vs
eXp World Holdings, Inc.（EXPI）与摩丁制造（MOD）财务数据对比。点击上方公司名可切换其他公司
eXp World Holdings, Inc.的季度营收约是摩丁制造的1.5倍（$1.2B vs $805.0M），eXp World Holdings, Inc.净利率更高（-1.1% vs -5.9%，领先4.8%），摩丁制造同比增速更快（30.5% vs 8.5%），eXp World Holdings, Inc.自由现金流更多（$11.9M vs $-17.1M），过去两年摩丁制造的营收复合增速更高（15.5% 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。
摩丁制造是1916年成立于美国的热管理企业。创始人亚瑟·B·摩丁获拖拉机Spirex散热器专利后创立公司，曾为福特T型车生产Turbotube散热器，1941年在威斯康星州拉辛建成全球首个车用风洞，二战期间为P-51野马战斗机供应后冷却器。
EXPI vs MOD — 直观对比
营收规模更大
EXPI
是对方的1.5倍
$805.0M
营收增速更快
MOD
高出22.0%
8.5%
净利率更高
EXPI
高出4.8%
-5.9%
自由现金流更多
EXPI
多$29.0M
$-17.1M
两年增速更快
MOD
近两年复合增速
12.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $805.0M |
| 净利润 | $-12.9M | $-47.4M |
| 毛利率 | — | 23.1% |
| 营业利润率 | -1.1% | 11.1% |
| 净利率 | -1.1% | -5.9% |
| 营收同比 | 8.5% | 30.5% |
| 净利润同比 | -35.7% | -215.6% |
| 每股收益（稀释后） | $-0.08 | $-0.90 |
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EXPIMOD
| Q4 25 | $1.2B | $805.0M | ||
| Q3 25 | $1.3B | $738.9M | ||
| Q2 25 | $1.3B | $682.8M | ||
| Q1 25 | $954.9M | $647.2M | ||
| Q4 24 | $1.1B | $616.8M | ||
| Q3 24 | $1.2B | $658.0M | ||
| Q2 24 | $1.3B | $661.5M | ||
| Q1 24 | $943.1M | $603.5M |
净利润EXPIMOD
| Q4 25 | $-12.9M | $-47.4M | ||
| Q3 25 | $3.5M | $44.4M | ||
| Q2 25 | $-2.3M | $51.2M | ||
| Q1 25 | $-11.0M | $49.6M | ||
| Q4 24 | $-9.5M | $41.0M | ||
| Q3 24 | $-8.5M | $46.1M | ||
| Q2 24 | $12.4M | $47.3M | ||
| Q1 24 | $-15.6M | $25.8M |
毛利率EXPIMOD
| Q4 25 | — | 23.1% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | — | 25.6% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | 99.9% | 25.2% | ||
| Q2 24 | 99.9% | 24.6% | ||
| Q1 24 | — | 22.4% |
营业利润率EXPIMOD
| Q4 25 | -1.1% | 11.1% | ||
| Q3 25 | 0.3% | 9.9% | ||
| Q2 25 | -0.2% | 11.1% | ||
| Q1 25 | -1.1% | 11.5% | ||
| Q4 24 | -1.0% | 9.6% | ||
| Q3 24 | -0.7% | 11.4% | ||
| Q2 24 | 1.4% | 11.2% | ||
| Q1 24 | -1.9% | 7.8% |
净利率EXPIMOD
| Q4 25 | -1.1% | -5.9% | ||
| Q3 25 | 0.3% | 6.0% | ||
| Q2 25 | -0.2% | 7.5% | ||
| Q1 25 | -1.2% | 7.7% | ||
| Q4 24 | -0.9% | 6.6% | ||
| Q3 24 | -0.7% | 7.0% | ||
| Q2 24 | 1.0% | 7.2% | ||
| Q1 24 | -1.7% | 4.3% |
每股收益（稀释后）EXPIMOD
| Q4 25 | $-0.08 | $-0.90 | ||
| Q3 25 | $0.02 | $0.83 | ||
| Q2 25 | $-0.01 | $0.95 | ||
| Q1 25 | $-0.07 | $0.92 | ||
| Q4 24 | $-0.06 | $0.76 | ||
| Q3 24 | $-0.06 | $0.86 | ||
| Q2 24 | $0.08 | $0.88 | ||
| Q1 24 | $-0.10 | $0.48 |
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 | $98.7M |
| 总债务越低越好 | — | $570.7M |
| 股东权益账面价值 | $242.8M | $1.1B |
| 总资产 | $442.5M | $2.5B |
| 负债/权益比越低杠杆越低 | — | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资EXPIMOD
| Q4 25 | $124.2M | $98.7M | ||
| Q3 25 | $112.8M | $83.8M | ||
| Q2 25 | $94.6M | $124.5M | ||
| Q1 25 | $115.7M | $71.6M | ||
| Q4 24 | $113.6M | $83.8M | ||
| Q3 24 | $130.4M | $78.6M | ||
| Q2 24 | $108.4M | $72.9M | ||
| Q1 24 | $109.2M | $60.1M |
总债务EXPIMOD
| Q4 25 | — | $570.7M | ||
| Q3 25 | — | $525.8M | ||
| Q2 25 | — | $482.1M | ||
| Q1 25 | — | $296.7M | ||
| Q4 24 | — | $330.0M | ||
| Q3 24 | — | $359.1M | ||
| Q2 24 | — | $405.7M | ||
| Q1 24 | — | $399.9M |
股东权益EXPIMOD
| Q4 25 | $242.8M | $1.1B | ||
| Q3 25 | $235.3M | $1.1B | ||
| Q2 25 | $218.4M | $1.0B | ||
| Q1 25 | $212.0M | $910.2M | ||
| Q4 24 | $204.9M | $855.1M | ||
| Q3 24 | $211.1M | $858.8M | ||
| Q2 24 | $220.3M | $788.4M | ||
| Q1 24 | $222.4M | $747.6M |
总资产EXPIMOD
| Q4 25 | $442.5M | $2.5B | ||
| Q3 25 | $458.7M | $2.4B | ||
| Q2 25 | $481.2M | $2.2B | ||
| Q1 25 | $435.8M | $1.9B | ||
| Q4 24 | $390.7M | $1.8B | ||
| Q3 24 | $432.6M | $1.9B | ||
| Q2 24 | $457.4M | $1.9B | ||
| Q1 24 | $426.7M | $1.9B |
负债/权益比EXPIMOD
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | 0.50× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | — | 0.51× | ||
| Q1 24 | — | 0.53× |
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 | $24.7M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $-17.1M |
| 自由现金流率自由现金流/营收 | 1.0% | -2.1% |
| 资本支出强度资本支出/营收 | 0.2% | 5.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $109.0M | $-20.3M |
8季度趋势，按日历期对齐
经营现金流EXPIMOD
| Q4 25 | $13.8M | $24.7M | ||
| Q3 25 | $28.9M | $1.4M | ||
| Q2 25 | $36.1M | $27.7M | ||
| Q1 25 | $39.8M | $54.8M | ||
| Q4 24 | $13.7M | $60.7M | ||
| Q3 24 | $46.0M | $57.3M | ||
| Q2 24 | $71.1M | $40.5M | ||
| Q1 24 | $60.7M | $39.6M |
自由现金流EXPIMOD
| Q4 25 | $11.9M | $-17.1M | ||
| Q3 25 | $26.6M | $-30.5M | ||
| Q2 25 | $33.3M | $200.0K | ||
| Q1 25 | $37.3M | $27.1M | ||
| Q4 24 | $11.6M | $44.7M | ||
| Q3 24 | $44.4M | $43.8M | ||
| Q2 24 | $69.7M | $13.7M | ||
| Q1 24 | $59.3M | $-4.3M |
自由现金流率EXPIMOD
| Q4 25 | 1.0% | -2.1% | ||
| Q3 25 | 2.0% | -4.1% | ||
| Q2 25 | 2.5% | 0.0% | ||
| Q1 25 | 3.9% | 4.2% | ||
| Q4 24 | 1.1% | 7.2% | ||
| Q3 24 | 3.6% | 6.7% | ||
| Q2 24 | 5.4% | 2.1% | ||
| Q1 24 | 6.3% | -0.7% |
资本支出强度EXPIMOD
| Q4 25 | 0.2% | 5.2% | ||
| Q3 25 | 0.2% | 4.3% | ||
| Q2 25 | 0.2% | 4.0% | ||
| Q1 25 | 0.3% | 4.3% | ||
| Q4 24 | 0.2% | 2.6% | ||
| Q3 24 | 0.1% | 2.1% | ||
| Q2 24 | 0.1% | 4.1% | ||
| Q1 24 | 0.1% | 7.3% |
现金转化率EXPIMOD
| Q4 25 | — | — | ||
| Q3 25 | 8.26× | 0.03× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | 1.24× | ||
| Q2 24 | 5.75× | 0.86× | ||
| Q1 24 | — | 1.53× |
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% |
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
