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贝壳控股（BEKE）与Douglas Elliman Inc.（DOUG）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Douglas Elliman Inc.的13.2倍（$3.2B vs $245.4M）。Douglas Elliman Inc.净利率更高（27.9% vs 3.2%，领先24.7%）。过去两年Douglas Elliman Inc.的营收复合增速更高（10.7% 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。
Douglas Elliman Inc.是美国领先的住宅房地产经纪企业，提供高端房产买卖、租赁、物业管理及相关咨询服务，核心业务覆盖纽约、加州、佛罗里达、得克萨斯等都会区，主要服务高净值客户群体。
BEKE vs DOUG — 直观对比
营收规模更大
BEKE
是对方的13.2倍
$245.4M
净利率更高
DOUG
高出24.7%
3.2%
两年增速更快
DOUG
近两年复合增速
9.8%
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $245.4M |
| 净利润 | $104.9M | $68.6M |
| 毛利率 | 21.4% | — |
| 营业利润率 | 2.6% | 27.3% |
| 净利率 | 3.2% | 27.9% |
| 营收同比 | — | 0.9% |
| 净利润同比 | — | 1243.4% |
| 每股收益（稀释后） | — | $0.80 |
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BEKEDOUG
| Q4 25 | $3.2B | $245.4M | ||
| Q3 25 | $3.6B | $262.8M | ||
| Q2 25 | — | $271.4M | ||
| Q1 25 | $3.2B | $253.4M | ||
| Q4 24 | — | $243.3M | ||
| Q3 24 | $3.2B | $266.3M | ||
| Q2 24 | $3.2B | $285.8M | ||
| Q1 24 | $2.3B | $200.2M |
净利润BEKEDOUG
| Q4 25 | $104.9M | $68.6M | ||
| Q3 25 | $182.4M | $-24.7M | ||
| Q2 25 | — | $-22.7M | ||
| Q1 25 | $117.9M | $-6.0M | ||
| Q4 24 | — | $-6.0M | ||
| Q3 24 | $166.5M | $-27.2M | ||
| Q2 24 | $261.5M | $-1.7M | ||
| Q1 24 | $59.8M | $-41.5M |
毛利率BEKEDOUG
| 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BEKEDOUG
| Q4 25 | 2.6% | 27.3% | ||
| Q3 25 | 4.1% | -4.1% | ||
| Q2 25 | — | -2.0% | ||
| Q1 25 | 2.5% | -2.1% | ||
| Q4 24 | — | -6.7% | ||
| Q3 24 | 3.2% | -2.8% | ||
| Q2 24 | 8.6% | -1.3% | ||
| Q1 24 | 0.1% | -20.7% |
净利率BEKEDOUG
| Q4 25 | 3.2% | 27.9% | ||
| Q3 25 | 5.0% | -9.4% | ||
| Q2 25 | — | -8.4% | ||
| Q1 25 | 3.7% | -2.4% | ||
| Q4 24 | — | -2.5% | ||
| Q3 24 | 5.2% | -10.2% | ||
| Q2 24 | 8.1% | -0.6% | ||
| Q1 24 | 2.6% | -20.7% |
每股收益（稀释后）BEKEDOUG
| Q4 25 | — | $0.80 | ||
| Q3 25 | — | $-0.29 | ||
| Q2 25 | — | $-0.27 | ||
| Q1 25 | — | $-0.07 | ||
| Q4 24 | — | $-0.06 | ||
| Q3 24 | — | $-0.33 | ||
| Q2 24 | — | $-0.02 | ||
| Q1 24 | — | $-0.50 |
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 | $115.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $183.9M |
| 总资产 | $16.8B | $444.4M |
| 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BEKEDOUG
| Q4 25 | $1.3B | $115.5M | ||
| Q3 25 | $1.6B | $143.0M | ||
| Q2 25 | — | $136.3M | ||
| Q1 25 | $1.8B | $136.8M | ||
| Q4 24 | — | $145.5M | ||
| Q3 24 | $1.4B | $151.4M | ||
| Q2 24 | $1.3B | $92.9M | ||
| Q1 24 | $2.5B | $91.5M |
股东权益BEKEDOUG
| Q4 25 | — | $183.9M | ||
| Q3 25 | $9.6B | $115.1M | ||
| Q2 25 | — | $137.6M | ||
| Q1 25 | $9.5B | $158.2M | ||
| Q4 24 | — | $162.2M | ||
| Q3 24 | $10.1B | $173.6M | ||
| Q2 24 | $9.7B | $196.9M | ||
| Q1 24 | $9.6B | $195.1M |
总资产BEKEDOUG
| Q4 25 | $16.8B | $444.4M | ||
| Q3 25 | $17.3B | $480.6M | ||
| Q2 25 | — | $489.0M | ||
| Q1 25 | $18.0B | $493.9M | ||
| Q4 24 | — | $493.9M | ||
| Q3 24 | $17.5B | $502.7M | ||
| Q2 24 | $16.9B | $463.9M | ||
| Q1 24 | $16.5B | $461.1M |
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 | — | $-14.4M |
| 自由现金流经营现金流 - 资本支出 | — | $-14.7M |
| 自由现金流率自由现金流/营收 | — | -6.0% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | — | -0.21× |
| 过去12个月自由现金流最近4个季度 | — | $-17.2M |
8季度趋势，按日历期对齐
经营现金流BEKEDOUG
| Q4 25 | — | $-14.4M | ||
| Q3 25 | — | $5.5M | ||
| Q2 25 | — | $642.0K | ||
| Q1 25 | $-546.4M | $-5.6M | ||
| Q4 24 | — | $-9.0M | ||
| Q3 24 | $64.0M | $9.0M | ||
| Q2 24 | — | $1.3M | ||
| Q1 24 | — | $-27.3M |
自由现金流BEKEDOUG
| Q4 25 | — | $-14.7M | ||
| Q3 25 | — | $4.7M | ||
| Q2 25 | — | $-575.0K | ||
| Q1 25 | — | $-6.7M | ||
| Q4 24 | — | $-10.2M | ||
| Q3 24 | — | $7.7M | ||
| Q2 24 | — | $432.0K | ||
| Q1 24 | — | $-29.4M |
自由现金流率BEKEDOUG
| Q4 25 | — | -6.0% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | -0.2% | ||
| Q1 25 | — | -2.6% | ||
| Q4 24 | — | -4.2% | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | -14.7% |
资本支出强度BEKEDOUG
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 1.0% |
现金转化率BEKEDOUG
| Q4 25 | — | -0.21× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -4.64× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.38× | — | ||
| Q2 24 | — | — | ||
| 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% |
DOUG
| Commissions And Other Brokerage Income | $240.3M | 98% |
| Property Management Income | $2.8M | 1% |
| Property Management | $2.2M | 1% |
