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American Water Works（AWK）与维蒙特工业（VMI）财务数据对比。点击上方公司名可切换其他公司
American Water Works的季度营收约是维蒙特工业的1.2倍（$1.3B vs $1.0B），American Water Works净利率更高（18.7% vs 10.5%，领先8.2%），维蒙特工业同比增速更快（6.2% vs 5.8%），过去两年American Water Works的营收复合增速更高（12.6% vs -0.5%）
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。
维蒙特工业是美国大型上市制造企业，核心产品包括Valley品牌中心支轴及线性灌溉设备、风电机组支撑结构、照明与交通信号灯杆、钢制公用设施杆塔，在全球农业设备及基建配套领域拥有领先的市场地位和技术优势。
AWK vs VMI — 直观对比
营收规模更大
AWK
是对方的1.2倍
$1.0B
营收增速更快
VMI
高出0.4%
5.8%
净利率更高
AWK
高出8.2%
10.5%
两年增速更快
AWK
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.0B |
| 净利润 | $238.0M | $108.0M |
| 毛利率 | — | 30.8% |
| 营业利润率 | 31.9% | 15.1% |
| 净利率 | 18.7% | 10.5% |
| 营收同比 | 5.8% | 6.2% |
| 净利润同比 | -0.4% | 23.8% |
| 每股收益（稀释后） | $1.22 | $5.51 |
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AWKVMI
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.3B | $1.0B | ||
| Q3 25 | $1.5B | $1.0B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.1B | $969.3M | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.3B | $1.0B | ||
| Q2 24 | $1.1B | $1.0B |
净利润AWKVMI
| Q1 26 | — | $108.0M | ||
| Q4 25 | $238.0M | $168.0M | ||
| Q3 25 | $379.0M | $99.0M | ||
| Q2 25 | $289.0M | $-4.0M | ||
| Q1 25 | $205.0M | $87.3M | ||
| Q4 24 | $239.0M | $77.7M | ||
| Q3 24 | $350.0M | $83.1M | ||
| Q2 24 | $277.0M | $99.7M |
毛利率AWKVMI
| Q1 26 | — | 30.8% | ||
| Q4 25 | — | 29.8% | ||
| Q3 25 | — | 30.4% | ||
| Q2 25 | — | 30.6% | ||
| Q1 25 | — | 30.0% | ||
| Q4 24 | — | 30.2% | ||
| Q3 24 | — | 29.6% | ||
| Q2 24 | — | 30.8% |
营业利润率AWKVMI
| Q1 26 | — | 15.1% | ||
| Q4 25 | 31.9% | 11.2% | ||
| Q3 25 | 42.2% | 13.5% | ||
| Q2 25 | 38.4% | 2.8% | ||
| Q1 25 | 32.7% | 13.2% | ||
| Q4 24 | 33.3% | 11.6% | ||
| Q3 24 | 40.9% | 12.3% | ||
| Q2 24 | 39.4% | 14.2% |
净利率AWKVMI
| Q1 26 | — | 10.5% | ||
| Q4 25 | 18.7% | 16.2% | ||
| Q3 25 | 26.1% | 9.5% | ||
| Q2 25 | 22.7% | -0.4% | ||
| Q1 25 | 18.1% | 9.0% | ||
| Q4 24 | 19.9% | 7.5% | ||
| Q3 24 | 26.4% | 8.1% | ||
| Q2 24 | 24.3% | 9.6% |
每股收益（稀释后）AWKVMI
| Q1 26 | — | $5.51 | ||
| Q4 25 | $1.22 | $9.02 | ||
| Q3 25 | $1.94 | $4.98 | ||
| Q2 25 | $1.48 | $-1.53 | ||
| Q1 25 | $1.05 | $4.32 | ||
| Q4 24 | $1.22 | $3.85 | ||
| Q3 24 | $1.80 | $4.11 | ||
| Q2 24 | $1.42 | $4.91 |
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 | $160.2M |
| 总债务越低越好 | $12.8B | — |
| 股东权益账面价值 | $10.8B | $1.7B |
| 总资产 | $35.4B | $3.4B |
| 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AWKVMI
| Q1 26 | — | $160.2M | ||
| Q4 25 | $98.0M | $187.1M | ||
| Q3 25 | $166.0M | $226.1M | ||
| Q2 25 | $94.0M | $208.5M | ||
| Q1 25 | $114.0M | $184.4M | ||
| Q4 24 | $96.0M | $164.3M | ||
| Q3 24 | $127.0M | $200.5M | ||
| Q2 24 | $48.0M | $163.1M |
总债务AWKVMI
| Q1 26 | — | — | ||
| Q4 25 | $12.8B | $795.7M | ||
| Q3 25 | $13.0B | — | ||
| Q2 25 | $12.3B | — | ||
| Q1 25 | $13.3B | — | ||
| Q4 24 | $12.5B | $730.6M | ||
| Q3 24 | $12.6B | — | ||
| Q2 24 | $12.6B | — |
股东权益AWKVMI
| Q1 26 | — | $1.7B | ||
| Q4 25 | $10.8B | $1.6B | ||
| Q3 25 | $10.9B | $1.6B | ||
| Q2 25 | $10.7B | $1.5B | ||
| Q1 25 | $10.5B | $1.6B | ||
| Q4 24 | $10.3B | $1.5B | ||
| Q3 24 | $10.4B | $1.5B | ||
| Q2 24 | $10.2B | $1.5B |
总资产AWKVMI
| Q1 26 | — | $3.4B | ||
| Q4 25 | $35.4B | $3.4B | ||
| Q3 25 | $34.7B | $3.4B | ||
| Q2 25 | $33.9B | $3.3B | ||
| Q1 25 | $33.2B | $3.4B | ||
| Q4 24 | $32.8B | $3.3B | ||
| Q3 24 | $31.8B | $3.5B | ||
| Q2 24 | $31.2B | $3.5B |
负债/权益比AWKVMI
| Q1 26 | — | — | ||
| Q4 25 | 1.18× | 0.49× | ||
| Q3 25 | 1.19× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 1.26× | — | ||
| Q4 24 | 1.21× | 0.47× | ||
| Q3 24 | 1.21× | — | ||
| Q2 24 | 1.24× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-385.0M | — |
| 自由现金流率自由现金流/营收 | -30.3% | — |
| 资本支出强度资本支出/营收 | 82.5% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流AWKVMI
| Q1 26 | — | — | ||
| Q4 25 | $663.0M | $111.2M | ||
| Q3 25 | $764.0M | $112.5M | ||
| Q2 25 | $301.0M | $167.6M | ||
| Q1 25 | $331.0M | $65.1M | ||
| Q4 24 | $639.0M | $193.4M | ||
| Q3 24 | $679.0M | $225.1M | ||
| Q2 24 | $345.0M | $130.8M |
自由现金流AWKVMI
| Q1 26 | — | — | ||
| Q4 25 | $-385.0M | $70.4M | ||
| Q3 25 | $-33.0M | $70.6M | ||
| Q2 25 | $-432.0M | $135.6M | ||
| Q1 25 | $-217.0M | $34.8M | ||
| Q4 24 | $-255.0M | $167.8M | ||
| Q3 24 | $-4.0M | $204.6M | ||
| Q2 24 | $-325.0M | $112.5M |
自由现金流率AWKVMI
| Q1 26 | — | — | ||
| Q4 25 | -30.3% | 6.8% | ||
| Q3 25 | -2.3% | 6.7% | ||
| Q2 25 | -34.0% | 12.9% | ||
| Q1 25 | -19.1% | 3.6% | ||
| Q4 24 | -21.2% | 16.2% | ||
| Q3 24 | -0.3% | 20.1% | ||
| Q2 24 | -28.5% | 10.8% |
资本支出强度AWKVMI
| Q1 26 | — | — | ||
| Q4 25 | 82.5% | 3.9% | ||
| Q3 25 | 54.8% | 4.0% | ||
| Q2 25 | 57.6% | 3.0% | ||
| Q1 25 | 48.3% | 3.1% | ||
| Q4 24 | 74.4% | 2.5% | ||
| Q3 24 | 51.4% | 2.0% | ||
| Q2 24 | 58.8% | 1.8% |
现金转化率AWKVMI
| Q1 26 | — | — | ||
| Q4 25 | 2.79× | 0.66× | ||
| Q3 25 | 2.02× | 1.14× | ||
| Q2 25 | 1.04× | — | ||
| Q1 25 | 1.61× | 0.75× | ||
| Q4 24 | 2.67× | 2.49× | ||
| Q3 24 | 1.94× | 2.71× | ||
| Q2 24 | 1.25× | 1.31× |
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% |
VMI
| Infrastructure | $803.2M | 78% |
| Agriculture | $226.0M | 22% |
