vs
eXp World Holdings, Inc.（EXPI）与北极星（PII）财务数据对比。点击上方公司名可切换其他公司
北极星的季度营收约是eXp World Holdings, Inc.的1.4倍（$1.7B vs $1.2B），eXp World Holdings, Inc.净利率更高（-1.1% vs -2.8%，领先1.8%），eXp World Holdings, Inc.同比增速更快（8.5% vs 8.0%），eXp World Holdings, Inc.自由现金流更多（$11.9M vs $-342.5M），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs -8.0%）
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。
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
EXPI vs PII — 直观对比
营收规模更大
PII
是对方的1.4倍
$1.2B
营收增速更快
EXPI
高出0.5%
8.0%
净利率更高
EXPI
高出1.8%
-2.8%
自由现金流更多
EXPI
多$354.4M
$-342.5M
两年增速更快
EXPI
近两年复合增速
-8.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.7B |
| 净利润 | $-12.9M | $-47.2M |
| 毛利率 | — | 20.2% |
| 营业利润率 | -1.1% | 76.5% |
| 净利率 | -1.1% | -2.8% |
| 营收同比 | 8.5% | 8.0% |
| 净利润同比 | -35.7% | 29.0% |
| 每股收益（稀释后） | $-0.08 | $-0.83 |
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EXPIPII
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.2B | $1.9B | ||
| Q3 25 | $1.3B | $1.8B | ||
| Q2 25 | $1.3B | $1.9B | ||
| Q1 25 | $954.9M | $1.5B | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $1.2B | $1.7B | ||
| Q2 24 | $1.3B | $2.0B |
净利润EXPIPII
| Q1 26 | — | $-47.2M | ||
| Q4 25 | $-12.9M | $-303.6M | ||
| Q3 25 | $3.5M | $-15.8M | ||
| Q2 25 | $-2.3M | $-79.3M | ||
| Q1 25 | $-11.0M | $-66.8M | ||
| Q4 24 | $-9.5M | $10.6M | ||
| Q3 24 | $-8.5M | $27.7M | ||
| Q2 24 | $12.4M | $68.7M |
毛利率EXPIPII
| Q1 26 | — | 20.2% | ||
| Q4 25 | — | 20.0% | ||
| Q3 25 | — | 20.7% | ||
| Q2 25 | — | 19.4% | ||
| Q1 25 | — | 16.0% | ||
| Q4 24 | — | 20.4% | ||
| Q3 24 | 99.9% | 20.6% | ||
| Q2 24 | 99.9% | 21.6% |
营业利润率EXPIPII
| Q1 26 | — | 76.5% | ||
| Q4 25 | -1.1% | -16.7% | ||
| Q3 25 | 0.3% | 1.1% | ||
| Q2 25 | -0.2% | -0.7% | ||
| Q1 25 | -1.1% | -2.4% | ||
| Q4 24 | -1.0% | 3.7% | ||
| Q3 24 | -0.7% | 3.8% | ||
| Q2 24 | 1.4% | 6.1% |
净利率EXPIPII
| Q1 26 | — | -2.8% | ||
| Q4 25 | -1.1% | -15.8% | ||
| Q3 25 | 0.3% | -0.9% | ||
| Q2 25 | -0.2% | -4.3% | ||
| Q1 25 | -1.2% | -4.3% | ||
| Q4 24 | -0.9% | 0.6% | ||
| Q3 24 | -0.7% | 1.6% | ||
| Q2 24 | 1.0% | 3.5% |
每股收益（稀释后）EXPIPII
| Q1 26 | — | $-0.83 | ||
| Q4 25 | $-0.08 | $-5.34 | ||
| Q3 25 | $0.02 | $-0.28 | ||
| Q2 25 | $-0.01 | $-1.39 | ||
| Q1 25 | $-0.07 | $-1.17 | ||
| Q4 24 | $-0.06 | $0.18 | ||
| Q3 24 | $-0.06 | $0.49 | ||
| Q2 24 | $0.08 | $1.21 |
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 | $282.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | $750.4M |
| 总资产 | $442.5M | $5.2B |
| 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EXPIPII
| Q1 26 | — | $282.0M | ||
| Q4 25 | $124.2M | $138.0M | ||
| Q3 25 | $112.8M | $335.5M | ||
| Q2 25 | $94.6M | $324.3M | ||
| Q1 25 | $115.7M | $291.7M | ||
| Q4 24 | $113.6M | $287.8M | ||
| Q3 24 | $130.4M | $291.3M | ||
| Q2 24 | $108.4M | $322.7M |
总债务EXPIPII
| Q1 26 | — | — | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $2.1B |
股东权益EXPIPII
| Q1 26 | — | $750.4M | ||
| Q4 25 | $242.8M | $828.4M | ||
| Q3 25 | $235.3M | $1.1B | ||
| Q2 25 | $218.4M | $1.2B | ||
| Q1 25 | $212.0M | $1.2B | ||
| Q4 24 | $204.9M | $1.3B | ||
| Q3 24 | $211.1M | $1.3B | ||
| Q2 24 | $220.3M | $1.3B |
总资产EXPIPII
| Q1 26 | — | $5.2B | ||
| Q4 25 | $442.5M | $4.9B | ||
| Q3 25 | $458.7M | $5.3B | ||
| Q2 25 | $481.2M | $5.4B | ||
| Q1 25 | $435.8M | $5.5B | ||
| Q4 24 | $390.7M | $5.5B | ||
| Q3 24 | $432.6M | $5.6B | ||
| Q2 24 | $457.4M | $5.7B |
负债/权益比EXPIPII
| Q1 26 | — | — | ||
| Q4 25 | — | 1.82× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.56× |
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 | $-342.5M |
| 自由现金流率自由现金流/营收 | 1.0% | -20.6% |
| 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 | $168.0M |
8季度趋势，按日历期对齐
经营现金流EXPIPII
| Q1 26 | — | — | ||
| Q4 25 | $13.8M | $178.7M | ||
| Q3 25 | $28.9M | $158.8M | ||
| Q2 25 | $36.1M | $320.3M | ||
| Q1 25 | $39.8M | $83.2M | ||
| Q4 24 | $13.7M | $206.3M | ||
| Q3 24 | $46.0M | $21.0M | ||
| Q2 24 | $71.1M | $146.3M |
自由现金流EXPIPII
| Q1 26 | — | $-342.5M | ||
| Q4 25 | $11.9M | $114.0M | ||
| Q3 25 | $26.6M | $116.7M | ||
| Q2 25 | $33.3M | $279.8M | ||
| Q1 25 | $37.3M | $47.6M | ||
| Q4 24 | $11.6M | $137.3M | ||
| Q3 24 | $44.4M | $-32.4M | ||
| Q2 24 | $69.7M | $79.1M |
自由现金流率EXPIPII
| Q1 26 | — | -20.6% | ||
| Q4 25 | 1.0% | 5.9% | ||
| Q3 25 | 2.0% | 6.3% | ||
| Q2 25 | 2.5% | 15.1% | ||
| Q1 25 | 3.9% | 3.1% | ||
| Q4 24 | 1.1% | 7.8% | ||
| Q3 24 | 3.6% | -1.9% | ||
| Q2 24 | 5.4% | 4.0% |
资本支出强度EXPIPII
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 3.4% | ||
| Q3 25 | 0.2% | 2.3% | ||
| Q2 25 | 0.2% | 2.2% | ||
| Q1 25 | 0.3% | 2.3% | ||
| Q4 24 | 0.2% | 3.9% | ||
| Q3 24 | 0.1% | 3.1% | ||
| Q2 24 | 0.1% | 3.4% |
现金转化率EXPIPII
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.26× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 19.46× | ||
| Q3 24 | — | 0.76× | ||
| Q2 24 | 5.75× | 2.13× |
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% |
PII
暂无分部数据
