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eXp World Holdings, Inc.（EXPI）与仲量联行（JLL）财务数据对比。点击上方公司名可切换其他公司
仲量联行的季度营收约是eXp World Holdings, Inc.的6.4倍（$7.6B vs $1.2B）。仲量联行净利率更高（5.3% vs -1.1%，领先6.4%）。仲量联行同比增速更快（11.7% vs 8.5%）。过去两年仲量联行的营收复合增速更高（21.9% 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。
仲量联行（JLL）是总部位于美国芝加哥的全球知名房地产服务企业，位列《财富》世界500强第188位，在80个国家设有办事处，面向机构投资者、散户投资者及高净值人群提供全球投资管理服务，同时通过JLL Technologies推出科技产品，旗下PropTech基金JLL Spark主营地产科技领域风险投资。
EXPI vs JLL — 直观对比
营收规模更大
JLL
是对方的6.4倍
$1.2B
营收增速更快
JLL
高出3.2%
8.5%
净利率更高
JLL
高出6.4%
-1.1%
两年增速更快
JLL
近两年复合增速
12.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $7.6B |
| 净利润 | $-12.9M | $401.8M |
| 毛利率 | — | — |
| 营业利润率 | -1.1% | 6.7% |
| 净利率 | -1.1% | 5.3% |
| 营收同比 | 8.5% | 11.7% |
| 净利润同比 | -35.7% | 66.6% |
| 每股收益（稀释后） | $-0.08 | $8.33 |
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EXPIJLL
| Q4 25 | $1.2B | $7.6B | ||
| Q3 25 | $1.3B | $6.5B | ||
| Q2 25 | $1.3B | $6.3B | ||
| Q1 25 | $954.9M | $5.7B | ||
| Q4 24 | $1.1B | $6.8B | ||
| Q3 24 | $1.2B | $5.9B | ||
| Q2 24 | $1.3B | $5.6B | ||
| Q1 24 | $943.1M | $5.1B |
净利润EXPIJLL
| Q4 25 | $-12.9M | $401.8M | ||
| Q3 25 | $3.5M | $222.4M | ||
| Q2 25 | $-2.3M | $110.5M | ||
| Q1 25 | $-11.0M | $57.5M | ||
| Q4 24 | $-9.5M | $241.2M | ||
| Q3 24 | $-8.5M | $155.1M | ||
| Q2 24 | $12.4M | $84.4M | ||
| Q1 24 | $-15.6M | $66.1M |
毛利率EXPIJLL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 99.9% | — | ||
| Q2 24 | 99.9% | — | ||
| Q1 24 | — | — |
营业利润率EXPIJLL
| Q4 25 | -1.1% | 6.7% | ||
| Q3 25 | 0.3% | 4.2% | ||
| Q2 25 | -0.2% | 3.2% | ||
| Q1 25 | -1.1% | 2.1% | ||
| Q4 24 | -1.0% | 5.5% | ||
| Q3 24 | -0.7% | 3.9% | ||
| Q2 24 | 1.4% | 2.7% | ||
| Q1 24 | -1.9% | 2.2% |
净利率EXPIJLL
| Q4 25 | -1.1% | 5.3% | ||
| Q3 25 | 0.3% | 3.4% | ||
| Q2 25 | -0.2% | 1.8% | ||
| Q1 25 | -1.2% | 1.0% | ||
| Q4 24 | -0.9% | 3.5% | ||
| Q3 24 | -0.7% | 2.6% | ||
| Q2 24 | 1.0% | 1.5% | ||
| Q1 24 | -1.7% | 1.3% |
每股收益（稀释后）EXPIJLL
| Q4 25 | $-0.08 | $8.33 | ||
| Q3 25 | $0.02 | $4.61 | ||
| Q2 25 | $-0.01 | $2.32 | ||
| Q1 25 | $-0.07 | $1.14 | ||
| Q4 24 | $-0.06 | $4.98 | ||
| Q3 24 | $-0.06 | $3.20 | ||
| Q2 24 | $0.08 | $1.75 | ||
| Q1 24 | $-0.10 | $1.37 |
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 | $599.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | $7.5B |
| 总资产 | $442.5M | $17.8B |
| 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EXPIJLL
| Q4 25 | $124.2M | $599.1M | ||
| Q3 25 | $112.8M | $428.9M | ||
| Q2 25 | $94.6M | $401.4M | ||
| Q1 25 | $115.7M | $432.4M | ||
| Q4 24 | $113.6M | $416.3M | ||
| Q3 24 | $130.4M | $437.8M | ||
| Q2 24 | $108.4M | $424.4M | ||
| Q1 24 | $109.2M | $396.7M |
股东权益EXPIJLL
| Q4 25 | $242.8M | $7.5B | ||
| Q3 25 | $235.3M | $7.2B | ||
| Q2 25 | $218.4M | $7.0B | ||
| Q1 25 | $212.0M | $6.8B | ||
| Q4 24 | $204.9M | $6.8B | ||
| Q3 24 | $211.1M | $6.6B | ||
| Q2 24 | $220.3M | $6.4B | ||
| Q1 24 | $222.4M | $6.3B |
总资产EXPIJLL
| Q4 25 | $442.5M | $17.8B | ||
| Q3 25 | $458.7M | $17.2B | ||
| Q2 25 | $481.2M | $17.3B | ||
| Q1 25 | $435.8M | $16.6B | ||
| Q4 24 | $390.7M | $16.8B | ||
| Q3 24 | $432.6M | $17.8B | ||
| Q2 24 | $457.4M | $15.9B | ||
| Q1 24 | $426.7M | $15.5B |
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 | $1.0B |
| 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 | — | 2.52× |
| 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EXPIJLL
| Q4 25 | $13.8M | $1.0B | ||
| Q3 25 | $28.9M | $617.1M | ||
| Q2 25 | $36.1M | $332.8M | ||
| Q1 25 | $39.8M | $-767.6M | ||
| Q4 24 | $13.7M | $927.3M | ||
| Q3 24 | $46.0M | $261.6M | ||
| Q2 24 | $71.1M | $273.9M | ||
| Q1 24 | $60.7M | $-677.5M |
自由现金流EXPIJLL
| 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EXPIJLL
| 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EXPIJLL
| 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EXPIJLL
| Q4 25 | — | 2.52× | ||
| Q3 25 | 8.26× | 2.77× | ||
| Q2 25 | — | 3.01× | ||
| Q1 25 | — | -13.35× | ||
| Q4 24 | — | 3.84× | ||
| Q3 24 | — | 1.69× | ||
| Q2 24 | 5.75× | 3.25× | ||
| Q1 24 | — | -10.25× |
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% |
JLL
| Workplace Management | $3.8B | 50% |
| Project Management | $1.1B | 15% |
| Leasing Advisory | $1.0B | 13% |
| Leasing | $964.9M | 13% |
| Property Management | $480.2M | 6% |
| Portfolio Services And Other | $152.1M | 2% |
| Advisory Fees | $98.1M | 1% |
| Loan Servicing | $42.2M | 1% |
| Transaction Fees Other | $16.4M | 0% |
