vs
A.O.史密斯（AOS）与MATERION Corp（MTRN）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MATERION Corp的1.9倍（$912.5M vs $489.8M）。A.O.史密斯净利率更高（13.7% vs 1.3%，领先12.4%）。MATERION Corp同比增速更快（12.1% vs 0.0%）。过去两年MATERION Corp的营收复合增速更高（12.7% 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。
Materion是一家专注于高性能先进材料领域的跨国企业，核心产品涵盖先进铍金属、薄膜沉积材料、高性能合金及复合材料、特种工程铍、工程金属、工业陶瓷、钽、铌等各类贵金属与非贵金属，同时提供无机化学品及特种涂层解决方案，广泛应用于高端制造领域。
AOS vs MTRN — 直观对比
营收规模更大
AOS
是对方的1.9倍
$489.8M
营收增速更快
MTRN
高出12.1%
0.0%
净利率更高
AOS
高出12.4%
1.3%
两年增速更快
MTRN
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $489.8M |
| 净利润 | $125.4M | $6.6M |
| 毛利率 | 38.4% | 13.0% |
| 营业利润率 | 17.9% | 2.2% |
| 净利率 | 13.7% | 1.3% |
| 营收同比 | 0.0% | 12.1% |
| 净利润同比 | 14.3% | 113.5% |
| 每股收益（稀释后） | $0.89 | $0.30 |
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AOSMTRN
| Q4 25 | $912.5M | $489.8M | ||
| Q3 25 | $942.5M | $444.8M | ||
| Q2 25 | $1.0B | $431.7M | ||
| Q1 25 | $963.9M | $420.3M | ||
| Q4 24 | $912.4M | $436.9M | ||
| Q3 24 | $902.6M | $436.7M | ||
| Q2 24 | $1.0B | $425.9M | ||
| Q1 24 | $978.8M | $385.3M |
净利润AOSMTRN
| Q4 25 | $125.4M | $6.6M | ||
| Q3 25 | $132.0M | $25.4M | ||
| Q2 25 | $152.2M | $25.1M | ||
| Q1 25 | $136.6M | $17.7M | ||
| Q4 24 | $109.7M | $-48.9M | ||
| Q3 24 | $120.1M | $22.3M | ||
| Q2 24 | $156.2M | $19.0M | ||
| Q1 24 | $147.6M | $13.4M |
毛利率AOSMTRN
| Q4 25 | 38.4% | 13.0% | ||
| Q3 25 | 38.7% | 19.4% | ||
| Q2 25 | 39.3% | 19.1% | ||
| Q1 25 | 38.9% | 18.1% | ||
| Q4 24 | 37.1% | 21.3% | ||
| Q3 24 | 37.4% | 18.5% | ||
| Q2 24 | 38.7% | 19.0% | ||
| Q1 24 | 39.3% | 18.5% |
营业利润率AOSMTRN
| Q4 25 | 17.9% | 2.2% | ||
| Q3 25 | 18.6% | 7.9% | ||
| Q2 25 | 20.4% | 8.5% | ||
| Q1 25 | 19.1% | 6.5% | ||
| Q4 24 | 10.1% | -8.8% | ||
| Q3 24 | 19.5% | 7.2% | ||
| Q2 24 | 21.9% | 7.5% | ||
| Q1 24 | 22.0% | 5.8% |
净利率AOSMTRN
| Q4 25 | 13.7% | 1.3% | ||
| Q3 25 | 14.0% | 5.7% | ||
| Q2 25 | 15.0% | 5.8% | ||
| Q1 25 | 14.2% | 4.2% | ||
| Q4 24 | 12.0% | -11.2% | ||
| Q3 24 | 13.3% | 5.1% | ||
| Q2 24 | 15.2% | 4.5% | ||
| Q1 24 | 15.1% | 3.5% |
每股收益（稀释后）AOSMTRN
| Q4 25 | $0.89 | $0.30 | ||
| Q3 25 | $0.94 | $1.22 | ||
| Q2 25 | $1.07 | $1.21 | ||
| Q1 25 | $0.95 | $0.85 | ||
| Q4 24 | $0.75 | $-2.34 | ||
| Q3 24 | $0.82 | $1.07 | ||
| Q2 24 | $1.06 | $0.91 | ||
| Q1 24 | $1.00 | $0.64 |
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 | $13.7M |
| 总债务越低越好 | $155.0M | $460.6M |
| 股东权益账面价值 | $1.9B | $943.3M |
| 总资产 | $3.1B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.49× |
8季度趋势，按日历期对齐
现金及短期投资AOSMTRN
| Q4 25 | $193.2M | $13.7M | ||
| Q3 25 | $172.8M | $16.4M | ||
| Q2 25 | $177.9M | $12.6M | ||
| Q1 25 | $200.2M | $15.6M | ||
| Q4 24 | $276.1M | $16.7M | ||
| Q3 24 | $255.6M | $17.9M | ||
| Q2 24 | $233.3M | $17.1M | ||
| Q1 24 | $303.1M | $13.1M |
总债务AOSMTRN
| Q4 25 | $155.0M | $460.6M | ||
| Q3 25 | — | $458.9M | ||
| Q2 25 | — | $427.6M | ||
| Q1 25 | — | $453.0M | ||
| Q4 24 | $193.2M | $443.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $477.9M |
股东权益AOSMTRN
| Q4 25 | $1.9B | $943.3M | ||
| Q3 25 | $1.8B | $934.6M | ||
| Q2 25 | $1.8B | $910.6M | ||
| Q1 25 | $1.9B | $887.9M | ||
| Q4 24 | $1.9B | $868.9M | ||
| Q3 24 | $1.9B | $931.9M | ||
| Q2 24 | $1.9B | $907.1M | ||
| Q1 24 | $1.9B | $889.9M |
总资产AOSMTRN
| Q4 25 | $3.1B | $1.8B | ||
| Q3 25 | $3.2B | $1.8B | ||
| Q2 25 | $3.2B | $1.7B | ||
| Q1 25 | $3.3B | $1.8B | ||
| Q4 24 | $3.2B | $1.7B | ||
| Q3 24 | $3.2B | $1.9B | ||
| Q2 24 | $3.2B | $1.8B | ||
| Q1 24 | $3.2B | $1.8B |
负债/权益比AOSMTRN
| Q4 25 | 0.08× | 0.49× | ||
| Q3 25 | — | 0.49× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | 0.10× | 0.51× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.54× |
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 | $19.5M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | — |
| 自由现金流率自由现金流/营收 | 18.1% | — |
| 资本支出强度资本支出/营收 | 1.9% | — |
| 现金转化率经营现金流/净利润 | 1.46× | 2.97× |
| 过去12个月自由现金流最近4个季度 | $546.0M | — |
8季度趋势，按日历期对齐
经营现金流AOSMTRN
| Q4 25 | $183.1M | $19.5M | ||
| Q3 25 | $255.4M | $18.3M | ||
| Q2 25 | $139.6M | $49.9M | ||
| Q1 25 | $38.7M | $15.5M | ||
| Q4 24 | $221.9M | $76.3M | ||
| Q3 24 | $195.9M | $5.1M | ||
| Q2 24 | $57.4M | $20.3M | ||
| Q1 24 | $106.6M | $-13.8M |
自由现金流AOSMTRN
| Q4 25 | $165.5M | — | ||
| Q3 25 | $240.6M | — | ||
| Q2 25 | $122.5M | — | ||
| Q1 25 | $17.4M | $3.2M | ||
| Q4 24 | $191.3M | — | ||
| Q3 24 | $163.4M | $-24.3M | ||
| Q2 24 | $34.5M | — | ||
| Q1 24 | $84.6M | $-35.1M |
自由现金流率AOSMTRN
| Q4 25 | 18.1% | — | ||
| Q3 25 | 25.5% | — | ||
| Q2 25 | 12.1% | — | ||
| Q1 25 | 1.8% | 0.8% | ||
| Q4 24 | 21.0% | — | ||
| Q3 24 | 18.1% | -5.6% | ||
| Q2 24 | 3.4% | — | ||
| Q1 24 | 8.6% | -9.1% |
资本支出强度AOSMTRN
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 2.2% | 2.9% | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.6% | 6.7% | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 2.2% | 5.5% |
现金转化率AOSMTRN
| Q4 25 | 1.46× | 2.97× | ||
| Q3 25 | 1.93× | 0.72× | ||
| Q2 25 | 0.92× | 1.99× | ||
| Q1 25 | 0.28× | 0.88× | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.63× | 0.23× | ||
| Q2 24 | 0.37× | 1.07× | ||
| Q1 24 | 0.72× | -1.03× |
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% |
MTRN
| Electronic Materials | $313.9M | 64% |
| Aerospaceand Defense | $48.4M | 10% |
| Industrial Components | $34.3M | 7% |
| Precision Optics | $27.5M | 6% |
| Other End Market | $22.3M | 5% |
| Energy | $18.8M | 4% |
| Automotive Electronics | $18.5M | 4% |
| Semiconductor | $3.6M | 1% |
| Consumer Electronics | $362.0K | 0% |
