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A.O.史密斯（AOS）与TKO Group Holdings（TKO）财务数据对比。点击上方公司名可切换其他公司
TKO Group Holdings的季度营收约是A.O.史密斯的1.1倍（$1.0B vs $912.5M），A.O.史密斯净利率更高（13.7% vs -0.2%，领先14.0%），TKO Group Holdings同比增速更快（61.6% vs 0.0%），过去两年TKO Group Holdings的营收复合增速更高（28.4% 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。
TKO Group Holdings是美国体育及体育娱乐上市企业，成立于2023年9月12日，由奋进集团（Endeavor）子公司、终极格斗冠军赛（UFC）母公司Zuffa与职业摔跤品牌世界摔角娱乐（WWE）合并组建，主营综合格斗、职业摔跤赛事运营及相关娱乐内容业务。
AOS vs TKO — 直观对比
营收规模更大
TKO
是对方的1.1倍
$912.5M
营收增速更快
TKO
高出61.6%
0.0%
净利率更高
AOS
高出14.0%
-0.2%
两年增速更快
TKO
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $1.0B |
| 净利润 | $125.4M | $-2.4M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 17.9% | 5.5% |
| 净利率 | 13.7% | -0.2% |
| 营收同比 | 0.0% | 61.6% |
| 净利润同比 | 14.3% | -107.7% |
| 每股收益（稀释后） | $0.89 | $-0.07 |
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AOSTKO
| Q4 25 | $912.5M | $1.0B | ||
| Q3 25 | $942.5M | $1.1B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $963.9M | $1.3B | ||
| Q4 24 | $912.4M | $642.2M | ||
| Q3 24 | $902.6M | $681.3M | ||
| Q2 24 | $1.0B | $851.2M | ||
| Q1 24 | $978.8M | $629.7M |
净利润AOSTKO
| Q4 25 | $125.4M | $-2.4M | ||
| Q3 25 | $132.0M | $41.0M | ||
| Q2 25 | $152.2M | $98.4M | ||
| Q1 25 | $136.6M | $58.4M | ||
| Q4 24 | $109.7M | $31.0M | ||
| Q3 24 | $120.1M | $23.1M | ||
| Q2 24 | $156.2M | $59.1M | ||
| Q1 24 | $147.6M | $-103.8M |
毛利率AOSTKO
| 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AOSTKO
| Q4 25 | 17.9% | 5.5% | ||
| Q3 25 | 18.6% | 15.4% | ||
| Q2 25 | 20.4% | 28.1% | ||
| Q1 25 | 19.1% | 18.7% | ||
| Q4 24 | 10.1% | 15.9% | ||
| Q3 24 | 19.5% | 20.0% | ||
| Q2 24 | 21.9% | 30.0% | ||
| Q1 24 | 22.0% | -33.4% |
净利率AOSTKO
| Q4 25 | 13.7% | -0.2% | ||
| Q3 25 | 14.0% | 3.7% | ||
| Q2 25 | 15.0% | 7.5% | ||
| Q1 25 | 14.2% | 4.6% | ||
| Q4 24 | 12.0% | 4.8% | ||
| Q3 24 | 13.3% | 3.4% | ||
| Q2 24 | 15.2% | 6.9% | ||
| Q1 24 | 15.1% | -16.5% |
每股收益（稀释后）AOSTKO
| Q4 25 | $0.89 | $-0.07 | ||
| Q3 25 | $0.94 | $0.47 | ||
| Q2 25 | $1.07 | $1.17 | ||
| Q1 25 | $0.95 | $0.69 | ||
| Q4 24 | $0.75 | $0.28 | ||
| Q3 24 | $0.82 | $0.28 | ||
| Q2 24 | $1.06 | $0.72 | ||
| Q1 24 | $1.00 | $-1.26 |
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 | $831.1M |
| 总债务越低越好 | $155.0M | $3.8B |
| 股东权益账面价值 | $1.9B | $3.7B |
| 总资产 | $3.1B | $15.5B |
| 负债/权益比越低杠杆越低 | 0.08× | 1.01× |
8季度趋势，按日历期对齐
现金及短期投资AOSTKO
| Q4 25 | $193.2M | $831.1M | ||
| Q3 25 | $172.8M | $861.4M | ||
| Q2 25 | $177.9M | $535.1M | ||
| Q1 25 | $200.2M | $470.9M | ||
| Q4 24 | $276.1M | $525.6M | ||
| Q3 24 | $255.6M | $457.4M | ||
| Q2 24 | $233.3M | $277.5M | ||
| Q1 24 | $303.1M | $245.8M |
总债务AOSTKO
| Q4 25 | $155.0M | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $193.2M | $2.8B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.7B |
股东权益AOSTKO
| Q4 25 | $1.9B | $3.7B | ||
| Q3 25 | $1.8B | $3.8B | ||
| Q2 25 | $1.8B | $4.3B | ||
| Q1 25 | $1.9B | $4.2B | ||
| Q4 24 | $1.9B | $4.1B | ||
| Q3 24 | $1.9B | $4.0B | ||
| Q2 24 | $1.9B | $4.0B | ||
| Q1 24 | $1.9B | $4.0B |
总资产AOSTKO
| Q4 25 | $3.1B | $15.5B | ||
| Q3 25 | $3.2B | $15.5B | ||
| Q2 25 | $3.2B | $15.3B | ||
| Q1 25 | $3.3B | $15.0B | ||
| Q4 24 | $3.2B | $12.7B | ||
| Q3 24 | $3.2B | $12.8B | ||
| Q2 24 | $3.2B | $12.7B | ||
| Q1 24 | $3.2B | $12.7B |
负债/权益比AOSTKO
| Q4 25 | 0.08× | 1.01× | ||
| Q3 25 | — | 0.98× | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | 0.10× | 0.67× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | 0.68× |
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 | $309.9M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | — |
| 自由现金流率自由现金流/营收 | 18.1% | — |
| 资本支出强度资本支出/营收 | 1.9% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流AOSTKO
| Q4 25 | $183.1M | $309.9M | ||
| Q3 25 | $255.4M | $416.8M | ||
| Q2 25 | $139.6M | $396.2M | ||
| Q1 25 | $38.7M | $162.8M | ||
| Q4 24 | $221.9M | $56.8M | ||
| Q3 24 | $195.9M | $236.5M | ||
| Q2 24 | $57.4M | $230.7M | ||
| Q1 24 | $106.6M | $59.3M |
自由现金流AOSTKO
| Q4 25 | $165.5M | — | ||
| Q3 25 | $240.6M | — | ||
| Q2 25 | $122.5M | — | ||
| Q1 25 | $17.4M | — | ||
| Q4 24 | $191.3M | — | ||
| Q3 24 | $163.4M | — | ||
| Q2 24 | $34.5M | — | ||
| Q1 24 | $84.6M | — |
自由现金流率AOSTKO
| Q4 25 | 18.1% | — | ||
| Q3 25 | 25.5% | — | ||
| Q2 25 | 12.1% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 21.0% | — | ||
| Q3 24 | 18.1% | — | ||
| Q2 24 | 3.4% | — | ||
| Q1 24 | 8.6% | — |
资本支出强度AOSTKO
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 2.2% | — |
现金转化率AOSTKO
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.93× | 10.16× | ||
| Q2 25 | 0.92× | 4.03× | ||
| Q1 25 | 0.28× | 2.79× | ||
| Q4 24 | 2.02× | 1.83× | ||
| Q3 24 | 1.63× | 10.22× | ||
| Q2 24 | 0.37× | 3.90× | ||
| 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% |
TKO
| World Wrestling Entertainment Segment | $359.6M | 35% |
| IMG Segment | $247.6M | 24% |
| Media Rights Production And Content | $222.6M | 21% |
| Partnerships And Marketing | $93.3M | 9% |
| Live Events And Hospitality | $72.2M | 7% |
| Other | $29.4M | 3% |
| Consumer Products Licensing And Other | $13.2M | 1% |
