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H2O AMERICA（HTO）与WD 40 CO（WDFC）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WD 40 CO的1.3倍（$199.4M vs $154.4M），WD 40 CO净利率更高（11.3% vs 8.1%，领先3.2%），H2O AMERICA同比增速更快（1.5% vs 0.6%），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。
WD-40公司是全球知名的消费及工业维护用品生产商，核心产品为同名多功能防锈润滑剂，同时布局清洁剂、除油剂、特殊润滑产品等品类，业务覆盖全球170余个国家和地区，服务零售、工业、汽车后市场等多个领域。
HTO vs WDFC — 直观对比
营收规模更大
HTO
是对方的1.3倍
$154.4M
营收增速更快
HTO
高出0.9%
0.6%
净利率更高
WDFC
高出3.2%
8.1%
两年增速更快
HTO
近两年复合增速
5.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $154.4M |
| 净利润 | $16.2M | $17.5M |
| 毛利率 | — | 56.2% |
| 营业利润率 | 16.6% | 15.1% |
| 净利率 | 8.1% | 11.3% |
| 营收同比 | 1.5% | 0.6% |
| 净利润同比 | -29.2% | -7.8% |
| 每股收益（稀释后） | $0.45 | $1.28 |
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HTOWDFC
| Q4 25 | $199.4M | $154.4M | ||
| Q3 25 | $243.5M | $163.5M | ||
| Q2 25 | $197.8M | $156.9M | ||
| Q1 25 | $164.9M | $146.1M | ||
| Q4 24 | $196.5M | $153.5M | ||
| Q3 24 | $216.7M | $156.0M | ||
| Q2 24 | $173.1M | $155.0M | ||
| Q1 24 | $150.0M | $139.1M |
净利润HTOWDFC
| Q4 25 | $16.2M | $17.5M | ||
| Q3 25 | $45.1M | $21.2M | ||
| Q2 25 | $24.7M | $21.0M | ||
| Q1 25 | $16.6M | $29.9M | ||
| Q4 24 | $22.9M | $18.9M | ||
| Q3 24 | $38.7M | $16.8M | ||
| Q2 24 | $20.7M | $19.8M | ||
| Q1 24 | $11.7M | $15.5M |
毛利率HTOWDFC
| Q4 25 | — | 56.2% | ||
| Q3 25 | — | 54.7% | ||
| Q2 25 | — | 56.2% | ||
| Q1 25 | — | 54.6% | ||
| Q4 24 | — | 54.8% | ||
| Q3 24 | — | 54.1% | ||
| Q2 24 | — | 53.1% | ||
| Q1 24 | — | 52.4% |
营业利润率HTOWDFC
| Q4 25 | 16.6% | 15.1% | ||
| Q3 25 | 26.5% | 17.1% | ||
| Q2 25 | 22.2% | 17.4% | ||
| Q1 25 | 21.8% | 15.9% | ||
| Q4 24 | 22.2% | 16.4% | ||
| Q3 24 | 26.9% | 15.4% | ||
| Q2 24 | 23.4% | 17.5% | ||
| Q1 24 | 18.6% | 15.1% |
净利率HTOWDFC
| Q4 25 | 8.1% | 11.3% | ||
| Q3 25 | 18.5% | 13.0% | ||
| Q2 25 | 12.5% | 13.4% | ||
| Q1 25 | 10.0% | 20.4% | ||
| Q4 24 | 11.7% | 12.3% | ||
| Q3 24 | 17.8% | 10.8% | ||
| Q2 24 | 12.0% | 12.8% | ||
| Q1 24 | 7.8% | 11.2% |
每股收益（稀释后）HTOWDFC
| Q4 25 | $0.45 | $1.28 | ||
| Q3 25 | $1.27 | $1.57 | ||
| Q2 25 | $0.71 | $1.54 | ||
| Q1 25 | $0.49 | $2.19 | ||
| Q4 24 | $0.70 | $1.39 | ||
| Q3 24 | $1.17 | $1.23 | ||
| Q2 24 | $0.64 | $1.46 | ||
| Q1 24 | $0.36 | $1.14 |
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 | $48.6M |
| 总债务越低越好 | $1.9B | $85.7M |
| 股东权益账面价值 | $1.5B | $264.1M |
| 总资产 | $5.1B | $459.7M |
| 负债/权益比越低杠杆越低 | 1.23× | 0.32× |
8季度趋势，按日历期对齐
现金及短期投资HTOWDFC
| Q4 25 | $20.7M | $48.6M | ||
| Q3 25 | $11.3M | $58.1M | ||
| Q2 25 | $19.8M | $51.7M | ||
| Q1 25 | $23.7M | $53.0M | ||
| Q4 24 | $11.1M | $54.9M | ||
| Q3 24 | $4.0M | $46.7M | ||
| Q2 24 | $22.8M | $45.3M | ||
| Q1 24 | $4.5M | $55.4M |
总债务HTOWDFC
| Q4 25 | $1.9B | $85.7M | ||
| Q3 25 | — | $86.2M | ||
| Q2 25 | — | $85.6M | ||
| Q1 25 | — | $84.4M | ||
| Q4 24 | $1.7B | $84.6M | ||
| Q3 24 | — | $86.0M | ||
| Q2 24 | — | $85.5M | ||
| Q1 24 | — | $85.9M |
股东权益HTOWDFC
| Q4 25 | $1.5B | $264.1M | ||
| Q3 25 | $1.5B | $268.2M | ||
| Q2 25 | $1.5B | $257.1M | ||
| Q1 25 | $1.4B | $242.1M | ||
| Q4 24 | $1.4B | $226.3M | ||
| Q3 24 | $1.3B | $230.5M | ||
| Q2 24 | $1.3B | $222.2M | ||
| Q1 24 | $1.2B | $216.3M |
总资产HTOWDFC
| Q4 25 | $5.1B | $459.7M | ||
| Q3 25 | $5.0B | $475.8M | ||
| Q2 25 | $4.8B | $456.0M | ||
| Q1 25 | $4.7B | $458.3M | ||
| Q4 24 | $4.7B | $447.3M | ||
| Q3 24 | $4.6B | $449.0M | ||
| Q2 24 | $4.4B | $443.6M | ||
| Q1 24 | $4.4B | $442.0M |
负债/权益比HTOWDFC
| Q4 25 | 1.23× | 0.32× | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | 1.26× | 0.37× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.38× | ||
| Q1 24 | — | 0.40× |
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 | $10.0M |
| 自由现金流经营现金流 - 资本支出 | — | $9.1M |
| 自由现金流率自由现金流/营收 | — | 5.9% |
| 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× | 0.57× |
| 过去12个月自由现金流最近4个季度 | — | $78.2M |
8季度趋势，按日历期对齐
经营现金流HTOWDFC
| Q4 25 | $63.5M | $10.0M | ||
| Q3 25 | $77.3M | $29.9M | ||
| Q2 25 | $60.8M | $35.1M | ||
| Q1 25 | $43.2M | $8.0M | ||
| Q4 24 | $41.5M | $14.9M | ||
| Q3 24 | $53.5M | $27.2M | ||
| Q2 24 | $49.3M | $19.9M | ||
| Q1 24 | $51.2M | $18.0M |
自由现金流HTOWDFC
| Q4 25 | — | $9.1M | ||
| Q3 25 | — | $28.6M | ||
| Q2 25 | — | $34.0M | ||
| Q1 25 | — | $6.6M | ||
| Q4 24 | — | $14.2M | ||
| Q3 24 | — | $26.4M | ||
| Q2 24 | — | $18.7M | ||
| Q1 24 | — | $16.7M |
自由现金流率HTOWDFC
| Q4 25 | — | 5.9% | ||
| Q3 25 | — | 17.5% | ||
| Q2 25 | — | 21.6% | ||
| Q1 25 | — | 4.5% | ||
| Q4 24 | — | 9.3% | ||
| Q3 24 | — | 16.9% | ||
| Q2 24 | — | 12.0% | ||
| Q1 24 | — | 12.0% |
资本支出强度HTOWDFC
| Q4 25 | — | 0.6% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 0.9% |
现金转化率HTOWDFC
| Q4 25 | 3.92× | 0.57× | ||
| Q3 25 | 1.71× | 1.41× | ||
| Q2 25 | 2.47× | 1.67× | ||
| Q1 25 | 2.61× | 0.27× | ||
| Q4 24 | 1.81× | 0.79× | ||
| Q3 24 | 1.39× | 1.62× | ||
| Q2 24 | 2.38× | 1.00× | ||
| Q1 24 | 4.38× | 1.16× |
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% |
WDFC
| Other | $82.6M | 53% |
| WD40Multi Use Product | $56.0M | 36% |
| WD40Specialist | $9.0M | 6% |
| Other Maintenance Products | $4.0M | 3% |
| Homecare And Cleaning Products | $2.7M | 2% |
