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CSW INDUSTRIALS, INC.（CSW）与H2O AMERICA（HTO）财务数据对比。点击上方公司名可切换其他公司
CSW INDUSTRIALS, INC.的季度营收约是H2O AMERICA的1.2倍（$233.0M vs $199.4M），H2O AMERICA净利率更高（8.1% vs 4.4%，领先3.7%），CSW INDUSTRIALS, INC.同比增速更快（20.3% vs 1.5%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs 5.1%）
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。
CSW vs HTO — 直观对比
营收规模更大
CSW
是对方的1.2倍
$199.4M
营收增速更快
CSW
高出18.8%
1.5%
净利率更高
HTO
高出3.7%
4.4%
两年增速更快
HTO
近两年复合增速
5.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $233.0M | $199.4M |
| 净利润 | $10.3M | $16.2M |
| 毛利率 | 39.7% | — |
| 营业利润率 | 7.4% | 16.6% |
| 净利率 | 4.4% | 8.1% |
| 营收同比 | 20.3% | 1.5% |
| 净利润同比 | -61.9% | -29.2% |
| 每股收益（稀释后） | $0.62 | $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CSWHTO
| Q4 25 | $233.0M | $199.4M | ||
| Q3 25 | $277.0M | $243.5M | ||
| Q2 25 | $263.6M | $197.8M | ||
| Q1 25 | $230.5M | $164.9M | ||
| Q4 24 | $193.6M | $196.5M | ||
| Q3 24 | $227.9M | $216.7M | ||
| Q2 24 | $226.2M | $173.1M | ||
| Q1 24 | $210.9M | $150.0M |
净利润CSWHTO
| Q4 25 | $10.3M | $16.2M | ||
| Q3 25 | $40.7M | $45.1M | ||
| Q2 25 | $40.9M | $24.7M | ||
| Q1 25 | $35.1M | $16.6M | ||
| Q4 24 | $26.9M | $22.9M | ||
| Q3 24 | $36.1M | $38.7M | ||
| Q2 24 | $38.6M | $20.7M | ||
| Q1 24 | $31.8M | $11.7M |
毛利率CSWHTO
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.0% | — | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 41.4% | — | ||
| Q3 24 | 45.6% | — | ||
| Q2 24 | 47.5% | — | ||
| Q1 24 | 44.4% | — |
营业利润率CSWHTO
| Q4 25 | 7.4% | 16.6% | ||
| Q3 25 | 20.5% | 26.5% | ||
| Q2 25 | 20.8% | 22.2% | ||
| Q1 25 | 19.5% | 21.8% | ||
| Q4 24 | 15.3% | 22.2% | ||
| Q3 24 | 22.6% | 26.9% | ||
| Q2 24 | 24.3% | 23.4% | ||
| Q1 24 | 21.0% | 18.6% |
净利率CSWHTO
| Q4 25 | 4.4% | 8.1% | ||
| Q3 25 | 14.7% | 18.5% | ||
| Q2 25 | 15.5% | 12.5% | ||
| Q1 25 | 15.2% | 10.0% | ||
| Q4 24 | 13.9% | 11.7% | ||
| Q3 24 | 15.8% | 17.8% | ||
| Q2 24 | 17.1% | 12.0% | ||
| Q1 24 | 15.1% | 7.8% |
每股收益（稀释后）CSWHTO
| Q4 25 | $0.62 | $0.45 | ||
| Q3 25 | $2.41 | $1.27 | ||
| Q2 25 | $2.43 | $0.71 | ||
| Q1 25 | $2.05 | $0.49 | ||
| Q4 24 | $1.60 | $0.70 | ||
| Q3 24 | $2.26 | $1.17 | ||
| Q2 24 | $2.47 | $0.64 | ||
| Q1 24 | $2.03 | $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 | $40.2M | $20.7M |
| 总债务越低越好 | — | $1.9B |
| 股东权益账面价值 | $1.1B | $1.5B |
| 总资产 | $2.3B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资CSWHTO
| Q4 25 | $40.2M | $20.7M | ||
| Q3 25 | $31.5M | $11.3M | ||
| Q2 25 | $38.0M | $19.8M | ||
| Q1 25 | $225.8M | $23.7M | ||
| Q4 24 | $213.8M | $11.1M | ||
| Q3 24 | $273.2M | $4.0M | ||
| Q2 24 | $18.9M | $22.8M | ||
| Q1 24 | $22.2M | $4.5M |
总债务CSWHTO
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $800.1M | — | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $166.0M | — |
股东权益CSWHTO
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $1.1B | $1.5B | ||
| Q2 25 | $1.1B | $1.5B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.0B | $1.4B | ||
| Q3 24 | $1.0B | $1.3B | ||
| Q2 24 | $650.2M | $1.3B | ||
| Q1 24 | $615.7M | $1.2B |
总资产CSWHTO
| Q4 25 | $2.3B | $5.1B | ||
| Q3 25 | $1.5B | $5.0B | ||
| Q2 25 | $1.5B | $4.8B | ||
| Q1 25 | $1.4B | $4.7B | ||
| Q4 24 | $1.4B | $4.7B | ||
| Q3 24 | $1.4B | $4.6B | ||
| Q2 24 | $1.1B | $4.4B | ||
| Q1 24 | $1.0B | $4.4B |
负债/权益比CSWHTO
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.27× | — |
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 | $28.9M | $63.5M |
| 自由现金流经营现金流 - 资本支出 | $22.7M | — |
| 自由现金流率自由现金流/营收 | 9.8% | — |
| 资本支出强度资本支出/营收 | 2.6% | — |
| 现金转化率经营现金流/净利润 | 2.81× | 3.92× |
| 过去12个月自由现金流最近4个季度 | $162.0M | — |
8季度趋势，按日历期对齐
经营现金流CSWHTO
| Q4 25 | $28.9M | $63.5M | ||
| Q3 25 | $61.8M | $77.3M | ||
| Q2 25 | $60.6M | $60.8M | ||
| Q1 25 | $27.3M | $43.2M | ||
| Q4 24 | $11.6M | $41.5M | ||
| Q3 24 | $66.8M | $53.5M | ||
| Q2 24 | $62.7M | $49.3M | ||
| Q1 24 | $22.4M | $51.2M |
自由现金流CSWHTO
| Q4 25 | $22.7M | — | ||
| Q3 25 | $58.7M | — | ||
| Q2 25 | $57.7M | — | ||
| Q1 25 | $22.8M | — | ||
| Q4 24 | $8.5M | — | ||
| Q3 24 | $61.3M | — | ||
| Q2 24 | $59.6M | — | ||
| Q1 24 | $17.5M | — |
自由现金流率CSWHTO
| Q4 25 | 9.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 9.9% | — | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 26.9% | — | ||
| Q2 24 | 26.3% | — | ||
| Q1 24 | 8.3% | — |
资本支出强度CSWHTO
| Q4 25 | 2.6% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 2.3% | — |
现金转化率CSWHTO
| Q4 25 | 2.81× | 3.92× | ||
| Q3 25 | 1.52× | 1.71× | ||
| Q2 25 | 1.48× | 2.47× | ||
| Q1 25 | 0.78× | 2.61× | ||
| Q4 24 | 0.43× | 1.81× | ||
| Q3 24 | 1.85× | 1.39× | ||
| Q2 24 | 1.62× | 2.38× | ||
| Q1 24 | 0.71× | 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
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
