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A.O.史密斯（AOS）与RBC Bearings INC（RBC）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RBC Bearings INC的2.0倍（$912.5M vs $461.6M）。RBC Bearings INC净利率更高（14.6% vs 13.7%，领先0.9%）。RBC Bearings INC同比增速更快（17.0% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $99.1M）。过去两年RBC Bearings INC的营收复合增速更高（5.6% 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。
该文本实际介绍的并非RBC Bearings，而是美国多佛公司。多佛是一家工业产品综合制造商，1955年成立，总部位于伊利诺伊州当纳斯格罗夫。2021年其业务分为五大板块：工程产品、清洁能源与加注、成像与识别、泵与工艺解决方案、气候与可持续技术，是标普500成分股，在纽约证券交易所上市。
AOS vs RBC — 直观对比
营收规模更大
AOS
是对方的2.0倍
$461.6M
营收增速更快
RBC
高出17.0%
0.0%
净利率更高
RBC
高出0.9%
13.7%
自由现金流更多
AOS
多$66.4M
$99.1M
两年增速更快
RBC
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $461.6M |
| 净利润 | $125.4M | $67.4M |
| 毛利率 | 38.4% | 44.3% |
| 营业利润率 | 17.9% | 22.3% |
| 净利率 | 13.7% | 14.6% |
| 营收同比 | 0.0% | 17.0% |
| 净利润同比 | 14.3% | 16.4% |
| 每股收益（稀释后） | $0.89 | $2.13 |
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AOSRBC
| Q4 25 | $912.5M | $461.6M | ||
| Q3 25 | $942.5M | $455.3M | ||
| Q2 25 | $1.0B | $436.0M | ||
| Q1 25 | $963.9M | $437.7M | ||
| Q4 24 | $912.4M | $394.4M | ||
| Q3 24 | $902.6M | $397.9M | ||
| Q2 24 | $1.0B | $406.3M | ||
| Q1 24 | $978.8M | $413.7M |
净利润AOSRBC
| Q4 25 | $125.4M | $67.4M | ||
| Q3 25 | $132.0M | $60.0M | ||
| Q2 25 | $152.2M | $68.5M | ||
| Q1 25 | $136.6M | $72.7M | ||
| Q4 24 | $109.7M | $57.9M | ||
| Q3 24 | $120.1M | $54.2M | ||
| Q2 24 | $156.2M | $61.4M | ||
| Q1 24 | $147.6M | — |
毛利率AOSRBC
| Q4 25 | 38.4% | 44.3% | ||
| Q3 25 | 38.7% | 44.1% | ||
| Q2 25 | 39.3% | 44.8% | ||
| Q1 25 | 38.9% | 44.2% | ||
| Q4 24 | 37.1% | 44.3% | ||
| Q3 24 | 37.4% | 43.7% | ||
| Q2 24 | 38.7% | 45.3% | ||
| Q1 24 | 39.3% | 43.1% |
营业利润率AOSRBC
| Q4 25 | 17.9% | 22.3% | ||
| Q3 25 | 18.6% | 21.5% | ||
| Q2 25 | 20.4% | 23.2% | ||
| Q1 25 | 19.1% | 23.0% | ||
| Q4 24 | 10.1% | 21.7% | ||
| Q3 24 | 19.5% | 21.6% | ||
| Q2 24 | 21.9% | 24.0% | ||
| Q1 24 | 22.0% | 22.8% |
净利率AOSRBC
| Q4 25 | 13.7% | 14.6% | ||
| Q3 25 | 14.0% | 13.2% | ||
| Q2 25 | 15.0% | 15.7% | ||
| Q1 25 | 14.2% | 16.6% | ||
| Q4 24 | 12.0% | 14.7% | ||
| Q3 24 | 13.3% | 13.6% | ||
| Q2 24 | 15.2% | 15.1% | ||
| Q1 24 | 15.1% | — |
每股收益（稀释后）AOSRBC
| Q4 25 | $0.89 | $2.13 | ||
| Q3 25 | $0.94 | $1.90 | ||
| Q2 25 | $1.07 | $2.17 | ||
| Q1 25 | $0.95 | $2.33 | ||
| Q4 24 | $0.75 | $1.82 | ||
| Q3 24 | $0.82 | $1.65 | ||
| Q2 24 | $1.06 | $1.90 | ||
| Q1 24 | $1.00 | $1.92 |
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 | $107.6M |
| 总债务越低越好 | $155.0M | $990.2M |
| 股东权益账面价值 | $1.9B | $3.3B |
| 总资产 | $3.1B | $5.1B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资AOSRBC
| Q4 25 | $193.2M | $107.6M | ||
| Q3 25 | $172.8M | $91.2M | ||
| Q2 25 | $177.9M | $132.9M | ||
| Q1 25 | $200.2M | $36.8M | ||
| Q4 24 | $276.1M | — | ||
| Q3 24 | $255.6M | — | ||
| Q2 24 | $233.3M | $76.8M | ||
| Q1 24 | $303.1M | $63.5M |
总债务AOSRBC
| Q4 25 | $155.0M | $990.2M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $915.6M | ||
| Q1 25 | — | $920.1M | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.2B |
股东权益AOSRBC
| Q4 25 | $1.9B | $3.3B | ||
| Q3 25 | $1.8B | $3.2B | ||
| Q2 25 | $1.8B | $3.1B | ||
| Q1 25 | $1.9B | $3.0B | ||
| Q4 24 | $1.9B | $2.9B | ||
| Q3 24 | $1.9B | $2.9B | ||
| Q2 24 | $1.9B | $2.8B | ||
| Q1 24 | $1.9B | $2.8B |
总资产AOSRBC
| Q4 25 | $3.1B | $5.1B | ||
| Q3 25 | $3.2B | $5.1B | ||
| Q2 25 | $3.2B | $4.8B | ||
| Q1 25 | $3.3B | $4.7B | ||
| Q4 24 | $3.2B | $4.7B | ||
| Q3 24 | $3.2B | $4.7B | ||
| Q2 24 | $3.2B | $4.7B | ||
| Q1 24 | $3.2B | $4.7B |
负债/权益比AOSRBC
| Q4 25 | 0.08× | 0.30× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | 0.10× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.43× |
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 | $122.1M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $99.1M |
| 自由现金流率自由现金流/营收 | 18.1% | 21.5% |
| 资本支出强度资本支出/营收 | 1.9% | 5.0% |
| 现金转化率经营现金流/净利润 | 1.46× | 1.81× |
| 过去12个月自由现金流最近4个季度 | $546.0M | — |
8季度趋势，按日历期对齐
经营现金流AOSRBC
| Q4 25 | $183.1M | $122.1M | ||
| Q3 25 | $255.4M | $88.4M | ||
| Q2 25 | $139.6M | $120.0M | ||
| Q1 25 | $38.7M | — | ||
| Q4 24 | $221.9M | $84.0M | ||
| Q3 24 | $195.9M | — | ||
| Q2 24 | $57.4M | $97.4M | ||
| Q1 24 | $106.6M | — |
自由现金流AOSRBC
| Q4 25 | $165.5M | $99.1M | ||
| Q3 25 | $240.6M | $71.7M | ||
| Q2 25 | $122.5M | $104.3M | ||
| Q1 25 | $17.4M | — | ||
| Q4 24 | $191.3M | $73.6M | ||
| Q3 24 | $163.4M | — | ||
| Q2 24 | $34.5M | $88.4M | ||
| Q1 24 | $84.6M | — |
自由现金流率AOSRBC
| Q4 25 | 18.1% | 21.5% | ||
| Q3 25 | 25.5% | 15.7% | ||
| Q2 25 | 12.1% | 23.9% | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 21.0% | 18.7% | ||
| Q3 24 | 18.1% | — | ||
| Q2 24 | 3.4% | 21.8% | ||
| Q1 24 | 8.6% | — |
资本支出强度AOSRBC
| Q4 25 | 1.9% | 5.0% | ||
| Q3 25 | 1.6% | 3.7% | ||
| Q2 25 | 1.7% | 3.6% | ||
| Q1 25 | 2.2% | 3.2% | ||
| Q4 24 | 3.4% | 2.6% | ||
| Q3 24 | 3.6% | 4.1% | ||
| Q2 24 | 2.2% | 2.2% | ||
| Q1 24 | 2.2% | — |
现金转化率AOSRBC
| Q4 25 | 1.46× | 1.81× | ||
| Q3 25 | 1.93× | 1.47× | ||
| Q2 25 | 0.92× | 1.75× | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 2.02× | 1.45× | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | 1.59× | ||
| 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% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
