vs
Artisan Partners Asset Management Inc.（APAM）与沃茨水工业（WTS）财务数据对比。点击上方公司名可切换其他公司
沃茨水工业的季度营收约是Artisan Partners Asset Management Inc.的1.9倍（$625.1M vs $335.5M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs 13.4%，领先21.8%），沃茨水工业同比增速更快（15.7% vs 12.9%），Artisan Partners Asset Management Inc.自由现金流更多（$171.6M vs $140.3M），过去两年Artisan Partners Asset Management Inc.的营收复合增速更高（12.7% vs 4.6%）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
沃茨水工业旗下AERCO是暖通管道领域的商用冷凝锅炉、高效热水设备及能量回收系统供应商，服务覆盖教育、住宿、政府、办公楼、医疗、工业、多户型住宅等多元市场，1949年推出行业首款半即热式无罐蒸汽热水器，1988年推出首款冷凝全调制设备。
APAM vs WTS — 直观对比
营收规模更大
WTS
是对方的1.9倍
$335.5M
营收增速更快
WTS
高出2.7%
12.9%
净利率更高
APAM
高出21.8%
13.4%
自由现金流更多
APAM
多$31.3M
$140.3M
两年增速更快
APAM
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $625.1M |
| 净利润 | $118.1M | $83.7M |
| 毛利率 | — | 49.5% |
| 营业利润率 | 39.2% | 18.2% |
| 净利率 | 35.2% | 13.4% |
| 营收同比 | 12.9% | 15.7% |
| 净利润同比 | 34.9% | 24.0% |
| 每股收益（稀释后） | $1.36 | $2.50 |
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APAMWTS
| Q4 25 | $335.5M | $625.1M | ||
| Q3 25 | $301.3M | $611.7M | ||
| Q2 25 | $282.7M | $643.7M | ||
| Q1 25 | $277.1M | $558.0M | ||
| Q4 24 | $297.1M | $540.4M | ||
| Q3 24 | $279.6M | $543.6M | ||
| Q2 24 | $270.8M | $597.3M | ||
| Q1 24 | $264.4M | $570.9M |
净利润APAMWTS
| Q4 25 | $118.1M | $83.7M | ||
| Q3 25 | $66.8M | $82.2M | ||
| Q2 25 | $67.6M | $100.9M | ||
| Q1 25 | $61.1M | $74.0M | ||
| Q4 24 | $87.5M | $67.5M | ||
| Q3 24 | $73.0M | $69.1M | ||
| Q2 24 | $57.6M | $82.0M | ||
| Q1 24 | $59.5M | $72.6M |
毛利率APAMWTS
| Q4 25 | — | 49.5% | ||
| Q3 25 | — | 48.8% | ||
| Q2 25 | — | 50.6% | ||
| Q1 25 | — | 48.8% | ||
| Q4 24 | — | 46.7% | ||
| Q3 24 | — | 47.3% | ||
| Q2 24 | — | 47.7% | ||
| Q1 24 | — | 46.9% |
营业利润率APAMWTS
| Q4 25 | 39.2% | 18.2% | ||
| Q3 25 | 33.8% | 18.2% | ||
| Q2 25 | 28.2% | 21.0% | ||
| Q1 25 | 31.2% | 15.7% | ||
| Q4 24 | 36.7% | 16.5% | ||
| Q3 24 | 33.3% | 17.1% | ||
| Q2 24 | 32.0% | 18.7% | ||
| Q1 24 | 29.4% | 16.9% |
净利率APAMWTS
| Q4 25 | 35.2% | 13.4% | ||
| Q3 25 | 22.2% | 13.4% | ||
| Q2 25 | 23.9% | 15.7% | ||
| Q1 25 | 22.1% | 13.3% | ||
| Q4 24 | 29.5% | 12.5% | ||
| Q3 24 | 26.1% | 12.7% | ||
| Q2 24 | 21.3% | 13.7% | ||
| Q1 24 | 22.5% | 12.7% |
每股收益（稀释后）APAMWTS
| Q4 25 | $1.36 | $2.50 | ||
| Q3 25 | $0.93 | $2.45 | ||
| Q2 25 | $0.94 | $3.01 | ||
| Q1 25 | $0.82 | $2.21 | ||
| Q4 24 | $0.99 | $2.02 | ||
| Q3 24 | $1.03 | $2.06 | ||
| Q2 24 | $0.80 | $2.44 | ||
| Q1 24 | $0.84 | $2.17 |
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 | — | $405.5M |
| 总债务越低越好 | $190.0M | — |
| 股东权益账面价值 | $438.8M | $2.0B |
| 总资产 | $1.6B | $2.9B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资APAMWTS
| Q4 25 | — | $405.5M | ||
| Q3 25 | — | $457.7M | ||
| Q2 25 | — | $369.3M | ||
| Q1 25 | — | $336.8M | ||
| Q4 24 | — | $386.9M | ||
| Q3 24 | — | $303.9M | ||
| Q2 24 | — | $279.4M | ||
| Q1 24 | — | $237.1M |
总债务APAMWTS
| Q4 25 | $190.0M | — | ||
| Q3 25 | $190.0M | — | ||
| Q2 25 | $200.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q4 24 | $200.0M | — | ||
| Q3 24 | $200.0M | — | ||
| Q2 24 | $200.0M | — | ||
| Q1 24 | $200.0M | — |
股东权益APAMWTS
| Q4 25 | $438.8M | $2.0B | ||
| Q3 25 | $402.1M | $2.0B | ||
| Q2 25 | $381.8M | $1.9B | ||
| Q1 25 | $356.5M | $1.8B | ||
| Q4 24 | $388.9M | $1.7B | ||
| Q3 24 | $372.1M | $1.7B | ||
| Q2 24 | $341.2M | $1.6B | ||
| Q1 24 | $320.3M | $1.6B |
总资产APAMWTS
| Q4 25 | $1.6B | $2.9B | ||
| Q3 25 | $1.6B | $2.7B | ||
| Q2 25 | $1.4B | $2.6B | ||
| Q1 25 | $1.4B | $2.5B | ||
| Q4 24 | $1.6B | $2.4B | ||
| Q3 24 | $1.6B | $2.4B | ||
| Q2 24 | $1.5B | $2.4B | ||
| Q1 24 | $1.5B | $2.3B |
负债/权益比APAMWTS
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.62× | — |
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 | $172.0M | $154.7M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | $140.3M |
| 自由现金流率自由现金流/营收 | 51.2% | 22.4% |
| 资本支出强度资本支出/营收 | 0.1% | 2.3% |
| 现金转化率经营现金流/净利润 | 1.46× | 1.85× |
| 过去12个月自由现金流最近4个季度 | $420.6M | $356.3M |
8季度趋势，按日历期对齐
经营现金流APAMWTS
| Q4 25 | $172.0M | $154.7M | ||
| Q3 25 | $40.4M | $122.4M | ||
| Q2 25 | $50.9M | $69.7M | ||
| Q1 25 | $157.9M | $55.2M | ||
| Q4 24 | $372.8M | $139.5M | ||
| Q3 24 | $112.8M | $90.7M | ||
| Q2 24 | $75.9M | $85.3M | ||
| Q1 24 | $147.0M | $45.6M |
自由现金流APAMWTS
| Q4 25 | $171.6M | $140.3M | ||
| Q3 25 | $40.4M | $110.9M | ||
| Q2 25 | $50.9M | $59.5M | ||
| Q1 25 | $157.7M | $45.6M | ||
| Q4 24 | $371.3M | $127.5M | ||
| Q3 24 | $112.4M | $84.3M | ||
| Q2 24 | $75.2M | $78.5M | ||
| Q1 24 | $146.9M | $35.5M |
自由现金流率APAMWTS
| Q4 25 | 51.2% | 22.4% | ||
| Q3 25 | 13.4% | 18.1% | ||
| Q2 25 | 18.0% | 9.2% | ||
| Q1 25 | 56.9% | 8.2% | ||
| Q4 24 | 125.0% | 23.6% | ||
| Q3 24 | 40.2% | 15.5% | ||
| Q2 24 | 27.8% | 13.1% | ||
| Q1 24 | 55.6% | 6.2% |
资本支出强度APAMWTS
| Q4 25 | 0.1% | 2.3% | ||
| Q3 25 | 0.0% | 1.9% | ||
| Q2 25 | 0.0% | 1.6% | ||
| Q1 25 | 0.1% | 1.7% | ||
| Q4 24 | 0.5% | 2.2% | ||
| Q3 24 | 0.1% | 1.2% | ||
| Q2 24 | 0.2% | 1.1% | ||
| Q1 24 | 0.0% | 1.8% |
现金转化率APAMWTS
| Q4 25 | 1.46× | 1.85× | ||
| Q3 25 | 0.60× | 1.49× | ||
| Q2 25 | 0.75× | 0.69× | ||
| Q1 25 | 2.58× | 0.75× | ||
| Q4 24 | 4.26× | 2.07× | ||
| Q3 24 | 1.54× | 1.31× | ||
| Q2 24 | 1.32× | 1.04× | ||
| Q1 24 | 2.47× | 0.63× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
