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American Water Works（AWK）与Encompass Health Corp（EHC）财务数据对比。点击上方公司名可切换其他公司
Encompass Health Corp的季度营收约是American Water Works的1.2倍（$1.5B vs $1.3B），American Water Works净利率更高（18.7% vs 9.5%，领先9.3%），Encompass Health Corp同比增速更快（9.9% vs 5.8%），Encompass Health Corp自由现金流更多（$116.7M vs $-385.0M），过去两年American Water Works的营收复合增速更高（12.6% vs 8.3%）
American Water Works通过旗下子公司在美国境内提供专业供水与污水处理服务，业务覆盖14个州的约1700个社区，服务约340万活跃用户，客户群体涵盖住宅用户、食品饮料供应商、商业地产开发商与运营商、能源供应商等商业客户、消防服务及工业类客户等。
Encompass Health Corp前身为Amcare及HealthSouth，总部位于美国阿拉巴马州伯明翰，是美国规模最大的住院康复服务提供商，在39个州及波多黎各拥有173家住院康复医院，为中风、神经系统疾病、心肺病症、脑损伤等患者提供专业康复诊疗服务。
AWK vs EHC — 直观对比
营收规模更大
EHC
是对方的1.2倍
$1.3B
营收增速更快
EHC
高出4.1%
5.8%
净利率更高
AWK
高出9.3%
9.5%
自由现金流更多
EHC
多$501.7M
$-385.0M
两年增速更快
AWK
近两年复合增速
8.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.5B |
| 净利润 | $238.0M | $146.1M |
| 毛利率 | — | — |
| 营业利润率 | 31.9% | 16.7% |
| 净利率 | 18.7% | 9.5% |
| 营收同比 | 5.8% | 9.9% |
| 净利润同比 | -0.4% | 20.8% |
| 每股收益（稀释后） | $1.22 | $1.43 |
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AWKEHC
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $1.1B | $1.5B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $1.0B | $1.3B |
净利润AWKEHC
| Q4 25 | $238.0M | $146.1M | ||
| Q3 25 | $379.0M | $126.5M | ||
| Q2 25 | $289.0M | $142.1M | ||
| Q1 25 | $205.0M | $151.5M | ||
| Q4 24 | $239.0M | $120.9M | ||
| Q3 24 | $350.0M | $108.2M | ||
| Q2 24 | $277.0M | $114.1M | ||
| Q1 24 | $185.0M | $112.5M |
营业利润率AWKEHC
| Q4 25 | 31.9% | 16.7% | ||
| Q3 25 | 42.2% | 14.9% | ||
| Q2 25 | 38.4% | 16.2% | ||
| Q1 25 | 32.7% | 16.4% | ||
| Q4 24 | 33.3% | 14.3% | ||
| Q3 24 | 40.9% | 13.6% | ||
| Q2 24 | 39.4% | 14.3% | ||
| Q1 24 | 32.5% | 13.6% |
净利率AWKEHC
| Q4 25 | 18.7% | 9.5% | ||
| Q3 25 | 26.1% | 8.6% | ||
| Q2 25 | 22.7% | 9.7% | ||
| Q1 25 | 18.1% | 10.4% | ||
| Q4 24 | 19.9% | 8.6% | ||
| Q3 24 | 26.4% | 8.0% | ||
| Q2 24 | 24.3% | 8.8% | ||
| Q1 24 | 18.4% | 8.5% |
每股收益（稀释后）AWKEHC
| Q4 25 | $1.22 | $1.43 | ||
| Q3 25 | $1.94 | $1.24 | ||
| Q2 25 | $1.48 | $1.39 | ||
| Q1 25 | $1.05 | $1.48 | ||
| Q4 24 | $1.22 | $1.18 | ||
| Q3 24 | $1.80 | $1.06 | ||
| Q2 24 | $1.42 | $1.12 | ||
| Q1 24 | $0.95 | $1.10 |
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 | $98.0M | $72.2M |
| 总债务越低越好 | $12.8B | $2.4B |
| 股东权益账面价值 | $10.8B | $2.4B |
| 总资产 | $35.4B | $7.1B |
| 负债/权益比越低杠杆越低 | 1.18× | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资AWKEHC
| Q4 25 | $98.0M | $72.2M | ||
| Q3 25 | $166.0M | $48.7M | ||
| Q2 25 | $94.0M | $99.1M | ||
| Q1 25 | $114.0M | $95.8M | ||
| Q4 24 | $96.0M | $85.4M | ||
| Q3 24 | $127.0M | $147.8M | ||
| Q2 24 | $48.0M | $154.4M | ||
| Q1 24 | $584.0M | $134.4M |
总债务AWKEHC
| Q4 25 | $12.8B | $2.4B | ||
| Q3 25 | $13.0B | $2.4B | ||
| Q2 25 | $12.3B | $2.3B | ||
| Q1 25 | $13.3B | $2.3B | ||
| Q4 24 | $12.5B | $2.4B | ||
| Q3 24 | $12.6B | $2.3B | ||
| Q2 24 | $12.6B | $2.7B | ||
| Q1 24 | $12.6B | $2.7B |
股东权益AWKEHC
| Q4 25 | $10.8B | $2.4B | ||
| Q3 25 | $10.9B | $2.4B | ||
| Q2 25 | $10.7B | $2.3B | ||
| Q1 25 | $10.5B | $2.2B | ||
| Q4 24 | $10.3B | $2.1B | ||
| Q3 24 | $10.4B | $2.0B | ||
| Q2 24 | $10.2B | $1.8B | ||
| Q1 24 | $10.0B | $1.7B |
总资产AWKEHC
| Q4 25 | $35.4B | $7.1B | ||
| Q3 25 | $34.7B | $6.9B | ||
| Q2 25 | $33.9B | $6.8B | ||
| Q1 25 | $33.2B | $6.6B | ||
| Q4 24 | $32.8B | $6.5B | ||
| Q3 24 | $31.8B | $6.5B | ||
| Q2 24 | $31.2B | $6.4B | ||
| Q1 24 | $31.1B | $6.2B |
负债/权益比AWKEHC
| Q4 25 | 1.18× | 1.00× | ||
| Q3 25 | 1.19× | 1.01× | ||
| Q2 25 | 1.15× | 1.02× | ||
| Q1 25 | 1.26× | 1.08× | ||
| Q4 24 | 1.21× | 1.14× | ||
| Q3 24 | 1.21× | 1.20× | ||
| Q2 24 | 1.24× | 1.46× | ||
| Q1 24 | 1.26× | 1.54× |
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 | $663.0M | $346.0M |
| 自由现金流经营现金流 - 资本支出 | $-385.0M | $116.7M |
| 自由现金流率自由现金流/营收 | -30.3% | 7.6% |
| 资本支出强度资本支出/营收 | 82.5% | 14.8% |
| 现金转化率经营现金流/净利润 | 2.79× | 2.37× |
| 过去12个月自由现金流最近4个季度 | $-1.1B | $439.2M |
8季度趋势，按日历期对齐
经营现金流AWKEHC
| Q4 25 | $663.0M | $346.0M | ||
| Q3 25 | $764.0M | $270.8M | ||
| Q2 25 | $301.0M | $270.2M | ||
| Q1 25 | $331.0M | $288.6M | ||
| Q4 24 | $639.0M | $278.8M | ||
| Q3 24 | $679.0M | $267.8M | ||
| Q2 24 | $345.0M | $217.4M | ||
| Q1 24 | $382.0M | $238.8M |
自由现金流AWKEHC
| Q4 25 | $-385.0M | $116.7M | ||
| Q3 25 | $-33.0M | $83.7M | ||
| Q2 25 | $-432.0M | $113.3M | ||
| Q1 25 | $-217.0M | $125.5M | ||
| Q4 24 | $-255.0M | $80.1M | ||
| Q3 24 | $-4.0M | $120.3M | ||
| Q2 24 | $-325.0M | $60.5M | ||
| Q1 24 | $-227.0M | $99.4M |
自由现金流率AWKEHC
| Q4 25 | -30.3% | 7.6% | ||
| Q3 25 | -2.3% | 5.7% | ||
| Q2 25 | -34.0% | 7.8% | ||
| Q1 25 | -19.1% | 8.6% | ||
| Q4 24 | -21.2% | 5.7% | ||
| Q3 24 | -0.3% | 8.9% | ||
| Q2 24 | -28.5% | 4.6% | ||
| Q1 24 | -22.6% | 7.6% |
资本支出强度AWKEHC
| Q4 25 | 82.5% | 14.8% | ||
| Q3 25 | 54.8% | 12.7% | ||
| Q2 25 | 57.6% | 10.8% | ||
| Q1 25 | 48.3% | 11.2% | ||
| Q4 24 | 74.4% | 14.1% | ||
| Q3 24 | 51.4% | 10.9% | ||
| Q2 24 | 58.8% | 12.1% | ||
| Q1 24 | 60.7% | 10.6% |
现金转化率AWKEHC
| Q4 25 | 2.79× | 2.37× | ||
| Q3 25 | 2.02× | 2.14× | ||
| Q2 25 | 1.04× | 1.90× | ||
| Q1 25 | 1.61× | 1.90× | ||
| Q4 24 | 2.67× | 2.31× | ||
| Q3 24 | 1.94× | 2.48× | ||
| Q2 24 | 1.25× | 1.91× | ||
| Q1 24 | 2.06× | 2.12× |
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
AWK
| Water Services | $1.0B | 81% |
| Other | $127.0M | 10% |
| Wastewater Services | $101.0M | 8% |
| Miscellaneous Utility Charge | $11.0M | 1% |
EHC
| Medicare | $1.0B | 66% |
| Medicare Advantage | $243.1M | 16% |
| Managed Care | $160.7M | 10% |
| Medicaid | $47.0M | 3% |
| Other Income Source | $44.8M | 3% |
| Other Thirdparty Payors | $11.2M | 1% |
| Workers Compensation | $7.6M | 0% |
| Patients | $4.6M | 0% |
