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Builders FirstSource（BLDR）与Toll Brothers, Inc.（TOL）财务数据对比。点击上方公司名可切换其他公司
Toll Brothers, Inc.的季度营收约是Builders FirstSource的1.0倍（$3.4B vs $3.4B），Toll Brothers, Inc.净利率更高（13.0% vs 0.9%，领先12.1%），Toll Brothers, Inc.同比增速更快（2.7% vs -12.1%），Toll Brothers, Inc.自由现金流更多（$772.2M vs $106.7M），过去两年Toll Brothers, Inc.的营收复合增速更高（32.6% vs -7.1%）
Builders FirstSource是财富500强企业，成立于1998年3月，总部位于美国得克萨斯州欧文，是美国规模最大的建筑产品、预制构件及增值服务供应商，同时生产制造建筑材料。公司在全美拥有超1.5万名员工，服务于新建住宅施工、维修及翻新领域的专业客户。
Toll Brothers, Inc.是美国知名住宅建造企业，业务涵盖美国境内住宅及商业地产的开发、营销与融资服务。2020年按住宅建造营收统计，该公司为全美第五大房屋建造商，位列《财富》美国500强第411位。
BLDR vs TOL — 直观对比
营收规模更大
TOL
是对方的1.0倍
$3.4B
营收增速更快
TOL
高出14.8%
-12.1%
净利率更高
TOL
高出12.1%
0.9%
自由现金流更多
TOL
多$665.5M
$106.7M
两年增速更快
TOL
近两年复合增速
-7.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $3.4B |
| 净利润 | $31.5M | $446.7M |
| 毛利率 | 29.8% | 24.8% |
| 营业利润率 | 1.8% | 16.5% |
| 净利率 | 0.9% | 13.0% |
| 营收同比 | -12.1% | 2.7% |
| 净利润同比 | -83.5% | -6.0% |
| 每股收益（稀释后） | $0.29 | $4.51 |
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BLDRTOL
| Q4 25 | $3.4B | $3.4B | ||
| Q3 25 | $3.9B | $2.9B | ||
| Q2 25 | $4.2B | $2.7B | ||
| Q1 25 | $3.7B | $1.9B | ||
| Q4 24 | $3.8B | $3.3B | ||
| Q3 24 | $4.2B | $2.7B | ||
| Q2 24 | $4.5B | $2.8B | ||
| Q1 24 | $3.9B | $1.9B |
净利润BLDRTOL
| Q4 25 | $31.5M | $446.7M | ||
| Q3 25 | $122.4M | $369.6M | ||
| Q2 25 | $185.0M | $352.4M | ||
| Q1 25 | $96.3M | $177.7M | ||
| Q4 24 | $190.2M | $475.4M | ||
| Q3 24 | $284.8M | $374.6M | ||
| Q2 24 | $344.1M | $481.6M | ||
| Q1 24 | $258.8M | $239.6M |
毛利率BLDRTOL
| Q4 25 | 29.8% | 24.8% | ||
| Q3 25 | 30.4% | 25.2% | ||
| Q2 25 | 30.7% | 25.8% | ||
| Q1 25 | 30.5% | 24.7% | ||
| Q4 24 | 32.3% | 26.4% | ||
| Q3 24 | 32.8% | 27.2% | ||
| Q2 24 | 32.8% | 30.4% | ||
| Q1 24 | 33.4% | 27.6% |
营业利润率BLDRTOL
| Q4 25 | 1.8% | 16.5% | ||
| Q3 25 | 5.8% | 16.6% | ||
| Q2 25 | 7.4% | 16.4% | ||
| Q1 25 | 5.0% | 11.8% | ||
| Q4 24 | 8.0% | 18.3% | ||
| Q3 24 | 10.1% | 18.2% | ||
| Q2 24 | 11.0% | 22.0% | ||
| Q1 24 | 9.6% | 15.8% |
净利率BLDRTOL
| Q4 25 | 0.9% | 13.0% | ||
| Q3 25 | 3.1% | 12.6% | ||
| Q2 25 | 4.4% | 12.9% | ||
| Q1 25 | 2.6% | 9.6% | ||
| Q4 24 | 5.0% | 14.3% | ||
| Q3 24 | 6.7% | 13.7% | ||
| Q2 24 | 7.7% | 17.0% | ||
| Q1 24 | 6.7% | 12.3% |
每股收益（稀释后）BLDRTOL
| Q4 25 | $0.29 | $4.51 | ||
| Q3 25 | $1.10 | $3.73 | ||
| Q2 25 | $1.66 | $3.50 | ||
| Q1 25 | $0.84 | $1.75 | ||
| Q4 24 | $1.65 | $4.61 | ||
| Q3 24 | $2.44 | $3.60 | ||
| Q2 24 | $2.87 | $4.55 | ||
| Q1 24 | $2.10 | $2.25 |
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 | $181.8M | $1.3B |
| 总债务越低越好 | $4.4B | — |
| 股东权益账面价值 | $4.4B | $8.3B |
| 总资产 | $11.2B | $14.5B |
| 负债/权益比越低杠杆越低 | 1.02× | — |
8季度趋势，按日历期对齐
现金及短期投资BLDRTOL
| Q4 25 | $181.8M | $1.3B | ||
| Q3 25 | $296.2M | $852.3M | ||
| Q2 25 | $87.0M | $686.5M | ||
| Q1 25 | $115.4M | $574.8M | ||
| Q4 24 | $153.6M | $1.3B | ||
| Q3 24 | $328.1M | $893.4M | ||
| Q2 24 | $75.6M | $1.0B | ||
| Q1 24 | $697.5M | $754.8M |
总债务BLDRTOL
| Q4 25 | $4.4B | — | ||
| Q3 25 | $4.4B | — | ||
| Q2 25 | $4.7B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $3.7B | — | ||
| Q2 24 | $3.8B | — | ||
| Q1 24 | $3.7B | — |
股东权益BLDRTOL
| Q4 25 | $4.4B | $8.3B | ||
| Q3 25 | $4.3B | $8.1B | ||
| Q2 25 | $4.2B | $7.9B | ||
| Q1 25 | $4.4B | $7.8B | ||
| Q4 24 | $4.3B | $7.7B | ||
| Q3 24 | $4.4B | $7.4B | ||
| Q2 24 | $4.3B | $7.3B | ||
| Q1 24 | $5.0B | $7.0B |
总资产BLDRTOL
| Q4 25 | $11.2B | $14.5B | ||
| Q3 25 | $11.4B | $14.4B | ||
| Q2 25 | $11.5B | $14.2B | ||
| Q1 25 | $11.4B | $13.6B | ||
| Q4 24 | $10.6B | $13.4B | ||
| Q3 24 | $10.9B | $13.4B | ||
| Q2 24 | $10.7B | $13.3B | ||
| Q1 24 | $11.2B | $12.5B |
负债/权益比BLDRTOL
| Q4 25 | 1.02× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 1.02× | — | ||
| Q4 24 | 0.86× | — | ||
| Q3 24 | 0.83× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 0.75× | — |
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 | $194.8M | $800.0M |
| 自由现金流经营现金流 - 资本支出 | $106.7M | $772.2M |
| 自由现金流率自由现金流/营收 | 3.2% | 22.6% |
| 资本支出强度资本支出/营收 | 2.6% | 0.8% |
| 现金转化率经营现金流/净利润 | 6.19× | 1.79× |
| 过去12个月自由现金流最近4个季度 | $853.3M | $1.0B |
8季度趋势，按日历期对齐
经营现金流BLDRTOL
| Q4 25 | $194.8M | $800.0M | ||
| Q3 25 | $547.7M | $370.3M | ||
| Q2 25 | $341.0M | $362.8M | ||
| Q1 25 | $132.3M | $-420.8M | ||
| Q4 24 | $373.5M | $682.5M | ||
| Q3 24 | $730.0M | $175.6M | ||
| Q2 24 | $452.1M | $459.0M | ||
| Q1 24 | $317.2M | $-307.0M |
自由现金流BLDRTOL
| Q4 25 | $106.7M | $772.2M | ||
| Q3 25 | $461.9M | $344.9M | ||
| Q2 25 | $252.3M | $347.3M | ||
| Q1 25 | $32.4M | $-438.1M | ||
| Q4 24 | $273.8M | $664.3M | ||
| Q3 24 | $630.4M | $149.9M | ||
| Q2 24 | $364.0M | $442.9M | ||
| Q1 24 | $224.0M | $-320.6M |
自由现金流率BLDRTOL
| Q4 25 | 3.2% | 22.6% | ||
| Q3 25 | 11.7% | 11.7% | ||
| Q2 25 | 6.0% | 12.7% | ||
| Q1 25 | 0.9% | -23.6% | ||
| Q4 24 | 7.2% | 19.9% | ||
| Q3 24 | 14.9% | 5.5% | ||
| Q2 24 | 8.2% | 15.6% | ||
| Q1 24 | 5.8% | -16.5% |
资本支出强度BLDRTOL
| Q4 25 | 2.6% | 0.8% | ||
| Q3 25 | 2.2% | 0.9% | ||
| Q2 25 | 2.1% | 0.6% | ||
| Q1 25 | 2.7% | 0.9% | ||
| Q4 24 | 2.6% | 0.5% | ||
| Q3 24 | 2.4% | 0.9% | ||
| Q2 24 | 2.0% | 0.6% | ||
| Q1 24 | 2.4% | 0.7% |
现金转化率BLDRTOL
| Q4 25 | 6.19× | 1.79× | ||
| Q3 25 | 4.48× | 1.00× | ||
| Q2 25 | 1.84× | 1.03× | ||
| Q1 25 | 1.37× | -2.37× | ||
| Q4 24 | 1.96× | 1.44× | ||
| Q3 24 | 2.56× | 0.47× | ||
| Q2 24 | 1.31× | 0.95× | ||
| Q1 24 | 1.23× | -1.28× |
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
BLDR
| Specialty Building Products And Services | $949.0M | 28% |
| Windows Doors And Millwork | $893.5M | 27% |
| Lumber And Lumber Sheet Goods | $772.6M | 23% |
| Manufactured Products | $742.8M | 22% |
TOL
| Home Building | $3.4B | 100% |
| Land | $9.4M | 0% |
