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Douglas Elliman Inc.（DOUG）与eXp World Holdings, Inc.（EXPI）财务数据对比。点击上方公司名可切换其他公司
eXp World Holdings, Inc.的季度营收约是Douglas Elliman Inc.的4.9倍（$1.2B vs $245.4M）。Douglas Elliman Inc.净利率更高（27.9% vs -1.1%，领先29.0%）。eXp World Holdings, Inc.同比增速更快（8.5% vs 0.9%）。eXp World Holdings, Inc.自由现金流更多（$11.9M vs $-14.7M）。过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs 10.7%）
Douglas Elliman Inc.是美国领先的住宅房地产经纪企业，提供高端房产买卖、租赁、物业管理及相关咨询服务，核心业务覆盖纽约、加州、佛罗里达、得克萨斯等都会区，主要服务高净值客户群体。
eXp World Holdings是全球云原生房地产服务提供商，运营eXp Realty经纪网络，依托沉浸式3D虚拟园区支持代理人协作与日常运营，业务覆盖全球20余个国家的住宅及商业地产市场，同时提供按揭贷款、产权保险、从业者职业培训等配套服务。
DOUG vs EXPI — 直观对比
营收规模更大
EXPI
是对方的4.9倍
$245.4M
营收增速更快
EXPI
高出7.7%
0.9%
净利率更高
DOUG
高出29.0%
-1.1%
自由现金流更多
EXPI
多$26.6M
$-14.7M
两年增速更快
EXPI
近两年复合增速
10.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $245.4M | $1.2B |
| 净利润 | $68.6M | $-12.9M |
| 毛利率 | — | — |
| 营业利润率 | 27.3% | -1.1% |
| 净利率 | 27.9% | -1.1% |
| 营收同比 | 0.9% | 8.5% |
| 净利润同比 | 1243.4% | -35.7% |
| 每股收益（稀释后） | $0.80 | $-0.08 |
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DOUGEXPI
| Q4 25 | $245.4M | $1.2B | ||
| Q3 25 | $262.8M | $1.3B | ||
| Q2 25 | $271.4M | $1.3B | ||
| Q1 25 | $253.4M | $954.9M | ||
| Q4 24 | $243.3M | $1.1B | ||
| Q3 24 | $266.3M | $1.2B | ||
| Q2 24 | $285.8M | $1.3B | ||
| Q1 24 | $200.2M | $943.1M |
净利润DOUGEXPI
| Q4 25 | $68.6M | $-12.9M | ||
| Q3 25 | $-24.7M | $3.5M | ||
| Q2 25 | $-22.7M | $-2.3M | ||
| Q1 25 | $-6.0M | $-11.0M | ||
| Q4 24 | $-6.0M | $-9.5M | ||
| Q3 24 | $-27.2M | $-8.5M | ||
| Q2 24 | $-1.7M | $12.4M | ||
| Q1 24 | $-41.5M | $-15.6M |
毛利率DOUGEXPI
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 99.9% | ||
| Q2 24 | — | 99.9% | ||
| Q1 24 | — | — |
营业利润率DOUGEXPI
| Q4 25 | 27.3% | -1.1% | ||
| Q3 25 | -4.1% | 0.3% | ||
| Q2 25 | -2.0% | -0.2% | ||
| Q1 25 | -2.1% | -1.1% | ||
| Q4 24 | -6.7% | -1.0% | ||
| Q3 24 | -2.8% | -0.7% | ||
| Q2 24 | -1.3% | 1.4% | ||
| Q1 24 | -20.7% | -1.9% |
净利率DOUGEXPI
| Q4 25 | 27.9% | -1.1% | ||
| Q3 25 | -9.4% | 0.3% | ||
| Q2 25 | -8.4% | -0.2% | ||
| Q1 25 | -2.4% | -1.2% | ||
| Q4 24 | -2.5% | -0.9% | ||
| Q3 24 | -10.2% | -0.7% | ||
| Q2 24 | -0.6% | 1.0% | ||
| Q1 24 | -20.7% | -1.7% |
每股收益（稀释后）DOUGEXPI
| Q4 25 | $0.80 | $-0.08 | ||
| Q3 25 | $-0.29 | $0.02 | ||
| Q2 25 | $-0.27 | $-0.01 | ||
| Q1 25 | $-0.07 | $-0.07 | ||
| Q4 24 | $-0.06 | $-0.06 | ||
| Q3 24 | $-0.33 | $-0.06 | ||
| Q2 24 | $-0.02 | $0.08 | ||
| Q1 24 | $-0.50 | $-0.10 |
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 | $115.5M | $124.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $183.9M | $242.8M |
| 总资产 | $444.4M | $442.5M |
| 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DOUGEXPI
| Q4 25 | $115.5M | $124.2M | ||
| Q3 25 | $143.0M | $112.8M | ||
| Q2 25 | $136.3M | $94.6M | ||
| Q1 25 | $136.8M | $115.7M | ||
| Q4 24 | $145.5M | $113.6M | ||
| Q3 24 | $151.4M | $130.4M | ||
| Q2 24 | $92.9M | $108.4M | ||
| Q1 24 | $91.5M | $109.2M |
股东权益DOUGEXPI
| Q4 25 | $183.9M | $242.8M | ||
| Q3 25 | $115.1M | $235.3M | ||
| Q2 25 | $137.6M | $218.4M | ||
| Q1 25 | $158.2M | $212.0M | ||
| Q4 24 | $162.2M | $204.9M | ||
| Q3 24 | $173.6M | $211.1M | ||
| Q2 24 | $196.9M | $220.3M | ||
| Q1 24 | $195.1M | $222.4M |
总资产DOUGEXPI
| Q4 25 | $444.4M | $442.5M | ||
| Q3 25 | $480.6M | $458.7M | ||
| Q2 25 | $489.0M | $481.2M | ||
| Q1 25 | $493.9M | $435.8M | ||
| Q4 24 | $493.9M | $390.7M | ||
| Q3 24 | $502.7M | $432.6M | ||
| Q2 24 | $463.9M | $457.4M | ||
| Q1 24 | $461.1M | $426.7M |
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 | $-14.4M | $13.8M |
| 自由现金流经营现金流 - 资本支出 | $-14.7M | $11.9M |
| 自由现金流率自由现金流/营收 | -6.0% | 1.0% |
| 资本支出强度资本支出/营收 | 0.1% | 0.2% |
| 现金转化率经营现金流/净利润 | -0.21× | — |
| 过去12个月自由现金流最近4个季度 | $-17.2M | $109.0M |
8季度趋势，按日历期对齐
经营现金流DOUGEXPI
| Q4 25 | $-14.4M | $13.8M | ||
| Q3 25 | $5.5M | $28.9M | ||
| Q2 25 | $642.0K | $36.1M | ||
| Q1 25 | $-5.6M | $39.8M | ||
| Q4 24 | $-9.0M | $13.7M | ||
| Q3 24 | $9.0M | $46.0M | ||
| Q2 24 | $1.3M | $71.1M | ||
| Q1 24 | $-27.3M | $60.7M |
自由现金流DOUGEXPI
| Q4 25 | $-14.7M | $11.9M | ||
| Q3 25 | $4.7M | $26.6M | ||
| Q2 25 | $-575.0K | $33.3M | ||
| Q1 25 | $-6.7M | $37.3M | ||
| Q4 24 | $-10.2M | $11.6M | ||
| Q3 24 | $7.7M | $44.4M | ||
| Q2 24 | $432.0K | $69.7M | ||
| Q1 24 | $-29.4M | $59.3M |
自由现金流率DOUGEXPI
| Q4 25 | -6.0% | 1.0% | ||
| Q3 25 | 1.8% | 2.0% | ||
| Q2 25 | -0.2% | 2.5% | ||
| Q1 25 | -2.6% | 3.9% | ||
| Q4 24 | -4.2% | 1.1% | ||
| Q3 24 | 2.9% | 3.6% | ||
| Q2 24 | 0.2% | 5.4% | ||
| Q1 24 | -14.7% | 6.3% |
资本支出强度DOUGEXPI
| Q4 25 | 0.1% | 0.2% | ||
| Q3 25 | 0.3% | 0.2% | ||
| Q2 25 | 0.4% | 0.2% | ||
| Q1 25 | 0.4% | 0.3% | ||
| Q4 24 | 0.5% | 0.2% | ||
| Q3 24 | 0.5% | 0.1% | ||
| Q2 24 | 0.3% | 0.1% | ||
| Q1 24 | 1.0% | 0.1% |
现金转化率DOUGEXPI
| Q4 25 | -0.21× | — | ||
| Q3 25 | — | 8.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 5.75× | ||
| Q1 24 | — | — |
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
DOUG
| Commissions And Other Brokerage Income | $240.3M | 98% |
| Property Management Income | $2.8M | 1% |
| Property Management | $2.2M | 1% |
EXPI
| North American Realty | $1.1B | 96% |
| International Realty | $42.2M | 4% |
