vs
AMERICAN STATES WATER CO（AWR）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
Rocket Lab Corp的季度营收约是AMERICAN STATES WATER CO的1.1倍（$179.7M vs $164.3M），AMERICAN STATES WATER CO净利率更高（17.5% vs -29.5%，领先47.0%），Rocket Lab Corp同比增速更快（35.7% vs 14.8%），AMERICAN STATES WATER CO自由现金流更多（$-36.0M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% 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。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
AWR vs RKLB — 直观对比
营收规模更大
RKLB
是对方的1.1倍
$164.3M
营收增速更快
RKLB
高出20.9%
14.8%
净利率更高
AWR
高出47.0%
-29.5%
自由现金流更多
AWR
多$78.2M
$-114.2M
两年增速更快
RKLB
近两年复合增速
10.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $164.3M | $179.7M |
| 净利润 | $28.7M | $-52.9M |
| 毛利率 | 88.9% | 38.0% |
| 营业利润率 | 27.4% | -28.4% |
| 净利率 | 17.5% | -29.5% |
| 营收同比 | 14.8% | 35.7% |
| 净利润同比 | 1.1% | -1.1% |
| 每股收益（稀释后） | $0.74 | $-0.09 |
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AWRRKLB
| Q4 25 | $164.3M | $179.7M | ||
| Q3 25 | $182.7M | $155.1M | ||
| Q2 25 | $163.1M | $144.5M | ||
| Q1 25 | $148.0M | $122.6M | ||
| Q4 24 | $143.1M | $132.4M | ||
| Q3 24 | $161.8M | $104.8M | ||
| Q2 24 | $155.3M | $106.3M | ||
| Q1 24 | $135.3M | $92.8M |
净利润AWRRKLB
| Q4 25 | $28.7M | $-52.9M | ||
| Q3 25 | $41.2M | $-18.3M | ||
| Q2 25 | $33.7M | $-66.4M | ||
| Q1 25 | $26.8M | $-60.6M | ||
| Q4 24 | $28.4M | $-52.3M | ||
| Q3 24 | $35.8M | $-51.9M | ||
| Q2 24 | $31.9M | $-41.6M | ||
| Q1 24 | $23.1M | $-44.3M |
毛利率AWRRKLB
| Q4 25 | 88.9% | 38.0% | ||
| Q3 25 | 91.0% | 37.0% | ||
| Q2 25 | 92.1% | 32.1% | ||
| Q1 25 | 91.3% | 28.8% | ||
| Q4 24 | 92.4% | 27.8% | ||
| Q3 24 | 92.7% | 26.7% | ||
| Q2 24 | 89.6% | 25.6% | ||
| Q1 24 | 88.4% | 26.1% |
营业利润率AWRRKLB
| Q4 25 | 27.4% | -28.4% | ||
| Q3 25 | 33.8% | -38.0% | ||
| Q2 25 | 31.3% | -41.3% | ||
| Q1 25 | 30.8% | -48.3% | ||
| Q4 24 | 27.0% | -38.9% | ||
| Q3 24 | 34.0% | -49.5% | ||
| Q2 24 | 33.3% | -40.7% | ||
| Q1 24 | 28.8% | -46.4% |
净利率AWRRKLB
| Q4 25 | 17.5% | -29.5% | ||
| Q3 25 | 22.5% | -11.8% | ||
| Q2 25 | 20.7% | -46.0% | ||
| Q1 25 | 18.1% | -49.5% | ||
| Q4 24 | 19.9% | -39.5% | ||
| Q3 24 | 22.1% | -49.6% | ||
| Q2 24 | 20.5% | -39.2% | ||
| Q1 24 | 17.1% | -47.7% |
每股收益（稀释后）AWRRKLB
| Q4 25 | $0.74 | $-0.09 | ||
| Q3 25 | $1.06 | $-0.03 | ||
| Q2 25 | $0.87 | $-0.13 | ||
| Q1 25 | $0.70 | $-0.12 | ||
| Q4 24 | $0.75 | $-0.11 | ||
| Q3 24 | $0.95 | $-0.10 | ||
| Q2 24 | $0.85 | $-0.08 | ||
| Q1 24 | $0.62 | $-0.09 |
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 | $1.0B |
| 总债务越低越好 | $782.7M | $152.4M |
| 股东权益账面价值 | $1.0B | $1.7B |
| 总资产 | $2.7B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.75× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资AWRRKLB
| Q4 25 | $18.8M | $1.0B | ||
| Q3 25 | $26.1M | $976.7M | ||
| Q2 25 | $20.2M | $688.1M | ||
| Q1 25 | $21.2M | $428.4M | ||
| Q4 24 | $26.7M | $419.0M | ||
| Q3 24 | $16.5M | $442.4M | ||
| Q2 24 | $3.6M | $496.8M | ||
| Q1 24 | $17.0M | $492.5M |
总债务AWRRKLB
| Q4 25 | $782.7M | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $345.9M | ||
| Q4 24 | $640.4M | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M | ||
| Q1 24 | — | $66.8M |
股东权益AWRRKLB
| Q4 25 | $1.0B | $1.7B | ||
| Q3 25 | $1.0B | $1.3B | ||
| Q2 25 | $972.5M | $688.5M | ||
| Q1 25 | $956.4M | $431.3M | ||
| Q4 24 | $920.1M | $382.5M | ||
| Q3 24 | $879.5M | $419.8M | ||
| Q2 24 | $833.5M | $455.2M | ||
| Q1 24 | $800.5M | $478.9M |
总资产AWRRKLB
| Q4 25 | $2.7B | $2.3B | ||
| Q3 25 | $2.7B | $2.2B | ||
| Q2 25 | $2.6B | $1.6B | ||
| Q1 25 | $2.5B | $1.3B | ||
| Q4 24 | $2.5B | $1.2B | ||
| Q3 24 | $2.4B | $1.2B | ||
| Q2 24 | $2.3B | $1.2B | ||
| Q1 24 | $2.3B | $1.2B |
负债/权益比AWRRKLB
| Q4 25 | 0.75× | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | 0.70× | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $-36.0M | $-114.2M |
| 自由现金流率自由现金流/营收 | -21.9% | -63.6% |
| 资本支出强度资本支出/营收 | 38.8% | 27.6% |
| 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 | $-321.8M |
8季度趋势，按日历期对齐
经营现金流AWRRKLB
| Q4 25 | $27.7M | $-64.5M | ||
| Q3 25 | $92.4M | $-23.5M | ||
| Q2 25 | $64.6M | $-23.2M | ||
| Q1 25 | $45.1M | $-54.2M | ||
| Q4 24 | $64.5M | $-2.4M | ||
| Q3 24 | $63.7M | $-30.9M | ||
| Q2 24 | $24.7M | $-13.0M | ||
| Q1 24 | $45.8M | $-2.6M |
自由现金流AWRRKLB
| Q4 25 | $-36.0M | $-114.2M | ||
| Q3 25 | $37.7M | $-69.4M | ||
| Q2 25 | $13.7M | $-55.3M | ||
| Q1 25 | $-22.5M | $-82.9M | ||
| Q4 24 | $6.0M | $-23.9M | ||
| Q3 24 | $-478.0K | $-41.9M | ||
| Q2 24 | $-37.0M | $-28.3M | ||
| Q1 24 | $-1.7M | $-21.8M |
自由现金流率AWRRKLB
| Q4 25 | -21.9% | -63.6% | ||
| Q3 25 | 20.7% | -44.8% | ||
| Q2 25 | 8.4% | -38.3% | ||
| Q1 25 | -15.2% | -67.6% | ||
| Q4 24 | 4.2% | -18.1% | ||
| Q3 24 | -0.3% | -40.0% | ||
| Q2 24 | -23.8% | -26.7% | ||
| Q1 24 | -1.3% | -23.5% |
资本支出强度AWRRKLB
| Q4 25 | 38.8% | 27.6% | ||
| Q3 25 | 29.9% | 29.6% | ||
| Q2 25 | 31.2% | 22.2% | ||
| Q1 25 | 45.6% | 23.4% | ||
| Q4 24 | 40.9% | 16.3% | ||
| Q3 24 | 39.7% | 10.5% | ||
| Q2 24 | 39.8% | 14.4% | ||
| Q1 24 | 35.2% | 20.7% |
现金转化率AWRRKLB
| Q4 25 | 0.96× | — | ||
| Q3 25 | 2.24× | — | ||
| Q2 25 | 1.92× | — | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 2.27× | — | ||
| Q3 24 | 1.78× | — | ||
| Q2 24 | 0.78× | — | ||
| 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% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
