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American Water Works（AWK）与亨斯迈（HUN）财务数据对比。点击上方公司名可切换其他公司
亨斯迈的季度营收约是American Water Works的1.1倍（$1.4B vs $1.3B），American Water Works净利率更高（18.7% vs -7.1%，领先25.8%），American Water Works同比增速更快（5.8% vs -6.7%），亨斯迈自由现金流更多（$19.0M vs $-385.0M），过去两年American Water Works的营收复合增速更高（12.6% vs -4.0%）
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。
亨斯迈公司是总部位于美国得克萨斯州伍德兰兹的全球化化工巨头，面向消费端与工业客户生产、销售各类化工产品，主营聚氨酯、高性能材料及胶粘剂，客户覆盖宝马、通用电气、雪佛龙、宝洁、联合利华等知名品牌。目前公司在全球25个国家设有60余处生产、研发及运营基地，员工约7000人。
AWK vs HUN — 直观对比
营收规模更大
HUN
是对方的1.1倍
$1.3B
营收增速更快
AWK
高出12.5%
-6.7%
净利率更高
AWK
高出25.8%
-7.1%
自由现金流更多
HUN
多$404.0M
$-385.0M
两年增速更快
AWK
近两年复合增速
-4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.4B |
| 净利润 | $238.0M | $-96.0M |
| 毛利率 | — | 12.1% |
| 营业利润率 | 31.9% | -4.4% |
| 净利率 | 18.7% | -7.1% |
| 营收同比 | 5.8% | -6.7% |
| 净利润同比 | -0.4% | 31.9% |
| 每股收益（稀释后） | $1.22 | $-0.56 |
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AWKHUN
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.2B | $1.5B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $1.1B | $1.6B | ||
| Q1 24 | $1.0B | $1.5B |
净利润AWKHUN
| Q4 25 | $238.0M | $-96.0M | ||
| Q3 25 | $379.0M | $-25.0M | ||
| Q2 25 | $289.0M | $-158.0M | ||
| Q1 25 | $205.0M | $-5.0M | ||
| Q4 24 | $239.0M | $-141.0M | ||
| Q3 24 | $350.0M | $-33.0M | ||
| Q2 24 | $277.0M | $22.0M | ||
| Q1 24 | $185.0M | $-37.0M |
毛利率AWKHUN
| Q4 25 | — | 12.1% | ||
| Q3 25 | — | 14.0% | ||
| Q2 25 | — | 12.5% | ||
| Q1 25 | — | 14.3% | ||
| Q4 24 | — | 12.9% | ||
| Q3 24 | — | 15.2% | ||
| Q2 24 | — | 15.4% | ||
| Q1 24 | — | 13.7% |
营业利润率AWKHUN
| Q4 25 | 31.9% | -4.4% | ||
| Q3 25 | 42.2% | 0.4% | ||
| Q2 25 | 38.4% | -8.2% | ||
| Q1 25 | 32.7% | 3.0% | ||
| Q4 24 | 33.3% | -4.3% | ||
| Q3 24 | 40.9% | 2.7% | ||
| Q2 24 | 39.4% | 2.2% | ||
| Q1 24 | 32.5% | -2.6% |
净利率AWKHUN
| Q4 25 | 18.7% | -7.1% | ||
| Q3 25 | 26.1% | -1.7% | ||
| Q2 25 | 22.7% | -10.8% | ||
| Q1 25 | 18.1% | -0.4% | ||
| Q4 24 | 19.9% | -9.7% | ||
| Q3 24 | 26.4% | -2.1% | ||
| Q2 24 | 24.3% | 1.4% | ||
| Q1 24 | 18.4% | -2.5% |
每股收益（稀释后）AWKHUN
| Q4 25 | $1.22 | $-0.56 | ||
| Q3 25 | $1.94 | $-0.14 | ||
| Q2 25 | $1.48 | $-0.92 | ||
| Q1 25 | $1.05 | $-0.03 | ||
| Q4 24 | $1.22 | $-0.82 | ||
| Q3 24 | $1.80 | $-0.19 | ||
| Q2 24 | $1.42 | $0.13 | ||
| Q1 24 | $0.95 | $-0.22 |
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 | $429.0M |
| 总债务越低越好 | $12.8B | $2.0B |
| 股东权益账面价值 | $10.8B | $2.8B |
| 总资产 | $35.4B | $7.0B |
| 负债/权益比越低杠杆越低 | 1.18× | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资AWKHUN
| Q4 25 | $98.0M | $429.0M | ||
| Q3 25 | $166.0M | $468.0M | ||
| Q2 25 | $94.0M | $399.0M | ||
| Q1 25 | $114.0M | $334.0M | ||
| Q4 24 | $96.0M | $340.0M | ||
| Q3 24 | $127.0M | $330.0M | ||
| Q2 24 | $48.0M | $335.0M | ||
| Q1 24 | $584.0M | $552.0M |
总债务AWKHUN
| Q4 25 | $12.8B | $2.0B | ||
| Q3 25 | $13.0B | $2.0B | ||
| Q2 25 | $12.3B | $2.0B | ||
| Q1 25 | $13.3B | $2.0B | ||
| Q4 24 | $12.5B | $1.8B | ||
| Q3 24 | $12.6B | $1.9B | ||
| Q2 24 | $12.6B | $1.9B | ||
| Q1 24 | $12.6B | $2.1B |
股东权益AWKHUN
| Q4 25 | $10.8B | $2.8B | ||
| Q3 25 | $10.9B | $2.8B | ||
| Q2 25 | $10.7B | $2.8B | ||
| Q1 25 | $10.5B | $3.0B | ||
| Q4 24 | $10.3B | $3.0B | ||
| Q3 24 | $10.4B | $3.1B | ||
| Q2 24 | $10.2B | $3.1B | ||
| Q1 24 | $10.0B | $3.2B |
总资产AWKHUN
| Q4 25 | $35.4B | $7.0B | ||
| Q3 25 | $34.7B | $7.1B | ||
| Q2 25 | $33.9B | $7.1B | ||
| Q1 25 | $33.2B | $7.2B | ||
| Q4 24 | $32.8B | $7.1B | ||
| Q3 24 | $31.8B | $7.3B | ||
| Q2 24 | $31.2B | $7.3B | ||
| Q1 24 | $31.1B | $7.6B |
负债/权益比AWKHUN
| Q4 25 | 1.18× | 0.73× | ||
| Q3 25 | 1.19× | 0.73× | ||
| Q2 25 | 1.15× | 0.72× | ||
| Q1 25 | 1.26× | 0.66× | ||
| Q4 24 | 1.21× | 0.62× | ||
| Q3 24 | 1.21× | 0.60× | ||
| Q2 24 | 1.24× | 0.62× | ||
| Q1 24 | 1.26× | 0.65× |
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 | $76.0M |
| 自由现金流经营现金流 - 资本支出 | $-385.0M | $19.0M |
| 自由现金流率自由现金流/营收 | -30.3% | 1.4% |
| 资本支出强度资本支出/营收 | 82.5% | 4.2% |
| 现金转化率经营现金流/净利润 | 2.79× | — |
| 过去12个月自由现金流最近4个季度 | $-1.1B | $116.0M |
8季度趋势，按日历期对齐
经营现金流AWKHUN
| Q4 25 | $663.0M | $76.0M | ||
| Q3 25 | $764.0M | $196.0M | ||
| Q2 25 | $301.0M | $91.0M | ||
| Q1 25 | $331.0M | $-74.0M | ||
| Q4 24 | $639.0M | $153.0M | ||
| Q3 24 | $679.0M | $129.0M | ||
| Q2 24 | $345.0M | $46.0M | ||
| Q1 24 | $382.0M | $-65.0M |
自由现金流AWKHUN
| Q4 25 | $-385.0M | $19.0M | ||
| Q3 25 | $-33.0M | $153.0M | ||
| Q2 25 | $-432.0M | $54.0M | ||
| Q1 25 | $-217.0M | $-110.0M | ||
| Q4 24 | $-255.0M | $102.0M | ||
| Q3 24 | $-4.0M | $88.0M | ||
| Q2 24 | $-325.0M | $-4.0M | ||
| Q1 24 | $-227.0M | $-107.0M |
自由现金流率AWKHUN
| Q4 25 | -30.3% | 1.4% | ||
| Q3 25 | -2.3% | 10.5% | ||
| Q2 25 | -34.0% | 3.7% | ||
| Q1 25 | -19.1% | -7.8% | ||
| Q4 24 | -21.2% | 7.0% | ||
| Q3 24 | -0.3% | 5.7% | ||
| Q2 24 | -28.5% | -0.3% | ||
| Q1 24 | -22.6% | -7.3% |
资本支出强度AWKHUN
| Q4 25 | 82.5% | 4.2% | ||
| Q3 25 | 54.8% | 2.9% | ||
| Q2 25 | 57.6% | 2.5% | ||
| Q1 25 | 48.3% | 2.6% | ||
| Q4 24 | 74.4% | 3.5% | ||
| Q3 24 | 51.4% | 2.7% | ||
| Q2 24 | 58.8% | 3.2% | ||
| Q1 24 | 60.7% | 2.9% |
现金转化率AWKHUN
| Q4 25 | 2.79× | — | ||
| Q3 25 | 2.02× | — | ||
| Q2 25 | 1.04× | — | ||
| Q1 25 | 1.61× | — | ||
| Q4 24 | 2.67× | — | ||
| Q3 24 | 1.94× | — | ||
| Q2 24 | 1.25× | 2.09× | ||
| Q1 24 | 2.06× | — |
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% |
HUN
| Diversified | $897.0M | 66% |
| Specialty | $231.0M | 17% |
| Performance Products | $113.0M | 8% |
| Advanced Materials | $61.0M | 5% |
| Related Party Customers | $19.0M | 1% |
| Other | $12.0M | 1% |
