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eXp World Holdings, Inc.（EXPI）与新思科技（SNPS）财务数据对比。点击上方公司名可切换其他公司
新思科技的季度营收约是eXp World Holdings, Inc.的2.0倍（$2.4B vs $1.2B），新思科技净利率更高（2.7% vs -1.1%，领先3.8%），eXp World Holdings, Inc.同比增速更快（8.5% vs -2.2%），过去两年新思科技的营收复合增速更高（28.7% 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。
新思科技是总部位于美国加利福尼亚州森尼韦尔的跨国电子设计自动化（EDA）龙头企业，专注于硅芯片设计与验证、电子系统级设计验证及可复用组件研发，为全球半导体设计与制造行业提供专业工具及配套服务。
EXPI vs SNPS — 直观对比
营收规模更大
SNPS
是对方的2.0倍
$1.2B
营收增速更快
EXPI
高出10.7%
-2.2%
净利率更高
SNPS
高出3.8%
-1.1%
两年增速更快
SNPS
近两年复合增速
12.4%
损益表 — Q4 FY2025 vs Q1 FY2027
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.4B |
| 净利润 | $-12.9M | $64.7M |
| 毛利率 | — | 73.5% |
| 营业利润率 | -1.1% | 8.4% |
| 净利率 | -1.1% | 2.7% |
| 营收同比 | 8.5% | -2.2% |
| 净利润同比 | -35.7% | -78.2% |
| 每股收益（稀释后） | $-0.08 | $0.34 |
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EXPISNPS
| Q4 26 | — | $2.4B | ||
| Q4 25 | $1.2B | $2.3B | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $954.9M | $1.5B | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $1.2B | $1.5B | ||
| Q2 24 | $1.3B | $1.5B |
净利润EXPISNPS
| Q4 26 | — | $64.7M | ||
| Q4 25 | $-12.9M | $448.7M | ||
| Q3 25 | $3.5M | $242.5M | ||
| Q2 25 | $-2.3M | $345.3M | ||
| Q1 25 | $-11.0M | $295.7M | ||
| Q4 24 | $-9.5M | $1.1B | ||
| Q3 24 | $-8.5M | $408.1M | ||
| Q2 24 | $12.4M | $292.1M |
毛利率EXPISNPS
| Q4 26 | — | 73.5% | ||
| Q4 25 | — | 71.0% | ||
| Q3 25 | — | 78.1% | ||
| Q2 25 | — | 80.2% | ||
| Q1 25 | — | 81.4% | ||
| Q4 24 | — | 78.3% | ||
| Q3 24 | 99.9% | 80.9% | ||
| Q2 24 | 99.9% | 79.4% |
营业利润率EXPISNPS
| Q4 26 | — | 8.4% | ||
| Q4 25 | -1.1% | 5.4% | ||
| Q3 25 | 0.3% | 9.5% | ||
| Q2 25 | -0.2% | 23.5% | ||
| Q1 25 | -1.1% | 17.3% | ||
| Q4 24 | -1.0% | 20.3% | ||
| Q3 24 | -0.7% | 23.6% | ||
| Q2 24 | 1.4% | 22.8% |
净利率EXPISNPS
| Q4 26 | — | 2.7% | ||
| Q4 25 | -1.1% | 19.9% | ||
| Q3 25 | 0.3% | 13.9% | ||
| Q2 25 | -0.2% | 21.5% | ||
| Q1 25 | -1.2% | 20.3% | ||
| Q4 24 | -0.9% | 74.4% | ||
| Q3 24 | -0.7% | 26.7% | ||
| Q2 24 | 1.0% | 20.1% |
每股收益（稀释后）EXPISNPS
| Q4 26 | — | $0.34 | ||
| Q4 25 | $-0.08 | $2.44 | ||
| Q3 25 | $0.02 | $1.50 | ||
| Q2 25 | $-0.01 | $2.21 | ||
| Q1 25 | $-0.07 | $1.89 | ||
| Q4 24 | $-0.06 | $7.13 | ||
| Q3 24 | $-0.06 | $2.61 | ||
| Q2 24 | $0.08 | $1.88 |
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 | $2.2B |
| 总债务越低越好 | — | $10.0B |
| 股东权益账面价值 | $242.8M | $30.5B |
| 总资产 | $442.5M | $47.2B |
| 负债/权益比越低杠杆越低 | — | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资EXPISNPS
| Q4 26 | — | $2.2B | ||
| Q4 25 | $124.2M | $3.0B | ||
| Q3 25 | $112.8M | $2.6B | ||
| Q2 25 | $94.6M | $14.3B | ||
| Q1 25 | $115.7M | $3.8B | ||
| Q4 24 | $113.6M | $4.1B | ||
| Q3 24 | $130.4M | $2.0B | ||
| Q2 24 | $108.4M | $1.7B |
总债务EXPISNPS
| Q4 26 | — | $10.0B | ||
| Q4 25 | — | $13.5B | ||
| Q3 25 | — | $14.3B | ||
| Q2 25 | — | $10.1B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益EXPISNPS
| Q4 26 | — | $30.5B | ||
| Q4 25 | $242.8M | $28.3B | ||
| Q3 25 | $235.3M | $27.6B | ||
| Q2 25 | $218.4M | $9.9B | ||
| Q1 25 | $212.0M | $9.3B | ||
| Q4 24 | $204.9M | $9.0B | ||
| Q3 24 | $211.1M | $7.7B | ||
| Q2 24 | $220.3M | $7.2B |
总资产EXPISNPS
| Q4 26 | — | $47.2B | ||
| Q4 25 | $442.5M | $48.2B | ||
| Q3 25 | $458.7M | $48.2B | ||
| Q2 25 | $481.2M | $23.8B | ||
| Q1 25 | $435.8M | $13.0B | ||
| Q4 24 | $390.7M | $13.1B | ||
| Q3 24 | $432.6M | $11.6B | ||
| Q2 24 | $457.4M | $11.0B |
负债/权益比EXPISNPS
| Q4 26 | — | 0.33× | ||
| Q4 25 | — | 0.48× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 1.01× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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EXPISNPS
| Q4 26 | — | — | ||
| Q4 25 | $13.8M | $639.7M | ||
| Q3 25 | $28.9M | $671.0M | ||
| Q2 25 | $36.1M | $275.4M | ||
| Q1 25 | $39.8M | $-67.5M | ||
| Q4 24 | $13.7M | $562.8M | ||
| Q3 24 | $46.0M | $455.4M | ||
| Q2 24 | $71.1M | $476.6M |
自由现金流EXPISNPS
| Q4 26 | — | — | ||
| Q4 25 | $11.9M | $605.2M | ||
| Q3 25 | $26.6M | $632.4M | ||
| Q2 25 | $33.3M | $219.8M | ||
| Q1 25 | $37.3M | $-108.2M | ||
| Q4 24 | $11.6M | $558.4M | ||
| Q3 24 | $44.4M | $415.4M | ||
| Q2 24 | $69.7M | $438.2M |
自由现金流率EXPISNPS
| Q4 26 | — | — | ||
| Q4 25 | 1.0% | 26.8% | ||
| Q3 25 | 2.0% | 36.3% | ||
| Q2 25 | 2.5% | 13.7% | ||
| Q1 25 | 3.9% | -7.4% | ||
| Q4 24 | 1.1% | 37.3% | ||
| Q3 24 | 3.6% | 27.2% | ||
| Q2 24 | 5.4% | 30.1% |
资本支出强度EXPISNPS
| Q4 26 | — | — | ||
| Q4 25 | 0.2% | 1.5% | ||
| Q3 25 | 0.2% | 2.2% | ||
| Q2 25 | 0.2% | 3.5% | ||
| Q1 25 | 0.3% | 2.8% | ||
| Q4 24 | 0.2% | 0.3% | ||
| Q3 24 | 0.1% | 2.6% | ||
| Q2 24 | 0.1% | 2.6% |
现金转化率EXPISNPS
| Q4 26 | — | — | ||
| Q4 25 | — | 1.43× | ||
| Q3 25 | 8.26× | 2.77× | ||
| Q2 25 | — | 0.80× | ||
| Q1 25 | — | -0.23× | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | 1.12× | ||
| Q2 24 | 5.75× | 1.63× |
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% |
SNPS
| Time-based products | $951.5M | 40% |
| Upfront products | $741.5M | 31% |
| Maintenance and service | $715.7M | 30% |
