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eXp World Holdings, Inc.（EXPI）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
瑞思迈的季度营收约是eXp World Holdings, Inc.的1.2倍（$1.4B vs $1.2B），瑞思迈净利率更高（27.6% vs -1.1%，领先28.7%），瑞思迈同比增速更快（11.0% vs 8.5%），瑞思迈自由现金流更多（$311.2M vs $11.9M），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs 9.0%）
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。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
EXPI vs RMD — 直观对比
营收规模更大
RMD
是对方的1.2倍
$1.2B
营收增速更快
RMD
高出2.4%
8.5%
净利率更高
RMD
高出28.7%
-1.1%
自由现金流更多
RMD
多$299.3M
$11.9M
两年增速更快
EXPI
近两年复合增速
9.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.4B |
| 净利润 | $-12.9M | $392.6M |
| 毛利率 | — | 61.8% |
| 营业利润率 | -1.1% | 34.6% |
| 净利率 | -1.1% | 27.6% |
| 营收同比 | 8.5% | 11.0% |
| 净利润同比 | -35.7% | 13.9% |
| 每股收益（稀释后） | $-0.08 | $2.68 |
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EXPIRMD
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $954.9M | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $943.1M | $1.2B |
净利润EXPIRMD
| Q4 25 | $-12.9M | $392.6M | ||
| Q3 25 | $3.5M | $348.5M | ||
| Q2 25 | $-2.3M | $379.7M | ||
| Q1 25 | $-11.0M | $365.0M | ||
| Q4 24 | $-9.5M | $344.6M | ||
| Q3 24 | $-8.5M | $311.4M | ||
| Q2 24 | $12.4M | $292.2M | ||
| Q1 24 | $-15.6M | $300.5M |
毛利率EXPIRMD
| Q4 25 | — | 61.8% | ||
| Q3 25 | — | 61.5% | ||
| Q2 25 | — | 60.8% | ||
| Q1 25 | — | 59.3% | ||
| Q4 24 | — | 58.6% | ||
| Q3 24 | 99.9% | 58.6% | ||
| Q2 24 | 99.9% | 58.5% | ||
| Q1 24 | — | 57.9% |
营业利润率EXPIRMD
| Q4 25 | -1.1% | 34.6% | ||
| Q3 25 | 0.3% | 33.4% | ||
| Q2 25 | -0.2% | 33.7% | ||
| Q1 25 | -1.1% | 33.0% | ||
| Q4 24 | -1.0% | 32.5% | ||
| Q3 24 | -0.7% | 31.6% | ||
| Q2 24 | 1.4% | 31.2% | ||
| Q1 24 | -1.9% | 31.3% |
净利率EXPIRMD
| Q4 25 | -1.1% | 27.6% | ||
| Q3 25 | 0.3% | 26.1% | ||
| Q2 25 | -0.2% | 28.2% | ||
| Q1 25 | -1.2% | 28.3% | ||
| Q4 24 | -0.9% | 26.9% | ||
| Q3 24 | -0.7% | 25.4% | ||
| Q2 24 | 1.0% | 23.9% | ||
| Q1 24 | -1.7% | 25.1% |
每股收益（稀释后）EXPIRMD
| Q4 25 | $-0.08 | $2.68 | ||
| Q3 25 | $0.02 | $2.37 | ||
| Q2 25 | $-0.01 | $2.58 | ||
| Q1 25 | $-0.07 | $2.48 | ||
| Q4 24 | $-0.06 | $2.34 | ||
| Q3 24 | $-0.06 | $2.11 | ||
| Q2 24 | $0.08 | $1.97 | ||
| Q1 24 | $-0.10 | $2.04 |
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 | $1.4B |
| 总债务越低越好 | — | $403.9M |
| 股东权益账面价值 | $242.8M | $6.3B |
| 总资产 | $442.5M | $8.5B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资EXPIRMD
| Q4 25 | $124.2M | $1.4B | ||
| Q3 25 | $112.8M | $1.4B | ||
| Q2 25 | $94.6M | $1.2B | ||
| Q1 25 | $115.7M | $932.7M | ||
| Q4 24 | $113.6M | $521.9M | ||
| Q3 24 | $130.4M | $426.4M | ||
| Q2 24 | $108.4M | $238.4M | ||
| Q1 24 | $109.2M | $237.9M |
总债务EXPIRMD
| Q4 25 | — | $403.9M | ||
| Q3 25 | — | $408.7M | ||
| Q2 25 | — | $658.4M | ||
| Q1 25 | — | $663.1M | ||
| Q4 24 | — | $662.9M | ||
| Q3 24 | — | $667.6M | ||
| Q2 24 | — | $697.3M | ||
| Q1 24 | — | $997.0M |
股东权益EXPIRMD
| Q4 25 | $242.8M | $6.3B | ||
| Q3 25 | $235.3M | $6.1B | ||
| Q2 25 | $218.4M | $6.0B | ||
| Q1 25 | $212.0M | $5.5B | ||
| Q4 24 | $204.9M | $5.3B | ||
| Q3 24 | $211.1M | $5.2B | ||
| Q2 24 | $220.3M | $4.9B | ||
| Q1 24 | $222.4M | $4.6B |
总资产EXPIRMD
| Q4 25 | $442.5M | $8.5B | ||
| Q3 25 | $458.7M | $8.3B | ||
| Q2 25 | $481.2M | $8.2B | ||
| Q1 25 | $435.8M | $7.6B | ||
| Q4 24 | $390.7M | $7.1B | ||
| Q3 24 | $432.6M | $7.2B | ||
| Q2 24 | $457.4M | $6.9B | ||
| Q1 24 | $426.7M | $6.8B |
负债/权益比EXPIRMD
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.22× |
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 | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $311.2M |
| 自由现金流率自由现金流/营收 | 1.0% | 21.9% |
| 资本支出强度资本支出/营收 | 0.2% | 2.0% |
| 现金转化率经营现金流/净利润 | — | 0.87× |
| 过去12个月自由现金流最近4个季度 | $109.0M | $1.8B |
8季度趋势，按日历期对齐
经营现金流EXPIRMD
| Q4 25 | $13.8M | $339.7M | ||
| Q3 25 | $28.9M | $457.3M | ||
| Q2 25 | $36.1M | $538.8M | ||
| Q1 25 | $39.8M | $578.7M | ||
| Q4 24 | $13.7M | $308.6M | ||
| Q3 24 | $46.0M | $325.5M | ||
| Q2 24 | $71.1M | $440.1M | ||
| Q1 24 | $60.7M | $402.0M |
自由现金流EXPIRMD
| Q4 25 | $11.9M | $311.2M | ||
| Q3 25 | $26.6M | $414.4M | ||
| Q2 25 | $33.3M | $508.2M | ||
| Q1 25 | $37.3M | $557.9M | ||
| Q4 24 | $11.6M | $288.0M | ||
| Q3 24 | $44.4M | $307.7M | ||
| Q2 24 | $69.7M | $415.2M | ||
| Q1 24 | $59.3M | $380.8M |
自由现金流率EXPIRMD
| Q4 25 | 1.0% | 21.9% | ||
| Q3 25 | 2.0% | 31.0% | ||
| Q2 25 | 2.5% | 37.7% | ||
| Q1 25 | 3.9% | 43.2% | ||
| Q4 24 | 1.1% | 22.5% | ||
| Q3 24 | 3.6% | 25.1% | ||
| Q2 24 | 5.4% | 33.9% | ||
| Q1 24 | 6.3% | 31.8% |
资本支出强度EXPIRMD
| Q4 25 | 0.2% | 2.0% | ||
| Q3 25 | 0.2% | 3.2% | ||
| Q2 25 | 0.2% | 2.3% | ||
| Q1 25 | 0.3% | 1.6% | ||
| Q4 24 | 0.2% | 1.6% | ||
| Q3 24 | 0.1% | 1.5% | ||
| Q2 24 | 0.1% | 2.0% | ||
| Q1 24 | 0.1% | 1.8% |
现金转化率EXPIRMD
| Q4 25 | — | 0.87× | ||
| Q3 25 | 8.26× | 1.31× | ||
| Q2 25 | — | 1.42× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 1.05× | ||
| Q2 24 | 5.75× | 1.51× | ||
| Q1 24 | — | 1.34× |
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% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
