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贝壳控股（BEKE）与RUSH ENTERPRISES INC \TX\（RUSHA）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RUSH ENTERPRISES INC \TX\的1.9倍（$3.2B vs $1.7B），RUSH ENTERPRISES INC \TX\净利率更高（3.7% vs 3.2%，领先0.4%），过去两年贝壳控股的营收复合增速更高（9.8% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
BEKE vs RUSHA — 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
RUSHA
高出0.4%
3.2%
两年增速更快
BEKE
近两年复合增速
-6.8%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $1.7B |
| 净利润 | $104.9M | $61.7M |
| 毛利率 | 21.4% | 20.4% |
| 营业利润率 | 2.6% | 4.9% |
| 净利率 | 3.2% | 3.7% |
| 营收同比 | — | -9.0% |
| 净利润同比 | — | 1.8% |
| 每股收益（稀释后） | — | $0.77 |
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BEKERUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $3.2B | $1.7B | ||
| Q3 25 | $3.6B | $1.8B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | $3.2B | $1.8B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | $3.2B | $1.8B | ||
| Q2 24 | $3.2B | $1.9B |
净利润BEKERUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $104.9M | $64.3M | ||
| Q3 25 | $182.4M | $66.7M | ||
| Q2 25 | — | $72.4M | ||
| Q1 25 | $117.9M | $60.3M | ||
| Q4 24 | — | $74.8M | ||
| Q3 24 | $166.5M | $79.1M | ||
| Q2 24 | $261.5M | $78.7M |
毛利率BEKERUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | 21.4% | 20.8% | ||
| Q3 25 | 21.9% | 21.0% | ||
| Q2 25 | — | 20.7% | ||
| Q1 25 | 20.7% | 20.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | 22.7% | 21.0% | ||
| Q2 24 | 27.9% | 20.2% |
营业利润率BEKERUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 2.6% | 5.5% | ||
| Q3 25 | 4.1% | 5.6% | ||
| Q2 25 | — | 6.0% | ||
| Q1 25 | 2.5% | 5.2% | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | 3.2% | 6.7% | ||
| Q2 24 | 8.6% | 6.4% |
净利率BEKERUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 3.2% | 3.8% | ||
| Q3 25 | 5.0% | 3.7% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | 3.7% | 3.4% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | 5.2% | 4.4% | ||
| Q2 24 | 8.1% | 4.1% |
每股收益（稀释后）BEKERUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | — | $0.81 | ||
| Q3 25 | — | $0.83 | ||
| Q2 25 | — | $0.90 | ||
| Q1 25 | — | $0.73 | ||
| Q4 24 | — | $-95.13 | ||
| Q3 24 | — | $0.97 | ||
| Q2 24 | — | $97.00 |
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 | — |
| 总债务越低越好 | — | $277.8M |
| 股东权益账面价值 | — | $2.3B |
| 总资产 | $16.8B | $4.5B |
| 负债/权益比越低杠杆越低 | — | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资BEKERUSHA
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $212.6M | ||
| Q3 25 | $1.6B | $242.0M | ||
| Q2 25 | — | $211.1M | ||
| Q1 25 | $1.8B | $228.7M | ||
| Q4 24 | — | $228.1M | ||
| Q3 24 | $1.4B | $185.1M | ||
| Q2 24 | $1.3B | $167.3M |
总债务BEKERUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | — | $274.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $408.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益BEKERUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | — | $2.2B | ||
| Q3 25 | $9.6B | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | $9.5B | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | $10.1B | $2.1B | ||
| Q2 24 | $9.7B | $2.0B |
总资产BEKERUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $16.8B | $4.4B | ||
| Q3 25 | $17.3B | $4.6B | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | $18.0B | $4.7B | ||
| Q4 24 | — | $4.6B | ||
| Q3 24 | $17.5B | $4.6B | ||
| Q2 24 | $16.9B | $4.5B |
负债/权益比BEKERUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | — | $411.6M |
| 自由现金流率自由现金流/营收 | — | 24.4% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 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 | — | $828.4M |
8季度趋势，按日历期对齐
经营现金流BEKERUSHA
| Q1 26 | — | — | ||
| Q4 25 | — | $112.9M | ||
| Q3 25 | — | $367.8M | ||
| Q2 25 | — | $227.6M | ||
| Q1 25 | $-546.4M | $153.5M | ||
| Q4 24 | — | $392.3M | ||
| Q3 24 | $64.0M | $111.7M | ||
| Q2 24 | — | $270.6M |
自由现金流BEKERUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | — | $31.9M | ||
| Q3 25 | — | $271.2M | ||
| Q2 25 | — | $113.8M | ||
| Q1 25 | — | $45.1M | ||
| Q4 24 | — | $263.5M | ||
| Q3 24 | — | $-20.0M | ||
| Q2 24 | — | $177.2M |
自由现金流率BEKERUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 15.2% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | — | -1.1% | ||
| Q2 24 | — | 9.1% |
资本支出强度BEKERUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 5.4% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | — | 7.3% | ||
| Q2 24 | — | 4.8% |
现金转化率BEKERUSHA
| Q1 26 | — | — | ||
| Q4 25 | — | 1.75× | ||
| Q3 25 | — | 5.51× | ||
| Q2 25 | — | 3.14× | ||
| Q1 25 | -4.64× | 2.55× | ||
| Q4 24 | — | 5.25× | ||
| Q3 24 | 0.38× | 1.41× | ||
| Q2 24 | — | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
