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American Water Works（AWK）与OPAL Fuels Inc.（OPAL）财务数据对比。点击上方公司名可切换其他公司
American Water Works的季度营收约是OPAL Fuels Inc.的14.4倍（$1.3B vs $88.4M）。American Water Works净利率更高（18.7% vs 18.3%，领先0.4%）。OPAL Fuels Inc.同比增速更快（18.7% vs 5.8%）。OPAL Fuels Inc.自由现金流更多（$-13.4M vs $-385.0M）。过去两年OPAL Fuels Inc.的营收复合增速更高（17.6% vs 12.6%）
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。
OPAL Fuels Inc.是一家北美能源企业，专注于生产和分销低碳可再生天然气（RNG）。公司从垃圾填埋场、奶牛场等有机废物流中收集甲烷，产出的可再生天然气主要供应给重型运输车队、商业物流运营商及公共交通实体，助力降低碳排放。
AWK vs OPAL — 直观对比
营收规模更大
AWK
是对方的14.4倍
$88.4M
营收增速更快
OPAL
高出12.9%
5.8%
净利率更高
AWK
高出0.4%
18.3%
自由现金流更多
OPAL
多$371.6M
$-385.0M
两年增速更快
OPAL
近两年复合增速
12.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $88.4M |
| 净利润 | $238.0M | $16.2M |
| 毛利率 | — | — |
| 营业利润率 | 31.9% | 7.5% |
| 净利率 | 18.7% | 18.3% |
| 营收同比 | 5.8% | 18.7% |
| 净利润同比 | -0.4% | 401.5% |
| 每股收益（稀释后） | $1.22 | $0.08 |
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AWKOPAL
| Q4 25 | $1.3B | $88.4M | ||
| Q3 25 | $1.5B | $77.9M | ||
| Q2 25 | $1.3B | $77.4M | ||
| Q1 25 | $1.1B | $83.0M | ||
| Q4 24 | $1.2B | $74.5M | ||
| Q3 24 | $1.3B | $82.6M | ||
| Q2 24 | $1.1B | $69.8M | ||
| Q1 24 | $1.0B | $64.0M |
净利润AWKOPAL
| Q4 25 | $238.0M | $16.2M | ||
| Q3 25 | $379.0M | $11.4M | ||
| Q2 25 | $289.0M | $7.6M | ||
| Q1 25 | $205.0M | $1.3M | ||
| Q4 24 | $239.0M | $-5.4M | ||
| Q3 24 | $350.0M | $17.1M | ||
| Q2 24 | $277.0M | $1.9M | ||
| Q1 24 | $185.0M | $677.0K |
营业利润率AWKOPAL
| Q4 25 | 31.9% | 7.5% | ||
| Q3 25 | 42.2% | 4.6% | ||
| Q2 25 | 38.4% | -1.1% | ||
| Q1 25 | 32.7% | -2.3% | ||
| Q4 24 | 33.3% | -0.5% | ||
| Q3 24 | 40.9% | 14.9% | ||
| Q2 24 | 39.4% | 8.1% | ||
| Q1 24 | 32.5% | 5.6% |
净利率AWKOPAL
| Q4 25 | 18.7% | 18.3% | ||
| Q3 25 | 26.1% | 14.6% | ||
| Q2 25 | 22.7% | 9.8% | ||
| Q1 25 | 18.1% | 1.5% | ||
| Q4 24 | 19.9% | -7.2% | ||
| Q3 24 | 26.4% | 20.7% | ||
| Q2 24 | 24.3% | 2.7% | ||
| Q1 24 | 18.4% | 1.1% |
每股收益（稀释后）AWKOPAL
| Q4 25 | $1.22 | $0.08 | ||
| Q3 25 | $1.94 | $0.05 | ||
| Q2 25 | $1.48 | $0.03 | ||
| Q1 25 | $1.05 | $-0.01 | ||
| Q4 24 | $1.22 | $-0.05 | ||
| Q3 24 | $1.80 | $0.09 | ||
| Q2 24 | $1.42 | $-0.01 | ||
| Q1 24 | $0.95 | $-0.01 |
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 | $24.4M |
| 总债务越低越好 | $12.8B | $361.3M |
| 股东权益账面价值 | $10.8B | $-12.9M |
| 总资产 | $35.4B | $959.5M |
| 负债/权益比越低杠杆越低 | 1.18× | — |
8季度趋势，按日历期对齐
现金及短期投资AWKOPAL
| Q4 25 | $98.0M | $24.4M | ||
| Q3 25 | $166.0M | $29.9M | ||
| Q2 25 | $94.0M | $29.3M | ||
| Q1 25 | $114.0M | $40.1M | ||
| Q4 24 | $96.0M | $24.3M | ||
| Q3 24 | $127.0M | $31.0M | ||
| Q2 24 | $48.0M | $27.6M | ||
| Q1 24 | $584.0M | $34.2M |
总债务AWKOPAL
| Q4 25 | $12.8B | $361.3M | ||
| Q3 25 | $13.0B | $351.2M | ||
| Q2 25 | $12.3B | $331.6M | ||
| Q1 25 | $13.3B | $307.0M | ||
| Q4 24 | $12.5B | $307.5M | ||
| Q3 24 | $12.6B | $252.9M | ||
| Q2 24 | $12.6B | $233.3M | ||
| Q1 24 | $12.6B | $208.7M |
股东权益AWKOPAL
| Q4 25 | $10.8B | $-12.9M | ||
| Q3 25 | $10.9B | $7.5M | ||
| Q2 25 | $10.7B | $-25.0M | ||
| Q1 25 | $10.5B | $57.1M | ||
| Q4 24 | $10.3B | $-148.4M | ||
| Q3 24 | $10.4B | $-180.1M | ||
| Q2 24 | $10.2B | $-273.0M | ||
| Q1 24 | $10.0B | $-382.4M |
总资产AWKOPAL
| Q4 25 | $35.4B | $959.5M | ||
| Q3 25 | $34.7B | $916.7M | ||
| Q2 25 | $33.9B | $905.5M | ||
| Q1 25 | $33.2B | $884.9M | ||
| Q4 24 | $32.8B | $881.1M | ||
| Q3 24 | $31.8B | $831.1M | ||
| Q2 24 | $31.2B | $782.3M | ||
| Q1 24 | $31.1B | $750.5M |
负债/权益比AWKOPAL
| Q4 25 | 1.18× | — | ||
| Q3 25 | 1.19× | 46.95× | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 1.26× | 5.38× | ||
| Q4 24 | 1.21× | — | ||
| Q3 24 | 1.21× | — | ||
| Q2 24 | 1.24× | — | ||
| Q1 24 | 1.26× | — |
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 | $-3.5M |
| 自由现金流经营现金流 - 资本支出 | $-385.0M | $-13.4M |
| 自由现金流率自由现金流/营收 | -30.3% | -15.1% |
| 资本支出强度资本支出/营收 | 82.5% | 11.1% |
| 现金转化率经营现金流/净利润 | 2.79× | -0.22× |
| 过去12个月自由现金流最近4个季度 | $-1.1B | $-34.2M |
8季度趋势，按日历期对齐
经营现金流AWKOPAL
| Q4 25 | $663.0M | $-3.5M | ||
| Q3 25 | $764.0M | $18.2M | ||
| Q2 25 | $301.0M | $-7.9M | ||
| Q1 25 | $331.0M | $29.7M | ||
| Q4 24 | $639.0M | $-532.0K | ||
| Q3 24 | $679.0M | $17.7M | ||
| Q2 24 | $345.0M | $533.0K | ||
| Q1 24 | $382.0M | $13.7M |
自由现金流AWKOPAL
| Q4 25 | $-385.0M | $-13.4M | ||
| Q3 25 | $-33.0M | $-9.3M | ||
| Q2 25 | $-432.0M | $-29.7M | ||
| Q1 25 | $-217.0M | $18.1M | ||
| Q4 24 | $-255.0M | $-55.0M | ||
| Q3 24 | $-4.0M | $-5.4M | ||
| Q2 24 | $-325.0M | $-22.5M | ||
| Q1 24 | $-227.0M | $-13.0M |
自由现金流率AWKOPAL
| Q4 25 | -30.3% | -15.1% | ||
| Q3 25 | -2.3% | -11.9% | ||
| Q2 25 | -34.0% | -38.4% | ||
| Q1 25 | -19.1% | 21.8% | ||
| Q4 24 | -21.2% | -73.8% | ||
| Q3 24 | -0.3% | -6.5% | ||
| Q2 24 | -28.5% | -32.2% | ||
| Q1 24 | -22.6% | -20.4% |
资本支出强度AWKOPAL
| Q4 25 | 82.5% | 11.1% | ||
| Q3 25 | 54.8% | 35.3% | ||
| Q2 25 | 57.6% | 28.2% | ||
| Q1 25 | 48.3% | 13.9% | ||
| Q4 24 | 74.4% | 73.1% | ||
| Q3 24 | 51.4% | 27.9% | ||
| Q2 24 | 58.8% | 32.9% | ||
| Q1 24 | 60.7% | 41.8% |
现金转化率AWKOPAL
| Q4 25 | 2.79× | -0.22× | ||
| Q3 25 | 2.02× | 1.60× | ||
| Q2 25 | 1.04× | -1.04× | ||
| Q1 25 | 1.61× | 23.11× | ||
| Q4 24 | 2.67× | — | ||
| Q3 24 | 1.94× | 1.03× | ||
| Q2 24 | 1.25× | 0.28× | ||
| Q1 24 | 2.06× | 20.26× |
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% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
