该报告暂无中文版，以下为英文版分析。
按公开的固定规则计算，不是模型的主观判断——但其中一项输入（高等级风险的条数）取自下方的 AI 分析。
非投资建议，也不是目标价——评的是本季基本面，不是股价。 完整方法论 →
AI核心结论
AOS delivered steady FY2025 growth with revenue up 0.3% to $3.83B, net income rising 2.4% to $546.2M, and EPS climbing 6.0% to $3.87, supported by margin expansion and strong operating cash flow of $616.8M.
营收
38.3亿美元
同比 +0.32%
每股收益（稀释）
3.85美元
同比 +6.06%
毛利率
38.8%
同比 +0.7 个百分点
营业利润
7.29亿美元
同比 +2.95%
SEC XBRL 原值
Smith A O (AOS) FY2025 营收 38.3亿美元，同比增长 0.3%。 营业利润率 19.0%，较去年同期的 18.5% 扩大 0.5 个百分点。 经营活动现金流 6.17亿美元，同比增长 6.0%。
近 4 个季度：3 次超预期
| 季度 | 实际 EPS（美元） | 市场预期（美元） | 结果 |
|---|---|---|---|
| 2026年6月 | 1.03 | 0.93 | 超预期 +10.4% |
| 2026年3月 | 0.85 | 0.95 | 不及预期 -10.7% |
| 2025年12月本次财报 | 0.90 | 0.85 | 超预期 +5.8% |
| 2025年9月 | 0.94 | 0.92 | 超预期 +2.6% |
2025年12月 实际 EPS 0.90美元，分析师一致预期 0.85美元，超预期 +5.8%。
由 AI 基于本次 SEC 报告整理
Total revenue increased 0.3% year-over-year to $3.83B in FY2025 from $3.82B in FY2024, indicating a stable demand environment despite macroeconomic headwinds. The modest top-line growth reflects resilience in core product categories.
来源: 10-K Income Statement
Gross margin improved to 38.8% from 38.1% as cost of revenue declined 0.8% to $2.34B, outpacing the modest revenue growth. Operating margin also expanded to 19.0% from 18.5%, reflecting disciplined cost management.
来源: 10-K Income Statement
Basic EPS grew 6.0% to $3.87 and diluted EPS grew 6.1% to $3.85, significantly outpacing net income growth of 2.4%, as the company repurchased $400.8M in shares during FY2025, up 31.1% from $305.8M in the prior year.
来源: 10-K Income Statement & Cash Flow Statement
Operating cash flow rose 6.0% to $616.8M, providing ample coverage for the $400.8M share buyback program and dividends. Financing cash outflows increased to $633.1M, reflecting the accelerated return of capital to shareholders.
来源: 10-K Cash Flow Statement
Long-term debt declined 19.8% to $155.0M from $193.2M, and total liabilities fell 5.3% to $1.28B, strengthening the balance sheet. The debt-to-equity ratio stands at a manageable 0.69x, indicating conservative leverage.
来源: 10-K Balance Sheet
由 AI 基于本次 SEC 报告整理 · 高 0 中 4 低 1
Cash and equivalents fell 27.2% to $174.5M in FY2025, driven by $400.8M in share buybacks — a 31.1% increase year-over-year. If operating conditions deteriorate, the reduced cash buffer could limit financial flexibility for acquisitions or unexpected capital needs.
来源: 10-K Balance Sheet & Cash Flow Statement
SG&A expenses rose 2.7% to $759.4M, growing faster than revenue (0.3%), which could compress operating margins if revenue growth does not accelerate. Sustained SG&A inflation without corresponding revenue growth poses a risk to the company's profitability trajectory.
来源: 10-K Income Statement
R&D expenses fell 6.6% to $95.0M in FY2025, potentially signaling reduced investment in product innovation. For a company in a competitive market, sustained cuts to R&D could erode the product pipeline and long-term competitive positioning.
来源: 10-K Income Statement
Total assets declined 3.0% to $3.14B, and current assets fell 7.3% to $1.29B, while investing cash outflows dropped sharply to -$53.0M from -$267.1M. The significant reduction in capital investment may limit future capacity expansion or growth initiatives.
来源: 10-K Balance Sheet & Cash Flow Statement
With $400.8M directed toward share repurchases versus only $53.0M in net investing activities, the company is prioritizing near-term shareholder returns over long-term asset growth. This allocation strategy may limit the company's ability to pursue organic or inorganic growth opportunities.
来源: 10-K Cash Flow Statement
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
营收 亿美元 | 38.30 亿美元 | 38.18 亿美元 | +0.32% |
营业成本 亿美元 | 23.43 亿美元 | 23.62 亿美元 | -0.81% |
毛利润 亿美元 | 14.87 亿美元 | 14.56 亿美元 | +2.15% |
营业利润 亿美元 | 7.29 亿美元 | 7.08 亿美元 | +2.95% |
净利润 亿美元 | 5.46 亿美元 | 5.34 亿美元 | +2.36% |
每股收益（基本） 美元 | 3.87 美元 | 3.65 美元 | +6.03% |
每股收益（稀释） 美元 | 3.85 美元 | 3.63 美元 | +6.06% |
研发费用 亿美元 | 0.95 亿美元 | 1.02 亿美元 | -6.59% |
销售及管理费用 亿美元 | 7.59 亿美元 | 7.39 亿美元 | +2.72% |
答案基于本次 SEC 报告与本页数据