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A.O.史密斯（AOS）与PIPER SANDLER COMPANIES（PIPR）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PIPER SANDLER COMPANIES的1.4倍（$945.6M vs $667.0M），PIPER SANDLER COMPANIES净利率更高（17.1% vs 12.5%，领先4.6%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs -2.0%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% vs -3.9%）
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。
Piper Sandler是一家美国跨国投资银行及金融服务提供商，核心业务覆盖并购重组、财务重整、公开募股、公共财政、机构经纪、投资管理、证券研究等领域，通过旗下核心子公司Piper Sandler & Co.为企业、机构投资者及公共组织提供专业金融服务。
AOS vs PIPR — 直观对比
营收规模更大
AOS
是对方的1.4倍
$667.0M
营收增速更快
PIPR
高出39.4%
-2.0%
净利率更高
PIPR
高出4.6%
12.5%
两年增速更快
PIPR
近两年复合增速
-3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $945.6M | $667.0M |
| 净利润 | $118.0M | $114.0M |
| 毛利率 | 38.7% | — |
| 营业利润率 | — | 28.3% |
| 净利率 | 12.5% | 17.1% |
| 营收同比 | -2.0% | 37.4% |
| 净利润同比 | -14.0% | 65.0% |
| 每股收益（稀释后） | $0.85 | $6.41 |
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AOSPIPR
| Q1 26 | $945.6M | — | ||
| Q4 25 | $912.5M | $667.0M | ||
| Q3 25 | $942.5M | $480.1M | ||
| Q2 25 | $1.0B | $398.6M | ||
| Q1 25 | $963.9M | $358.6M | ||
| Q4 24 | $912.4M | $485.4M | ||
| Q3 24 | $902.6M | $360.9M | ||
| Q2 24 | $1.0B | $340.8M |
净利润AOSPIPR
| Q1 26 | $118.0M | — | ||
| Q4 25 | $125.4M | $114.0M | ||
| Q3 25 | $132.0M | $60.3M | ||
| Q2 25 | $152.2M | $42.2M | ||
| Q1 25 | $136.6M | $64.9M | ||
| Q4 24 | $109.7M | $69.1M | ||
| Q3 24 | $120.1M | $34.8M | ||
| Q2 24 | $156.2M | $34.8M |
毛利率AOSPIPR
| Q1 26 | 38.7% | — | ||
| Q4 25 | 38.4% | — | ||
| Q3 25 | 38.7% | — | ||
| Q2 25 | 39.3% | — | ||
| Q1 25 | 38.9% | — | ||
| Q4 24 | 37.1% | — | ||
| Q3 24 | 37.4% | — | ||
| Q2 24 | 38.7% | — |
营业利润率AOSPIPR
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | 28.3% | ||
| Q3 25 | 18.6% | 22.4% | ||
| Q2 25 | 20.4% | 12.3% | ||
| Q1 25 | 19.1% | 8.2% | ||
| Q4 24 | 10.1% | 16.9% | ||
| Q3 24 | 19.5% | 15.4% | ||
| Q2 24 | 21.9% | 8.3% |
净利率AOSPIPR
| Q1 26 | 12.5% | — | ||
| Q4 25 | 13.7% | 17.1% | ||
| Q3 25 | 14.0% | 12.6% | ||
| Q2 25 | 15.0% | 10.6% | ||
| Q1 25 | 14.2% | 18.1% | ||
| Q4 24 | 12.0% | 14.2% | ||
| Q3 24 | 13.3% | 9.6% | ||
| Q2 24 | 15.2% | 10.2% |
每股收益（稀释后）AOSPIPR
| Q1 26 | $0.85 | — | ||
| Q4 25 | $0.89 | $6.41 | ||
| Q3 25 | $0.94 | $3.38 | ||
| Q2 25 | $1.07 | $2.38 | ||
| Q1 25 | $0.95 | $3.65 | ||
| Q4 24 | $0.75 | $3.88 | ||
| Q3 24 | $0.82 | $1.96 | ||
| Q2 24 | $1.06 | $1.97 |
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 | — |
| 总债务越低越好 | $574.2M | — |
| 股东权益账面价值 | $1.9B | $1.4B |
| 总资产 | $3.7B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.31× | — |
8季度趋势，按日历期对齐
现金及短期投资AOSPIPR
| Q1 26 | $185.2M | — | ||
| Q4 25 | $193.2M | — | ||
| Q3 25 | $172.8M | — | ||
| Q2 25 | $177.9M | — | ||
| Q1 25 | $200.2M | — | ||
| Q4 24 | $276.1M | — | ||
| Q3 24 | $255.6M | — | ||
| Q2 24 | $233.3M | — |
总债务AOSPIPR
| Q1 26 | $574.2M | — | ||
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AOSPIPR
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | $1.8B | $1.3B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.9B | $1.2B | ||
| Q4 24 | $1.9B | $1.2B | ||
| Q3 24 | $1.9B | $1.2B | ||
| Q2 24 | $1.9B | $1.1B |
总资产AOSPIPR
| Q1 26 | $3.7B | — | ||
| Q4 25 | $3.1B | $2.6B | ||
| Q3 25 | $3.2B | $2.2B | ||
| Q2 25 | $3.2B | $2.0B | ||
| Q1 25 | $3.3B | $1.8B | ||
| Q4 24 | $3.2B | $2.3B | ||
| Q3 24 | $3.2B | $2.0B | ||
| Q2 24 | $3.2B | $1.9B |
负债/权益比AOSPIPR
| Q1 26 | 0.31× | — | ||
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $729.8M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 1.1% | — |
| 现金转化率经营现金流/净利润 | — | 6.40× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流AOSPIPR
| Q1 26 | — | — | ||
| Q4 25 | $183.1M | $729.8M | ||
| Q3 25 | $255.4M | $31.9M | ||
| Q2 25 | $139.6M | $32.1M | ||
| Q1 25 | $38.7M | $-207.2M | ||
| Q4 24 | $221.9M | $163.8M | ||
| Q3 24 | $195.9M | $80.1M | ||
| Q2 24 | $57.4M | $266.5M |
自由现金流AOSPIPR
| Q1 26 | — | — | ||
| Q4 25 | $165.5M | — | ||
| Q3 25 | $240.6M | — | ||
| Q2 25 | $122.5M | — | ||
| Q1 25 | $17.4M | — | ||
| Q4 24 | $191.3M | — | ||
| Q3 24 | $163.4M | — | ||
| Q2 24 | $34.5M | — |
自由现金流率AOSPIPR
| Q1 26 | — | — | ||
| Q4 25 | 18.1% | — | ||
| Q3 25 | 25.5% | — | ||
| Q2 25 | 12.1% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 21.0% | — | ||
| Q3 24 | 18.1% | — | ||
| Q2 24 | 3.4% | — |
资本支出强度AOSPIPR
| Q1 26 | 1.1% | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 2.2% | — |
现金转化率AOSPIPR
| Q1 26 | — | — | ||
| Q4 25 | 1.46× | 6.40× | ||
| Q3 25 | 1.93× | 0.53× | ||
| Q2 25 | 0.92× | 0.76× | ||
| Q1 25 | 0.28× | -3.19× | ||
| Q4 24 | 2.02× | 2.37× | ||
| Q3 24 | 1.63× | 2.30× | ||
| Q2 24 | 0.37× | 7.66× |
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
PIPR
| Advisory Services | $402.6M | 60% |
| Equities Financing | $66.7M | 10% |
| Equity Salesand Trading | $64.2M | 10% |
| Fixed Income Salesand Trading | $47.9M | 7% |
| Other | $46.7M | 7% |
| Debt Financing | $38.9M | 6% |
