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H2O AMERICA（HTO）与Walker & Dunlop, Inc.（WD）财务数据对比。点击上方公司名可切换其他公司
Walker & Dunlop, Inc.的季度营收约是H2O AMERICA的1.7倍（$340.0M vs $199.4M），H2O AMERICA净利率更高（8.1% vs -12.9%，领先21.0%），H2O AMERICA同比增速更快（1.5% vs -0.4%），过去两年Walker & Dunlop, Inc.的营收复合增速更高（22.1% vs 15.3%）
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。
Walker & Dunlop, Inc.是美国乃至全球规模领先的商业地产金融与咨询服务机构，为客户提供覆盖商业地产领域的多元金融解决方案及专业咨询服务，业务辐射全球多个市场，在行业内拥有深厚的资源积累与广泛的市场认可度。
HTO vs WD — 直观对比
营收规模更大
WD
是对方的1.7倍
$199.4M
营收增速更快
HTO
高出1.9%
-0.4%
净利率更高
HTO
高出21.0%
-12.9%
两年增速更快
WD
近两年复合增速
15.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $340.0M |
| 净利润 | $16.2M | $-13.9M |
| 毛利率 | — | — |
| 营业利润率 | 16.6% | -17.2% |
| 净利率 | 8.1% | -12.9% |
| 营收同比 | 1.5% | -0.4% |
| 净利润同比 | -29.2% | -131.0% |
| 每股收益（稀释后） | $0.45 | $-0.41 |
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HTOWD
| Q4 25 | $199.4M | $340.0M | ||
| Q3 25 | $243.5M | $337.7M | ||
| Q2 25 | $197.8M | $319.2M | ||
| Q1 25 | $164.9M | $237.4M | ||
| Q4 24 | $196.5M | $341.5M | ||
| Q3 24 | $216.7M | $292.3M | ||
| Q2 24 | $173.1M | $270.7M | ||
| Q1 24 | $150.0M | $228.1M |
净利润HTOWD
| Q4 25 | $16.2M | $-13.9M | ||
| Q3 25 | $45.1M | $33.5M | ||
| Q2 25 | $24.7M | $34.0M | ||
| Q1 25 | $16.6M | $2.8M | ||
| Q4 24 | $22.9M | $44.8M | ||
| Q3 24 | $38.7M | $28.8M | ||
| Q2 24 | $20.7M | $22.7M | ||
| Q1 24 | $11.7M | $11.9M |
营业利润率HTOWD
| Q4 25 | 16.6% | -17.2% | ||
| Q3 25 | 26.5% | 13.6% | ||
| Q2 25 | 22.2% | 14.5% | ||
| Q1 25 | 21.8% | 2.2% | ||
| Q4 24 | 22.2% | 15.3% | ||
| Q3 24 | 26.9% | 12.8% | ||
| Q2 24 | 23.4% | 10.4% | ||
| Q1 24 | 18.6% | 6.0% |
净利率HTOWD
| Q4 25 | 8.1% | -12.9% | ||
| Q3 25 | 18.5% | 9.9% | ||
| Q2 25 | 12.5% | 10.6% | ||
| Q1 25 | 10.0% | 1.2% | ||
| Q4 24 | 11.7% | 13.1% | ||
| Q3 24 | 17.8% | 9.9% | ||
| Q2 24 | 12.0% | 8.4% | ||
| Q1 24 | 7.8% | 5.2% |
每股收益（稀释后）HTOWD
| Q4 25 | $0.45 | $-0.41 | ||
| Q3 25 | $1.27 | $0.98 | ||
| Q2 25 | $0.71 | $0.99 | ||
| Q1 25 | $0.49 | $0.08 | ||
| Q4 24 | $0.70 | $1.32 | ||
| Q3 24 | $1.17 | $0.85 | ||
| Q2 24 | $0.64 | $0.67 | ||
| Q1 24 | $0.36 | $0.35 |
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 | $299.3M |
| 总债务越低越好 | $1.9B | — |
| 股东权益账面价值 | $1.5B | $1.7B |
| 总资产 | $5.1B | $5.1B |
| 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HTOWD
| Q4 25 | $20.7M | $299.3M | ||
| Q3 25 | $11.3M | $274.8M | ||
| Q2 25 | $19.8M | $233.7M | ||
| Q1 25 | $23.7M | $181.0M | ||
| Q4 24 | $11.1M | $279.3M | ||
| Q3 24 | $4.0M | $179.8M | ||
| Q2 24 | $22.8M | $208.1M | ||
| Q1 24 | $4.5M | $216.5M |
总债务HTOWD
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HTOWD
| Q4 25 | $1.5B | $1.7B | ||
| Q3 25 | $1.5B | $1.8B | ||
| Q2 25 | $1.5B | $1.8B | ||
| Q1 25 | $1.4B | $1.7B | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $1.3B | $1.7B | ||
| Q2 24 | $1.3B | $1.7B | ||
| Q1 24 | $1.2B | $1.7B |
总资产HTOWD
| Q4 25 | $5.1B | $5.1B | ||
| Q3 25 | $5.0B | $5.8B | ||
| Q2 25 | $4.8B | $4.7B | ||
| Q1 25 | $4.7B | $4.5B | ||
| Q4 24 | $4.7B | $4.4B | ||
| Q3 24 | $4.6B | $4.6B | ||
| Q2 24 | $4.4B | $4.2B | ||
| Q1 24 | $4.4B | $3.8B |
负债/权益比HTOWD
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| 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 | $-664.3M |
| 自由现金流经营现金流 - 资本支出 | — | $-680.1M |
| 自由现金流率自由现金流/营收 | — | -200.0% |
| 资本支出强度资本支出/营收 | — | 4.6% |
| 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 | — | $-2.2B |
8季度趋势，按日历期对齐
经营现金流HTOWD
| Q4 25 | $63.5M | $-664.3M | ||
| Q3 25 | $77.3M | $-948.1M | ||
| Q2 25 | $60.8M | $-238.5M | ||
| Q1 25 | $43.2M | $-281.1M | ||
| Q4 24 | $41.5M | $129.4M | ||
| Q3 24 | $53.5M | $-202.0M | ||
| Q2 24 | $49.3M | $-237.8M | ||
| Q1 24 | $51.2M | $38.4M |
自由现金流HTOWD
| Q4 25 | — | $-680.1M | ||
| Q3 25 | — | $-950.4M | ||
| Q2 25 | — | $-241.0M | ||
| Q1 25 | — | $-284.7M | ||
| Q4 24 | — | $116.4M | ||
| Q3 24 | — | $-204.0M | ||
| Q2 24 | — | $-241.7M | ||
| Q1 24 | — | $35.2M |
自由现金流率HTOWD
| Q4 25 | — | -200.0% | ||
| Q3 25 | — | -281.5% | ||
| Q2 25 | — | -75.5% | ||
| Q1 25 | — | -120.0% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | — | -69.8% | ||
| Q2 24 | — | -89.3% | ||
| Q1 24 | — | 15.4% |
资本支出强度HTOWD
| Q4 25 | — | 4.6% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 3.8% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 1.4% |
现金转化率HTOWD
| Q4 25 | 3.92× | — | ||
| Q3 25 | 1.71× | -28.34× | ||
| Q2 25 | 2.47× | -7.02× | ||
| Q1 25 | 2.61× | -102.07× | ||
| Q4 24 | 1.81× | 2.89× | ||
| Q3 24 | 1.39× | -7.01× | ||
| Q2 24 | 2.38× | -10.49× | ||
| Q1 24 | 4.38× | 3.24× |
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% |
WD
暂无分部数据
