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A.O.史密斯（AOS）与沃特世（WAT）财务数据对比。点击上方公司名可切换其他公司
沃特世的季度营收约是A.O.史密斯的1.0倍（$932.4M vs $912.5M），沃特世净利率更高（24.2% vs 13.7%，领先10.4%），沃特世同比增速更快（6.8% vs 0.0%），过去两年沃特世的营收复合增速更高（21.0% 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。
沃特世是总部位于美国马萨诸塞州米尔福德的企业，面向生命科学、材料、食品等行业，提供色谱、质谱、实验室信息学、流变测量领域所用的分析仪器及配套软件，为各领域的检测、研发等工作提供可靠技术支持。
AOS vs WAT — 直观对比
营收规模更大
WAT
是对方的1.0倍
$912.5M
营收增速更快
WAT
高出6.8%
0.0%
净利率更高
WAT
高出10.4%
13.7%
两年增速更快
WAT
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $912.5M | $932.4M |
| 净利润 | $125.4M | $225.2M |
| 毛利率 | 38.4% | 61.1% |
| 营业利润率 | 17.9% | 29.0% |
| 净利率 | 13.7% | 24.2% |
| 营收同比 | 0.0% | 6.8% |
| 净利润同比 | 14.3% | -2.7% |
| 每股收益（稀释后） | $0.89 | $3.76 |
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AOSWAT
| Q4 25 | $912.5M | $932.4M | ||
| Q3 25 | $942.5M | $799.9M | ||
| Q2 25 | $1.0B | $771.3M | ||
| Q1 25 | $963.9M | $661.7M | ||
| Q4 24 | $912.4M | $872.7M | ||
| Q3 24 | $902.6M | $740.3M | ||
| Q2 24 | $1.0B | $708.5M | ||
| Q1 24 | $978.8M | $636.8M |
净利润AOSWAT
| Q4 25 | $125.4M | $225.2M | ||
| Q3 25 | $132.0M | $148.9M | ||
| Q2 25 | $152.2M | $147.1M | ||
| Q1 25 | $136.6M | $121.4M | ||
| Q4 24 | $109.7M | $231.4M | ||
| Q3 24 | $120.1M | $161.5M | ||
| Q2 24 | $156.2M | $142.7M | ||
| Q1 24 | $147.6M | $102.2M |
毛利率AOSWAT
| Q4 25 | 38.4% | 61.1% | ||
| Q3 25 | 38.7% | 59.0% | ||
| Q2 25 | 39.3% | 58.3% | ||
| Q1 25 | 38.9% | 58.2% | ||
| Q4 24 | 37.1% | 60.1% | ||
| Q3 24 | 37.4% | 59.3% | ||
| Q2 24 | 38.7% | 59.3% | ||
| Q1 24 | 39.3% | 58.9% |
营业利润率AOSWAT
| Q4 25 | 17.9% | 29.0% | ||
| Q3 25 | 18.6% | 24.0% | ||
| Q2 25 | 20.4% | 24.4% | ||
| Q1 25 | 19.1% | 22.9% | ||
| Q4 24 | 10.1% | 33.5% | ||
| Q3 24 | 19.5% | 28.5% | ||
| Q2 24 | 21.9% | 26.7% | ||
| Q1 24 | 22.0% | 21.0% |
净利率AOSWAT
| Q4 25 | 13.7% | 24.2% | ||
| Q3 25 | 14.0% | 18.6% | ||
| Q2 25 | 15.0% | 19.1% | ||
| Q1 25 | 14.2% | 18.3% | ||
| Q4 24 | 12.0% | 26.5% | ||
| Q3 24 | 13.3% | 21.8% | ||
| Q2 24 | 15.2% | 20.1% | ||
| Q1 24 | 15.1% | 16.0% |
每股收益（稀释后）AOSWAT
| Q4 25 | $0.89 | $3.76 | ||
| Q3 25 | $0.94 | $2.50 | ||
| Q2 25 | $1.07 | $2.47 | ||
| Q1 25 | $0.95 | $2.03 | ||
| Q4 24 | $0.75 | $3.88 | ||
| Q3 24 | $0.82 | $2.71 | ||
| Q2 24 | $1.06 | $2.40 | ||
| Q1 24 | $1.00 | $1.72 |
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 | $587.8M |
| 总债务越低越好 | $155.0M | $1.4B |
| 股东权益账面价值 | $1.9B | $2.6B |
| 总资产 | $3.1B | $5.1B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资AOSWAT
| Q4 25 | $193.2M | $587.8M | ||
| Q3 25 | $172.8M | $459.1M | ||
| Q2 25 | $177.9M | $367.2M | ||
| Q1 25 | $200.2M | $382.9M | ||
| Q4 24 | $276.1M | $325.4M | ||
| Q3 24 | $255.6M | $331.5M | ||
| Q2 24 | $233.3M | $327.4M | ||
| Q1 24 | $303.1M | $338.2M |
总债务AOSWAT
| Q4 25 | $155.0M | $1.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $193.2M | $1.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AOSWAT
| Q4 25 | $1.9B | $2.6B | ||
| Q3 25 | $1.8B | $2.3B | ||
| Q2 25 | $1.8B | $2.2B | ||
| Q1 25 | $1.9B | $2.0B | ||
| Q4 24 | $1.9B | $1.8B | ||
| Q3 24 | $1.9B | $1.6B | ||
| Q2 24 | $1.9B | $1.4B | ||
| Q1 24 | $1.9B | $1.3B |
总资产AOSWAT
| Q4 25 | $3.1B | $5.1B | ||
| Q3 25 | $3.2B | $4.9B | ||
| Q2 25 | $3.2B | $4.7B | ||
| Q1 25 | $3.3B | $4.6B | ||
| Q4 24 | $3.2B | $4.6B | ||
| Q3 24 | $3.2B | $4.5B | ||
| Q2 24 | $3.2B | $4.4B | ||
| Q1 24 | $3.2B | $4.5B |
负债/权益比AOSWAT
| Q4 25 | 0.08× | 0.55× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | 0.89× | ||
| 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 | $164.6M |
| 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× | 0.73× |
| 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AOSWAT
| Q4 25 | $183.1M | $164.6M | ||
| Q3 25 | $255.4M | $187.3M | ||
| Q2 25 | $139.6M | $41.1M | ||
| Q1 25 | $38.7M | $259.6M | ||
| Q4 24 | $221.9M | $240.1M | ||
| Q3 24 | $195.9M | $204.6M | ||
| Q2 24 | $57.4M | $54.5M | ||
| Q1 24 | $106.6M | $262.9M |
自由现金流AOSWAT
| 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AOSWAT
| 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AOSWAT
| 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AOSWAT
| Q4 25 | 1.46× | 0.73× | ||
| Q3 25 | 1.93× | 1.26× | ||
| Q2 25 | 0.92× | 0.28× | ||
| Q1 25 | 0.28× | 2.14× | ||
| Q4 24 | 2.02× | 1.04× | ||
| Q3 24 | 1.63× | 1.27× | ||
| Q2 24 | 0.37× | 0.38× | ||
| Q1 24 | 0.72× | 2.57× |
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% |
WAT
暂无分部数据
