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A.O.史密斯（AOS）与KIRBY CORP（KEX）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KIRBY CORP的1.1倍（$912.5M vs $851.8M）。A.O.史密斯净利率更高（13.7% vs 10.8%，领先3.0%）。KIRBY CORP同比增速更快（6.2% vs 0.0%）。KIRBY CORP自由现金流更多（$265.2M vs $165.5M）。过去两年KIRBY CORP的营收复合增速更高（2.7% 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。
总部位于美国得克萨斯州休斯顿的Kirby Corporation是美国最大的罐驳船运营商，业务覆盖密西西比河水系、海湾沿岸航道、美国三大海岸沿线及阿拉斯加、夏威夷地区，主营通过罐驳船运输石化产品、黑油、精炼石油制品、农化产品，同时拥有并运营8组远洋驳船及拖船运输单元。
AOS vs KEX — 直观对比
营收规模更大
AOS
是对方的1.1倍
$851.8M
营收增速更快
KEX
高出6.2%
0.0%
净利率更高
AOS
高出3.0%
10.8%
自由现金流更多
KEX
多$99.7M
$165.5M
两年增速更快
KEX
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $851.8M |
| 净利润 | $125.4M | $91.8M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 17.9% | 15.2% |
| 净利率 | 13.7% | 10.8% |
| 营收同比 | 0.0% | 6.2% |
| 净利润同比 | 14.3% | 114.4% |
| 每股收益（稀释后） | $0.89 | $1.68 |
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AOSKEX
| Q4 25 | $912.5M | $851.8M | ||
| Q3 25 | $942.5M | $871.2M | ||
| Q2 25 | $1.0B | $855.5M | ||
| Q1 25 | $963.9M | $785.7M | ||
| Q4 24 | $912.4M | $802.3M | ||
| Q3 24 | $902.6M | $831.1M | ||
| Q2 24 | $1.0B | $824.4M | ||
| Q1 24 | $978.8M | $808.0M |
净利润AOSKEX
| Q4 25 | $125.4M | $91.8M | ||
| Q3 25 | $132.0M | $92.5M | ||
| Q2 25 | $152.2M | $94.3M | ||
| Q1 25 | $136.6M | $76.0M | ||
| Q4 24 | $109.7M | $42.8M | ||
| Q3 24 | $120.1M | $90.0M | ||
| Q2 24 | $156.2M | $83.9M | ||
| Q1 24 | $147.6M | $70.1M |
毛利率AOSKEX
| Q4 25 | 38.4% | — | ||
| Q3 25 | 38.7% | — | ||
| Q2 25 | 39.3% | — | ||
| Q1 25 | 38.9% | — | ||
| Q4 24 | 37.1% | — | ||
| Q3 24 | 37.4% | — | ||
| Q2 24 | 38.7% | — | ||
| Q1 24 | 39.3% | — |
营业利润率AOSKEX
| Q4 25 | 17.9% | 15.2% | ||
| Q3 25 | 18.6% | 14.8% | ||
| Q2 25 | 20.4% | 15.4% | ||
| Q1 25 | 19.1% | 13.4% | ||
| Q4 24 | 10.1% | 6.3% | ||
| Q3 24 | 19.5% | 15.3% | ||
| Q2 24 | 21.9% | 14.6% | ||
| Q1 24 | 22.0% | 12.6% |
净利率AOSKEX
| Q4 25 | 13.7% | 10.8% | ||
| Q3 25 | 14.0% | 10.6% | ||
| Q2 25 | 15.0% | 11.0% | ||
| Q1 25 | 14.2% | 9.7% | ||
| Q4 24 | 12.0% | 5.3% | ||
| Q3 24 | 13.3% | 10.8% | ||
| Q2 24 | 15.2% | 10.2% | ||
| Q1 24 | 15.1% | 8.7% |
每股收益（稀释后）AOSKEX
| Q4 25 | $0.89 | $1.68 | ||
| Q3 25 | $0.94 | $1.65 | ||
| Q2 25 | $1.07 | $1.67 | ||
| Q1 25 | $0.95 | $1.33 | ||
| Q4 24 | $0.75 | $0.74 | ||
| Q3 24 | $0.82 | $1.55 | ||
| Q2 24 | $1.06 | $1.43 | ||
| Q1 24 | $1.00 | $1.19 |
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 | $78.8M |
| 总债务越低越好 | $155.0M | $919.3M |
| 股东权益账面价值 | $1.9B | $3.4B |
| 总资产 | $3.1B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资AOSKEX
| Q4 25 | $193.2M | $78.8M | ||
| Q3 25 | $172.8M | $47.0M | ||
| Q2 25 | $177.9M | $68.4M | ||
| Q1 25 | $200.2M | $51.1M | ||
| Q4 24 | $276.1M | $74.4M | ||
| Q3 24 | $255.6M | $67.1M | ||
| Q2 24 | $233.3M | $53.5M | ||
| Q1 24 | $303.1M | $75.2M |
总债务AOSKEX
| Q4 25 | $155.0M | $919.3M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $193.2M | $874.9M | ||
| Q3 24 | — | $978.6M | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $1.1B |
股东权益AOSKEX
| Q4 25 | $1.9B | $3.4B | ||
| Q3 25 | $1.8B | $3.4B | ||
| Q2 25 | $1.8B | $3.4B | ||
| Q1 25 | $1.9B | $3.3B | ||
| Q4 24 | $1.9B | $3.4B | ||
| Q3 24 | $1.9B | $3.3B | ||
| Q2 24 | $1.9B | $3.3B | ||
| Q1 24 | $1.9B | $3.2B |
总资产AOSKEX
| Q4 25 | $3.1B | $6.0B | ||
| Q3 25 | $3.2B | $6.1B | ||
| Q2 25 | $3.2B | $6.1B | ||
| Q1 25 | $3.3B | $6.0B | ||
| Q4 24 | $3.2B | $5.9B | ||
| Q3 24 | $3.2B | $5.9B | ||
| Q2 24 | $3.2B | $5.9B | ||
| Q1 24 | $3.2B | $5.8B |
负债/权益比AOSKEX
| Q4 25 | 0.08× | 0.27× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | 0.10× | 0.26× | ||
| Q3 24 | — | 0.30× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.33× |
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 | $312.2M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $265.2M |
| 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% | 5.5% |
| 现金转化率经营现金流/净利润 | 1.46× | 3.40× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $405.7M |
8季度趋势，按日历期对齐
经营现金流AOSKEX
| Q4 25 | $183.1M | $312.2M | ||
| Q3 25 | $255.4M | $227.5M | ||
| Q2 25 | $139.6M | $93.9M | ||
| Q1 25 | $38.7M | $36.5M | ||
| Q4 24 | $221.9M | $247.4M | ||
| Q3 24 | $195.9M | $206.5M | ||
| Q2 24 | $57.4M | $179.3M | ||
| Q1 24 | $106.6M | $123.3M |
自由现金流AOSKEX
| Q4 25 | $165.5M | $265.2M | ||
| Q3 25 | $240.6M | $160.3M | ||
| Q2 25 | $122.5M | $22.4M | ||
| Q1 25 | $17.4M | $-42.1M | ||
| Q4 24 | $191.3M | $150.7M | ||
| Q3 24 | $163.4M | $130.1M | ||
| Q2 24 | $34.5M | $90.8M | ||
| Q1 24 | $84.6M | $42.2M |
自由现金流率AOSKEX
| Q4 25 | 18.1% | 31.1% | ||
| Q3 25 | 25.5% | 18.4% | ||
| Q2 25 | 12.1% | 2.6% | ||
| Q1 25 | 1.8% | -5.4% | ||
| Q4 24 | 21.0% | 18.8% | ||
| Q3 24 | 18.1% | 15.7% | ||
| Q2 24 | 3.4% | 11.0% | ||
| Q1 24 | 8.6% | 5.2% |
资本支出强度AOSKEX
| Q4 25 | 1.9% | 5.5% | ||
| Q3 25 | 1.6% | 7.7% | ||
| Q2 25 | 1.7% | 8.4% | ||
| Q1 25 | 2.2% | 10.0% | ||
| Q4 24 | 3.4% | 12.0% | ||
| Q3 24 | 3.6% | 9.2% | ||
| Q2 24 | 2.2% | 10.7% | ||
| Q1 24 | 2.2% | 10.0% |
现金转化率AOSKEX
| Q4 25 | 1.46× | 3.40× | ||
| Q3 25 | 1.93× | 2.46× | ||
| Q2 25 | 0.92× | 1.00× | ||
| Q1 25 | 0.28× | 0.48× | ||
| Q4 24 | 2.02× | 5.78× | ||
| Q3 24 | 1.63× | 2.30× | ||
| Q2 24 | 0.37× | 2.14× | ||
| Q1 24 | 0.72× | 1.76× |
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% |
KEX
| Inland Transportation | $379.2M | 45% |
| Power Generation | $191.1M | 22% |
| Commercial And Industrial | $149.4M | 18% |
| Coastal Transportation | $102.5M | 12% |
| Oil And Gas | $29.6M | 3% |
