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A.O.史密斯（AOS）与Simpson Manufacturing Co., Inc.（SSD）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Simpson Manufacturing Co., Inc.的1.7倍（$912.5M vs $539.3M）。A.O.史密斯净利率更高（13.7% vs 10.4%，领先3.3%）。Simpson Manufacturing Co., Inc.同比增速更快（4.2% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $119.0M）。过去两年Simpson Manufacturing Co., Inc.的营收复合增速更高（0.8% 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。
辛普森制造是美国领先的建筑材料生产企业，主营面向新建建筑及改造翻新项目的结构连接件、紧固件、锚固件等专业产品，在建筑配套材料领域具备深厚的技术积累与较高的市场认可度。
AOS vs SSD — 直观对比
营收规模更大
AOS
是对方的1.7倍
$539.3M
营收增速更快
SSD
高出4.2%
0.0%
净利率更高
AOS
高出3.3%
10.4%
自由现金流更多
AOS
多$46.5M
$119.0M
两年增速更快
SSD
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $539.3M |
| 净利润 | $125.4M | $56.2M |
| 毛利率 | 38.4% | 43.4% |
| 营业利润率 | 17.9% | 13.9% |
| 净利率 | 13.7% | 10.4% |
| 营收同比 | 0.0% | 4.2% |
| 净利润同比 | 14.3% | 1.4% |
| 每股收益（稀释后） | $0.89 | $1.34 |
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AOSSSD
| Q4 25 | $912.5M | $539.3M | ||
| Q3 25 | $942.5M | $623.5M | ||
| Q2 25 | $1.0B | $631.1M | ||
| Q1 25 | $963.9M | $538.9M | ||
| Q4 24 | $912.4M | $517.4M | ||
| Q3 24 | $902.6M | $587.2M | ||
| Q2 24 | $1.0B | $597.0M | ||
| Q1 24 | $978.8M | $530.6M |
净利润AOSSSD
| Q4 25 | $125.4M | $56.2M | ||
| Q3 25 | $132.0M | $107.4M | ||
| Q2 25 | $152.2M | $103.5M | ||
| Q1 25 | $136.6M | $77.9M | ||
| Q4 24 | $109.7M | $55.4M | ||
| Q3 24 | $120.1M | $93.5M | ||
| Q2 24 | $156.2M | $97.8M | ||
| Q1 24 | $147.6M | $75.4M |
毛利率AOSSSD
| Q4 25 | 38.4% | 43.4% | ||
| Q3 25 | 38.7% | 46.4% | ||
| Q2 25 | 39.3% | 46.7% | ||
| Q1 25 | 38.9% | 46.8% | ||
| Q4 24 | 37.1% | 44.0% | ||
| Q3 24 | 37.4% | 46.8% | ||
| Q2 24 | 38.7% | 46.7% | ||
| Q1 24 | 39.3% | 46.1% |
营业利润率AOSSSD
| Q4 25 | 17.9% | 13.9% | ||
| Q3 25 | 18.6% | 22.6% | ||
| Q2 25 | 20.4% | 22.2% | ||
| Q1 25 | 19.1% | 19.0% | ||
| Q4 24 | 10.1% | 14.8% | ||
| Q3 24 | 19.5% | 21.3% | ||
| Q2 24 | 21.9% | 22.1% | ||
| Q1 24 | 22.0% | 18.1% |
净利率AOSSSD
| Q4 25 | 13.7% | 10.4% | ||
| Q3 25 | 14.0% | 17.2% | ||
| Q2 25 | 15.0% | 16.4% | ||
| Q1 25 | 14.2% | 14.5% | ||
| Q4 24 | 12.0% | 10.7% | ||
| Q3 24 | 13.3% | 15.9% | ||
| Q2 24 | 15.2% | 16.4% | ||
| Q1 24 | 15.1% | 14.2% |
每股收益（稀释后）AOSSSD
| Q4 25 | $0.89 | $1.34 | ||
| Q3 25 | $0.94 | $2.58 | ||
| Q2 25 | $1.07 | $2.47 | ||
| Q1 25 | $0.95 | $1.85 | ||
| Q4 24 | $0.75 | $1.31 | ||
| Q3 24 | $0.82 | $2.21 | ||
| Q2 24 | $1.06 | $2.31 | ||
| Q1 24 | $1.00 | $1.77 |
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 | $384.1M |
| 总债务越低越好 | $155.0M | $300.0M |
| 股东权益账面价值 | $1.9B | $2.0B |
| 总资产 | $3.1B | $3.1B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资AOSSSD
| Q4 25 | $193.2M | $384.1M | ||
| Q3 25 | $172.8M | $297.3M | ||
| Q2 25 | $177.9M | $190.4M | ||
| Q1 25 | $200.2M | $150.3M | ||
| Q4 24 | $276.1M | $239.4M | ||
| Q3 24 | $255.6M | $339.4M | ||
| Q2 24 | $233.3M | $354.9M | ||
| Q1 24 | $303.1M | $369.1M |
总债务AOSSSD
| Q4 25 | $155.0M | $300.0M | ||
| Q3 25 | — | $371.3M | ||
| Q2 25 | — | $376.9M | ||
| Q1 25 | — | $382.5M | ||
| Q4 24 | $193.2M | $388.1M | ||
| Q3 24 | — | $393.8M | ||
| Q2 24 | — | $399.4M | ||
| Q1 24 | — | $405.0M |
股东权益AOSSSD
| Q4 25 | $1.9B | $2.0B | ||
| Q3 25 | $1.8B | $2.0B | ||
| Q2 25 | $1.8B | $1.9B | ||
| Q1 25 | $1.9B | $1.9B | ||
| Q4 24 | $1.9B | $1.8B | ||
| Q3 24 | $1.9B | $1.9B | ||
| Q2 24 | $1.9B | $1.8B | ||
| Q1 24 | $1.9B | $1.7B |
总资产AOSSSD
| Q4 25 | $3.1B | $3.1B | ||
| Q3 25 | $3.2B | $3.0B | ||
| Q2 25 | $3.2B | $3.0B | ||
| Q1 25 | $3.3B | $2.8B | ||
| Q4 24 | $3.2B | $2.7B | ||
| Q3 24 | $3.2B | $2.9B | ||
| Q2 24 | $3.2B | $2.8B | ||
| Q1 24 | $3.2B | $2.7B |
负债/权益比AOSSSD
| Q4 25 | 0.08× | 0.15× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.20× | ||
| Q1 25 | — | 0.21× | ||
| Q4 24 | 0.10× | 0.21× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.23× | ||
| Q1 24 | — | 0.23× |
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 | $155.7M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $119.0M |
| 自由现金流率自由现金流/营收 | 18.1% | 22.1% |
| 资本支出强度资本支出/营收 | 1.9% | 6.8% |
| 现金转化率经营现金流/净利润 | 1.46× | 2.77× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $297.6M |
8季度趋势，按日历期对齐
经营现金流AOSSSD
| Q4 25 | $183.1M | $155.7M | ||
| Q3 25 | $255.4M | $170.2M | ||
| Q2 25 | $139.6M | $125.2M | ||
| Q1 25 | $38.7M | $7.6M | ||
| Q4 24 | $221.9M | $115.8M | ||
| Q3 24 | $195.9M | $103.3M | ||
| Q2 24 | $57.4M | $111.1M | ||
| Q1 24 | $106.6M | $7.9M |
自由现金流AOSSSD
| Q4 25 | $165.5M | $119.0M | ||
| Q3 25 | $240.6M | $133.9M | ||
| Q2 25 | $122.5M | $87.3M | ||
| Q1 25 | $17.4M | $-42.6M | ||
| Q4 24 | $191.3M | $60.3M | ||
| Q3 24 | $163.4M | $58.1M | ||
| Q2 24 | $34.5M | $70.9M | ||
| Q1 24 | $84.6M | $-31.5M |
自由现金流率AOSSSD
| Q4 25 | 18.1% | 22.1% | ||
| Q3 25 | 25.5% | 21.5% | ||
| Q2 25 | 12.1% | 13.8% | ||
| Q1 25 | 1.8% | -7.9% | ||
| Q4 24 | 21.0% | 11.7% | ||
| Q3 24 | 18.1% | 9.9% | ||
| Q2 24 | 3.4% | 11.9% | ||
| Q1 24 | 8.6% | -5.9% |
资本支出强度AOSSSD
| Q4 25 | 1.9% | 6.8% | ||
| Q3 25 | 1.6% | 5.8% | ||
| Q2 25 | 1.7% | 6.0% | ||
| Q1 25 | 2.2% | 9.3% | ||
| Q4 24 | 3.4% | 10.7% | ||
| Q3 24 | 3.6% | 7.7% | ||
| Q2 24 | 2.2% | 6.7% | ||
| Q1 24 | 2.2% | 7.4% |
现金转化率AOSSSD
| Q4 25 | 1.46× | 2.77× | ||
| Q3 25 | 1.93× | 1.58× | ||
| Q2 25 | 0.92× | 1.21× | ||
| Q1 25 | 0.28× | 0.10× | ||
| Q4 24 | 2.02× | 2.09× | ||
| Q3 24 | 1.63× | 1.10× | ||
| Q2 24 | 0.37× | 1.14× | ||
| Q1 24 | 0.72× | 0.11× |
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% |
SSD
| Wood Construction | $352.0M | 65% |
| Other | $122.4M | 23% |
| Concrete Construction | $64.6M | 12% |
| Other Products | $318.0K | 0% |
