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A.O.史密斯（AOS）与Perma-Pipe International Holdings, Inc.（PPIH）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Perma-Pipe International Holdings, Inc.的14.9倍（$912.5M vs $61.1M）。A.O.史密斯净利率更高（13.7% vs 10.3%，领先3.4%）。Perma-Pipe International Holdings, Inc.同比增速更快（47.1% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $12.4M）。过去两年Perma-Pipe International Holdings, Inc.的营收复合增速更高（23.4% 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。
Perma-Pipe International Holdings是一家专业研发、生产、销售预绝缘管道系统及一体化泄漏检测解决方案的企业，产品覆盖油气、区域冷暖、工业、市政基建等领域，业务遍布北美、中东、欧洲、亚洲等全球市场。
AOS vs PPIH — 直观对比
营收规模更大
AOS
是对方的14.9倍
$61.1M
营收增速更快
PPIH
高出47.1%
0.0%
净利率更高
AOS
高出3.4%
10.3%
自由现金流更多
AOS
多$153.1M
$12.4M
两年增速更快
PPIH
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $61.1M |
| 净利润 | $125.4M | $6.3M |
| 毛利率 | 38.4% | 34.4% |
| 营业利润率 | 17.9% | 18.6% |
| 净利率 | 13.7% | 10.3% |
| 营收同比 | 0.0% | 47.1% |
| 净利润同比 | 14.3% | 153.5% |
| 每股收益（稀释后） | $0.89 | $0.77 |
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AOSPPIH
| Q4 25 | $912.5M | $61.1M | ||
| Q3 25 | $942.5M | $47.9M | ||
| Q2 25 | $1.0B | $46.7M | ||
| Q1 25 | $963.9M | $45.0M | ||
| Q4 24 | $912.4M | $41.6M | ||
| Q3 24 | $902.6M | $37.5M | ||
| Q2 24 | $1.0B | $34.3M | ||
| Q1 24 | $978.8M | $40.2M |
净利润AOSPPIH
| Q4 25 | $125.4M | $6.3M | ||
| Q3 25 | $132.0M | $851.0K | ||
| Q2 25 | $152.2M | $5.0M | ||
| Q1 25 | $136.6M | $1.8M | ||
| Q4 24 | $109.7M | $2.5M | ||
| Q3 24 | $120.1M | $3.3M | ||
| Q2 24 | $156.2M | $1.4M | ||
| Q1 24 | $147.6M | $8.6M |
毛利率AOSPPIH
| Q4 25 | 38.4% | 34.4% | ||
| Q3 25 | 38.7% | 30.1% | ||
| Q2 25 | 39.3% | 35.8% | ||
| Q1 25 | 38.9% | 33.7% | ||
| Q4 24 | 37.1% | 33.9% | ||
| Q3 24 | 37.4% | 35.9% | ||
| Q2 24 | 38.7% | 30.6% | ||
| Q1 24 | 39.3% | 30.0% |
营业利润率AOSPPIH
| Q4 25 | 17.9% | 18.6% | ||
| Q3 25 | 18.6% | 6.7% | ||
| Q2 25 | 20.4% | 16.9% | ||
| Q1 25 | 19.1% | 12.1% | ||
| Q4 24 | 10.1% | 13.4% | ||
| Q3 24 | 19.5% | 16.4% | ||
| Q2 24 | 21.9% | 9.1% | ||
| Q1 24 | 22.0% | 11.3% |
净利率AOSPPIH
| Q4 25 | 13.7% | 10.3% | ||
| Q3 25 | 14.0% | 1.8% | ||
| Q2 25 | 15.0% | 10.6% | ||
| Q1 25 | 14.2% | 3.9% | ||
| Q4 24 | 12.0% | 6.0% | ||
| Q3 24 | 13.3% | 8.8% | ||
| Q2 24 | 15.2% | 4.2% | ||
| Q1 24 | 15.1% | 21.5% |
每股收益（稀释后）AOSPPIH
| Q4 25 | $0.89 | $0.77 | ||
| Q3 25 | $0.94 | $0.10 | ||
| Q2 25 | $1.07 | $0.61 | ||
| Q1 25 | $0.95 | $0.23 | ||
| Q4 24 | $0.75 | $0.31 | ||
| Q3 24 | $0.82 | $0.40 | ||
| Q2 24 | $1.06 | $0.18 | ||
| Q1 24 | $1.00 | $1.07 |
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 | $27.2M |
| 总债务越低越好 | $155.0M | $12.7M |
| 股东权益账面价值 | $1.9B | $85.8M |
| 总资产 | $3.1B | $217.0M |
| 负债/权益比越低杠杆越低 | 0.08× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资AOSPPIH
| Q4 25 | $193.2M | $27.2M | ||
| Q3 25 | $172.8M | $17.3M | ||
| Q2 25 | $177.9M | $18.8M | ||
| Q1 25 | $200.2M | $15.7M | ||
| Q4 24 | $276.1M | $13.3M | ||
| Q3 24 | $255.6M | $9.5M | ||
| Q2 24 | $233.3M | $7.7M | ||
| Q1 24 | $303.1M | $5.8M |
总债务AOSPPIH
| Q4 25 | $155.0M | $12.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $15.2M | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $15.2M |
股东权益AOSPPIH
| Q4 25 | $1.9B | $85.8M | ||
| Q3 25 | $1.8B | $80.2M | ||
| Q2 25 | $1.8B | $77.9M | ||
| Q1 25 | $1.9B | $72.1M | ||
| Q4 24 | $1.9B | $71.2M | ||
| Q3 24 | $1.9B | $68.6M | ||
| Q2 24 | $1.9B | $65.5M | ||
| Q1 24 | $1.9B | $65.7M |
总资产AOSPPIH
| Q4 25 | $3.1B | $217.0M | ||
| Q3 25 | $3.2B | $189.0M | ||
| Q2 25 | $3.2B | $178.3M | ||
| Q1 25 | $3.3B | $165.2M | ||
| Q4 24 | $3.2B | $160.7M | ||
| Q3 24 | $3.2B | $157.8M | ||
| Q2 24 | $3.2B | $155.7M | ||
| Q1 24 | $3.2B | $155.7M |
负债/权益比AOSPPIH
| Q4 25 | 0.08× | 0.15× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.21× | ||
| Q4 24 | 0.10× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.23× |
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 | $17.3M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $12.4M |
| 自由现金流率自由现金流/营收 | 18.1% | 20.2% |
| 资本支出强度资本支出/营收 | 1.9% | 8.1% |
| 现金转化率经营现金流/净利润 | 1.46× | 2.74× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $12.3M |
8季度趋势，按日历期对齐
经营现金流AOSPPIH
| Q4 25 | $183.1M | $17.3M | ||
| Q3 25 | $255.4M | $-2.0M | ||
| Q2 25 | $139.6M | $733.0K | ||
| Q1 25 | $38.7M | $6.0M | ||
| Q4 24 | $221.9M | $5.2M | ||
| Q3 24 | $195.9M | $2.8M | ||
| Q2 24 | $57.4M | $-73.0K | ||
| Q1 24 | $106.6M | $7.1M |
自由现金流AOSPPIH
| Q4 25 | $165.5M | $12.4M | ||
| Q3 25 | $240.6M | $-4.6M | ||
| Q2 25 | $122.5M | $-194.0K | ||
| Q1 25 | $17.4M | $4.7M | ||
| Q4 24 | $191.3M | $4.8M | ||
| Q3 24 | $163.4M | $2.2M | ||
| Q2 24 | $34.5M | $-662.0K | ||
| Q1 24 | $84.6M | $4.2M |
自由现金流率AOSPPIH
| Q4 25 | 18.1% | 20.2% | ||
| Q3 25 | 25.5% | -9.6% | ||
| Q2 25 | 12.1% | -0.4% | ||
| Q1 25 | 1.8% | 10.5% | ||
| Q4 24 | 21.0% | 11.6% | ||
| Q3 24 | 18.1% | 5.8% | ||
| Q2 24 | 3.4% | -1.9% | ||
| Q1 24 | 8.6% | 10.5% |
资本支出强度AOSPPIH
| Q4 25 | 1.9% | 8.1% | ||
| Q3 25 | 1.6% | 5.3% | ||
| Q2 25 | 1.7% | 2.0% | ||
| Q1 25 | 2.2% | 2.9% | ||
| Q4 24 | 3.4% | 0.8% | ||
| Q3 24 | 3.6% | 1.7% | ||
| Q2 24 | 2.2% | 1.7% | ||
| Q1 24 | 2.2% | 7.2% |
现金转化率AOSPPIH
| Q4 25 | 1.46× | 2.74× | ||
| Q3 25 | 1.93× | -2.40× | ||
| Q2 25 | 0.92× | 0.15× | ||
| Q1 25 | 0.28× | 3.42× | ||
| Q4 24 | 2.02× | 2.07× | ||
| Q3 24 | 1.63× | 0.86× | ||
| Q2 24 | 0.37× | -0.05× | ||
| Q1 24 | 0.72× | 0.82× |
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% |
PPIH
暂无分部数据
