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A.O.史密斯（AOS）与TRINITY INDUSTRIES INC（TRN）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TRINITY INDUSTRIES INC的1.5倍（$912.5M vs $611.2M）。TRINITY INDUSTRIES INC净利率更高（31.8% vs 13.7%，领先18.0%）。A.O.史密斯同比增速更快（0.0% vs -2.9%）。A.O.史密斯自由现金流更多（$165.5M vs $158.6M）。过去两年A.O.史密斯的营收复合增速更高（-3.4% vs -13.1%）
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。
特里尼蒂工业公司是一家美国工业企业，旗下布局多元业务线，为工业、能源、交通、建筑等核心领域提供适配的产品及相关服务，在多个下游行业拥有稳定的客户基础与业务覆盖。
AOS vs TRN — 直观对比
营收规模更大
AOS
是对方的1.5倍
$611.2M
营收增速更快
AOS
高出2.9%
-2.9%
净利率更高
TRN
高出18.0%
13.7%
自由现金流更多
AOS
多$6.9M
$158.6M
两年增速更快
AOS
近两年复合增速
-13.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $611.2M |
| 净利润 | $125.4M | $194.2M |
| 毛利率 | 38.4% | 25.5% |
| 营业利润率 | 17.9% | 54.9% |
| 净利率 | 13.7% | 31.8% |
| 营收同比 | 0.0% | -2.9% |
| 净利润同比 | 14.3% | 413.8% |
| 每股收益（稀释后） | $0.89 | $2.25 |
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AOSTRN
| Q4 25 | $912.5M | $611.2M | ||
| Q3 25 | $942.5M | $454.1M | ||
| Q2 25 | $1.0B | $506.2M | ||
| Q1 25 | $963.9M | $585.4M | ||
| Q4 24 | $912.4M | $629.4M | ||
| Q3 24 | $902.6M | $798.8M | ||
| Q2 24 | $1.0B | $841.4M | ||
| Q1 24 | $978.8M | $809.6M |
净利润AOSTRN
| Q4 25 | $125.4M | $194.2M | ||
| Q3 25 | $132.0M | $30.3M | ||
| Q2 25 | $152.2M | $14.1M | ||
| Q1 25 | $136.6M | $22.1M | ||
| Q4 24 | $109.7M | $37.8M | ||
| Q3 24 | $120.1M | $31.4M | ||
| Q2 24 | $156.2M | $54.4M | ||
| Q1 24 | $147.6M | $23.7M |
毛利率AOSTRN
| Q4 25 | 38.4% | 25.5% | ||
| Q3 25 | 38.7% | 31.1% | ||
| Q2 25 | 39.3% | 26.4% | ||
| Q1 25 | 38.9% | 24.3% | ||
| Q4 24 | 37.1% | 24.6% | ||
| Q3 24 | 37.4% | 21.2% | ||
| Q2 24 | 38.7% | 21.3% | ||
| Q1 24 | 39.3% | 20.3% |
营业利润率AOSTRN
| Q4 25 | 17.9% | 54.9% | ||
| Q3 25 | 18.6% | 26.1% | ||
| Q2 25 | 20.4% | 18.8% | ||
| Q1 25 | 19.1% | 17.0% | ||
| Q4 24 | 10.1% | 17.8% | ||
| Q3 24 | 19.5% | 15.3% | ||
| Q2 24 | 21.9% | 16.9% | ||
| Q1 24 | 22.0% | 14.2% |
净利率AOSTRN
| Q4 25 | 13.7% | 31.8% | ||
| Q3 25 | 14.0% | 6.7% | ||
| Q2 25 | 15.0% | 2.8% | ||
| Q1 25 | 14.2% | 3.8% | ||
| Q4 24 | 12.0% | 6.0% | ||
| Q3 24 | 13.3% | 3.9% | ||
| Q2 24 | 15.2% | 6.5% | ||
| Q1 24 | 15.1% | 2.9% |
每股收益（稀释后）AOSTRN
| Q4 25 | $0.89 | $2.25 | ||
| Q3 25 | $0.94 | $0.37 | ||
| Q2 25 | $1.07 | $0.17 | ||
| Q1 25 | $0.95 | $0.26 | ||
| Q4 24 | $0.75 | $0.34 | ||
| Q3 24 | $0.82 | $0.37 | ||
| Q2 24 | $1.06 | $0.65 | ||
| Q1 24 | $1.00 | $0.28 |
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 | $201.3M |
| 总债务越低越好 | $155.0M | — |
| 股东权益账面价值 | $1.9B | $1.1B |
| 总资产 | $3.1B | $8.4B |
| 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AOSTRN
| Q4 25 | $193.2M | $201.3M | ||
| Q3 25 | $172.8M | $66.3M | ||
| Q2 25 | $177.9M | $147.7M | ||
| Q1 25 | $200.2M | $94.9M | ||
| Q4 24 | $276.1M | $228.2M | ||
| Q3 24 | $255.6M | $222.4M | ||
| Q2 24 | $233.3M | $257.1M | ||
| Q1 24 | $303.1M | $118.8M |
总债务AOSTRN
| Q4 25 | $155.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSTRN
| Q4 25 | $1.9B | $1.1B | ||
| Q3 25 | $1.8B | $1.0B | ||
| Q2 25 | $1.8B | $1.0B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $1.9B | $1.1B | ||
| Q3 24 | $1.9B | $1.1B | ||
| Q2 24 | $1.9B | $1.1B | ||
| Q1 24 | $1.9B | $1.0B |
总资产AOSTRN
| Q4 25 | $3.1B | $8.4B | ||
| Q3 25 | $3.2B | $8.9B | ||
| Q2 25 | $3.2B | $8.8B | ||
| Q1 25 | $3.3B | $8.7B | ||
| Q4 24 | $3.2B | $8.8B | ||
| Q3 24 | $3.2B | $8.8B | ||
| Q2 24 | $3.2B | $9.0B | ||
| Q1 24 | $3.2B | $9.1B |
负债/权益比AOSTRN
| 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 | $177.4M |
| 自由现金流经营现金流 - 资本支出 | $165.5M | $158.6M |
| 自由现金流率自由现金流/营收 | 18.1% | 25.9% |
| 资本支出强度资本支出/营收 | 1.9% | 3.1% |
| 现金转化率经营现金流/净利润 | 1.46× | 0.91× |
| 过去12个月自由现金流最近4个季度 | $546.0M | $314.1M |
8季度趋势，按日历期对齐
经营现金流AOSTRN
| Q4 25 | $183.1M | $177.4M | ||
| Q3 25 | $255.4M | $44.2M | ||
| Q2 25 | $139.6M | $61.6M | ||
| Q1 25 | $38.7M | $76.5M | ||
| Q4 24 | $221.9M | $201.6M | ||
| Q3 24 | $195.9M | $78.5M | ||
| Q2 24 | $57.4M | $241.5M | ||
| Q1 24 | $106.6M | $52.2M |
自由现金流AOSTRN
| Q4 25 | $165.5M | $158.6M | ||
| Q3 25 | $240.6M | $35.3M | ||
| Q2 25 | $122.5M | $52.9M | ||
| Q1 25 | $17.4M | $67.3M | ||
| Q4 24 | $191.3M | $180.1M | ||
| Q3 24 | $163.4M | $62.1M | ||
| Q2 24 | $34.5M | $230.2M | ||
| Q1 24 | $84.6M | $47.6M |
自由现金流率AOSTRN
| Q4 25 | 18.1% | 25.9% | ||
| Q3 25 | 25.5% | 7.8% | ||
| Q2 25 | 12.1% | 10.5% | ||
| Q1 25 | 1.8% | 11.5% | ||
| Q4 24 | 21.0% | 28.6% | ||
| Q3 24 | 18.1% | 7.8% | ||
| Q2 24 | 3.4% | 27.4% | ||
| Q1 24 | 8.6% | 5.9% |
资本支出强度AOSTRN
| Q4 25 | 1.9% | 3.1% | ||
| Q3 25 | 1.6% | 2.0% | ||
| Q2 25 | 1.7% | 1.7% | ||
| Q1 25 | 2.2% | 1.6% | ||
| Q4 24 | 3.4% | 3.4% | ||
| Q3 24 | 3.6% | 2.1% | ||
| Q2 24 | 2.2% | 1.3% | ||
| Q1 24 | 2.2% | 0.6% |
现金转化率AOSTRN
| Q4 25 | 1.46× | 0.91× | ||
| Q3 25 | 1.93× | 1.46× | ||
| Q2 25 | 0.92× | 4.37× | ||
| Q1 25 | 0.28× | 3.46× | ||
| Q4 24 | 2.02× | 5.33× | ||
| Q3 24 | 1.63× | 2.50× | ||
| Q2 24 | 0.37× | 4.44× | ||
| Q1 24 | 0.72× | 2.20× |
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% |
TRN
| Manufacturing | $296.5M | 49% |
| Leasing And Management | $234.8M | 38% |
| Maintenance Services Domain | $69.8M | 11% |
| Digital Logistics Services | $11.2M | 2% |
