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AMERICAN STATES WATER CO（AWR）与H2O AMERICA（HTO）财务数据对比。点击上方公司名可切换其他公司
H2O AMERICA的季度营收约是AMERICAN STATES WATER CO的1.2倍（$199.4M vs $164.3M）。AMERICAN STATES WATER CO净利率更高（17.5% vs 8.1%，领先9.4%）。AMERICAN STATES WATER CO同比增速更快（14.8% vs 1.5%）。过去两年H2O AMERICA的营收复合增速更高（15.3% 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。
H2O Wireless是美国的预付费移动通信服务商，依托AT&T网络运营，隶属于MVNO（移动虚拟网络运营商）Locus通信，自2019年起Locus成为Telrite控股的子公司，此前2010年起曾是KDDI美国旗下资产。该品牌主打无限制套餐服务，支持用户自带或购买无锁智能手机入网，AT&T合约机/锁网机也可兼容使用。
AWR vs HTO — 直观对比
营收规模更大
HTO
是对方的1.2倍
$164.3M
营收增速更快
AWR
高出13.3%
1.5%
净利率更高
AWR
高出9.4%
8.1%
两年增速更快
HTO
近两年复合增速
10.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $164.3M | $199.4M |
| 净利润 | $28.7M | $16.2M |
| 毛利率 | 88.9% | — |
| 营业利润率 | 27.4% | 16.6% |
| 净利率 | 17.5% | 8.1% |
| 营收同比 | 14.8% | 1.5% |
| 净利润同比 | 1.1% | -29.2% |
| 每股收益（稀释后） | $0.74 | $0.45 |
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AWRHTO
| Q4 25 | $164.3M | $199.4M | ||
| Q3 25 | $182.7M | $243.5M | ||
| Q2 25 | $163.1M | $197.8M | ||
| Q1 25 | $148.0M | $164.9M | ||
| Q4 24 | $143.1M | $196.5M | ||
| Q3 24 | $161.8M | $216.7M | ||
| Q2 24 | $155.3M | $173.1M | ||
| Q1 24 | $135.3M | $150.0M |
净利润AWRHTO
| Q4 25 | $28.7M | $16.2M | ||
| Q3 25 | $41.2M | $45.1M | ||
| Q2 25 | $33.7M | $24.7M | ||
| Q1 25 | $26.8M | $16.6M | ||
| Q4 24 | $28.4M | $22.9M | ||
| Q3 24 | $35.8M | $38.7M | ||
| Q2 24 | $31.9M | $20.7M | ||
| Q1 24 | $23.1M | $11.7M |
毛利率AWRHTO
| 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% | — | ||
| Q1 24 | 88.4% | — |
营业利润率AWRHTO
| Q4 25 | 27.4% | 16.6% | ||
| Q3 25 | 33.8% | 26.5% | ||
| Q2 25 | 31.3% | 22.2% | ||
| Q1 25 | 30.8% | 21.8% | ||
| Q4 24 | 27.0% | 22.2% | ||
| Q3 24 | 34.0% | 26.9% | ||
| Q2 24 | 33.3% | 23.4% | ||
| Q1 24 | 28.8% | 18.6% |
净利率AWRHTO
| Q4 25 | 17.5% | 8.1% | ||
| Q3 25 | 22.5% | 18.5% | ||
| Q2 25 | 20.7% | 12.5% | ||
| Q1 25 | 18.1% | 10.0% | ||
| Q4 24 | 19.9% | 11.7% | ||
| Q3 24 | 22.1% | 17.8% | ||
| Q2 24 | 20.5% | 12.0% | ||
| Q1 24 | 17.1% | 7.8% |
每股收益（稀释后）AWRHTO
| Q4 25 | $0.74 | $0.45 | ||
| Q3 25 | $1.06 | $1.27 | ||
| Q2 25 | $0.87 | $0.71 | ||
| Q1 25 | $0.70 | $0.49 | ||
| Q4 24 | $0.75 | $0.70 | ||
| Q3 24 | $0.95 | $1.17 | ||
| Q2 24 | $0.85 | $0.64 | ||
| Q1 24 | $0.62 | $0.36 |
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 | $20.7M |
| 总债务越低越好 | $782.7M | $1.9B |
| 股东权益账面价值 | $1.0B | $1.5B |
| 总资产 | $2.7B | $5.1B |
| 负债/权益比越低杠杆越低 | 0.75× | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资AWRHTO
| Q4 25 | $18.8M | $20.7M | ||
| Q3 25 | $26.1M | $11.3M | ||
| Q2 25 | $20.2M | $19.8M | ||
| Q1 25 | $21.2M | $23.7M | ||
| Q4 24 | $26.7M | $11.1M | ||
| Q3 24 | $16.5M | $4.0M | ||
| Q2 24 | $3.6M | $22.8M | ||
| Q1 24 | $17.0M | $4.5M |
总债务AWRHTO
| Q4 25 | $782.7M | $1.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AWRHTO
| Q4 25 | $1.0B | $1.5B | ||
| Q3 25 | $1.0B | $1.5B | ||
| Q2 25 | $972.5M | $1.5B | ||
| Q1 25 | $956.4M | $1.4B | ||
| Q4 24 | $920.1M | $1.4B | ||
| Q3 24 | $879.5M | $1.3B | ||
| Q2 24 | $833.5M | $1.3B | ||
| Q1 24 | $800.5M | $1.2B |
总资产AWRHTO
| Q4 25 | $2.7B | $5.1B | ||
| Q3 25 | $2.7B | $5.0B | ||
| Q2 25 | $2.6B | $4.8B | ||
| Q1 25 | $2.5B | $4.7B | ||
| Q4 24 | $2.5B | $4.7B | ||
| Q3 24 | $2.4B | $4.6B | ||
| Q2 24 | $2.3B | $4.4B | ||
| Q1 24 | $2.3B | $4.4B |
负债/权益比AWRHTO
| Q4 25 | 0.75× | 1.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.70× | 1.26× | ||
| 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 | $63.5M |
| 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× | 3.92× |
| 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AWRHTO
| Q4 25 | $27.7M | $63.5M | ||
| Q3 25 | $92.4M | $77.3M | ||
| Q2 25 | $64.6M | $60.8M | ||
| Q1 25 | $45.1M | $43.2M | ||
| Q4 24 | $64.5M | $41.5M | ||
| Q3 24 | $63.7M | $53.5M | ||
| Q2 24 | $24.7M | $49.3M | ||
| Q1 24 | $45.8M | $51.2M |
自由现金流AWRHTO
| Q4 25 | $-36.0M | — | ||
| Q3 25 | $37.7M | — | ||
| Q2 25 | $13.7M | — | ||
| Q1 25 | $-22.5M | — | ||
| Q4 24 | $6.0M | — | ||
| Q3 24 | $-478.0K | — | ||
| Q2 24 | $-37.0M | — | ||
| Q1 24 | $-1.7M | — |
自由现金流率AWRHTO
| Q4 25 | -21.9% | — | ||
| Q3 25 | 20.7% | — | ||
| Q2 25 | 8.4% | — | ||
| Q1 25 | -15.2% | — | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | -0.3% | — | ||
| Q2 24 | -23.8% | — | ||
| Q1 24 | -1.3% | — |
资本支出强度AWRHTO
| Q4 25 | 38.8% | — | ||
| Q3 25 | 29.9% | — | ||
| Q2 25 | 31.2% | — | ||
| Q1 25 | 45.6% | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 39.7% | — | ||
| Q2 24 | 39.8% | — | ||
| Q1 24 | 35.2% | — |
现金转化率AWRHTO
| Q4 25 | 0.96× | 3.92× | ||
| Q3 25 | 2.24× | 1.71× | ||
| Q2 25 | 1.92× | 2.47× | ||
| Q1 25 | 1.68× | 2.61× | ||
| Q4 24 | 2.27× | 1.81× | ||
| Q3 24 | 1.78× | 1.39× | ||
| Q2 24 | 0.78× | 2.38× | ||
| Q1 24 | 1.98× | 4.38× |
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% |
HTO
暂无分部数据
