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H2O AMERICA（HTO）与PagerDuty, Inc.（PD）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PagerDuty, Inc.的1.6倍（$199.4M vs $124.5M），PagerDuty, Inc.净利率更高（129.7% vs 8.1%，领先121.6%），PagerDuty, Inc.同比增速更快（4.7% vs 1.5%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs 5.9%）
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。
PagerDuty是一家美国云计算企业，主打面向IT运维部门的SaaS事件管理平台，可帮助企业实时响应运维异常、快速定位并处理故障，保障业务系统稳定运行，目前已成为全球IT运维领域广受认可的数字化解决方案服务商。
HTO vs PD — 直观对比
营收规模更大
HTO
是对方的1.6倍
$124.5M
营收增速更快
PD
高出3.2%
1.5%
净利率更高
PD
高出121.6%
8.1%
两年增速更快
HTO
近两年复合增速
5.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $124.5M |
| 净利润 | $16.2M | $161.6M |
| 毛利率 | — | 85.3% |
| 营业利润率 | 16.6% | 6.5% |
| 净利率 | 8.1% | 129.7% |
| 营收同比 | 1.5% | 4.7% |
| 净利润同比 | -29.2% | 2827.7% |
| 每股收益（稀释后） | $0.45 | $1.69 |
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HTOPD
| Q4 25 | $199.4M | $124.5M | ||
| Q3 25 | $243.5M | $123.4M | ||
| Q2 25 | $197.8M | $119.8M | ||
| Q1 25 | $164.9M | $121.4M | ||
| Q4 24 | $196.5M | $118.9M | ||
| Q3 24 | $216.7M | $115.9M | ||
| Q2 24 | $173.1M | $111.2M | ||
| Q1 24 | $150.0M | $111.1M |
净利润HTOPD
| Q4 25 | $16.2M | $161.6M | ||
| Q3 25 | $45.1M | $9.6M | ||
| Q2 25 | $24.7M | $-7.2M | ||
| Q1 25 | $16.6M | $-8.8M | ||
| Q4 24 | $22.9M | $-5.9M | ||
| Q3 24 | $38.7M | $-10.9M | ||
| Q2 24 | $20.7M | $-17.1M | ||
| Q1 24 | $11.7M | $-28.2M |
毛利率HTOPD
| Q4 25 | — | 85.3% | ||
| Q3 25 | — | 84.6% | ||
| Q2 25 | — | 84.0% | ||
| Q1 25 | — | 83.6% | ||
| Q4 24 | — | 83.0% | ||
| Q3 24 | — | 82.7% | ||
| Q2 24 | — | 82.6% | ||
| Q1 24 | — | 81.7% |
营业利润率HTOPD
| Q4 25 | 16.6% | 6.5% | ||
| Q3 25 | 26.5% | 2.9% | ||
| Q2 25 | 22.2% | -8.6% | ||
| Q1 25 | 21.8% | -9.6% | ||
| Q4 24 | 22.2% | -8.7% | ||
| Q3 24 | 26.9% | -13.8% | ||
| Q2 24 | 23.4% | -19.5% | ||
| Q1 24 | 18.6% | -30.1% |
净利率HTOPD
| Q4 25 | 8.1% | 129.7% | ||
| Q3 25 | 18.5% | 7.8% | ||
| Q2 25 | 12.5% | -6.0% | ||
| Q1 25 | 10.0% | -7.2% | ||
| Q4 24 | 11.7% | -5.0% | ||
| Q3 24 | 17.8% | -9.4% | ||
| Q2 24 | 12.0% | -15.4% | ||
| Q1 24 | 7.8% | -25.3% |
每股收益（稀释后）HTOPD
| Q4 25 | $0.45 | $1.69 | ||
| Q3 25 | $1.27 | $0.10 | ||
| Q2 25 | $0.71 | $-0.07 | ||
| Q1 25 | $0.49 | $-0.12 | ||
| Q4 24 | $0.70 | $-0.07 | ||
| Q3 24 | $1.17 | $-0.14 | ||
| Q2 24 | $0.64 | $-0.26 | ||
| Q1 24 | $0.36 | $-0.34 |
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 | $547.8M |
| 总债务越低越好 | $1.9B | — |
| 股东权益账面价值 | $1.5B | $320.5M |
| 总资产 | $5.1B | $1.0B |
| 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HTOPD
| Q4 25 | $20.7M | $547.8M | ||
| Q3 25 | $11.3M | $567.9M | ||
| Q2 25 | $19.8M | $597.1M | ||
| Q1 25 | $23.7M | $570.8M | ||
| Q4 24 | $11.1M | $542.2M | ||
| Q3 24 | $4.0M | $599.3M | ||
| Q2 24 | $22.8M | $592.8M | ||
| Q1 24 | $4.5M | $571.2M |
总债务HTOPD
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $484.5M | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $489.5M |
股东权益HTOPD
| Q4 25 | $1.5B | $320.5M | ||
| Q3 25 | $1.5B | $180.7M | ||
| Q2 25 | $1.5B | $145.7M | ||
| Q1 25 | $1.4B | $129.8M | ||
| Q4 24 | $1.4B | $111.6M | ||
| Q3 24 | $1.3B | $164.7M | ||
| Q2 24 | $1.3B | $174.0M | ||
| Q1 24 | $1.2B | $171.6M |
总资产HTOPD
| Q4 25 | $5.1B | $1.0B | ||
| Q3 25 | $5.0B | $891.5M | ||
| Q2 25 | $4.8B | $926.8M | ||
| Q1 25 | $4.7B | $927.3M | ||
| Q4 24 | $4.7B | $866.8M | ||
| Q3 24 | $4.6B | $916.0M | ||
| Q2 24 | $4.4B | $924.0M | ||
| Q1 24 | $4.4B | $925.3M |
负债/权益比HTOPD
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.73× | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.85× |
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 | $24.8M |
| 自由现金流经营现金流 - 资本支出 | — | $24.1M |
| 自由现金流率自由现金流/营收 | — | 19.3% |
| 资本支出强度资本支出/营收 | — | 0.6% |
| 现金转化率经营现金流/净利润 | 3.92× | 0.15× |
| 过去12个月自由现金流最近4个季度 | — | $117.6M |
8季度趋势，按日历期对齐
经营现金流HTOPD
| Q4 25 | $63.5M | $24.8M | ||
| Q3 25 | $77.3M | $34.0M | ||
| Q2 25 | $60.8M | $30.7M | ||
| Q1 25 | $43.2M | $31.4M | ||
| Q4 24 | $41.5M | $22.1M | ||
| Q3 24 | $53.5M | $35.8M | ||
| Q2 24 | $49.3M | $28.6M | ||
| Q1 24 | $51.2M | $22.2M |
自由现金流HTOPD
| Q4 25 | — | $24.1M | ||
| Q3 25 | — | $33.1M | ||
| Q2 25 | — | $30.2M | ||
| Q1 25 | — | $30.3M | ||
| Q4 24 | — | $21.5M | ||
| Q3 24 | — | $35.1M | ||
| Q2 24 | — | $28.2M | ||
| Q1 24 | — | $21.2M |
自由现金流率HTOPD
| Q4 25 | — | 19.3% | ||
| Q3 25 | — | 26.8% | ||
| Q2 25 | — | 25.2% | ||
| Q1 25 | — | 24.9% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | — | 30.3% | ||
| Q2 24 | — | 25.4% | ||
| Q1 24 | — | 19.1% |
资本支出强度HTOPD
| Q4 25 | — | 0.6% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.9% |
现金转化率HTOPD
| Q4 25 | 3.92× | 0.15× | ||
| Q3 25 | 1.71× | 3.55× | ||
| 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% |
PD
| US | $88.8M | 71% |
| Non Us | $35.7M | 29% |
