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eXp World Holdings, Inc.（EXPI）与Constellation Brands（STZ）财务数据对比。点击上方公司名可切换其他公司
Constellation Brands的季度营收约是eXp World Holdings, Inc.的1.9倍（$2.2B vs $1.2B），Constellation Brands净利率更高（22.6% vs -1.1%，领先23.7%），eXp World Holdings, Inc.同比增速更快（8.5% vs -9.8%），Constellation Brands自由现金流更多（$370.9M vs $11.9M），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs 1.9%）
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。
Constellation Brands, Inc.是总部位于美国纽约州罗切斯特的《财富》500强企业，主营啤酒、葡萄酒及烈酒的生产与营销，按销售额计算是美国最大的啤酒进口商，在全美主要啤酒供应商中市场份额位列第三。公司还通过与Canopy Growth合作在医用及娱乐大麻领域有大额投资，现有约40处设施、近9000名员工。
EXPI vs STZ — 直观对比
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.2B |
| 净利润 | $-12.9M | $502.8M |
| 毛利率 | — | 53.2% |
| 营业利润率 | -1.1% | 31.1% |
| 净利率 | -1.1% | 22.6% |
| 营收同比 | 8.5% | -9.8% |
| 净利润同比 | -35.7% | -18.4% |
| 每股收益（稀释后） | $-0.08 | — |
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
| Q4 25 | $1.2B | $2.2B | ||
| Q3 25 | $1.3B | $2.5B | ||
| Q2 25 | $1.3B | $2.5B | ||
| Q1 25 | $954.9M | $2.2B | ||
| Q4 24 | $1.1B | $2.5B | ||
| Q3 24 | $1.2B | $2.9B | ||
| Q2 24 | $1.3B | $2.7B | ||
| Q1 24 | $943.1M | $2.1B |
| Q4 25 | $-12.9M | $502.8M | ||
| Q3 25 | $3.5M | $466.0M | ||
| Q2 25 | $-2.3M | $516.1M | ||
| Q1 25 | $-11.0M | $-375.3M | ||
| Q4 24 | $-9.5M | $615.9M | ||
| Q3 24 | $-8.5M | $-1.2B | ||
| Q2 24 | $12.4M | $877.0M | ||
| Q1 24 | $-15.6M | $392.4M |
| Q4 25 | — | 53.2% | ||
| Q3 25 | — | 52.8% | ||
| Q2 25 | — | 50.4% | ||
| Q1 25 | — | 51.5% | ||
| Q4 24 | — | 52.1% | ||
| Q3 24 | 99.9% | 51.8% | ||
| Q2 24 | 99.9% | 52.7% | ||
| Q1 24 | — | 48.6% |
| Q4 25 | -1.1% | 31.1% | ||
| Q3 25 | 0.3% | 35.2% | ||
| Q2 25 | -0.2% | 28.4% | ||
| Q1 25 | -1.1% | -6.9% | ||
| Q4 24 | -1.0% | 32.2% | ||
| Q3 24 | -0.7% | -42.1% | ||
| Q2 24 | 1.4% | 35.4% | ||
| Q1 24 | -1.9% | 29.4% |
| Q4 25 | -1.1% | 22.6% | ||
| Q3 25 | 0.3% | 18.8% | ||
| Q2 25 | -0.2% | 20.5% | ||
| Q1 25 | -1.2% | -17.3% | ||
| Q4 24 | -0.9% | 25.0% | ||
| Q3 24 | -0.7% | -41.1% | ||
| Q2 24 | 1.0% | 32.9% | ||
| Q1 24 | -1.7% | 18.3% |
| Q4 25 | $-0.08 | — | ||
| Q3 25 | $0.02 | — | ||
| Q2 25 | $-0.01 | — | ||
| Q1 25 | $-0.07 | — | ||
| Q4 24 | $-0.06 | — | ||
| Q3 24 | $-0.06 | — | ||
| Q2 24 | $0.08 | — | ||
| Q1 24 | $-0.10 | — |
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 | $152.4M |
| 总债务越低越好 | — | $10.3B |
| 股东权益账面价值 | $242.8M | $7.7B |
| 总资产 | $442.5M | $21.7B |
| 负债/权益比越低杠杆越低 | — | 1.33× |
8季度趋势，按日历期对齐
| Q4 25 | $124.2M | $152.4M | ||
| Q3 25 | $112.8M | $72.0M | ||
| Q2 25 | $94.6M | $73.9M | ||
| Q1 25 | $115.7M | $68.1M | ||
| Q4 24 | $113.6M | $73.7M | ||
| Q3 24 | $130.4M | $64.6M | ||
| Q2 24 | $108.4M | $73.8M | ||
| Q1 24 | $109.2M | $152.4M |
| Q4 25 | — | $10.3B | ||
| Q3 25 | — | $10.3B | ||
| Q2 25 | — | $11.2B | ||
| Q1 25 | — | $10.7B | ||
| Q4 24 | — | $10.7B | ||
| Q3 24 | — | $11.1B | ||
| Q2 24 | — | $11.1B | ||
| Q1 24 | — | $11.6B |
| Q4 25 | $242.8M | $7.7B | ||
| Q3 25 | $235.3M | $7.5B | ||
| Q2 25 | $218.4M | $7.3B | ||
| Q1 25 | $212.0M | $6.9B | ||
| Q4 24 | $204.9M | $7.8B | ||
| Q3 24 | $211.1M | $7.9B | ||
| Q2 24 | $220.3M | $10.3B | ||
| Q1 24 | $222.4M | $9.7B |
| Q4 25 | $442.5M | $21.7B | ||
| Q3 25 | $458.7M | $21.4B | ||
| Q2 25 | $481.2M | $22.3B | ||
| Q1 25 | $435.8M | $21.7B | ||
| Q4 24 | $390.7M | $22.8B | ||
| Q3 24 | $432.6M | $23.1B | ||
| Q2 24 | $457.4M | $26.1B | ||
| Q1 24 | $426.7M | $25.7B |
| Q4 25 | — | 1.33× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.54× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.08× | ||
| Q1 24 | — | 1.19× |
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 | $616.9M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $370.9M |
| 自由现金流率自由现金流/营收 | 1.0% | 16.7% |
| 资本支出强度资本支出/营收 | 0.2% | 11.1% |
| 现金转化率经营现金流/净利润 | — | 1.23× |
| 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
| Q4 25 | $13.8M | $616.9M | ||
| Q3 25 | $28.9M | $852.1M | ||
| Q2 25 | $36.1M | $637.2M | ||
| Q1 25 | $39.8M | $594.7M | ||
| Q4 24 | $13.7M | $685.2M | ||
| Q3 24 | $46.0M | $1.2B | ||
| Q2 24 | $71.1M | $690.5M | ||
| Q1 24 | $60.7M | $433.2M |
| Q4 25 | $11.9M | $370.9M | ||
| Q3 25 | $26.6M | $634.8M | ||
| Q2 25 | $33.3M | $444.4M | ||
| Q1 25 | $37.3M | $312.1M | ||
| Q4 24 | $11.6M | $456.8M | ||
| Q3 24 | $44.4M | $854.0M | ||
| Q2 24 | $69.7M | $315.2M | ||
| Q1 24 | $59.3M | $76.0M |
| Q4 25 | 1.0% | 16.7% | ||
| Q3 25 | 2.0% | 25.6% | ||
| Q2 25 | 2.5% | 17.7% | ||
| Q1 25 | 3.9% | 14.4% | ||
| Q4 24 | 1.1% | 18.5% | ||
| Q3 24 | 3.6% | 29.3% | ||
| Q2 24 | 5.4% | 11.8% | ||
| Q1 24 | 6.3% | 3.6% |
| Q4 25 | 0.2% | 11.1% | ||
| Q3 25 | 0.2% | 8.8% | ||
| Q2 25 | 0.2% | 7.7% | ||
| Q1 25 | 0.3% | 13.1% | ||
| Q4 24 | 0.2% | 9.3% | ||
| Q3 24 | 0.1% | 11.2% | ||
| Q2 24 | 0.1% | 14.1% | ||
| Q1 24 | 0.1% | 16.7% |
| Q4 25 | — | 1.23× | ||
| Q3 25 | 8.26× | 1.83× | ||
| Q2 25 | — | 1.23× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.75× | 0.79× | ||
| Q1 24 | — | 1.10× |
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% |
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
