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eXp World Holdings, Inc.（EXPI）与KB HOME（KBH）财务数据对比。点击上方公司名可切换其他公司
KB HOME的季度营收约是eXp World Holdings, Inc.的1.4倍（$1.7B vs $1.2B），KB HOME净利率更高（6.0% vs -1.1%，领先7.1%），eXp World Holdings, Inc.同比增速更快（8.5% vs -15.3%），KB HOME自由现金流更多（$290.1M vs $11.9M），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs 7.4%）
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。
KB Home是美国知名住宅建造企业，1957年于密歇根州底特律成立，前身为Kaufman & Broad，是首家在纽约证券交易所上市的住宅建造商，总部现位于加利福尼亚州洛杉矶。
EXPI vs KBH — 直观对比
营收规模更大
KBH
是对方的1.4倍
$1.2B
营收增速更快
EXPI
高出23.8%
-15.3%
净利率更高
KBH
高出7.1%
-1.1%
自由现金流更多
KBH
多$278.1M
$11.9M
两年增速更快
EXPI
近两年复合增速
7.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.7B |
| 净利润 | $-12.9M | $101.5M |
| 毛利率 | — | — |
| 营业利润率 | -1.1% | — |
| 净利率 | -1.1% | 6.0% |
| 营收同比 | 8.5% | -15.3% |
| 净利润同比 | -35.7% | -46.7% |
| 每股收益（稀释后） | $-0.08 | $1.55 |
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EXPIKBH
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $954.9M | $1.4B | ||
| Q4 24 | $1.1B | $2.0B | ||
| Q3 24 | $1.2B | $1.8B | ||
| Q2 24 | $1.3B | $1.7B | ||
| Q1 24 | $943.1M | $1.5B |
净利润EXPIKBH
| Q4 25 | $-12.9M | $101.5M | ||
| Q3 25 | $3.5M | $109.8M | ||
| Q2 25 | $-2.3M | $107.9M | ||
| Q1 25 | $-11.0M | $109.6M | ||
| Q4 24 | $-9.5M | $190.6M | ||
| Q3 24 | $-8.5M | $157.3M | ||
| Q2 24 | $12.4M | $168.4M | ||
| Q1 24 | $-15.6M | $138.7M |
毛利率EXPIKBH
| 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EXPIKBH
| Q4 25 | -1.1% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | -0.2% | — | ||
| Q1 25 | -1.1% | — | ||
| Q4 24 | -1.0% | — | ||
| Q3 24 | -0.7% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | -1.9% | — |
净利率EXPIKBH
| Q4 25 | -1.1% | 6.0% | ||
| Q3 25 | 0.3% | 6.8% | ||
| Q2 25 | -0.2% | 7.1% | ||
| Q1 25 | -1.2% | 7.9% | ||
| Q4 24 | -0.9% | 9.5% | ||
| Q3 24 | -0.7% | 9.0% | ||
| Q2 24 | 1.0% | 9.9% | ||
| Q1 24 | -1.7% | 9.4% |
每股收益（稀释后）EXPIKBH
| Q4 25 | $-0.08 | $1.55 | ||
| Q3 25 | $0.02 | $1.61 | ||
| Q2 25 | $-0.01 | $1.50 | ||
| Q1 25 | $-0.07 | $1.49 | ||
| Q4 24 | $-0.06 | $2.50 | ||
| Q3 24 | $-0.06 | $2.04 | ||
| Q2 24 | $0.08 | $2.15 | ||
| Q1 24 | $-0.10 | $1.76 |
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 | $3.9B |
| 总资产 | $442.5M | $6.7B |
| 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EXPIKBH
| 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EXPIKBH
| Q4 25 | $242.8M | $3.9B | ||
| Q3 25 | $235.3M | $3.9B | ||
| Q2 25 | $218.4M | $4.0B | ||
| Q1 25 | $212.0M | $4.1B | ||
| Q4 24 | $204.9M | $4.1B | ||
| Q3 24 | $211.1M | $4.0B | ||
| Q2 24 | $220.3M | $4.0B | ||
| Q1 24 | $222.4M | $3.9B |
总资产EXPIKBH
| Q4 25 | $442.5M | $6.7B | ||
| Q3 25 | $458.7M | $7.0B | ||
| Q2 25 | $481.2M | $7.0B | ||
| Q1 25 | $435.8M | $7.0B | ||
| Q4 24 | $390.7M | $6.9B | ||
| Q3 24 | $432.6M | $6.8B | ||
| Q2 24 | $457.4M | $6.8B | ||
| Q1 24 | $426.7M | $6.7B |
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 | $303.8M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $290.1M |
| 自由现金流率自由现金流/营收 | 1.0% | 17.1% |
| 资本支出强度资本支出/营收 | 0.2% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 2.99× |
| 过去12个月自由现金流最近4个季度 | $109.0M | $287.3M |
8季度趋势，按日历期对齐
经营现金流EXPIKBH
| Q4 25 | $13.8M | $303.8M | ||
| Q3 25 | $28.9M | $197.7M | ||
| Q2 25 | $36.1M | $168.4M | ||
| Q1 25 | $39.8M | $-334.3M | ||
| Q4 24 | $13.7M | $362.6M | ||
| Q3 24 | $46.0M | $-89.9M | ||
| Q2 24 | $71.1M | $61.5M | ||
| Q1 24 | $60.7M | $28.5M |
自由现金流EXPIKBH
| Q4 25 | $11.9M | $290.1M | ||
| Q3 25 | $26.6M | $185.8M | ||
| Q2 25 | $33.3M | $156.9M | ||
| Q1 25 | $37.3M | $-345.5M | ||
| Q4 24 | $11.6M | $352.6M | ||
| Q3 24 | $44.4M | $-99.4M | ||
| Q2 24 | $69.7M | $51.2M | ||
| Q1 24 | $59.3M | $19.1M |
自由现金流率EXPIKBH
| Q4 25 | 1.0% | 17.1% | ||
| Q3 25 | 2.0% | 11.5% | ||
| Q2 25 | 2.5% | 10.3% | ||
| Q1 25 | 3.9% | -24.8% | ||
| Q4 24 | 1.1% | 17.6% | ||
| Q3 24 | 3.6% | -5.7% | ||
| Q2 24 | 5.4% | 3.0% | ||
| Q1 24 | 6.3% | 1.3% |
资本支出强度EXPIKBH
| Q4 25 | 0.2% | 0.8% | ||
| Q3 25 | 0.2% | 0.7% | ||
| Q2 25 | 0.2% | 0.8% | ||
| Q1 25 | 0.3% | 0.8% | ||
| Q4 24 | 0.2% | 0.5% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.1% | 0.6% | ||
| Q1 24 | 0.1% | 0.6% |
现金转化率EXPIKBH
| Q4 25 | — | 2.99× | ||
| Q3 25 | 8.26× | 1.80× | ||
| Q2 25 | — | 1.56× | ||
| Q1 25 | — | -3.05× | ||
| Q4 24 | — | 1.90× | ||
| Q3 24 | — | -0.57× | ||
| Q2 24 | 5.75× | 0.37× | ||
| Q1 24 | — | 0.21× |
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% |
KBH
| Home Building | $1.7B | 99% |
| Financial Service | $8.7M | 1% |
