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American Homes 4 Rent（AMH）与APPFOLIO INC（APPF）财务数据对比。点击上方公司名可切换其他公司
American Homes 4 Rent的季度营收约是APPFOLIO INC的1.7倍（$455.0M vs $262.2M），American Homes 4 Rent净利率更高（31.7% vs 16.2%，领先15.5%），APPFOLIO INC同比增速更快（20.4% vs 4.2%），过去两年APPFOLIO INC的营收复合增速更高（15.3% vs 3.6%）
AMH（American Homes 4 Rent）是总部位于美国内华达州拉斯维加斯的住宅房地产投资信托基金，主打单户住宅租赁业务。截至2019年12月31日，公司在全美22个州共持有52552套住宅，资产主要集中在亚特兰大、达拉斯-沃斯堡及北卡罗来纳州夏洛特地区。
AppFolio Inc.是一家2006年成立的美国企业，专注服务房地产行业，为客户提供软件即服务（SaaS）类应用产品及相关配套服务，助力房地产相关经营主体优化管理流程、提升运营效率。
AMH vs APPF — 直观对比
营收规模更大
AMH
是对方的1.7倍
$262.2M
营收增速更快
APPF
高出16.2%
4.2%
净利率更高
AMH
高出15.5%
16.2%
两年增速更快
APPF
近两年复合增速
3.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $455.0M | $262.2M |
| 净利润 | $144.3M | $42.4M |
| 毛利率 | — | — |
| 营业利润率 | — | 19.4% |
| 净利率 | 31.7% | 16.2% |
| 营收同比 | 4.2% | 20.4% |
| 净利润同比 | 0.3% | 35.2% |
| 每股收益（稀释后） | $0.33 | $1.18 |
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AMHAPPF
| Q1 26 | — | $262.2M | ||
| Q4 25 | $455.0M | $248.2M | ||
| Q3 25 | $478.5M | $249.4M | ||
| Q2 25 | $457.5M | $235.6M | ||
| Q1 25 | $459.3M | $217.7M | ||
| Q4 24 | $436.6M | $203.7M | ||
| Q3 24 | $445.1M | $205.7M | ||
| Q2 24 | $423.5M | $197.4M |
净利润AMHAPPF
| Q1 26 | — | $42.4M | ||
| Q4 25 | $144.3M | $39.9M | ||
| Q3 25 | $116.8M | $33.6M | ||
| Q2 25 | $123.6M | $36.0M | ||
| Q1 25 | $128.7M | $31.4M | ||
| Q4 24 | $143.9M | $102.7M | ||
| Q3 24 | $87.6M | $33.0M | ||
| Q2 24 | $108.5M | $29.7M |
营业利润率AMHAPPF
| Q1 26 | — | 19.4% | ||
| Q4 25 | — | 17.6% | ||
| Q3 25 | — | 14.1% | ||
| Q2 25 | — | 17.2% | ||
| Q1 25 | — | 15.5% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | — | 20.7% | ||
| Q2 24 | — | 18.3% |
净利率AMHAPPF
| Q1 26 | — | 16.2% | ||
| Q4 25 | 31.7% | 16.1% | ||
| Q3 25 | 24.4% | 13.5% | ||
| Q2 25 | 27.0% | 15.3% | ||
| Q1 25 | 28.0% | 14.4% | ||
| Q4 24 | 33.0% | 50.4% | ||
| Q3 24 | 19.7% | 16.0% | ||
| Q2 24 | 25.6% | 15.0% |
每股收益（稀释后）AMHAPPF
| Q1 26 | — | $1.18 | ||
| Q4 25 | $0.33 | $1.10 | ||
| Q3 25 | $0.27 | $0.93 | ||
| Q2 25 | $0.28 | $0.99 | ||
| Q1 25 | $0.30 | $0.86 | ||
| Q4 24 | $0.33 | $2.79 | ||
| Q3 24 | $0.20 | $0.90 | ||
| Q2 24 | $0.25 | $0.81 |
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 | $108.5M | $147.4M |
| 总债务越低越好 | $5.1B | — |
| 股东权益账面价值 | $7.0B | $470.2M |
| 总资产 | $13.2B | $580.6M |
| 负债/权益比越低杠杆越低 | 0.72× | — |
8季度趋势，按日历期对齐
现金及短期投资AMHAPPF
| Q1 26 | — | $147.4M | ||
| Q4 25 | $108.5M | $107.0M | ||
| Q3 25 | $45.6M | $76.1M | ||
| Q2 25 | $323.3M | $73.5M | ||
| Q1 25 | $69.7M | $56.9M | ||
| Q4 24 | $199.4M | $42.5M | ||
| Q3 24 | $162.5M | $62.4M | ||
| Q2 24 | $718.4M | $59.6M |
总债务AMHAPPF
| Q1 26 | — | — | ||
| Q4 25 | $5.1B | — | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $4.9B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $5.0B | — |
股东权益AMHAPPF
| Q1 26 | — | $470.2M | ||
| Q4 25 | $7.0B | $542.6M | ||
| Q3 25 | $7.2B | $498.9M | ||
| Q2 25 | $7.2B | $455.6M | ||
| Q1 25 | $7.2B | $462.1M | ||
| Q4 24 | $7.2B | $519.3M | ||
| Q3 24 | $7.0B | $412.8M | ||
| Q2 24 | $7.0B | $371.4M |
总资产AMHAPPF
| Q1 26 | — | $580.6M | ||
| Q4 25 | $13.2B | $689.0M | ||
| Q3 25 | $13.3B | $640.5M | ||
| Q2 25 | $13.6B | $567.4M | ||
| Q1 25 | $13.3B | $564.7M | ||
| Q4 24 | $13.4B | $626.7M | ||
| Q3 24 | $12.8B | $523.3M | ||
| Q2 24 | $13.3B | $479.3M |
负债/权益比AMHAPPF
| Q1 26 | — | — | ||
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.68× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.71× | — |
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 | $864.3M | $34.3M |
| 自由现金流经营现金流 - 资本支出 | $823.7M | — |
| 自由现金流率自由现金流/营收 | 181.0% | — |
| 资本支出强度资本支出/营收 | 8.9% | — |
| 现金转化率经营现金流/净利润 | 5.99× | 0.81× |
| 过去12个月自由现金流最近4个季度 | $1.5B | — |
8季度趋势，按日历期对齐
经营现金流AMHAPPF
| Q1 26 | — | $34.3M | ||
| Q4 25 | $864.3M | $65.0M | ||
| Q3 25 | $223.3M | $86.0M | ||
| Q2 25 | $271.9M | $52.6M | ||
| Q1 25 | $223.4M | $38.5M | ||
| Q4 24 | $811.5M | $36.6M | ||
| Q3 24 | $233.6M | $57.8M | ||
| Q2 24 | $274.0M | $50.9M |
自由现金流AMHAPPF
| Q1 26 | — | — | ||
| Q4 25 | $823.7M | $63.7M | ||
| Q3 25 | $214.5M | $84.7M | ||
| Q2 25 | $257.7M | $52.4M | ||
| Q1 25 | $215.9M | $38.2M | ||
| Q4 24 | $777.5M | $36.4M | ||
| Q3 24 | $225.3M | $57.4M | ||
| Q2 24 | $263.3M | $50.8M |
自由现金流率AMHAPPF
| Q1 26 | — | — | ||
| Q4 25 | 181.0% | 25.7% | ||
| Q3 25 | 44.8% | 34.0% | ||
| Q2 25 | 56.3% | 22.2% | ||
| Q1 25 | 47.0% | 17.6% | ||
| Q4 24 | 178.1% | 17.9% | ||
| Q3 24 | 50.6% | 27.9% | ||
| Q2 24 | 62.2% | 25.8% |
资本支出强度AMHAPPF
| Q1 26 | — | — | ||
| Q4 25 | 8.9% | 0.5% | ||
| Q3 25 | 1.8% | 0.5% | ||
| Q2 25 | 3.1% | 0.1% | ||
| Q1 25 | 1.6% | 0.1% | ||
| Q4 24 | 7.8% | 0.1% | ||
| Q3 24 | 1.9% | 0.2% | ||
| Q2 24 | 2.5% | 0.0% |
现金转化率AMHAPPF
| Q1 26 | — | 0.81× | ||
| Q4 25 | 5.99× | 1.63× | ||
| Q3 25 | 1.91× | 2.56× | ||
| Q2 25 | 2.20× | 1.46× | ||
| Q1 25 | 1.74× | 1.23× | ||
| Q4 24 | 5.64× | 0.36× | ||
| Q3 24 | 2.67× | 1.75× | ||
| Q2 24 | 2.52× | 1.71× |
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
AMH
暂无分部数据
APPF
| Value Added Services | $201.4M | 77% |
| Subscription Services | $58.2M | 22% |
