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A.O.史密斯（AOS）与TECOGEN INC.（TGEN）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TECOGEN INC.的171.6倍（$912.5M vs $5.3M）。A.O.史密斯净利率更高（13.7% vs -75.1%，领先88.8%）。A.O.史密斯同比增速更快（0.0% vs -12.5%）。A.O.史密斯自由现金流更多（$165.5M vs $-2.6M）。过去两年A.O.史密斯的营收复合增速更高（-3.4% vs -7.3%）
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。
AOS vs TGEN — 直观对比
营收规模更大
AOS
是对方的171.6倍
$5.3M
营收增速更快
AOS
高出12.5%
-12.5%
净利率更高
AOS
高出88.8%
-75.1%
自由现金流更多
AOS
多$168.1M
$-2.6M
两年增速更快
AOS
近两年复合增速
-7.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $5.3M |
| 净利润 | $125.4M | $-4.0M |
| 毛利率 | 38.4% | 36.8% |
| 营业利润率 | 17.9% | -77.8% |
| 净利率 | 13.7% | -75.1% |
| 营收同比 | 0.0% | -12.5% |
| 净利润同比 | 14.3% | -236.7% |
| 每股收益（稀释后） | $0.89 | $-0.14 |
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AOSTGEN
| Q4 25 | $912.5M | $5.3M | ||
| Q3 25 | $942.5M | $7.2M | ||
| Q2 25 | $1.0B | $7.3M | ||
| Q1 25 | $963.9M | $7.3M | ||
| Q4 24 | $912.4M | $6.1M | ||
| Q3 24 | $902.6M | $5.6M | ||
| Q2 24 | $1.0B | $4.7M | ||
| Q1 24 | $978.8M | $6.2M |
净利润AOSTGEN
| Q4 25 | $125.4M | $-4.0M | ||
| Q3 25 | $132.0M | $-2.1M | ||
| Q2 25 | $152.2M | $-1.5M | ||
| Q1 25 | $136.6M | $-659.9K | ||
| Q4 24 | $109.7M | $-1.2M | ||
| Q3 24 | $120.1M | $-930.4K | ||
| Q2 24 | $156.2M | $-1.5M | ||
| Q1 24 | $147.6M | $-1.1M |
毛利率AOSTGEN
| Q4 25 | 38.4% | 36.8% | ||
| Q3 25 | 38.7% | 30.4% | ||
| Q2 25 | 39.3% | 33.8% | ||
| Q1 25 | 38.9% | 44.3% | ||
| Q4 24 | 37.1% | 45.0% | ||
| Q3 24 | 37.4% | 44.1% | ||
| Q2 24 | 38.7% | 44.0% | ||
| Q1 24 | 39.3% | 41.6% |
营业利润率AOSTGEN
| Q4 25 | 17.9% | -77.8% | ||
| Q3 25 | 18.6% | -29.2% | ||
| Q2 25 | 20.4% | -19.4% | ||
| Q1 25 | 19.1% | -8.2% | ||
| Q4 24 | 10.1% | -18.7% | ||
| Q3 24 | 19.5% | -15.5% | ||
| Q2 24 | 21.9% | -31.2% | ||
| Q1 24 | 22.0% | -17.0% |
净利率AOSTGEN
| Q4 25 | 13.7% | -75.1% | ||
| Q3 25 | 14.0% | -29.7% | ||
| Q2 25 | 15.0% | -20.1% | ||
| Q1 25 | 14.2% | -9.1% | ||
| Q4 24 | 12.0% | -19.5% | ||
| Q3 24 | 13.3% | -16.5% | ||
| Q2 24 | 15.2% | -32.5% | ||
| Q1 24 | 15.1% | -17.9% |
每股收益（稀释后）AOSTGEN
| Q4 25 | $0.89 | $-0.14 | ||
| Q3 25 | $0.94 | $-0.07 | ||
| Q2 25 | $1.07 | $-0.06 | ||
| Q1 25 | $0.95 | $-0.03 | ||
| Q4 24 | $0.75 | $-0.05 | ||
| Q3 24 | $0.82 | $-0.04 | ||
| Q2 24 | $1.06 | $-0.06 | ||
| Q1 24 | $1.00 | $-0.04 |
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 | $12.4M |
| 总债务越低越好 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $21.6M |
| 总资产 | $3.1B | $37.0M |
| 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AOSTGEN
| Q4 25 | $193.2M | $12.4M | ||
| Q3 25 | $172.8M | $15.3M | ||
| Q2 25 | $177.9M | $1.6M | ||
| Q1 25 | $200.2M | $4.1M | ||
| Q4 24 | $276.1M | $5.4M | ||
| Q3 24 | $255.6M | $1.3M | ||
| Q2 24 | $233.3M | $841.9K | ||
| Q1 24 | $303.1M | $1.5M |
总债务AOSTGEN
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSTGEN
| Q4 25 | $1.9B | $21.6M | ||
| Q3 25 | $1.8B | $25.5M | ||
| Q2 25 | $1.8B | $9.1M | ||
| Q1 25 | $1.9B | $9.6M | ||
| Q4 24 | $1.9B | $10.2M | ||
| Q3 24 | $1.9B | $11.3M | ||
| Q2 24 | $1.9B | $12.2M | ||
| Q1 24 | $1.9B | $13.7M |
总资产AOSTGEN
| Q4 25 | $3.1B | $37.0M | ||
| Q3 25 | $3.2B | $41.5M | ||
| Q2 25 | $3.2B | $28.4M | ||
| Q1 25 | $3.3B | $29.7M | ||
| Q4 24 | $3.2B | $31.1M | ||
| Q3 24 | $3.2B | $27.5M | ||
| Q2 24 | $3.2B | $27.2M | ||
| Q1 24 | $3.2B | $28.5M |
负债/权益比AOSTGEN
| 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 | $-2.6M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $-2.6M |
| 自由现金流率自由现金流/营收 | 18.1% | -49.3% |
| 资本支出强度资本支出/营收 | 1.9% | 0.9% |
| 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 | $-10.3M |
8季度趋势，按日历期对齐
经营现金流AOSTGEN
| Q4 25 | $183.1M | $-2.6M | ||
| Q3 25 | $255.4M | $-3.6M | ||
| Q2 25 | $139.6M | $-2.6M | ||
| Q1 25 | $38.7M | $-1.2M | ||
| Q4 24 | $221.9M | $4.2M | ||
| Q3 24 | $195.9M | $-207.3K | ||
| Q2 24 | $57.4M | $-157.9K | ||
| Q1 24 | $106.6M | $248.2K |
自由现金流AOSTGEN
| Q4 25 | $165.5M | $-2.6M | ||
| Q3 25 | $240.6M | $-3.6M | ||
| Q2 25 | $122.5M | $-2.7M | ||
| Q1 25 | $17.4M | $-1.3M | ||
| Q4 24 | $191.3M | $4.0M | ||
| Q3 24 | $163.4M | $-489.6K | ||
| Q2 24 | $34.5M | $-609.6K | ||
| Q1 24 | $84.6M | $143.3K |
自由现金流率AOSTGEN
| Q4 25 | 18.1% | -49.3% | ||
| Q3 25 | 25.5% | -50.6% | ||
| Q2 25 | 12.1% | -37.7% | ||
| Q1 25 | 1.8% | -17.9% | ||
| Q4 24 | 21.0% | 66.6% | ||
| Q3 24 | 18.1% | -8.7% | ||
| Q2 24 | 3.4% | -12.9% | ||
| Q1 24 | 8.6% | 2.3% |
资本支出强度AOSTGEN
| Q4 25 | 1.9% | 0.9% | ||
| Q3 25 | 1.6% | 1.0% | ||
| Q2 25 | 1.7% | 2.0% | ||
| Q1 25 | 2.2% | 1.8% | ||
| Q4 24 | 3.4% | 2.1% | ||
| Q3 24 | 3.6% | 5.0% | ||
| Q2 24 | 2.2% | 9.6% | ||
| Q1 24 | 2.2% | 1.7% |
现金转化率AOSTGEN
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 2.02× | — | ||
| 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% |
TGEN
| Installation Services | $4.5M | 84% |
| Products Segment | $460.5K | 9% |
| Other | $394.7K | 7% |
