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TopBuild Corp（BLD）与Dream Finders Homes, Inc.（DFH）财务数据对比。点击上方公司名可切换其他公司
TopBuild Corp的季度营收约是Dream Finders Homes, Inc.的1.2倍（$1.5B vs $1.2B），TopBuild Corp净利率更高（7.0% vs 4.8%，领先2.2%），TopBuild Corp同比增速更快（13.2% vs -22.3%），TopBuild Corp自由现金流更多（$159.4M vs $136.0M），过去两年Dream Finders Homes, Inc.的营收复合增速更高（21.0% vs 7.8%）
HashiCorp是总部位于美国加利福尼亚州旧金山的软件企业，2012年由米切尔·桥本与阿蒙·达德加创立，采用免费增值商业模式，为开发、运维及安全从业人员提供云基础设施配置、防护、运行与连接相关的工具及产品。
美国住宅建筑商Dream Finders Homes主要建造并销售独栋住宅、联排别墅等覆盖入门级到高端档次的居住物业，业务布局美国多个高速增长区域，同时为购房者提供按揭融资、产权保险、房屋保修等配套服务，覆盖各类客户群体。
BLD vs DFH — 直观对比
营收规模更大
BLD
是对方的1.2倍
$1.2B
营收增速更快
BLD
高出35.4%
-22.3%
净利率更高
BLD
高出2.2%
4.8%
自由现金流更多
BLD
多$23.3M
$136.0M
两年增速更快
DFH
近两年复合增速
7.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.2B |
| 净利润 | $104.5M | $58.8M |
| 毛利率 | 27.2% | — |
| 营业利润率 | 12.1% | 6.4% |
| 净利率 | 7.0% | 4.8% |
| 营收同比 | 13.2% | -22.3% |
| 净利润同比 | -30.6% | -54.9% |
| 每股收益（稀释后） | $3.69 | $0.57 |
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BLDDFH
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.4B | $969.8M | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.2B | $989.9M | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.3B | $827.8M |
净利润BLDDFH
| Q4 25 | $104.5M | $58.8M | ||
| Q3 25 | $142.2M | $47.0M | ||
| Q2 25 | $151.6M | $56.6M | ||
| Q1 25 | $123.4M | $54.9M | ||
| Q4 24 | $150.5M | $130.5M | ||
| Q3 24 | $169.0M | $70.7M | ||
| Q2 24 | $150.7M | $80.9M | ||
| Q1 24 | $152.4M | $54.5M |
毛利率BLDDFH
| Q4 25 | 27.2% | — | ||
| Q3 25 | 30.1% | — | ||
| Q2 25 | 30.4% | — | ||
| Q1 25 | 28.5% | — | ||
| Q4 24 | 29.9% | — | ||
| Q3 24 | 30.7% | — | ||
| Q2 24 | 31.0% | 19.2% | ||
| Q1 24 | 30.3% | 18.0% |
营业利润率BLDDFH
| Q4 25 | 12.1% | 6.4% | ||
| Q3 25 | 15.4% | 6.3% | ||
| Q2 25 | 16.9% | 6.4% | ||
| Q1 25 | 14.4% | 7.2% | ||
| Q4 24 | 16.6% | 10.8% | ||
| Q3 24 | 17.8% | 9.2% | ||
| Q2 24 | 15.4% | 10.0% | ||
| Q1 24 | 16.8% | 8.6% |
净利率BLDDFH
| Q4 25 | 7.0% | 4.8% | ||
| Q3 25 | 10.2% | 4.8% | ||
| Q2 25 | 11.7% | 4.9% | ||
| Q1 25 | 10.0% | 5.5% | ||
| Q4 24 | 11.5% | 8.4% | ||
| Q3 24 | 12.3% | 7.0% | ||
| Q2 24 | 11.0% | 7.7% | ||
| Q1 24 | 11.9% | 6.6% |
每股收益（稀释后）BLDDFH
| Q4 25 | $3.69 | $0.57 | ||
| Q3 25 | $5.04 | $0.47 | ||
| Q2 25 | $5.32 | $0.56 | ||
| Q1 25 | $4.23 | $0.54 | ||
| Q4 24 | $5.07 | $1.28 | ||
| Q3 24 | $5.65 | $0.70 | ||
| Q2 24 | $4.78 | $0.81 | ||
| Q1 24 | $4.79 | $0.55 |
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 | $184.7M | $234.8M |
| 总债务越低越好 | $2.8B | $1.6B |
| 股东权益账面价值 | $2.3B | $1.4B |
| 总资产 | $6.6B | $3.7B |
| 负债/权益比越低杠杆越低 | 1.23× | 1.13× |
8季度趋势，按日历期对齐
现金及短期投资BLDDFH
| Q4 25 | $184.7M | $234.8M | ||
| Q3 25 | $1.1B | $251.0M | ||
| Q2 25 | $842.5M | $210.3M | ||
| Q1 25 | $308.8M | $297.5M | ||
| Q4 24 | $400.3M | $274.4M | ||
| Q3 24 | $257.3M | $204.9M | ||
| Q2 24 | $463.2M | $274.8M | ||
| Q1 24 | $968.8M | $239.4M |
总债务BLDDFH
| Q4 25 | $2.8B | $1.6B | ||
| Q3 25 | $2.9B | $1.8B | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
股东权益BLDDFH
| Q4 25 | $2.3B | $1.4B | ||
| Q3 25 | $2.2B | $1.4B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.2B | $1.2B | ||
| Q3 24 | $2.1B | $1.1B | ||
| Q2 24 | $2.4B | $1.0B | ||
| Q1 24 | $2.7B | $968.7M |
总资产BLDDFH
| Q4 25 | $6.6B | $3.7B | ||
| Q3 25 | $6.4B | $3.8B | ||
| Q2 25 | $5.1B | $3.7B | ||
| Q1 25 | $4.6B | $3.5B | ||
| Q4 24 | $4.7B | $3.3B | ||
| Q3 24 | $4.7B | $3.3B | ||
| Q2 24 | $4.9B | $3.0B | ||
| Q1 24 | $5.3B | $2.7B |
负债/权益比BLDDFH
| Q4 25 | 1.23× | 1.13× | ||
| Q3 25 | 1.29× | 1.29× | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.62× | 1.03× | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.52× | — |
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 | $176.7M | $143.6M |
| 自由现金流经营现金流 - 资本支出 | $159.4M | $136.0M |
| 自由现金流率自由现金流/营收 | 10.7% | 11.2% |
| 资本支出强度资本支出/营收 | 1.2% | 0.6% |
| 现金转化率经营现金流/净利润 | 1.69× | 2.44× |
| 过去12个月自由现金流最近4个季度 | $696.9M | $-126.4M |
8季度趋势，按日历期对齐
经营现金流BLDDFH
| Q4 25 | $176.7M | $143.6M | ||
| Q3 25 | $233.3M | $-131.0M | ||
| Q2 25 | $193.7M | $-68.5M | ||
| Q1 25 | $152.6M | $-44.7M | ||
| Q4 24 | $266.2M | $306.5M | ||
| Q3 24 | $240.7M | $-205.0M | ||
| Q2 24 | $90.4M | $-110.6M | ||
| Q1 24 | $178.8M | $-247.5M |
自由现金流BLDDFH
| Q4 25 | $159.4M | $136.0M | ||
| Q3 25 | $216.2M | $-135.7M | ||
| Q2 25 | $182.2M | $-78.8M | ||
| Q1 25 | $139.2M | $-47.9M | ||
| Q4 24 | $253.7M | $302.6M | ||
| Q3 24 | $219.8M | $-222.5M | ||
| Q2 24 | $74.3M | $-112.4M | ||
| Q1 24 | $158.9M | $-249.6M |
自由现金流率BLDDFH
| Q4 25 | 10.7% | 11.2% | ||
| Q3 25 | 15.5% | -14.0% | ||
| Q2 25 | 14.0% | -6.8% | ||
| Q1 25 | 11.3% | -4.8% | ||
| Q4 24 | 19.3% | 19.4% | ||
| Q3 24 | 16.0% | -22.1% | ||
| Q2 24 | 5.4% | -10.6% | ||
| Q1 24 | 12.4% | -30.2% |
资本支出强度BLDDFH
| Q4 25 | 1.2% | 0.6% | ||
| Q3 25 | 1.2% | 0.5% | ||
| Q2 25 | 0.9% | 0.9% | ||
| Q1 25 | 1.1% | 0.3% | ||
| Q4 24 | 1.0% | 0.3% | ||
| Q3 24 | 1.5% | 1.7% | ||
| Q2 24 | 1.2% | 0.2% | ||
| Q1 24 | 1.6% | 0.3% |
现金转化率BLDDFH
| Q4 25 | 1.69× | 2.44× | ||
| Q3 25 | 1.64× | -2.79× | ||
| Q2 25 | 1.28× | -1.21× | ||
| Q1 25 | 1.24× | -0.81× | ||
| Q4 24 | 1.77× | 2.35× | ||
| Q3 24 | 1.42× | -2.90× | ||
| Q2 24 | 0.60× | -1.37× | ||
| Q1 24 | 1.17× | -4.54× |
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
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
