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A.O.史密斯（AOS）与光辉国际（KFY）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光辉国际的1.3倍（$912.5M vs $729.8M）。A.O.史密斯净利率更高（13.7% vs 9.9%，领先3.8%）。光辉国际同比增速更快（7.0% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $100.7M）。过去两年光辉国际的营收复合增速更高（3.8% 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。
光辉国际是一家总部位于美国加利福尼亚州洛杉矶的管理咨询企业，成立于1969年。截至2019年，公司在全球53个国家设有111个办事处，员工总数达8198名，旗下设有咨询、数字化、高管寻访、招聘流程外包及专业人才寻访四大业务板块，为全球客户提供全方位的人力资源及管理解决方案。
AOS vs KFY — 直观对比
营收规模更大
AOS
是对方的1.3倍
$729.8M
营收增速更快
KFY
高出7.0%
0.0%
净利率更高
AOS
高出3.8%
9.9%
自由现金流更多
AOS
多$64.8M
$100.7M
两年增速更快
KFY
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $729.8M |
| 净利润 | $125.4M | $72.4M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 17.9% | 13.5% |
| 净利率 | 13.7% | 9.9% |
| 营收同比 | 0.0% | 7.0% |
| 净利润同比 | 14.3% | 19.1% |
| 每股收益（稀释后） | $0.89 | $1.36 |
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AOSKFY
| Q4 25 | $912.5M | $729.8M | ||
| Q3 25 | $942.5M | $715.5M | ||
| Q2 25 | $1.0B | $719.8M | ||
| Q1 25 | $963.9M | $676.5M | ||
| Q4 24 | $912.4M | $682.0M | ||
| Q3 24 | $902.6M | $682.8M | ||
| Q2 24 | $1.0B | $699.9M | ||
| Q1 24 | $978.8M | $676.9M |
净利润AOSKFY
| Q4 25 | $125.4M | $72.4M | ||
| Q3 25 | $132.0M | $66.6M | ||
| Q2 25 | $152.2M | $64.2M | ||
| Q1 25 | $136.6M | $58.4M | ||
| Q4 24 | $109.7M | $60.8M | ||
| Q3 24 | $120.1M | $62.6M | ||
| Q2 24 | $156.2M | $65.2M | ||
| Q1 24 | $147.6M | $59.1M |
毛利率AOSKFY
| 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AOSKFY
| Q4 25 | 17.9% | 13.5% | ||
| Q3 25 | 18.6% | 11.7% | ||
| Q2 25 | 20.4% | 14.5% | ||
| Q1 25 | 19.1% | 11.6% | ||
| Q4 24 | 10.1% | 12.8% | ||
| Q3 24 | 19.5% | 11.1% | ||
| Q2 24 | 21.9% | 11.9% | ||
| Q1 24 | 22.0% | 7.4% |
净利率AOSKFY
| Q4 25 | 13.7% | 9.9% | ||
| Q3 25 | 14.0% | 9.3% | ||
| Q2 25 | 15.0% | 8.9% | ||
| Q1 25 | 14.2% | 8.6% | ||
| Q4 24 | 12.0% | 8.9% | ||
| Q3 24 | 13.3% | 9.2% | ||
| Q2 24 | 15.2% | 9.3% | ||
| Q1 24 | 15.1% | 8.7% |
每股收益（稀释后）AOSKFY
| Q4 25 | $0.89 | $1.36 | ||
| Q3 25 | $0.94 | $1.26 | ||
| Q2 25 | $1.07 | $1.19 | ||
| Q1 25 | $0.95 | $1.10 | ||
| Q4 24 | $0.75 | $1.14 | ||
| Q3 24 | $0.82 | $1.17 | ||
| Q2 24 | $1.06 | $1.25 | ||
| Q1 24 | $1.00 | $1.13 |
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 | $801.1M |
| 总债务越低越好 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $1.9B |
| 总资产 | $3.1B | $3.7B |
| 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AOSKFY
| Q4 25 | $193.2M | $801.1M | ||
| Q3 25 | $172.8M | $721.1M | ||
| Q2 25 | $177.9M | $1.0B | ||
| Q1 25 | $200.2M | $820.0M | ||
| Q4 24 | $276.1M | $735.5M | ||
| Q3 24 | $255.6M | $674.0M | ||
| Q2 24 | $233.3M | $983.7M | ||
| Q1 24 | $303.1M | $782.5M |
总债务AOSKFY
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSKFY
| Q4 25 | $1.9B | $1.9B | ||
| Q3 25 | $1.8B | $1.9B | ||
| Q2 25 | $1.8B | $1.9B | ||
| Q1 25 | $1.9B | $1.8B | ||
| Q4 24 | $1.9B | $1.8B | ||
| Q3 24 | $1.9B | $1.8B | ||
| Q2 24 | $1.9B | $1.7B | ||
| Q1 24 | $1.9B | $1.7B |
总资产AOSKFY
| Q4 25 | $3.1B | $3.7B | ||
| Q3 25 | $3.2B | $3.6B | ||
| Q2 25 | $3.2B | $3.9B | ||
| Q1 25 | $3.3B | $3.6B | ||
| Q4 24 | $3.2B | $3.5B | ||
| Q3 24 | $3.2B | $3.4B | ||
| Q2 24 | $3.2B | $3.7B | ||
| Q1 24 | $3.2B | $3.6B |
负债/权益比AOSKFY
| 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 | $121.4M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $100.7M |
| 自由现金流率自由现金流/营收 | 18.1% | 13.8% |
| 资本支出强度资本支出/营收 | 1.9% | 2.8% |
| 现金转化率经营现金流/净利润 | 1.46× | 1.68× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $272.6M |
8季度趋势，按日历期对齐
经营现金流AOSKFY
| Q4 25 | $183.1M | $121.4M | ||
| Q3 25 | $255.4M | $-237.4M | ||
| Q2 25 | $139.6M | $255.8M | ||
| Q1 25 | $38.7M | $213.7M | ||
| Q4 24 | $221.9M | $122.0M | ||
| Q3 24 | $195.9M | $-227.2M | ||
| Q2 24 | $57.4M | $261.9M | ||
| Q1 24 | $106.6M | $164.0M |
自由现金流AOSKFY
| Q4 25 | $165.5M | $100.7M | ||
| Q3 25 | $240.6M | $-260.0M | ||
| Q2 25 | $122.5M | $235.5M | ||
| Q1 25 | $17.4M | $196.4M | ||
| Q4 24 | $191.3M | $107.7M | ||
| Q3 24 | $163.4M | $-237.7M | ||
| Q2 24 | $34.5M | $250.0M | ||
| Q1 24 | $84.6M | $152.3M |
自由现金流率AOSKFY
| Q4 25 | 18.1% | 13.8% | ||
| Q3 25 | 25.5% | -36.3% | ||
| Q2 25 | 12.1% | 32.7% | ||
| Q1 25 | 1.8% | 29.0% | ||
| Q4 24 | 21.0% | 15.8% | ||
| Q3 24 | 18.1% | -34.8% | ||
| Q2 24 | 3.4% | 35.7% | ||
| Q1 24 | 8.6% | 22.5% |
资本支出强度AOSKFY
| Q4 25 | 1.9% | 2.8% | ||
| Q3 25 | 1.6% | 3.2% | ||
| Q2 25 | 1.7% | 2.8% | ||
| Q1 25 | 2.2% | 2.6% | ||
| Q4 24 | 3.4% | 2.1% | ||
| Q3 24 | 3.6% | 1.5% | ||
| Q2 24 | 2.2% | 1.7% | ||
| Q1 24 | 2.2% | 1.7% |
现金转化率AOSKFY
| Q4 25 | 1.46× | 1.68× | ||
| Q3 25 | 1.93× | -3.56× | ||
| Q2 25 | 0.92× | 3.98× | ||
| Q1 25 | 0.28× | 3.66× | ||
| Q4 24 | 2.02× | 2.01× | ||
| Q3 24 | 1.63× | -3.63× | ||
| Q2 24 | 0.37× | 4.02× | ||
| Q1 24 | 0.72× | 2.78× |
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% |
KFY
| Industrial | $234.0M | 32% |
| Technology Service | $104.5M | 14% |
| RPO | $92.3M | 13% |
| Digital | $91.2M | 13% |
| Consumer Goods | $85.0M | 12% |
| Executive Search EMEA | $52.2M | 7% |
| Education Non Profit And General | $43.2M | 6% |
| Executive Search Asia Pacific | $24.3M | 3% |
| Reimbursed Out Of Pocket Engagement Expenses | $8.1M | 1% |
