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American Water Works（AWK）与Southwest Gas Holdings, Inc.（SWX）财务数据对比。点击上方公司名可切换其他公司
American Water Works净利率更高（18.7% vs -8.6%，领先27.3%）。American Water Works同比增速更快（5.8% vs -162.5%）。Southwest Gas Holdings, Inc.自由现金流更多（$-155.9M vs $-385.0M）。过去两年Southwest Gas Holdings, Inc.的营收复合增速更高（NaN% vs NaN%）
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。
西南燃气控股是一家投资者所有的公用事业企业，总部位于美国内华达州拉斯维加斯，主要开展燃气供应等相关公用事业服务，运营体系成熟稳定，在其服务覆盖区域拥有良好的市场口碑与客户基础。
AWK vs SWX — 直观对比
营收规模更大
AWK
是对方的-1.6倍
$-793.4M
营收增速更快
AWK
高出168.3%
-162.5%
净利率更高
AWK
高出27.3%
-8.6%
自由现金流更多
SWX
多$229.1M
$-385.0M
两年增速更快
SWX
近两年复合增速
12.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $-793.4M |
| 净利润 | $238.0M | $68.4M |
| 毛利率 | — | — |
| 营业利润率 | 31.9% | — |
| 净利率 | 18.7% | -8.6% |
| 营收同比 | 5.8% | -162.5% |
| 净利润同比 | -0.4% | -26.1% |
| 每股收益（稀释后） | $1.22 | $0.94 |
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AWKSWX
| Q4 25 | $1.3B | $-793.4M | ||
| Q3 25 | $1.5B | $316.9M | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.3B | $1.1B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.0B | $1.6B |
净利润AWKSWX
| Q4 25 | $238.0M | $68.4M | ||
| Q3 25 | $379.0M | $270.5M | ||
| Q2 25 | $289.0M | $-12.9M | ||
| Q1 25 | $205.0M | $113.9M | ||
| Q4 24 | $239.0M | $92.5M | ||
| Q3 24 | $350.0M | $289.0K | ||
| Q2 24 | $277.0M | $18.3M | ||
| Q1 24 | $185.0M | $87.7M |
毛利率AWKSWX
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 41.3% | ||
| Q1 25 | — | 59.2% | ||
| Q4 24 | — | 48.8% | ||
| Q3 24 | — | 40.2% | ||
| Q2 24 | — | 48.9% | ||
| Q1 24 | — | 67.4% |
营业利润率AWKSWX
| Q4 25 | 31.9% | — | ||
| Q3 25 | 42.2% | 11.7% | ||
| Q2 25 | 38.4% | 8.5% | ||
| Q1 25 | 32.7% | 15.5% | ||
| Q4 24 | 33.3% | 14.2% | ||
| Q3 24 | 40.9% | 5.7% | ||
| Q2 24 | 39.4% | 7.0% | ||
| Q1 24 | 32.5% | 10.0% |
净利率AWKSWX
| Q4 25 | 18.7% | -8.6% | ||
| Q3 25 | 26.1% | 85.3% | ||
| Q2 25 | 22.7% | -1.1% | ||
| Q1 25 | 18.1% | 8.8% | ||
| Q4 24 | 19.9% | 7.3% | ||
| Q3 24 | 26.4% | 0.0% | ||
| Q2 24 | 24.3% | 1.6% | ||
| Q1 24 | 18.4% | 5.5% |
每股收益（稀释后）AWKSWX
| Q4 25 | $1.22 | $0.94 | ||
| Q3 25 | $1.94 | $3.74 | ||
| Q2 25 | $1.48 | $-0.18 | ||
| Q1 25 | $1.05 | $1.58 | ||
| Q4 24 | $1.22 | $1.29 | ||
| Q3 24 | $1.80 | $0.00 | ||
| Q2 24 | $1.42 | $0.25 | ||
| Q1 24 | $0.95 | $1.22 |
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 | $576.6M |
| 总债务越低越好 | $12.8B | — |
| 股东权益账面价值 | $10.8B | $4.0B |
| 总资产 | $35.4B | $10.4B |
| 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AWKSWX
| Q4 25 | $98.0M | $576.6M | ||
| Q3 25 | $166.0M | $778.6M | ||
| Q2 25 | $94.0M | $355.6M | ||
| Q1 25 | $114.0M | $406.3M | ||
| Q4 24 | $96.0M | $363.8M | ||
| Q3 24 | $127.0M | $456.6M | ||
| Q2 24 | $48.0M | $599.6M | ||
| Q1 24 | $584.0M | $458.0M |
总债务AWKSWX
| Q4 25 | $12.8B | — | ||
| Q3 25 | $13.0B | — | ||
| Q2 25 | $12.3B | — | ||
| Q1 25 | $13.3B | — | ||
| Q4 24 | $12.5B | — | ||
| Q3 24 | $12.6B | — | ||
| Q2 24 | $12.6B | — | ||
| Q1 24 | $12.6B | — |
股东权益AWKSWX
| Q4 25 | $10.8B | $4.0B | ||
| Q3 25 | $10.9B | $3.9B | ||
| Q2 25 | $10.7B | $3.7B | ||
| Q1 25 | $10.5B | $3.6B | ||
| Q4 24 | $10.3B | $3.5B | ||
| Q3 24 | $10.4B | $3.5B | ||
| Q2 24 | $10.2B | $3.5B | ||
| Q1 24 | $10.0B | $3.4B |
总资产AWKSWX
| Q4 25 | $35.4B | $10.4B | ||
| Q3 25 | $34.7B | $10.3B | ||
| Q2 25 | $33.9B | $12.2B | ||
| Q1 25 | $33.2B | $12.1B | ||
| Q4 24 | $32.8B | $12.0B | ||
| Q3 24 | $31.8B | $11.9B | ||
| Q2 24 | $31.2B | $12.0B | ||
| Q1 24 | $31.1B | $11.9B |
负债/权益比AWKSWX
| Q4 25 | 1.18× | — | ||
| Q3 25 | 1.19× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 1.26× | — | ||
| 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 | $81.6M |
| 自由现金流经营现金流 - 资本支出 | $-385.0M | $-155.9M |
| 自由现金流率自由现金流/营收 | -30.3% | 19.7% |
| 资本支出强度资本支出/营收 | 82.5% | -29.9% |
| 现金转化率经营现金流/净利润 | 2.79× | 1.19× |
| 过去12个月自由现金流最近4个季度 | $-1.1B | $-251.8M |
8季度趋势，按日历期对齐
经营现金流AWKSWX
| Q4 25 | $663.0M | $81.6M | ||
| Q3 25 | $764.0M | $56.9M | ||
| Q2 25 | $301.0M | $126.3M | ||
| Q1 25 | $331.0M | $291.3M | ||
| Q4 24 | $639.0M | $201.4M | ||
| Q3 24 | $679.0M | $304.1M | ||
| Q2 24 | $345.0M | $306.6M | ||
| Q1 24 | $382.0M | $543.7M |
自由现金流AWKSWX
| Q4 25 | $-385.0M | $-155.9M | ||
| Q3 25 | $-33.0M | $-105.8M | ||
| Q2 25 | $-432.0M | $-93.8M | ||
| Q1 25 | $-217.0M | $103.8M | ||
| Q4 24 | $-255.0M | $-34.7M | ||
| Q3 24 | $-4.0M | $38.7M | ||
| Q2 24 | $-325.0M | $83.3M | ||
| Q1 24 | $-227.0M | $322.5M |
自由现金流率AWKSWX
| Q4 25 | -30.3% | 19.7% | ||
| Q3 25 | -2.3% | -33.4% | ||
| Q2 25 | -34.0% | -8.4% | ||
| Q1 25 | -19.1% | 8.0% | ||
| Q4 24 | -21.2% | -2.7% | ||
| Q3 24 | -0.3% | 3.6% | ||
| Q2 24 | -28.5% | 7.0% | ||
| Q1 24 | -22.6% | 20.4% |
资本支出强度AWKSWX
| Q4 25 | 82.5% | -29.9% | ||
| Q3 25 | 54.8% | 51.3% | ||
| Q2 25 | 57.6% | 19.6% | ||
| Q1 25 | 48.3% | 14.5% | ||
| Q4 24 | 74.4% | 18.6% | ||
| Q3 24 | 51.4% | 24.6% | ||
| Q2 24 | 58.8% | 18.9% | ||
| Q1 24 | 60.7% | 14.0% |
现金转化率AWKSWX
| Q4 25 | 2.79× | 1.19× | ||
| Q3 25 | 2.02× | 0.21× | ||
| Q2 25 | 1.04× | — | ||
| Q1 25 | 1.61× | 2.56× | ||
| Q4 24 | 2.67× | 2.18× | ||
| Q3 24 | 1.94× | 1052.08× | ||
| Q2 24 | 1.25× | 16.72× | ||
| Q1 24 | 2.06× | 6.20× |
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% |
SWX
暂无分部数据
