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eXp World Holdings, Inc.（EXPI）与Ryman Hospitality Properties, Inc.（RHP）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Ryman Hospitality Properties, Inc.的1.8倍（$1.2B vs $664.6M），Ryman Hospitality Properties, Inc.净利率更高（10.4% vs -1.1%，领先11.5%），Ryman Hospitality Properties, Inc.同比增速更快（13.2% vs 8.5%），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs 4.1%）
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。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
EXPI vs RHP — 直观对比
营收规模更大
EXPI
是对方的1.8倍
$664.6M
营收增速更快
RHP
高出4.6%
8.5%
净利率更高
RHP
高出11.5%
-1.1%
两年增速更快
EXPI
近两年复合增速
4.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $664.6M |
| 净利润 | $-12.9M | $69.4M |
| 毛利率 | — | — |
| 营业利润率 | -1.1% | 20.7% |
| 净利率 | -1.1% | 10.4% |
| 营收同比 | 8.5% | 13.2% |
| 净利润同比 | -35.7% | 10.1% |
| 每股收益（稀释后） | $-0.08 | $1.03 |
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EXPIRHP
| Q1 26 | — | $664.6M | ||
| Q4 25 | $1.2B | $737.8M | ||
| Q3 25 | $1.3B | $592.5M | ||
| Q2 25 | $1.3B | $659.5M | ||
| Q1 25 | $954.9M | $587.3M | ||
| Q4 24 | $1.1B | $647.6M | ||
| Q3 24 | $1.2B | $550.0M | ||
| Q2 24 | $1.3B | $613.3M |
净利润EXPIRHP
| Q1 26 | — | $69.4M | ||
| Q4 25 | $-12.9M | $74.5M | ||
| Q3 25 | $3.5M | $34.9M | ||
| Q2 25 | $-2.3M | $71.8M | ||
| Q1 25 | $-11.0M | $63.0M | ||
| Q4 24 | $-9.5M | $72.3M | ||
| Q3 24 | $-8.5M | $59.0M | ||
| Q2 24 | $12.4M | $100.8M |
毛利率EXPIRHP
| Q1 26 | — | — | ||
| Q4 25 | — | 41.4% | ||
| Q3 25 | — | 40.9% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 44.4% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | 99.9% | 43.1% | ||
| Q2 24 | 99.9% | 48.4% |
营业利润率EXPIRHP
| Q1 26 | — | 20.7% | ||
| Q4 25 | -1.1% | 19.4% | ||
| Q3 25 | 0.3% | 15.0% | ||
| Q2 25 | -0.2% | 21.1% | ||
| Q1 25 | -1.1% | 19.8% | ||
| Q4 24 | -1.0% | 18.6% | ||
| Q3 24 | -0.7% | 19.3% | ||
| Q2 24 | 1.4% | 27.4% |
净利率EXPIRHP
| Q1 26 | — | 10.4% | ||
| Q4 25 | -1.1% | 10.1% | ||
| Q3 25 | 0.3% | 5.9% | ||
| Q2 25 | -0.2% | 10.9% | ||
| Q1 25 | -1.2% | 10.7% | ||
| Q4 24 | -0.9% | 11.2% | ||
| Q3 24 | -0.7% | 10.7% | ||
| Q2 24 | 1.0% | 16.4% |
每股收益（稀释后）EXPIRHP
| Q1 26 | — | $1.03 | ||
| Q4 25 | $-0.08 | $1.12 | ||
| Q3 25 | $0.02 | $0.53 | ||
| Q2 25 | $-0.01 | $1.12 | ||
| Q1 25 | $-0.07 | $1.00 | ||
| Q4 24 | $-0.06 | $1.12 | ||
| Q3 24 | $-0.06 | $0.94 | ||
| Q2 24 | $0.08 | $1.65 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | $770.8M |
| 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EXPIRHP
| Q1 26 | — | — | ||
| Q4 25 | $124.2M | $471.4M | ||
| Q3 25 | $112.8M | $483.3M | ||
| Q2 25 | $94.6M | $420.6M | ||
| Q1 25 | $115.7M | $413.9M | ||
| Q4 24 | $113.6M | $477.7M | ||
| Q3 24 | $130.4M | $534.9M | ||
| Q2 24 | $108.4M | $498.4M |
股东权益EXPIRHP
| Q1 26 | — | $770.8M | ||
| Q4 25 | $242.8M | $750.2M | ||
| Q3 25 | $235.3M | $758.5M | ||
| Q2 25 | $218.4M | $800.4M | ||
| Q1 25 | $212.0M | $531.5M | ||
| Q4 24 | $204.9M | $549.0M | ||
| Q3 24 | $211.1M | $551.9M | ||
| Q2 24 | $220.3M | $562.6M |
总资产EXPIRHP
| Q1 26 | — | $6.2B | ||
| Q4 25 | $442.5M | $6.2B | ||
| Q3 25 | $458.7M | $6.2B | ||
| Q2 25 | $481.2M | $6.1B | ||
| Q1 25 | $435.8M | $5.2B | ||
| Q4 24 | $390.7M | $5.2B | ||
| Q3 24 | $432.6M | $5.2B | ||
| Q2 24 | $457.4M | $5.1B |
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EXPIRHP
| Q1 26 | — | — | ||
| Q4 25 | $13.8M | $164.7M | ||
| Q3 25 | $28.9M | $205.2M | ||
| Q2 25 | $36.1M | $122.5M | ||
| Q1 25 | $39.8M | $98.2M | ||
| Q4 24 | $13.7M | $166.6M | ||
| Q3 24 | $46.0M | $218.1M | ||
| Q2 24 | $71.1M | $184.3M |
自由现金流EXPIRHP
| Q1 26 | — | — | ||
| Q4 25 | $11.9M | $58.5M | ||
| Q3 25 | $26.6M | $135.4M | ||
| Q2 25 | $33.3M | $53.0M | ||
| Q1 25 | $37.3M | $-14.5M | ||
| Q4 24 | $11.6M | $76.0M | ||
| Q3 24 | $44.4M | $85.7M | ||
| Q2 24 | $69.7M | $78.8M |
自由现金流率EXPIRHP
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 7.9% | ||
| Q3 25 | 2.0% | 22.9% | ||
| Q2 25 | 2.5% | 8.0% | ||
| Q1 25 | 3.9% | -2.5% | ||
| Q4 24 | 1.1% | 11.7% | ||
| Q3 24 | 3.6% | 15.6% | ||
| Q2 24 | 5.4% | 12.9% |
资本支出强度EXPIRHP
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 14.4% | ||
| Q3 25 | 0.2% | 11.8% | ||
| Q2 25 | 0.2% | 10.5% | ||
| Q1 25 | 0.3% | 19.2% | ||
| Q4 24 | 0.2% | 14.0% | ||
| Q3 24 | 0.1% | 24.1% | ||
| Q2 24 | 0.1% | 17.2% |
现金转化率EXPIRHP
| Q1 26 | — | — | ||
| Q4 25 | — | 2.21× | ||
| Q3 25 | 8.26× | 5.88× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 2.30× | ||
| Q3 24 | — | 3.70× | ||
| Q2 24 | 5.75× | 1.83× |
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% |
RHP
| Food and beverage | $289.3M | 44% |
| Rooms | $223.8M | 34% |
| Entertainment | $79.2M | 12% |
| Other | $72.3M | 11% |
