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eXp World Holdings, Inc.（EXPI）与Freedom Holding Corp.（FRHC）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Freedom Holding Corp.的1.9倍（$1.2B vs $628.6M），Freedom Holding Corp.净利率更高（12.1% vs -1.1%，领先13.2%），eXp World Holdings, Inc.同比增速更快（8.5% vs -4.1%），Freedom Holding Corp.自由现金流更多（$651.7M vs $11.9M），过去两年Freedom Holding Corp.的营收复合增速更高（16.3% vs 12.4%）
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。
Freedom Holding Corp.是在美国内华达州注册的投资集团，业务覆盖零售证券经纪交易、资产管理、资本市场服务、投研咨询、投行承销、抵押贷款、保险、银行及其他消费金融服务，核心布局美股、欧洲及以哈萨克斯坦为核心的中亚市场。
EXPI vs FRHC — 直观对比
营收规模更大
EXPI
是对方的1.9倍
$628.6M
营收增速更快
EXPI
高出12.6%
-4.1%
净利率更高
FRHC
高出13.2%
-1.1%
自由现金流更多
FRHC
多$639.8M
$11.9M
两年增速更快
FRHC
近两年复合增速
12.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $628.6M |
| 净利润 | $-12.9M | $76.2M |
| 毛利率 | — | 96.0% |
| 营业利润率 | -1.1% | 14.9% |
| 净利率 | -1.1% | 12.1% |
| 营收同比 | 8.5% | -4.1% |
| 净利润同比 | -35.7% | -2.6% |
| 每股收益（稀释后） | $-0.08 | $1.25 |
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EXPIFRHC
| Q4 25 | $1.2B | $628.6M | ||
| Q3 25 | $1.3B | $526.1M | ||
| Q2 25 | $1.3B | $533.4M | ||
| Q1 25 | $954.9M | $363.7M | ||
| Q4 24 | $1.1B | $655.2M | ||
| Q3 24 | $1.2B | $580.9M | ||
| Q2 24 | $1.3B | $450.7M | ||
| Q1 24 | $943.1M | $464.7M |
净利润EXPIFRHC
| Q4 25 | $-12.9M | $76.2M | ||
| Q3 25 | $3.5M | $38.7M | ||
| Q2 25 | $-2.3M | $30.4M | ||
| Q1 25 | $-11.0M | $-142.7M | ||
| Q4 24 | $-9.5M | $78.3M | ||
| Q3 24 | $-8.5M | $114.7M | ||
| Q2 24 | $12.4M | $34.4M | ||
| Q1 24 | $-15.6M | $95.2M |
毛利率EXPIFRHC
| Q4 25 | — | 96.0% | ||
| Q3 25 | — | 97.1% | ||
| Q2 25 | — | 97.4% | ||
| Q1 25 | — | 96.6% | ||
| Q4 24 | — | 98.6% | ||
| Q3 24 | 99.9% | 99.1% | ||
| Q2 24 | 99.9% | 99.0% | ||
| Q1 24 | — | — |
营业利润率EXPIFRHC
| Q4 25 | -1.1% | 14.9% | ||
| Q3 25 | 0.3% | 11.5% | ||
| Q2 25 | -0.2% | 7.6% | ||
| Q1 25 | -1.1% | -42.7% | ||
| Q4 24 | -1.0% | 15.0% | ||
| Q3 24 | -0.7% | 22.1% | ||
| Q2 24 | 1.4% | 9.2% | ||
| Q1 24 | -1.9% | 22.5% |
净利率EXPIFRHC
| Q4 25 | -1.1% | 12.1% | ||
| Q3 25 | 0.3% | 7.4% | ||
| Q2 25 | -0.2% | 5.7% | ||
| Q1 25 | -1.2% | -39.2% | ||
| Q4 24 | -0.9% | 11.9% | ||
| Q3 24 | -0.7% | 19.7% | ||
| Q2 24 | 1.0% | 7.6% | ||
| Q1 24 | -1.7% | 20.5% |
每股收益（稀释后）EXPIFRHC
| Q4 25 | $-0.08 | $1.25 | ||
| Q3 25 | $0.02 | $0.63 | ||
| Q2 25 | $-0.01 | $0.50 | ||
| Q1 25 | $-0.07 | $-2.35 | ||
| Q4 24 | $-0.06 | $1.29 | ||
| Q3 24 | $-0.06 | $1.89 | ||
| Q2 24 | $0.08 | $0.57 | ||
| Q1 24 | $-0.10 | $1.60 |
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 | $124.2M | $869.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | $1.4B |
| 总资产 | $442.5M | $12.4B |
| 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EXPIFRHC
| Q4 25 | $124.2M | $869.2M | ||
| Q3 25 | $112.8M | $636.0M | ||
| Q2 25 | $94.6M | $567.9M | ||
| Q1 25 | $115.7M | $837.3M | ||
| Q4 24 | $113.6M | $577.9M | ||
| Q3 24 | $130.4M | $569.2M | ||
| Q2 24 | $108.4M | $718.7M | ||
| Q1 24 | $109.2M | $545.1M |
股东权益EXPIFRHC
| Q4 25 | $242.8M | $1.4B | ||
| Q3 25 | $235.3M | $1.2B | ||
| Q2 25 | $218.4M | $1.2B | ||
| Q1 25 | $212.0M | $1.2B | ||
| Q4 24 | $204.9M | $1.3B | ||
| Q3 24 | $211.1M | $1.3B | ||
| Q2 24 | $220.3M | $1.1B | ||
| Q1 24 | $222.4M | $1.2B |
总资产EXPIFRHC
| Q4 25 | $442.5M | $12.4B | ||
| Q3 25 | $458.7M | $10.3B | ||
| Q2 25 | $481.2M | $9.7B | ||
| Q1 25 | $435.8M | $9.9B | ||
| Q4 24 | $390.7M | $9.1B | ||
| Q3 24 | $432.6M | $8.8B | ||
| Q2 24 | $457.4M | $8.5B | ||
| Q1 24 | $426.7M | $8.3B |
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 | $13.8M | $717.8M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $651.7M |
| 自由现金流率自由现金流/营收 | 1.0% | 103.7% |
| 资本支出强度资本支出/营收 | 0.2% | 10.5% |
| 现金转化率经营现金流/净利润 | — | 9.42× |
| 过去12个月自由现金流最近4个季度 | $109.0M | — |
8季度趋势，按日历期对齐
经营现金流EXPIFRHC
| Q4 25 | $13.8M | $717.8M | ||
| Q3 25 | $28.9M | $535.3M | ||
| Q2 25 | $36.1M | $480.8M | ||
| Q1 25 | $39.8M | $1.3B | ||
| Q4 24 | $13.7M | $-72.8M | ||
| Q3 24 | $46.0M | $-438.0M | ||
| Q2 24 | $71.1M | $854.1M | ||
| Q1 24 | $60.7M | $309.0M |
自由现金流EXPIFRHC
| Q4 25 | $11.9M | $651.7M | ||
| Q3 25 | $26.6M | $456.4M | ||
| Q2 25 | $33.3M | $450.0M | ||
| Q1 25 | $37.3M | — | ||
| Q4 24 | $11.6M | $-92.7M | ||
| Q3 24 | $44.4M | $-447.5M | ||
| Q2 24 | $69.7M | $829.9M | ||
| Q1 24 | $59.3M | — |
自由现金流率EXPIFRHC
| Q4 25 | 1.0% | 103.7% | ||
| Q3 25 | 2.0% | 86.7% | ||
| Q2 25 | 2.5% | 84.4% | ||
| Q1 25 | 3.9% | — | ||
| Q4 24 | 1.1% | -14.1% | ||
| Q3 24 | 3.6% | -77.0% | ||
| Q2 24 | 5.4% | 184.1% | ||
| Q1 24 | 6.3% | — |
资本支出强度EXPIFRHC
| Q4 25 | 0.2% | 10.5% | ||
| Q3 25 | 0.2% | 15.0% | ||
| Q2 25 | 0.2% | 5.8% | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.2% | 3.0% | ||
| Q3 24 | 0.1% | 1.6% | ||
| Q2 24 | 0.1% | 5.4% | ||
| Q1 24 | 0.1% | — |
现金转化率EXPIFRHC
| Q4 25 | — | 9.42× | ||
| Q3 25 | 8.26× | 13.82× | ||
| Q2 25 | — | 15.82× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -0.93× | ||
| Q3 24 | — | -3.82× | ||
| Q2 24 | 5.75× | 24.83× | ||
| Q1 24 | — | 3.24× |
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
EXPI
| North American Realty | $1.1B | 96% |
| International Realty | $42.2M | 4% |
FRHC
暂无分部数据
