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礼蓝动物保健（ELAN）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.的季度营收约是礼蓝动物保健的1.0倍（$1.2B vs $1.1B），eXp World Holdings, Inc.净利率更高（-1.1% vs -24.1%，领先23.0%），礼蓝动物保健同比增速更快（12.2% vs 8.5%），礼蓝动物保健自由现金流更多（$46.0M vs $11.9M），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs -2.6%）
礼蓝动物保健是一家美国动物保健制药企业，专注于生产宠物及家畜用药品与疫苗。该公司原为礼来公司旗下子公司，2019年完成分拆独立，目前是全球第三大动物保健企业。
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。
ELAN vs EXPI — 直观对比
营收规模更大
EXPI
是对方的1.0倍
$1.1B
营收增速更快
ELAN
高出3.6%
8.5%
净利率更高
EXPI
高出23.0%
-24.1%
自由现金流更多
ELAN
多$34.1M
$11.9M
两年增速更快
EXPI
近两年复合增速
-2.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $-276.0M | $-12.9M |
| 毛利率 | 51.5% | — |
| 营业利润率 | -22.6% | -1.1% |
| 净利率 | -24.1% | -1.1% |
| 营收同比 | 12.2% | 8.5% |
| 净利润同比 | -3350.0% | -35.7% |
| 每股收益（稀释后） | $-0.55 | $-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ELANEXPI
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.2B | $954.9M | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $1.0B | $1.2B | ||
| Q2 24 | $1.2B | $1.3B | ||
| Q1 24 | $1.2B | $943.1M |
净利润ELANEXPI
| Q4 25 | $-276.0M | $-12.9M | ||
| Q3 25 | $-34.0M | $3.5M | ||
| Q2 25 | $11.0M | $-2.3M | ||
| Q1 25 | $67.0M | $-11.0M | ||
| Q4 24 | $-8.0M | $-9.5M | ||
| Q3 24 | $364.0M | $-8.5M | ||
| Q2 24 | $-50.0M | $12.4M | ||
| Q1 24 | $32.0M | $-15.6M |
毛利率ELANEXPI
| Q4 25 | 51.5% | — | ||
| Q3 25 | 53.4% | — | ||
| Q2 25 | 57.5% | — | ||
| Q1 25 | 57.3% | — | ||
| Q4 24 | 50.9% | — | ||
| Q3 24 | 52.2% | 99.9% | ||
| Q2 24 | 58.2% | 99.9% | ||
| Q1 24 | 57.3% | — |
营业利润率ELANEXPI
| Q4 25 | -22.6% | -1.1% | ||
| Q3 25 | -4.4% | 0.3% | ||
| Q2 25 | 2.0% | -0.2% | ||
| Q1 25 | 5.0% | -1.1% | ||
| Q4 24 | -5.0% | -1.0% | ||
| Q3 24 | 54.3% | -0.7% | ||
| Q2 24 | -2.7% | 1.4% | ||
| Q1 24 | 1.0% | -1.9% |
净利率ELANEXPI
| Q4 25 | -24.1% | -1.1% | ||
| Q3 25 | -3.0% | 0.3% | ||
| Q2 25 | 0.9% | -0.2% | ||
| Q1 25 | 5.6% | -1.2% | ||
| Q4 24 | -0.8% | -0.9% | ||
| Q3 24 | 35.3% | -0.7% | ||
| Q2 24 | -4.2% | 1.0% | ||
| Q1 24 | 2.7% | -1.7% |
每股收益（稀释后）ELANEXPI
| Q4 25 | $-0.55 | $-0.08 | ||
| Q3 25 | $-0.07 | $0.02 | ||
| Q2 25 | $0.02 | $-0.01 | ||
| Q1 25 | $0.13 | $-0.07 | ||
| Q4 24 | $-0.01 | $-0.06 | ||
| Q3 24 | $0.73 | $-0.06 | ||
| Q2 24 | $-0.10 | $0.08 | ||
| Q1 24 | $0.06 | $-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 | $545.0M | $124.2M |
| 总债务越低越好 | $3.9B | — |
| 股东权益账面价值 | $6.5B | $242.8M |
| 总资产 | $13.4B | $442.5M |
| 负债/权益比越低杠杆越低 | 0.60× | — |
8季度趋势，按日历期对齐
现金及短期投资ELANEXPI
| Q4 25 | $545.0M | $124.2M | ||
| Q3 25 | $505.0M | $112.8M | ||
| Q2 25 | $539.0M | $94.6M | ||
| Q1 25 | $487.0M | $115.7M | ||
| Q4 24 | $468.0M | $113.6M | ||
| Q3 24 | $490.0M | $130.4M | ||
| Q2 24 | $416.0M | $108.4M | ||
| Q1 24 | $345.0M | $109.2M |
总债务ELANEXPI
| Q4 25 | $3.9B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.4B | — | ||
| Q2 24 | $5.7B | — | ||
| Q1 24 | $5.8B | — |
股东权益ELANEXPI
| Q4 25 | $6.5B | $242.8M | ||
| Q3 25 | $6.7B | $235.3M | ||
| Q2 25 | $6.8B | $218.4M | ||
| Q1 25 | $6.4B | $212.0M | ||
| Q4 24 | $6.1B | $204.9M | ||
| Q3 24 | $6.5B | $211.1M | ||
| Q2 24 | $5.9B | $220.3M | ||
| Q1 24 | $6.1B | $222.4M |
总资产ELANEXPI
| Q4 25 | $13.4B | $442.5M | ||
| Q3 25 | $13.6B | $458.7M | ||
| Q2 25 | $13.7B | $481.2M | ||
| Q1 25 | $12.9B | $435.8M | ||
| Q4 24 | $12.6B | $390.7M | ||
| Q3 24 | $13.3B | $432.6M | ||
| Q2 24 | $13.8B | $457.4M | ||
| Q1 24 | $14.0B | $426.7M |
负债/权益比ELANEXPI
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 0.95× | — |
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 | $108.0M | $13.8M |
| 自由现金流经营现金流 - 资本支出 | $46.0M | $11.9M |
| 自由现金流率自由现金流/营收 | 4.0% | 1.0% |
| 资本支出强度资本支出/营收 | 5.4% | 0.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $284.0M | $109.0M |
8季度趋势，按日历期对齐
经营现金流ELANEXPI
| Q4 25 | $108.0M | $13.8M | ||
| Q3 25 | $219.0M | $28.9M | ||
| Q2 25 | $237.0M | $36.1M | ||
| Q1 25 | $-4.0M | $39.8M | ||
| Q4 24 | $177.0M | $13.7M | ||
| Q3 24 | $162.0M | $46.0M | ||
| Q2 24 | $200.0M | $71.1M | ||
| Q1 24 | $2.0M | $60.7M |
自由现金流ELANEXPI
| Q4 25 | $46.0M | $11.9M | ||
| Q3 25 | $127.0M | $26.6M | ||
| Q2 25 | $180.0M | $33.3M | ||
| Q1 25 | $-69.0M | $37.3M | ||
| Q4 24 | $130.0M | $11.6M | ||
| Q3 24 | $120.0M | $44.4M | ||
| Q2 24 | $166.0M | $69.7M | ||
| Q1 24 | $-22.0M | $59.3M |
自由现金流率ELANEXPI
| Q4 25 | 4.0% | 1.0% | ||
| Q3 25 | 11.2% | 2.0% | ||
| Q2 25 | 14.5% | 2.5% | ||
| Q1 25 | -5.8% | 3.9% | ||
| Q4 24 | 12.7% | 1.1% | ||
| Q3 24 | 11.7% | 3.6% | ||
| Q2 24 | 14.0% | 5.4% | ||
| Q1 24 | -1.8% | 6.3% |
资本支出强度ELANEXPI
| Q4 25 | 5.4% | 0.2% | ||
| Q3 25 | 8.1% | 0.2% | ||
| Q2 25 | 4.6% | 0.2% | ||
| Q1 25 | 5.4% | 0.3% | ||
| Q4 24 | 4.6% | 0.2% | ||
| Q3 24 | 4.1% | 0.1% | ||
| Q2 24 | 2.9% | 0.1% | ||
| Q1 24 | 2.0% | 0.1% |
现金转化率ELANEXPI
| Q4 25 | — | — | ||
| Q3 25 | — | 8.26× | ||
| Q2 25 | 21.55× | — | ||
| Q1 25 | -0.06× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.45× | — | ||
| Q2 24 | — | 5.75× | ||
| Q1 24 | 0.06× | — |
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
ELAN
| Pet Health | $489.0M | 43% |
| Cattle | $296.0M | 26% |
| Poultry | $237.0M | 21% |
| Swine | $107.0M | 9% |
| Contract Manufacturing | $15.0M | 1% |
EXPI
| North American Realty | $1.1B | 96% |
| International Realty | $42.2M | 4% |
