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A.O.史密斯（AOS）与SURF AIR MOBILITY INC.（SRFM）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SURF AIR MOBILITY INC.的34.5倍（$912.5M vs $26.4M）。A.O.史密斯净利率更高（13.7% vs -139.4%，领先153.2%）。A.O.史密斯同比增速更快（0.0% vs -5.7%）。A.O.史密斯自由现金流更多（$165.5M vs $-20.1M）。过去两年A.O.史密斯的营收复合增速更高（-3.4% vs -7.1%）
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。
冲浪航空移动公司是一家专注于区域航空业务的美国航空企业。该公司计划开发电动及混合动力系统，用于升级现有航空器，同时还在面向区域空中交通出行行业开发搭载人工智能的SurfOS操作系统。它是Surf Air、Surf On Demand，以及莫库勒勒航空、南方快捷航空两家航空公司的母公司。
AOS vs SRFM — 直观对比
营收规模更大
AOS
是对方的34.5倍
$26.4M
营收增速更快
AOS
高出5.7%
-5.7%
净利率更高
AOS
高出153.2%
-139.4%
自由现金流更多
AOS
多$185.6M
$-20.1M
两年增速更快
AOS
近两年复合增速
-7.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $26.4M |
| 净利润 | $125.4M | $-36.9M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 17.9% | -97.8% |
| 净利率 | 13.7% | -139.4% |
| 营收同比 | 0.0% | -5.7% |
| 净利润同比 | 14.3% | -3015.3% |
| 每股收益（稀释后） | $0.89 | $-0.08 |
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AOSSRFM
| Q4 25 | $912.5M | $26.4M | ||
| Q3 25 | $942.5M | $29.2M | ||
| Q2 25 | $1.0B | $27.4M | ||
| Q1 25 | $963.9M | $23.5M | ||
| Q4 24 | $912.4M | $28.0M | ||
| Q3 24 | $902.6M | $28.4M | ||
| Q2 24 | $1.0B | $32.4M | ||
| Q1 24 | $978.8M | $30.6M |
净利润AOSSRFM
| Q4 25 | $125.4M | $-36.9M | ||
| Q3 25 | $132.0M | $-27.2M | ||
| Q2 25 | $152.2M | $-28.0M | ||
| Q1 25 | $136.6M | $-18.5M | ||
| Q4 24 | $109.7M | $1.3M | ||
| Q3 24 | $120.1M | $-12.2M | ||
| Q2 24 | $156.2M | $-27.0M | ||
| Q1 24 | $147.6M | $-37.0M |
毛利率AOSSRFM
| Q4 25 | 38.4% | — | ||
| Q3 25 | 38.7% | — | ||
| Q2 25 | 39.3% | — | ||
| Q1 25 | 38.9% | — | ||
| Q4 24 | 37.1% | — | ||
| Q3 24 | 37.4% | — | ||
| Q2 24 | 38.7% | — | ||
| Q1 24 | 39.3% | — |
营业利润率AOSSRFM
| Q4 25 | 17.9% | -97.8% | ||
| Q3 25 | 18.6% | -56.6% | ||
| Q2 25 | 20.4% | -58.1% | ||
| Q1 25 | 19.1% | -79.0% | ||
| Q4 24 | 10.1% | 28.9% | ||
| Q3 24 | 19.5% | -30.4% | ||
| Q2 24 | 21.9% | -78.0% | ||
| Q1 24 | 22.0% | -112.6% |
净利率AOSSRFM
| Q4 25 | 13.7% | -139.4% | ||
| Q3 25 | 14.0% | -93.3% | ||
| Q2 25 | 15.0% | -102.1% | ||
| Q1 25 | 14.2% | -78.6% | ||
| Q4 24 | 12.0% | 4.5% | ||
| Q3 24 | 13.3% | -43.1% | ||
| Q2 24 | 15.2% | -83.4% | ||
| Q1 24 | 15.1% | -120.7% |
每股收益（稀释后）AOSSRFM
| Q4 25 | $0.89 | $-0.08 | ||
| Q3 25 | $0.94 | $-0.64 | ||
| Q2 25 | $1.07 | $-1.34 | ||
| Q1 25 | $0.95 | $-1.09 | ||
| Q4 24 | $0.75 | $0.80 | ||
| Q3 24 | $0.82 | $-0.94 | ||
| Q2 24 | $1.06 | $-2.31 | ||
| Q1 24 | $1.00 | $-3.35 |
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 | $12.7M |
| 总债务越低越好 | $155.0M | $17.1M |
| 股东权益账面价值 | $1.9B | $-54.9M |
| 总资产 | $3.1B | $131.7M |
| 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AOSSRFM
| Q4 25 | $193.2M | $12.7M | ||
| Q3 25 | $172.8M | $7.1M | ||
| Q2 25 | $177.9M | $22.6M | ||
| Q1 25 | $200.2M | $6.6M | ||
| Q4 24 | $276.1M | $21.1M | ||
| Q3 24 | $255.6M | $506.0K | ||
| Q2 24 | $233.3M | $1.5M | ||
| Q1 24 | $303.1M | $1.3M |
总债务AOSSRFM
| Q4 25 | $155.0M | $17.1M | ||
| Q3 25 | — | $63.8M | ||
| Q2 25 | — | $63.3M | ||
| Q1 25 | — | $62.9M | ||
| Q4 24 | $193.2M | $62.4M | ||
| Q3 24 | — | $22.5M | ||
| Q2 24 | — | $23.3M | ||
| Q1 24 | — | $25.1M |
股东权益AOSSRFM
| Q4 25 | $1.9B | $-54.9M | ||
| Q3 25 | $1.8B | $-92.6M | ||
| Q2 25 | $1.8B | $-115.5M | ||
| Q1 25 | $1.9B | $-135.6M | ||
| Q4 24 | $1.9B | $-120.0M | ||
| Q3 24 | $1.9B | $-135.6M | ||
| Q2 24 | $1.9B | $-128.1M | ||
| Q1 24 | $1.9B | $-106.3M |
总资产AOSSRFM
| Q4 25 | $3.1B | $131.7M | ||
| Q3 25 | $3.2B | $106.8M | ||
| Q2 25 | $3.2B | $129.0M | ||
| Q1 25 | $3.3B | $105.3M | ||
| Q4 24 | $3.2B | $124.1M | ||
| Q3 24 | $3.2B | $97.9M | ||
| Q2 24 | $3.2B | $105.5M | ||
| Q1 24 | $3.2B | $108.8M |
负债/权益比AOSSRFM
| 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 | $-18.4M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $-20.1M |
| 自由现金流率自由现金流/营收 | 18.1% | -76.0% |
| 资本支出强度资本支出/营收 | 1.9% | 6.5% |
| 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 | $-70.1M |
8季度趋势，按日历期对齐
经营现金流AOSSRFM
| Q4 25 | $183.1M | $-18.4M | ||
| Q3 25 | $255.4M | $-19.3M | ||
| Q2 25 | $139.6M | $-10.6M | ||
| Q1 25 | $38.7M | $-15.8M | ||
| Q4 24 | $221.9M | $-23.6M | ||
| Q3 24 | $195.9M | $-12.3M | ||
| Q2 24 | $57.4M | $-5.6M | ||
| Q1 24 | $106.6M | $-12.8M |
自由现金流AOSSRFM
| Q4 25 | $165.5M | $-20.1M | ||
| Q3 25 | $240.6M | $-21.1M | ||
| Q2 25 | $122.5M | $-11.9M | ||
| Q1 25 | $17.4M | $-17.1M | ||
| Q4 24 | $191.3M | $-32.7M | ||
| Q3 24 | $163.4M | $-13.6M | ||
| Q2 24 | $34.5M | $-6.3M | ||
| Q1 24 | $84.6M | $-13.5M |
自由现金流率AOSSRFM
| Q4 25 | 18.1% | -76.0% | ||
| Q3 25 | 25.5% | -72.2% | ||
| Q2 25 | 12.1% | -43.2% | ||
| Q1 25 | 1.8% | -72.6% | ||
| Q4 24 | 21.0% | -116.5% | ||
| Q3 24 | 18.1% | -47.8% | ||
| Q2 24 | 3.4% | -19.5% | ||
| Q1 24 | 8.6% | -44.2% |
资本支出强度AOSSRFM
| Q4 25 | 1.9% | 6.5% | ||
| Q3 25 | 1.6% | 5.9% | ||
| Q2 25 | 1.7% | 4.4% | ||
| Q1 25 | 2.2% | 5.4% | ||
| Q4 24 | 3.4% | 32.4% | ||
| Q3 24 | 3.6% | 4.4% | ||
| Q2 24 | 2.2% | 2.2% | ||
| Q1 24 | 2.2% | 2.3% |
现金转化率AOSSRFM
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 2.02× | -18.64× | ||
| 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% |
SRFM
| Scheduled | $17.2M | 65% |
| On Demand | $9.2M | 35% |
