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A.O.史密斯（AOS）与Martin Marietta Materials（MLM）财务数据对比。点击上方公司名可切换其他公司
Martin Marietta Materials的季度营收约是A.O.史密斯的1.2倍（$1.1B vs $945.6M），Martin Marietta Materials净利率更高（24.5% vs 12.5%，领先12.0%），A.O.史密斯同比增速更快（-2.0% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $118.9M），过去两年A.O.史密斯的营收复合增速更高（-3.9% vs -4.5%）
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。
马丁·玛丽埃塔材料公司是美国大型集料及重型建筑材料供应商，业务覆盖美国26个州、加拿大及加勒比地区，主要为道路、人行道、地基等各类基建项目提供所需原材料。
AOS vs MLM — 直观对比
营收规模更大
MLM
是对方的1.2倍
$945.6M
营收增速更快
AOS
高出28.1%
-30.1%
净利率更高
MLM
高出12.0%
12.5%
自由现金流更多
MLM
多$305.1M
$118.9M
两年增速更快
AOS
近两年复合增速
-4.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $945.6M | $1.1B |
| 净利润 | $118.0M | $279.0M |
| 毛利率 | 38.7% | 35.0% |
| 营业利润率 | — | 24.6% |
| 净利率 | 12.5% | 24.5% |
| 营收同比 | -2.0% | -30.1% |
| 净利润同比 | -14.0% | -4.8% |
| 每股收益（稀释后） | $0.85 | $4.59 |
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AOSMLM
| Q1 26 | $945.6M | — | ||
| Q4 25 | $912.5M | $1.1B | ||
| Q3 25 | $942.5M | $1.8B | ||
| Q2 25 | $1.0B | $1.8B | ||
| Q1 25 | $963.9M | $1.4B | ||
| Q4 24 | $912.4M | $1.6B | ||
| Q3 24 | $902.6M | $1.9B | ||
| Q2 24 | $1.0B | $1.8B |
净利润AOSMLM
| Q1 26 | $118.0M | — | ||
| Q4 25 | $125.4M | $279.0M | ||
| Q3 25 | $132.0M | $414.0M | ||
| Q2 25 | $152.2M | $328.0M | ||
| Q1 25 | $136.6M | $116.0M | ||
| Q4 24 | $109.7M | $293.0M | ||
| Q3 24 | $120.1M | $363.0M | ||
| Q2 24 | $156.2M | $294.0M |
毛利率AOSMLM
| Q1 26 | 38.7% | — | ||
| Q4 25 | 38.4% | 35.0% | ||
| Q3 25 | 38.7% | 33.1% | ||
| Q2 25 | 39.3% | 30.0% | ||
| Q1 25 | 38.9% | 24.8% | ||
| Q4 24 | 37.1% | 30.0% | ||
| Q3 24 | 37.4% | 31.7% | ||
| Q2 24 | 38.7% | 29.3% |
营业利润率AOSMLM
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | 24.6% | ||
| Q3 25 | 18.6% | 27.4% | ||
| Q2 25 | 20.4% | 25.3% | ||
| Q1 25 | 19.1% | 14.3% | ||
| Q4 24 | 10.1% | 24.4% | ||
| Q3 24 | 19.5% | 25.9% | ||
| Q2 24 | 21.9% | 22.6% |
净利率AOSMLM
| Q1 26 | 12.5% | — | ||
| Q4 25 | 13.7% | 24.5% | ||
| Q3 25 | 14.0% | 22.4% | ||
| Q2 25 | 15.0% | 18.1% | ||
| Q1 25 | 14.2% | 8.6% | ||
| Q4 24 | 12.0% | 18.0% | ||
| Q3 24 | 13.3% | 19.2% | ||
| Q2 24 | 15.2% | 16.7% |
每股收益（稀释后）AOSMLM
| Q1 26 | $0.85 | — | ||
| Q4 25 | $0.89 | $4.59 | ||
| Q3 25 | $0.94 | $6.85 | ||
| Q2 25 | $1.07 | $5.43 | ||
| Q1 25 | $0.95 | $1.90 | ||
| Q4 24 | $0.75 | $4.87 | ||
| Q3 24 | $0.82 | $5.91 | ||
| Q2 24 | $1.06 | $4.76 |
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 | $67.0M |
| 总债务越低越好 | $574.2M | $5.3B |
| 股东权益账面价值 | $1.9B | $10.0B |
| 总资产 | $3.7B | $18.7B |
| 负债/权益比越低杠杆越低 | 0.31× | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资AOSMLM
| Q1 26 | $185.2M | — | ||
| Q4 25 | $193.2M | $67.0M | ||
| Q3 25 | $172.8M | $57.0M | ||
| Q2 25 | $177.9M | $225.0M | ||
| Q1 25 | $200.2M | $101.0M | ||
| Q4 24 | $276.1M | $670.0M | ||
| Q3 24 | $255.6M | $52.0M | ||
| Q2 24 | $233.3M | $109.0M |
总债务AOSMLM
| Q1 26 | $574.2M | — | ||
| Q4 25 | $155.0M | $5.3B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.4B | ||
| Q4 24 | $193.2M | $5.4B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.3B |
股东权益AOSMLM
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $10.0B | ||
| Q3 25 | $1.8B | $9.7B | ||
| Q2 25 | $1.8B | $9.4B | ||
| Q1 25 | $1.9B | $9.1B | ||
| Q4 24 | $1.9B | $9.5B | ||
| Q3 24 | $1.9B | $9.2B | ||
| Q2 24 | $1.9B | $8.8B |
总资产AOSMLM
| Q1 26 | $3.7B | — | ||
| Q4 25 | $3.1B | $18.7B | ||
| Q3 25 | $3.2B | $18.7B | ||
| Q2 25 | $3.2B | $18.1B | ||
| Q1 25 | $3.3B | $17.7B | ||
| Q4 24 | $3.2B | $18.2B | ||
| Q3 24 | $3.2B | $16.5B | ||
| Q2 24 | $3.2B | $16.3B |
负债/权益比AOSMLM
| Q1 26 | 0.31× | — | ||
| Q4 25 | 0.08× | 0.53× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | 0.10× | 0.57× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.49× |
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 | — | $629.0M |
| 自由现金流经营现金流 - 资本支出 | $118.9M | $424.0M |
| 自由现金流率自由现金流/营收 | 12.6% | 37.2% |
| 资本支出强度资本支出/营收 | 1.1% | 18.0% |
| 现金转化率经营现金流/净利润 | — | 2.25× |
| 过去12个月自由现金流最近4个季度 | $647.5M | $978.0M |
8季度趋势，按日历期对齐
经营现金流AOSMLM
| Q1 26 | — | — | ||
| Q4 25 | $183.1M | $629.0M | ||
| Q3 25 | $255.4M | $551.0M | ||
| Q2 25 | $139.6M | $387.0M | ||
| Q1 25 | $38.7M | $218.0M | ||
| Q4 24 | $221.9M | $686.0M | ||
| Q3 24 | $195.9M | $600.0M | ||
| Q2 24 | $57.4M | $1.0M |
自由现金流AOSMLM
| Q1 26 | $118.9M | — | ||
| Q4 25 | $165.5M | $424.0M | ||
| Q3 25 | $240.6M | $361.0M | ||
| Q2 25 | $122.5M | $208.0M | ||
| Q1 25 | $17.4M | $-15.0M | ||
| Q4 24 | $191.3M | $453.0M | ||
| Q3 24 | $163.4M | $317.0M | ||
| Q2 24 | $34.5M | $-138.0M |
自由现金流率AOSMLM
| Q1 26 | 12.6% | — | ||
| Q4 25 | 18.1% | 37.2% | ||
| Q3 25 | 25.5% | 19.6% | ||
| Q2 25 | 12.1% | 11.5% | ||
| Q1 25 | 1.8% | -1.1% | ||
| Q4 24 | 21.0% | 27.8% | ||
| Q3 24 | 18.1% | 16.8% | ||
| Q2 24 | 3.4% | -7.8% |
资本支出强度AOSMLM
| Q1 26 | 1.1% | — | ||
| Q4 25 | 1.9% | 18.0% | ||
| Q3 25 | 1.6% | 10.3% | ||
| Q2 25 | 1.7% | 9.9% | ||
| Q1 25 | 2.2% | 17.2% | ||
| Q4 24 | 3.4% | 14.3% | ||
| Q3 24 | 3.6% | 15.0% | ||
| Q2 24 | 2.2% | 7.9% |
现金转化率AOSMLM
| Q1 26 | — | — | ||
| Q4 25 | 1.46× | 2.25× | ||
| Q3 25 | 1.93× | 1.33× | ||
| Q2 25 | 0.92× | 1.18× | ||
| Q1 25 | 0.28× | 1.88× | ||
| Q4 24 | 2.02× | 2.34× | ||
| Q3 24 | 1.63× | 1.65× | ||
| Q2 24 | 0.37× | 0.00× |
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
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
