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A.O.史密斯（AOS）与Primo Brands Corp（PRMB）财务数据对比。点击上方公司名可切换其他公司
Primo Brands Corp的季度营收约是A.O.史密斯的1.7倍（$1.6B vs $912.5M），A.O.史密斯净利率更高（13.7% vs -0.8%，领先14.6%），A.O.史密斯自由现金流更多（$165.5M vs $57.3M）
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。
Primo Brands Corp是一家美加合资饮用水企业，主营多规格桶装水、饮水机、自助补水设备及净水家电，总部位于美国佛罗里达州坦帕市，服务覆盖美国、加拿大、欧洲及以色列的住宅与商业客户。
AOS vs PRMB — 直观对比
营收规模更大
PRMB
是对方的1.7倍
$912.5M
净利率更高
AOS
高出14.6%
-0.8%
自由现金流更多
AOS
多$108.2M
$57.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $1.6B |
| 净利润 | $125.4M | $-13.0M |
| 毛利率 | 38.4% | 27.7% |
| 营业利润率 | 17.9% | 1.2% |
| 净利率 | 13.7% | -0.8% |
| 营收同比 | 0.0% | — |
| 净利润同比 | 14.3% | — |
| 每股收益（稀释后） | $0.89 | $-0.03 |
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AOSPRMB
| Q4 25 | $912.5M | $1.6B | ||
| Q3 25 | $942.5M | $1.8B | ||
| Q2 25 | $1.0B | $1.7B | ||
| Q1 25 | $963.9M | $1.6B | ||
| Q4 24 | $912.4M | — | ||
| Q3 24 | $902.6M | $0 | ||
| Q2 24 | $1.0B | $1.3B | ||
| Q1 24 | $978.8M | $1.1B |
净利润AOSPRMB
| Q4 25 | $125.4M | $-13.0M | ||
| Q3 25 | $132.0M | $16.8M | ||
| Q2 25 | $152.2M | $27.6M | ||
| Q1 25 | $136.6M | $28.7M | ||
| Q4 24 | $109.7M | — | ||
| Q3 24 | $120.1M | $-2.0K | ||
| Q2 24 | $156.2M | $54.5M | ||
| Q1 24 | $147.6M | $33.5M |
毛利率AOSPRMB
| Q4 25 | 38.4% | 27.7% | ||
| Q3 25 | 38.7% | 29.9% | ||
| Q2 25 | 39.3% | 31.3% | ||
| Q1 25 | 38.9% | 32.3% | ||
| Q4 24 | 37.1% | — | ||
| Q3 24 | 37.4% | — | ||
| Q2 24 | 38.7% | 32.7% | ||
| Q1 24 | 39.3% | 30.4% |
营业利润率AOSPRMB
| Q4 25 | 17.9% | 1.2% | ||
| Q3 25 | 18.6% | 8.3% | ||
| Q2 25 | 20.4% | 6.5% | ||
| Q1 25 | 19.1% | 9.5% | ||
| Q4 24 | 10.1% | — | ||
| Q3 24 | 19.5% | — | ||
| Q2 24 | 21.9% | 12.1% | ||
| Q1 24 | 22.0% | 11.0% |
净利率AOSPRMB
| Q4 25 | 13.7% | -0.8% | ||
| Q3 25 | 14.0% | 1.0% | ||
| Q2 25 | 15.0% | 1.6% | ||
| Q1 25 | 14.2% | 1.8% | ||
| Q4 24 | 12.0% | — | ||
| Q3 24 | 13.3% | — | ||
| Q2 24 | 15.2% | 4.1% | ||
| Q1 24 | 15.1% | 2.9% |
每股收益（稀释后）AOSPRMB
| Q4 25 | $0.89 | $-0.03 | ||
| Q3 25 | $0.94 | $0.04 | ||
| Q2 25 | $1.07 | $0.07 | ||
| Q1 25 | $0.95 | $0.08 | ||
| Q4 24 | $0.75 | — | ||
| Q3 24 | $0.82 | $-20.00 | ||
| Q2 24 | $1.06 | $0.25 | ||
| Q1 24 | $1.00 | $0.15 |
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 | $376.7M |
| 总债务越低越好 | $155.0M | $5.2B |
| 股东权益账面价值 | $1.9B | $3.0B |
| 总资产 | $3.1B | $10.6B |
| 负债/权益比越低杠杆越低 | 0.08× | 1.72× |
8季度趋势，按日历期对齐
现金及短期投资AOSPRMB
| Q4 25 | $193.2M | $376.7M | ||
| 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AOSPRMB
| Q4 25 | $155.0M | $5.2B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSPRMB
| Q4 25 | $1.9B | $3.0B | ||
| Q3 25 | $1.8B | $3.2B | ||
| Q2 25 | $1.8B | $3.2B | ||
| Q1 25 | $1.9B | $3.3B | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.9B | $-2.0K | ||
| Q2 24 | $1.9B | $-296.8M | ||
| Q1 24 | $1.9B | $-349.8M |
总资产AOSPRMB
| Q4 25 | $3.1B | $10.6B | ||
| Q3 25 | $3.2B | $11.0B | ||
| Q2 25 | $3.2B | $11.0B | ||
| Q1 25 | $3.3B | $11.0B | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.2B | $0 | ||
| Q2 24 | $3.2B | — | ||
| Q1 24 | $3.2B | — |
负债/权益比AOSPRMB
| Q4 25 | 0.08× | 1.72× | ||
| Q3 25 | — | 1.61× | ||
| Q2 25 | — | 1.57× | ||
| Q1 25 | — | 1.51× | ||
| Q4 24 | 0.10× | — | ||
| 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 | $203.1M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $57.3M |
| 自由现金流率自由现金流/营收 | 18.1% | 3.7% |
| 资本支出强度资本支出/营收 | 1.9% | 9.4% |
| 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 | $302.9M |
8季度趋势，按日历期对齐
经营现金流AOSPRMB
| Q4 25 | $183.1M | $203.1M | ||
| Q3 25 | $255.4M | $283.4M | ||
| Q2 25 | $139.6M | $155.0M | ||
| Q1 25 | $38.7M | $38.8M | ||
| Q4 24 | $221.9M | — | ||
| Q3 24 | $195.9M | $0 | ||
| Q2 24 | $57.4M | $102.5M | ||
| Q1 24 | $106.6M | $6.0M |
自由现金流AOSPRMB
| Q4 25 | $165.5M | $57.3M | ||
| Q3 25 | $240.6M | $167.7M | ||
| Q2 25 | $122.5M | $101.1M | ||
| Q1 25 | $17.4M | $-23.2M | ||
| Q4 24 | $191.3M | — | ||
| Q3 24 | $163.4M | — | ||
| Q2 24 | $34.5M | $61.4M | ||
| Q1 24 | $84.6M | $-17.5M |
自由现金流率AOSPRMB
| Q4 25 | 18.1% | 3.7% | ||
| Q3 25 | 25.5% | 9.5% | ||
| Q2 25 | 12.1% | 5.8% | ||
| Q1 25 | 1.8% | -1.4% | ||
| Q4 24 | 21.0% | — | ||
| Q3 24 | 18.1% | — | ||
| Q2 24 | 3.4% | 4.7% | ||
| Q1 24 | 8.6% | -1.5% |
资本支出强度AOSPRMB
| Q4 25 | 1.9% | 9.4% | ||
| Q3 25 | 1.6% | 6.6% | ||
| Q2 25 | 1.7% | 3.1% | ||
| Q1 25 | 2.2% | 3.8% | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 2.2% | 3.1% | ||
| Q1 24 | 2.2% | 2.1% |
现金转化率AOSPRMB
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | 16.87× | ||
| Q2 25 | 0.92× | 5.62× | ||
| Q1 25 | 0.28× | 1.35× | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | 1.88× | ||
| Q1 24 | 0.72× | 0.18× |
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% |
PRMB
| Regional Spring Water | $765.1M | 49% |
| Purified Water | $484.5M | 31% |
| Other | $188.4M | 12% |
| Premium Water | $90.3M | 6% |
| Other Water | $25.8M | 2% |
