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H2O AMERICA（HTO）与SPORTSMAN'S WAREHOUSE HOLDINGS, INC.（SPWH）财务数据对比。点击上方公司名可切换其他公司
SPORTSMAN'S WAREHOUSE HOLDINGS, INC.的季度营收约是H2O AMERICA的1.7倍（$331.3M vs $199.4M），H2O AMERICA净利率更高（8.1% vs 0.0%，领先8.1%），SPORTSMAN'S WAREHOUSE HOLDINGS, INC.同比增速更快（2.2% vs 1.5%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs -5.4%）
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。
运动员仓库控股（Sportsman's Warehouse）是美国户外体育用品零售商，门店遍布全美29个州，主要面向狩猎、射击、露营、垂钓等各类户外休闲运动爱好者，销售户外服饰、鞋履及专业运动装备。
HTO vs SPWH — 直观对比
营收规模更大
SPWH
是对方的1.7倍
$199.4M
营收增速更快
SPWH
高出0.7%
1.5%
净利率更高
HTO
高出8.1%
0.0%
两年增速更快
HTO
近两年复合增速
-5.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $331.3M |
| 净利润 | $16.2M | $8.0K |
| 毛利率 | — | 32.8% |
| 营业利润率 | 16.6% | 1.3% |
| 净利率 | 8.1% | 0.0% |
| 营收同比 | 1.5% | 2.2% |
| 净利润同比 | -29.2% | -97.8% |
| 每股收益（稀释后） | $0.45 | $0.00 |
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HTOSPWH
| Q4 25 | $199.4M | $331.3M | ||
| Q3 25 | $243.5M | $293.9M | ||
| Q2 25 | $197.8M | $249.1M | ||
| Q1 25 | $164.9M | $340.4M | ||
| Q4 24 | $196.5M | $324.3M | ||
| Q3 24 | $216.7M | $288.7M | ||
| Q2 24 | $173.1M | $244.2M | ||
| Q1 24 | $150.0M | $370.4M |
净利润HTOSPWH
| Q4 25 | $16.2M | $8.0K | ||
| Q3 25 | $45.1M | $-7.1M | ||
| Q2 25 | $24.7M | $-21.3M | ||
| Q1 25 | $16.6M | $-8.7M | ||
| Q4 24 | $22.9M | $-364.0K | ||
| Q3 24 | $38.7M | $-5.9M | ||
| Q2 24 | $20.7M | $-18.1M | ||
| Q1 24 | $11.7M | $-8.7M |
毛利率HTOSPWH
| Q4 25 | — | 32.8% | ||
| Q3 25 | — | 32.0% | ||
| Q2 25 | — | 30.4% | ||
| Q1 25 | — | 30.4% | ||
| Q4 24 | — | 31.8% | ||
| Q3 24 | — | 31.2% | ||
| Q2 24 | — | 30.2% | ||
| Q1 24 | — | 26.8% |
营业利润率HTOSPWH
| Q4 25 | 16.6% | 1.3% | ||
| Q3 25 | 26.5% | -1.1% | ||
| Q2 25 | 22.2% | -7.9% | ||
| Q1 25 | 21.8% | 1.1% | ||
| Q4 24 | 22.2% | 1.0% | ||
| Q3 24 | 26.9% | -1.5% | ||
| Q2 24 | 23.4% | -8.4% | ||
| Q1 24 | 18.6% | -2.1% |
净利率HTOSPWH
| Q4 25 | 8.1% | 0.0% | ||
| Q3 25 | 18.5% | -2.4% | ||
| Q2 25 | 12.5% | -8.5% | ||
| Q1 25 | 10.0% | -2.6% | ||
| Q4 24 | 11.7% | -0.1% | ||
| Q3 24 | 17.8% | -2.0% | ||
| Q2 24 | 12.0% | -7.4% | ||
| Q1 24 | 7.8% | -2.4% |
每股收益（稀释后）HTOSPWH
| Q4 25 | $0.45 | $0.00 | ||
| Q3 25 | $1.27 | $-0.18 | ||
| Q2 25 | $0.71 | $-0.56 | ||
| Q1 25 | $0.49 | $-0.22 | ||
| Q4 24 | $0.70 | $-0.01 | ||
| Q3 24 | $1.17 | $-0.16 | ||
| Q2 24 | $0.64 | $-0.48 | ||
| Q1 24 | $0.36 | $-0.22 |
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 | $2.2M |
| 总债务越低越好 | $1.9B | $44.0M |
| 股东权益账面价值 | $1.5B | $209.5M |
| 总资产 | $5.1B | $913.9M |
| 负债/权益比越低杠杆越低 | 1.23× | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资HTOSPWH
| Q4 25 | $20.7M | $2.2M | ||
| Q3 25 | $11.3M | $1.8M | ||
| Q2 25 | $19.8M | $3.6M | ||
| Q1 25 | $23.7M | $2.8M | ||
| Q4 24 | $11.1M | $2.7M | ||
| Q3 24 | $4.0M | $2.6M | ||
| Q2 24 | $22.8M | $2.2M | ||
| Q1 24 | $4.5M | $3.1M |
总债务HTOSPWH
| Q4 25 | $1.9B | $44.0M | ||
| Q3 25 | — | $43.9M | ||
| Q2 25 | — | $24.1M | ||
| Q1 25 | — | $24.1M | ||
| Q4 24 | $1.7B | $24.0M | ||
| Q3 24 | — | $24.0M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HTOSPWH
| Q4 25 | $1.5B | $209.5M | ||
| Q3 25 | $1.5B | $208.9M | ||
| Q2 25 | $1.5B | $215.1M | ||
| Q1 25 | $1.4B | $235.7M | ||
| Q4 24 | $1.4B | $243.6M | ||
| Q3 24 | $1.3B | $243.0M | ||
| Q2 24 | $1.3B | $247.5M | ||
| Q1 24 | $1.2B | $264.6M |
总资产HTOSPWH
| Q4 25 | $5.1B | $913.9M | ||
| Q3 25 | $5.0B | $948.9M | ||
| Q2 25 | $4.8B | $929.7M | ||
| Q1 25 | $4.7B | $852.1M | ||
| Q4 24 | $4.7B | $967.7M | ||
| Q3 24 | $4.6B | $901.9M | ||
| Q2 24 | $4.4B | $930.4M | ||
| Q1 24 | $4.4B | $886.2M |
负债/权益比HTOSPWH
| Q4 25 | 1.23× | 0.21× | ||
| Q3 25 | — | 0.21× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | 1.26× | 0.10× | ||
| Q3 24 | — | 0.10× | ||
| 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 | $16.3M |
| 自由现金流经营现金流 - 资本支出 | — | $8.7M |
| 自由现金流率自由现金流/营收 | — | 2.6% |
| 资本支出强度资本支出/营收 | — | 2.3% |
| 现金转化率经营现金流/净利润 | 3.92× | 2038.00× |
| 过去12个月自由现金流最近4个季度 | — | $-39.7M |
8季度趋势，按日历期对齐
经营现金流HTOSPWH
| Q4 25 | $63.5M | $16.3M | ||
| Q3 25 | $77.3M | $-26.6M | ||
| Q2 25 | $60.8M | $-60.2M | ||
| Q1 25 | $43.2M | $52.8M | ||
| Q4 24 | $41.5M | $-2.5M | ||
| Q3 24 | $53.5M | $18.5M | ||
| Q2 24 | $49.3M | $-34.6M | ||
| Q1 24 | $51.2M | $68.9M |
自由现金流HTOSPWH
| Q4 25 | — | $8.7M | ||
| Q3 25 | — | $-33.9M | ||
| Q2 25 | — | $-64.0M | ||
| Q1 25 | — | $49.6M | ||
| Q4 24 | — | $-6.2M | ||
| Q3 24 | — | $14.1M | ||
| Q2 24 | — | $-38.0M | ||
| Q1 24 | — | $60.2M |
自由现金流率HTOSPWH
| Q4 25 | — | 2.6% | ||
| Q3 25 | — | -11.5% | ||
| Q2 25 | — | -25.7% | ||
| Q1 25 | — | 14.6% | ||
| Q4 24 | — | -1.9% | ||
| Q3 24 | — | 4.9% | ||
| Q2 24 | — | -15.5% | ||
| Q1 24 | — | 16.2% |
资本支出强度HTOSPWH
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 2.4% |
现金转化率HTOSPWH
| Q4 25 | 3.92× | 2038.00× | ||
| 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% |
SPWH
暂无分部数据
