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A.O.史密斯（AOS）与TEREX CORP（TEX）财务数据对比。点击上方公司名可切换其他公司
TEREX CORP的季度营收约是A.O.史密斯的1.4倍（$1.3B vs $912.5M）。A.O.史密斯净利率更高（13.7% vs 4.8%，领先9.0%）。TEREX CORP同比增速更快（6.2% vs 0.0%）。TEREX CORP自由现金流更多（$171.0M vs $165.5M）。过去两年TEREX CORP的营收复合增速更高（1.0% 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。
特雷克斯公司是美国知名的设备制造企业，业务遍布美洲、欧洲、澳大利亚及亚太地区，主营物料加工机械、废弃物回收处理设备、移动式高空作业平台，以及电力行业专用设备，为全球多领域客户提供专业解决方案。
AOS vs TEX — 直观对比
营收规模更大
TEX
是对方的1.4倍
$912.5M
营收增速更快
TEX
高出6.2%
0.0%
净利率更高
AOS
高出9.0%
4.8%
自由现金流更多
TEX
多$5.5M
$165.5M
两年增速更快
TEX
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $1.3B |
| 净利润 | $125.4M | $63.0M |
| 毛利率 | 38.4% | 18.8% |
| 营业利润率 | 17.9% | 10.4% |
| 净利率 | 13.7% | 4.8% |
| 营收同比 | 0.0% | 6.2% |
| 净利润同比 | 14.3% | 2963.6% |
| 每股收益（稀释后） | $0.89 | $0.95 |
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AOSTEX
| Q4 25 | $912.5M | $1.3B | ||
| Q3 25 | $942.5M | $1.4B | ||
| Q2 25 | $1.0B | $1.5B | ||
| Q1 25 | $963.9M | $1.2B | ||
| Q4 24 | $912.4M | $1.2B | ||
| Q3 24 | $902.6M | $1.2B | ||
| Q2 24 | $1.0B | $1.4B | ||
| Q1 24 | $978.8M | $1.3B |
净利润AOSTEX
| Q4 25 | $125.4M | $63.0M | ||
| Q3 25 | $132.0M | $65.0M | ||
| Q2 25 | $152.2M | $72.0M | ||
| Q1 25 | $136.6M | $21.0M | ||
| Q4 24 | $109.7M | $-2.2M | ||
| Q3 24 | $120.1M | $88.0M | ||
| Q2 24 | $156.2M | $140.7M | ||
| Q1 24 | $147.6M | $108.5M |
毛利率AOSTEX
| Q4 25 | 38.4% | 18.8% | ||
| Q3 25 | 38.7% | 20.3% | ||
| Q2 25 | 39.3% | 19.6% | ||
| Q1 25 | 38.9% | 18.7% | ||
| Q4 24 | 37.1% | 15.9% | ||
| Q3 24 | 37.4% | 20.2% | ||
| Q2 24 | 38.7% | 23.8% | ||
| Q1 24 | 39.3% | 23.0% |
营业利润率AOSTEX
| Q4 25 | 17.9% | 10.4% | ||
| Q3 25 | 18.6% | 10.1% | ||
| Q2 25 | 20.4% | 8.7% | ||
| Q1 25 | 19.1% | 5.6% | ||
| Q4 24 | 10.1% | 4.2% | ||
| Q3 24 | 19.5% | 10.1% | ||
| Q2 24 | 21.9% | 14.0% | ||
| Q1 24 | 22.0% | 12.2% |
净利率AOSTEX
| Q4 25 | 13.7% | 4.8% | ||
| Q3 25 | 14.0% | 4.7% | ||
| Q2 25 | 15.0% | 4.8% | ||
| Q1 25 | 14.2% | 1.7% | ||
| Q4 24 | 12.0% | -0.2% | ||
| Q3 24 | 13.3% | 7.3% | ||
| Q2 24 | 15.2% | 10.2% | ||
| Q1 24 | 15.1% | 8.4% |
每股收益（稀释后）AOSTEX
| Q4 25 | $0.89 | $0.95 | ||
| Q3 25 | $0.94 | $0.98 | ||
| Q2 25 | $1.07 | $1.09 | ||
| Q1 25 | $0.95 | $0.31 | ||
| Q4 24 | $0.75 | $-0.03 | ||
| Q3 24 | $0.82 | $1.31 | ||
| Q2 24 | $1.06 | $2.08 | ||
| Q1 24 | $1.00 | $1.60 |
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 | $772.0M |
| 总债务越低越好 | $155.0M | $2.6B |
| 股东权益账面价值 | $1.9B | $2.1B |
| 总资产 | $3.1B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.08× | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资AOSTEX
| Q4 25 | $193.2M | $772.0M | ||
| Q3 25 | $172.8M | $509.0M | ||
| Q2 25 | $177.9M | $374.0M | ||
| Q1 25 | $200.2M | $298.0M | ||
| Q4 24 | $276.1M | $388.0M | ||
| Q3 24 | $255.6M | $352.0M | ||
| Q2 24 | $233.3M | $319.3M | ||
| Q1 24 | $303.1M | $364.9M |
总债务AOSTEX
| Q4 25 | $155.0M | $2.6B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | $2.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSTEX
| Q4 25 | $1.9B | $2.1B | ||
| Q3 25 | $1.8B | $2.0B | ||
| Q2 25 | $1.8B | $2.0B | ||
| Q1 25 | $1.9B | $1.8B | ||
| Q4 24 | $1.9B | $1.8B | ||
| Q3 24 | $1.9B | $2.0B | ||
| Q2 24 | $1.9B | $1.8B | ||
| Q1 24 | $1.9B | $1.7B |
总资产AOSTEX
| Q4 25 | $3.1B | $6.1B | ||
| Q3 25 | $3.2B | $6.2B | ||
| Q2 25 | $3.2B | $6.2B | ||
| Q1 25 | $3.3B | $5.8B | ||
| Q4 24 | $3.2B | $5.7B | ||
| Q3 24 | $3.2B | $3.8B | ||
| Q2 24 | $3.2B | $3.8B | ||
| Q1 24 | $3.2B | $3.8B |
负债/权益比AOSTEX
| Q4 25 | 0.08× | 1.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | 1.41× | ||
| 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 | $205.0M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $171.0M |
| 自由现金流率自由现金流/营收 | 18.1% | 13.0% |
| 资本支出强度资本支出/营收 | 1.9% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.46× | 3.25× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $322.0M |
8季度趋势，按日历期对齐
经营现金流AOSTEX
| Q4 25 | $183.1M | $205.0M | ||
| Q3 25 | $255.4M | $154.0M | ||
| Q2 25 | $139.6M | $102.0M | ||
| Q1 25 | $38.7M | $-21.0M | ||
| Q4 24 | $221.9M | $177.0M | ||
| Q3 24 | $195.9M | $116.4M | ||
| Q2 24 | $57.4M | $66.5M | ||
| Q1 24 | $106.6M | $-33.9M |
自由现金流AOSTEX
| Q4 25 | $165.5M | $171.0M | ||
| Q3 25 | $240.6M | $130.0M | ||
| Q2 25 | $122.5M | $78.0M | ||
| Q1 25 | $17.4M | $-57.0M | ||
| Q4 24 | $191.3M | $128.0M | ||
| Q3 24 | $163.4M | $87.4M | ||
| Q2 24 | $34.5M | $42.5M | ||
| Q1 24 | $84.6M | $-68.9M |
自由现金流率AOSTEX
| Q4 25 | 18.1% | 13.0% | ||
| Q3 25 | 25.5% | 9.4% | ||
| Q2 25 | 12.1% | 5.2% | ||
| Q1 25 | 1.8% | -4.6% | ||
| Q4 24 | 21.0% | 10.3% | ||
| Q3 24 | 18.1% | 7.2% | ||
| Q2 24 | 3.4% | 3.1% | ||
| Q1 24 | 8.6% | -5.3% |
资本支出强度AOSTEX
| Q4 25 | 1.9% | 2.6% | ||
| Q3 25 | 1.6% | 1.7% | ||
| Q2 25 | 1.7% | 1.6% | ||
| Q1 25 | 2.2% | 2.9% | ||
| Q4 24 | 3.4% | 3.9% | ||
| Q3 24 | 3.6% | 2.4% | ||
| Q2 24 | 2.2% | 1.7% | ||
| Q1 24 | 2.2% | 2.7% |
现金转化率AOSTEX
| Q4 25 | 1.46× | 3.25× | ||
| Q3 25 | 1.93× | 2.37× | ||
| Q2 25 | 0.92× | 1.42× | ||
| Q1 25 | 0.28× | -1.00× | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.63× | 1.32× | ||
| Q2 24 | 0.37× | 0.47× | ||
| Q1 24 | 0.72× | -0.31× |
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% |
TEX
| Aerials Segment | $466.0M | 35% |
| Materials Processing Segment | $428.0M | 32% |
| Materials Processing Equipment | $279.0M | 21% |
| Specialty Equipment | $148.0M | 11% |
