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A.O.史密斯（AOS）与骏利亨德森（JBI）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骏利亨德森的4.2倍（$912.5M vs $219.3M）。A.O.史密斯净利率更高（13.7% vs 6.9%，领先6.8%）。A.O.史密斯同比增速更快（0.0% vs -4.7%）。A.O.史密斯自由现金流更多（$165.5M vs $8.3M）。过去两年A.O.史密斯的营收复合增速更高（-3.4% vs -8.8%）
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。
骏利亨德森是一家英美合资的全球资产管理集团，总部位于英国伦敦市。旗下以骏利亨德森投资者为品牌，面向全球个人投资者、中介顾问及机构投资者提供丰富多样的金融产品。
AOS vs JBI — 直观对比
营收规模更大
AOS
是对方的4.2倍
$219.3M
营收增速更快
AOS
高出4.7%
-4.7%
净利率更高
AOS
高出6.8%
6.9%
自由现金流更多
AOS
多$157.2M
$8.3M
两年增速更快
AOS
近两年复合增速
-8.8%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $219.3M |
| 净利润 | $125.4M | $15.2M |
| 毛利率 | 38.4% | 39.1% |
| 营业利润率 | 17.9% | 13.4% |
| 净利率 | 13.7% | 6.9% |
| 营收同比 | 0.0% | -4.7% |
| 净利润同比 | 14.3% | 28.8% |
| 每股收益（稀释后） | $0.89 | $0.11 |
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AOSJBI
| Q4 25 | $912.5M | — | ||
| Q3 25 | $942.5M | $219.3M | ||
| Q2 25 | $1.0B | $228.1M | ||
| Q1 25 | $963.9M | $210.5M | ||
| Q4 24 | $912.4M | $230.8M | ||
| Q3 24 | $902.6M | $230.1M | ||
| Q2 24 | $1.0B | $248.4M | ||
| Q1 24 | $978.8M | $254.5M |
净利润AOSJBI
| Q4 25 | $125.4M | — | ||
| Q3 25 | $132.0M | $15.2M | ||
| Q2 25 | $152.2M | $20.7M | ||
| Q1 25 | $136.6M | $10.8M | ||
| Q4 24 | $109.7M | $300.0K | ||
| Q3 24 | $120.1M | $11.8M | ||
| Q2 24 | $156.2M | $27.6M | ||
| Q1 24 | $147.6M | $30.7M |
毛利率AOSJBI
| Q4 25 | 38.4% | — | ||
| Q3 25 | 38.7% | 39.1% | ||
| Q2 25 | 39.3% | 40.9% | ||
| Q1 25 | 38.9% | 38.9% | ||
| Q4 24 | 37.1% | 37.8% | ||
| Q3 24 | 37.4% | 39.6% | ||
| Q2 24 | 38.7% | 43.9% | ||
| Q1 24 | 39.3% | 43.4% |
营业利润率AOSJBI
| Q4 25 | 17.9% | — | ||
| Q3 25 | 18.6% | 13.4% | ||
| Q2 25 | 20.4% | 15.8% | ||
| Q1 25 | 19.1% | 12.0% | ||
| Q4 24 | 10.1% | 5.5% | ||
| Q3 24 | 19.5% | 11.6% | ||
| Q2 24 | 21.9% | 20.8% | ||
| Q1 24 | 22.0% | 21.8% |
净利率AOSJBI
| Q4 25 | 13.7% | — | ||
| Q3 25 | 14.0% | 6.9% | ||
| Q2 25 | 15.0% | 9.1% | ||
| Q1 25 | 14.2% | 5.1% | ||
| Q4 24 | 12.0% | 0.1% | ||
| Q3 24 | 13.3% | 5.1% | ||
| Q2 24 | 15.2% | 11.1% | ||
| Q1 24 | 15.1% | 12.1% |
每股收益（稀释后）AOSJBI
| Q4 25 | $0.89 | — | ||
| Q3 25 | $0.94 | $0.11 | ||
| Q2 25 | $1.07 | $0.15 | ||
| Q1 25 | $0.95 | $0.08 | ||
| Q4 24 | $0.75 | $0.01 | ||
| Q3 24 | $0.82 | $0.08 | ||
| Q2 24 | $1.06 | $0.19 | ||
| Q1 24 | $1.00 | $0.21 |
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 | — |
| 总债务越低越好 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $560.8M |
| 总资产 | $3.1B | $1.3B |
| 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AOSJBI
| Q4 25 | $193.2M | — | ||
| Q3 25 | $172.8M | — | ||
| Q2 25 | $177.9M | — | ||
| Q1 25 | $200.2M | — | ||
| Q4 24 | $276.1M | — | ||
| Q3 24 | $255.6M | $102.1M | ||
| Q2 24 | $233.3M | $110.1M | ||
| Q1 24 | $303.1M | — |
总债务AOSJBI
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSJBI
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.8B | $560.8M | ||
| Q2 25 | $1.8B | $543.8M | ||
| Q1 25 | $1.9B | $526.8M | ||
| Q4 24 | $1.9B | $518.8M | ||
| Q3 24 | $1.9B | $526.6M | ||
| Q2 24 | $1.9B | $556.3M | ||
| Q1 24 | $1.9B | $535.4M |
总资产AOSJBI
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.2B | $1.3B | ||
| Q2 25 | $3.2B | $1.3B | ||
| Q1 25 | $3.3B | $1.3B | ||
| Q4 24 | $3.2B | $1.3B | ||
| Q3 24 | $3.2B | $1.3B | ||
| Q2 24 | $3.2B | $1.3B | ||
| Q1 24 | $3.2B | $1.4B |
负债/权益比AOSJBI
| 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 | $15.0M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $8.3M |
| 自由现金流率自由现金流/营收 | 18.1% | 3.8% |
| 资本支出强度资本支出/营收 | 1.9% | 3.1% |
| 现金转化率经营现金流/净利润 | 1.46× | 0.99× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $140.1M |
8季度趋势，按日历期对齐
经营现金流AOSJBI
| Q4 25 | $183.1M | — | ||
| Q3 25 | $255.4M | $15.0M | ||
| Q2 25 | $139.6M | $51.4M | ||
| Q1 25 | $38.7M | $48.3M | ||
| Q4 24 | $221.9M | $51.4M | ||
| Q3 24 | $195.9M | $43.0M | ||
| Q2 24 | $57.4M | $31.0M | ||
| Q1 24 | $106.6M | $28.6M |
自由现金流AOSJBI
| Q4 25 | $165.5M | — | ||
| Q3 25 | $240.6M | $8.3M | ||
| Q2 25 | $122.5M | $44.6M | ||
| Q1 25 | $17.4M | $41.9M | ||
| Q4 24 | $191.3M | $45.3M | ||
| Q3 24 | $163.4M | $39.3M | ||
| Q2 24 | $34.5M | $25.3M | ||
| Q1 24 | $84.6M | $24.0M |
自由现金流率AOSJBI
| Q4 25 | 18.1% | — | ||
| Q3 25 | 25.5% | 3.8% | ||
| Q2 25 | 12.1% | 19.6% | ||
| Q1 25 | 1.8% | 19.9% | ||
| Q4 24 | 21.0% | 19.6% | ||
| Q3 24 | 18.1% | 17.1% | ||
| Q2 24 | 3.4% | 10.2% | ||
| Q1 24 | 8.6% | 9.4% |
资本支出强度AOSJBI
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.6% | 3.1% | ||
| Q2 25 | 1.7% | 3.0% | ||
| Q1 25 | 2.2% | 3.0% | ||
| Q4 24 | 3.4% | 2.6% | ||
| Q3 24 | 3.6% | 1.6% | ||
| Q2 24 | 2.2% | 2.3% | ||
| Q1 24 | 2.2% | 1.8% |
现金转化率AOSJBI
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | 0.99× | ||
| Q2 25 | 0.92× | 2.48× | ||
| Q1 25 | 0.28× | 4.47× | ||
| Q4 24 | 2.02× | 171.33× | ||
| Q3 24 | 1.63× | 3.64× | ||
| Q2 24 | 0.37× | 1.12× | ||
| Q1 24 | 0.72× | 0.93× |
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% |
JBI
| Self Storage New Construction | $72.3M | 33% |
| Commercial And Others | $65.5M | 30% |
| Self Storage R3 | $54.0M | 25% |
| Transferred At Point In Time | $15.5M | 7% |
| Transferred Over Time | $12.8M | 6% |
