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eXp World Holdings, Inc.（EXPI）与格罗方德（GFS）财务数据对比。点击上方公司名可切换其他公司
格罗方德的季度营收约是eXp World Holdings, Inc.的1.4倍（$1.7B vs $1.2B），格罗方德净利率更高（14.8% vs -1.1%，领先15.8%），eXp World Holdings, Inc.同比增速更快（8.5% vs -2.9%），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs -4.3%）
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。
格罗方德是跨国半导体代工及设计企业，注册地为开曼群岛，总部位于美国纽约州马耳他。公司2009年3月由AMD制造业务分拆成立，2021年10月完成首次公开募股，阿联酋主权财富基金穆巴达拉投资公司目前仍持有其82%的多数股权。
EXPI vs GFS — 直观对比
营收规模更大
GFS
是对方的1.4倍
$1.2B
营收增速更快
EXPI
高出11.5%
-2.9%
净利率更高
GFS
高出15.8%
-1.1%
两年增速更快
EXPI
近两年复合增速
-4.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.7B |
| 净利润 | $-12.9M | $249.0M |
| 毛利率 | — | 24.8% |
| 营业利润率 | -1.1% | 11.6% |
| 净利率 | -1.1% | 14.8% |
| 营收同比 | 8.5% | -2.9% |
| 净利润同比 | -35.7% | 39.9% |
| 每股收益（稀释后） | $-0.08 | $0.44 |
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EXPIGFS
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $1.3B | $1.7B | ||
| Q1 25 | $954.9M | $1.6B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.2B | $1.7B | ||
| Q2 24 | $1.3B | $1.6B | ||
| Q1 24 | $943.1M | $1.5B |
净利润EXPIGFS
| Q4 25 | $-12.9M | — | ||
| Q3 25 | $3.5M | $249.0M | ||
| Q2 25 | $-2.3M | $228.0M | ||
| Q1 25 | $-11.0M | $211.0M | ||
| Q4 24 | $-9.5M | — | ||
| Q3 24 | $-8.5M | $178.0M | ||
| Q2 24 | $12.4M | $155.0M | ||
| Q1 24 | $-15.6M | $134.0M |
毛利率EXPIGFS
| Q4 25 | — | — | ||
| Q3 25 | — | 24.8% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | — | 22.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | 99.9% | 23.8% | ||
| Q2 24 | 99.9% | 24.2% | ||
| Q1 24 | — | 25.4% |
营业利润率EXPIGFS
| Q4 25 | -1.1% | — | ||
| Q3 25 | 0.3% | 11.6% | ||
| Q2 25 | -0.2% | 11.6% | ||
| Q1 25 | -1.1% | 9.5% | ||
| Q4 24 | -1.0% | — | ||
| Q3 24 | -0.7% | 10.6% | ||
| Q2 24 | 1.4% | 9.5% | ||
| Q1 24 | -1.9% | 9.5% |
净利率EXPIGFS
| Q4 25 | -1.1% | — | ||
| Q3 25 | 0.3% | 14.8% | ||
| Q2 25 | -0.2% | 13.5% | ||
| Q1 25 | -1.2% | 13.3% | ||
| Q4 24 | -0.9% | — | ||
| Q3 24 | -0.7% | 10.2% | ||
| Q2 24 | 1.0% | 9.5% | ||
| Q1 24 | -1.7% | 8.7% |
每股收益（稀释后）EXPIGFS
| Q4 25 | $-0.08 | — | ||
| Q3 25 | $0.02 | $0.44 | ||
| Q2 25 | $-0.01 | $0.41 | ||
| Q1 25 | $-0.07 | $0.38 | ||
| Q4 24 | $-0.06 | — | ||
| Q3 24 | $-0.06 | $0.32 | ||
| Q2 24 | $0.08 | $0.28 | ||
| Q1 24 | $-0.10 | $0.24 |
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 | $2.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | $11.8B |
| 总资产 | $442.5M | $16.7B |
| 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EXPIGFS
| Q4 25 | $124.2M | — | ||
| Q3 25 | $112.8M | $2.0B | ||
| Q2 25 | $94.6M | $1.8B | ||
| Q1 25 | $115.7M | $1.6B | ||
| Q4 24 | $113.6M | — | ||
| Q3 24 | $130.4M | $2.3B | ||
| Q2 24 | $108.4M | $2.2B | ||
| Q1 24 | $109.2M | $2.2B |
股东权益EXPIGFS
| Q4 25 | $242.8M | — | ||
| Q3 25 | $235.3M | $11.8B | ||
| Q2 25 | $218.4M | $11.5B | ||
| Q1 25 | $212.0M | $11.1B | ||
| Q4 24 | $204.9M | — | ||
| Q3 24 | $211.1M | $11.6B | ||
| Q2 24 | $220.3M | $11.3B | ||
| Q1 24 | $222.4M | $11.3B |
总资产EXPIGFS
| Q4 25 | $442.5M | — | ||
| Q3 25 | $458.7M | $16.7B | ||
| Q2 25 | $481.2M | $16.8B | ||
| Q1 25 | $435.8M | $16.5B | ||
| Q4 24 | $390.7M | — | ||
| Q3 24 | $432.6M | $18.1B | ||
| Q2 24 | $457.4M | — | ||
| Q1 24 | $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 | $13.8M | $595.0M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | — |
| 自由现金流率自由现金流/营收 | 1.0% | — |
| 资本支出强度资本支出/营收 | 0.2% | — |
| 现金转化率经营现金流/净利润 | — | 2.39× |
| 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EXPIGFS
| Q4 25 | $13.8M | — | ||
| Q3 25 | $28.9M | $595.0M | ||
| Q2 25 | $36.1M | $431.0M | ||
| Q1 25 | $39.8M | $331.0M | ||
| Q4 24 | $13.7M | — | ||
| Q3 24 | $46.0M | $375.0M | ||
| Q2 24 | $71.1M | $402.0M | ||
| Q1 24 | $60.7M | $488.0M |
自由现金流EXPIGFS
| Q4 25 | $11.9M | — | ||
| Q3 25 | $26.6M | — | ||
| Q2 25 | $33.3M | — | ||
| Q1 25 | $37.3M | — | ||
| Q4 24 | $11.6M | — | ||
| Q3 24 | $44.4M | — | ||
| Q2 24 | $69.7M | — | ||
| Q1 24 | $59.3M | — |
自由现金流率EXPIGFS
| Q4 25 | 1.0% | — | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 3.9% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 5.4% | — | ||
| Q1 24 | 6.3% | — |
资本支出强度EXPIGFS
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.1% | — |
现金转化率EXPIGFS
| Q4 25 | — | — | ||
| Q3 25 | 8.26× | 2.39× | ||
| Q2 25 | — | 1.89× | ||
| Q1 25 | — | 1.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | 5.75× | 2.59× | ||
| Q1 24 | — | 3.64× |
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% |
GFS
| Smart Mobile Devices | $752.0M | 45% |
| Automotive | $306.0M | 18% |
| Home And Industrial Io T | $258.0M | 15% |
| Goods Or Services Transferred Over Time | $198.0M | 12% |
| Communications Infrastructure Datacenter | $175.0M | 10% |
