | -0.39× | ||
| Q3 25 | 1.93× | 3.94× | ||
| Q2 25 | 0.92× | 4.34× | ||
| Q1 25 | 0.28× | -0.41× | ||
| Q4 24 | 2.02× | -1.16× | ||
| Q3 24 | 1.63× | 4.00× | ||
| Q2 24 | 0.37× | 7.64× | ||
| Q1 24 | 0.72× | -7.85× |
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% |
HAYW
暂无分部数据
