vs
CALIFORNIA WATER SERVICE GROUP（CWT）与GIBRALTAR INDUSTRIES, INC.（ROCK）财务数据对比。点击上方公司名可切换其他公司
GIBRALTAR INDUSTRIES, INC.的季度营收约是CALIFORNIA WATER SERVICE GROUP的1.1倍（$225.0M vs $210.7M），GIBRALTAR INDUSTRIES, INC.同比增速更快（24.9% vs -3.3%），过去两年CALIFORNIA WATER SERVICE GROUP的营收复合增速更高（16.6% vs -12.3%）
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。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
CWT vs ROCK — 直观对比
营收规模更大
ROCK
是对方的1.1倍
$210.7M
营收增速更快
ROCK
高出28.2%
-3.3%
两年增速更快
CWT
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $210.7M | $225.0M |
| 净利润 | $11.5M | — |
| 毛利率 | — | 25.3% |
| 营业利润率 | 12.2% | 7.9% |
| 净利率 | 5.4% | — |
| 营收同比 | -3.3% | 24.9% |
| 净利润同比 | -41.0% | — |
| 每股收益（稀释后） | $0.19 | — |
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CWTROCK
| Q4 25 | $210.7M | $225.0M | ||
| Q3 25 | $314.1M | $310.9M | ||
| Q2 25 | $256.2M | $309.5M | ||
| Q1 25 | $182.7M | $290.0M | ||
| Q4 24 | $217.8M | $180.1M | ||
| Q3 24 | $306.2M | $277.1M | ||
| Q2 24 | $226.7M | $273.6M | ||
| Q1 24 | $154.9M | $292.5M |
净利润CWTROCK
| Q4 25 | $11.5M | — | ||
| Q3 25 | $61.2M | $-89.1M | ||
| Q2 25 | $42.2M | $26.0M | ||
| Q1 25 | $13.3M | $21.1M | ||
| Q4 24 | $19.5M | — | ||
| Q3 24 | $60.7M | $34.0M | ||
| Q2 24 | $40.6M | $32.2M | ||
| Q1 24 | $69.9M | $24.9M |
毛利率CWTROCK
| Q4 25 | — | 25.3% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 28.4% | ||
| Q1 25 | — | 26.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 30.5% | ||
| Q1 24 | — | 28.9% |
营业利润率CWTROCK
| Q4 25 | 12.2% | 7.9% | ||
| Q3 25 | 22.5% | 12.8% | ||
| Q2 25 | 20.2% | 12.8% | ||
| Q1 25 | 12.2% | 8.8% | ||
| Q4 24 | 14.8% | 13.3% | ||
| Q3 24 | 21.8% | 15.6% | ||
| Q2 24 | 21.2% | 14.9% | ||
| Q1 24 | 50.3% | 10.8% |
净利率CWTROCK
| Q4 25 | 5.4% | — | ||
| Q3 25 | 19.5% | -28.6% | ||
| Q2 25 | 16.5% | 8.4% | ||
| Q1 25 | 7.3% | 7.3% | ||
| Q4 24 | 8.9% | — | ||
| Q3 24 | 19.8% | 12.3% | ||
| Q2 24 | 17.9% | 11.8% | ||
| Q1 24 | 45.1% | 8.5% |
每股收益（稀释后）CWTROCK
| Q4 25 | $0.19 | — | ||
| Q3 25 | $1.03 | $-2.98 | ||
| Q2 25 | $0.71 | $0.87 | ||
| Q1 25 | $0.22 | — | ||
| Q4 24 | $0.31 | — | ||
| Q3 24 | $1.03 | $1.11 | ||
| Q2 24 | $0.70 | $1.05 | ||
| Q1 24 | $1.21 | — |
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 | $115.7M |
| 总债务越低越好 | $1.5B | $0 |
| 股东权益账面价值 | $1.7B | $950.4M |
| 总资产 | $5.7B | $1.4B |
| 负债/权益比越低杠杆越低 | 0.87× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资CWTROCK
| Q4 25 | $51.8M | $115.7M | ||
| Q3 25 | $76.0M | $89.4M | ||
| Q2 25 | $50.5M | $43.3M | ||
| Q1 25 | $44.5M | $25.1M | ||
| Q4 24 | $50.1M | $269.5M | ||
| Q3 24 | $59.6M | $228.9M | ||
| Q2 24 | $37.3M | $179.1M | ||
| Q1 24 | $42.8M | $146.7M |
总债务CWTROCK
| Q4 25 | $1.5B | $0 | ||
| Q3 25 | $1.1B | $0 | ||
| Q2 25 | $1.1B | $0 | ||
| Q1 25 | $1.1B | $0 | ||
| Q4 24 | $1.1B | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
股东权益CWTROCK
| Q4 25 | $1.7B | $950.4M | ||
| Q3 25 | $1.7B | $951.8M | ||
| Q2 25 | $1.7B | $1.0B | ||
| Q1 25 | $1.6B | $1.0B | ||
| Q4 24 | $1.6B | $1.0B | ||
| Q3 24 | $1.6B | $1.0B | ||
| Q2 24 | $1.5B | $975.7M | ||
| Q1 24 | $1.5B | $940.2M |
总资产CWTROCK
| Q4 25 | $5.7B | $1.4B | ||
| Q3 25 | $5.5B | $1.4B | ||
| Q2 25 | $5.4B | $1.5B | ||
| Q1 25 | $5.3B | $1.4B | ||
| Q4 24 | $5.2B | $1.4B | ||
| Q3 24 | $5.0B | $1.4B | ||
| Q2 24 | $4.9B | $1.4B | ||
| Q1 24 | $4.8B | $1.3B |
负债/权益比CWTROCK
| Q4 25 | 0.87× | 0.00× | ||
| Q3 25 | 0.65× | 0.00× | ||
| Q2 25 | 0.67× | 0.00× | ||
| Q1 25 | 0.68× | 0.00× | ||
| Q4 24 | 0.67× | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $35.5M |
| 自由现金流经营现金流 - 资本支出 | — | $26.2M |
| 自由现金流率自由现金流/营收 | — | 11.7% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 现金转化率经营现金流/净利润 | 4.17× | — |
| 过去12个月自由现金流最近4个季度 | — | $120.6M |
8季度趋势，按日历期对齐
经营现金流CWTROCK
| Q4 25 | $47.9M | $35.5M | ||
| Q3 25 | $167.3M | $73.0M | ||
| Q2 25 | $48.9M | $44.9M | ||
| Q1 25 | $38.4M | $13.7M | ||
| Q4 24 | $68.1M | $19.9M | ||
| Q3 24 | $101.8M | $64.7M | ||
| Q2 24 | $94.4M | $36.5M | ||
| Q1 24 | $26.5M | $53.2M |
自由现金流CWTROCK
| Q4 25 | — | $26.2M | ||
| Q3 25 | — | $64.8M | ||
| Q2 25 | — | $27.3M | ||
| Q1 25 | — | $2.3M | ||
| Q4 24 | — | $14.1M | ||
| Q3 24 | — | $60.5M | ||
| Q2 24 | — | $33.5M | ||
| Q1 24 | — | $48.8M |
自由现金流率CWTROCK
| Q4 25 | — | 11.7% | ||
| Q3 25 | — | 20.8% | ||
| Q2 25 | — | 8.8% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | 12.2% | ||
| Q1 24 | — | 16.7% |
资本支出强度CWTROCK
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 1.5% |
现金转化率CWTROCK
| Q4 25 | 4.17× | — | ||
| Q3 25 | 2.73× | — | ||
| Q2 25 | 1.16× | 1.73× | ||
| Q1 25 | 2.88× | 0.65× | ||
| Q4 24 | 3.50× | — | ||
| Q3 24 | 1.68× | 1.90× | ||
| Q2 24 | 2.33× | 1.13× | ||
| Q1 24 | 0.38× | 2.13× |
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% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
