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D. R. Horton（DHI）与NextEra Energy（NEE）财务数据对比。点击上方公司名可切换其他公司
D. R. Horton的季度营收约是NextEra Energy的1.1倍（$6.9B vs $6.0B），NextEra Energy净利率更高（25.6% vs 8.6%，领先17.0%），NextEra Energy同比增速更快（11.1% vs -9.5%），过去两年NextEra Energy的营收复合增速更高（5.4% vs -13.0%）
D.R.霍顿是总部位于美国得克萨斯州阿灵顿的住宅建造企业，自2002年起持续成为美国交付量最高的住宅建筑商，业务覆盖全美36个州的125个市场，2024年按营收规模位列《财富》美国500强榜单第120位。
NextEra Energy是美国能源企业，也是全球市值最高的电力公用事业控股公司，截至2024年10月市值超1700亿美元。2024年营收达248亿美元，在美加两国共有1.67万名员工，当前发电装机容量为73吉瓦，旗下拥有佛罗里达电力照明等多家子公司。
DHI vs NEE — 直观对比
营收规模更大
DHI
是对方的1.1倍
$6.0B
营收增速更快
NEE
高出20.6%
-9.5%
净利率更高
NEE
高出17.0%
8.6%
两年增速更快
NEE
近两年复合增速
-13.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.9B | $6.0B |
| 净利润 | $594.8M | $1.5B |
| 毛利率 | 23.2% | — |
| 营业利润率 | — | 26.4% |
| 净利率 | 8.6% | 25.6% |
| 营收同比 | -9.5% | 11.1% |
| 净利润同比 | -29.6% | 27.6% |
| 每股收益（稀释后） | $2.03 | $0.74 |
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DHINEE
| Q4 25 | $6.9B | $6.0B | ||
| Q3 25 | $9.7B | $7.4B | ||
| Q2 25 | $9.2B | $6.4B | ||
| Q1 25 | $7.7B | $6.0B | ||
| Q4 24 | $7.6B | $5.4B | ||
| Q3 24 | $10.0B | $6.7B | ||
| Q2 24 | $10.0B | $6.0B | ||
| Q1 24 | $9.1B | $5.4B |
净利润DHINEE
| Q4 25 | $594.8M | $1.5B | ||
| Q3 25 | $905.3M | $2.4B | ||
| Q2 25 | $1.0B | $2.0B | ||
| Q1 25 | $810.4M | $833.0M | ||
| Q4 24 | $844.9M | $1.2B | ||
| Q3 24 | $1.3B | $1.9B | ||
| Q2 24 | $1.4B | $1.6B | ||
| Q1 24 | $1.2B | $2.3B |
毛利率DHINEE
| Q4 25 | 23.2% | — | ||
| Q3 25 | 21.7% | — | ||
| Q2 25 | 23.9% | — | ||
| Q1 25 | 24.6% | — | ||
| Q4 24 | 25.1% | — | ||
| Q3 24 | 25.5% | — | ||
| Q2 24 | 26.5% | — | ||
| Q1 24 | 25.6% | — |
营业利润率DHINEE
| Q4 25 | — | 26.4% | ||
| Q3 25 | 12.4% | 34.1% | ||
| Q2 25 | 14.7% | 29.9% | ||
| Q1 25 | 13.8% | 37.6% | ||
| Q4 24 | 14.6% | 17.4% | ||
| Q3 24 | 17.1% | 42.6% | ||
| Q2 24 | 18.1% | 27.8% | ||
| Q1 24 | 16.8% | 37.3% |
净利率DHINEE
| Q4 25 | 8.6% | 25.6% | ||
| Q3 25 | 9.4% | 32.9% | ||
| Q2 25 | 11.1% | 31.7% | ||
| Q1 25 | 10.5% | 13.9% | ||
| Q4 24 | 11.1% | 22.3% | ||
| Q3 24 | 12.8% | 27.6% | ||
| Q2 24 | 13.6% | 27.0% | ||
| Q1 24 | 12.9% | 42.0% |
每股收益（稀释后）DHINEE
| Q4 25 | $2.03 | $0.74 | ||
| Q3 25 | $3.02 | $1.18 | ||
| Q2 25 | $3.36 | $0.98 | ||
| Q1 25 | $2.58 | $0.40 | ||
| Q4 24 | $2.61 | $0.58 | ||
| Q3 24 | $3.90 | $0.90 | ||
| Q2 24 | $4.10 | $0.79 | ||
| Q1 24 | $3.52 | $1.10 |
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 | $2.5B | $2.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $24.0B | $54.6B |
| 总资产 | $34.6B | $212.7B |
| 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DHINEE
| Q4 25 | $2.5B | $2.8B | ||
| Q3 25 | $3.0B | $2.4B | ||
| Q2 25 | $2.6B | $1.7B | ||
| Q1 25 | $2.5B | $2.4B | ||
| Q4 24 | $3.1B | $1.5B | ||
| Q3 24 | $4.5B | $2.3B | ||
| Q2 24 | $3.0B | $1.6B | ||
| Q1 24 | $3.1B | $1.6B |
股东权益DHINEE
| Q4 25 | $24.0B | $54.6B | ||
| Q3 25 | $24.2B | $54.2B | ||
| Q2 25 | $24.1B | $50.8B | ||
| Q1 25 | $24.3B | $49.8B | ||
| Q4 24 | $24.9B | $50.1B | ||
| Q3 24 | $25.3B | $50.1B | ||
| Q2 24 | $24.7B | $49.1B | ||
| Q1 24 | $23.8B | $48.6B |
总资产DHINEE
| Q4 25 | $34.6B | $212.7B | ||
| Q3 25 | $35.5B | $204.4B | ||
| Q2 25 | $36.4B | $198.8B | ||
| Q1 25 | $35.7B | $194.3B | ||
| Q4 24 | $35.0B | $190.1B | ||
| Q3 24 | $36.1B | $186.0B | ||
| Q2 24 | $35.2B | $184.7B | ||
| Q1 24 | $34.4B | $179.9B |
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 | $854.0M | $2.5B |
| 自由现金流经营现金流 - 资本支出 | $826.6M | — |
| 自由现金流率自由现金流/营收 | 12.0% | — |
| 资本支出强度资本支出/营收 | 0.4% | — |
| 现金转化率经营现金流/净利润 | 1.44× | 1.63× |
| 过去12个月自由现金流最近4个季度 | $3.5B | — |
8季度趋势，按日历期对齐
经营现金流DHINEE
| Q4 25 | $854.0M | $2.5B | ||
| Q3 25 | $2.5B | $4.0B | ||
| Q2 25 | $738.6M | $3.2B | ||
| Q1 25 | $-436.2M | $2.8B | ||
| Q4 24 | $646.7M | $2.0B | ||
| Q3 24 | $2.0B | $4.3B | ||
| Q2 24 | $698.3M | $3.9B | ||
| Q1 24 | $-316.7M | $3.1B |
自由现金流DHINEE
| Q4 25 | $826.6M | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $692.6M | — | ||
| Q1 25 | $-470.5M | — | ||
| Q4 24 | $633.4M | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $636.3M | — | ||
| Q1 24 | $-340.4M | — |
自由现金流率DHINEE
| Q4 25 | 12.0% | — | ||
| Q3 25 | 25.1% | — | ||
| Q2 25 | 7.5% | — | ||
| Q1 25 | -6.1% | — | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 19.3% | — | ||
| Q2 24 | 6.4% | — | ||
| Q1 24 | -3.7% | — |
资本支出强度DHINEE
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.3% | — | ||
| Q2 24 | 0.6% | — | ||
| Q1 24 | 0.3% | — |
现金转化率DHINEE
| Q4 25 | 1.44× | 1.63× | ||
| Q3 25 | 2.73× | 1.65× | ||
| Q2 25 | 0.72× | 1.57× | ||
| Q1 25 | -0.54× | 3.32× | ||
| Q4 24 | 0.77× | 1.65× | ||
| Q3 24 | 1.53× | 2.31× | ||
| Q2 24 | 0.52× | 2.42× | ||
| Q1 24 | -0.27× | 1.36× |
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
DHI
| Home Building Ops | $6.5B | 95% |
| Eliminations And Other | $209.1M | 3% |
| Financial Services | $184.6M | 3% |
| Land | $16.2M | 0% |
NEE
| Florida Power Light Company | $4.3B | 71% |
| Other | $1.7B | 29% |
