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贝壳控股（BEKE）与Compass, Inc.（COMP）财务数据对比。点击上方公司名可切换其他公司
贝壳控股的季度营收约是Compass, Inc.的1.9倍（$3.2B vs $1.7B）。贝壳控股净利率更高（3.2% vs -2.5%，领先5.7%）。过去两年Compass, Inc.的营收复合增速更高（27.0% vs 9.8%）
贝壳控股是中国领先的线上线下一体化居住服务平台，旗下运营贝壳找房等品牌，业务覆盖二手房交易经纪、新房代理销售、房屋租赁、家装改造及居住相关金融咨询服务，可满足消费者全周期居住需求。
Compass, Inc.是美国主营住宅房产经纪业务的企业，其平台旗下有约3.3万名经纪人，大多为独立合同工，运营Compass、21世纪不动产、科威国际不动产、苏富比国际地产、佳士得国际地产等多个知名房产经纪品牌。
BEKE vs COMP — 直观对比
营收规模更大
BEKE
是对方的1.9倍
$1.7B
净利率更高
BEKE
高出5.7%
-2.5%
两年增速更快
COMP
近两年复合增速
9.8%
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $1.7B |
| 净利润 | $104.9M | $-42.6M |
| 毛利率 | 21.4% | — |
| 营业利润率 | 2.6% | -2.5% |
| 净利率 | 3.2% | -2.5% |
| 营收同比 | — | 23.1% |
| 净利润同比 | — | -5.2% |
| 每股收益（稀释后） | — | $-0.07 |
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BEKECOMP
| Q4 25 | $3.2B | $1.7B | ||
| Q3 25 | $3.6B | $1.8B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | $3.2B | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $3.2B | $1.5B | ||
| Q2 24 | $3.2B | $1.7B | ||
| Q1 24 | $2.3B | $1.1B |
净利润BEKECOMP
| Q4 25 | $104.9M | $-42.6M | ||
| Q3 25 | $182.4M | $-4.6M | ||
| Q2 25 | — | $39.4M | ||
| Q1 25 | $117.9M | $-50.7M | ||
| Q4 24 | — | $-40.5M | ||
| Q3 24 | $166.5M | $-1.7M | ||
| Q2 24 | $261.5M | $20.7M | ||
| Q1 24 | $59.8M | $-132.9M |
毛利率BEKECOMP
| Q4 25 | 21.4% | — | ||
| Q3 25 | 21.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 20.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 22.7% | — | ||
| Q2 24 | 27.9% | — | ||
| Q1 24 | 25.2% | — |
营业利润率BEKECOMP
| Q4 25 | 2.6% | -2.5% | ||
| Q3 25 | 4.1% | -0.4% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | 2.5% | -4.0% | ||
| Q4 24 | — | -2.9% | ||
| Q3 24 | 3.2% | -0.2% | ||
| Q2 24 | 8.6% | 1.3% | ||
| Q1 24 | 0.1% | -12.5% |
净利率BEKECOMP
| Q4 25 | 3.2% | -2.5% | ||
| Q3 25 | 5.0% | -0.2% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | 3.7% | -3.7% | ||
| Q4 24 | — | -2.9% | ||
| Q3 24 | 5.2% | -0.1% | ||
| Q2 24 | 8.1% | 1.2% | ||
| Q1 24 | 2.6% | -12.6% |
每股收益（稀释后）BEKECOMP
| Q4 25 | — | $-0.07 | ||
| Q3 25 | — | $-0.01 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $-0.09 | ||
| Q4 24 | — | $-0.08 | ||
| Q3 24 | — | $0.00 | ||
| Q2 24 | — | $0.04 | ||
| Q1 24 | — | $-0.27 |
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 | $1.3B | $199.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $782.0M |
| 总资产 | $16.8B | $1.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资BEKECOMP
| Q4 25 | $1.3B | $199.0M | ||
| Q3 25 | $1.6B | $170.3M | ||
| Q2 25 | — | $177.3M | ||
| Q1 25 | $1.8B | $127.0M | ||
| Q4 24 | — | $223.8M | ||
| Q3 24 | $1.4B | $211.2M | ||
| Q2 24 | $1.3B | $185.8M | ||
| Q1 24 | $2.5B | $165.9M |
股东权益BEKECOMP
| Q4 25 | — | $782.0M | ||
| Q3 25 | $9.6B | $773.3M | ||
| Q2 25 | — | $719.9M | ||
| Q1 25 | $9.5B | $635.0M | ||
| Q4 24 | — | $409.4M | ||
| Q3 24 | $10.1B | $428.0M | ||
| Q2 24 | $9.7B | $398.4M | ||
| Q1 24 | $9.6B | $330.3M |
总资产BEKECOMP
| Q4 25 | $16.8B | $1.5B | ||
| Q3 25 | $17.3B | $1.6B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | $18.0B | $1.5B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $17.5B | $1.2B | ||
| Q2 24 | $16.9B | $1.2B | ||
| Q1 24 | $16.5B | $1.1B |
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 | — | $45.3M |
| 自由现金流经营现金流 - 资本支出 | — | $42.2M |
| 自由现金流率自由现金流/营收 | — | 2.5% |
| 资本支出强度资本支出/营收 | — | 0.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $203.3M |
8季度趋势，按日历期对齐
经营现金流BEKECOMP
| Q4 25 | — | $45.3M | ||
| Q3 25 | — | $75.5M | ||
| Q2 25 | — | $72.8M | ||
| Q1 25 | $-546.4M | $23.1M | ||
| Q4 24 | — | $30.5M | ||
| Q3 24 | $64.0M | $37.4M | ||
| Q2 24 | — | $45.0M | ||
| Q1 24 | — | $8.6M |
自由现金流BEKECOMP
| Q4 25 | — | $42.2M | ||
| Q3 25 | — | $73.6M | ||
| Q2 25 | — | $68.0M | ||
| Q1 25 | — | $19.5M | ||
| Q4 24 | — | $26.7M | ||
| Q3 24 | — | $32.8M | ||
| Q2 24 | — | $40.4M | ||
| Q1 24 | — | $5.9M |
自由现金流率BEKECOMP
| Q4 25 | — | 2.5% | ||
| Q3 25 | — | 4.0% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 2.4% | ||
| Q1 24 | — | 0.6% |
资本支出强度BEKECOMP
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.3% |
现金转化率BEKECOMP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.85× | ||
| Q1 25 | -4.64× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.38× | — | ||
| Q2 24 | — | 2.17× | ||
| Q1 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
BEKE
| New home transaction services | $932.6M | 29% |
| Existing home transaction services | $841.5M | 26% |
| Home rental services | $804.4M | 25% |
| Home renovation and furnishing | $604.0M | 19% |
| Emerging and other services | $55.6M | 2% |
COMP
暂无分部数据
