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AMERICAN STATES WATER CO（AWR）与弗雷斯特研究公司（FORR）财务数据对比。点击上方公司名可切换其他公司
AMERICAN STATES WATER CO的季度营收约是弗雷斯特研究公司的1.6倍（$164.3M vs $101.1M），AMERICAN STATES WATER CO净利率更高（17.5% vs -33.5%，领先51.0%），AMERICAN STATES WATER CO同比增速更快（14.8% vs -6.5%），弗雷斯特研究公司自由现金流更多（$-4.3M vs $-36.0M），过去两年AMERICAN STATES WATER CO的营收复合增速更高（10.2% vs 0.5%）
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。
福雷斯特研究公司是一家全球领先的研究咨询机构，主营业务涵盖行业研究、管理咨询与行业峰会举办，客户群体包括全球大型企业、科技公司与消费领域领军企业，公司总部位于美国马萨诸塞州剑桥市。
AWR vs FORR — 直观对比
营收规模更大
AWR
是对方的1.6倍
$101.1M
营收增速更快
AWR
高出21.3%
-6.5%
净利率更高
AWR
高出51.0%
-33.5%
自由现金流更多
FORR
多$31.7M
$-36.0M
两年增速更快
AWR
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $164.3M | $101.1M |
| 净利润 | $28.7M | $-33.9M |
| 毛利率 | 88.9% | 56.7% |
| 营业利润率 | 27.4% | -36.6% |
| 净利率 | 17.5% | -33.5% |
| 营收同比 | 14.8% | -6.5% |
| 净利润同比 | 1.1% | -7941.4% |
| 每股收益（稀释后） | $0.74 | $-1.75 |
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AWRFORR
| Q4 25 | $164.3M | $101.1M | ||
| Q3 25 | $182.7M | $94.3M | ||
| Q2 25 | $163.1M | $111.7M | ||
| Q1 25 | $148.0M | $89.9M | ||
| Q4 24 | $143.1M | $108.0M | ||
| Q3 24 | $161.8M | $102.5M | ||
| Q2 24 | $155.3M | $121.8M | ||
| Q1 24 | $135.3M | $100.1M |
净利润AWRFORR
| Q4 25 | $28.7M | $-33.9M | ||
| Q3 25 | $41.2M | $-2.1M | ||
| Q2 25 | $33.7M | $3.9M | ||
| Q1 25 | $26.8M | $-87.3M | ||
| Q4 24 | $28.4M | $432.0K | ||
| Q3 24 | $35.8M | $-5.8M | ||
| Q2 24 | $31.9M | $6.3M | ||
| Q1 24 | $23.1M | $-6.7M |
毛利率AWRFORR
| Q4 25 | 88.9% | 56.7% | ||
| Q3 25 | 91.0% | 60.0% | ||
| Q2 25 | 92.1% | 55.5% | ||
| Q1 25 | 91.3% | 55.9% | ||
| Q4 24 | 92.4% | 58.8% | ||
| Q3 24 | 92.7% | 60.5% | ||
| Q2 24 | 89.6% | 57.3% | ||
| Q1 24 | 88.4% | 54.9% |
营业利润率AWRFORR
| Q4 25 | 27.4% | -36.6% | ||
| Q3 25 | 33.8% | 4.7% | ||
| Q2 25 | 31.3% | 6.2% | ||
| Q1 25 | 30.8% | -97.5% | ||
| Q4 24 | 27.0% | -0.5% | ||
| Q3 24 | 34.0% | -0.7% | ||
| Q2 24 | 33.3% | 9.3% | ||
| Q1 24 | 28.8% | -9.3% |
净利率AWRFORR
| Q4 25 | 17.5% | -33.5% | ||
| Q3 25 | 22.5% | -2.3% | ||
| Q2 25 | 20.7% | 3.5% | ||
| Q1 25 | 18.1% | -97.1% | ||
| Q4 24 | 19.9% | 0.4% | ||
| Q3 24 | 22.1% | -5.7% | ||
| Q2 24 | 20.5% | 5.2% | ||
| Q1 24 | 17.1% | -6.7% |
每股收益（稀释后）AWRFORR
| Q4 25 | $0.74 | $-1.75 | ||
| Q3 25 | $1.06 | $-0.11 | ||
| Q2 25 | $0.87 | $0.20 | ||
| Q1 25 | $0.70 | $-4.62 | ||
| Q4 24 | $0.75 | $0.02 | ||
| Q3 24 | $0.95 | $-0.30 | ||
| Q2 24 | $0.85 | $0.33 | ||
| Q1 24 | $0.62 | $-0.35 |
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 | $63.3M |
| 总债务越低越好 | $782.7M | — |
| 股东权益账面价值 | $1.0B | $126.5M |
| 总资产 | $2.7B | $404.0M |
| 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AWRFORR
| Q4 25 | $18.8M | $63.3M | ||
| Q3 25 | $26.1M | $65.1M | ||
| Q2 25 | $20.2M | $67.8M | ||
| Q1 25 | $21.2M | $75.6M | ||
| Q4 24 | $26.7M | $56.1M | ||
| Q3 24 | $16.5M | $62.8M | ||
| Q2 24 | $3.6M | $58.9M | ||
| Q1 24 | $17.0M | $61.4M |
总债务AWRFORR
| Q4 25 | $782.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AWRFORR
| Q4 25 | $1.0B | $126.5M | ||
| Q3 25 | $1.0B | $157.7M | ||
| Q2 25 | $972.5M | $159.5M | ||
| Q1 25 | $956.4M | $147.4M | ||
| Q4 24 | $920.1M | $229.5M | ||
| Q3 24 | $879.5M | $234.3M | ||
| Q2 24 | $833.5M | $237.1M | ||
| Q1 24 | $800.5M | $230.9M |
总资产AWRFORR
| Q4 25 | $2.7B | $404.0M | ||
| Q3 25 | $2.7B | $414.2M | ||
| Q2 25 | $2.6B | $436.0M | ||
| Q1 25 | $2.5B | $439.8M | ||
| Q4 24 | $2.5B | $503.9M | ||
| Q3 24 | $2.4B | $505.3M | ||
| Q2 24 | $2.3B | $524.2M | ||
| Q1 24 | $2.3B | $555.7M |
负债/权益比AWRFORR
| Q4 25 | 0.75× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $27.7M | $-3.2M |
| 自由现金流经营现金流 - 资本支出 | $-36.0M | $-4.3M |
| 自由现金流率自由现金流/营收 | -21.9% | -4.2% |
| 资本支出强度资本支出/营收 | 38.8% | 1.1% |
| 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 | $18.1M |
8季度趋势，按日历期对齐
经营现金流AWRFORR
| Q4 25 | $27.7M | $-3.2M | ||
| Q3 25 | $92.4M | $1.2M | ||
| Q2 25 | $64.6M | $-3.6M | ||
| Q1 25 | $45.1M | $26.7M | ||
| Q4 24 | $64.5M | $-1.8M | ||
| Q3 24 | $63.7M | $264.0K | ||
| Q2 24 | $24.7M | $-2.9M | ||
| Q1 24 | $45.8M | $611.0K |
自由现金流AWRFORR
| Q4 25 | $-36.0M | $-4.3M | ||
| Q3 25 | $37.7M | $524.0K | ||
| Q2 25 | $13.7M | $-4.2M | ||
| Q1 25 | $-22.5M | $26.1M | ||
| Q4 24 | $6.0M | $-2.5M | ||
| Q3 24 | $-478.0K | $-223.0K | ||
| Q2 24 | $-37.0M | $-3.7M | ||
| Q1 24 | $-1.7M | $-815.0K |
自由现金流率AWRFORR
| Q4 25 | -21.9% | -4.2% | ||
| Q3 25 | 20.7% | 0.6% | ||
| Q2 25 | 8.4% | -3.8% | ||
| Q1 25 | -15.2% | 29.0% | ||
| Q4 24 | 4.2% | -2.3% | ||
| Q3 24 | -0.3% | -0.2% | ||
| Q2 24 | -23.8% | -3.1% | ||
| Q1 24 | -1.3% | -0.8% |
资本支出强度AWRFORR
| Q4 25 | 38.8% | 1.1% | ||
| Q3 25 | 29.9% | 0.7% | ||
| Q2 25 | 31.2% | 0.5% | ||
| Q1 25 | 45.6% | 0.7% | ||
| Q4 24 | 40.9% | 0.6% | ||
| Q3 24 | 39.7% | 0.5% | ||
| Q2 24 | 39.8% | 0.7% | ||
| Q1 24 | 35.2% | 1.4% |
现金转化率AWRFORR
| Q4 25 | 0.96× | — | ||
| Q3 25 | 2.24× | — | ||
| Q2 25 | 1.92× | -0.93× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 2.27× | -4.24× | ||
| Q3 24 | 1.78× | — | ||
| Q2 24 | 0.78× | -0.46× | ||
| Q1 24 | 1.98× | — |
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% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
