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eXp World Holdings, Inc.（EXPI）与Taylor Morrison Home Corp（TMHC）财务数据对比。点击上方公司名可切换其他公司
Taylor Morrison Home Corp的季度营收约是eXp World Holdings, Inc.的1.2倍（$1.4B vs $1.2B），Taylor Morrison Home Corp净利率更高（7.1% vs -1.1%，领先8.2%），eXp World Holdings, Inc.同比增速更快（8.5% vs -26.8%），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs -16.5%）
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。
泰勒莫里森住房公司是美国规模最大的住宅建筑商之一，总部位于亚利桑那州斯科茨代尔，2007年7月由泰勒伍德罗与莫里森住房合并成立。公司业务覆盖亚利桑那、加利福尼亚、得克萨斯等十余个州，产品涵盖首次置业、中端及中高端住宅，可满足不同层级客户的住房需求。
EXPI vs TMHC — 直观对比
营收规模更大
TMHC
是对方的1.2倍
$1.2B
营收增速更快
EXPI
高出35.4%
-26.8%
净利率更高
TMHC
高出8.2%
-1.1%
两年增速更快
EXPI
近两年复合增速
-16.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.4B |
| 净利润 | $-12.9M | $98.6M |
| 毛利率 | — | 21.0% |
| 营业利润率 | -1.1% | — |
| 净利率 | -1.1% | 7.1% |
| 营收同比 | 8.5% | -26.8% |
| 净利润同比 | -35.7% | -53.8% |
| 每股收益（稀释后） | $-0.08 | $1.12 |
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EXPITMHC
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.2B | $2.1B | ||
| Q3 25 | $1.3B | $2.1B | ||
| Q2 25 | $1.3B | $2.0B | ||
| Q1 25 | $954.9M | $1.9B | ||
| Q4 24 | $1.1B | $2.4B | ||
| Q3 24 | $1.2B | $2.1B | ||
| Q2 24 | $1.3B | $2.0B |
净利润EXPITMHC
| Q1 26 | — | $98.6M | ||
| Q4 25 | $-12.9M | $174.0M | ||
| Q3 25 | $3.5M | $201.4M | ||
| Q2 25 | $-2.3M | $193.6M | ||
| Q1 25 | $-11.0M | $213.5M | ||
| Q4 24 | $-9.5M | $242.5M | ||
| Q3 24 | $-8.5M | $251.1M | ||
| Q2 24 | $12.4M | $199.5M |
毛利率EXPITMHC
| Q1 26 | — | 21.0% | ||
| Q4 25 | — | 22.0% | ||
| Q3 25 | — | 22.7% | ||
| Q2 25 | — | 23.0% | ||
| Q1 25 | — | 24.4% | ||
| Q4 24 | — | 23.9% | ||
| Q3 24 | 99.9% | 25.0% | ||
| Q2 24 | 99.9% | 23.7% |
营业利润率EXPITMHC
| Q1 26 | — | — | ||
| Q4 25 | -1.1% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | -0.2% | — | ||
| Q1 25 | -1.1% | — | ||
| Q4 24 | -1.0% | — | ||
| Q3 24 | -0.7% | — | ||
| Q2 24 | 1.4% | — |
净利率EXPITMHC
| Q1 26 | — | 7.1% | ||
| Q4 25 | -1.1% | 8.3% | ||
| Q3 25 | 0.3% | 9.6% | ||
| Q2 25 | -0.2% | 9.5% | ||
| Q1 25 | -1.2% | 11.3% | ||
| Q4 24 | -0.9% | 10.3% | ||
| Q3 24 | -0.7% | 11.8% | ||
| Q2 24 | 1.0% | 10.0% |
每股收益（稀释后）EXPITMHC
| Q1 26 | — | $1.12 | ||
| Q4 25 | $-0.08 | $1.77 | ||
| Q3 25 | $0.02 | $2.01 | ||
| Q2 25 | $-0.01 | $1.92 | ||
| Q1 25 | $-0.07 | $2.07 | ||
| Q4 24 | $-0.06 | $2.29 | ||
| Q3 24 | $-0.06 | $2.37 | ||
| Q2 24 | $0.08 | $1.86 |
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 | $652.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | $6.2B |
| 总资产 | $442.5M | $9.8B |
| 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EXPITMHC
| Q1 26 | — | $652.9M | ||
| Q4 25 | $124.2M | $850.0M | ||
| Q3 25 | $112.8M | $370.6M | ||
| Q2 25 | $94.6M | $130.2M | ||
| Q1 25 | $115.7M | $377.8M | ||
| Q4 24 | $113.6M | $487.2M | ||
| Q3 24 | $130.4M | $256.4M | ||
| Q2 24 | $108.4M | $246.8M |
总债务EXPITMHC
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.2B |
股东权益EXPITMHC
| Q1 26 | — | $6.2B | ||
| Q4 25 | $242.8M | $6.3B | ||
| Q3 25 | $235.3M | $6.2B | ||
| Q2 25 | $218.4M | $6.1B | ||
| Q1 25 | $212.0M | $6.0B | ||
| Q4 24 | $204.9M | $5.9B | ||
| Q3 24 | $211.1M | $5.7B | ||
| Q2 24 | $220.3M | $5.5B |
总资产EXPITMHC
| Q1 26 | — | $9.8B | ||
| Q4 25 | $442.5M | $9.8B | ||
| Q3 25 | $458.7M | $9.6B | ||
| Q2 25 | $481.2M | $9.5B | ||
| Q1 25 | $435.8M | $9.4B | ||
| Q4 24 | $390.7M | $9.3B | ||
| Q3 24 | $432.6M | $9.3B | ||
| Q2 24 | $457.4M | $9.1B |
负债/权益比EXPITMHC
| Q1 26 | — | — | ||
| Q4 25 | — | 0.36× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.39× |
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EXPITMHC
| Q1 26 | — | — | ||
| Q4 25 | $13.8M | $646.4M | ||
| Q3 25 | $28.9M | $219.6M | ||
| Q2 25 | $36.1M | $-126.0M | ||
| Q1 25 | $39.8M | $77.2M | ||
| Q4 24 | $13.7M | $438.2M | ||
| Q3 24 | $46.0M | $135.9M | ||
| Q2 24 | $71.1M | $-233.3M |
自由现金流EXPITMHC
| Q1 26 | — | — | ||
| Q4 25 | $11.9M | $635.3M | ||
| Q3 25 | $26.6M | $206.6M | ||
| Q2 25 | $33.3M | $-133.6M | ||
| Q1 25 | $37.3M | $68.7M | ||
| Q4 24 | $11.6M | $428.2M | ||
| Q3 24 | $44.4M | $127.1M | ||
| Q2 24 | $69.7M | $-241.7M |
自由现金流率EXPITMHC
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 30.3% | ||
| Q3 25 | 2.0% | 9.9% | ||
| Q2 25 | 2.5% | -6.6% | ||
| Q1 25 | 3.9% | 3.6% | ||
| Q4 24 | 1.1% | 18.2% | ||
| Q3 24 | 3.6% | 6.0% | ||
| Q2 24 | 5.4% | -12.1% |
资本支出强度EXPITMHC
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 0.5% | ||
| Q3 25 | 0.2% | 0.6% | ||
| Q2 25 | 0.2% | 0.4% | ||
| Q1 25 | 0.3% | 0.4% | ||
| Q4 24 | 0.2% | 0.4% | ||
| Q3 24 | 0.1% | 0.4% | ||
| Q2 24 | 0.1% | 0.4% |
现金转化率EXPITMHC
| Q1 26 | — | — | ||
| Q4 25 | — | 3.71× | ||
| Q3 25 | 8.26× | 1.09× | ||
| Q2 25 | — | -0.65× | ||
| Q1 25 | — | 0.36× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | 5.75× | -1.17× |
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% |
TMHC
| Home closings revenue, net | $1.3B | 95% |
| Financial services revenue, net | $49.3M | 4% |
| Land closings revenue | $14.5M | 1% |
| Amenity and other revenue | $11.9M | 1% |
