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eXp World Holdings, Inc.（EXPI）与SCANSOURCE, INC.（SCSC）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SCANSOURCE, INC.的1.6倍（$1.2B vs $766.5M），SCANSOURCE, INC.净利率更高（2.2% vs -1.1%，领先3.2%），eXp World Holdings, Inc.同比增速更快（8.5% vs 2.5%），SCANSOURCE, INC.自由现金流更多（$28.9M vs $11.9M），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs 0.9%）
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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
EXPI vs SCSC — 直观对比
营收规模更大
EXPI
是对方的1.6倍
$766.5M
营收增速更快
EXPI
高出6.0%
2.5%
净利率更高
SCSC
高出3.2%
-1.1%
自由现金流更多
SCSC
多$17.0M
$11.9M
两年增速更快
EXPI
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $766.5M |
| 净利润 | $-12.9M | $16.5M |
| 毛利率 | — | 13.4% |
| 营业利润率 | -1.1% | 2.3% |
| 净利率 | -1.1% | 2.2% |
| 营收同比 | 8.5% | 2.5% |
| 净利润同比 | -35.7% | -3.3% |
| 每股收益（稀释后） | $-0.08 | $0.75 |
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EXPISCSC
| Q4 25 | $1.2B | $766.5M | ||
| Q3 25 | $1.3B | $739.6M | ||
| Q2 25 | $1.3B | $812.9M | ||
| Q1 25 | $954.9M | $704.8M | ||
| Q4 24 | $1.1B | $747.5M | ||
| Q3 24 | $1.2B | $775.6M | ||
| Q2 24 | $1.3B | $746.1M | ||
| Q1 24 | $943.1M | $752.6M |
净利润EXPISCSC
| Q4 25 | $-12.9M | $16.5M | ||
| Q3 25 | $3.5M | $19.9M | ||
| Q2 25 | $-2.3M | $20.1M | ||
| Q1 25 | $-11.0M | $17.4M | ||
| Q4 24 | $-9.5M | $17.1M | ||
| Q3 24 | $-8.5M | $17.0M | ||
| Q2 24 | $12.4M | $16.1M | ||
| Q1 24 | $-15.6M | $12.8M |
毛利率EXPISCSC
| Q4 25 | — | 13.4% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | 99.9% | 13.1% | ||
| Q2 24 | 99.9% | 13.0% | ||
| Q1 24 | — | 12.6% |
营业利润率EXPISCSC
| Q4 25 | -1.1% | 2.3% | ||
| Q3 25 | 0.3% | 3.5% | ||
| Q2 25 | -0.2% | 3.3% | ||
| Q1 25 | -1.1% | 3.2% | ||
| Q4 24 | -1.0% | 2.5% | ||
| Q3 24 | -0.7% | 2.3% | ||
| Q2 24 | 1.4% | 2.9% | ||
| Q1 24 | -1.9% | 2.3% |
净利率EXPISCSC
| Q4 25 | -1.1% | 2.2% | ||
| Q3 25 | 0.3% | 2.7% | ||
| Q2 25 | -0.2% | 2.5% | ||
| Q1 25 | -1.2% | 2.5% | ||
| Q4 24 | -0.9% | 2.3% | ||
| Q3 24 | -0.7% | 2.2% | ||
| Q2 24 | 1.0% | 2.2% | ||
| Q1 24 | -1.7% | 1.7% |
每股收益（稀释后）EXPISCSC
| Q4 25 | $-0.08 | $0.75 | ||
| Q3 25 | $0.02 | $0.89 | ||
| Q2 25 | $-0.01 | $0.87 | ||
| Q1 25 | $-0.07 | $0.74 | ||
| Q4 24 | $-0.06 | $0.70 | ||
| Q3 24 | $-0.06 | $0.69 | ||
| Q2 24 | $0.08 | $0.66 | ||
| Q1 24 | $-0.10 | $0.50 |
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 | $83.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | $910.9M |
| 总资产 | $442.5M | $1.7B |
| 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EXPISCSC
| Q4 25 | $124.2M | $83.5M | ||
| Q3 25 | $112.8M | $124.9M | ||
| Q2 25 | $94.6M | $126.2M | ||
| Q1 25 | $115.7M | $146.3M | ||
| Q4 24 | $113.6M | $110.5M | ||
| Q3 24 | $130.4M | $145.0M | ||
| Q2 24 | $108.4M | $185.5M | ||
| Q1 24 | $109.2M | $159.1M |
股东权益EXPISCSC
| Q4 25 | $242.8M | $910.9M | ||
| Q3 25 | $235.3M | $914.0M | ||
| Q2 25 | $218.4M | $906.4M | ||
| Q1 25 | $212.0M | $901.7M | ||
| Q4 24 | $204.9M | $900.7M | ||
| Q3 24 | $211.1M | $920.9M | ||
| Q2 24 | $220.3M | $924.3M | ||
| Q1 24 | $222.4M | $944.1M |
总资产EXPISCSC
| Q4 25 | $442.5M | $1.7B | ||
| Q3 25 | $458.7M | $1.7B | ||
| Q2 25 | $481.2M | $1.8B | ||
| Q1 25 | $435.8M | $1.7B | ||
| Q4 24 | $390.7M | $1.7B | ||
| Q3 24 | $432.6M | $1.8B | ||
| Q2 24 | $457.4M | $1.8B | ||
| Q1 24 | $426.7M | $1.8B |
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 | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $28.9M |
| 自由现金流率自由现金流/营收 | 1.0% | 3.8% |
| 资本支出强度资本支出/营收 | 0.2% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 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EXPISCSC
| Q4 25 | $13.8M | $30.8M | ||
| Q3 25 | $28.9M | $23.2M | ||
| Q2 25 | $36.1M | — | ||
| Q1 25 | $39.8M | $66.1M | ||
| Q4 24 | $13.7M | $-6.2M | ||
| Q3 24 | $46.0M | $44.8M | ||
| Q2 24 | $71.1M | — | ||
| Q1 24 | $60.7M | $160.2M |
自由现金流EXPISCSC
| Q4 25 | $11.9M | $28.9M | ||
| Q3 25 | $26.6M | $20.8M | ||
| Q2 25 | $33.3M | — | ||
| Q1 25 | $37.3M | $64.6M | ||
| Q4 24 | $11.6M | $-8.2M | ||
| Q3 24 | $44.4M | $42.5M | ||
| Q2 24 | $69.7M | — | ||
| Q1 24 | $59.3M | $157.7M |
自由现金流率EXPISCSC
| Q4 25 | 1.0% | 3.8% | ||
| Q3 25 | 2.0% | 2.8% | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 3.9% | 9.2% | ||
| Q4 24 | 1.1% | -1.1% | ||
| Q3 24 | 3.6% | 5.5% | ||
| Q2 24 | 5.4% | — | ||
| Q1 24 | 6.3% | 21.0% |
资本支出强度EXPISCSC
| Q4 25 | 0.2% | 0.3% | ||
| Q3 25 | 0.2% | 0.3% | ||
| Q2 25 | 0.2% | 0.3% | ||
| Q1 25 | 0.3% | 0.2% | ||
| Q4 24 | 0.2% | 0.3% | ||
| Q3 24 | 0.1% | 0.3% | ||
| Q2 24 | 0.1% | 0.2% | ||
| Q1 24 | 0.1% | 0.3% |
现金转化率EXPISCSC
| Q4 25 | — | 1.87× | ||
| Q3 25 | 8.26× | 1.17× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.79× | ||
| Q4 24 | — | -0.36× | ||
| Q3 24 | — | 2.64× | ||
| Q2 24 | 5.75× | — | ||
| Q1 24 | — | 12.51× |
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% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
