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AMERICAN STATES WATER CO（AWR）与Ecovyst Inc.（ECVT）财务数据对比。点击上方公司名可切换其他公司
Ecovyst Inc.的季度营收约是AMERICAN STATES WATER CO的1.2倍（$199.4M vs $164.3M），Ecovyst Inc.同比增速更快（34.0% vs 14.8%），Ecovyst Inc.自由现金流更多（$22.9M vs $-36.0M），过去两年Ecovyst Inc.的营收复合增速更高（18.7% 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。
Ecovyst Inc.是一家全球可持续特种材料供应商，主营高性能催化剂与功能性添加剂的研发、生产，产品服务覆盖工业制造、消费品、环保等核心领域，助力全球客户提升运营效率、降低碳排放。
AWR vs ECVT — 直观对比
营收规模更大
ECVT
是对方的1.2倍
$164.3M
营收增速更快
ECVT
高出19.2%
14.8%
自由现金流更多
ECVT
多$58.9M
$-36.0M
两年增速更快
ECVT
近两年复合增速
10.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $164.3M | $199.4M |
| 净利润 | $28.7M | — |
| 毛利率 | 88.9% | 23.4% |
| 营业利润率 | 27.4% | 10.9% |
| 净利率 | 17.5% | — |
| 营收同比 | 14.8% | 34.0% |
| 净利润同比 | 1.1% | — |
| 每股收益（稀释后） | $0.74 | $0.06 |
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AWRECVT
| Q4 25 | $164.3M | $199.4M | ||
| Q3 25 | $182.7M | $204.9M | ||
| Q2 25 | $163.1M | $176.1M | ||
| Q1 25 | $148.0M | $143.1M | ||
| Q4 24 | $143.1M | $148.9M | ||
| Q3 24 | $161.8M | $153.9M | ||
| Q2 24 | $155.3M | $154.0M | ||
| Q1 24 | $135.3M | $141.6M |
净利润AWRECVT
| Q4 25 | $28.7M | — | ||
| Q3 25 | $41.2M | $-79.3M | ||
| Q2 25 | $33.7M | $6.0M | ||
| Q1 25 | $26.8M | $-3.6M | ||
| Q4 24 | $28.4M | — | ||
| Q3 24 | $35.8M | $14.3M | ||
| Q2 24 | $31.9M | $8.3M | ||
| Q1 24 | $23.1M | $1.2M |
毛利率AWRECVT
| Q4 25 | 88.9% | 23.4% | ||
| Q3 25 | 91.0% | 25.4% | ||
| Q2 25 | 92.1% | 22.8% | ||
| Q1 25 | 91.3% | 13.3% | ||
| Q4 24 | 92.4% | 28.9% | ||
| Q3 24 | 92.7% | 29.3% | ||
| Q2 24 | 89.6% | 27.3% | ||
| Q1 24 | 88.4% | 23.5% |
营业利润率AWRECVT
| Q4 25 | 27.4% | 10.9% | ||
| Q3 25 | 33.8% | 13.8% | ||
| Q2 25 | 31.3% | 9.0% | ||
| Q1 25 | 30.8% | -0.7% | ||
| Q4 24 | 27.0% | 15.1% | ||
| Q3 24 | 34.0% | 17.9% | ||
| Q2 24 | 33.3% | 14.1% | ||
| Q1 24 | 28.8% | 9.5% |
净利率AWRECVT
| Q4 25 | 17.5% | — | ||
| Q3 25 | 22.5% | -38.7% | ||
| Q2 25 | 20.7% | 3.4% | ||
| Q1 25 | 18.1% | -2.5% | ||
| Q4 24 | 19.9% | — | ||
| Q3 24 | 22.1% | 9.3% | ||
| Q2 24 | 20.5% | 5.4% | ||
| Q1 24 | 17.1% | 0.9% |
每股收益（稀释后）AWRECVT
| Q4 25 | $0.74 | $0.06 | ||
| Q3 25 | $1.06 | $-0.69 | ||
| Q2 25 | $0.87 | $0.05 | ||
| Q1 25 | $0.70 | $-0.03 | ||
| Q4 24 | $0.75 | $-0.26 | ||
| Q3 24 | $0.95 | $0.12 | ||
| Q2 24 | $0.85 | $0.07 | ||
| Q1 24 | $0.62 | $0.01 |
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 | $197.2M |
| 总债务越低越好 | $782.7M | $392.6M |
| 股东权益账面价值 | $1.0B | $603.4M |
| 总资产 | $2.7B | $1.3B |
| 负债/权益比越低杠杆越低 | 0.75× | 0.65× |
8季度趋势，按日历期对齐
现金及短期投资AWRECVT
| Q4 25 | $18.8M | $197.2M | ||
| Q3 25 | $26.1M | $82.0M | ||
| Q2 25 | $20.2M | $69.6M | ||
| Q1 25 | $21.2M | $127.5M | ||
| Q4 24 | $26.7M | $131.4M | ||
| Q3 24 | $16.5M | $123.5M | ||
| Q2 24 | $3.6M | $83.3M | ||
| Q1 24 | $17.0M | $103.1M |
总债务AWRECVT
| Q4 25 | $782.7M | $392.6M | ||
| Q3 25 | — | $854.8M | ||
| Q2 25 | — | $856.6M | ||
| Q1 25 | — | $859.0M | ||
| Q4 24 | $640.4M | $860.8M | ||
| Q3 24 | — | $862.7M | ||
| Q2 24 | — | $862.4M | ||
| Q1 24 | — | $866.2M |
股东权益AWRECVT
| Q4 25 | $1.0B | $603.4M | ||
| Q3 25 | $1.0B | $607.9M | ||
| Q2 25 | $972.5M | $692.4M | ||
| Q1 25 | $956.4M | $698.7M | ||
| Q4 24 | $920.1M | $700.5M | ||
| Q3 24 | $879.5M | $729.4M | ||
| Q2 24 | $833.5M | $717.3M | ||
| Q1 24 | $800.5M | $711.4M |
总资产AWRECVT
| Q4 25 | $2.7B | $1.3B | ||
| Q3 25 | $2.7B | $1.7B | ||
| Q2 25 | $2.6B | $1.8B | ||
| Q1 25 | $2.5B | $1.8B | ||
| Q4 24 | $2.5B | $1.8B | ||
| Q3 24 | $2.4B | $1.8B | ||
| Q2 24 | $2.3B | $1.8B | ||
| Q1 24 | $2.3B | $1.8B |
负债/权益比AWRECVT
| Q4 25 | 0.75× | 0.65× | ||
| Q3 25 | — | 1.41× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 1.23× | ||
| Q4 24 | 0.70× | 1.23× | ||
| Q3 24 | — | 1.18× | ||
| Q2 24 | — | 1.20× | ||
| Q1 24 | — | 1.22× |
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 | $41.8M |
| 自由现金流经营现金流 - 资本支出 | $-36.0M | $22.9M |
| 自由现金流率自由现金流/营收 | -21.9% | 11.5% |
| 资本支出强度资本支出/营收 | 38.8% | 9.4% |
| 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 | $69.9M |
8季度趋势，按日历期对齐
经营现金流AWRECVT
| Q4 25 | $27.7M | $41.8M | ||
| Q3 25 | $92.4M | $55.3M | ||
| Q2 25 | $64.6M | $33.0M | ||
| Q1 25 | $45.1M | $10.3M | ||
| Q4 24 | $64.5M | $43.5M | ||
| Q3 24 | $63.7M | $59.9M | ||
| Q2 24 | $24.7M | $10.0M | ||
| Q1 24 | $45.8M | $36.5M |
自由现金流AWRECVT
| Q4 25 | $-36.0M | $22.9M | ||
| Q3 25 | $37.7M | $53.2M | ||
| Q2 25 | $13.7M | $7.8M | ||
| Q1 25 | $-22.5M | $-14.0M | ||
| Q4 24 | $6.0M | $30.9M | ||
| Q3 24 | $-478.0K | $53.6M | ||
| Q2 24 | $-37.0M | $-9.3M | ||
| Q1 24 | $-1.7M | $19.1M |
自由现金流率AWRECVT
| Q4 25 | -21.9% | 11.5% | ||
| Q3 25 | 20.7% | 26.0% | ||
| Q2 25 | 8.4% | 4.4% | ||
| Q1 25 | -15.2% | -9.8% | ||
| Q4 24 | 4.2% | 20.7% | ||
| Q3 24 | -0.3% | 34.9% | ||
| Q2 24 | -23.8% | -6.1% | ||
| Q1 24 | -1.3% | 13.5% |
资本支出强度AWRECVT
| Q4 25 | 38.8% | 9.4% | ||
| Q3 25 | 29.9% | 1.0% | ||
| Q2 25 | 31.2% | 14.4% | ||
| Q1 25 | 45.6% | 16.9% | ||
| Q4 24 | 40.9% | 8.5% | ||
| Q3 24 | 39.7% | 4.1% | ||
| Q2 24 | 39.8% | 12.5% | ||
| Q1 24 | 35.2% | 12.3% |
现金转化率AWRECVT
| Q4 25 | 0.96× | — | ||
| Q3 25 | 2.24× | — | ||
| Q2 25 | 1.92× | 5.52× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 2.27× | — | ||
| Q3 24 | 1.78× | 4.21× | ||
| Q2 24 | 0.78× | 1.20× | ||
| Q1 24 | 1.98× | 29.90× |
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% |
ECVT
| Industrial Mining Automotive | $101.3M | 51% |
| Regeneration And Treatment Services | $90.0M | 45% |
| Other | $8.1M | 4% |
