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AMERICAN STATES WATER CO（AWR）与Essential Utilities, Inc.（WTRG）财务数据对比。点击上方公司名可切换其他公司
Essential Utilities, Inc.的季度营收约是AMERICAN STATES WATER CO的4.3倍（$699.1M vs $164.3M）。Essential Utilities, Inc.净利率更高（19.0% vs 17.5%，领先1.5%）。Essential Utilities, Inc.同比增速更快（15.7% vs 14.8%）。过去两年AMERICAN STATES WATER CO的营收复合增速更高（10.2% vs 6.9%）
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。
Essential Utilities是美国公共事业企业，业务覆盖伊利诺伊、印第安纳、肯塔基、新泽西、北卡罗来纳、俄亥俄、宾夕法尼亚、得克萨斯、弗吉尼亚共九个州，主营饮用水供应、污水处理基础设施运营及天然气供应服务，作为上市公司（股票代码WTRG），是Aqua America和Peoples Natural Gas的母公司，两家子公司仍保留原有品牌独立运营。
AWR vs WTRG — 直观对比
营收规模更大
WTRG
是对方的4.3倍
$164.3M
营收增速更快
WTRG
高出0.9%
14.8%
净利率更高
WTRG
高出1.5%
17.5%
两年增速更快
AWR
近两年复合增速
6.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $164.3M | $699.1M |
| 净利润 | $28.7M | $132.7M |
| 毛利率 | 88.9% | — |
| 营业利润率 | 27.4% | 32.5% |
| 净利率 | 17.5% | 19.0% |
| 营收同比 | 14.8% | 15.7% |
| 净利润同比 | 1.1% | -28.2% |
| 每股收益（稀释后） | $0.74 | $0.46 |
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AWRWTRG
| Q4 25 | $164.3M | $699.1M | ||
| Q3 25 | $182.7M | $477.0M | ||
| Q2 25 | $163.1M | $514.9M | ||
| Q1 25 | $148.0M | $783.6M | ||
| Q4 24 | $143.1M | $604.4M | ||
| Q3 24 | $161.8M | $435.3M | ||
| Q2 24 | $155.3M | $434.4M | ||
| Q1 24 | $135.3M | $612.1M |
净利润AWRWTRG
| Q4 25 | $28.7M | $132.7M | ||
| Q3 25 | $41.2M | $92.1M | ||
| Q2 25 | $33.7M | $107.8M | ||
| Q1 25 | $26.8M | $283.8M | ||
| Q4 24 | $28.4M | $184.8M | ||
| Q3 24 | $35.8M | $69.4M | ||
| Q2 24 | $31.9M | $75.4M | ||
| Q1 24 | $23.1M | $265.8M |
毛利率AWRWTRG
| 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AWRWTRG
| Q4 25 | 27.4% | 32.5% | ||
| Q3 25 | 33.8% | 35.6% | ||
| Q2 25 | 31.3% | 36.0% | ||
| Q1 25 | 30.8% | 43.2% | ||
| Q4 24 | 27.0% | 37.5% | ||
| Q3 24 | 34.0% | 35.6% | ||
| Q2 24 | 33.3% | 33.4% | ||
| Q1 24 | 28.8% | 37.7% |
净利率AWRWTRG
| Q4 25 | 17.5% | 19.0% | ||
| Q3 25 | 22.5% | 19.3% | ||
| Q2 25 | 20.7% | 20.9% | ||
| Q1 25 | 18.1% | 36.2% | ||
| Q4 24 | 19.9% | 30.6% | ||
| Q3 24 | 22.1% | 15.9% | ||
| Q2 24 | 20.5% | 17.4% | ||
| Q1 24 | 17.1% | 43.4% |
每股收益（稀释后）AWRWTRG
| Q4 25 | $0.74 | $0.46 | ||
| Q3 25 | $1.06 | $0.33 | ||
| Q2 25 | $0.87 | $0.38 | ||
| Q1 25 | $0.70 | $1.03 | ||
| Q4 24 | $0.75 | $0.67 | ||
| Q3 24 | $0.95 | $0.25 | ||
| Q2 24 | $0.85 | $0.28 | ||
| Q1 24 | $0.62 | $0.97 |
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 | $34.8M |
| 总债务越低越好 | $782.7M | — |
| 股东权益账面价值 | $1.0B | $6.9B |
| 总资产 | $2.7B | $19.5B |
| 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AWRWTRG
| Q4 25 | $18.8M | $34.8M | ||
| Q3 25 | $26.1M | $6.4M | ||
| Q2 25 | $20.2M | $25.1M | ||
| Q1 25 | $21.2M | $20.8M | ||
| Q4 24 | $26.7M | $9.2M | ||
| Q3 24 | $16.5M | $8.4M | ||
| Q2 24 | $3.6M | $18.8M | ||
| Q1 24 | $17.0M | $35.2M |
总债务AWRWTRG
| Q4 25 | $782.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AWRWTRG
| Q4 25 | $1.0B | $6.9B | ||
| Q3 25 | $1.0B | $6.8B | ||
| Q2 25 | $972.5M | $6.7B | ||
| Q1 25 | $956.4M | $6.5B | ||
| Q4 24 | $920.1M | $6.2B | ||
| Q3 24 | $879.5M | $6.2B | ||
| Q2 24 | $833.5M | $6.2B | ||
| Q1 24 | $800.5M | $6.1B |
总资产AWRWTRG
| Q4 25 | $2.7B | $19.5B | ||
| Q3 25 | $2.7B | $18.9B | ||
| Q2 25 | $2.6B | $18.6B | ||
| Q1 25 | $2.5B | $18.3B | ||
| Q4 24 | $2.5B | $18.0B | ||
| Q3 24 | $2.4B | $17.6B | ||
| Q2 24 | $2.3B | $17.3B | ||
| Q1 24 | $2.3B | $17.1B |
负债/权益比AWRWTRG
| 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 | $206.1M |
| 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× | 1.55× |
| 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AWRWTRG
| Q4 25 | $27.7M | $206.1M | ||
| Q3 25 | $92.4M | $232.5M | ||
| Q2 25 | $64.6M | $272.3M | ||
| Q1 25 | $45.1M | $299.5M | ||
| Q4 24 | $64.5M | $147.8M | ||
| Q3 24 | $63.7M | $196.1M | ||
| Q2 24 | $24.7M | $185.7M | ||
| Q1 24 | $45.8M | $240.7M |
自由现金流AWRWTRG
| 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AWRWTRG
| 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AWRWTRG
| 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AWRWTRG
| Q4 25 | 0.96× | 1.55× | ||
| Q3 25 | 2.24× | 2.53× | ||
| Q2 25 | 1.92× | 2.53× | ||
| Q1 25 | 1.68× | 1.06× | ||
| Q4 24 | 2.27× | 0.80× | ||
| Q3 24 | 1.78× | 2.83× | ||
| Q2 24 | 0.78× | 2.46× | ||
| Q1 24 | 1.98× | 0.91× |
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% |
WTRG
| Natural Gas | $371.7M | 53% |
| Water | $269.4M | 39% |
| Wastewater | $57.2M | 8% |
| Other | $2.7M | 0% |
