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贝壳控股（BEKE）与J.B. Hunt（JBHT）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J.B. Hunt的1.0倍（$3.2B vs $3.1B），J.B. Hunt净利率更高（5.8% vs 3.2%，领先2.6%），过去两年贝壳控股的营收复合增速更高（9.8% vs 2.6%）
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。
J.B.亨特运输服务公司是总部位于美国阿肯色州洛厄尔的运输物流企业，1961年8月10日由约翰尼·布莱恩·亨特与乔内尔·亨特在阿肯色州创立。截至1983年，公司已成为美国第80大卡车运输企业，营收达6.2347亿美元，当时运营550台牵引车、1049辆挂车，拥有约1050名员工。
BEKE vs JBHT — 直观对比
营收规模更大
BEKE
是对方的1.0倍
$3.1B
净利率更高
JBHT
高出2.6%
3.2%
两年增速更快
BEKE
近两年复合增速
2.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $3.1B |
| 净利润 | $104.9M | $181.1M |
| 毛利率 | 21.4% | — |
| 营业利润率 | 2.6% | 8.0% |
| 净利率 | 3.2% | 5.8% |
| 营收同比 | — | -1.6% |
| 净利润同比 | — | 16.5% |
| 每股收益（稀释后） | — | $1.88 |
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BEKEJBHT
| Q4 25 | $3.2B | $3.1B | ||
| Q3 25 | $3.6B | $3.1B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | $3.2B | $2.9B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | $3.2B | $3.1B | ||
| Q2 24 | $3.2B | $2.9B | ||
| Q1 24 | $2.3B | $2.9B |
净利润BEKEJBHT
| Q4 25 | $104.9M | $181.1M | ||
| Q3 25 | $182.4M | $170.8M | ||
| Q2 25 | — | $128.6M | ||
| Q1 25 | $117.9M | $117.7M | ||
| Q4 24 | — | $155.5M | ||
| Q3 24 | $166.5M | $152.1M | ||
| Q2 24 | $261.5M | $135.9M | ||
| Q1 24 | $59.8M | $127.5M |
毛利率BEKEJBHT
| 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BEKEJBHT
| Q4 25 | 2.6% | 8.0% | ||
| Q3 25 | 4.1% | 7.9% | ||
| Q2 25 | — | 6.7% | ||
| Q1 25 | 2.5% | 6.1% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | 3.2% | 7.3% | ||
| Q2 24 | 8.6% | 7.0% | ||
| Q1 24 | 0.1% | 6.6% |
净利率BEKEJBHT
| Q4 25 | 3.2% | 5.8% | ||
| Q3 25 | 5.0% | 5.6% | ||
| Q2 25 | — | 4.4% | ||
| Q1 25 | 3.7% | 4.0% | ||
| Q4 24 | — | 4.9% | ||
| Q3 24 | 5.2% | 5.0% | ||
| Q2 24 | 8.1% | 4.6% | ||
| Q1 24 | 2.6% | 4.3% |
每股收益（稀释后）BEKEJBHT
| Q4 25 | — | $1.88 | ||
| Q3 25 | — | $1.76 | ||
| Q2 25 | — | $1.31 | ||
| Q1 25 | — | $1.17 | ||
| Q4 24 | — | $1.53 | ||
| Q3 24 | — | $1.49 | ||
| Q2 24 | — | $1.32 | ||
| Q1 24 | — | $1.22 |
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 | $17.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $3.6B |
| 总资产 | $16.8B | $7.9B |
| 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BEKEJBHT
| Q4 25 | $1.3B | $17.3M | ||
| Q3 25 | $1.6B | $52.3M | ||
| Q2 25 | — | $50.9M | ||
| Q1 25 | $1.8B | $43.4M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | $1.4B | $120.0M | ||
| Q2 24 | $1.3B | $53.5M | ||
| Q1 24 | $2.5B | $64.2M |
总债务BEKEJBHT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $977.7M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.4B |
股东权益BEKEJBHT
| Q4 25 | — | $3.6B | ||
| Q3 25 | $9.6B | $3.6B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | $9.5B | $3.9B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | $10.1B | $4.0B | ||
| Q2 24 | $9.7B | $4.1B | ||
| Q1 24 | $9.6B | $4.2B |
总资产BEKEJBHT
| Q4 25 | $16.8B | $7.9B | ||
| Q3 25 | $17.3B | $8.1B | ||
| Q2 25 | — | $8.2B | ||
| Q1 25 | $18.0B | $8.3B | ||
| Q4 24 | — | $8.3B | ||
| Q3 24 | $17.5B | $8.3B | ||
| Q2 24 | $16.9B | $8.4B | ||
| Q1 24 | $16.5B | $8.4B |
负债/权益比BEKEJBHT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.24× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.36× | ||
| Q1 24 | — | 0.33× |
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 | — | $385.6M |
| 自由现金流经营现金流 - 资本支出 | — | $251.3M |
| 自由现金流率自由现金流/营收 | — | 8.1% |
| 资本支出强度资本支出/营收 | — | 4.3% |
| 现金转化率经营现金流/净利润 | — | 2.13× |
| 过去12个月自由现金流最近4个季度 | — | $947.6M |
8季度趋势，按日历期对齐
经营现金流BEKEJBHT
| Q4 25 | — | $385.6M | ||
| Q3 25 | — | $486.4M | ||
| Q2 25 | — | $402.1M | ||
| Q1 25 | $-546.4M | $404.2M | ||
| Q4 24 | — | $317.6M | ||
| Q3 24 | $64.0M | $338.5M | ||
| Q2 24 | — | $360.6M | ||
| Q1 24 | — | $466.5M |
自由现金流BEKEJBHT
| Q4 25 | — | $251.3M | ||
| Q3 25 | — | $352.4M | ||
| Q2 25 | — | $185.6M | ||
| Q1 25 | — | $158.4M | ||
| Q4 24 | — | $93.3M | ||
| Q3 24 | — | $163.1M | ||
| Q2 24 | — | $98.2M | ||
| Q1 24 | — | $263.1M |
自由现金流率BEKEJBHT
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 11.5% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | — | 3.4% | ||
| Q1 24 | — | 8.9% |
资本支出强度BEKEJBHT
| Q4 25 | — | 4.3% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | — | 7.4% | ||
| Q1 25 | — | 8.4% | ||
| Q4 24 | — | 7.1% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 9.0% | ||
| Q1 24 | — | 6.9% |
现金转化率BEKEJBHT
| Q4 25 | — | 2.13× | ||
| Q3 25 | — | 2.85× | ||
| Q2 25 | — | 3.13× | ||
| Q1 25 | -4.64× | 3.43× | ||
| Q4 24 | — | 2.04× | ||
| Q3 24 | 0.38× | 2.23× | ||
| Q2 24 | — | 2.65× | ||
| Q1 24 | — | 3.66× |
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% |
JBHT
| JBI | $1.5B | 50% |
| DCS | $842.8M | 27% |
| ICS | $304.5M | 10% |
| FMS | $206.3M | 7% |
| JBT | $200.7M | 6% |
