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贝壳控股（BEKE）与固铂轮胎（GT）财务数据对比。点击上方公司名可切换其他公司
固铂轮胎的季度营收约是贝壳控股的1.5倍（$4.9B vs $3.2B），贝壳控股净利率更高（3.2% vs 2.1%，领先1.1%），过去两年贝壳控股的营收复合增速更高（9.8% vs 4.1%）
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。
固铂轮胎橡胶公司是美国知名轮胎企业，专注于乘用车、卡车替换轮胎的设计、生产、营销与销售，旗下子公司还覆盖中型卡车、摩托车及赛车轮胎业务。公司总部位于俄亥俄州芬德利，在全球拥有60处制造、销售、配送、技术及研发设计基地，旗下还拥有英国雅芳轮胎品牌，生产摩托车等品类的轮胎产品。
BEKE vs GT — 直观对比
营收规模更大
GT
是对方的1.5倍
$3.2B
净利率更高
BEKE
高出1.1%
2.1%
两年增速更快
BEKE
近两年复合增速
4.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $4.9B |
| 净利润 | $104.9M | $105.0M |
| 毛利率 | 21.4% | 20.9% |
| 营业利润率 | 2.6% | 3.3% |
| 净利率 | 3.2% | 2.1% |
| 营收同比 | — | -0.6% |
| 净利润同比 | — | 43.8% |
| 每股收益（稀释后） | — | $0.36 |
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BEKEGT
| Q4 25 | $3.2B | $4.9B | ||
| Q3 25 | $3.6B | $4.6B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | $3.2B | $4.3B | ||
| Q4 24 | — | $4.9B | ||
| Q3 24 | $3.2B | $4.8B | ||
| Q2 24 | $3.2B | $4.6B | ||
| Q1 24 | $2.3B | $4.5B |
净利润BEKEGT
| Q4 25 | $104.9M | $105.0M | ||
| Q3 25 | $182.4M | $-2.2B | ||
| Q2 25 | — | $254.0M | ||
| Q1 25 | $117.9M | $115.0M | ||
| Q4 24 | — | $73.0M | ||
| Q3 24 | $166.5M | $-37.0M | ||
| Q2 24 | $261.5M | $79.0M | ||
| Q1 24 | $59.8M | $-69.0M |
毛利率BEKEGT
| Q4 25 | 21.4% | 20.9% | ||
| Q3 25 | 21.9% | 18.2% | ||
| Q2 25 | — | 17.0% | ||
| Q1 25 | 20.7% | 17.4% | ||
| Q4 24 | — | 19.9% | ||
| Q3 24 | 22.7% | 19.5% | ||
| Q2 24 | 27.9% | 20.6% | ||
| Q1 24 | 25.2% | 18.0% |
营业利润率BEKEGT
| Q4 25 | 2.6% | 3.3% | ||
| Q3 25 | 4.1% | -15.8% | ||
| Q2 25 | — | 6.8% | ||
| Q1 25 | 2.5% | 3.1% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | 3.2% | -0.6% | ||
| Q2 24 | 8.6% | 2.9% | ||
| Q1 24 | 0.1% | -1.1% |
净利率BEKEGT
| Q4 25 | 3.2% | 2.1% | ||
| Q3 25 | 5.0% | -47.3% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | 3.7% | 2.7% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | 5.2% | -0.8% | ||
| Q2 24 | 8.1% | 1.7% | ||
| Q1 24 | 2.6% | -1.5% |
每股收益（稀释后）BEKEGT
| Q4 25 | — | $0.36 | ||
| Q3 25 | — | $-7.62 | ||
| Q2 25 | — | $0.87 | ||
| Q1 25 | — | $0.40 | ||
| Q4 24 | — | $0.25 | ||
| Q3 24 | — | $-0.13 | ||
| Q2 24 | — | $0.28 | ||
| Q1 24 | — | $-0.24 |
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 | $801.0M |
| 总债务越低越好 | — | $5.3B |
| 股东权益账面价值 | — | $3.2B |
| 总资产 | $16.8B | $18.2B |
| 负债/权益比越低杠杆越低 | — | 1.65× |
8季度趋势，按日历期对齐
现金及短期投资BEKEGT
| Q4 25 | $1.3B | $801.0M | ||
| Q3 25 | $1.6B | $810.0M | ||
| Q2 25 | — | $785.0M | ||
| Q1 25 | $1.8B | $902.0M | ||
| Q4 24 | — | $810.0M | ||
| Q3 24 | $1.4B | $905.0M | ||
| Q2 24 | $1.3B | $789.0M | ||
| Q1 24 | $2.5B | $893.0M |
总债务BEKEGT
| Q4 25 | — | $5.3B | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $6.6B | ||
| Q1 25 | — | $7.3B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $7.5B |
股东权益BEKEGT
| Q4 25 | — | $3.2B | ||
| Q3 25 | $9.6B | $3.0B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | $9.5B | $4.9B | ||
| Q4 24 | — | $4.7B | ||
| Q3 24 | $10.1B | $4.7B | ||
| Q2 24 | $9.7B | $4.7B | ||
| Q1 24 | $9.6B | $4.6B |
总资产BEKEGT
| Q4 25 | $16.8B | $18.2B | ||
| Q3 25 | $17.3B | $20.2B | ||
| Q2 25 | — | $22.3B | ||
| Q1 25 | $18.0B | $21.7B | ||
| Q4 24 | — | $20.9B | ||
| Q3 24 | $17.5B | $22.5B | ||
| Q2 24 | $16.9B | $22.0B | ||
| Q1 24 | $16.5B | $22.0B |
负债/权益比BEKEGT
| Q4 25 | — | 1.65× | ||
| Q3 25 | — | 2.42× | ||
| Q2 25 | — | 1.28× | ||
| Q1 25 | — | 1.48× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 1.45× | ||
| Q1 24 | — | 1.61× |
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 | — | $1.5B |
| 自由现金流经营现金流 - 资本支出 | — | $1.3B |
| 自由现金流率自由现金流/营收 | — | 27.2% |
| 资本支出强度资本支出/营收 | — | 3.6% |
| 现金转化率经营现金流/净利润 | — | 14.40× |
| 过去12个月自由现金流最近4个季度 | — | $-30.0M |
8季度趋势，按日历期对齐
经营现金流BEKEGT
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $-180.0M | ||
| Q1 25 | $-546.4M | $-538.0M | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $64.0M | $-73.0M | ||
| Q2 24 | — | $-67.0M | ||
| Q1 24 | — | $-451.0M |
自由现金流BEKEGT
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $-181.0M | ||
| Q2 25 | — | $-387.0M | ||
| Q1 25 | — | $-797.0M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $-351.0M | ||
| Q2 24 | — | $-383.0M | ||
| Q1 24 | — | $-769.0M |
自由现金流率BEKEGT
| Q4 25 | — | 27.2% | ||
| Q3 25 | — | -3.9% | ||
| Q2 25 | — | -8.7% | ||
| Q1 25 | — | -18.7% | ||
| Q4 24 | — | 20.5% | ||
| Q3 24 | — | -7.3% | ||
| Q2 24 | — | -8.4% | ||
| Q1 24 | — | -16.9% |
资本支出强度BEKEGT
| Q4 25 | — | 3.6% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 5.8% | ||
| Q2 24 | — | 6.9% | ||
| Q1 24 | — | 7.0% |
现金转化率BEKEGT
| Q4 25 | — | 14.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.71× | ||
| Q1 25 | -4.64× | -4.68× | ||
| Q4 24 | — | 17.66× | ||
| Q3 24 | 0.38× | — | ||
| Q2 24 | — | -0.85× | ||
| 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% |
GT
| Tire Unit Sales | $2.4B | 50% |
| Other | $2.3B | 46% |
| Other Tireand Related Sales | $192.0M | 4% |
