vs
H2O AMERICA（HTO）与Orthofix Medical Inc.（OFIX）财务数据对比。点击上方公司名可切换其他公司
Orthofix Medical Inc.的季度营收约是H2O AMERICA的1.1倍（$219.9M vs $199.4M），H2O AMERICA净利率更高（8.1% vs -1.0%，领先9.1%），Orthofix Medical Inc.同比增速更快（2.0% vs 1.5%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs 8.0%）
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。
Orthofix医疗是全球知名骨科医疗器械企业，专注于研发、生产及销售脊柱植入物、骨科创伤产品、骨生长刺激治疗设备及再生医疗产品，服务全球多地的骨科医师与医疗机构，致力于提升肌肉骨骼疾病患者的诊疗效果。
HTO vs OFIX — 直观对比
营收规模更大
OFIX
是对方的1.1倍
$199.4M
营收增速更快
OFIX
高出0.5%
1.5%
净利率更高
HTO
高出9.1%
-1.0%
两年增速更快
HTO
近两年复合增速
8.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $219.9M |
| 净利润 | $16.2M | $-2.2M |
| 毛利率 | — | 71.1% |
| 营业利润率 | 16.6% | 0.2% |
| 净利率 | 8.1% | -1.0% |
| 营收同比 | 1.5% | 2.0% |
| 净利润同比 | -29.2% | 92.4% |
| 每股收益（稀释后） | $0.45 | $-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HTOOFIX
| Q4 25 | $199.4M | $219.9M | ||
| Q3 25 | $243.5M | $205.6M | ||
| Q2 25 | $197.8M | $203.1M | ||
| Q1 25 | $164.9M | $193.6M | ||
| Q4 24 | $196.5M | $215.7M | ||
| Q3 24 | $216.7M | $196.6M | ||
| Q2 24 | $173.1M | $198.6M | ||
| Q1 24 | $150.0M | $188.6M |
净利润HTOOFIX
| Q4 25 | $16.2M | $-2.2M | ||
| Q3 25 | $45.1M | $-22.8M | ||
| Q2 25 | $24.7M | $-14.1M | ||
| Q1 25 | $16.6M | $-53.1M | ||
| Q4 24 | $22.9M | $-29.1M | ||
| Q3 24 | $38.7M | $-27.4M | ||
| Q2 24 | $20.7M | $-33.4M | ||
| Q1 24 | $11.7M | $-36.0M |
毛利率HTOOFIX
| Q4 25 | — | 71.1% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | — | 68.7% | ||
| Q1 25 | — | 62.8% | ||
| Q4 24 | — | 69.0% | ||
| Q3 24 | — | 68.7% | ||
| Q2 24 | — | 67.8% | ||
| Q1 24 | — | 67.5% |
营业利润率HTOOFIX
| Q4 25 | 16.6% | 0.2% | ||
| Q3 25 | 26.5% | -8.3% | ||
| Q2 25 | 22.2% | -7.9% | ||
| Q1 25 | 21.8% | -25.2% | ||
| Q4 24 | 22.2% | -5.3% | ||
| Q3 24 | 26.9% | -9.6% | ||
| Q2 24 | 23.4% | -12.5% | ||
| Q1 24 | 18.6% | -15.6% |
净利率HTOOFIX
| Q4 25 | 8.1% | -1.0% | ||
| Q3 25 | 18.5% | -11.1% | ||
| Q2 25 | 12.5% | -6.9% | ||
| Q1 25 | 10.0% | -27.4% | ||
| Q4 24 | 11.7% | -13.5% | ||
| Q3 24 | 17.8% | -13.9% | ||
| Q2 24 | 12.0% | -16.8% | ||
| Q1 24 | 7.8% | -19.1% |
每股收益（稀释后）HTOOFIX
| Q4 25 | $0.45 | $-0.05 | ||
| Q3 25 | $1.27 | $-0.57 | ||
| Q2 25 | $0.71 | $-0.36 | ||
| Q1 25 | $0.49 | $-1.35 | ||
| Q4 24 | $0.70 | $-0.76 | ||
| Q3 24 | $1.17 | $-0.71 | ||
| Q2 24 | $0.64 | $-0.88 | ||
| Q1 24 | $0.36 | $-0.95 |
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 | $82.0M |
| 总债务越低越好 | $1.9B | — |
| 股东权益账面价值 | $1.5B | $450.0M |
| 总资产 | $5.1B | $850.6M |
| 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HTOOFIX
| Q4 25 | $20.7M | $82.0M | ||
| Q3 25 | $11.3M | $62.9M | ||
| Q2 25 | $19.8M | $65.6M | ||
| Q1 25 | $23.7M | $58.0M | ||
| Q4 24 | $11.1M | $83.2M | ||
| Q3 24 | $4.0M | $30.1M | ||
| Q2 24 | $22.8M | $26.4M | ||
| Q1 24 | $4.5M | $27.0M |
总债务HTOOFIX
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | $157.2M | ||
| Q2 25 | — | $157.0M | ||
| Q1 25 | — | $156.9M | ||
| Q4 24 | $1.7B | $157.0M | ||
| Q3 24 | — | $118.5M | ||
| Q2 24 | — | $118.0M | ||
| Q1 24 | — | $118.2M |
股东权益HTOOFIX
| Q4 25 | $1.5B | $450.0M | ||
| Q3 25 | $1.5B | $442.5M | ||
| Q2 25 | $1.5B | $458.3M | ||
| Q1 25 | $1.4B | $458.3M | ||
| Q4 24 | $1.4B | $503.1M | ||
| Q3 24 | $1.3B | $525.9M | ||
| Q2 24 | $1.3B | $546.0M | ||
| Q1 24 | $1.2B | $570.3M |
总资产HTOOFIX
| Q4 25 | $5.1B | $850.6M | ||
| Q3 25 | $5.0B | $832.6M | ||
| Q2 25 | $4.8B | $837.2M | ||
| Q1 25 | $4.7B | $823.1M | ||
| Q4 24 | $4.7B | $893.3M | ||
| Q3 24 | $4.6B | $867.9M | ||
| Q2 24 | $4.4B | $882.0M | ||
| Q1 24 | $4.4B | $906.0M |
负债/权益比HTOOFIX
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | 1.26× | 0.31× | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.22× | ||
| Q1 24 | — | 0.21× |
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 | $27.7M |
| 自由现金流经营现金流 - 资本支出 | — | $16.8M |
| 自由现金流率自由现金流/营收 | — | 7.6% |
| 资本支出强度资本支出/营收 | — | 4.9% |
| 现金转化率经营现金流/净利润 | 3.92× | — |
| 过去12个月自由现金流最近4个季度 | — | $-1.3M |
8季度趋势，按日历期对齐
经营现金流HTOOFIX
| Q4 25 | $63.5M | $27.7M | ||
| Q3 25 | $77.3M | $12.4M | ||
| Q2 25 | $60.8M | $11.6M | ||
| Q1 25 | $43.2M | $-18.4M | ||
| Q4 24 | $41.5M | $23.7M | ||
| Q3 24 | $53.5M | $11.7M | ||
| Q2 24 | $49.3M | $9.0M | ||
| Q1 24 | $51.2M | $-18.6M |
自由现金流HTOOFIX
| Q4 25 | — | $16.8M | ||
| Q3 25 | — | $2.5M | ||
| Q2 25 | — | $4.5M | ||
| Q1 25 | — | $-25.1M | ||
| Q4 24 | — | $15.2M | ||
| Q3 24 | — | $6.3M | ||
| Q2 24 | — | $-360.0K | ||
| Q1 24 | — | $-29.1M |
自由现金流率HTOOFIX
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | -13.0% | ||
| Q4 24 | — | 7.0% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | -0.2% | ||
| Q1 24 | — | -15.4% |
资本支出强度HTOOFIX
| Q4 25 | — | 4.9% | ||
| Q3 25 | — | 4.8% | ||
| Q2 25 | — | 3.5% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 4.7% | ||
| Q1 24 | — | 5.6% |
现金转化率HTOOFIX
| Q4 25 | 3.92× | — | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 2.38× | — | ||
| Q1 24 | 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
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
OFIX
| Spinal Implants Biologics And Enabling Technologies | $113.6M | 52% |
| Bone Growth Therapies | $68.3M | 31% |
| Other | $22.7M | 10% |
| IT | $5.9M | 3% |
| GB | $3.5M | 2% |
| FR | $3.5M | 2% |
| DE | $2.3M | 1% |
