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A.O.史密斯（AOS）与MANITOWOC CO INC（MTW）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MANITOWOC CO INC的1.3倍（$912.5M vs $677.1M）。A.O.史密斯净利率更高（13.7% vs 1.0%，领先12.7%）。MANITOWOC CO INC同比增速更快（13.6% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $78.3M）。过去两年MANITOWOC CO INC的营收复合增速更高（16.9% 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。
马尼托瓦克公司是一家美国工程机械制造企业，创立于1902年，核心产品为起重机械，历史上曾生产商用制冷设备与船舶设备。公司通过全资子公司，围绕Grove、马尼托瓦克、Potain等多个品牌，设计、生产、销售移动式伸缩臂起重机、塔式起重机、履带式起重机等设备，并提供相关售后服务支持。
AOS vs MTW — 直观对比
营收规模更大
AOS
是对方的1.3倍
$677.1M
营收增速更快
MTW
高出13.6%
0.0%
净利率更高
AOS
高出12.7%
1.0%
自由现金流更多
AOS
多$87.2M
$78.3M
两年增速更快
MTW
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $677.1M |
| 净利润 | $125.4M | $7.0M |
| 毛利率 | 38.4% | 16.7% |
| 营业利润率 | 17.9% | 3.0% |
| 净利率 | 13.7% | 1.0% |
| 营收同比 | 0.0% | 13.6% |
| 净利润同比 | 14.3% | -87.7% |
| 每股收益（稀释后） | $0.89 | $0.20 |
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AOSMTW
| Q4 25 | $912.5M | $677.1M | ||
| Q3 25 | $942.5M | $553.4M | ||
| Q2 25 | $1.0B | $539.5M | ||
| Q1 25 | $963.9M | $470.9M | ||
| Q4 24 | $912.4M | $596.0M | ||
| Q3 24 | $902.6M | $524.8M | ||
| Q2 24 | $1.0B | $562.1M | ||
| Q1 24 | $978.8M | $495.1M |
净利润AOSMTW
| Q4 25 | $125.4M | $7.0M | ||
| Q3 25 | $132.0M | $5.0M | ||
| Q2 25 | $152.2M | $1.5M | ||
| Q1 25 | $136.6M | $-6.3M | ||
| Q4 24 | $109.7M | $56.7M | ||
| Q3 24 | $120.1M | $-7.0M | ||
| Q2 24 | $156.2M | $1.6M | ||
| Q1 24 | $147.6M | $4.5M |
毛利率AOSMTW
| Q4 25 | 38.4% | 16.7% | ||
| Q3 25 | 38.7% | 18.5% | ||
| Q2 25 | 39.3% | 18.4% | ||
| Q1 25 | 38.9% | 19.1% | ||
| Q4 24 | 37.1% | 16.0% | ||
| Q3 24 | 37.4% | 16.7% | ||
| Q2 24 | 38.7% | 17.7% | ||
| Q1 24 | 39.3% | 18.7% |
营业利润率AOSMTW
| Q4 25 | 17.9% | 3.0% | ||
| Q3 25 | 18.6% | 3.3% | ||
| Q2 25 | 20.4% | 1.8% | ||
| Q1 25 | 19.1% | 1.1% | ||
| Q4 24 | 10.1% | 2.7% | ||
| Q3 24 | 19.5% | 1.4% | ||
| Q2 24 | 21.9% | 2.3% | ||
| Q1 24 | 22.0% | 3.1% |
净利率AOSMTW
| Q4 25 | 13.7% | 1.0% | ||
| Q3 25 | 14.0% | 0.9% | ||
| Q2 25 | 15.0% | 0.3% | ||
| Q1 25 | 14.2% | -1.3% | ||
| Q4 24 | 12.0% | 9.5% | ||
| Q3 24 | 13.3% | -1.3% | ||
| Q2 24 | 15.2% | 0.3% | ||
| Q1 24 | 15.1% | 0.9% |
每股收益（稀释后）AOSMTW
| Q4 25 | $0.89 | $0.20 | ||
| Q3 25 | $0.94 | $0.14 | ||
| Q2 25 | $1.07 | $0.04 | ||
| Q1 25 | $0.95 | $-0.18 | ||
| Q4 24 | $0.75 | $1.60 | ||
| Q3 24 | $0.82 | $-0.20 | ||
| Q2 24 | $1.06 | $0.04 | ||
| Q1 24 | $1.00 | $0.12 |
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 | $77.3M |
| 总债务越低越好 | $155.0M | $447.1M |
| 股东权益账面价值 | $1.9B | $695.2M |
| 总资产 | $3.1B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资AOSMTW
| Q4 25 | $193.2M | $77.3M | ||
| Q3 25 | $172.8M | $39.7M | ||
| Q2 25 | $177.9M | $32.9M | ||
| Q1 25 | $200.2M | $41.4M | ||
| Q4 24 | $276.1M | $48.0M | ||
| Q3 24 | $255.6M | $22.9M | ||
| Q2 24 | $233.3M | $38.1M | ||
| Q1 24 | $303.1M | $31.5M |
总债务AOSMTW
| Q4 25 | $155.0M | $447.1M | ||
| Q3 25 | — | $479.9M | ||
| Q2 25 | — | $459.8M | ||
| Q1 25 | — | $381.4M | ||
| Q4 24 | $193.2M | $377.1M | ||
| Q3 24 | — | $426.7M | ||
| Q2 24 | — | $406.3M | ||
| Q1 24 | — | $372.7M |
股东权益AOSMTW
| Q4 25 | $1.9B | $695.2M | ||
| Q3 25 | $1.8B | $682.7M | ||
| Q2 25 | $1.8B | $681.3M | ||
| Q1 25 | $1.9B | $651.6M | ||
| Q4 24 | $1.9B | $640.1M | ||
| Q3 24 | $1.9B | $607.6M | ||
| Q2 24 | $1.9B | $592.3M | ||
| Q1 24 | $1.9B | $596.0M |
总资产AOSMTW
| Q4 25 | $3.1B | $1.8B | ||
| Q3 25 | $3.2B | $1.9B | ||
| Q2 25 | $3.2B | $1.9B | ||
| Q1 25 | $3.3B | $1.8B | ||
| Q4 24 | $3.2B | $1.7B | ||
| Q3 24 | $3.2B | $1.8B | ||
| Q2 24 | $3.2B | $1.7B | ||
| Q1 24 | $3.2B | $1.8B |
负债/权益比AOSMTW
| Q4 25 | 0.08× | 0.64× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | 0.67× | ||
| Q1 25 | — | 0.59× | ||
| Q4 24 | 0.10× | 0.59× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.63× |
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 | $91.1M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $78.3M |
| 自由现金流率自由现金流/营收 | 18.1% | 11.6% |
| 资本支出强度资本支出/营收 | 1.9% | 1.9% |
| 现金转化率经营现金流/净利润 | 1.46× | 13.01× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $-15.3M |
8季度趋势，按日历期对齐
经营现金流AOSMTW
| Q4 25 | $183.1M | $91.1M | ||
| Q3 25 | $255.4M | $-14.1M | ||
| Q2 25 | $139.6M | $-67.7M | ||
| Q1 25 | $38.7M | $12.9M | ||
| Q4 24 | $221.9M | $112.4M | ||
| Q3 24 | $195.9M | $-43.6M | ||
| Q2 24 | $57.4M | $11.0M | ||
| Q1 24 | $106.6M | $-30.6M |
自由现金流AOSMTW
| Q4 25 | $165.5M | $78.3M | ||
| Q3 25 | $240.6M | $-22.0M | ||
| Q2 25 | $122.5M | $-73.7M | ||
| Q1 25 | $17.4M | $2.1M | ||
| Q4 24 | $191.3M | $101.1M | ||
| Q3 24 | $163.4M | $-52.9M | ||
| Q2 24 | $34.5M | $-1.9M | ||
| Q1 24 | $84.6M | $-42.8M |
自由现金流率AOSMTW
| Q4 25 | 18.1% | 11.6% | ||
| Q3 25 | 25.5% | -4.0% | ||
| Q2 25 | 12.1% | -13.7% | ||
| Q1 25 | 1.8% | 0.4% | ||
| Q4 24 | 21.0% | 17.0% | ||
| Q3 24 | 18.1% | -10.1% | ||
| Q2 24 | 3.4% | -0.3% | ||
| Q1 24 | 8.6% | -8.6% |
资本支出强度AOSMTW
| Q4 25 | 1.9% | 1.9% | ||
| Q3 25 | 1.6% | 1.4% | ||
| Q2 25 | 1.7% | 1.1% | ||
| Q1 25 | 2.2% | 2.3% | ||
| Q4 24 | 3.4% | 1.9% | ||
| Q3 24 | 3.6% | 1.8% | ||
| Q2 24 | 2.2% | 2.3% | ||
| Q1 24 | 2.2% | 2.5% |
现金转化率AOSMTW
| Q4 25 | 1.46× | 13.01× | ||
| Q3 25 | 1.93× | -2.82× | ||
| Q2 25 | 0.92× | -45.13× | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 2.02× | 1.98× | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | 6.88× | ||
| Q1 24 | 0.72× | -6.80× |
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% |
MTW
| US | $344.5M | 51% |
| Europe | $193.8M | 29% |
| Other Countries | $138.8M | 20% |
