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H2O AMERICA（HTO）与LINDSAY CORP（LNN）财务数据对比。点击上方公司名可切换其他公司
H2O AMERICA的季度营收约是LINDSAY CORP的1.3倍（$199.4M vs $150.7M），LINDSAY CORP净利率更高（11.0% vs 8.1%，领先2.8%），H2O AMERICA同比增速更快（1.5% vs -6.1%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs 1.3%）
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。
林赛公司总部位于美国内布拉斯加州奥马哈市，原名林赛制造公司，核心产品为旗下Zimmatic品牌中心枢轴灌溉系统，此外还生产农业机械、工程机械，以及公路与铁路基础设施设备。
HTO vs LNN — 直观对比
营收规模更大
HTO
是对方的1.3倍
$150.7M
营收增速更快
HTO
高出7.6%
-6.1%
净利率更高
LNN
高出2.8%
8.1%
两年增速更快
HTO
近两年复合增速
1.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $150.7M |
| 净利润 | $16.2M | $16.5M |
| 毛利率 | — | 33.3% |
| 营业利润率 | 16.6% | 13.0% |
| 净利率 | 8.1% | 11.0% |
| 营收同比 | 1.5% | -6.1% |
| 净利润同比 | -29.2% | -3.7% |
| 每股收益（稀释后） | $0.45 | $1.54 |
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HTOLNN
| Q4 25 | $199.4M | $150.7M | ||
| Q3 25 | $243.5M | $149.0M | ||
| Q2 25 | $197.8M | $165.7M | ||
| Q1 25 | $164.9M | $183.8M | ||
| Q4 24 | $196.5M | $160.5M | ||
| Q3 24 | $216.7M | $149.4M | ||
| Q2 24 | $173.1M | $133.7M | ||
| Q1 24 | $150.0M | $146.8M |
净利润HTOLNN
| Q4 25 | $16.2M | $16.5M | ||
| Q3 25 | $45.1M | $10.8M | ||
| Q2 25 | $24.7M | $19.5M | ||
| Q1 25 | $16.6M | $26.6M | ||
| Q4 24 | $22.9M | $17.2M | ||
| Q3 24 | $38.7M | $12.7M | ||
| Q2 24 | $20.7M | $20.4M | ||
| Q1 24 | $11.7M | $18.1M |
毛利率HTOLNN
| Q4 25 | — | 33.3% | ||
| Q3 25 | — | 30.0% | ||
| Q2 25 | — | 32.4% | ||
| Q1 25 | — | 34.0% | ||
| Q4 24 | — | 31.1% | ||
| Q3 24 | — | 30.6% | ||
| Q2 24 | — | 34.8% | ||
| Q1 24 | — | 33.3% |
营业利润率HTOLNN
| Q4 25 | 16.6% | 13.0% | ||
| Q3 25 | 26.5% | 7.6% | ||
| Q2 25 | 22.2% | 14.4% | ||
| Q1 25 | 21.8% | 17.5% | ||
| Q4 24 | 22.2% | 13.0% | ||
| Q3 24 | 26.9% | 9.0% | ||
| Q2 24 | 23.4% | 14.9% | ||
| Q1 24 | 18.6% | 15.1% |
净利率HTOLNN
| Q4 25 | 8.1% | 11.0% | ||
| Q3 25 | 18.5% | 7.3% | ||
| Q2 25 | 12.5% | 11.8% | ||
| Q1 25 | 10.0% | 14.5% | ||
| Q4 24 | 11.7% | 10.7% | ||
| Q3 24 | 17.8% | 8.5% | ||
| Q2 24 | 12.0% | 15.2% | ||
| Q1 24 | 7.8% | 12.3% |
每股收益（稀释后）HTOLNN
| Q4 25 | $0.45 | $1.54 | ||
| Q3 25 | $1.27 | $0.99 | ||
| Q2 25 | $0.71 | $1.78 | ||
| Q1 25 | $0.49 | $2.44 | ||
| Q4 24 | $0.70 | $1.57 | ||
| Q3 24 | $1.17 | $1.16 | ||
| Q2 24 | $0.64 | $1.85 | ||
| Q1 24 | $0.36 | $1.64 |
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 | $20.7M | $199.6M |
| 总债务越低越好 | $1.9B | $115.2M |
| 股东权益账面价值 | $1.5B | $518.2M |
| 总资产 | $5.1B | $828.4M |
| 负债/权益比越低杠杆越低 | 1.23× | 0.22× |
8季度趋势，按日历期对齐
现金及短期投资HTOLNN
| Q4 25 | $20.7M | $199.6M | ||
| Q3 25 | $11.3M | $250.6M | ||
| Q2 25 | $19.8M | $210.8M | ||
| Q1 25 | $23.7M | $186.7M | ||
| Q4 24 | $11.1M | $194.1M | ||
| Q3 24 | $4.0M | $190.9M | ||
| Q2 24 | $22.8M | $152.7M | ||
| Q1 24 | $4.5M | $150.6M |
总债务HTOLNN
| Q4 25 | $1.9B | $115.2M | ||
| Q3 25 | — | $115.3M | ||
| Q2 25 | — | $115.3M | ||
| Q1 25 | — | $115.4M | ||
| Q4 24 | $1.7B | $115.4M | ||
| Q3 24 | — | $115.5M | ||
| Q2 24 | — | $115.5M | ||
| Q1 24 | — | $115.6M |
股东权益HTOLNN
| Q4 25 | $1.5B | $518.2M | ||
| Q3 25 | $1.5B | $532.9M | ||
| Q2 25 | $1.5B | $528.8M | ||
| Q1 25 | $1.4B | $516.4M | ||
| Q4 24 | $1.4B | $488.5M | ||
| Q3 24 | $1.3B | $480.9M | ||
| Q2 24 | $1.3B | $480.0M | ||
| Q1 24 | $1.2B | $483.0M |
总资产HTOLNN
| Q4 25 | $5.1B | $828.4M | ||
| Q3 25 | $5.0B | $840.8M | ||
| Q2 25 | $4.8B | $840.9M | ||
| Q1 25 | $4.7B | $814.2M | ||
| Q4 24 | $4.7B | $771.0M | ||
| Q3 24 | $4.6B | $760.2M | ||
| Q2 24 | $4.4B | $758.1M | ||
| Q1 24 | $4.4B | $765.3M |
负债/权益比HTOLNN
| Q4 25 | 1.23× | 0.22× | ||
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | 0.22× | ||
| Q1 25 | — | 0.22× | ||
| Q4 24 | 1.26× | 0.24× | ||
| Q3 24 | — | 0.24× | ||
| Q2 24 | — | 0.24× | ||
| Q1 24 | — | 0.24× |
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 | $63.5M | $-597.0K |
| 自由现金流经营现金流 - 资本支出 | — | $-15.1M |
| 自由现金流率自由现金流/营收 | — | -10.0% |
| 资本支出强度资本支出/营收 | — | 9.6% |
| 现金转化率经营现金流/净利润 | 3.92× | -0.04× |
| 过去12个月自由现金流最近4个季度 | — | $62.9M |
8季度趋势，按日历期对齐
经营现金流HTOLNN
| Q4 25 | $63.5M | $-597.0K | ||
| Q3 25 | $77.3M | $64.0M | ||
| Q2 25 | $60.8M | $35.0M | ||
| Q1 25 | $43.2M | $12.3M | ||
| Q4 24 | $41.5M | $21.6M | ||
| Q3 24 | $53.5M | $53.1M | ||
| Q2 24 | $49.3M | $30.5M | ||
| Q1 24 | $51.2M | $-9.7M |
自由现金流HTOLNN
| Q4 25 | — | $-15.1M | ||
| Q3 25 | — | $49.8M | ||
| Q2 25 | — | $25.7M | ||
| Q1 25 | — | $2.5M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | — | $47.7M | ||
| Q2 24 | — | $25.8M | ||
| Q1 24 | — | $-21.6M |
自由现金流率HTOLNN
| Q4 25 | — | -10.0% | ||
| Q3 25 | — | 33.4% | ||
| Q2 25 | — | 15.5% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 31.9% | ||
| Q2 24 | — | 19.3% | ||
| Q1 24 | — | -14.7% |
资本支出强度HTOLNN
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | 9.6% | ||
| Q2 25 | — | 5.6% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | — | 5.7% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | 3.6% | ||
| Q1 24 | — | 8.1% |
现金转化率HTOLNN
| Q4 25 | 3.92× | -0.04× | ||
| Q3 25 | 1.71× | 5.92× | ||
| Q2 25 | 2.47× | 1.79× | ||
| Q1 25 | 2.61× | 0.46× | ||
| Q4 24 | 1.81× | 1.26× | ||
| Q3 24 | 1.39× | 4.17× | ||
| Q2 24 | 2.38× | 1.50× | ||
| Q1 24 | 4.38× | -0.54× |
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
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
LNN
| Transferred At Point In Time | $133.2M | 88% |
| Infrastructure | $13.4M | 9% |
| Transferred Over Time | $8.0M | 5% |
