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A.O.史密斯（AOS）与Medpace Holdings, Inc.（MEDP）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Medpace Holdings, Inc.的1.3倍（$912.5M vs $708.5M）。Medpace Holdings, Inc.净利率更高（19.1% vs 13.7%，领先5.3%）。Medpace Holdings, Inc.同比增速更快（32.0% vs 0.0%）。Medpace Holdings, Inc.自由现金流更多（$188.1M vs $165.5M）。过去两年Medpace Holdings, Inc.的营收复合增速更高（17.7% 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。
Medpace Holdings, Inc.是总部位于美国俄亥俄州辛辛那提的全球性临床研究机构（CRO），现有员工约6000人。公司采用全服务运营模式，可提供全球中心实验室、影像核心实验室、生物分析实验室服务，且在总部临床研究园区内设有I期临床试验单元。
AOS vs MEDP — 直观对比
营收规模更大
AOS
是对方的1.3倍
$708.5M
营收增速更快
MEDP
高出32.0%
0.0%
净利率更高
MEDP
高出5.3%
13.7%
自由现金流更多
MEDP
多$22.6M
$165.5M
两年增速更快
MEDP
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $708.5M |
| 净利润 | $125.4M | $135.1M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 17.9% | 21.6% |
| 净利率 | 13.7% | 19.1% |
| 营收同比 | 0.0% | 32.0% |
| 净利润同比 | 14.3% | 15.5% |
| 每股收益（稀释后） | $0.89 | $4.65 |
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AOSMEDP
| Q4 25 | $912.5M | $708.5M | ||
| Q3 25 | $942.5M | $659.9M | ||
| Q2 25 | $1.0B | $603.3M | ||
| Q1 25 | $963.9M | $558.6M | ||
| Q4 24 | $912.4M | $536.6M | ||
| Q3 24 | $902.6M | $533.3M | ||
| Q2 24 | $1.0B | $528.1M | ||
| Q1 24 | $978.8M | $511.0M |
净利润AOSMEDP
| Q4 25 | $125.4M | $135.1M | ||
| Q3 25 | $132.0M | $111.1M | ||
| Q2 25 | $152.2M | $90.3M | ||
| Q1 25 | $136.6M | $114.6M | ||
| Q4 24 | $109.7M | $117.0M | ||
| Q3 24 | $120.1M | $96.4M | ||
| Q2 24 | $156.2M | $88.4M | ||
| Q1 24 | $147.6M | $102.6M |
毛利率AOSMEDP
| 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AOSMEDP
| Q4 25 | 17.9% | 21.6% | ||
| Q3 25 | 18.6% | 21.5% | ||
| Q2 25 | 20.4% | 20.9% | ||
| Q1 25 | 19.1% | 20.3% | ||
| Q4 24 | 10.1% | 23.4% | ||
| Q3 24 | 19.5% | 21.1% | ||
| Q2 24 | 21.9% | 19.9% | ||
| Q1 24 | 22.0% | 20.4% |
净利率AOSMEDP
| Q4 25 | 13.7% | 19.1% | ||
| Q3 25 | 14.0% | 16.8% | ||
| Q2 25 | 15.0% | 15.0% | ||
| Q1 25 | 14.2% | 20.5% | ||
| Q4 24 | 12.0% | 21.8% | ||
| Q3 24 | 13.3% | 18.1% | ||
| Q2 24 | 15.2% | 16.7% | ||
| Q1 24 | 15.1% | 20.1% |
每股收益（稀释后）AOSMEDP
| Q4 25 | $0.89 | $4.65 | ||
| Q3 25 | $0.94 | $3.86 | ||
| Q2 25 | $1.07 | $3.10 | ||
| Q1 25 | $0.95 | $3.67 | ||
| Q4 24 | $0.75 | $3.67 | ||
| Q3 24 | $0.82 | $3.01 | ||
| Q2 24 | $1.06 | $2.75 | ||
| Q1 24 | $1.00 | $3.20 |
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 | $497.0M |
| 总债务越低越好 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $459.1M |
| 总资产 | $3.1B | $2.0B |
| 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AOSMEDP
| Q4 25 | $193.2M | $497.0M | ||
| Q3 25 | $172.8M | $285.4M | ||
| Q2 25 | $177.9M | $46.3M | ||
| Q1 25 | $200.2M | $441.4M | ||
| Q4 24 | $276.1M | $669.4M | ||
| Q3 24 | $255.6M | $656.9M | ||
| Q2 24 | $233.3M | $510.9M | ||
| Q1 24 | $303.1M | $407.0M |
总债务AOSMEDP
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSMEDP
| Q4 25 | $1.9B | $459.1M | ||
| Q3 25 | $1.8B | $293.6M | ||
| Q2 25 | $1.8B | $172.4M | ||
| Q1 25 | $1.9B | $593.6M | ||
| Q4 24 | $1.9B | $825.5M | ||
| Q3 24 | $1.9B | $881.4M | ||
| Q2 24 | $1.9B | $763.6M | ||
| Q1 24 | $1.9B | $671.5M |
总资产AOSMEDP
| Q4 25 | $3.1B | $2.0B | ||
| Q3 25 | $3.2B | $1.8B | ||
| Q2 25 | $3.2B | $1.6B | ||
| Q1 25 | $3.3B | $1.9B | ||
| Q4 24 | $3.2B | $2.1B | ||
| Q3 24 | $3.2B | $2.1B | ||
| Q2 24 | $3.2B | $1.9B | ||
| Q1 24 | $3.2B | $1.8B |
负债/权益比AOSMEDP
| 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 | $192.7M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $188.1M |
| 自由现金流率自由现金流/营收 | 18.1% | 26.6% |
| 资本支出强度资本支出/营收 | 1.9% | 0.6% |
| 现金转化率经营现金流/净利润 | 1.46× | 1.43× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $681.9M |
8季度趋势，按日历期对齐
经营现金流AOSMEDP
| Q4 25 | $183.1M | $192.7M | ||
| Q3 25 | $255.4M | $246.2M | ||
| Q2 25 | $139.6M | $148.5M | ||
| Q1 25 | $38.7M | $125.8M | ||
| Q4 24 | $221.9M | $190.7M | ||
| Q3 24 | $195.9M | $149.1M | ||
| Q2 24 | $57.4M | $116.4M | ||
| Q1 24 | $106.6M | $152.7M |
自由现金流AOSMEDP
| Q4 25 | $165.5M | $188.1M | ||
| Q3 25 | $240.6M | $235.5M | ||
| Q2 25 | $122.5M | $142.4M | ||
| Q1 25 | $17.4M | $115.8M | ||
| Q4 24 | $191.3M | $183.0M | ||
| Q3 24 | $163.4M | $138.5M | ||
| Q2 24 | $34.5M | $103.5M | ||
| Q1 24 | $84.6M | $147.2M |
自由现金流率AOSMEDP
| Q4 25 | 18.1% | 26.6% | ||
| Q3 25 | 25.5% | 35.7% | ||
| Q2 25 | 12.1% | 23.6% | ||
| Q1 25 | 1.8% | 20.7% | ||
| Q4 24 | 21.0% | 34.1% | ||
| Q3 24 | 18.1% | 26.0% | ||
| Q2 24 | 3.4% | 19.6% | ||
| Q1 24 | 8.6% | 28.8% |
资本支出强度AOSMEDP
| Q4 25 | 1.9% | 0.6% | ||
| Q3 25 | 1.6% | 1.6% | ||
| Q2 25 | 1.7% | 1.0% | ||
| Q1 25 | 2.2% | 1.8% | ||
| Q4 24 | 3.4% | 1.4% | ||
| Q3 24 | 3.6% | 2.0% | ||
| Q2 24 | 2.2% | 2.4% | ||
| Q1 24 | 2.2% | 1.1% |
现金转化率AOSMEDP
| Q4 25 | 1.46× | 1.43× | ||
| Q3 25 | 1.93× | 2.22× | ||
| Q2 25 | 0.92× | 1.65× | ||
| Q1 25 | 0.28× | 1.10× | ||
| Q4 24 | 2.02× | 1.63× | ||
| Q3 24 | 1.63× | 1.55× | ||
| Q2 24 | 0.37× | 1.32× | ||
| Q1 24 | 0.72× | 1.49× |
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% |
MEDP
| Metabolic | $249.8M | 35% |
| Oncology | $195.9M | 28% |
| Other | $88.3M | 12% |
| Central Nervous System | $73.2M | 10% |
| Cardiology | $63.0M | 9% |
| Antiviral And Anti Infective | $38.3M | 5% |
| Related Party | $10.3M | 1% |
