vs
H2O AMERICA（HTO）与Thryv Holdings, Inc.（THRY）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Thryv Holdings, Inc.的1.2倍（$199.4M vs $167.7M），H2O AMERICA净利率更高（8.1% vs 2.7%，领先5.4%），H2O AMERICA同比增速更快（1.5% vs -7.5%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs -13.5%）
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。
Thryv Holdings, Inc.是一家上市软件服务（SaaS）企业，面向中小企业提供客户关系管理与网络声誉管理软件解决方案。公司总部位于得克萨斯州达拉斯，业务覆盖美国48个州，现有员工超过2400名，其前身是多家黄页企业组成的集团。
HTO vs THRY — 直观对比
营收规模更大
HTO
是对方的1.2倍
$167.7M
营收增速更快
HTO
高出9.0%
-7.5%
净利率更高
HTO
高出5.4%
2.7%
两年增速更快
HTO
近两年复合增速
-13.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $167.7M |
| 净利润 | $16.2M | $4.5M |
| 毛利率 | — | 65.2% |
| 营业利润率 | 16.6% | 37.3% |
| 净利率 | 8.1% | 2.7% |
| 营收同比 | 1.5% | -7.5% |
| 净利润同比 | -29.2% | 147.2% |
| 每股收益（稀释后） | $0.45 | $0.10 |
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HTOTHRY
| Q1 26 | — | $167.7M | ||
| Q4 25 | $199.4M | $191.6M | ||
| Q3 25 | $243.5M | $201.6M | ||
| Q2 25 | $197.8M | $210.5M | ||
| Q1 25 | $164.9M | $181.4M | ||
| Q4 24 | $196.5M | $186.6M | ||
| Q3 24 | $216.7M | $179.9M | ||
| Q2 24 | $173.1M | $224.1M |
净利润HTOTHRY
| Q1 26 | — | $4.5M | ||
| Q4 25 | $16.2M | $-9.7M | ||
| Q3 25 | $45.1M | $5.7M | ||
| Q2 25 | $24.7M | $13.9M | ||
| Q1 25 | $16.6M | $-9.6M | ||
| Q4 24 | $22.9M | $7.9M | ||
| Q3 24 | $38.7M | $-96.1M | ||
| Q2 24 | $20.7M | $5.5M |
毛利率HTOTHRY
| Q1 26 | — | 65.2% | ||
| Q4 25 | — | 68.0% | ||
| Q3 25 | — | 67.7% | ||
| Q2 25 | — | 69.7% | ||
| Q1 25 | — | 65.8% | ||
| Q4 24 | — | 65.9% | ||
| Q3 24 | — | 62.3% | ||
| Q2 24 | — | 66.3% |
营业利润率HTOTHRY
| Q1 26 | — | 37.3% | ||
| Q4 25 | 16.6% | 5.3% | ||
| Q3 25 | 26.5% | 9.9% | ||
| Q2 25 | 22.2% | 14.0% | ||
| Q1 25 | 21.8% | -1.7% | ||
| Q4 24 | 22.2% | -3.9% | ||
| Q3 24 | 26.9% | -49.2% | ||
| Q2 24 | 23.4% | 14.0% |
净利率HTOTHRY
| Q1 26 | — | 2.7% | ||
| Q4 25 | 8.1% | -5.0% | ||
| Q3 25 | 18.5% | 2.8% | ||
| Q2 25 | 12.5% | 6.6% | ||
| Q1 25 | 10.0% | -5.3% | ||
| Q4 24 | 11.7% | 4.2% | ||
| Q3 24 | 17.8% | -53.4% | ||
| Q2 24 | 12.0% | 2.5% |
每股收益（稀释后）HTOTHRY
| Q1 26 | — | $0.10 | ||
| Q4 25 | $0.45 | $-0.21 | ||
| Q3 25 | $1.27 | $0.13 | ||
| Q2 25 | $0.71 | $0.31 | ||
| Q1 25 | $0.49 | $-0.22 | ||
| Q4 24 | $0.70 | $0.28 | ||
| Q3 24 | $1.17 | $-2.65 | ||
| Q2 24 | $0.64 | $0.15 |
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 | $8.0M |
| 总债务越低越好 | $1.9B | — |
| 股东权益账面价值 | $1.5B | $225.4M |
| 总资产 | $5.1B | $693.7M |
| 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HTOTHRY
| Q1 26 | — | $8.0M | ||
| Q4 25 | $20.7M | $10.8M | ||
| Q3 25 | $11.3M | $11.6M | ||
| Q2 25 | $19.8M | $10.8M | ||
| Q1 25 | $23.7M | $11.0M | ||
| Q4 24 | $11.1M | $16.3M | ||
| Q3 24 | $4.0M | $12.5M | ||
| Q2 24 | $22.8M | $15.5M |
总债务HTOTHRY
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | $253.5M | ||
| Q3 25 | — | $268.2M | ||
| Q2 25 | — | $275.6M | ||
| Q1 25 | — | $299.0M | ||
| Q4 24 | $1.7B | $284.3M | ||
| Q3 24 | — | $307.8M | ||
| Q2 24 | — | $342.1M |
股东权益HTOTHRY
| Q1 26 | — | $225.4M | ||
| Q4 25 | $1.5B | $218.1M | ||
| Q3 25 | $1.5B | $221.1M | ||
| Q2 25 | $1.5B | $214.9M | ||
| Q1 25 | $1.4B | $193.2M | ||
| Q4 24 | $1.4B | $196.9M | ||
| Q3 24 | $1.3B | $94.5M | ||
| Q2 24 | $1.3B | $183.1M |
总资产HTOTHRY
| Q1 26 | — | $693.7M | ||
| Q4 25 | $5.1B | $688.6M | ||
| Q3 25 | $5.0B | $701.8M | ||
| Q2 25 | $4.8B | $687.7M | ||
| Q1 25 | $4.7B | $703.7M | ||
| Q4 24 | $4.7B | $712.2M | ||
| Q3 24 | $4.6B | $654.8M | ||
| Q2 24 | $4.4B | $785.5M |
负债/权益比HTOTHRY
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 1.16× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | — | 1.28× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | 1.26× | 1.44× | ||
| Q3 24 | — | 3.26× | ||
| Q2 24 | — | 1.87× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | — | $-5.5M |
| 自由现金流率自由现金流/营收 | — | -3.3% |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | $43.3M |
8季度趋势，按日历期对齐
经营现金流HTOTHRY
| Q1 26 | — | — | ||
| Q4 25 | $63.5M | $22.2M | ||
| Q3 25 | $77.3M | $22.2M | ||
| Q2 25 | $60.8M | $29.6M | ||
| Q1 25 | $43.2M | $-10.5M | ||
| Q4 24 | $41.5M | $26.1M | ||
| Q3 24 | $53.5M | $36.0M | ||
| Q2 24 | $49.3M | $22.2M |
自由现金流HTOTHRY
| Q1 26 | — | $-5.5M | ||
| Q4 25 | — | $12.3M | ||
| Q3 25 | — | $14.6M | ||
| Q2 25 | — | $21.8M | ||
| Q1 25 | — | $-17.6M | ||
| Q4 24 | — | $17.3M | ||
| Q3 24 | — | $27.5M | ||
| Q2 24 | — | $13.3M |
自由现金流率HTOTHRY
| Q1 26 | — | -3.3% | ||
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 7.2% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | -9.7% | ||
| Q4 24 | — | 9.3% | ||
| Q3 24 | — | 15.3% | ||
| Q2 24 | — | 5.9% |
资本支出强度HTOTHRY
| Q1 26 | — | — | ||
| Q4 25 | — | 5.2% | ||
| Q3 25 | — | 3.8% | ||
| Q2 25 | — | 3.7% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | — | 4.7% | ||
| Q3 24 | — | 4.7% | ||
| Q2 24 | — | 4.0% |
现金转化率HTOTHRY
| Q1 26 | — | — | ||
| Q4 25 | 3.92× | — | ||
| Q3 25 | 1.71× | 3.93× | ||
| Q2 25 | 2.47× | 2.12× | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | 3.32× | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 2.38× | 4.01× |
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% |
THRY
| SaaS | $116.7M | 70% |
| Other | $50.9M | 30% |
