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A.O.史密斯（AOS）与TUTOR PERINI CORP（TPC）财务数据对比。点击上方公司名可切换其他公司
TUTOR PERINI CORP的季度营收约是A.O.史密斯的1.7倍（$1.5B vs $912.5M）。A.O.史密斯净利率更高（13.7% vs 1.9%，领先11.8%）。TUTOR PERINI CORP同比增速更快（41.2% vs 0.0%）。A.O.史密斯自由现金流更多（$165.5M vs $98.7M）。过去两年TUTOR PERINI CORP的营收复合增速更高（19.9% 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。
Tutor Perini集团是美国顶尖的大型总承包商之一，2008年由Perini公司与Tutor-Saliba公司合并成立，总部位于加利福尼亚州西尔马。公司业务覆盖北美全境，2024年营收约43.3亿美元，核心业务涵盖桥梁、公路、隧道、机场、公共交通系统等民用基建项目，同时也涉足建筑工程领域。
AOS vs TPC — 直观对比
营收规模更大
TPC
是对方的1.7倍
$912.5M
营收增速更快
TPC
高出41.2%
0.0%
净利率更高
AOS
高出11.8%
1.9%
自由现金流更多
AOS
多$66.8M
$98.7M
两年增速更快
TPC
近两年复合增速
-3.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $1.5B |
| 净利润 | $125.4M | $28.8M |
| 毛利率 | 38.4% | 9.8% |
| 营业利润率 | 17.9% | 3.3% |
| 净利率 | 13.7% | 1.9% |
| 营收同比 | 0.0% | 41.2% |
| 净利润同比 | 14.3% | 136.3% |
| 每股收益（稀释后） | $0.89 | $0.53 |
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AOSTPC
| Q4 25 | $912.5M | $1.5B | ||
| Q3 25 | $942.5M | $1.4B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $963.9M | $1.2B | ||
| Q4 24 | $912.4M | $1.1B | ||
| Q3 24 | $902.6M | $1.1B | ||
| Q2 24 | $1.0B | $1.1B | ||
| Q1 24 | $978.8M | $1.0B |
净利润AOSTPC
| Q4 25 | $125.4M | $28.8M | ||
| Q3 25 | $132.0M | $3.6M | ||
| Q2 25 | $152.2M | $20.0M | ||
| Q1 25 | $136.6M | $28.0M | ||
| Q4 24 | $109.7M | $-79.4M | ||
| Q3 24 | $120.1M | $-100.9M | ||
| Q2 24 | $156.2M | $812.0K | ||
| Q1 24 | $147.6M | $15.8M |
毛利率AOSTPC
| Q4 25 | 38.4% | 9.8% | ||
| Q3 25 | 38.7% | 12.0% | ||
| Q2 25 | 39.3% | 14.3% | ||
| Q1 25 | 38.9% | 10.8% | ||
| Q4 24 | 37.1% | -0.9% | ||
| Q3 24 | 37.4% | -2.4% | ||
| Q2 24 | 38.7% | 10.4% | ||
| Q1 24 | 39.3% | 11.0% |
营业利润率AOSTPC
| Q4 25 | 17.9% | 3.3% | ||
| Q3 25 | 18.6% | 2.8% | ||
| Q2 25 | 20.4% | 5.6% | ||
| Q1 25 | 19.1% | 5.2% | ||
| Q4 24 | 10.1% | -8.1% | ||
| Q3 24 | 19.5% | -9.9% | ||
| Q2 24 | 21.9% | 3.6% | ||
| Q1 24 | 22.0% | 4.7% |
净利率AOSTPC
| Q4 25 | 13.7% | 1.9% | ||
| Q3 25 | 14.0% | 0.3% | ||
| Q2 25 | 15.0% | 1.5% | ||
| Q1 25 | 14.2% | 2.2% | ||
| Q4 24 | 12.0% | -7.4% | ||
| Q3 24 | 13.3% | -9.3% | ||
| Q2 24 | 15.2% | 0.1% | ||
| Q1 24 | 15.1% | 1.5% |
每股收益（稀释后）AOSTPC
| Q4 25 | $0.89 | $0.53 | ||
| Q3 25 | $0.94 | $0.07 | ||
| Q2 25 | $1.07 | $0.38 | ||
| Q1 25 | $0.95 | $0.53 | ||
| Q4 24 | $0.75 | $-1.53 | ||
| Q3 24 | $0.82 | $-1.92 | ||
| Q2 24 | $1.06 | $0.02 | ||
| Q1 24 | $1.00 | $0.30 |
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 | $734.6M |
| 总债务越低越好 | $155.0M | $407.4M |
| 股东权益账面价值 | $1.9B | $1.2B |
| 总资产 | $3.1B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资AOSTPC
| Q4 25 | $193.2M | $734.6M | ||
| Q3 25 | $172.8M | $695.7M | ||
| Q2 25 | $177.9M | $526.1M | ||
| Q1 25 | $200.2M | $276.5M | ||
| Q4 24 | $276.1M | $455.1M | ||
| Q3 24 | $255.6M | $287.4M | ||
| Q2 24 | $233.3M | $267.1M | ||
| Q1 24 | $303.1M | $358.3M |
总债务AOSTPC
| Q4 25 | $155.0M | $407.4M | ||
| Q3 25 | — | $413.1M | ||
| Q2 25 | — | $419.4M | ||
| Q1 25 | — | $405.6M | ||
| Q4 24 | $193.2M | $534.1M | ||
| Q3 24 | — | $681.4M | ||
| Q2 24 | — | $676.4M | ||
| Q1 24 | — | $801.2M |
股东权益AOSTPC
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $1.8B | $1.2B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.9B | $1.2B | ||
| Q4 24 | $1.9B | $1.1B | ||
| Q3 24 | $1.9B | $1.2B | ||
| Q2 24 | $1.9B | $1.3B | ||
| Q1 24 | $1.9B | $1.3B |
总资产AOSTPC
| Q4 25 | $3.1B | $5.2B | ||
| Q3 25 | $3.2B | $5.2B | ||
| Q2 25 | $3.2B | $4.9B | ||
| Q1 25 | $3.3B | $4.5B | ||
| Q4 24 | $3.2B | $4.2B | ||
| Q3 24 | $3.2B | $4.4B | ||
| Q2 24 | $3.2B | $4.3B | ||
| Q1 24 | $3.2B | $4.4B |
负债/权益比AOSTPC
| Q4 25 | 0.08× | 0.33× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | 0.10× | 0.47× | ||
| Q3 24 | — | 0.56× | ||
| Q2 24 | — | 0.52× | ||
| Q1 24 | — | 0.61× |
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 | $173.7M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $98.7M |
| 自由现金流率自由现金流/营收 | 18.1% | 6.5% |
| 资本支出强度资本支出/营收 | 1.9% | 5.0% |
| 现金转化率经营现金流/净利润 | 1.46× | 6.02× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $567.2M |
8季度趋势，按日历期对齐
经营现金流AOSTPC
| Q4 25 | $183.1M | $173.7M | ||
| Q3 25 | $255.4M | $289.1M | ||
| Q2 25 | $139.6M | $262.4M | ||
| Q1 25 | $38.7M | $22.9M | ||
| Q4 24 | $221.9M | $329.6M | ||
| Q3 24 | $195.9M | $22.6M | ||
| Q2 24 | $57.4M | $53.1M | ||
| Q1 24 | $106.6M | $98.3M |
自由现金流AOSTPC
| Q4 25 | $165.5M | $98.7M | ||
| Q3 25 | $240.6M | $240.2M | ||
| Q2 25 | $122.5M | $235.6M | ||
| Q1 25 | $17.4M | $-7.2M | ||
| Q4 24 | $191.3M | $320.4M | ||
| Q3 24 | $163.4M | $15.6M | ||
| Q2 24 | $34.5M | $42.2M | ||
| Q1 24 | $84.6M | $87.8M |
自由现金流率AOSTPC
| Q4 25 | 18.1% | 6.5% | ||
| Q3 25 | 25.5% | 17.0% | ||
| Q2 25 | 12.1% | 17.1% | ||
| Q1 25 | 1.8% | -0.6% | ||
| Q4 24 | 21.0% | 30.0% | ||
| Q3 24 | 18.1% | 1.4% | ||
| Q2 24 | 3.4% | 3.7% | ||
| Q1 24 | 8.6% | 8.4% |
资本支出强度AOSTPC
| Q4 25 | 1.9% | 5.0% | ||
| Q3 25 | 1.6% | 3.5% | ||
| Q2 25 | 1.7% | 2.0% | ||
| Q1 25 | 2.2% | 2.4% | ||
| Q4 24 | 3.4% | 0.9% | ||
| Q3 24 | 3.6% | 0.6% | ||
| Q2 24 | 2.2% | 1.0% | ||
| Q1 24 | 2.2% | 1.0% |
现金转化率AOSTPC
| Q4 25 | 1.46× | 6.02× | ||
| Q3 25 | 1.93× | 79.63× | ||
| Q2 25 | 0.92× | 13.14× | ||
| Q1 25 | 0.28× | 0.82× | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | 65.44× | ||
| Q1 24 | 0.72× | 6.24× |
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% |
TPC
| State And Local Agencies | $591.1M | 39% |
| Mass Transit | $449.9M | 30% |
| Federal Agencies | $115.0M | 8% |
| Bridges | $100.5M | 7% |
| Military Facilities | $93.1M | 6% |
| Commercial And Industrial Facilities | $46.7M | 3% |
| Detention Facilities | $43.8M | 3% |
| Power And Energy | $35.8M | 2% |
| Multi Unit Residential | $25.9M | 2% |
| Education Facilities | $12.0M | 1% |
| Water | $3.6M | 0% |
