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eXp World Holdings, Inc.（EXPI）与罗技（LOGI）财务数据对比。点击上方公司名可切换其他公司
罗技的季度营收约是eXp World Holdings, Inc.的1.2倍（$1.4B vs $1.2B），罗技净利率更高（17.7% vs -1.1%，领先18.7%），eXp World Holdings, Inc.同比增速更快（8.5% vs 6.1%），罗技自由现金流更多（$465.6M vs $11.9M），过去两年罗技的营收复合增速更高（18.5% 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。
罗技国际是总部位于瑞士洛桑的跨国企业，专注于计算机外设及相关软件的研发与生产，在欧洲、亚洲、大洋洲、美洲均设有分支机构，为瑞士市场指数成分股，同时在纳斯达克交易所挂牌上市。
EXPI vs LOGI — 直观对比
营收规模更大
LOGI
是对方的1.2倍
$1.2B
营收增速更快
EXPI
高出2.5%
6.1%
净利率更高
LOGI
高出18.7%
-1.1%
自由现金流更多
LOGI
多$453.7M
$11.9M
两年增速更快
LOGI
近两年复合增速
12.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.4B |
| 净利润 | $-12.9M | $251.0M |
| 毛利率 | — | 43.2% |
| 营业利润率 | -1.1% | 20.1% |
| 净利率 | -1.1% | 17.7% |
| 营收同比 | 8.5% | 6.1% |
| 净利润同比 | -35.7% | 25.4% |
| 每股收益（稀释后） | $-0.08 | $1.69 |
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EXPILOGI
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $954.9M | $1.0B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.3B | $1.1B | ||
| Q1 24 | $943.1M | $1.0B |
净利润EXPILOGI
| Q4 25 | $-12.9M | $251.0M | ||
| Q3 25 | $3.5M | $170.7M | ||
| Q2 25 | $-2.3M | $146.0M | ||
| Q1 25 | $-11.0M | $144.1M | ||
| Q4 24 | $-9.5M | $200.1M | ||
| Q3 24 | $-8.5M | $145.5M | ||
| Q2 24 | $12.4M | $141.8M | ||
| Q1 24 | $-15.6M | $167.6M |
毛利率EXPILOGI
| Q4 25 | — | 43.2% | ||
| Q3 25 | — | 43.4% | ||
| Q2 25 | — | 41.7% | ||
| Q1 25 | — | 43.1% | ||
| Q4 24 | — | 42.9% | ||
| Q3 24 | 99.9% | 43.6% | ||
| Q2 24 | 99.9% | 42.8% | ||
| Q1 24 | — | 43.2% |
营业利润率EXPILOGI
| Q4 25 | -1.1% | 20.1% | ||
| Q3 25 | 0.3% | 16.1% | ||
| Q2 25 | -0.2% | 14.1% | ||
| Q1 25 | -1.1% | 10.5% | ||
| Q4 24 | -1.0% | 17.5% | ||
| Q3 24 | -0.7% | 14.4% | ||
| Q2 24 | 1.4% | 14.1% | ||
| Q1 24 | -1.9% | 12.9% |
净利率EXPILOGI
| Q4 25 | -1.1% | 17.7% | ||
| Q3 25 | 0.3% | 14.4% | ||
| Q2 25 | -0.2% | 12.7% | ||
| Q1 25 | -1.2% | 14.3% | ||
| Q4 24 | -0.9% | 14.9% | ||
| Q3 24 | -0.7% | 13.0% | ||
| Q2 24 | 1.0% | 13.0% | ||
| Q1 24 | -1.7% | 16.6% |
每股收益（稀释后）EXPILOGI
| Q4 25 | $-0.08 | $1.69 | ||
| Q3 25 | $0.02 | $1.15 | ||
| Q2 25 | $-0.01 | $0.98 | ||
| Q1 25 | $-0.07 | $0.94 | ||
| Q4 24 | $-0.06 | $1.32 | ||
| Q3 24 | $-0.06 | $0.95 | ||
| Q2 24 | $0.08 | $0.92 | ||
| Q1 24 | $-0.10 | $1.07 |
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 | $1.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | $2.3B |
| 总资产 | $442.5M | $4.1B |
| 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EXPILOGI
| Q4 25 | $124.2M | $1.8B | ||
| Q3 25 | $112.8M | $1.4B | ||
| Q2 25 | $94.6M | $1.5B | ||
| Q1 25 | $115.7M | $1.5B | ||
| Q4 24 | $113.6M | $1.5B | ||
| Q3 24 | $130.4M | $1.4B | ||
| Q2 24 | $108.4M | $1.5B | ||
| Q1 24 | $109.2M | $1.5B |
股东权益EXPILOGI
| Q4 25 | $242.8M | $2.3B | ||
| Q3 25 | $235.3M | $2.1B | ||
| Q2 25 | $218.4M | $2.2B | ||
| Q1 25 | $212.0M | $2.1B | ||
| Q4 24 | $204.9M | $2.1B | ||
| Q3 24 | $211.1M | $2.1B | ||
| Q2 24 | $220.3M | $2.2B | ||
| Q1 24 | $222.4M | $2.2B |
总资产EXPILOGI
| Q4 25 | $442.5M | $4.1B | ||
| Q3 25 | $458.7M | $3.7B | ||
| Q2 25 | $481.2M | $3.7B | ||
| Q1 25 | $435.8M | $3.5B | ||
| Q4 24 | $390.7M | $3.7B | ||
| Q3 24 | $432.6M | $3.6B | ||
| Q2 24 | $457.4M | $3.7B | ||
| Q1 24 | $426.7M | $3.6B |
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 | $480.5M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $465.6M |
| 自由现金流率自由现金流/营收 | 1.0% | 32.8% |
| 资本支出强度资本支出/营收 | 0.2% | 1.0% |
| 现金转化率经营现金流/净利润 | — | 1.91× |
| 过去12个月自由现金流最近4个季度 | $109.0M | $903.6M |
8季度趋势，按日历期对齐
经营现金流EXPILOGI
| Q4 25 | $13.8M | $480.5M | ||
| Q3 25 | $28.9M | $228.8M | ||
| Q2 25 | $36.1M | $125.0M | ||
| Q1 25 | $39.8M | $129.7M | ||
| Q4 24 | $13.7M | $370.9M | ||
| Q3 24 | $46.0M | $166.0M | ||
| Q2 24 | $71.1M | $176.0M | ||
| Q1 24 | $60.7M | $239.1M |
自由现金流EXPILOGI
| Q4 25 | $11.9M | $465.6M | ||
| Q3 25 | $26.6M | $212.3M | ||
| Q2 25 | $33.3M | $108.8M | ||
| Q1 25 | $37.3M | $116.9M | ||
| Q4 24 | $11.6M | $356.6M | ||
| Q3 24 | $44.4M | $151.5M | ||
| Q2 24 | $69.7M | $161.4M | ||
| Q1 24 | $59.3M | $228.8M |
自由现金流率EXPILOGI
| Q4 25 | 1.0% | 32.8% | ||
| Q3 25 | 2.0% | 17.9% | ||
| Q2 25 | 2.5% | 9.5% | ||
| Q1 25 | 3.9% | 11.6% | ||
| Q4 24 | 1.1% | 26.6% | ||
| Q3 24 | 3.6% | 13.6% | ||
| Q2 24 | 5.4% | 14.8% | ||
| Q1 24 | 6.3% | 22.6% |
资本支出强度EXPILOGI
| Q4 25 | 0.2% | 1.0% | ||
| Q3 25 | 0.2% | 1.4% | ||
| Q2 25 | 0.2% | 1.4% | ||
| Q1 25 | 0.3% | 1.3% | ||
| Q4 24 | 0.2% | 1.1% | ||
| Q3 24 | 0.1% | 1.3% | ||
| Q2 24 | 0.1% | 1.3% | ||
| Q1 24 | 0.1% | 1.0% |
现金转化率EXPILOGI
| Q4 25 | — | 1.91× | ||
| Q3 25 | 8.26× | 1.34× | ||
| Q2 25 | — | 0.86× | ||
| Q1 25 | — | 0.90× | ||
| Q4 24 | — | 1.85× | ||
| Q3 24 | — | 1.14× | ||
| Q2 24 | 5.75× | 1.24× | ||
| Q1 24 | — | 1.43× |
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% |
LOGI
| Retail Gaming | $482.7M | 34% |
| Retail Keyboards Desktops | $254.6M | 18% |
| Retail Pointing Devices | $241.2M | 17% |
| Retail Video Collaboration | $193.3M | 14% |
| Retail Tablet And Other Accessories | $93.6M | 7% |
| Retail Webcams | $82.3M | 6% |
| Retail Headsets | $45.9M | 3% |
| Other Retail Products | $28.0M | 2% |
