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eXp World Holdings, Inc.（EXPI）与NVR, Inc.（NVR）财务数据对比。点击上方公司名可切换其他公司
NVR, Inc.的季度营收约是eXp World Holdings, Inc.的1.5倍（$1.8B vs $1.2B），NVR, Inc.净利率更高（10.8% vs -1.1%，领先11.9%），eXp World Holdings, Inc.同比增速更快（8.5% vs -21.9%），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs -16.2%）
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。
NVR, Inc.是总部位于美国弗吉尼亚州雷斯顿的知名住宅建造企业，同时运营抵押贷款银行及产权服务相关业务。公司业务主要布局美国东海岸，覆盖14个州及华盛顿特区，2021年有22%的营收来自华盛顿大都会区。
EXPI vs NVR — 直观对比
营收规模更大
NVR
是对方的1.5倍
$1.2B
营收增速更快
EXPI
高出30.5%
-21.9%
净利率更高
NVR
高出11.9%
-1.1%
两年增速更快
EXPI
近两年复合增速
-16.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.8B |
| 净利润 | $-12.9M | $198.4M |
| 毛利率 | — | 180.4% |
| 营业利润率 | -1.1% | — |
| 净利率 | -1.1% | 10.8% |
| 营收同比 | 8.5% | -21.9% |
| 净利润同比 | -35.7% | — |
| 每股收益（稀释后） | $-0.08 | $67.76 |
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EXPINVR
| Q1 26 | — | $1.8B | ||
| Q4 25 | $1.2B | $2.7B | ||
| Q3 25 | $1.3B | $2.6B | ||
| Q2 25 | $1.3B | $2.6B | ||
| Q1 25 | $954.9M | $2.4B | ||
| Q4 24 | $1.1B | $2.8B | ||
| Q3 24 | $1.2B | $2.7B | ||
| Q2 24 | $1.3B | $2.6B |
净利润EXPINVR
| Q1 26 | — | $198.4M | ||
| Q4 25 | $-12.9M | $363.8M | ||
| Q3 25 | $3.5M | $342.7M | ||
| Q2 25 | $-2.3M | $333.7M | ||
| Q1 25 | $-11.0M | $299.6M | ||
| Q4 24 | $-9.5M | $457.4M | ||
| Q3 24 | $-8.5M | $429.3M | ||
| Q2 24 | $12.4M | $400.9M |
毛利率EXPINVR
| Q1 26 | — | 180.4% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 99.9% | — | ||
| Q2 24 | 99.9% | — |
营业利润率EXPINVR
| Q1 26 | — | — | ||
| Q4 25 | -1.1% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | -0.2% | — | ||
| Q1 25 | -1.1% | — | ||
| Q4 24 | -1.0% | — | ||
| Q3 24 | -0.7% | — | ||
| Q2 24 | 1.4% | — |
净利率EXPINVR
| Q1 26 | — | 10.8% | ||
| Q4 25 | -1.1% | 13.4% | ||
| Q3 25 | 0.3% | 13.1% | ||
| Q2 25 | -0.2% | 12.8% | ||
| Q1 25 | -1.2% | 12.5% | ||
| Q4 24 | -0.9% | 16.1% | ||
| Q3 24 | -0.7% | 15.7% | ||
| Q2 24 | 1.0% | 15.3% |
每股收益（稀释后）EXPINVR
| Q1 26 | — | $67.76 | ||
| Q4 25 | $-0.08 | $120.85 | ||
| Q3 25 | $0.02 | $112.33 | ||
| Q2 25 | $-0.01 | $108.54 | ||
| Q1 25 | $-0.07 | $94.83 | ||
| Q4 24 | $-0.06 | $139.09 | ||
| Q3 24 | $-0.06 | $130.50 | ||
| Q2 24 | $0.08 | $120.69 |
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 | $1.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | $3.5B |
| 总资产 | $442.5M | $5.6B |
| 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EXPINVR
| Q1 26 | — | $1.6B | ||
| Q4 25 | $124.2M | — | ||
| Q3 25 | $112.8M | — | ||
| Q2 25 | $94.6M | — | ||
| Q1 25 | $115.7M | — | ||
| Q4 24 | $113.6M | — | ||
| Q3 24 | $130.4M | — | ||
| Q2 24 | $108.4M | — |
股东权益EXPINVR
| Q1 26 | — | $3.5B | ||
| Q4 25 | $242.8M | $3.9B | ||
| Q3 25 | $235.3M | $4.0B | ||
| Q2 25 | $218.4M | $3.8B | ||
| Q1 25 | $212.0M | $4.0B | ||
| Q4 24 | $204.9M | $4.2B | ||
| Q3 24 | $211.1M | $4.3B | ||
| Q2 24 | $220.3M | $4.1B |
总资产EXPINVR
| Q1 26 | — | $5.6B | ||
| Q4 25 | $442.5M | $5.9B | ||
| Q3 25 | $458.7M | $6.0B | ||
| Q2 25 | $481.2M | $5.9B | ||
| Q1 25 | $435.8M | $6.2B | ||
| Q4 24 | $390.7M | $6.4B | ||
| Q3 24 | $432.6M | $6.5B | ||
| Q2 24 | $457.4M | $6.4B |
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 | — |
| 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% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流EXPINVR
| Q1 26 | — | — | ||
| Q4 25 | $13.8M | $439.7M | ||
| Q3 25 | $28.9M | $438.7M | ||
| Q2 25 | $36.1M | $35.1M | ||
| Q1 25 | $39.8M | $207.8M | ||
| Q4 24 | $13.7M | $637.0M | ||
| Q3 24 | $46.0M | $358.3M | ||
| Q2 24 | $71.1M | $232.7M |
自由现金流EXPINVR
| Q1 26 | — | — | ||
| Q4 25 | $11.9M | $436.0M | ||
| Q3 25 | $26.6M | $433.3M | ||
| Q2 25 | $33.3M | $26.8M | ||
| Q1 25 | $37.3M | $200.7M | ||
| Q4 24 | $11.6M | $631.5M | ||
| Q3 24 | $44.4M | $350.1M | ||
| Q2 24 | $69.7M | $226.3M |
自由现金流率EXPINVR
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 16.1% | ||
| Q3 25 | 2.0% | 16.6% | ||
| Q2 25 | 2.5% | 1.0% | ||
| Q1 25 | 3.9% | 8.4% | ||
| Q4 24 | 1.1% | 22.2% | ||
| Q3 24 | 3.6% | 12.8% | ||
| Q2 24 | 5.4% | 8.7% |
资本支出强度EXPINVR
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 0.1% | ||
| Q3 25 | 0.2% | 0.2% | ||
| Q2 25 | 0.2% | 0.3% | ||
| Q1 25 | 0.3% | 0.3% | ||
| Q4 24 | 0.2% | 0.2% | ||
| Q3 24 | 0.1% | 0.3% | ||
| Q2 24 | 0.1% | 0.2% |
现金转化率EXPINVR
| Q1 26 | — | — | ||
| Q4 25 | — | 1.21× | ||
| Q3 25 | 8.26× | 1.28× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 1.39× | ||
| Q3 24 | — | 0.83× | ||
| Q2 24 | 5.75× | 0.58× |
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% |
NVR
暂无分部数据
