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CALIFORNIA WATER SERVICE GROUP（CWT）与J&J SNACK FOODS CORP（JJSF）财务数据对比。点击上方公司名可切换其他公司
J&J SNACK FOODS CORP的季度营收约是CALIFORNIA WATER SERVICE GROUP的1.6倍（$343.8M vs $210.7M），CALIFORNIA WATER SERVICE GROUP净利率更高（5.4% vs 0.3%，领先5.2%），CALIFORNIA WATER SERVICE GROUP同比增速更快（-3.3% vs -5.2%），过去两年CALIFORNIA WATER SERVICE GROUP的营收复合增速更高（16.6% vs -2.2%）
加利福尼亚水务集团是美国公共事业企业，主营饮用水及污水处理服务，是美国第三大上市投资者所有水务公司，通过加利福尼亚、夏威夷、新墨西哥、华盛顿等州的子公司，为约200万民众提供服务。集团成立于1997年，作为加州水务的控股主体，推动业务向美国其他各州拓展。
强生休闲食品公司（J&J Snack Foods Corp.）是美国知名的品牌休闲食品与冷冻饮品生产商、营销商及分销商，总部位于新泽西州芒特劳雷尔，在全美44个州、墨西哥及加拿大设有超175个生产、仓储及配送设施，于纳斯达克全球精选市场上市，业务覆盖国内外市场。
CWT vs JJSF — 直观对比
营收规模更大
JJSF
是对方的1.6倍
$210.7M
营收增速更快
CWT
高出1.9%
-5.2%
净利率更高
CWT
高出5.2%
0.3%
两年增速更快
CWT
近两年复合增速
-2.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $210.7M | $343.8M |
| 净利润 | $11.5M | $883.0K |
| 毛利率 | — | 27.9% |
| 营业利润率 | 12.2% | 0.2% |
| 净利率 | 5.4% | 0.3% |
| 营收同比 | -3.3% | -5.2% |
| 净利润同比 | -41.0% | -82.8% |
| 每股收益（稀释后） | $0.19 | $0.05 |
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CWTJJSF
| Q4 25 | $210.7M | $343.8M | ||
| Q3 25 | $314.1M | $410.2M | ||
| Q2 25 | $256.2M | $454.3M | ||
| Q1 25 | $182.7M | $356.1M | ||
| Q4 24 | $217.8M | $362.6M | ||
| Q3 24 | $306.2M | $426.8M | ||
| Q2 24 | $226.7M | $440.0M | ||
| Q1 24 | $154.9M | $359.7M |
净利润CWTJJSF
| Q4 25 | $11.5M | $883.0K | ||
| Q3 25 | $61.2M | $11.4M | ||
| Q2 25 | $42.2M | $44.2M | ||
| Q1 25 | $13.3M | $4.8M | ||
| Q4 24 | $19.5M | $5.1M | ||
| Q3 24 | $60.7M | $29.6M | ||
| Q2 24 | $40.6M | $36.3M | ||
| Q1 24 | $69.9M | $13.3M |
毛利率CWTJJSF
| Q4 25 | — | 27.9% | ||
| Q3 25 | — | 31.7% | ||
| Q2 25 | — | 33.0% | ||
| Q1 25 | — | 26.9% | ||
| Q4 24 | — | 25.9% | ||
| Q3 24 | — | 31.8% | ||
| Q2 24 | — | 33.6% | ||
| Q1 24 | — | 30.1% |
营业利润率CWTJJSF
| Q4 25 | 12.2% | 0.2% | ||
| Q3 25 | 22.5% | 2.8% | ||
| Q2 25 | 20.2% | 13.3% | ||
| Q1 25 | 12.2% | 1.7% | ||
| Q4 24 | 14.8% | 1.7% | ||
| Q3 24 | 21.8% | 9.3% | ||
| Q2 24 | 21.2% | 11.4% | ||
| Q1 24 | 50.3% | 5.0% |
净利率CWTJJSF
| Q4 25 | 5.4% | 0.3% | ||
| Q3 25 | 19.5% | 2.8% | ||
| Q2 25 | 16.5% | 9.7% | ||
| Q1 25 | 7.3% | 1.4% | ||
| Q4 24 | 8.9% | 1.4% | ||
| Q3 24 | 19.8% | 6.9% | ||
| Q2 24 | 17.9% | 8.3% | ||
| Q1 24 | 45.1% | 3.7% |
每股收益（稀释后）CWTJJSF
| Q4 25 | $0.19 | $0.05 | ||
| Q3 25 | $1.03 | $0.59 | ||
| Q2 25 | $0.71 | $2.26 | ||
| Q1 25 | $0.22 | $0.25 | ||
| Q4 24 | $0.31 | $0.26 | ||
| Q3 24 | $1.03 | $1.52 | ||
| Q2 24 | $0.70 | $1.87 | ||
| Q1 24 | $1.21 | $0.69 |
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 | $51.8M | $66.8M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $1.7B | $912.9M |
| 总资产 | $5.7B | $1.3B |
| 负债/权益比越低杠杆越低 | 0.87× | — |
8季度趋势，按日历期对齐
现金及短期投资CWTJJSF
| Q4 25 | $51.8M | $66.8M | ||
| Q3 25 | $76.0M | $105.9M | ||
| Q2 25 | $50.5M | $77.4M | ||
| Q1 25 | $44.5M | $48.5M | ||
| Q4 24 | $50.1M | $73.6M | ||
| Q3 24 | $59.6M | $73.4M | ||
| Q2 24 | $37.3M | $64.0M | ||
| Q1 24 | $42.8M | $43.6M |
总债务CWTJJSF
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CWTJJSF
| Q4 25 | $1.7B | $912.9M | ||
| Q3 25 | $1.7B | $966.7M | ||
| Q2 25 | $1.7B | $969.9M | ||
| Q1 25 | $1.6B | $935.0M | ||
| Q4 24 | $1.6B | $946.8M | ||
| Q3 24 | $1.6B | $957.0M | ||
| Q2 24 | $1.5B | $937.9M | ||
| Q1 24 | $1.5B | $915.7M |
总资产CWTJJSF
| Q4 25 | $5.7B | $1.3B | ||
| Q3 25 | $5.5B | $1.4B | ||
| Q2 25 | $5.4B | $1.4B | ||
| Q1 25 | $5.3B | $1.4B | ||
| Q4 24 | $5.2B | $1.3B | ||
| Q3 24 | $5.0B | $1.4B | ||
| Q2 24 | $4.9B | $1.4B | ||
| Q1 24 | $4.8B | $1.3B |
负债/权益比CWTJJSF
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 0.68× | — | ||
| Q4 24 | 0.67× | — | ||
| 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 | $47.9M | $36.0M |
| 自由现金流经营现金流 - 资本支出 | — | $17.0M |
| 自由现金流率自由现金流/营收 | — | 4.9% |
| 资本支出强度资本支出/营收 | — | 5.5% |
| 现金转化率经营现金流/净利润 | 4.17× | 40.73× |
| 过去12个月自由现金流最近4个季度 | — | $83.1M |
8季度趋势，按日历期对齐
经营现金流CWTJJSF
| Q4 25 | $47.9M | $36.0M | ||
| Q3 25 | $167.3M | $66.4M | ||
| Q2 25 | $48.9M | $51.2M | ||
| Q1 25 | $38.4M | $12.3M | ||
| Q4 24 | $68.1M | $35.2M | ||
| Q3 24 | $101.8M | $46.3M | ||
| Q2 24 | $94.4M | $65.0M | ||
| Q1 24 | $26.5M | $12.7M |
自由现金流CWTJJSF
| Q4 25 | — | $17.0M | ||
| Q3 25 | — | $44.8M | ||
| Q2 25 | — | $28.5M | ||
| Q1 25 | — | $-7.2M | ||
| Q4 24 | — | $16.1M | ||
| Q3 24 | — | $29.1M | ||
| Q2 24 | — | $45.3M | ||
| Q1 24 | — | $-4.0M |
自由现金流率CWTJJSF
| Q4 25 | — | 4.9% | ||
| Q3 25 | — | 10.9% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | -2.0% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 10.3% | ||
| Q1 24 | — | -1.1% |
资本支出强度CWTJJSF
| Q4 25 | — | 5.5% | ||
| Q3 25 | — | 5.3% | ||
| Q2 25 | — | 5.0% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | — | 5.3% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | — | 4.5% | ||
| Q1 24 | — | 4.6% |
现金转化率CWTJJSF
| Q4 25 | 4.17× | 40.73× | ||
| Q3 25 | 2.73× | 5.84× | ||
| Q2 25 | 1.16× | 1.16× | ||
| Q1 25 | 2.88× | 2.55× | ||
| Q4 24 | 3.50× | 6.84× | ||
| Q3 24 | 1.68× | 1.56× | ||
| Q2 24 | 2.33× | 1.79× | ||
| Q1 24 | 0.38× | 0.96× |
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
CWT
| Residential | $133.2M | 63% |
| Business | $47.7M | 23% |
| Public Authorities | $13.4M | 6% |
| Industrial | $6.9M | 3% |
| Non Regulated Services | $4.8M | 2% |
| Other Non Regulated Service | $1.2M | 1% |
JJSF
| Food Service | $219.2M | 64% |
| Frozen Beverages | $78.7M | 23% |
| Repair And Maintenance Service | $22.5M | 7% |
| Other | $12.7M | 4% |
| Machine Sales | $10.7M | 3% |
