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A.O.史密斯（AOS）与MYR GROUP INC.（MYRG）财务数据对比。点击上方公司名可切换其他公司
MYR GROUP INC.的季度营收约是A.O.史密斯的1.1倍（$973.5M vs $912.5M）。A.O.史密斯净利率更高（13.7% vs 3.8%，领先10.0%）。MYR GROUP INC.同比增速更快（17.3% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $84.9M）。过去两年MYR GROUP INC.的营收复合增速更高（9.3% 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。
MYR集团是美国知名电气建设服务提供商，业务覆盖输配电线路、变电站、工商业建筑及可再生能源领域的电气施工，旗下拥有12家电气建设子公司，在北美电力基建赛道拥有深厚的技术积累与项目交付能力。
AOS vs MYRG — 直观对比
营收规模更大
MYRG
是对方的1.1倍
$912.5M
营收增速更快
MYRG
高出17.3%
0.0%
净利率更高
AOS
高出10.0%
3.8%
自由现金流更多
AOS
多$80.6M
$84.9M
两年增速更快
MYRG
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $973.5M |
| 净利润 | $125.4M | $36.5M |
| 毛利率 | 38.4% | 11.4% |
| 营业利润率 | 17.9% | 4.8% |
| 净利率 | 13.7% | 3.8% |
| 营收同比 | 0.0% | 17.3% |
| 净利润同比 | 14.3% | 129.1% |
| 每股收益（稀释后） | $0.89 | $2.33 |
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AOSMYRG
| Q4 25 | $912.5M | $973.5M | ||
| Q3 25 | $942.5M | $950.4M | ||
| Q2 25 | $1.0B | $900.3M | ||
| Q1 25 | $963.9M | $833.6M | ||
| Q4 24 | $912.4M | $829.8M | ||
| Q3 24 | $902.6M | $888.0M | ||
| Q2 24 | $1.0B | $828.9M | ||
| Q1 24 | $978.8M | $815.6M |
净利润AOSMYRG
| Q4 25 | $125.4M | $36.5M | ||
| Q3 25 | $132.0M | $32.1M | ||
| Q2 25 | $152.2M | $26.5M | ||
| Q1 25 | $136.6M | $23.3M | ||
| Q4 24 | $109.7M | $16.0M | ||
| Q3 24 | $120.1M | $10.6M | ||
| Q2 24 | $156.2M | $-15.3M | ||
| Q1 24 | $147.6M | $18.9M |
毛利率AOSMYRG
| Q4 25 | 38.4% | 11.4% | ||
| Q3 25 | 38.7% | 11.8% | ||
| Q2 25 | 39.3% | 11.5% | ||
| Q1 25 | 38.9% | 11.6% | ||
| Q4 24 | 37.1% | 10.4% | ||
| Q3 24 | 37.4% | 8.7% | ||
| Q2 24 | 38.7% | 4.9% | ||
| Q1 24 | 39.3% | 10.6% |
营业利润率AOSMYRG
| Q4 25 | 17.9% | 4.8% | ||
| Q3 25 | 18.6% | 4.9% | ||
| Q2 25 | 20.4% | 4.4% | ||
| Q1 25 | 19.1% | 4.1% | ||
| Q4 24 | 10.1% | 3.6% | ||
| Q3 24 | 19.5% | 2.3% | ||
| Q2 24 | 21.9% | -2.5% | ||
| Q1 24 | 22.0% | 3.0% |
净利率AOSMYRG
| Q4 25 | 13.7% | 3.8% | ||
| Q3 25 | 14.0% | 3.4% | ||
| Q2 25 | 15.0% | 2.9% | ||
| Q1 25 | 14.2% | 2.8% | ||
| Q4 24 | 12.0% | 1.9% | ||
| Q3 24 | 13.3% | 1.2% | ||
| Q2 24 | 15.2% | -1.8% | ||
| Q1 24 | 15.1% | 2.3% |
每股收益（稀释后）AOSMYRG
| Q4 25 | $0.89 | $2.33 | ||
| Q3 25 | $0.94 | $2.05 | ||
| Q2 25 | $1.07 | $1.70 | ||
| Q1 25 | $0.95 | $1.45 | ||
| Q4 24 | $0.75 | $0.97 | ||
| Q3 24 | $0.82 | $0.65 | ||
| Q2 24 | $1.06 | $-0.91 | ||
| Q1 24 | $1.00 | $1.12 |
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 | $150.2M |
| 总债务越低越好 | $155.0M | $59.0M |
| 股东权益账面价值 | $1.9B | $660.4M |
| 总资产 | $3.1B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资AOSMYRG
| Q4 25 | $193.2M | $150.2M | ||
| Q3 25 | $172.8M | $76.2M | ||
| Q2 25 | $177.9M | $23.0M | ||
| Q1 25 | $200.2M | $10.9M | ||
| Q4 24 | $276.1M | $3.5M | ||
| Q3 24 | $255.6M | $7.6M | ||
| Q2 24 | $233.3M | $1.9M | ||
| Q1 24 | $303.1M | $3.9M |
总债务AOSMYRG
| Q4 25 | $155.0M | $59.0M | ||
| Q3 25 | — | $72.0M | ||
| Q2 25 | — | $86.1M | ||
| Q1 25 | — | $87.2M | ||
| Q4 24 | $193.2M | $74.4M | ||
| Q3 24 | — | $93.2M | ||
| Q2 24 | — | $45.1M | ||
| Q1 24 | — | $37.9M |
股东权益AOSMYRG
| Q4 25 | $1.9B | $660.4M | ||
| Q3 25 | $1.8B | $617.6M | ||
| Q2 25 | $1.8B | $583.2M | ||
| Q1 25 | $1.9B | $548.7M | ||
| Q4 24 | $1.9B | $600.4M | ||
| Q3 24 | $1.9B | $588.5M | ||
| Q2 24 | $1.9B | $633.3M | ||
| Q1 24 | $1.9B | $663.7M |
总资产AOSMYRG
| Q4 25 | $3.1B | $1.6B | ||
| Q3 25 | $3.2B | $1.6B | ||
| Q2 25 | $3.2B | $1.6B | ||
| Q1 25 | $3.3B | $1.5B | ||
| Q4 24 | $3.2B | $1.6B | ||
| Q3 24 | $3.2B | $1.6B | ||
| Q2 24 | $3.2B | $1.6B | ||
| Q1 24 | $3.2B | $1.6B |
负债/权益比AOSMYRG
| Q4 25 | 0.08× | 0.09× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | 0.10× | 0.12× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.06× |
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 | $114.8M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $84.9M |
| 自由现金流率自由现金流/营收 | 18.1% | 8.7% |
| 资本支出强度资本支出/营收 | 1.9% | 3.1% |
| 现金转化率经营现金流/净利润 | 1.46× | 3.14× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $232.2M |
8季度趋势，按日历期对齐
经营现金流AOSMYRG
| Q4 25 | $183.1M | $114.8M | ||
| Q3 25 | $255.4M | $95.6M | ||
| Q2 25 | $139.6M | $32.9M | ||
| Q1 25 | $38.7M | $83.3M | ||
| Q4 24 | $221.9M | $21.1M | ||
| Q3 24 | $195.9M | $35.6M | ||
| Q2 24 | $57.4M | $22.7M | ||
| Q1 24 | $106.6M | $7.7M |
自由现金流AOSMYRG
| Q4 25 | $165.5M | $84.9M | ||
| Q3 25 | $240.6M | $65.4M | ||
| Q2 25 | $122.5M | $11.6M | ||
| Q1 25 | $17.4M | $70.2M | ||
| Q4 24 | $191.3M | $8.8M | ||
| Q3 24 | $163.4M | $18.0M | ||
| Q2 24 | $34.5M | $2.5M | ||
| Q1 24 | $84.6M | $-18.1M |
自由现金流率AOSMYRG
| Q4 25 | 18.1% | 8.7% | ||
| Q3 25 | 25.5% | 6.9% | ||
| Q2 25 | 12.1% | 1.3% | ||
| Q1 25 | 1.8% | 8.4% | ||
| Q4 24 | 21.0% | 1.1% | ||
| Q3 24 | 18.1% | 2.0% | ||
| Q2 24 | 3.4% | 0.3% | ||
| Q1 24 | 8.6% | -2.2% |
资本支出强度AOSMYRG
| Q4 25 | 1.9% | 3.1% | ||
| Q3 25 | 1.6% | 3.2% | ||
| Q2 25 | 1.7% | 2.4% | ||
| Q1 25 | 2.2% | 1.6% | ||
| Q4 24 | 3.4% | 1.5% | ||
| Q3 24 | 3.6% | 2.0% | ||
| Q2 24 | 2.2% | 2.4% | ||
| Q1 24 | 2.2% | 3.2% |
现金转化率AOSMYRG
| Q4 25 | 1.46× | 3.14× | ||
| Q3 25 | 1.93× | 2.98× | ||
| Q2 25 | 0.92× | 1.24× | ||
| Q1 25 | 0.28× | 3.57× | ||
| Q4 24 | 2.02× | 1.32× | ||
| Q3 24 | 1.63× | 3.35× | ||
| Q2 24 | 0.37× | — | ||
| Q1 24 | 0.72× | 0.41× |
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% |
MYRG
| Market Type Electrical Construction | $442.6M | 45% |
| Market Type Transmission | $330.3M | 34% |
| Market Type Distribution | $200.6M | 21% |
