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A.O.史密斯（AOS）与SCANSOURCE, INC.（SCSC）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SCANSOURCE, INC.的1.2倍（$945.6M vs $766.5M），A.O.史密斯净利率更高（12.5% vs 2.2%，领先10.3%），SCANSOURCE, INC.同比增速更快（2.5% vs -2.0%），A.O.史密斯自由现金流更多（$118.9M vs $28.9M），过去两年SCANSOURCE, INC.的营收复合增速更高（0.9% vs -3.9%）
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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
AOS vs SCSC — 直观对比
营收规模更大
AOS
是对方的1.2倍
$766.5M
营收增速更快
SCSC
高出4.5%
-2.0%
净利率更高
AOS
高出10.3%
2.2%
自由现金流更多
AOS
多$90.0M
$28.9M
两年增速更快
SCSC
近两年复合增速
-3.9%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $945.6M | $766.5M |
| 净利润 | $118.0M | $16.5M |
| 毛利率 | 38.7% | 13.4% |
| 营业利润率 | — | 2.3% |
| 净利率 | 12.5% | 2.2% |
| 营收同比 | -2.0% | 2.5% |
| 净利润同比 | -14.0% | -3.3% |
| 每股收益（稀释后） | $0.85 | $0.75 |
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AOSSCSC
| Q1 26 | $945.6M | — | ||
| Q4 25 | $912.5M | $766.5M | ||
| Q3 25 | $942.5M | $739.6M | ||
| Q2 25 | $1.0B | $812.9M | ||
| Q1 25 | $963.9M | $704.8M | ||
| Q4 24 | $912.4M | $747.5M | ||
| Q3 24 | $902.6M | $775.6M | ||
| Q2 24 | $1.0B | $746.1M |
净利润AOSSCSC
| Q1 26 | $118.0M | — | ||
| Q4 25 | $125.4M | $16.5M | ||
| Q3 25 | $132.0M | $19.9M | ||
| Q2 25 | $152.2M | $20.1M | ||
| Q1 25 | $136.6M | $17.4M | ||
| Q4 24 | $109.7M | $17.1M | ||
| Q3 24 | $120.1M | $17.0M | ||
| Q2 24 | $156.2M | $16.1M |
毛利率AOSSCSC
| Q1 26 | 38.7% | — | ||
| Q4 25 | 38.4% | 13.4% | ||
| Q3 25 | 38.7% | 14.5% | ||
| Q2 25 | 39.3% | 12.9% | ||
| Q1 25 | 38.9% | 14.2% | ||
| Q4 24 | 37.1% | 13.6% | ||
| Q3 24 | 37.4% | 13.1% | ||
| Q2 24 | 38.7% | 13.0% |
营业利润率AOSSCSC
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | 2.3% | ||
| Q3 25 | 18.6% | 3.5% | ||
| Q2 25 | 20.4% | 3.3% | ||
| Q1 25 | 19.1% | 3.2% | ||
| Q4 24 | 10.1% | 2.5% | ||
| Q3 24 | 19.5% | 2.3% | ||
| Q2 24 | 21.9% | 2.9% |
净利率AOSSCSC
| Q1 26 | 12.5% | — | ||
| Q4 25 | 13.7% | 2.2% | ||
| Q3 25 | 14.0% | 2.7% | ||
| Q2 25 | 15.0% | 2.5% | ||
| Q1 25 | 14.2% | 2.5% | ||
| Q4 24 | 12.0% | 2.3% | ||
| Q3 24 | 13.3% | 2.2% | ||
| Q2 24 | 15.2% | 2.2% |
每股收益（稀释后）AOSSCSC
| Q1 26 | $0.85 | — | ||
| Q4 25 | $0.89 | $0.75 | ||
| Q3 25 | $0.94 | $0.89 | ||
| Q2 25 | $1.07 | $0.87 | ||
| Q1 25 | $0.95 | $0.74 | ||
| Q4 24 | $0.75 | $0.70 | ||
| Q3 24 | $0.82 | $0.69 | ||
| Q2 24 | $1.06 | $0.66 |
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 | $185.2M | $83.5M |
| 总债务越低越好 | $574.2M | — |
| 股东权益账面价值 | $1.9B | $910.9M |
| 总资产 | $3.7B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.31× | — |
8季度趋势，按日历期对齐
现金及短期投资AOSSCSC
| Q1 26 | $185.2M | — | ||
| Q4 25 | $193.2M | $83.5M | ||
| Q3 25 | $172.8M | $124.9M | ||
| Q2 25 | $177.9M | $126.2M | ||
| Q1 25 | $200.2M | $146.3M | ||
| Q4 24 | $276.1M | $110.5M | ||
| Q3 24 | $255.6M | $145.0M | ||
| Q2 24 | $233.3M | $185.5M |
总债务AOSSCSC
| Q1 26 | $574.2M | — | ||
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AOSSCSC
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $910.9M | ||
| Q3 25 | $1.8B | $914.0M | ||
| Q2 25 | $1.8B | $906.4M | ||
| Q1 25 | $1.9B | $901.7M | ||
| Q4 24 | $1.9B | $900.7M | ||
| Q3 24 | $1.9B | $920.9M | ||
| Q2 24 | $1.9B | $924.3M |
总资产AOSSCSC
| Q1 26 | $3.7B | — | ||
| Q4 25 | $3.1B | $1.7B | ||
| Q3 25 | $3.2B | $1.7B | ||
| Q2 25 | $3.2B | $1.8B | ||
| Q1 25 | $3.3B | $1.7B | ||
| Q4 24 | $3.2B | $1.7B | ||
| Q3 24 | $3.2B | $1.8B | ||
| Q2 24 | $3.2B | $1.8B |
负债/权益比AOSSCSC
| Q1 26 | 0.31× | — | ||
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $118.9M | $28.9M |
| 自由现金流率自由现金流/营收 | 12.6% | 3.8% |
| 资本支出强度资本支出/营收 | 1.1% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 过去12个月自由现金流最近4个季度 | $647.5M | — |
8季度趋势，按日历期对齐
经营现金流AOSSCSC
| Q1 26 | — | — | ||
| Q4 25 | $183.1M | $30.8M | ||
| Q3 25 | $255.4M | $23.2M | ||
| Q2 25 | $139.6M | — | ||
| Q1 25 | $38.7M | $66.1M | ||
| Q4 24 | $221.9M | $-6.2M | ||
| Q3 24 | $195.9M | $44.8M | ||
| Q2 24 | $57.4M | — |
自由现金流AOSSCSC
| Q1 26 | $118.9M | — | ||
| Q4 25 | $165.5M | $28.9M | ||
| Q3 25 | $240.6M | $20.8M | ||
| Q2 25 | $122.5M | — | ||
| Q1 25 | $17.4M | $64.6M | ||
| Q4 24 | $191.3M | $-8.2M | ||
| Q3 24 | $163.4M | $42.5M | ||
| Q2 24 | $34.5M | — |
自由现金流率AOSSCSC
| Q1 26 | 12.6% | — | ||
| Q4 25 | 18.1% | 3.8% | ||
| Q3 25 | 25.5% | 2.8% | ||
| Q2 25 | 12.1% | — | ||
| Q1 25 | 1.8% | 9.2% | ||
| Q4 24 | 21.0% | -1.1% | ||
| Q3 24 | 18.1% | 5.5% | ||
| Q2 24 | 3.4% | — |
资本支出强度AOSSCSC
| Q1 26 | 1.1% | — | ||
| Q4 25 | 1.9% | 0.3% | ||
| Q3 25 | 1.6% | 0.3% | ||
| Q2 25 | 1.7% | 0.3% | ||
| Q1 25 | 2.2% | 0.2% | ||
| Q4 24 | 3.4% | 0.3% | ||
| Q3 24 | 3.6% | 0.3% | ||
| Q2 24 | 2.2% | 0.2% |
现金转化率AOSSCSC
| Q1 26 | — | — | ||
| Q4 25 | 1.46× | 1.87× | ||
| Q3 25 | 1.93× | 1.17× | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | 0.28× | 3.79× | ||
| Q4 24 | 2.02× | -0.36× | ||
| Q3 24 | 1.63× | 2.64× | ||
| Q2 24 | 0.37× | — |
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
暂无分部数据
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
