vs
H2O AMERICA（HTO）与ONESPAWORLD HOLDINGS Ltd（OSW）财务数据对比。点击上方公司名可切换其他公司
ONESPAWORLD HOLDINGS Ltd的季度营收约是H2O AMERICA的1.2倍（$242.1M vs $199.4M），H2O AMERICA净利率更高（8.1% vs 5.0%，领先3.2%），ONESPAWORLD HOLDINGS Ltd同比增速更快（11.5% vs 1.5%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs 7.1%）
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。
HTO vs OSW — 直观对比
营收规模更大
OSW
是对方的1.2倍
$199.4M
营收增速更快
OSW
高出10.0%
1.5%
净利率更高
HTO
高出3.2%
5.0%
两年增速更快
HTO
近两年复合增速
7.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $242.1M |
| 净利润 | $16.2M | $12.1M |
| 毛利率 | — | — |
| 营业利润率 | 16.6% | 6.8% |
| 净利率 | 8.1% | 5.0% |
| 营收同比 | 1.5% | 11.5% |
| 净利润同比 | -29.2% | -16.2% |
| 每股收益（稀释后） | $0.45 | $0.12 |
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HTOOSW
| Q4 25 | $199.4M | $242.1M | ||
| Q3 25 | $243.5M | $258.5M | ||
| Q2 25 | $197.8M | $240.7M | ||
| Q1 25 | $164.9M | $219.6M | ||
| Q4 24 | $196.5M | $217.2M | ||
| Q3 24 | $216.7M | $241.7M | ||
| Q2 24 | $173.1M | $224.9M | ||
| Q1 24 | $150.0M | $211.2M |
净利润HTOOSW
| Q4 25 | $16.2M | $12.1M | ||
| Q3 25 | $45.1M | $24.3M | ||
| Q2 25 | $24.7M | $19.9M | ||
| Q1 25 | $16.6M | $15.3M | ||
| Q4 24 | $22.9M | $14.4M | ||
| Q3 24 | $38.7M | $21.6M | ||
| Q2 24 | $20.7M | $15.8M | ||
| Q1 24 | $11.7M | $21.2M |
营业利润率HTOOSW
| Q4 25 | 16.6% | 6.8% | ||
| Q3 25 | 26.5% | 10.2% | ||
| Q2 25 | 22.2% | 9.2% | ||
| Q1 25 | 21.8% | 7.7% | ||
| Q4 24 | 22.2% | 7.9% | ||
| Q3 24 | 26.9% | 10.3% | ||
| Q2 24 | 23.4% | 8.4% | ||
| Q1 24 | 18.6% | 8.0% |
净利率HTOOSW
| Q4 25 | 8.1% | 5.0% | ||
| Q3 25 | 18.5% | 9.4% | ||
| Q2 25 | 12.5% | 8.3% | ||
| Q1 25 | 10.0% | 7.0% | ||
| Q4 24 | 11.7% | 6.6% | ||
| Q3 24 | 17.8% | 8.9% | ||
| Q2 24 | 12.0% | 7.0% | ||
| Q1 24 | 7.8% | 10.0% |
每股收益（稀释后）HTOOSW
| Q4 25 | $0.45 | $0.12 | ||
| Q3 25 | $1.27 | $0.23 | ||
| Q2 25 | $0.71 | $0.19 | ||
| Q1 25 | $0.49 | $0.15 | ||
| Q4 24 | $0.70 | $0.13 | ||
| Q3 24 | $1.17 | $0.20 | ||
| Q2 24 | $0.64 | $0.15 | ||
| Q1 24 | $0.36 | $0.21 |
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 | $20.7M | $16.3M |
| 总债务越低越好 | $1.9B | $84.0M |
| 股东权益账面价值 | $1.5B | $542.6M |
| 总资产 | $5.1B | $707.1M |
| 负债/权益比越低杠杆越低 | 1.23× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资HTOOSW
| Q4 25 | $20.7M | $16.3M | ||
| Q3 25 | $11.3M | $29.6M | ||
| Q2 25 | $19.8M | $35.0M | ||
| Q1 25 | $23.7M | $22.6M | ||
| Q4 24 | $11.1M | $57.4M | ||
| Q3 24 | $4.0M | $48.8M | ||
| Q2 24 | $22.8M | $62.5M | ||
| Q1 24 | $4.5M | $65.4M |
总债务HTOOSW
| Q4 25 | $1.9B | $84.0M | ||
| Q3 25 | — | $85.2M | ||
| Q2 25 | — | $96.2M | ||
| Q1 25 | — | $97.4M | ||
| Q4 24 | $1.7B | $98.6M | ||
| Q3 24 | — | $98.7M | ||
| Q2 24 | — | $123.8M | ||
| Q1 24 | — | $138.6M |
股东权益HTOOSW
| Q4 25 | $1.5B | $542.6M | ||
| Q3 25 | $1.5B | $552.8M | ||
| Q2 25 | $1.5B | $548.3M | ||
| Q1 25 | $1.4B | $530.6M | ||
| Q4 24 | $1.4B | $554.5M | ||
| Q3 24 | $1.3B | $540.1M | ||
| Q2 24 | $1.3B | $532.7M | ||
| Q1 24 | $1.2B | $515.5M |
总资产HTOOSW
| Q4 25 | $5.1B | $707.1M | ||
| Q3 25 | $5.0B | $732.6M | ||
| Q2 25 | $4.8B | $731.8M | ||
| Q1 25 | $4.7B | $708.7M | ||
| Q4 24 | $4.7B | $746.4M | ||
| Q3 24 | $4.6B | $734.0M | ||
| Q2 24 | $4.4B | $756.8M | ||
| Q1 24 | $4.4B | $763.6M |
负债/权益比HTOOSW
| Q4 25 | 1.23× | 0.15× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | 1.26× | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.23× | ||
| 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 | $63.5M | $20.0M |
| 自由现金流经营现金流 - 资本支出 | — | $14.9M |
| 自由现金流率自由现金流/营收 | — | 6.2% |
| 资本支出强度资本支出/营收 | — | 2.1% |
| 现金转化率经营现金流/净利润 | 3.92× | 1.65× |
| 过去12个月自由现金流最近4个季度 | — | $68.4M |
8季度趋势，按日历期对齐
经营现金流HTOOSW
| Q4 25 | $63.5M | $20.0M | ||
| Q3 25 | $77.3M | $33.2M | ||
| Q2 25 | $60.8M | $20.3M | ||
| Q1 25 | $43.2M | $10.1M | ||
| Q4 24 | $41.5M | $16.6M | ||
| Q3 24 | $53.5M | $28.6M | ||
| Q2 24 | $49.3M | $18.7M | ||
| Q1 24 | $51.2M | $15.0M |
自由现金流HTOOSW
| Q4 25 | — | $14.9M | ||
| Q3 25 | — | $27.6M | ||
| Q2 25 | — | $17.6M | ||
| Q1 25 | — | $8.4M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | — | $27.5M | ||
| Q2 24 | — | $17.6M | ||
| Q1 24 | — | $13.7M |
自由现金流率HTOOSW
| Q4 25 | — | 6.2% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 7.3% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 11.4% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 6.5% |
资本支出强度HTOOSW
| Q4 25 | — | 2.1% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.6% |
现金转化率HTOOSW
| Q4 25 | 3.92× | 1.65× | ||
| Q3 25 | 1.71× | 1.36× | ||
| Q2 25 | 2.47× | 1.02× | ||
| Q1 25 | 2.61× | 0.66× | ||
| Q4 24 | 1.81× | 1.15× | ||
| Q3 24 | 1.39× | 1.33× | ||
| Q2 24 | 2.38× | 1.19× | ||
| Q1 24 | 4.38× | 0.71× |
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% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
