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AMERICAN STATES WATER CO（AWR）与CSW INDUSTRIALS, INC.（CSW）财务数据对比。点击上方公司名可切换其他公司
CSW INDUSTRIALS, INC.的季度营收约是AMERICAN STATES WATER CO的1.4倍（$233.0M vs $164.3M），AMERICAN STATES WATER CO净利率更高（17.5% vs 4.4%，领先13.1%），CSW INDUSTRIALS, INC.同比增速更快（20.3% vs 14.8%），CSW INDUSTRIALS, INC.自由现金流更多（$22.7M vs $-36.0M），过去两年AMERICAN STATES WATER CO的营收复合增速更高（10.2% vs 5.1%）
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。
AWR vs CSW — 直观对比
营收规模更大
CSW
是对方的1.4倍
$164.3M
营收增速更快
CSW
高出5.5%
14.8%
净利率更高
AWR
高出13.1%
4.4%
自由现金流更多
CSW
多$58.7M
$-36.0M
两年增速更快
AWR
近两年复合增速
5.1%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $164.3M | $233.0M |
| 净利润 | $28.7M | $10.3M |
| 毛利率 | 88.9% | 39.7% |
| 营业利润率 | 27.4% | 7.4% |
| 净利率 | 17.5% | 4.4% |
| 营收同比 | 14.8% | 20.3% |
| 净利润同比 | 1.1% | -61.9% |
| 每股收益（稀释后） | $0.74 | $0.62 |
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AWRCSW
| Q4 25 | $164.3M | $233.0M | ||
| Q3 25 | $182.7M | $277.0M | ||
| Q2 25 | $163.1M | $263.6M | ||
| Q1 25 | $148.0M | $230.5M | ||
| Q4 24 | $143.1M | $193.6M | ||
| Q3 24 | $161.8M | $227.9M | ||
| Q2 24 | $155.3M | $226.2M | ||
| Q1 24 | $135.3M | $210.9M |
净利润AWRCSW
| Q4 25 | $28.7M | $10.3M | ||
| Q3 25 | $41.2M | $40.7M | ||
| Q2 25 | $33.7M | $40.9M | ||
| Q1 25 | $26.8M | $35.1M | ||
| Q4 24 | $28.4M | $26.9M | ||
| Q3 24 | $35.8M | $36.1M | ||
| Q2 24 | $31.9M | $38.6M | ||
| Q1 24 | $23.1M | $31.8M |
毛利率AWRCSW
| Q4 25 | 88.9% | 39.7% | ||
| Q3 25 | 91.0% | 43.0% | ||
| Q2 25 | 92.1% | 43.8% | ||
| Q1 25 | 91.3% | 44.2% | ||
| Q4 24 | 92.4% | 41.4% | ||
| Q3 24 | 92.7% | 45.6% | ||
| Q2 24 | 89.6% | 47.5% | ||
| Q1 24 | 88.4% | 44.4% |
营业利润率AWRCSW
| Q4 25 | 27.4% | 7.4% | ||
| Q3 25 | 33.8% | 20.5% | ||
| Q2 25 | 31.3% | 20.8% | ||
| Q1 25 | 30.8% | 19.5% | ||
| Q4 24 | 27.0% | 15.3% | ||
| Q3 24 | 34.0% | 22.6% | ||
| Q2 24 | 33.3% | 24.3% | ||
| Q1 24 | 28.8% | 21.0% |
净利率AWRCSW
| Q4 25 | 17.5% | 4.4% | ||
| Q3 25 | 22.5% | 14.7% | ||
| Q2 25 | 20.7% | 15.5% | ||
| Q1 25 | 18.1% | 15.2% | ||
| Q4 24 | 19.9% | 13.9% | ||
| Q3 24 | 22.1% | 15.8% | ||
| Q2 24 | 20.5% | 17.1% | ||
| Q1 24 | 17.1% | 15.1% |
每股收益（稀释后）AWRCSW
| Q4 25 | $0.74 | $0.62 | ||
| Q3 25 | $1.06 | $2.41 | ||
| Q2 25 | $0.87 | $2.43 | ||
| Q1 25 | $0.70 | $2.05 | ||
| Q4 24 | $0.75 | $1.60 | ||
| Q3 24 | $0.95 | $2.26 | ||
| Q2 24 | $0.85 | $2.47 | ||
| Q1 24 | $0.62 | $2.03 |
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 | $40.2M |
| 总债务越低越好 | $782.7M | — |
| 股东权益账面价值 | $1.0B | $1.1B |
| 总资产 | $2.7B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.75× | — |
8季度趋势，按日历期对齐
现金及短期投资AWRCSW
| Q4 25 | $18.8M | $40.2M | ||
| Q3 25 | $26.1M | $31.5M | ||
| Q2 25 | $20.2M | $38.0M | ||
| Q1 25 | $21.2M | $225.8M | ||
| Q4 24 | $26.7M | $213.8M | ||
| Q3 24 | $16.5M | $273.2M | ||
| Q2 24 | $3.6M | $18.9M | ||
| Q1 24 | $17.0M | $22.2M |
总债务AWRCSW
| Q4 25 | $782.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $800.1M | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $166.0M |
股东权益AWRCSW
| Q4 25 | $1.0B | $1.1B | ||
| Q3 25 | $1.0B | $1.1B | ||
| Q2 25 | $972.5M | $1.1B | ||
| Q1 25 | $956.4M | $1.1B | ||
| Q4 24 | $920.1M | $1.0B | ||
| Q3 24 | $879.5M | $1.0B | ||
| Q2 24 | $833.5M | $650.2M | ||
| Q1 24 | $800.5M | $615.7M |
总资产AWRCSW
| Q4 25 | $2.7B | $2.3B | ||
| Q3 25 | $2.7B | $1.5B | ||
| Q2 25 | $2.6B | $1.5B | ||
| Q1 25 | $2.5B | $1.4B | ||
| Q4 24 | $2.5B | $1.4B | ||
| Q3 24 | $2.4B | $1.4B | ||
| Q2 24 | $2.3B | $1.1B | ||
| Q1 24 | $2.3B | $1.0B |
负债/权益比AWRCSW
| Q4 25 | 0.75× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.27× |
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 | $28.9M |
| 自由现金流经营现金流 - 资本支出 | $-36.0M | $22.7M |
| 自由现金流率自由现金流/营收 | -21.9% | 9.8% |
| 资本支出强度资本支出/营收 | 38.8% | 2.6% |
| 现金转化率经营现金流/净利润 | 0.96× | 2.81× |
| 过去12个月自由现金流最近4个季度 | $-7.1M | $162.0M |
8季度趋势，按日历期对齐
经营现金流AWRCSW
| Q4 25 | $27.7M | $28.9M | ||
| Q3 25 | $92.4M | $61.8M | ||
| Q2 25 | $64.6M | $60.6M | ||
| Q1 25 | $45.1M | $27.3M | ||
| Q4 24 | $64.5M | $11.6M | ||
| Q3 24 | $63.7M | $66.8M | ||
| Q2 24 | $24.7M | $62.7M | ||
| Q1 24 | $45.8M | $22.4M |
自由现金流AWRCSW
| Q4 25 | $-36.0M | $22.7M | ||
| Q3 25 | $37.7M | $58.7M | ||
| Q2 25 | $13.7M | $57.7M | ||
| Q1 25 | $-22.5M | $22.8M | ||
| Q4 24 | $6.0M | $8.5M | ||
| Q3 24 | $-478.0K | $61.3M | ||
| Q2 24 | $-37.0M | $59.6M | ||
| Q1 24 | $-1.7M | $17.5M |
自由现金流率AWRCSW
| Q4 25 | -21.9% | 9.8% | ||
| Q3 25 | 20.7% | 21.2% | ||
| Q2 25 | 8.4% | 21.9% | ||
| Q1 25 | -15.2% | 9.9% | ||
| Q4 24 | 4.2% | 4.4% | ||
| Q3 24 | -0.3% | 26.9% | ||
| Q2 24 | -23.8% | 26.3% | ||
| Q1 24 | -1.3% | 8.3% |
资本支出强度AWRCSW
| Q4 25 | 38.8% | 2.6% | ||
| Q3 25 | 29.9% | 1.1% | ||
| Q2 25 | 31.2% | 1.1% | ||
| Q1 25 | 45.6% | 2.0% | ||
| Q4 24 | 40.9% | 1.6% | ||
| Q3 24 | 39.7% | 2.4% | ||
| Q2 24 | 39.8% | 1.4% | ||
| Q1 24 | 35.2% | 2.3% |
现金转化率AWRCSW
| Q4 25 | 0.96× | 2.81× | ||
| Q3 25 | 2.24× | 1.52× | ||
| Q2 25 | 1.92× | 1.48× | ||
| Q1 25 | 1.68× | 0.78× | ||
| Q4 24 | 2.27× | 0.43× | ||
| Q3 24 | 1.78× | 1.85× | ||
| Q2 24 | 0.78× | 1.62× | ||
| Q1 24 | 1.98× | 0.71× |
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% |
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
