vs
eXp World Holdings, Inc.（EXPI）与Cloudflare, Inc.（NET）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Cloudflare, Inc.的1.9倍（$1.2B vs $639.8M），eXp World Holdings, Inc.净利率更高（-1.1% vs -3.6%，领先2.5%），Cloudflare, Inc.同比增速更快（33.5% vs 8.5%），Cloudflare, Inc.自由现金流更多（$84.1M vs $11.9M），过去两年Cloudflare, Inc.的营收复合增速更高（26.3% 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。
Cloudflare是总部位于美国加利福尼亚州旧金山的科技企业，提供内容分发网络（CDN）、云网络安全、DDoS防护等多元互联网服务，同时是ICANN认证的域名注册商。其服务作为网站访客与客户托管服务商之间的反向代理，可有效提升访问性能，抵御恶意流量。
EXPI vs NET — 直观对比
营收规模更大
EXPI
是对方的1.9倍
$639.8M
营收增速更快
NET
高出25.0%
8.5%
净利率更高
EXPI
高出2.5%
-3.6%
自由现金流更多
NET
多$72.2M
$11.9M
两年增速更快
NET
近两年复合增速
12.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $639.8M |
| 净利润 | $-12.9M | $-22.9M |
| 毛利率 | — | 71.2% |
| 营业利润率 | -1.1% | 19.1% |
| 净利率 | -1.1% | -3.6% |
| 营收同比 | 8.5% | 33.5% |
| 净利润同比 | -35.7% | 40.4% |
| 每股收益（稀释后） | $-0.08 | $-0.07 |
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EXPINET
| Q1 26 | — | $639.8M | ||
| Q4 25 | $1.2B | $614.5M | ||
| Q3 25 | $1.3B | $562.0M | ||
| Q2 25 | $1.3B | $512.3M | ||
| Q1 25 | $954.9M | $479.1M | ||
| Q4 24 | $1.1B | $459.9M | ||
| Q3 24 | $1.2B | $430.1M | ||
| Q2 24 | $1.3B | $401.0M |
净利润EXPINET
| Q1 26 | — | $-22.9M | ||
| Q4 25 | $-12.9M | $-12.1M | ||
| Q3 25 | $3.5M | $-1.3M | ||
| Q2 25 | $-2.3M | $-50.4M | ||
| Q1 25 | $-11.0M | $-38.5M | ||
| Q4 24 | $-9.5M | $-12.8M | ||
| Q3 24 | $-8.5M | $-15.3M | ||
| Q2 24 | $12.4M | $-15.1M |
毛利率EXPINET
| Q1 26 | — | 71.2% | ||
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 74.0% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | 99.9% | 77.7% | ||
| Q2 24 | 99.9% | 77.8% |
营业利润率EXPINET
| Q1 26 | — | 19.1% | ||
| Q4 25 | -1.1% | -8.0% | ||
| Q3 25 | 0.3% | -6.7% | ||
| Q2 25 | -0.2% | -13.1% | ||
| Q1 25 | -1.1% | -11.1% | ||
| Q4 24 | -1.0% | -7.5% | ||
| Q3 24 | -0.7% | -7.2% | ||
| Q2 24 | 1.4% | -8.7% |
净利率EXPINET
| Q1 26 | — | -3.6% | ||
| Q4 25 | -1.1% | -2.0% | ||
| Q3 25 | 0.3% | -0.2% | ||
| Q2 25 | -0.2% | -9.8% | ||
| Q1 25 | -1.2% | -8.0% | ||
| Q4 24 | -0.9% | -2.8% | ||
| Q3 24 | -0.7% | -3.6% | ||
| Q2 24 | 1.0% | -3.8% |
每股收益（稀释后）EXPINET
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $-0.08 | $-0.03 | ||
| Q3 25 | $0.02 | $0.00 | ||
| Q2 25 | $-0.01 | $-0.15 | ||
| Q1 25 | $-0.07 | $-0.11 | ||
| Q4 24 | $-0.06 | $-0.05 | ||
| Q3 24 | $-0.06 | $-0.04 | ||
| Q2 24 | $0.08 | $-0.04 |
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 | $932.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | $1.5B |
| 总资产 | $442.5M | $6.2B |
| 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EXPINET
| Q1 26 | — | $932.2M | ||
| Q4 25 | $124.2M | $943.5M | ||
| Q3 25 | $112.8M | $1.1B | ||
| Q2 25 | $94.6M | $1.5B | ||
| Q1 25 | $115.7M | $204.5M | ||
| Q4 24 | $113.6M | $147.7M | ||
| Q3 24 | $130.4M | $182.9M | ||
| Q2 24 | $108.4M | $157.0M |
股东权益EXPINET
| Q1 26 | — | $1.5B | ||
| Q4 25 | $242.8M | $1.5B | ||
| Q3 25 | $235.3M | $1.3B | ||
| Q2 25 | $218.4M | $1.2B | ||
| Q1 25 | $212.0M | $1.4B | ||
| Q4 24 | $204.9M | $1.0B | ||
| Q3 24 | $211.1M | $973.1M | ||
| Q2 24 | $220.3M | $881.5M |
总资产EXPINET
| Q1 26 | — | $6.2B | ||
| Q4 25 | $442.5M | $6.0B | ||
| Q3 25 | $458.7M | $5.8B | ||
| Q2 25 | $481.2M | $5.6B | ||
| Q1 25 | $435.8M | $3.7B | ||
| Q4 24 | $390.7M | $3.3B | ||
| Q3 24 | $432.6M | $3.1B | ||
| Q2 24 | $457.4M | $2.9B |
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 | $158.3M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $84.1M |
| 自由现金流率自由现金流/营收 | 1.0% | 13.1% |
| 资本支出强度资本支出/营收 | 0.2% | — |
| 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 | $311.7M |
8季度趋势，按日历期对齐
经营现金流EXPINET
| Q1 26 | — | $158.3M | ||
| Q4 25 | $13.8M | $190.4M | ||
| Q3 25 | $28.9M | $167.1M | ||
| Q2 25 | $36.1M | $99.8M | ||
| Q1 25 | $39.8M | $145.8M | ||
| Q4 24 | $13.7M | $127.3M | ||
| Q3 24 | $46.0M | $104.7M | ||
| Q2 24 | $71.1M | $74.8M |
自由现金流EXPINET
| Q1 26 | — | $84.1M | ||
| Q4 25 | $11.9M | $105.2M | ||
| Q3 25 | $26.6M | $82.5M | ||
| Q2 25 | $33.3M | $39.9M | ||
| Q1 25 | $37.3M | $59.9M | ||
| Q4 24 | $11.6M | $54.2M | ||
| Q3 24 | $44.4M | $54.5M | ||
| Q2 24 | $69.7M | $45.2M |
自由现金流率EXPINET
| Q1 26 | — | 13.1% | ||
| Q4 25 | 1.0% | 17.1% | ||
| Q3 25 | 2.0% | 14.7% | ||
| Q2 25 | 2.5% | 7.8% | ||
| Q1 25 | 3.9% | 12.5% | ||
| Q4 24 | 1.1% | 11.8% | ||
| Q3 24 | 3.6% | 12.7% | ||
| Q2 24 | 5.4% | 11.3% |
资本支出强度EXPINET
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 13.9% | ||
| Q3 25 | 0.2% | 15.1% | ||
| Q2 25 | 0.2% | 11.7% | ||
| Q1 25 | 0.3% | 17.9% | ||
| Q4 24 | 0.2% | 15.9% | ||
| Q3 24 | 0.1% | 11.7% | ||
| Q2 24 | 0.1% | 7.4% |
现金转化率EXPINET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.26× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.75× | — |
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% |
NET
暂无分部数据
