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eXp World Holdings, Inc.（EXPI）与Tyler Technologies（TYL）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Tyler Technologies的1.9倍（$1.2B vs $613.5M），Tyler Technologies净利率更高（13.2% vs -1.1%，领先14.3%），Tyler Technologies同比增速更快（8.6% vs 8.5%），eXp World Holdings, Inc.自由现金流更多（$11.9M vs $2.0M），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs 6.5%）
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。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
EXPI vs TYL — 直观对比
营收规模更大
EXPI
是对方的1.9倍
$613.5M
营收增速更快
TYL
高出0.0%
8.5%
净利率更高
TYL
高出14.3%
-1.1%
自由现金流更多
EXPI
多$9.9M
$2.0M
两年增速更快
EXPI
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $613.5M |
| 净利润 | $-12.9M | $81.2M |
| 毛利率 | — | 48.3% |
| 营业利润率 | -1.1% | 16.3% |
| 净利率 | -1.1% | 13.2% |
| 营收同比 | 8.5% | 8.6% |
| 净利润同比 | -35.7% | — |
| 每股收益（稀释后） | $-0.08 | $1.88 |
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EXPITYL
| Q1 26 | — | $613.5M | ||
| Q4 25 | $1.2B | $575.2M | ||
| Q3 25 | $1.3B | $595.9M | ||
| Q2 25 | $1.3B | $596.1M | ||
| Q1 25 | $954.9M | $565.2M | ||
| Q4 24 | $1.1B | $541.1M | ||
| Q3 24 | $1.2B | $543.3M | ||
| Q2 24 | $1.3B | $541.0M |
净利润EXPITYL
| Q1 26 | — | $81.2M | ||
| Q4 25 | $-12.9M | $65.5M | ||
| Q3 25 | $3.5M | $84.4M | ||
| Q2 25 | $-2.3M | $84.6M | ||
| Q1 25 | $-11.0M | $81.1M | ||
| Q4 24 | $-9.5M | $65.2M | ||
| Q3 24 | $-8.5M | $75.9M | ||
| Q2 24 | $12.4M | $67.7M |
毛利率EXPITYL
| Q1 26 | — | 48.3% | ||
| Q4 25 | — | 45.5% | ||
| Q3 25 | — | 47.2% | ||
| Q2 25 | — | 45.8% | ||
| Q1 25 | — | 47.3% | ||
| Q4 24 | — | 43.8% | ||
| Q3 24 | 99.9% | 43.7% | ||
| Q2 24 | 99.9% | 44.0% |
营业利润率EXPITYL
| Q1 26 | — | 16.3% | ||
| Q4 25 | -1.1% | 13.0% | ||
| Q3 25 | 0.3% | 16.4% | ||
| Q2 25 | -0.2% | 16.0% | ||
| Q1 25 | -1.1% | 15.8% | ||
| Q4 24 | -1.0% | 13.2% | ||
| Q3 24 | -0.7% | 15.2% | ||
| Q2 24 | 1.4% | 14.4% |
净利率EXPITYL
| Q1 26 | — | 13.2% | ||
| Q4 25 | -1.1% | 11.4% | ||
| Q3 25 | 0.3% | 14.2% | ||
| Q2 25 | -0.2% | 14.2% | ||
| Q1 25 | -1.2% | 14.3% | ||
| Q4 24 | -0.9% | 12.1% | ||
| Q3 24 | -0.7% | 14.0% | ||
| Q2 24 | 1.0% | 12.5% |
每股收益（稀释后）EXPITYL
| Q1 26 | — | $1.88 | ||
| Q4 25 | $-0.08 | $1.50 | ||
| Q3 25 | $0.02 | $1.93 | ||
| Q2 25 | $-0.01 | $1.93 | ||
| Q1 25 | $-0.07 | $1.84 | ||
| Q4 24 | $-0.06 | $1.48 | ||
| Q3 24 | $-0.06 | $1.74 | ||
| Q2 24 | $0.08 | $1.57 |
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 | $346.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | $3.6B |
| 总资产 | $442.5M | $4.8B |
| 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EXPITYL
| Q1 26 | — | $346.4M | ||
| Q4 25 | $124.2M | $1.1B | ||
| Q3 25 | $112.8M | $950.8M | ||
| Q2 25 | $94.6M | $892.3M | ||
| Q1 25 | $115.7M | $807.4M | ||
| Q4 24 | $113.6M | $768.0M | ||
| Q3 24 | $130.4M | $544.3M | ||
| Q2 24 | $108.4M | $258.0M |
总债务EXPITYL
| Q1 26 | — | — | ||
| Q4 25 | — | $599.7M | ||
| Q3 25 | — | $599.2M | ||
| Q2 25 | — | $598.8M | ||
| Q1 25 | — | $598.4M | ||
| Q4 24 | — | $597.9M | ||
| Q3 24 | — | $597.5M | ||
| Q2 24 | — | $597.1M |
股东权益EXPITYL
| Q1 26 | — | $3.6B | ||
| Q4 25 | $242.8M | $3.7B | ||
| Q3 25 | $235.3M | $3.6B | ||
| Q2 25 | $218.4M | $3.6B | ||
| Q1 25 | $212.0M | $3.5B | ||
| Q4 24 | $204.9M | $3.4B | ||
| Q3 24 | $211.1M | $3.3B | ||
| Q2 24 | $220.3M | $3.1B |
总资产EXPITYL
| Q1 26 | — | $4.8B | ||
| Q4 25 | $442.5M | $5.6B | ||
| Q3 25 | $458.7M | $5.5B | ||
| Q2 25 | $481.2M | $5.4B | ||
| Q1 25 | $435.8M | $5.2B | ||
| Q4 24 | $390.7M | $5.2B | ||
| Q3 24 | $432.6M | $5.0B | ||
| Q2 24 | $457.4M | $4.8B |
负债/权益比EXPITYL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 0.16× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.19× |
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 | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $2.0M |
| 自由现金流率自由现金流/营收 | 1.0% | 0.3% |
| 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 | — | 1.32× |
| 过去12个月自由现金流最近4个季度 | $109.0M | $585.7M |
8季度趋势，按日历期对齐
经营现金流EXPITYL
| Q1 26 | — | $107.3M | ||
| Q4 25 | $13.8M | $243.9M | ||
| Q3 25 | $28.9M | $255.2M | ||
| Q2 25 | $36.1M | $98.3M | ||
| Q1 25 | $39.8M | $56.2M | ||
| Q4 24 | $13.7M | $224.8M | ||
| Q3 24 | $46.0M | $263.7M | ||
| Q2 24 | $71.1M | $64.3M |
自由现金流EXPITYL
| Q1 26 | — | $2.0M | ||
| Q4 25 | $11.9M | $239.6M | ||
| Q3 25 | $26.6M | $251.3M | ||
| Q2 25 | $33.3M | $92.8M | ||
| Q1 25 | $37.3M | $53.8M | ||
| Q4 24 | $11.6M | $221.0M | ||
| Q3 24 | $44.4M | $260.8M | ||
| Q2 24 | $69.7M | $57.7M |
自由现金流率EXPITYL
| Q1 26 | — | 0.3% | ||
| Q4 25 | 1.0% | 41.7% | ||
| Q3 25 | 2.0% | 42.2% | ||
| Q2 25 | 2.5% | 15.6% | ||
| Q1 25 | 3.9% | 9.5% | ||
| Q4 24 | 1.1% | 40.8% | ||
| Q3 24 | 3.6% | 48.0% | ||
| Q2 24 | 5.4% | 10.7% |
资本支出强度EXPITYL
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 0.8% | ||
| Q3 25 | 0.2% | 0.7% | ||
| Q2 25 | 0.2% | 0.9% | ||
| Q1 25 | 0.3% | 0.4% | ||
| Q4 24 | 0.2% | 0.7% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.1% | 1.2% |
现金转化率EXPITYL
| Q1 26 | — | 1.32× | ||
| Q4 25 | — | 3.72× | ||
| Q3 25 | 8.26× | 3.02× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 3.45× | ||
| Q3 24 | — | 3.47× | ||
| Q2 24 | 5.75× | 0.95× |
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% |
TYL
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
