vs
Dream Finders Homes, Inc.（DFH）与希悦尔（SEE）财务数据对比。点击上方公司名可切换其他公司
希悦尔的季度营收约是Dream Finders Homes, Inc.的1.1倍（$1.4B vs $1.2B），Dream Finders Homes, Inc.净利率更高（4.8% vs 3.1%，领先1.7%），希悦尔同比增速更快（2.6% vs -22.3%），希悦尔自由现金流更多（$257.7M vs $136.0M），过去两年Dream Finders Homes, Inc.的营收复合增速更高（21.0% vs 2.7%）
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。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
DFH vs SEE — 直观对比
营收规模更大
SEE
是对方的1.1倍
$1.2B
营收增速更快
SEE
高出24.9%
-22.3%
净利率更高
DFH
高出1.7%
3.1%
自由现金流更多
SEE
多$121.7M
$136.0M
两年增速更快
DFH
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.4B |
| 净利润 | $58.8M | $43.8M |
| 毛利率 | — | 28.6% |
| 营业利润率 | 6.4% | 11.4% |
| 净利率 | 4.8% | 3.1% |
| 营收同比 | -22.3% | 2.6% |
| 净利润同比 | -54.9% | 700.0% |
| 每股收益（稀释后） | $0.57 | $0.30 |
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DFHSEE
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $969.8M | $1.3B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $989.9M | $1.3B | ||
| Q4 24 | $1.6B | $1.4B | ||
| Q3 24 | $1.0B | $1.3B | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $827.8M | $1.3B |
净利润DFHSEE
| Q4 25 | $58.8M | $43.8M | ||
| Q3 25 | $47.0M | $255.1M | ||
| Q2 25 | $56.6M | $93.1M | ||
| Q1 25 | $54.9M | $113.5M | ||
| Q4 24 | $130.5M | $-7.3M | ||
| Q3 24 | $70.7M | $91.7M | ||
| Q2 24 | $80.9M | $98.3M | ||
| Q1 24 | $54.5M | $82.0M |
毛利率DFHSEE
| Q4 25 | — | 28.6% | ||
| Q3 25 | — | 29.8% | ||
| Q2 25 | — | 30.7% | ||
| Q1 25 | — | 30.9% | ||
| Q4 24 | — | 30.0% | ||
| Q3 24 | — | 30.1% | ||
| Q2 24 | 19.2% | 31.2% | ||
| Q1 24 | 18.0% | 30.3% |
营业利润率DFHSEE
| Q4 25 | 6.4% | 11.4% | ||
| Q3 25 | 6.3% | 13.8% | ||
| Q2 25 | 6.4% | 15.0% | ||
| Q1 25 | 7.2% | 14.5% | ||
| Q4 24 | 10.8% | 11.7% | ||
| Q3 24 | 9.2% | 13.9% | ||
| Q2 24 | 10.0% | 15.4% | ||
| Q1 24 | 8.6% | 14.0% |
净利率DFHSEE
| Q4 25 | 4.8% | 3.1% | ||
| Q3 25 | 4.8% | 19.0% | ||
| Q2 25 | 4.9% | 7.0% | ||
| Q1 25 | 5.5% | 9.0% | ||
| Q4 24 | 8.4% | -0.5% | ||
| Q3 24 | 7.0% | 6.9% | ||
| Q2 24 | 7.7% | 7.4% | ||
| Q1 24 | 6.6% | 6.2% |
每股收益（稀释后）DFHSEE
| Q4 25 | $0.57 | $0.30 | ||
| Q3 25 | $0.47 | $1.73 | ||
| Q2 25 | $0.56 | $0.63 | ||
| Q1 25 | $0.54 | $0.77 | ||
| Q4 24 | $1.28 | $-0.05 | ||
| Q3 24 | $0.70 | $0.63 | ||
| Q2 24 | $0.81 | $0.67 | ||
| Q1 24 | $0.55 | $0.56 |
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 | $234.8M | $344.0M |
| 总债务越低越好 | $1.6B | $3.3B |
| 股东权益账面价值 | $1.4B | $1.2B |
| 总资产 | $3.7B | $7.0B |
| 负债/权益比越低杠杆越低 | 1.13× | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资DFHSEE
| Q4 25 | $234.8M | $344.0M | ||
| Q3 25 | $251.0M | $282.5M | ||
| Q2 25 | $210.3M | $354.4M | ||
| Q1 25 | $297.5M | $335.2M | ||
| Q4 24 | $274.4M | $371.8M | ||
| Q3 24 | $204.9M | $386.0M | ||
| Q2 24 | $274.8M | $388.6M | ||
| Q1 24 | $239.4M | $352.8M |
总债务DFHSEE
| Q4 25 | $1.6B | $3.3B | ||
| Q3 25 | $1.8B | $4.0B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | $1.3B | $4.2B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $4.5B |
股东权益DFHSEE
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.3B | $953.1M | ||
| Q1 25 | $1.3B | $797.9M | ||
| Q4 24 | $1.2B | $624.5M | ||
| Q3 24 | $1.1B | $771.2M | ||
| Q2 24 | $1.0B | $650.1M | ||
| Q1 24 | $968.7M | $598.3M |
总资产DFHSEE
| Q4 25 | $3.7B | $7.0B | ||
| Q3 25 | $3.8B | $7.1B | ||
| Q2 25 | $3.7B | $7.2B | ||
| Q1 25 | $3.5B | $7.0B | ||
| Q4 24 | $3.3B | $7.0B | ||
| Q3 24 | $3.3B | $7.3B | ||
| Q2 24 | $3.0B | $7.3B | ||
| Q1 24 | $2.7B | $7.2B |
负债/权益比DFHSEE
| Q4 25 | 1.13× | 2.65× | ||
| Q3 25 | 1.29× | 3.34× | ||
| Q2 25 | — | 4.18× | ||
| Q1 25 | — | 5.26× | ||
| Q4 24 | 1.03× | 6.72× | ||
| Q3 24 | — | 5.62× | ||
| Q2 24 | — | 6.81× | ||
| Q1 24 | — | 7.49× |
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 | $143.6M | $293.6M |
| 自由现金流经营现金流 - 资本支出 | $136.0M | $257.7M |
| 自由现金流率自由现金流/营收 | 11.2% | 18.5% |
| 资本支出强度资本支出/营收 | 0.6% | 2.6% |
| 现金转化率经营现金流/净利润 | 2.44× | 6.70× |
| 过去12个月自由现金流最近4个季度 | $-126.4M | $458.5M |
8季度趋势，按日历期对齐
经营现金流DFHSEE
| Q4 25 | $143.6M | $293.6M | ||
| Q3 25 | $-131.0M | $165.9M | ||
| Q2 25 | $-68.5M | $136.6M | ||
| Q1 25 | $-44.7M | $31.9M | ||
| Q4 24 | $306.5M | $244.2M | ||
| Q3 24 | $-205.0M | $170.5M | ||
| Q2 24 | $-110.6M | $188.2M | ||
| Q1 24 | $-247.5M | $125.1M |
自由现金流DFHSEE
| Q4 25 | $136.0M | $257.7M | ||
| Q3 25 | $-135.7M | $119.6M | ||
| Q2 25 | $-78.8M | $93.2M | ||
| Q1 25 | $-47.9M | $-12.0M | ||
| Q4 24 | $302.6M | $185.1M | ||
| Q3 24 | $-222.5M | $115.2M | ||
| Q2 24 | $-112.4M | $129.5M | ||
| Q1 24 | $-249.6M | $78.0M |
自由现金流率DFHSEE
| Q4 25 | 11.2% | 18.5% | ||
| Q3 25 | -14.0% | 8.9% | ||
| Q2 25 | -6.8% | 7.0% | ||
| Q1 25 | -4.8% | -0.9% | ||
| Q4 24 | 19.4% | 13.6% | ||
| Q3 24 | -22.1% | 8.6% | ||
| Q2 24 | -10.6% | 9.7% | ||
| Q1 24 | -30.2% | 5.9% |
资本支出强度DFHSEE
| Q4 25 | 0.6% | 2.6% | ||
| Q3 25 | 0.5% | 3.4% | ||
| Q2 25 | 0.9% | 3.3% | ||
| Q1 25 | 0.3% | 3.5% | ||
| Q4 24 | 0.3% | 4.4% | ||
| Q3 24 | 1.7% | 4.1% | ||
| Q2 24 | 0.2% | 4.4% | ||
| Q1 24 | 0.3% | 3.6% |
现金转化率DFHSEE
| Q4 25 | 2.44× | 6.70× | ||
| Q3 25 | -2.79× | 0.65× | ||
| Q2 25 | -1.21× | 1.47× | ||
| Q1 25 | -0.81× | 0.28× | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | -2.90× | 1.86× | ||
| Q2 24 | -1.37× | 1.91× | ||
| Q1 24 | -4.54× | 1.53× |
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
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
