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A.O.史密斯（AOS）与昆腾（QMCO）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昆腾的12.2倍（$912.5M vs $74.6M）。A.O.史密斯净利率更高（13.7% vs -37.3%，领先51.1%）。昆腾同比增速更快（2.8% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $-5.6M）。过去两年昆腾的营收复合增速更高（2.1% 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。
昆腾公司是一家专注数据存储、管理与保护的科技企业，为全生命周期的视频及非结构化数据提供存储、管理、归档与保护技术服务，客户覆盖各行各业的企业、媒体娱乐公司、政府机构、数据企业以及生命科学机构。公司总部位于加利福尼亚州圣何塞，在全球多地设有分支机构。
AOS vs QMCO — 直观对比
营收规模更大
AOS
是对方的12.2倍
$74.6M
营收增速更快
QMCO
高出2.8%
0.0%
净利率更高
AOS
高出51.1%
-37.3%
自由现金流更多
AOS
多$171.1M
$-5.6M
两年增速更快
QMCO
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $74.6M |
| 净利润 | $125.4M | $-27.8M |
| 毛利率 | 38.4% | 38.8% |
| 营业利润率 | 17.9% | -1.6% |
| 净利率 | 13.7% | -37.3% |
| 营收同比 | 0.0% | 2.8% |
| 净利润同比 | 14.3% | 61.0% |
| 每股收益（稀释后） | $0.89 | $-2.03 |
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AOSQMCO
| Q4 25 | $912.5M | $74.6M | ||
| Q3 25 | $942.5M | $62.7M | ||
| Q2 25 | $1.0B | $64.3M | ||
| Q1 25 | $963.9M | $61.3M | ||
| Q4 24 | $912.4M | $68.7M | ||
| Q3 24 | $902.6M | $71.8M | ||
| Q2 24 | $1.0B | $72.3M | ||
| Q1 24 | $978.8M | $71.5M |
净利润AOSQMCO
| Q4 25 | $125.4M | $-27.8M | ||
| Q3 25 | $132.0M | $-46.5M | ||
| Q2 25 | $152.2M | $-17.2M | ||
| Q1 25 | $136.6M | $-7.7M | ||
| Q4 24 | $109.7M | $-75.3M | ||
| Q3 24 | $120.1M | $-12.2M | ||
| Q2 24 | $156.2M | $-19.9M | ||
| Q1 24 | $147.6M | $-18.9M |
毛利率AOSQMCO
| Q4 25 | 38.4% | 38.8% | ||
| Q3 25 | 38.7% | 37.6% | ||
| Q2 25 | 39.3% | 35.3% | ||
| Q1 25 | 38.9% | 39.6% | ||
| Q4 24 | 37.1% | 40.6% | ||
| Q3 24 | 37.4% | 42.7% | ||
| Q2 24 | 38.7% | 37.4% | ||
| Q1 24 | 39.3% | 38.2% |
营业利润率AOSQMCO
| Q4 25 | 17.9% | -1.6% | ||
| Q3 25 | 18.6% | -13.0% | ||
| Q2 25 | 20.4% | -19.6% | ||
| Q1 25 | 19.1% | -18.9% | ||
| Q4 24 | 10.1% | -11.3% | ||
| Q3 24 | 19.5% | -7.7% | ||
| Q2 24 | 21.9% | -23.3% | ||
| Q1 24 | 22.0% | -19.3% |
净利率AOSQMCO
| Q4 25 | 13.7% | -37.3% | ||
| Q3 25 | 14.0% | -74.1% | ||
| Q2 25 | 15.0% | -26.8% | ||
| Q1 25 | 14.2% | -12.6% | ||
| Q4 24 | 12.0% | -109.6% | ||
| Q3 24 | 13.3% | -16.9% | ||
| Q2 24 | 15.2% | -27.5% | ||
| Q1 24 | 15.1% | -26.5% |
每股收益（稀释后）AOSQMCO
| Q4 25 | $0.89 | $-2.03 | ||
| Q3 25 | $0.94 | $-3.49 | ||
| Q2 25 | $1.07 | $-1.87 | ||
| Q1 25 | $0.95 | $-0.31 | ||
| Q4 24 | $0.75 | $-15.35 | ||
| Q3 24 | $0.82 | $-2.54 | ||
| Q2 24 | $1.06 | $-4.15 | ||
| Q1 24 | $1.00 | $-5.80 |
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 | $13.2M |
| 总债务越低越好 | $155.0M | $75.9M |
| 股东权益账面价值 | $1.9B | $-184.2M |
| 总资产 | $3.1B | $149.3M |
| 负债/权益比越低杠杆越低 | 0.08× | — |
8季度趋势，按日历期对齐
现金及短期投资AOSQMCO
| Q4 25 | $193.2M | $13.2M | ||
| Q3 25 | $172.8M | $14.7M | ||
| Q2 25 | $177.9M | $37.4M | ||
| Q1 25 | $200.2M | $16.5M | ||
| Q4 24 | $276.1M | $20.4M | ||
| Q3 24 | $255.6M | $16.7M | ||
| Q2 24 | $233.3M | $17.3M | ||
| Q1 24 | $303.1M | $25.7M |
总债务AOSQMCO
| Q4 25 | $155.0M | $75.9M | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | $193.2M | $0 | ||
| Q3 24 | — | $123.0M | ||
| Q2 24 | — | $100.9M | ||
| Q1 24 | — | $0 |
股东权益AOSQMCO
| Q4 25 | $1.9B | $-184.2M | ||
| Q3 25 | $1.8B | $-160.5M | ||
| Q2 25 | $1.8B | $-114.4M | ||
| Q1 25 | $1.9B | $-164.4M | ||
| Q4 24 | $1.9B | $-196.6M | ||
| Q3 24 | $1.9B | $-151.1M | ||
| Q2 24 | $1.9B | $-140.3M | ||
| Q1 24 | $1.9B | $-121.5M |
总资产AOSQMCO
| Q4 25 | $3.1B | $149.3M | ||
| Q3 25 | $3.2B | $137.7M | ||
| Q2 25 | $3.2B | $169.2M | ||
| Q1 25 | $3.3B | $155.4M | ||
| Q4 24 | $3.2B | $168.1M | ||
| Q3 24 | $3.2B | $163.1M | ||
| Q2 24 | $3.2B | $173.1M | ||
| Q1 24 | $3.2B | $187.6M |
负债/权益比AOSQMCO
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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 | $-4.9M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $-5.6M |
| 自由现金流率自由现金流/营收 | 18.1% | -7.5% |
| 资本支出强度资本支出/营收 | 1.9% | 0.9% |
| 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 | $-43.6M |
8季度趋势，按日历期对齐
经营现金流AOSQMCO
| Q4 25 | $183.1M | $-4.9M | ||
| Q3 25 | $255.4M | $-15.6M | ||
| Q2 25 | $139.6M | $-16.9M | ||
| Q1 25 | $38.7M | $-3.3M | ||
| Q4 24 | $221.9M | $-3.2M | ||
| Q3 24 | $195.9M | $-15.3M | ||
| Q2 24 | $57.4M | $-1.9M | ||
| Q1 24 | $106.6M | $10.6M |
自由现金流AOSQMCO
| Q4 25 | $165.5M | $-5.6M | ||
| Q3 25 | $240.6M | $-16.0M | ||
| Q2 25 | $122.5M | $-18.1M | ||
| Q1 25 | $17.4M | $-3.9M | ||
| Q4 24 | $191.3M | $-4.2M | ||
| Q3 24 | $163.4M | $-16.9M | ||
| Q2 24 | $34.5M | $-3.5M | ||
| Q1 24 | $84.6M | $9.7M |
自由现金流率AOSQMCO
| Q4 25 | 18.1% | -7.5% | ||
| Q3 25 | 25.5% | -25.5% | ||
| Q2 25 | 12.1% | -28.1% | ||
| Q1 25 | 1.8% | -6.4% | ||
| Q4 24 | 21.0% | -6.2% | ||
| Q3 24 | 18.1% | -23.5% | ||
| Q2 24 | 3.4% | -4.9% | ||
| Q1 24 | 8.6% | 13.6% |
资本支出强度AOSQMCO
| Q4 25 | 1.9% | 0.9% | ||
| Q3 25 | 1.6% | 0.7% | ||
| Q2 25 | 1.7% | 1.9% | ||
| Q1 25 | 2.2% | 1.0% | ||
| Q4 24 | 3.4% | 1.6% | ||
| Q3 24 | 3.6% | 2.2% | ||
| Q2 24 | 2.2% | 2.2% | ||
| Q1 24 | 2.2% | 1.2% |
现金转化率AOSQMCO
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | — | ||
| 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% |
QMCO
| Secondary Storage Systems | $30.6M | 41% |
| Service And Subscriptions | $26.5M | 36% |
| Primary Storage Systems | $10.1M | 14% |
| Subscriptions | $4.4M | 6% |
| Royalty | $1.6M | 2% |
