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eXp World Holdings, Inc.（EXPI）与雷诺士国际（LII）财务数据对比。点击上方公司名可切换其他公司
雷诺士国际的季度营收约是eXp World Holdings, Inc.的1.0倍（$1.2B vs $1.2B），雷诺士国际净利率更高（13.6% vs -1.1%，领先14.6%），eXp World Holdings, Inc.同比增速更快（8.5% vs -11.2%），雷诺士国际自由现金流更多（$376.7M vs $11.9M），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs 6.8%）
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。
雷诺士国际是美国知名的暖通空调（HVAC）及制冷领域气候控制产品供应商，总部位于得克萨斯州理查森。公司在墨西哥萨尔蒂约、美国爱荷华州马歇尔敦、南卡罗来纳州奥兰治堡设有核心生产基地，1904年收购公司的诺里斯家族后裔约翰·W·诺里斯三世持有其9.8%的股份。
EXPI vs LII — 直观对比
营收规模更大
LII
是对方的1.0倍
$1.2B
营收增速更快
EXPI
高出19.7%
-11.2%
净利率更高
LII
高出14.6%
-1.1%
自由现金流更多
LII
多$364.8M
$11.9M
两年增速更快
EXPI
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.2B |
| 净利润 | $-12.9M | $162.1M |
| 毛利率 | — | 34.7% |
| 营业利润率 | -1.1% | 18.6% |
| 净利率 | -1.1% | 13.6% |
| 营收同比 | 8.5% | -11.2% |
| 净利润同比 | -35.7% | -18.0% |
| 每股收益（稀释后） | $-0.08 | $4.62 |
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EXPILII
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.3B | $1.4B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $954.9M | $1.1B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.2B | $1.5B | ||
| Q2 24 | $1.3B | $1.5B | ||
| Q1 24 | $943.1M | $1.0B |
净利润EXPILII
| Q4 25 | $-12.9M | $162.1M | ||
| Q3 25 | $3.5M | $245.8M | ||
| Q2 25 | $-2.3M | $277.6M | ||
| Q1 25 | $-11.0M | $120.3M | ||
| Q4 24 | $-9.5M | $197.7M | ||
| Q3 24 | $-8.5M | $239.0M | ||
| Q2 24 | $12.4M | $245.9M | ||
| Q1 24 | $-15.6M | $124.3M |
毛利率EXPILII
| Q4 25 | — | 34.7% | ||
| Q3 25 | — | 32.8% | ||
| Q2 25 | — | 34.8% | ||
| Q1 25 | — | 30.6% | ||
| Q4 24 | — | 33.9% | ||
| Q3 24 | 99.9% | 32.6% | ||
| Q2 24 | 99.9% | 33.6% | ||
| Q1 24 | — | 32.5% |
营业利润率EXPILII
| Q4 25 | -1.1% | 18.6% | ||
| Q3 25 | 0.3% | 21.7% | ||
| Q2 25 | -0.2% | 23.6% | ||
| Q1 25 | -1.1% | 14.5% | ||
| Q4 24 | -1.0% | 18.2% | ||
| Q3 24 | -0.7% | 20.2% | ||
| Q2 24 | 1.4% | 22.1% | ||
| Q1 24 | -1.9% | 15.9% |
净利率EXPILII
| Q4 25 | -1.1% | 13.6% | ||
| Q3 25 | 0.3% | 17.2% | ||
| Q2 25 | -0.2% | 18.5% | ||
| Q1 25 | -1.2% | 11.2% | ||
| Q4 24 | -0.9% | 14.7% | ||
| Q3 24 | -0.7% | 16.0% | ||
| Q2 24 | 1.0% | 16.9% | ||
| Q1 24 | -1.7% | 11.9% |
每股收益（稀释后）EXPILII
| Q4 25 | $-0.08 | $4.62 | ||
| Q3 25 | $0.02 | $6.98 | ||
| Q2 25 | $-0.01 | $7.82 | ||
| Q1 25 | $-0.07 | $3.37 | ||
| Q4 24 | $-0.06 | $5.52 | ||
| Q3 24 | $-0.06 | $6.68 | ||
| Q2 24 | $0.08 | $6.87 | ||
| Q1 24 | $-0.10 | $3.47 |
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 | $34.7M |
| 总债务越低越好 | — | $1.1B |
| 股东权益账面价值 | $242.8M | $1.2B |
| 总资产 | $442.5M | $4.1B |
| 负债/权益比越低杠杆越低 | — | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资EXPILII
| Q4 25 | $124.2M | $34.7M | ||
| Q3 25 | $112.8M | $59.2M | ||
| Q2 25 | $94.6M | $55.1M | ||
| Q1 25 | $115.7M | $222.9M | ||
| Q4 24 | $113.6M | $422.3M | ||
| Q3 24 | $130.4M | $255.7M | ||
| Q2 24 | $108.4M | $57.8M | ||
| Q1 24 | $109.2M | $57.6M |
总债务EXPILII
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $838.2M | ||
| Q2 25 | — | $835.7M | ||
| Q1 25 | — | $834.2M | ||
| Q4 24 | — | $833.1M | ||
| Q3 24 | — | $827.6M | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.2B |
股东权益EXPILII
| Q4 25 | $242.8M | $1.2B | ||
| Q3 25 | $235.3M | $1.1B | ||
| Q2 25 | $218.4M | $900.5M | ||
| Q1 25 | $212.0M | $852.5M | ||
| Q4 24 | $204.9M | $850.2M | ||
| Q3 24 | $211.1M | $754.0M | ||
| Q2 24 | $220.3M | $577.4M | ||
| Q1 24 | $222.4M | $368.8M |
总资产EXPILII
| Q4 25 | $442.5M | $4.1B | ||
| Q3 25 | $458.7M | $3.5B | ||
| Q2 25 | $481.2M | $3.7B | ||
| Q1 25 | $435.8M | $3.5B | ||
| Q4 24 | $390.7M | $3.5B | ||
| Q3 24 | $432.6M | $3.3B | ||
| Q2 24 | $457.4M | $3.2B | ||
| Q1 24 | $426.7M | $3.0B |
负债/权益比EXPILII
| Q4 25 | — | 0.98× | ||
| Q3 25 | — | 0.78× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | — | 0.98× | ||
| Q3 24 | — | 1.10× | ||
| Q2 24 | — | 1.95× | ||
| Q1 24 | — | 3.13× |
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 | $405.9M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $376.7M |
| 自由现金流率自由现金流/营收 | 1.0% | 31.5% |
| 资本支出强度资本支出/营收 | 0.2% | 2.4% |
| 现金转化率经营现金流/净利润 | — | 2.50× |
| 过去12个月自由现金流最近4个季度 | $109.0M | $638.8M |
8季度趋势，按日历期对齐
经营现金流EXPILII
| Q4 25 | $13.8M | $405.9M | ||
| Q3 25 | $28.9M | $300.7M | ||
| Q2 25 | $36.1M | $86.8M | ||
| Q1 25 | $39.8M | $-35.8M | ||
| Q4 24 | $13.7M | $332.4M | ||
| Q3 24 | $46.0M | $452.1M | ||
| Q2 24 | $71.1M | $184.0M | ||
| Q1 24 | $60.7M | $-22.8M |
自由现金流EXPILII
| Q4 25 | $11.9M | $376.7M | ||
| Q3 25 | $26.6M | $265.1M | ||
| Q2 25 | $33.3M | $58.3M | ||
| Q1 25 | $37.3M | $-61.3M | ||
| Q4 24 | $11.6M | $272.2M | ||
| Q3 24 | $44.4M | $410.9M | ||
| Q2 24 | $69.7M | $151.3M | ||
| Q1 24 | $59.3M | $-52.3M |
自由现金流率EXPILII
| Q4 25 | 1.0% | 31.5% | ||
| Q3 25 | 2.0% | 18.6% | ||
| Q2 25 | 2.5% | 3.9% | ||
| Q1 25 | 3.9% | -5.7% | ||
| Q4 24 | 1.1% | 20.2% | ||
| Q3 24 | 3.6% | 27.4% | ||
| Q2 24 | 5.4% | 10.4% | ||
| Q1 24 | 6.3% | -5.0% |
资本支出强度EXPILII
| Q4 25 | 0.2% | 2.4% | ||
| Q3 25 | 0.2% | 2.5% | ||
| Q2 25 | 0.2% | 1.9% | ||
| Q1 25 | 0.3% | 2.4% | ||
| Q4 24 | 0.2% | 4.5% | ||
| Q3 24 | 0.1% | 2.8% | ||
| Q2 24 | 0.1% | 2.3% | ||
| Q1 24 | 0.1% | 2.8% |
现金转化率EXPILII
| Q4 25 | — | 2.50× | ||
| Q3 25 | 8.26× | 1.22× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | -0.30× | ||
| Q4 24 | — | 1.68× | ||
| Q3 24 | — | 1.89× | ||
| Q2 24 | 5.75× | 0.75× | ||
| Q1 24 | — | -0.18× |
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% |
LII
| Residential Heating And Cooling | $699.8M | 59% |
| Commercial Heating And Cooling | $495.2M | 41% |
