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Expand Energy（EXE）与NVR, Inc.（NVR）财务数据对比。点击上方公司名可切换其他公司
Expand Energy的季度营收约是NVR, Inc.的1.2倍（$3.3B vs $2.7B），Expand Energy净利率更高（16.9% vs 13.4%，领先3.5%），Expand Energy同比增速更快（63.5% vs -4.7%），NVR, Inc.自由现金流更多（$436.0M vs $215.0M），过去两年Expand Energy的营收复合增速更高（29.6% vs 7.8%）
Expand Energy是按净日产量统计的美国最大独立天然气生产商，总部位于俄克拉荷马城，运营范围覆盖宾夕法尼亚州、西弗吉尼亚州境内马塞勒斯地层的阿巴拉契亚盆地，以及路易斯安那州西北部的海恩斯维尔页岩区块。
NVR, Inc.是总部位于美国弗吉尼亚州雷斯顿的知名住宅建造企业，同时运营抵押贷款银行及产权服务相关业务。公司业务主要布局美国东海岸，覆盖14个州及华盛顿特区，2021年有22%的营收来自华盛顿大都会区。
EXE vs NVR — 直观对比
营收规模更大
EXE
是对方的1.2倍
$2.7B
营收增速更快
EXE
高出68.2%
-4.7%
净利率更高
EXE
高出3.5%
13.4%
自由现金流更多
NVR
多$221.0M
$215.0M
两年增速更快
EXE
近两年复合增速
7.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $2.7B |
| 净利润 | $553.0M | $363.8M |
| 毛利率 | — | — |
| 营业利润率 | 22.8% | — |
| 净利率 | 16.9% | 13.4% |
| 营收同比 | 63.5% | -4.7% |
| 净利润同比 | 238.6% | -20.5% |
| 每股收益（稀释后） | $2.33 | $120.85 |
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EXENVR
| Q4 25 | $3.3B | $2.7B | ||
| Q3 25 | $3.0B | $2.6B | ||
| Q2 25 | $3.7B | $2.6B | ||
| Q1 25 | $2.2B | $2.4B | ||
| Q4 24 | $2.0B | $2.8B | ||
| Q3 24 | $648.0M | $2.7B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | $1.1B | $2.3B |
净利润EXENVR
| Q4 25 | $553.0M | $363.8M | ||
| Q3 25 | $547.0M | $342.7M | ||
| Q2 25 | $968.0M | $333.7M | ||
| Q1 25 | $-249.0M | $299.6M | ||
| Q4 24 | $-399.0M | $457.4M | ||
| Q3 24 | $-114.0M | $429.3M | ||
| Q2 24 | — | $400.9M | ||
| Q1 24 | $26.0M | $394.3M |
营业利润率EXENVR
| Q4 25 | 22.8% | — | ||
| Q3 25 | 24.4% | — | ||
| Q2 25 | 34.4% | — | ||
| Q1 25 | -12.2% | — | ||
| Q4 24 | -19.3% | — | ||
| Q3 24 | -23.9% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 3.0% | — |
净利率EXENVR
| Q4 25 | 16.9% | 13.4% | ||
| Q3 25 | 18.4% | 13.1% | ||
| Q2 25 | 26.2% | 12.8% | ||
| Q1 25 | -11.3% | 12.5% | ||
| Q4 24 | -19.9% | 16.1% | ||
| Q3 24 | -17.6% | 15.7% | ||
| Q2 24 | — | 15.3% | ||
| Q1 24 | 2.4% | 16.9% |
每股收益（稀释后）EXENVR
| Q4 25 | $2.33 | $120.85 | ||
| Q3 25 | $2.28 | $112.33 | ||
| Q2 25 | $4.02 | $108.54 | ||
| Q1 25 | $-1.06 | $94.83 | ||
| Q4 24 | $-2.15 | $139.09 | ||
| Q3 24 | $-0.85 | $130.50 | ||
| Q2 24 | — | $120.69 | ||
| Q1 24 | $0.18 | $116.41 |
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 | $616.0M | — |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $18.6B | $3.9B |
| 总资产 | $28.3B | $5.9B |
| 负债/权益比越低杠杆越低 | 0.27× | — |
8季度趋势，按日历期对齐
现金及短期投资EXENVR
| Q4 25 | $616.0M | — | ||
| Q3 25 | $613.0M | — | ||
| Q2 25 | $731.0M | — | ||
| Q1 25 | $349.0M | — | ||
| Q4 24 | $317.0M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $1.2B | — |
总债务EXENVR
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.1B | — | ||
| Q1 25 | $5.2B | — | ||
| Q4 24 | $5.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益EXENVR
| Q4 25 | $18.6B | $3.9B | ||
| Q3 25 | $18.1B | $4.0B | ||
| Q2 25 | $17.9B | $3.8B | ||
| Q1 25 | $17.2B | $4.0B | ||
| Q4 24 | $17.6B | $4.2B | ||
| Q3 24 | $10.2B | $4.3B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | $10.7B | $4.3B |
总资产EXENVR
| Q4 25 | $28.3B | $5.9B | ||
| Q3 25 | $27.6B | $6.0B | ||
| Q2 25 | $27.8B | $5.9B | ||
| Q1 25 | $27.9B | $6.2B | ||
| Q4 24 | $27.9B | $6.4B | ||
| Q3 24 | $13.4B | $6.5B | ||
| Q2 24 | — | $6.4B | ||
| Q1 24 | $14.0B | $6.5B |
负债/权益比EXENVR
| Q4 25 | 0.27× | — | ||
| Q3 25 | 0.28× | — | ||
| Q2 25 | 0.29× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $956.0M | $439.7M |
| 自由现金流经营现金流 - 资本支出 | $215.0M | $436.0M |
| 自由现金流率自由现金流/营收 | 6.6% | 16.1% |
| 资本支出强度资本支出/营收 | 22.6% | 0.1% |
| 现金转化率经营现金流/净利润 | 1.73× | 1.21× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $1.1B |
8季度趋势，按日历期对齐
经营现金流EXENVR
| Q4 25 | $956.0M | $439.7M | ||
| Q3 25 | $1.2B | $438.7M | ||
| Q2 25 | $1.3B | $35.1M | ||
| Q1 25 | $1.1B | $207.8M | ||
| Q4 24 | $382.0M | $637.0M | ||
| Q3 24 | $422.0M | $358.3M | ||
| Q2 24 | — | $232.7M | ||
| Q1 24 | $552.0M | $146.5M |
自由现金流EXENVR
| Q4 25 | $215.0M | $436.0M | ||
| Q3 25 | $426.0M | $433.3M | ||
| Q2 25 | $665.0M | $26.8M | ||
| Q1 25 | $533.0M | $200.7M | ||
| Q4 24 | $-154.0M | $631.5M | ||
| Q3 24 | $124.0M | $350.1M | ||
| Q2 24 | — | $226.3M | ||
| Q1 24 | $131.0M | $137.5M |
自由现金流率EXENVR
| Q4 25 | 6.6% | 16.1% | ||
| Q3 25 | 14.4% | 16.6% | ||
| Q2 25 | 18.0% | 1.0% | ||
| Q1 25 | 24.3% | 8.4% | ||
| Q4 24 | -7.7% | 22.2% | ||
| Q3 24 | 19.1% | 12.8% | ||
| Q2 24 | — | 8.7% | ||
| Q1 24 | 12.1% | 5.9% |
资本支出强度EXENVR
| Q4 25 | 22.6% | 0.1% | ||
| Q3 25 | 26.1% | 0.2% | ||
| Q2 25 | 17.8% | 0.3% | ||
| Q1 25 | 25.6% | 0.3% | ||
| Q4 24 | 26.8% | 0.2% | ||
| Q3 24 | 46.0% | 0.3% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | 38.9% | 0.4% |
现金转化率EXENVR
| Q4 25 | 1.73× | 1.21× | ||
| Q3 25 | 2.20× | 1.28× | ||
| Q2 25 | 1.37× | 0.11× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 1.39× | ||
| Q3 24 | — | 0.83× | ||
| Q2 24 | — | 0.58× | ||
| Q1 24 | 21.23× | 0.37× |
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
EXE
| Oil And Gas | $2.3B | 70% |
| Natural Gas Marketing Sales | $734.0M | 22% |
| Natural Gas Liquids Sales | $174.0M | 5% |
| Natural Gas Liquids Marketing Sales | $34.0M | 1% |
| Oil Marketing Sales | $31.0M | 1% |
NVR
| Home Building Segment | $2.6B | 97% |
| Mortgage Banking Segment | $77.4M | 3% |
