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eXp World Holdings, Inc.（EXPI）与Primoris Services Corp（PRIM）财务数据对比。点击上方公司名可切换其他公司
Primoris Services Corp的季度营收约是eXp World Holdings, Inc.的1.6倍（$1.9B vs $1.2B），Primoris Services Corp净利率更高（2.8% vs -1.1%，领先3.9%），eXp World Holdings, Inc.同比增速更快（8.5% vs 6.7%），Primoris Services Corp自由现金流更多（$121.1M vs $11.9M），过去两年Primoris Services Corp的营收复合增速更高（14.7% 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。
Primoris Services Corp是总部位于美国的上市专业基建与工程建设企业，核心业务覆盖天然气管道、污水管网及供水管道建设领域，2014年入选《财富》1000强榜单，在北美能源及民生基建领域拥有丰富的项目运营经验。
EXPI vs PRIM — 直观对比
营收规模更大
PRIM
是对方的1.6倍
$1.2B
营收增速更快
EXPI
高出1.9%
6.7%
净利率更高
PRIM
高出3.9%
-1.1%
自由现金流更多
PRIM
多$109.2M
$11.9M
两年增速更快
PRIM
近两年复合增速
12.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.9B |
| 净利润 | $-12.9M | $51.7M |
| 毛利率 | — | 9.4% |
| 营业利润率 | -1.1% | 4.2% |
| 净利率 | -1.1% | 2.8% |
| 营收同比 | 8.5% | 6.7% |
| 净利润同比 | -35.7% | -4.2% |
| 每股收益（稀释后） | $-0.08 | $0.94 |
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EXPIPRIM
| Q4 25 | $1.2B | $1.9B | ||
| Q3 25 | $1.3B | $2.2B | ||
| Q2 25 | $1.3B | $1.9B | ||
| Q1 25 | $954.9M | $1.6B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.2B | $1.6B | ||
| Q2 24 | $1.3B | $1.6B | ||
| Q1 24 | $943.1M | $1.4B |
净利润EXPIPRIM
| Q4 25 | $-12.9M | $51.7M | ||
| Q3 25 | $3.5M | $94.6M | ||
| Q2 25 | $-2.3M | $84.3M | ||
| Q1 25 | $-11.0M | $44.2M | ||
| Q4 24 | $-9.5M | $54.0M | ||
| Q3 24 | $-8.5M | $58.4M | ||
| Q2 24 | $12.4M | $49.5M | ||
| Q1 24 | $-15.6M | $18.9M |
毛利率EXPIPRIM
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | — | 10.4% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | 99.9% | 12.0% | ||
| Q2 24 | 99.9% | 11.9% | ||
| Q1 24 | — | 9.4% |
营业利润率EXPIPRIM
| Q4 25 | -1.1% | 4.2% | ||
| Q3 25 | 0.3% | 6.3% | ||
| Q2 25 | -0.2% | 6.7% | ||
| Q1 25 | -1.1% | 4.3% | ||
| Q4 24 | -1.0% | 5.0% | ||
| Q3 24 | -0.7% | 6.0% | ||
| Q2 24 | 1.4% | 5.5% | ||
| Q1 24 | -1.9% | 3.1% |
净利率EXPIPRIM
| Q4 25 | -1.1% | 2.8% | ||
| Q3 25 | 0.3% | 4.3% | ||
| Q2 25 | -0.2% | 4.5% | ||
| Q1 25 | -1.2% | 2.7% | ||
| Q4 24 | -0.9% | 3.1% | ||
| Q3 24 | -0.7% | 3.5% | ||
| Q2 24 | 1.0% | 3.2% | ||
| Q1 24 | -1.7% | 1.3% |
每股收益（稀释后）EXPIPRIM
| Q4 25 | $-0.08 | $0.94 | ||
| Q3 25 | $0.02 | $1.73 | ||
| Q2 25 | $-0.01 | $1.54 | ||
| Q1 25 | $-0.07 | $0.81 | ||
| Q4 24 | $-0.06 | $0.98 | ||
| Q3 24 | $-0.06 | $1.07 | ||
| Q2 24 | $0.08 | $0.91 | ||
| Q1 24 | $-0.10 | $0.35 |
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 | $535.5M |
| 总债务越低越好 | — | $469.9M |
| 股东权益账面价值 | $242.8M | $1.7B |
| 总资产 | $442.5M | $4.4B |
| 负债/权益比越低杠杆越低 | — | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资EXPIPRIM
| Q4 25 | $124.2M | $535.5M | ||
| Q3 25 | $112.8M | $431.4M | ||
| Q2 25 | $94.6M | $390.3M | ||
| Q1 25 | $115.7M | $351.6M | ||
| Q4 24 | $113.6M | $455.8M | ||
| Q3 24 | $130.4M | $352.7M | ||
| Q2 24 | $108.4M | $207.4M | ||
| Q1 24 | $109.2M | $177.6M |
总债务EXPIPRIM
| Q4 25 | — | $469.9M | ||
| Q3 25 | — | $486.0M | ||
| Q2 25 | — | $603.1M | ||
| Q1 25 | — | $612.0M | ||
| Q4 24 | — | $734.8M | ||
| Q3 24 | — | $903.7M | ||
| Q2 24 | — | $933.0M | ||
| Q1 24 | — | $951.7M |
股东权益EXPIPRIM
| Q4 25 | $242.8M | $1.7B | ||
| Q3 25 | $235.3M | $1.6B | ||
| Q2 25 | $218.4M | $1.5B | ||
| Q1 25 | $212.0M | $1.4B | ||
| Q4 24 | $204.9M | $1.4B | ||
| Q3 24 | $211.1M | $1.4B | ||
| Q2 24 | $220.3M | $1.3B | ||
| Q1 24 | $222.4M | $1.2B |
总资产EXPIPRIM
| Q4 25 | $442.5M | $4.4B | ||
| Q3 25 | $458.7M | $4.6B | ||
| Q2 25 | $481.2M | $4.5B | ||
| Q1 25 | $435.8M | $4.2B | ||
| Q4 24 | $390.7M | $4.2B | ||
| Q3 24 | $432.6M | $4.2B | ||
| Q2 24 | $457.4M | $4.0B | ||
| Q1 24 | $426.7M | $4.0B |
负债/权益比EXPIPRIM
| Q4 25 | — | 0.28× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.39× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | — | 0.76× |
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 | $142.9M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $121.1M |
| 自由现金流率自由现金流/营收 | 1.0% | 6.5% |
| 资本支出强度资本支出/营收 | 0.2% | 1.2% |
| 现金转化率经营现金流/净利润 | — | 2.76× |
| 过去12个月自由现金流最近4个季度 | $109.0M | $340.5M |
8季度趋势，按日历期对齐
经营现金流EXPIPRIM
| Q4 25 | $13.8M | $142.9M | ||
| Q3 25 | $28.9M | $182.9M | ||
| Q2 25 | $36.1M | $78.5M | ||
| Q1 25 | $39.8M | $66.2M | ||
| Q4 24 | $13.7M | $298.3M | ||
| Q3 24 | $46.0M | $222.5M | ||
| Q2 24 | $71.1M | $16.1M | ||
| Q1 24 | $60.7M | $-28.5M |
自由现金流EXPIPRIM
| Q4 25 | $11.9M | $121.1M | ||
| Q3 25 | $26.6M | $148.4M | ||
| Q2 25 | $33.3M | $45.3M | ||
| Q1 25 | $37.3M | $25.6M | ||
| Q4 24 | $11.6M | $270.0M | ||
| Q3 24 | $44.4M | $158.8M | ||
| Q2 24 | $69.7M | $-8.1M | ||
| Q1 24 | $59.3M | $-38.9M |
自由现金流率EXPIPRIM
| Q4 25 | 1.0% | 6.5% | ||
| Q3 25 | 2.0% | 6.8% | ||
| Q2 25 | 2.5% | 2.4% | ||
| Q1 25 | 3.9% | 1.6% | ||
| Q4 24 | 1.1% | 15.5% | ||
| Q3 24 | 3.6% | 9.6% | ||
| Q2 24 | 5.4% | -0.5% | ||
| Q1 24 | 6.3% | -2.8% |
资本支出强度EXPIPRIM
| Q4 25 | 0.2% | 1.2% | ||
| Q3 25 | 0.2% | 1.6% | ||
| Q2 25 | 0.2% | 1.8% | ||
| Q1 25 | 0.3% | 2.5% | ||
| Q4 24 | 0.2% | 1.6% | ||
| Q3 24 | 0.1% | 3.9% | ||
| Q2 24 | 0.1% | 1.5% | ||
| Q1 24 | 0.1% | 0.7% |
现金转化率EXPIPRIM
| Q4 25 | — | 2.76× | ||
| Q3 25 | 8.26× | 1.93× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | — | 5.53× | ||
| Q3 24 | — | 3.81× | ||
| Q2 24 | 5.75× | 0.32× | ||
| Q1 24 | — | -1.50× |
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% |
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
