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A.O.史密斯（AOS）与NPK International Inc.（NPKI）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NPK International Inc.的12.1倍（$912.5M vs $75.2M）。NPK International Inc.同比增速更快（30.7% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $5.8M）。过去两年NPK International Inc.的营收复合增速更高（23.9% 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。
AOS vs NPKI — 直观对比
营收规模更大
AOS
是对方的12.1倍
$75.2M
营收增速更快
NPKI
高出30.7%
0.0%
自由现金流更多
AOS
多$159.7M
$5.8M
两年增速更快
NPKI
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $75.2M |
| 净利润 | $125.4M | — |
| 毛利率 | 38.4% | 37.7% |
| 营业利润率 | 17.9% | 16.7% |
| 净利率 | 13.7% | — |
| 营收同比 | 0.0% | 30.7% |
| 净利润同比 | 14.3% | — |
| 每股收益（稀释后） | $0.89 | $0.17 |
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AOSNPKI
| Q4 25 | $912.5M | $75.2M | ||
| Q3 25 | $942.5M | $68.8M | ||
| Q2 25 | $1.0B | $68.2M | ||
| Q1 25 | $963.9M | $64.8M | ||
| Q4 24 | $912.4M | $57.5M | ||
| Q3 24 | $902.6M | $44.2M | ||
| Q2 24 | $1.0B | $66.8M | ||
| Q1 24 | $978.8M | $49.0M |
净利润AOSNPKI
| Q4 25 | $125.4M | — | ||
| Q3 25 | $132.0M | $5.7M | ||
| Q2 25 | $152.2M | $8.7M | ||
| Q1 25 | $136.6M | $10.0M | ||
| Q4 24 | $109.7M | — | ||
| Q3 24 | $120.1M | $-174.3M | ||
| Q2 24 | $156.2M | $8.0M | ||
| Q1 24 | $147.6M | $7.3M |
毛利率AOSNPKI
| Q4 25 | 38.4% | 37.7% | ||
| Q3 25 | 38.7% | 31.9% | ||
| Q2 25 | 39.3% | 36.9% | ||
| Q1 25 | 38.9% | 39.0% | ||
| Q4 24 | 37.1% | 39.2% | ||
| Q3 24 | 37.4% | 27.5% | ||
| Q2 24 | 38.7% | 37.2% | ||
| Q1 24 | 39.3% | 36.0% |
营业利润率AOSNPKI
| Q4 25 | 17.9% | 16.7% | ||
| Q3 25 | 18.6% | 13.2% | ||
| Q2 25 | 20.4% | 17.0% | ||
| Q1 25 | 19.1% | 20.9% | ||
| Q4 24 | 10.1% | 20.2% | ||
| Q3 24 | 19.5% | 2.8% | ||
| Q2 24 | 21.9% | 18.7% | ||
| Q1 24 | 22.0% | 14.2% |
净利率AOSNPKI
| Q4 25 | 13.7% | — | ||
| Q3 25 | 14.0% | 8.2% | ||
| Q2 25 | 15.0% | 12.7% | ||
| Q1 25 | 14.2% | 15.4% | ||
| Q4 24 | 12.0% | — | ||
| Q3 24 | 13.3% | -394.3% | ||
| Q2 24 | 15.2% | 12.0% | ||
| Q1 24 | 15.1% | 14.9% |
每股收益（稀释后）AOSNPKI
| Q4 25 | $0.89 | $0.17 | ||
| Q3 25 | $0.94 | $0.07 | ||
| Q2 25 | $1.07 | $0.10 | ||
| Q1 25 | $0.95 | $0.11 | ||
| Q4 24 | $0.75 | $0.10 | ||
| Q3 24 | $0.82 | $-1.99 | ||
| Q2 24 | $1.06 | $0.09 | ||
| Q1 24 | $1.00 | $0.08 |
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 | $5.1M |
| 总债务越低越好 | $155.0M | $16.9M |
| 股东权益账面价值 | $1.9B | $351.2M |
| 总资产 | $3.1B | $441.8M |
| 负债/权益比越低杠杆越低 | 0.08× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资AOSNPKI
| Q4 25 | $193.2M | $5.1M | ||
| Q3 25 | $172.8M | $35.6M | ||
| Q2 25 | $177.9M | $26.0M | ||
| Q1 25 | $200.2M | $20.8M | ||
| Q4 24 | $276.1M | $17.8M | ||
| Q3 24 | $255.6M | $42.9M | ||
| Q2 24 | $233.3M | $35.1M | ||
| Q1 24 | $303.1M | $37.7M |
总债务AOSNPKI
| Q4 25 | $155.0M | $16.9M | ||
| Q3 25 | — | $9.5M | ||
| Q2 25 | — | $9.3M | ||
| Q1 25 | — | $8.1M | ||
| Q4 24 | $193.2M | $7.7M | ||
| Q3 24 | — | $14.0M | ||
| Q2 24 | — | $58.0M | ||
| Q1 24 | — | $77.4M |
股东权益AOSNPKI
| Q4 25 | $1.9B | $351.2M | ||
| Q3 25 | $1.8B | $333.9M | ||
| Q2 25 | $1.8B | $328.8M | ||
| Q1 25 | $1.9B | $326.9M | ||
| Q4 24 | $1.9B | $326.5M | ||
| Q3 24 | $1.9B | $316.5M | ||
| Q2 24 | $1.9B | $426.6M | ||
| Q1 24 | $1.9B | $421.6M |
总资产AOSNPKI
| Q4 25 | $3.1B | $441.8M | ||
| Q3 25 | $3.2B | $404.5M | ||
| Q2 25 | $3.2B | $393.7M | ||
| Q1 25 | $3.3B | $390.0M | ||
| Q4 24 | $3.2B | $393.7M | ||
| Q3 24 | $3.2B | $389.6M | ||
| Q2 24 | $3.2B | $624.8M | ||
| Q1 24 | $3.2B | $640.8M |
负债/权益比AOSNPKI
| Q4 25 | 0.08× | 0.05× | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | — | 0.03× | ||
| Q1 25 | — | 0.02× | ||
| Q4 24 | 0.10× | 0.02× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.18× |
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 | $18.0M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $5.8M |
| 自由现金流率自由现金流/营收 | 18.1% | 7.6% |
| 资本支出强度资本支出/营收 | 1.9% | 16.3% |
| 现金转化率经营现金流/净利润 | 1.46× | — |
| 过去12个月自由现金流最近4个季度 | $546.0M | $26.3M |
8季度趋势，按日历期对齐
经营现金流AOSNPKI
| Q4 25 | $183.1M | $18.0M | ||
| Q3 25 | $255.4M | $24.7M | ||
| Q2 25 | $139.6M | $21.4M | ||
| Q1 25 | $38.7M | $8.8M | ||
| Q4 24 | $221.9M | $-4.1M | ||
| Q3 24 | $195.9M | $2.8M | ||
| Q2 24 | $57.4M | $27.6M | ||
| Q1 24 | $106.6M | $11.9M |
自由现金流AOSNPKI
| Q4 25 | $165.5M | $5.8M | ||
| Q3 25 | $240.6M | $12.0M | ||
| Q2 25 | $122.5M | $9.7M | ||
| Q1 25 | $17.4M | $-1.2M | ||
| Q4 24 | $191.3M | $-17.7M | ||
| Q3 24 | $163.4M | $-6.7M | ||
| Q2 24 | $34.5M | $21.0M | ||
| Q1 24 | $84.6M | $-1.9M |
自由现金流率AOSNPKI
| Q4 25 | 18.1% | 7.6% | ||
| Q3 25 | 25.5% | 17.4% | ||
| Q2 25 | 12.1% | 14.3% | ||
| Q1 25 | 1.8% | -1.8% | ||
| Q4 24 | 21.0% | -30.8% | ||
| Q3 24 | 18.1% | -15.2% | ||
| Q2 24 | 3.4% | 31.4% | ||
| Q1 24 | 8.6% | -3.9% |
资本支出强度AOSNPKI
| Q4 25 | 1.9% | 16.3% | ||
| Q3 25 | 1.6% | 18.5% | ||
| Q2 25 | 1.7% | 17.1% | ||
| Q1 25 | 2.2% | 15.5% | ||
| Q4 24 | 3.4% | 23.6% | ||
| Q3 24 | 3.6% | 21.4% | ||
| Q2 24 | 2.2% | 9.9% | ||
| Q1 24 | 2.2% | 28.3% |
现金转化率AOSNPKI
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | 4.37× | ||
| Q2 25 | 0.92× | 2.47× | ||
| Q1 25 | 0.28× | 0.88× | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | 3.43× | ||
| Q1 24 | 0.72× | 1.64× |
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% |
NPKI
| Rental Revenue | $34.8M | 46% |
| Products | $25.5M | 34% |
| Services | $14.9M | 20% |
