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A.O.史密斯（AOS）与MasterCraft Boat Holdings, Inc.（MCFT）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MasterCraft Boat Holdings, Inc.的12.7倍（$912.5M vs $71.8M）。A.O.史密斯净利率更高（13.7% vs 3.5%，领先10.2%）。MasterCraft Boat Holdings, Inc.同比增速更快（13.2% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $14.0M）。过去两年A.O.史密斯的营收复合增速更高（-3.4% vs -7.6%）
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。
MasterCraft Boat Holdings是美国豪华高性能游艇制造商，1968年创立于田纳西州玛丽维尔，目前总部设于田纳西州沃诺尔。其生产的游艇主打滑水、尾波板、尾波冲浪等水上运动场景，在高端运动艇领域拥有较高知名度。
AOS vs MCFT — 直观对比
营收规模更大
AOS
是对方的12.7倍
$71.8M
营收增速更快
MCFT
高出13.2%
0.0%
净利率更高
AOS
高出10.2%
3.5%
自由现金流更多
AOS
多$151.5M
$14.0M
两年增速更快
AOS
近两年复合增速
-7.6%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $71.8M |
| 净利润 | $125.4M | $2.5M |
| 毛利率 | 38.4% | 21.6% |
| 营业利润率 | 17.9% | 3.8% |
| 净利率 | 13.7% | 3.5% |
| 营收同比 | 0.0% | 13.2% |
| 净利润同比 | 14.3% | -8.0% |
| 每股收益（稀释后） | $0.89 | $0.16 |
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AOSMCFT
| Q4 25 | $912.5M | $71.8M | ||
| Q3 25 | $942.5M | $69.0M | ||
| Q2 25 | $1.0B | $79.5M | ||
| Q1 25 | $963.9M | $76.0M | ||
| Q4 24 | $912.4M | $63.4M | ||
| Q3 24 | $902.6M | $65.4M | ||
| Q2 24 | $1.0B | $94.3M | ||
| Q1 24 | $978.8M | $84.0M |
净利润AOSMCFT
| Q4 25 | $125.4M | $2.5M | ||
| Q3 25 | $132.0M | $3.6M | ||
| Q2 25 | $152.2M | $5.7M | ||
| Q1 25 | $136.6M | $3.7M | ||
| Q4 24 | $109.7M | $2.7M | ||
| Q3 24 | $120.1M | $-5.1M | ||
| Q2 24 | $156.2M | $6.2M | ||
| Q1 24 | $147.6M | $3.8M |
毛利率AOSMCFT
| Q4 25 | 38.4% | 21.6% | ||
| Q3 25 | 38.7% | 22.3% | ||
| Q2 25 | 39.3% | 23.2% | ||
| Q1 25 | 38.9% | 20.8% | ||
| Q4 24 | 37.1% | 17.2% | ||
| Q3 24 | 37.4% | 18.1% | ||
| Q2 24 | 38.7% | 23.8% | ||
| Q1 24 | 39.3% | 23.3% |
营业利润率AOSMCFT
| Q4 25 | 17.9% | 3.8% | ||
| Q3 25 | 18.6% | 5.5% | ||
| Q2 25 | 20.4% | 7.5% | ||
| Q1 25 | 19.1% | 5.4% | ||
| Q4 24 | 10.1% | 0.3% | ||
| Q3 24 | 19.5% | 1.5% | ||
| Q2 24 | 21.9% | 11.2% | ||
| Q1 24 | 22.0% | 8.0% |
净利率AOSMCFT
| Q4 25 | 13.7% | 3.5% | ||
| Q3 25 | 14.0% | 5.3% | ||
| Q2 25 | 15.0% | 7.2% | ||
| Q1 25 | 14.2% | 4.9% | ||
| Q4 24 | 12.0% | 4.3% | ||
| Q3 24 | 13.3% | -7.9% | ||
| Q2 24 | 15.2% | 6.6% | ||
| Q1 24 | 15.1% | 4.5% |
每股收益（稀释后）AOSMCFT
| Q4 25 | $0.89 | $0.16 | ||
| Q3 25 | $0.94 | $0.22 | ||
| Q2 25 | $1.07 | $0.34 | ||
| Q1 25 | $0.95 | $0.23 | ||
| Q4 24 | $0.75 | $0.17 | ||
| Q3 24 | $0.82 | $-0.31 | ||
| Q2 24 | $1.06 | $0.38 | ||
| Q1 24 | $1.00 | $0.22 |
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 | $81.4M |
| 总债务越低越好 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $189.1M |
| 总资产 | $3.1B | $259.7M |
| 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AOSMCFT
| Q4 25 | $193.2M | $81.4M | ||
| Q3 25 | $172.8M | $67.3M | ||
| Q2 25 | $177.9M | $79.4M | ||
| Q1 25 | $200.2M | $66.5M | ||
| Q4 24 | $276.1M | $62.9M | ||
| Q3 24 | $255.6M | $14.2M | ||
| Q2 24 | $233.3M | $86.2M | ||
| Q1 24 | $303.1M | $22.5M |
总债务AOSMCFT
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | $49.5M | ||
| Q2 24 | — | $49.3M | ||
| Q1 24 | — | $50.4M |
股东权益AOSMCFT
| Q4 25 | $1.9B | $189.1M | ||
| Q3 25 | $1.8B | $185.5M | ||
| Q2 25 | $1.8B | $183.4M | ||
| Q1 25 | $1.9B | $182.1M | ||
| Q4 24 | $1.9B | $178.3M | ||
| Q3 24 | $1.9B | $175.4M | ||
| Q2 24 | $1.9B | $183.7M | ||
| Q1 24 | $1.9B | $196.9M |
总资产AOSMCFT
| Q4 25 | $3.1B | $259.7M | ||
| Q3 25 | $3.2B | $259.3M | ||
| Q2 25 | $3.2B | $259.9M | ||
| Q1 25 | $3.3B | $261.9M | ||
| Q4 24 | $3.2B | $250.1M | ||
| Q3 24 | $3.2B | $309.1M | ||
| Q2 24 | $3.2B | $259.9M | ||
| Q1 24 | $3.2B | $340.9M |
负债/权益比AOSMCFT
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | — | ||
| Q3 24 | — | 0.28× | ||
| Q2 24 | — | 0.27× | ||
| Q1 24 | — | 0.26× |
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 | $15.6M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $14.0M |
| 自由现金流率自由现金流/营收 | 18.1% | 19.5% |
| 资本支出强度资本支出/营收 | 1.9% | 2.3% |
| 现金转化率经营现金流/净利润 | 1.46× | 6.17× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $26.2M |
8季度趋势，按日历期对齐
经营现金流AOSMCFT
| Q4 25 | $183.1M | $15.6M | ||
| Q3 25 | $255.4M | $-6.8M | ||
| Q2 25 | $139.6M | $20.4M | ||
| Q1 25 | $38.7M | $6.3M | ||
| Q4 24 | $221.9M | $6.4M | ||
| Q3 24 | $195.9M | $2.4M | ||
| Q2 24 | $57.4M | — | ||
| Q1 24 | $106.6M | $3.6M |
自由现金流AOSMCFT
| Q4 25 | $165.5M | $14.0M | ||
| Q3 25 | $240.6M | $-9.9M | ||
| Q2 25 | $122.5M | $17.9M | ||
| Q1 25 | $17.4M | $4.3M | ||
| Q4 24 | $191.3M | $4.0M | ||
| Q3 24 | $163.4M | $199.0K | ||
| Q2 24 | $34.5M | — | ||
| Q1 24 | $84.6M | $453.0K |
自由现金流率AOSMCFT
| Q4 25 | 18.1% | 19.5% | ||
| Q3 25 | 25.5% | -14.4% | ||
| Q2 25 | 12.1% | 22.5% | ||
| Q1 25 | 1.8% | 5.7% | ||
| Q4 24 | 21.0% | 6.4% | ||
| Q3 24 | 18.1% | 0.3% | ||
| Q2 24 | 3.4% | — | ||
| Q1 24 | 8.6% | 0.5% |
资本支出强度AOSMCFT
| Q4 25 | 1.9% | 2.3% | ||
| Q3 25 | 1.6% | 4.5% | ||
| Q2 25 | 1.7% | 3.3% | ||
| Q1 25 | 2.2% | 2.6% | ||
| Q4 24 | 3.4% | 3.8% | ||
| Q3 24 | 3.6% | 3.4% | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 2.2% | 3.8% |
现金转化率AOSMCFT
| Q4 25 | 1.46× | 6.17× | ||
| Q3 25 | 1.93× | -1.88× | ||
| Q2 25 | 0.92× | 3.59× | ||
| Q1 25 | 0.28× | 1.69× | ||
| Q4 24 | 2.02× | 2.34× | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | — | ||
| Q1 24 | 0.72× | 0.97× |
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% |
MCFT
| Boats And Trailers | $59.5M | 83% |
| Pontoon | $10.0M | 14% |
| Parts | $1.7M | 2% |
