A.O. Smith 经营着稳定的锅炉和热水器业务，市盈率16倍、股息稳定，但其6%的总股东回报并不亮眼，只是成熟公司的标准水平；在住房市场疲软的背景下，该股一直非常昂贵，可能还会更便宜，而且更便宜的替代选择即将出现。
《S&P 500 Bottom Fishing! 20 Stocks One Interesting Buy - PENTAIR (PNR)》
Value Investing with Sven Carlin, Ph.D.发布 2026-10-21 · 1 段内容
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A.O. Smith 这家公司也曾经历过繁荣期，现在则略有回落。锅炉和热水器业务运行稳定。市盈率为16。分红稳定。一切看起来都不错。虽然住房市场的情况看起来很差，但通过回购和派息带来的股东总回报为6%。
不算差，但也不算出色。对于这类成熟公司来说，这是如今的标准定价水平。不过，6-7%并不是一个亮眼的百分比。它最近一直很贵，可能会变得更便宜。我们还有一家更便宜的公司要讲。
A.O. Smith's company also experienced prosperity. It has now dropped slightly. Boilers and water heaters, stable operation. Price-to-earnings ratio 16. Dividend payouts are stable.
Everything looks good. Although the housing situation looks bad, the total return to shareholders, from buybacks and distributions, is 6%. Not bad, but not great either. It's standard pricing for established companies of this type these days.
However, 6-7% is not an impressive percentage. It has been very expensive recently. It might become cheaper. We have a cheaper one coming.