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eXp World Holdings, Inc.（EXPI）与GLOBAL PARTNERS LP（GLP）财务数据对比。点击上方公司名可切换其他公司
GLOBAL PARTNERS LP的季度营收约是eXp World Holdings, Inc.的1.9倍（$2.2B vs $1.2B），GLOBAL PARTNERS LP净利率更高（1.1% vs -1.1%，领先2.2%），eXp World Holdings, Inc.同比增速更快（8.5% vs 7.0%），GLOBAL PARTNERS LP自由现金流更多（$62.2M vs $11.9M），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs 0.2%）
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。
Global Partners LP是一家美国能源供应企业，2018年位列《财富》世界500强第361位，采用业主有限合伙制架构，核心业务为石油产品进口，深耕北美市场开展营销活动，批发的产品涵盖原油、柴油、汽油、取暖油及煤油等品类。
EXPI vs GLP — 直观对比
营收规模更大
GLP
是对方的1.9倍
$1.2B
营收增速更快
EXPI
高出1.5%
7.0%
净利率更高
GLP
高出2.2%
-1.1%
自由现金流更多
GLP
多$50.3M
$11.9M
两年增速更快
EXPI
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.2B |
| 净利润 | $-12.9M | $25.1M |
| 毛利率 | — | 11.9% |
| 营业利润率 | -1.1% | 2.6% |
| 净利率 | -1.1% | 1.1% |
| 营收同比 | 8.5% | 7.0% |
| 净利润同比 | -35.7% | 5.0% |
| 每股收益（稀释后） | $-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EXPIGLP
| Q4 25 | $1.2B | $2.2B | ||
| Q3 25 | $1.3B | $2.2B | ||
| Q2 25 | $1.3B | $2.1B | ||
| Q1 25 | $954.9M | $2.2B | ||
| Q4 24 | $1.1B | $2.1B | ||
| Q3 24 | $1.2B | $2.1B | ||
| Q2 24 | $1.3B | $2.3B | ||
| Q1 24 | $943.1M | $2.2B |
净利润EXPIGLP
| Q4 25 | $-12.9M | $25.1M | ||
| Q3 25 | $3.5M | $29.0M | ||
| Q2 25 | $-2.3M | $25.2M | ||
| Q1 25 | $-11.0M | $18.7M | ||
| Q4 24 | $-9.5M | $23.9M | ||
| Q3 24 | $-8.5M | $45.9M | ||
| Q2 24 | $12.4M | $46.1M | ||
| Q1 24 | $-15.6M | $-5.6M |
毛利率EXPIGLP
| Q4 25 | — | 11.9% | ||
| Q3 25 | — | 12.1% | ||
| Q2 25 | — | 13.1% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | — | 13.0% | ||
| Q3 24 | 99.9% | 13.4% | ||
| Q2 24 | 99.9% | 12.6% | ||
| Q1 24 | — | 9.8% |
营业利润率EXPIGLP
| Q4 25 | -1.1% | 2.6% | ||
| Q3 25 | 0.3% | 2.7% | ||
| Q2 25 | -0.2% | 2.9% | ||
| Q1 25 | -1.1% | 2.6% | ||
| Q4 24 | -1.0% | 2.8% | ||
| Q3 24 | -0.7% | 3.9% | ||
| Q2 24 | 1.4% | 3.7% | ||
| Q1 24 | -1.9% | 1.2% |
净利率EXPIGLP
| Q4 25 | -1.1% | 1.1% | ||
| Q3 25 | 0.3% | 1.3% | ||
| Q2 25 | -0.2% | 1.2% | ||
| Q1 25 | -1.2% | 0.9% | ||
| Q4 24 | -0.9% | 1.2% | ||
| Q3 24 | -0.7% | 2.1% | ||
| Q2 24 | 1.0% | 2.0% | ||
| Q1 24 | -1.7% | -0.3% |
每股收益（稀释后）EXPIGLP
| Q4 25 | $-0.08 | — | ||
| Q3 25 | $0.02 | — | ||
| Q2 25 | $-0.01 | — | ||
| Q1 25 | $-0.07 | — | ||
| Q4 24 | $-0.06 | — | ||
| Q3 24 | $-0.06 | — | ||
| Q2 24 | $0.08 | — | ||
| Q1 24 | $-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 | $124.2M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | — |
| 总资产 | $442.5M | $3.9B |
| 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EXPIGLP
| Q4 25 | $124.2M | — | ||
| Q3 25 | $112.8M | — | ||
| Q2 25 | $94.6M | — | ||
| Q1 25 | $115.7M | — | ||
| Q4 24 | $113.6M | — | ||
| Q3 24 | $130.4M | — | ||
| Q2 24 | $108.4M | — | ||
| Q1 24 | $109.2M | — |
股东权益EXPIGLP
| Q4 25 | $242.8M | — | ||
| Q3 25 | $235.3M | — | ||
| Q2 25 | $218.4M | — | ||
| Q1 25 | $212.0M | — | ||
| Q4 24 | $204.9M | — | ||
| Q3 24 | $211.1M | — | ||
| Q2 24 | $220.3M | — | ||
| Q1 24 | $222.4M | — |
总资产EXPIGLP
| Q4 25 | $442.5M | $3.9B | ||
| Q3 25 | $458.7M | $3.7B | ||
| Q2 25 | $481.2M | $3.8B | ||
| Q1 25 | $435.8M | $3.8B | ||
| Q4 24 | $390.7M | $3.8B | ||
| Q3 24 | $432.6M | $3.7B | ||
| Q2 24 | $457.4M | $3.8B | ||
| Q1 24 | $426.7M | $3.5B |
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 | $101.0M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $62.2M |
| 自由现金流率自由现金流/营收 | 1.0% | 2.8% |
| 资本支出强度资本支出/营收 | 0.2% | 1.8% |
| 现金转化率经营现金流/净利润 | — | 4.03× |
| 过去12个月自由现金流最近4个季度 | $109.0M | $193.3M |
8季度趋势，按日历期对齐
经营现金流EXPIGLP
| Q4 25 | $13.8M | $101.0M | ||
| Q3 25 | $28.9M | $19.0M | ||
| Q2 25 | $36.1M | $216.3M | ||
| Q1 25 | $39.8M | $-51.6M | ||
| Q4 24 | $13.7M | $67.2M | ||
| Q3 24 | $46.0M | $122.7M | ||
| Q2 24 | $71.1M | $24.3M | ||
| Q1 24 | $60.7M | $-182.7M |
自由现金流EXPIGLP
| Q4 25 | $11.9M | $62.2M | ||
| Q3 25 | $26.6M | $-678.0K | ||
| Q2 25 | $33.3M | $201.3M | ||
| Q1 25 | $37.3M | $-69.5M | ||
| Q4 24 | $11.6M | $20.4M | ||
| Q3 24 | $44.4M | $98.4M | ||
| Q2 24 | $69.7M | $8.7M | ||
| Q1 24 | $59.3M | $-199.3M |
自由现金流率EXPIGLP
| Q4 25 | 1.0% | 2.8% | ||
| Q3 25 | 2.0% | -0.0% | ||
| Q2 25 | 2.5% | 9.7% | ||
| Q1 25 | 3.9% | -3.2% | ||
| Q4 24 | 1.1% | 1.0% | ||
| Q3 24 | 3.6% | 4.6% | ||
| Q2 24 | 5.4% | 0.4% | ||
| Q1 24 | 6.3% | -9.0% |
资本支出强度EXPIGLP
| Q4 25 | 0.2% | 1.8% | ||
| Q3 25 | 0.2% | 0.9% | ||
| Q2 25 | 0.2% | 0.7% | ||
| Q1 25 | 0.3% | 0.8% | ||
| Q4 24 | 0.2% | 2.3% | ||
| Q3 24 | 0.1% | 1.1% | ||
| Q2 24 | 0.1% | 0.7% | ||
| Q1 24 | 0.1% | 0.8% |
现金转化率EXPIGLP
| Q4 25 | — | 4.03× | ||
| Q3 25 | 8.26× | 0.66× | ||
| Q2 25 | — | 8.58× | ||
| Q1 25 | — | -2.76× | ||
| Q4 24 | — | 2.82× | ||
| Q3 24 | — | 2.67× | ||
| Q2 24 | 5.75× | 0.53× | ||
| 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
EXPI
| North American Realty | $1.1B | 96% |
| International Realty | $42.2M | 4% |
GLP
| Gasoline | $1.0B | 46% |
| Refined Petroleum Products Renewable Fuels Crude Oil And Propane | $884.7M | 40% |
| Commercial Segment | $187.6M | 8% |
| Station Operations | $110.5M | 5% |
