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eXp World Holdings, Inc.（EXPI）与Liberty Global Ltd.（LBTYA）财务数据对比。点击上方公司名可切换其他公司
Liberty Global Ltd.的季度营收约是eXp World Holdings, Inc.的2.0倍（$2.4B vs $1.2B），Liberty Global Ltd.净利率更高（15.0% vs -1.1%，领先16.1%），eXp World Holdings, Inc.同比增速更快（8.5% vs -3.6%），过去两年Liberty Global Ltd.的营收复合增速更高（12.9% 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。
自由全球有限公司是一家英荷美合资的跨国电信企业，注册地位于百慕大，在伦敦、阿姆斯特丹和丹佛均设有总部。公司旗下拥有英国自由全球控股有限公司、荷兰自由全球有限公司及美国自由全球公司三大主体，其中英国主体为上市实体。企业由自由媒体国际业务部与UnitedGlobalCom于2005年合并成立，在全球电信服务领域拥有深厚的行业积累。
EXPI vs LBTYA — 直观对比
营收规模更大
LBTYA
是对方的2.0倍
$1.2B
营收增速更快
EXPI
高出12.2%
-3.6%
净利率更高
LBTYA
高出16.1%
-1.1%
两年增速更快
LBTYA
近两年复合增速
12.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.4B |
| 净利润 | $-12.9M | $358.2M |
| 毛利率 | — | — |
| 营业利润率 | -1.1% | 1.0% |
| 净利率 | -1.1% | 15.0% |
| 营收同比 | 8.5% | -3.6% |
| 净利润同比 | -35.7% | 127.1% |
| 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EXPILBTYA
| Q1 26 | — | $2.4B | ||
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $954.9M | $1.2B | ||
| Q4 24 | $1.1B | $-1.4B | ||
| Q3 24 | $1.2B | $1.9B | ||
| Q2 24 | $1.3B | $1.9B |
净利润EXPILBTYA
| Q1 26 | — | $358.2M | ||
| Q4 25 | $-12.9M | $-2.9B | ||
| Q3 25 | $3.5M | $-90.7M | ||
| Q2 25 | $-2.3M | $-2.8B | ||
| Q1 25 | $-11.0M | $-1.3B | ||
| Q4 24 | $-9.5M | $2.2B | ||
| Q3 24 | $-8.5M | $-1.4B | ||
| Q2 24 | $12.4M | $268.1M |
毛利率EXPILBTYA
| Q1 26 | — | — | ||
| Q4 25 | — | 66.8% | ||
| Q3 25 | — | 67.5% | ||
| Q2 25 | — | 63.3% | ||
| Q1 25 | — | 65.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | 99.9% | 69.4% | ||
| Q2 24 | 99.9% | 68.5% |
营业利润率EXPILBTYA
| Q1 26 | — | 1.0% | ||
| Q4 25 | -1.1% | -8.6% | ||
| Q3 25 | 0.3% | -0.7% | ||
| Q2 25 | -0.2% | 2.3% | ||
| Q1 25 | -1.1% | 5.2% | ||
| Q4 24 | -1.0% | — | ||
| Q3 24 | -0.7% | 5.2% | ||
| Q2 24 | 1.4% | 1.0% |
净利率EXPILBTYA
| Q1 26 | — | 15.0% | ||
| Q4 25 | -1.1% | -237.0% | ||
| Q3 25 | 0.3% | -7.5% | ||
| Q2 25 | -0.2% | -220.1% | ||
| Q1 25 | -1.2% | -114.2% | ||
| Q4 24 | -0.9% | -158.9% | ||
| Q3 24 | -0.7% | -74.1% | ||
| Q2 24 | 1.0% | 14.3% |
每股收益（稀释后）EXPILBTYA
| Q1 26 | — | — | ||
| Q4 25 | $-0.08 | $-8.66 | ||
| Q3 25 | $0.02 | $-0.27 | ||
| Q2 25 | $-0.01 | $-8.09 | ||
| Q1 25 | $-0.07 | $-3.84 | ||
| Q4 24 | $-0.06 | $6.15 | ||
| Q3 24 | $-0.06 | $-3.95 | ||
| Q2 24 | $0.08 | $0.71 |
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 | $-387.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | — |
| 总资产 | $442.5M | — |
| 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EXPILBTYA
| Q1 26 | — | $-387.3M | ||
| Q4 25 | $124.2M | $2.2B | ||
| Q3 25 | $112.8M | $1.7B | ||
| Q2 25 | $94.6M | $3.1B | ||
| Q1 25 | $115.7M | $2.0B | ||
| Q4 24 | $113.6M | $2.2B | ||
| Q3 24 | $130.4M | $3.3B | ||
| Q2 24 | $108.4M | $3.2B |
总债务EXPILBTYA
| Q1 26 | — | — | ||
| Q4 25 | — | $7.8B | ||
| Q3 25 | — | $7.8B | ||
| Q2 25 | — | $7.8B | ||
| Q1 25 | — | $8.2B | ||
| Q4 24 | — | $8.2B | ||
| Q3 24 | — | $14.9B | ||
| Q2 24 | — | $14.7B |
股东权益EXPILBTYA
| Q1 26 | — | — | ||
| Q4 25 | $242.8M | $9.7B | ||
| Q3 25 | $235.3M | $12.7B | ||
| Q2 25 | $218.4M | $13.0B | ||
| Q1 25 | $212.0M | $12.6B | ||
| Q4 24 | $204.9M | $12.4B | ||
| Q3 24 | $211.1M | $18.7B | ||
| Q2 24 | $220.3M | $18.3B |
总资产EXPILBTYA
| Q1 26 | — | — | ||
| Q4 25 | $442.5M | $22.6B | ||
| Q3 25 | $458.7M | $25.4B | ||
| Q2 25 | $481.2M | $27.2B | ||
| Q1 25 | $435.8M | $26.0B | ||
| Q4 24 | $390.7M | $25.4B | ||
| Q3 24 | $432.6M | $41.8B | ||
| Q2 24 | $457.4M | $40.8B |
负债/权益比EXPILBTYA
| Q1 26 | — | — | ||
| Q4 25 | — | 0.80× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | — | 0.80× | ||
| Q2 24 | — | 0.80× |
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 | $107.6M |
| 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% | 1.5% |
| 现金转化率经营现金流/净利润 | — | 0.30× |
| 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EXPILBTYA
| Q1 26 | — | $107.6M | ||
| Q4 25 | $13.8M | $630.9M | ||
| Q3 25 | $28.9M | $301.8M | ||
| Q2 25 | $36.1M | $149.2M | ||
| Q1 25 | $39.8M | $129.2M | ||
| Q4 24 | $13.7M | $791.6M | ||
| Q3 24 | $46.0M | $449.5M | ||
| Q2 24 | $71.1M | $546.1M |
自由现金流EXPILBTYA
| Q1 26 | — | — | ||
| Q4 25 | $11.9M | $193.3M | ||
| Q3 25 | $26.6M | $-41.1M | ||
| Q2 25 | $33.3M | $-170.1M | ||
| Q1 25 | $37.3M | $-114.1M | ||
| Q4 24 | $11.6M | $712.9M | ||
| Q3 24 | $44.4M | $102.4M | ||
| Q2 24 | $69.7M | $256.8M |
自由现金流率EXPILBTYA
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 15.7% | ||
| Q3 25 | 2.0% | -3.4% | ||
| Q2 25 | 2.5% | -13.4% | ||
| Q1 25 | 3.9% | -9.7% | ||
| Q4 24 | 1.1% | -50.5% | ||
| Q3 24 | 3.6% | 5.3% | ||
| Q2 24 | 5.4% | 13.7% |
资本支出强度EXPILBTYA
| Q1 26 | — | 1.5% | ||
| Q4 25 | 0.2% | 35.5% | ||
| Q3 25 | 0.2% | 28.4% | ||
| Q2 25 | 0.2% | 25.2% | ||
| Q1 25 | 0.3% | 20.8% | ||
| Q4 24 | 0.2% | -5.6% | ||
| Q3 24 | 0.1% | 17.9% | ||
| Q2 24 | 0.1% | 15.4% |
现金转化率EXPILBTYA
| Q1 26 | — | 0.30× | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.26× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.35× | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.75× | 2.04× |
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% |
LBTYA
| Mobile Service | $775.2M | 32% |
| Fixed Service | $772.0M | 32% |
| Business | $308.7M | 13% |
| Wholesale | $256.9M | 11% |
| Business Service | $233.2M | 10% |
