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American Water Works（AWK）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
American Water Works的季度营收约是利氏兄弟拍卖行的1.1倍（$1.3B vs $1.2B），American Water Works净利率更高（18.7% vs 9.1%，领先9.6%），American Water Works同比增速更快（5.8% vs 5.4%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $-385.0M），过去两年American Water Works的营收复合增速更高（12.6% vs 6.3%）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
AWK vs RBA — 直观对比
营收规模更大
AWK
是对方的1.1倍
$1.2B
营收增速更快
AWK
高出0.4%
5.4%
净利率更高
AWK
高出9.6%
9.1%
自由现金流更多
RBA
多$571.5M
$-385.0M
两年增速更快
AWK
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.2B |
| 净利润 | $238.0M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 31.9% | 14.7% |
| 净利率 | 18.7% | 9.1% |
| 营收同比 | 5.8% | 5.4% |
| 净利润同比 | -0.4% | -7.4% |
| 每股收益（稀释后） | $1.22 | $0.53 |
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AWKRBA
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.1B | $1.1B | ||
| Q4 24 | $1.2B | $1.1B | ||
| Q3 24 | $1.3B | $981.8M | ||
| Q2 24 | $1.1B | $1.1B | ||
| Q1 24 | $1.0B | $1.1B |
净利润AWKRBA
| Q4 25 | $238.0M | $109.7M | ||
| Q3 25 | $379.0M | $95.5M | ||
| Q2 25 | $289.0M | $109.8M | ||
| Q1 25 | $205.0M | $113.4M | ||
| Q4 24 | $239.0M | $118.5M | ||
| Q3 24 | $350.0M | $76.1M | ||
| Q2 24 | $277.0M | $111.1M | ||
| Q1 24 | $185.0M | $107.4M |
营业利润率AWKRBA
| Q4 25 | 31.9% | 14.7% | ||
| Q3 25 | 42.2% | 14.5% | ||
| Q2 25 | 38.4% | 15.9% | ||
| Q1 25 | 32.7% | 17.1% | ||
| Q4 24 | 33.3% | 18.1% | ||
| Q3 24 | 40.9% | 15.6% | ||
| Q2 24 | 39.4% | 18.4% | ||
| Q1 24 | 32.5% | 18.7% |
净利率AWKRBA
| Q4 25 | 18.7% | 9.1% | ||
| Q3 25 | 26.1% | 8.7% | ||
| Q2 25 | 22.7% | 9.3% | ||
| Q1 25 | 18.1% | 10.2% | ||
| Q4 24 | 19.9% | 10.4% | ||
| Q3 24 | 26.4% | 7.8% | ||
| Q2 24 | 24.3% | 10.1% | ||
| Q1 24 | 18.4% | 10.1% |
每股收益（稀释后）AWKRBA
| Q4 25 | $1.22 | $0.53 | ||
| Q3 25 | $1.94 | $0.43 | ||
| Q2 25 | $1.48 | $0.53 | ||
| Q1 25 | $1.05 | $0.55 | ||
| Q4 24 | $1.22 | $0.58 | ||
| Q3 24 | $1.80 | $0.36 | ||
| Q2 24 | $1.42 | $0.54 | ||
| Q1 24 | $0.95 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | $12.8B | $2.3B |
| 股东权益账面价值 | $10.8B | $5.6B |
| 总资产 | $35.4B | $12.1B |
| 负债/权益比越低杠杆越低 | 1.18× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资AWKRBA
| Q4 25 | $98.0M | $531.5M | ||
| Q3 25 | $166.0M | $674.7M | ||
| Q2 25 | $94.0M | $710.2M | ||
| Q1 25 | $114.0M | $578.1M | ||
| Q4 24 | $96.0M | $533.9M | ||
| Q3 24 | $127.0M | $650.7M | ||
| Q2 24 | $48.0M | $599.5M | ||
| Q1 24 | $584.0M | $462.8M |
总债务AWKRBA
| Q4 25 | $12.8B | $2.3B | ||
| Q3 25 | $13.0B | $2.6B | ||
| Q2 25 | $12.3B | $2.6B | ||
| Q1 25 | $13.3B | $2.6B | ||
| Q4 24 | $12.5B | $2.6B | ||
| Q3 24 | $12.6B | $2.7B | ||
| Q2 24 | $12.6B | $2.8B | ||
| Q1 24 | $12.6B | $2.9B |
股东权益AWKRBA
| Q4 25 | $10.8B | $5.6B | ||
| Q3 25 | $10.9B | $5.5B | ||
| Q2 25 | $10.7B | $5.5B | ||
| Q1 25 | $10.5B | $5.3B | ||
| Q4 24 | $10.3B | $5.2B | ||
| Q3 24 | $10.4B | $5.2B | ||
| Q2 24 | $10.2B | $5.2B | ||
| Q1 24 | $10.0B | $5.1B |
总资产AWKRBA
| Q4 25 | $35.4B | $12.1B | ||
| Q3 25 | $34.7B | $12.2B | ||
| Q2 25 | $33.9B | $12.2B | ||
| Q1 25 | $33.2B | $11.9B | ||
| Q4 24 | $32.8B | $11.8B | ||
| Q3 24 | $31.8B | $11.9B | ||
| Q2 24 | $31.2B | $12.1B | ||
| Q1 24 | $31.1B | $12.0B |
负债/权益比AWKRBA
| Q4 25 | 1.18× | 0.42× | ||
| Q3 25 | 1.19× | 0.47× | ||
| Q2 25 | 1.15× | 0.47× | ||
| Q1 25 | 1.26× | 0.50× | ||
| Q4 24 | 1.21× | 0.50× | ||
| Q3 24 | 1.21× | 0.52× | ||
| Q2 24 | 1.24× | 0.55× | ||
| Q1 24 | 1.26× | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $-385.0M | $186.5M |
| 自由现金流率自由现金流/营收 | -30.3% | 15.5% |
| 资本支出强度资本支出/营收 | 82.5% | 5.7% |
| 现金转化率经营现金流/净利润 | 2.79× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $-1.1B | $719.2M |
8季度趋势，按日历期对齐
经营现金流AWKRBA
| Q4 25 | $663.0M | $255.2M | ||
| Q3 25 | $764.0M | $239.7M | ||
| Q2 25 | $301.0M | $326.5M | ||
| Q1 25 | $331.0M | $156.8M | ||
| Q4 24 | $639.0M | $184.5M | ||
| Q3 24 | $679.0M | $285.4M | ||
| Q2 24 | $345.0M | $337.3M | ||
| Q1 24 | $382.0M | $124.8M |
自由现金流AWKRBA
| Q4 25 | $-385.0M | $186.5M | ||
| Q3 25 | $-33.0M | $188.5M | ||
| Q2 25 | $-432.0M | $241.7M | ||
| Q1 25 | $-217.0M | $102.5M | ||
| Q4 24 | $-255.0M | $127.9M | ||
| Q3 24 | $-4.0M | $248.5M | ||
| Q2 24 | $-325.0M | $308.6M | ||
| Q1 24 | $-227.0M | $79.6M |
自由现金流率AWKRBA
| Q4 25 | -30.3% | 15.5% | ||
| Q3 25 | -2.3% | 17.3% | ||
| Q2 25 | -34.0% | 20.4% | ||
| Q1 25 | -19.1% | 9.2% | ||
| Q4 24 | -21.2% | 11.2% | ||
| Q3 24 | -0.3% | 25.3% | ||
| Q2 24 | -28.5% | 28.2% | ||
| Q1 24 | -22.6% | 7.5% |
资本支出强度AWKRBA
| Q4 25 | 82.5% | 5.7% | ||
| Q3 25 | 54.8% | 4.7% | ||
| Q2 25 | 57.6% | 7.2% | ||
| Q1 25 | 48.3% | 4.9% | ||
| Q4 24 | 74.4% | 5.0% | ||
| Q3 24 | 51.4% | 3.8% | ||
| Q2 24 | 58.8% | 2.6% | ||
| Q1 24 | 60.7% | 4.2% |
现金转化率AWKRBA
| Q4 25 | 2.79× | 2.33× | ||
| Q3 25 | 2.02× | 2.51× | ||
| Q2 25 | 1.04× | 2.97× | ||
| Q1 25 | 1.61× | 1.38× | ||
| Q4 24 | 2.67× | 1.56× | ||
| Q3 24 | 1.94× | 3.75× | ||
| Q2 24 | 1.25× | 3.04× | ||
| Q1 24 | 2.06× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
