vs
A.O.史密斯（AOS）与通用动力（PLOW）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通用动力的4.9倍（$912.5M vs $184.5M）。A.O.史密斯净利率更高（13.7% vs 7.0%，领先6.8%）。通用动力同比增速更快（28.6% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $92.8M）。过去两年通用动力的营收复合增速更高（38.9% 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。
通用动力公司是总部位于美国弗吉尼亚州雷斯顿的工业与科技企业，核心业务是研发制造各类先进军用装备，产品包括核潜艇、主战坦克、装甲战车等，同时也生产民用湾流公务机，并提供信息技术服务，是美国联邦政府前五大国防承包商之一。
AOS vs PLOW — 直观对比
营收规模更大
AOS
是对方的4.9倍
$184.5M
营收增速更快
PLOW
高出28.5%
0.0%
净利率更高
AOS
高出6.8%
7.0%
自由现金流更多
AOS
多$72.7M
$92.8M
两年增速更快
PLOW
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $184.5M |
| 净利润 | $125.4M | $12.8M |
| 毛利率 | 38.4% | 26.1% |
| 营业利润率 | 17.9% | 10.5% |
| 净利率 | 13.7% | 7.0% |
| 营收同比 | 0.0% | 28.6% |
| 净利润同比 | 14.3% | 62.3% |
| 每股收益（稀释后） | $0.89 | $0.54 |
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AOSPLOW
| Q4 25 | $912.5M | $184.5M | ||
| Q3 25 | $942.5M | $162.1M | ||
| Q2 25 | $1.0B | $194.3M | ||
| Q1 25 | $963.9M | $115.1M | ||
| Q4 24 | $912.4M | $143.5M | ||
| Q3 24 | $902.6M | $129.4M | ||
| Q2 24 | $1.0B | $199.9M | ||
| Q1 24 | $978.8M | $95.7M |
净利润AOSPLOW
| Q4 25 | $125.4M | $12.8M | ||
| Q3 25 | $132.0M | $8.0M | ||
| Q2 25 | $152.2M | $26.0M | ||
| Q1 25 | $136.6M | $148.0K | ||
| Q4 24 | $109.7M | $7.9M | ||
| Q3 24 | $120.1M | $32.3M | ||
| Q2 24 | $156.2M | $24.3M | ||
| Q1 24 | $147.6M | $-8.4M |
毛利率AOSPLOW
| Q4 25 | 38.4% | 26.1% | ||
| Q3 25 | 38.7% | 23.5% | ||
| Q2 25 | 39.3% | 31.0% | ||
| Q1 25 | 38.9% | 24.5% | ||
| Q4 24 | 37.1% | 24.9% | ||
| Q3 24 | 37.4% | 23.9% | ||
| Q2 24 | 38.7% | 30.7% | ||
| Q1 24 | 39.3% | 19.8% |
营业利润率AOSPLOW
| Q4 25 | 17.9% | 10.5% | ||
| Q3 25 | 18.6% | 8.7% | ||
| Q2 25 | 20.4% | 19.0% | ||
| Q1 25 | 19.1% | 2.8% | ||
| Q4 24 | 10.1% | 9.0% | ||
| Q3 24 | 19.5% | 35.4% | ||
| Q2 24 | 21.9% | 18.2% | ||
| Q1 24 | 22.0% | -6.7% |
净利率AOSPLOW
| Q4 25 | 13.7% | 7.0% | ||
| Q3 25 | 14.0% | 4.9% | ||
| Q2 25 | 15.0% | 13.4% | ||
| Q1 25 | 14.2% | 0.1% | ||
| Q4 24 | 12.0% | 5.5% | ||
| Q3 24 | 13.3% | 24.9% | ||
| Q2 24 | 15.2% | 12.2% | ||
| Q1 24 | 15.1% | -8.7% |
每股收益（稀释后）AOSPLOW
| Q4 25 | $0.89 | $0.54 | ||
| Q3 25 | $0.94 | $0.33 | ||
| Q2 25 | $1.07 | $1.09 | ||
| Q1 25 | $0.95 | $0.00 | ||
| Q4 24 | $0.75 | $0.35 | ||
| Q3 24 | $0.82 | $1.36 | ||
| Q2 24 | $1.06 | $1.02 | ||
| Q1 24 | $1.00 | $-0.37 |
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 | — |
| 总债务越低越好 | $155.0M | $144.0M |
| 股东权益账面价值 | $1.9B | $281.4M |
| 总资产 | $3.1B | $626.7M |
| 负债/权益比越低杠杆越低 | 0.08× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资AOSPLOW
| 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 | — | ||
| Q1 24 | $303.1M | — |
总债务AOSPLOW
| Q4 25 | $155.0M | $144.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | $147.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSPLOW
| Q4 25 | $1.9B | $281.4M | ||
| Q3 25 | $1.8B | $275.3M | ||
| Q2 25 | $1.8B | $273.3M | ||
| Q1 25 | $1.9B | $258.9M | ||
| Q4 24 | $1.9B | $264.2M | ||
| Q3 24 | $1.9B | $260.8M | ||
| Q2 24 | $1.9B | $236.7M | ||
| Q1 24 | $1.9B | $217.2M |
总资产AOSPLOW
| Q4 25 | $3.1B | $626.7M | ||
| Q3 25 | $3.2B | $694.9M | ||
| Q2 25 | $3.2B | $671.5M | ||
| Q1 25 | $3.3B | $621.0M | ||
| Q4 24 | $3.2B | $590.0M | ||
| Q3 24 | $3.2B | $665.6M | ||
| Q2 24 | $3.2B | $617.0M | ||
| Q1 24 | $3.2B | $577.1M |
负债/权益比AOSPLOW
| Q4 25 | 0.08× | 0.51× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | 0.56× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $183.1M | $95.9M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $92.8M |
| 自由现金流率自由现金流/营收 | 18.1% | 50.3% |
| 资本支出强度资本支出/营收 | 1.9% | 1.7% |
| 现金转化率经营现金流/净利润 | 1.46× | 7.47× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $63.6M |
8季度趋势，按日历期对齐
经营现金流AOSPLOW
| Q4 25 | $183.1M | $95.9M | ||
| Q3 25 | $255.4M | $-8.5M | ||
| Q2 25 | $139.6M | $-11.4M | ||
| Q1 25 | $38.7M | $-1.3M | ||
| Q4 24 | $221.9M | $74.4M | ||
| Q3 24 | $195.9M | $-14.2M | ||
| Q2 24 | $57.4M | $2.5M | ||
| Q1 24 | $106.6M | $-21.6M |
自由现金流AOSPLOW
| Q4 25 | $165.5M | $92.8M | ||
| Q3 25 | $240.6M | $-11.4M | ||
| Q2 25 | $122.5M | $-14.3M | ||
| Q1 25 | $17.4M | $-3.5M | ||
| Q4 24 | $191.3M | $70.2M | ||
| Q3 24 | $163.4M | $-15.2M | ||
| Q2 24 | $34.5M | $836.0K | ||
| Q1 24 | $84.6M | $-22.4M |
自由现金流率AOSPLOW
| Q4 25 | 18.1% | 50.3% | ||
| Q3 25 | 25.5% | -7.1% | ||
| Q2 25 | 12.1% | -7.4% | ||
| Q1 25 | 1.8% | -3.0% | ||
| Q4 24 | 21.0% | 48.9% | ||
| Q3 24 | 18.1% | -11.8% | ||
| Q2 24 | 3.4% | 0.4% | ||
| Q1 24 | 8.6% | -23.4% |
资本支出强度AOSPLOW
| Q4 25 | 1.9% | 1.7% | ||
| Q3 25 | 1.6% | 1.8% | ||
| Q2 25 | 1.7% | 1.5% | ||
| Q1 25 | 2.2% | 1.9% | ||
| Q4 24 | 3.4% | 2.9% | ||
| Q3 24 | 3.6% | 0.8% | ||
| Q2 24 | 2.2% | 0.8% | ||
| Q1 24 | 2.2% | 0.8% |
现金转化率AOSPLOW
| Q4 25 | 1.46× | 7.47× | ||
| Q3 25 | 1.93× | -1.07× | ||
| Q2 25 | 0.92× | -0.44× | ||
| Q1 25 | 0.28× | -9.03× | ||
| Q4 24 | 2.02× | 9.41× | ||
| Q3 24 | 1.63× | -0.44× | ||
| Q2 24 | 0.37× | 0.10× | ||
| Q1 24 | 0.72× | — |
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% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
