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AMERICAN STATES WATER CO（AWR）与PATHWARD FINANCIAL, INC.（CASH）财务数据对比。点击上方公司名可切换其他公司
PATHWARD FINANCIAL, INC.的季度营收约是AMERICAN STATES WATER CO的1.7倍（$276.3M vs $164.3M），PATHWARD FINANCIAL, INC.净利率更高（26.4% vs 17.5%，领先8.9%），过去两年PATHWARD FINANCIAL, INC.的营收复合增速更高（21.0% vs 10.2%）
美国州水公司是美国的上市公用事业企业，通过旗下子公司在全美范围内提供自来水供应及污水处理相关服务，服务覆盖居民、商业及公共机构等多元客户群体，是当地水务服务领域的重要参与企业。
Pathward Financial, Inc.是一家总部位于美国的银行及金融服务企业，其前身为Meta金融集团旗下相关业务主体，2022年母公司将“Meta”商标出售给Meta Platforms后，正式启用现有名称。
AWR vs CASH — 直观对比
营收规模更大
CASH
是对方的1.7倍
$164.3M
净利率更高
CASH
高出8.9%
17.5%
两年增速更快
CASH
近两年复合增速
10.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $164.3M | $276.3M |
| 净利润 | $28.7M | $72.9M |
| 毛利率 | 88.9% | — |
| 营业利润率 | 27.4% | — |
| 净利率 | 17.5% | 26.4% |
| 营收同比 | 14.8% | — |
| 净利润同比 | 1.1% | — |
| 每股收益（稀释后） | $0.74 | $3.35 |
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AWRCASH
| Q1 26 | — | $276.3M | ||
| Q4 25 | $164.3M | $173.1M | ||
| Q3 25 | $182.7M | $186.7M | ||
| Q2 25 | $163.1M | $195.8M | ||
| Q1 25 | $148.0M | $274.8M | ||
| Q4 24 | $143.1M | $182.6M | ||
| Q3 24 | $161.8M | $179.5M | ||
| Q2 24 | $155.3M | $188.6M |
净利润AWRCASH
| Q1 26 | — | $72.9M | ||
| Q4 25 | $28.7M | $35.2M | ||
| Q3 25 | $41.2M | $38.8M | ||
| Q2 25 | $33.7M | $42.1M | ||
| Q1 25 | $26.8M | $75.0M | ||
| Q4 24 | $28.4M | $30.0M | ||
| Q3 24 | $35.8M | $33.5M | ||
| Q2 24 | $31.9M | $44.9M |
毛利率AWRCASH
| Q1 26 | — | — | ||
| Q4 25 | 88.9% | — | ||
| Q3 25 | 91.0% | — | ||
| Q2 25 | 92.1% | — | ||
| Q1 25 | 91.3% | — | ||
| Q4 24 | 92.4% | — | ||
| Q3 24 | 92.7% | — | ||
| Q2 24 | 89.6% | — |
营业利润率AWRCASH
| Q1 26 | — | — | ||
| Q4 25 | 27.4% | 24.6% | ||
| Q3 25 | 33.8% | 25.9% | ||
| Q2 25 | 31.3% | 24.1% | ||
| Q1 25 | 30.8% | 33.2% | ||
| Q4 24 | 27.0% | 19.8% | ||
| Q3 24 | 34.0% | 20.9% | ||
| Q2 24 | 33.3% | 27.1% |
净利率AWRCASH
| Q1 26 | — | 26.4% | ||
| Q4 25 | 17.5% | 20.3% | ||
| Q3 25 | 22.5% | 20.8% | ||
| Q2 25 | 20.7% | 21.5% | ||
| Q1 25 | 18.1% | 27.3% | ||
| Q4 24 | 19.9% | 16.4% | ||
| Q3 24 | 22.1% | 18.7% | ||
| Q2 24 | 20.5% | 23.8% |
每股收益（稀释后）AWRCASH
| Q1 26 | — | $3.35 | ||
| Q4 25 | $0.74 | $1.57 | ||
| Q3 25 | $1.06 | $1.69 | ||
| Q2 25 | $0.87 | $1.81 | ||
| Q1 25 | $0.70 | $3.14 | ||
| Q4 24 | $0.75 | $1.23 | ||
| Q3 24 | $0.95 | $1.34 | ||
| Q2 24 | $0.85 | $1.78 |
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 | $18.8M | $157.6M |
| 总债务越低越好 | $782.7M | $59.5M |
| 股东权益账面价值 | $1.0B | $850.7M |
| 总资产 | $2.7B | $7.1B |
| 负债/权益比越低杠杆越低 | 0.75× | 0.07× |
8季度趋势，按日历期对齐
现金及短期投资AWRCASH
| Q1 26 | — | $157.6M | ||
| Q4 25 | $18.8M | $331.2M | ||
| Q3 25 | $26.1M | $120.6M | ||
| Q2 25 | $20.2M | $258.3M | ||
| Q1 25 | $21.2M | $254.2M | ||
| Q4 24 | $26.7M | $597.4M | ||
| Q3 24 | $16.5M | $158.3M | ||
| Q2 24 | $3.6M | $298.9M |
总债务AWRCASH
| Q1 26 | — | $59.5M | ||
| Q4 25 | $782.7M | $33.5M | ||
| Q3 25 | — | $33.5M | ||
| Q2 25 | — | $33.4M | ||
| Q1 25 | — | $33.4M | ||
| Q4 24 | $640.4M | $33.4M | ||
| Q3 24 | — | $33.4M | ||
| Q2 24 | — | $33.3M |
股东权益AWRCASH
| Q1 26 | — | $850.7M | ||
| Q4 25 | $1.0B | $854.5M | ||
| Q3 25 | $1.0B | $858.0M | ||
| Q2 25 | $972.5M | $819.0M | ||
| Q1 25 | $956.4M | $814.7M | ||
| Q4 24 | $920.1M | $758.3M | ||
| Q3 24 | $879.5M | $822.5M | ||
| Q2 24 | $833.5M | $748.4M |
总资产AWRCASH
| Q1 26 | — | $7.1B | ||
| Q4 25 | $2.7B | $7.6B | ||
| Q3 25 | $2.7B | $7.2B | ||
| Q2 25 | $2.6B | $7.2B | ||
| Q1 25 | $2.5B | $7.0B | ||
| Q4 24 | $2.5B | $7.6B | ||
| Q3 24 | $2.4B | $7.5B | ||
| Q2 24 | $2.3B | $7.5B |
负债/权益比AWRCASH
| Q1 26 | — | 0.07× | ||
| Q4 25 | 0.75× | 0.04× | ||
| Q3 25 | — | 0.04× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | 0.70× | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.04× |
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 | $27.7M | — |
| 自由现金流经营现金流 - 资本支出 | $-36.0M | — |
| 自由现金流率自由现金流/营收 | -21.9% | — |
| 资本支出强度资本支出/营收 | 38.8% | — |
| 现金转化率经营现金流/净利润 | 0.96× | — |
| 过去12个月自由现金流最近4个季度 | $-7.1M | — |
8季度趋势，按日历期对齐
经营现金流AWRCASH
| Q1 26 | — | — | ||
| Q4 25 | $27.7M | $108.3M | ||
| Q3 25 | $92.4M | $303.7M | ||
| Q2 25 | $64.6M | $30.4M | ||
| Q1 25 | $45.1M | $188.3M | ||
| Q4 24 | $64.5M | $-71.7M | ||
| Q3 24 | $63.7M | $143.1M | ||
| Q2 24 | $24.7M | $113.2M |
自由现金流AWRCASH
| Q1 26 | — | — | ||
| Q4 25 | $-36.0M | $104.1M | ||
| Q3 25 | $37.7M | $300.3M | ||
| Q2 25 | $13.7M | $27.7M | ||
| Q1 25 | $-22.5M | $184.7M | ||
| Q4 24 | $6.0M | $-73.8M | ||
| Q3 24 | $-478.0K | $138.8M | ||
| Q2 24 | $-37.0M | $111.0M |
自由现金流率AWRCASH
| Q1 26 | — | — | ||
| Q4 25 | -21.9% | 60.1% | ||
| Q3 25 | 20.7% | 160.9% | ||
| Q2 25 | 8.4% | 14.1% | ||
| Q1 25 | -15.2% | 67.2% | ||
| Q4 24 | 4.2% | -40.4% | ||
| Q3 24 | -0.3% | 77.3% | ||
| Q2 24 | -23.8% | 58.8% |
资本支出强度AWRCASH
| Q1 26 | — | — | ||
| Q4 25 | 38.8% | 2.4% | ||
| Q3 25 | 29.9% | 1.8% | ||
| Q2 25 | 31.2% | 1.4% | ||
| Q1 25 | 45.6% | 1.3% | ||
| Q4 24 | 40.9% | 1.1% | ||
| Q3 24 | 39.7% | 2.4% | ||
| Q2 24 | 39.8% | 1.2% |
现金转化率AWRCASH
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | 3.08× | ||
| Q3 25 | 2.24× | 7.83× | ||
| Q2 25 | 1.92× | 0.72× | ||
| Q1 25 | 1.68× | 2.51× | ||
| Q4 24 | 2.27× | -2.39× | ||
| Q3 24 | 1.78× | 4.27× | ||
| Q2 24 | 0.78× | 2.52× |
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
AWR
| Water Service Utility Operations | $110.0M | 67% |
| Public Utilities Inventory Water | $22.3M | 14% |
| Wastewater | $15.9M | 10% |
| Electric Service Utility Operations | $15.2M | 9% |
CASH
| Noninterest Income | $151.2M | 55% |
| Net Interest Income | $125.1M | 45% |
