vs
H2O AMERICA（HTO）与Childrens Place, Inc.（PLCE）财务数据对比。点击上方公司名可切换其他公司
Childrens Place, Inc.的季度营收约是H2O AMERICA的1.7倍（$339.5M vs $199.4M），H2O AMERICA净利率更高（8.1% vs -1.3%，领先9.4%），H2O AMERICA同比增速更快（1.5% vs -13.0%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs -13.6%）
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。
Children’s Place是专业儿童服饰零售商，产品主要以旗下自有品牌发售，涵盖Gymboree、Sugar & Jade、PJ Place、Crazy 8等。目前该品牌在美国、加拿大、波多黎各共开设约525家门店，同时通过两个线上渠道以及15个国家的5家加盟合作伙伴开展销售，产品涵盖上衣、裙装、鞋履、裤装、睡衣、背包等全品类儿童服饰配件。
HTO vs PLCE — 直观对比
营收规模更大
PLCE
是对方的1.7倍
$199.4M
营收增速更快
HTO
高出14.5%
-13.0%
净利率更高
HTO
高出9.4%
-1.3%
两年增速更快
HTO
近两年复合增速
-13.6%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $339.5M |
| 净利润 | $16.2M | $-4.3M |
| 毛利率 | — | 33.1% |
| 营业利润率 | 16.6% | 1.1% |
| 净利率 | 8.1% | -1.3% |
| 营收同比 | 1.5% | -13.0% |
| 净利润同比 | -29.2% | -121.5% |
| 每股收益（稀释后） | $0.45 | $-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HTOPLCE
| Q4 25 | $199.4M | $339.5M | ||
| Q3 25 | $243.5M | $298.0M | ||
| Q2 25 | $197.8M | $242.1M | ||
| Q1 25 | $164.9M | $408.6M | ||
| Q4 24 | $196.5M | $390.2M | ||
| Q3 24 | $216.7M | $319.7M | ||
| Q2 24 | $173.1M | $267.9M | ||
| Q1 24 | $150.0M | $455.0M |
净利润HTOPLCE
| Q4 25 | $16.2M | $-4.3M | ||
| Q3 25 | $45.1M | $-5.4M | ||
| Q2 25 | $24.7M | $-34.0M | ||
| Q1 25 | $16.6M | $-8.0M | ||
| Q4 24 | $22.9M | $20.1M | ||
| Q3 24 | $38.7M | $-32.1M | ||
| Q2 24 | $20.7M | $-37.8M | ||
| Q1 24 | $11.7M | $-128.8M |
毛利率HTOPLCE
| Q4 25 | — | 33.1% | ||
| Q3 25 | — | 34.0% | ||
| Q2 25 | — | 29.2% | ||
| Q1 25 | — | 28.5% | ||
| Q4 24 | — | 35.5% | ||
| Q3 24 | — | 35.0% | ||
| Q2 24 | — | 34.6% | ||
| Q1 24 | — | 21.8% |
营业利润率HTOPLCE
| Q4 25 | 16.6% | 1.1% | ||
| Q3 25 | 26.5% | 1.4% | ||
| Q2 25 | 22.2% | -10.0% | ||
| Q1 25 | 21.8% | 1.7% | ||
| Q4 24 | 22.2% | 7.5% | ||
| Q3 24 | 26.9% | -6.8% | ||
| Q2 24 | 23.4% | -10.4% | ||
| Q1 24 | 18.6% | -13.6% |
净利率HTOPLCE
| Q4 25 | 8.1% | -1.3% | ||
| Q3 25 | 18.5% | -1.8% | ||
| Q2 25 | 12.5% | -14.1% | ||
| Q1 25 | 10.0% | -2.0% | ||
| Q4 24 | 11.7% | 5.1% | ||
| Q3 24 | 17.8% | -10.0% | ||
| Q2 24 | 12.0% | -14.1% | ||
| Q1 24 | 7.8% | -28.3% |
每股收益（稀释后）HTOPLCE
| Q4 25 | $0.45 | $-0.19 | ||
| Q3 25 | $1.27 | $-0.24 | ||
| Q2 25 | $0.71 | $-1.57 | ||
| Q1 25 | $0.49 | $-0.60 | ||
| Q4 24 | $0.70 | $1.57 | ||
| Q3 24 | $1.17 | $-2.51 | ||
| Q2 24 | $0.64 | $-2.98 | ||
| Q1 24 | $0.36 | $-10.24 |
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 | $7.3M |
| 总债务越低越好 | $1.9B | $107.4M |
| 股东权益账面价值 | $1.5B | $-8.6M |
| 总资产 | $5.1B | $762.5M |
| 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HTOPLCE
| Q4 25 | $20.7M | $7.3M | ||
| Q3 25 | $11.3M | $7.8M | ||
| Q2 25 | $19.8M | $5.7M | ||
| Q1 25 | $23.7M | $5.3M | ||
| Q4 24 | $11.1M | $5.7M | ||
| Q3 24 | $4.0M | $9.6M | ||
| Q2 24 | $22.8M | $13.0M | ||
| Q1 24 | $4.5M | $13.6M |
总债务HTOPLCE
| Q4 25 | $1.9B | $107.4M | ||
| Q3 25 | — | $107.2M | ||
| Q2 25 | — | $107.0M | ||
| Q1 25 | — | $166.0M | ||
| Q4 24 | $1.7B | $165.7M | ||
| Q3 24 | — | $165.4M | ||
| Q2 24 | — | $166.6M | ||
| Q1 24 | — | $49.8M |
股东权益HTOPLCE
| Q4 25 | $1.5B | $-8.6M | ||
| Q3 25 | $1.5B | $-4.9M | ||
| Q2 25 | $1.5B | $1.4M | ||
| Q1 25 | $1.4B | $-59.4M | ||
| Q4 24 | $1.4B | $-49.6M | ||
| Q3 24 | $1.3B | $-68.9M | ||
| Q2 24 | $1.3B | $-34.9M | ||
| Q1 24 | $1.2B | $-9.0M |
总资产HTOPLCE
| Q4 25 | $5.1B | $762.5M | ||
| Q3 25 | $5.0B | $805.1M | ||
| Q2 25 | $4.8B | $779.6M | ||
| Q1 25 | $4.7B | $747.6M | ||
| Q4 24 | $4.7B | $888.8M | ||
| Q3 24 | $4.6B | $921.4M | ||
| Q2 24 | $4.4B | $848.3M | ||
| Q1 24 | $4.4B | $800.3M |
负债/权益比HTOPLCE
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 75.63× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $6.2M |
| 自由现金流经营现金流 - 资本支出 | — | $-3.4M |
| 自由现金流率自由现金流/营收 | — | -1.0% |
| 资本支出强度资本支出/营收 | — | 2.8% |
| 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 | — | $39.5M |
8季度趋势，按日历期对齐
经营现金流HTOPLCE
| Q4 25 | $63.5M | $6.2M | ||
| Q3 25 | $77.3M | $-30.5M | ||
| Q2 25 | $60.8M | $-43.0M | ||
| Q1 25 | $43.2M | $121.3M | ||
| Q4 24 | $41.5M | $-44.2M | ||
| Q3 24 | $53.5M | $-83.9M | ||
| Q2 24 | $49.3M | $-110.8M | ||
| Q1 24 | $51.2M | $135.4M |
自由现金流HTOPLCE
| Q4 25 | — | $-3.4M | ||
| Q3 25 | — | $-31.9M | ||
| Q2 25 | — | $-46.4M | ||
| Q1 25 | — | $121.2M | ||
| Q4 24 | — | $-47.7M | ||
| Q3 24 | — | $-91.7M | ||
| Q2 24 | — | $-115.5M | ||
| Q1 24 | — | $132.2M |
自由现金流率HTOPLCE
| Q4 25 | — | -1.0% | ||
| Q3 25 | — | -10.7% | ||
| Q2 25 | — | -19.2% | ||
| Q1 25 | — | 29.7% | ||
| Q4 24 | — | -12.2% | ||
| Q3 24 | — | -28.7% | ||
| Q2 24 | — | -43.1% | ||
| Q1 24 | — | 29.1% |
资本支出强度HTOPLCE
| Q4 25 | — | 2.8% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 1.8% | ||
| Q1 24 | — | 0.7% |
现金转化率HTOPLCE
| Q4 25 | 3.92× | — | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | -2.20× | ||
| 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% |
PLCE
| The Childrens Place US | $307.4M | 91% |
| The Childrens Place International | $32.1M | 9% |
| Gift Cards | $1.7M | 1% |
