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eXp World Holdings, Inc.（EXPI）与Loews Corporation（L）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Loews Corporation的1.4倍（$1.2B vs $827.0M），Loews Corporation净利率更高（48.6% vs -1.1%，领先49.7%），eXp World Holdings, Inc.同比增速更快（8.5% vs 4.8%），Loews Corporation自由现金流更多（$426.0M vs $11.9M），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs 7.9%）
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。
Loews Corporation是一家总部位于美国的多元化综合企业集团，旗下子公司业务覆盖财产保险、天然气管道运输、酒店运营、油气勘探生产等核心领域，主要服务北美市场的商业、消费者及工业客户。
EXPI vs L — 直观对比
营收规模更大
EXPI
是对方的1.4倍
$827.0M
营收增速更快
EXPI
高出3.7%
4.8%
净利率更高
L
高出49.7%
-1.1%
自由现金流更多
L
多$414.1M
$11.9M
两年增速更快
EXPI
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $827.0M |
| 净利润 | $-12.9M | $402.0M |
| 毛利率 | — | — |
| 营业利润率 | -1.1% | 65.4% |
| 净利率 | -1.1% | 48.6% |
| 营收同比 | 8.5% | 4.8% |
| 净利润同比 | -35.7% | 115.0% |
| 每股收益（稀释后） | $-0.08 | $1.93 |
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EXPIL
| Q4 25 | $1.2B | $827.0M | ||
| Q3 25 | $1.3B | $732.0M | ||
| Q2 25 | $1.3B | $769.0M | ||
| Q1 25 | $954.9M | $846.0M | ||
| Q4 24 | $1.1B | $789.0M | ||
| Q3 24 | $1.2B | $683.0M | ||
| Q2 24 | $1.3B | $711.0M | ||
| Q1 24 | $943.1M | $710.0M |
净利润EXPIL
| Q4 25 | $-12.9M | $402.0M | ||
| Q3 25 | $3.5M | $504.0M | ||
| Q2 25 | $-2.3M | $391.0M | ||
| Q1 25 | $-11.0M | $370.0M | ||
| Q4 24 | $-9.5M | $187.0M | ||
| Q3 24 | $-8.5M | $401.0M | ||
| Q2 24 | $12.4M | $369.0M | ||
| Q1 24 | $-15.6M | $457.0M |
毛利率EXPIL
| 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EXPIL
| Q4 25 | -1.1% | 65.4% | ||
| Q3 25 | 0.3% | 94.1% | ||
| Q2 25 | -0.2% | 70.1% | ||
| Q1 25 | -1.1% | 60.8% | ||
| Q4 24 | -1.0% | 23.8% | ||
| Q3 24 | -0.7% | 80.5% | ||
| Q2 24 | 1.4% | 71.3% | ||
| Q1 24 | -1.9% | 88.6% |
净利率EXPIL
| Q4 25 | -1.1% | 48.6% | ||
| Q3 25 | 0.3% | 68.9% | ||
| Q2 25 | -0.2% | 50.8% | ||
| Q1 25 | -1.2% | 43.7% | ||
| Q4 24 | -0.9% | 23.7% | ||
| Q3 24 | -0.7% | 58.7% | ||
| Q2 24 | 1.0% | 51.9% | ||
| Q1 24 | -1.7% | 64.4% |
每股收益（稀释后）EXPIL
| Q4 25 | $-0.08 | $1.93 | ||
| Q3 25 | $0.02 | $2.43 | ||
| Q2 25 | $-0.01 | $1.87 | ||
| Q1 25 | $-0.07 | $1.74 | ||
| Q4 24 | $-0.06 | $0.87 | ||
| Q3 24 | $-0.06 | $1.82 | ||
| Q2 24 | $0.08 | $1.67 | ||
| Q1 24 | $-0.10 | $2.05 |
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 | $6.0B |
| 总债务越低越好 | — | $8.4B |
| 股东权益账面价值 | $242.8M | $18.7B |
| 总资产 | $442.5M | $86.3B |
| 负债/权益比越低杠杆越低 | — | 0.45× |
8季度趋势，按日历期对齐
现金及短期投资EXPIL
| Q4 25 | $124.2M | $6.0B | ||
| Q3 25 | $112.8M | $5.4B | ||
| Q2 25 | $94.6M | $4.5B | ||
| Q1 25 | $115.7M | $4.4B | ||
| Q4 24 | $113.6M | $4.6B | ||
| Q3 24 | $130.4M | $5.2B | ||
| Q2 24 | $108.4M | $4.9B | ||
| Q1 24 | $109.2M | $5.4B |
总债务EXPIL
| Q4 25 | — | $8.4B | ||
| Q3 25 | — | $8.4B | ||
| Q2 25 | — | $7.9B | ||
| Q1 25 | — | $8.4B | ||
| Q4 24 | — | $8.9B | ||
| Q3 24 | — | $8.8B | ||
| Q2 24 | — | $8.6B | ||
| Q1 24 | — | $8.4B |
股东权益EXPIL
| Q4 25 | $242.8M | $18.7B | ||
| Q3 25 | $235.3M | $18.3B | ||
| Q2 25 | $218.4M | $17.5B | ||
| Q1 25 | $212.0M | $17.2B | ||
| Q4 24 | $204.9M | $17.1B | ||
| Q3 24 | $211.1M | $17.4B | ||
| Q2 24 | $220.3M | $16.4B | ||
| Q1 24 | $222.4M | $16.2B |
总资产EXPIL
| Q4 25 | $442.5M | $86.3B | ||
| Q3 25 | $458.7M | $85.9B | ||
| Q2 25 | $481.2M | $84.7B | ||
| Q1 25 | $435.8M | $83.1B | ||
| Q4 24 | $390.7M | $81.9B | ||
| Q3 24 | $432.6M | $83.6B | ||
| Q2 24 | $457.4M | $81.1B | ||
| Q1 24 | $426.7M | $80.9B |
负债/权益比EXPIL
| Q4 25 | — | 0.45× | ||
| Q3 25 | — | 0.46× | ||
| Q2 25 | — | 0.45× | ||
| Q1 25 | — | 0.49× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | — | 0.52× | ||
| Q1 24 | — | 0.52× |
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 | $617.0M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $426.0M |
| 自由现金流率自由现金流/营收 | 1.0% | 51.5% |
| 资本支出强度资本支出/营收 | 0.2% | 23.1% |
| 现金转化率经营现金流/净利润 | — | 1.53× |
| 过去12个月自由现金流最近4个季度 | $109.0M | $2.7B |
8季度趋势，按日历期对齐
经营现金流EXPIL
| Q4 25 | $13.8M | $617.0M | ||
| Q3 25 | $28.9M | $920.0M | ||
| Q2 25 | $36.1M | $1.0B | ||
| Q1 25 | $39.8M | $736.0M | ||
| Q4 24 | $13.7M | $941.0M | ||
| Q3 24 | $46.0M | $934.0M | ||
| Q2 24 | $71.1M | $952.0M | ||
| Q1 24 | $60.7M | $198.0M |
自由现金流EXPIL
| Q4 25 | $11.9M | $426.0M | ||
| Q3 25 | $26.6M | $764.0M | ||
| Q2 25 | $33.3M | $872.0M | ||
| Q1 25 | $37.3M | $638.0M | ||
| Q4 24 | $11.6M | $767.0M | ||
| Q3 24 | $44.4M | $794.0M | ||
| Q2 24 | $69.7M | $793.0M | ||
| Q1 24 | $59.3M | $39.0M |
自由现金流率EXPIL
| Q4 25 | 1.0% | 51.5% | ||
| Q3 25 | 2.0% | 104.4% | ||
| Q2 25 | 2.5% | 113.4% | ||
| Q1 25 | 3.9% | 75.4% | ||
| Q4 24 | 1.1% | 97.2% | ||
| Q3 24 | 3.6% | 116.3% | ||
| Q2 24 | 5.4% | 111.5% | ||
| Q1 24 | 6.3% | 5.5% |
资本支出强度EXPIL
| Q4 25 | 0.2% | 23.1% | ||
| Q3 25 | 0.2% | 21.3% | ||
| Q2 25 | 0.2% | 17.4% | ||
| Q1 25 | 0.3% | 11.6% | ||
| Q4 24 | 0.2% | 22.1% | ||
| Q3 24 | 0.1% | 20.5% | ||
| Q2 24 | 0.1% | 22.4% | ||
| Q1 24 | 0.1% | 22.4% |
现金转化率EXPIL
| Q4 25 | — | 1.53× | ||
| Q3 25 | 8.26× | 1.83× | ||
| Q2 25 | — | 2.57× | ||
| Q1 25 | — | 1.99× | ||
| Q4 24 | — | 5.03× | ||
| Q3 24 | — | 2.33× | ||
| Q2 24 | 5.75× | 2.58× | ||
| Q1 24 | — | 0.43× |
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% |
L
| Transportation And Storage Of Natural Gas And NG Ls And Ethane Supply And Transportation Services | $601.0M | 73% |
| Lodging And Related Services | $226.0M | 27% |
