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A.O.史密斯（AOS）与朗美通（LITE）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朗美通的1.4倍（$945.6M vs $665.5M），A.O.史密斯净利率更高（12.5% vs 11.8%，领先0.7%），朗美通同比增速更快（65.5% vs -2.0%），A.O.史密斯自由现金流更多（$118.9M vs $43.1M），过去两年朗美通的营收复合增速更高（34.8% vs -3.9%）
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。
朗美通控股（Lumentum Holdings Inc.）是全球知名光电产品供应商，前身为美国捷迪讯（JDSU）旗下光电器件及激光业务板块，2015年8月随捷迪讯分拆独立运营，总部位于美国加利福尼亚州米尔皮塔斯，主营光通信网络设备、激光器、定制光学解决方案等多元产品。
AOS vs LITE — 直观对比
营收规模更大
AOS
是对方的1.4倍
$665.5M
营收增速更快
LITE
高出67.5%
-2.0%
净利率更高
AOS
高出0.7%
11.8%
自由现金流更多
AOS
多$75.8M
$43.1M
两年增速更快
LITE
近两年复合增速
-3.9%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $945.6M | $665.5M |
| 净利润 | $118.0M | $78.2M |
| 毛利率 | 38.7% | 36.1% |
| 营业利润率 | — | 9.7% |
| 净利率 | 12.5% | 11.8% |
| 营收同比 | -2.0% | 65.5% |
| 净利润同比 | -14.0% | 228.4% |
| 每股收益（稀释后） | $0.85 | $0.89 |
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AOSLITE
| Q1 26 | $945.6M | — | ||
| Q4 25 | $912.5M | $665.5M | ||
| Q3 25 | $942.5M | $533.8M | ||
| Q2 25 | $1.0B | $480.7M | ||
| Q1 25 | $963.9M | $425.2M | ||
| Q4 24 | $912.4M | $402.2M | ||
| Q3 24 | $902.6M | $336.9M | ||
| Q2 24 | $1.0B | $308.3M |
净利润AOSLITE
| Q1 26 | $118.0M | — | ||
| Q4 25 | $125.4M | $78.2M | ||
| Q3 25 | $132.0M | $4.2M | ||
| Q2 25 | $152.2M | $213.3M | ||
| Q1 25 | $136.6M | $-44.1M | ||
| Q4 24 | $109.7M | $-60.9M | ||
| Q3 24 | $120.1M | $-82.4M | ||
| Q2 24 | $156.2M | $-252.5M |
毛利率AOSLITE
| Q1 26 | 38.7% | — | ||
| Q4 25 | 38.4% | 36.1% | ||
| Q3 25 | 38.7% | 34.0% | ||
| Q2 25 | 39.3% | 33.3% | ||
| Q1 25 | 38.9% | 28.8% | ||
| Q4 24 | 37.1% | 24.8% | ||
| Q3 24 | 37.4% | 23.1% | ||
| Q2 24 | 38.7% | 16.6% |
营业利润率AOSLITE
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | 9.7% | ||
| Q3 25 | 18.6% | 1.3% | ||
| Q2 25 | 20.4% | -1.7% | ||
| Q1 25 | 19.1% | -8.9% | ||
| Q4 24 | 10.1% | -12.8% | ||
| Q3 24 | 19.5% | -24.5% | ||
| Q2 24 | 21.9% | -43.3% |
净利率AOSLITE
| Q1 26 | 12.5% | — | ||
| Q4 25 | 13.7% | 11.8% | ||
| Q3 25 | 14.0% | 0.8% | ||
| Q2 25 | 15.0% | 44.4% | ||
| Q1 25 | 14.2% | -10.4% | ||
| Q4 24 | 12.0% | -15.1% | ||
| Q3 24 | 13.3% | -24.5% | ||
| Q2 24 | 15.2% | -81.9% |
每股收益（稀释后）AOSLITE
| Q1 26 | $0.85 | — | ||
| Q4 25 | $0.89 | $0.89 | ||
| Q3 25 | $0.94 | $0.05 | ||
| Q2 25 | $1.07 | $3.10 | ||
| Q1 25 | $0.95 | $-0.64 | ||
| Q4 24 | $0.75 | $-0.88 | ||
| Q3 24 | $0.82 | $-1.21 | ||
| Q2 24 | $1.06 | $-3.75 |
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 | $185.2M | $1.2B |
| 总债务越低越好 | $574.2M | — |
| 股东权益账面价值 | $1.9B | $846.6M |
| 总资产 | $3.7B | $4.8B |
| 负债/权益比越低杠杆越低 | 0.31× | — |
8季度趋势，按日历期对齐
现金及短期投资AOSLITE
| Q1 26 | $185.2M | — | ||
| Q4 25 | $193.2M | $1.2B | ||
| Q3 25 | $172.8M | $1.1B | ||
| Q2 25 | $177.9M | $877.1M | ||
| Q1 25 | $200.2M | $866.7M | ||
| Q4 24 | $276.1M | $896.7M | ||
| Q3 24 | $255.6M | $916.1M | ||
| Q2 24 | $233.3M | $887.0M |
总债务AOSLITE
| Q1 26 | $574.2M | — | ||
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AOSLITE
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $846.6M | ||
| Q3 25 | $1.8B | $780.8M | ||
| Q2 25 | $1.8B | $1.1B | ||
| Q1 25 | $1.9B | $879.5M | ||
| Q4 24 | $1.9B | $872.3M | ||
| Q3 24 | $1.9B | $895.9M | ||
| Q2 24 | $1.9B | $957.3M |
总资产AOSLITE
| Q1 26 | $3.7B | — | ||
| Q4 25 | $3.1B | $4.8B | ||
| Q3 25 | $3.2B | $4.6B | ||
| Q2 25 | $3.2B | $4.2B | ||
| Q1 25 | $3.3B | $4.0B | ||
| Q4 24 | $3.2B | $4.0B | ||
| Q3 24 | $3.2B | $4.0B | ||
| Q2 24 | $3.2B | $3.9B |
负债/权益比AOSLITE
| Q1 26 | 0.31× | — | ||
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $126.7M |
| 自由现金流经营现金流 - 资本支出 | $118.9M | $43.1M |
| 自由现金流率自由现金流/营收 | 12.6% | 6.5% |
| 资本支出强度资本支出/营收 | 1.1% | 12.6% |
| 现金转化率经营现金流/净利润 | — | 1.62× |
| 过去12个月自由现金流最近4个季度 | $647.5M | $-29.5M |
8季度趋势，按日历期对齐
经营现金流AOSLITE
| Q1 26 | — | — | ||
| Q4 25 | $183.1M | $126.7M | ||
| Q3 25 | $255.4M | $57.9M | ||
| Q2 25 | $139.6M | $64.0M | ||
| Q1 25 | $38.7M | $-1.6M | ||
| Q4 24 | $221.9M | $24.3M | ||
| Q3 24 | $195.9M | $39.6M | ||
| Q2 24 | $57.4M | $35.5M |
自由现金流AOSLITE
| Q1 26 | $118.9M | — | ||
| Q4 25 | $165.5M | $43.1M | ||
| Q3 25 | $240.6M | $-18.3M | ||
| Q2 25 | $122.5M | $10.1M | ||
| Q1 25 | $17.4M | $-64.4M | ||
| Q4 24 | $191.3M | $-15.9M | ||
| Q3 24 | $163.4M | $-34.5M | ||
| Q2 24 | $34.5M | $10.9M |
自由现金流率AOSLITE
| Q1 26 | 12.6% | — | ||
| Q4 25 | 18.1% | 6.5% | ||
| Q3 25 | 25.5% | -3.4% | ||
| Q2 25 | 12.1% | 2.1% | ||
| Q1 25 | 1.8% | -15.1% | ||
| Q4 24 | 21.0% | -4.0% | ||
| Q3 24 | 18.1% | -10.2% | ||
| Q2 24 | 3.4% | 3.5% |
资本支出强度AOSLITE
| Q1 26 | 1.1% | — | ||
| Q4 25 | 1.9% | 12.6% | ||
| Q3 25 | 1.6% | 14.3% | ||
| Q2 25 | 1.7% | 11.2% | ||
| Q1 25 | 2.2% | 14.8% | ||
| Q4 24 | 3.4% | 10.0% | ||
| Q3 24 | 3.6% | 22.0% | ||
| Q2 24 | 2.2% | 8.0% |
现金转化率AOSLITE
| Q1 26 | — | — | ||
| Q4 25 | 1.46× | 1.62× | ||
| Q3 25 | 1.93× | 13.79× | ||
| Q2 25 | 0.92× | 0.30× | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | — |
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
暂无分部数据
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
