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eXp World Holdings, Inc.（EXPI）与VinFast Auto Ltd.（VFS）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VinFast Auto Ltd.的1.7倍（$1.2B vs $718.6M），eXp World Holdings, Inc.净利率更高（-1.1% vs -2.8%，领先1.7%）
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。
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
EXPI vs VFS — 直观对比
营收规模更大
EXPI
是对方的1.7倍
$718.6M
净利率更高
EXPI
高出1.7%
-2.8%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $718.6M |
| 净利润 | $-12.9M | $-20.0M |
| 毛利率 | — | — |
| 营业利润率 | -1.1% | -96.1% |
| 净利率 | -1.1% | -2.8% |
| 营收同比 | 8.5% | — |
| 净利润同比 | -35.7% | — |
| 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
营收EXPIVFS
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.3B | $718.6M | ||
| Q2 25 | $1.3B | $663.0M | ||
| Q1 25 | $954.9M | $656.5M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.2B | $511.6M | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $943.1M | $302.6M |
净利润EXPIVFS
| Q4 25 | $-12.9M | — | ||
| Q3 25 | $3.5M | $-20.0M | ||
| Q2 25 | $-2.3M | $-51.8M | ||
| Q1 25 | $-11.0M | $-26.1M | ||
| Q4 24 | $-9.5M | — | ||
| Q3 24 | $-8.5M | $-10.4M | ||
| Q2 24 | $12.4M | — | ||
| Q1 24 | $-15.6M | $-618.3M |
毛利率EXPIVFS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 99.9% | — | ||
| Q2 24 | 99.9% | — | ||
| Q1 24 | — | — |
营业利润率EXPIVFS
| Q4 25 | -1.1% | — | ||
| Q3 25 | 0.3% | -96.1% | ||
| Q2 25 | -0.2% | -79.0% | ||
| Q1 25 | -1.1% | -74.0% | ||
| Q4 24 | -1.0% | — | ||
| Q3 24 | -0.7% | -65.9% | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | -1.9% | -139.4% |
净利率EXPIVFS
| Q4 25 | -1.1% | — | ||
| Q3 25 | 0.3% | -2.8% | ||
| Q2 25 | -0.2% | -7.8% | ||
| Q1 25 | -1.2% | -4.0% | ||
| Q4 24 | -0.9% | — | ||
| Q3 24 | -0.7% | -2.0% | ||
| Q2 24 | 1.0% | — | ||
| Q1 24 | -1.7% | -204.3% |
每股收益（稀释后）EXPIVFS
| 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 | $8.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | — |
| 总资产 | $442.5M | $183.2M |
| 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EXPIVFS
| Q4 25 | $124.2M | — | ||
| Q3 25 | $112.8M | $8.8M | ||
| Q2 25 | $94.6M | $650.0M | ||
| Q1 25 | $115.7M | $2.4M | ||
| Q4 24 | $113.6M | — | ||
| Q3 24 | $130.4M | $1.9M | ||
| Q2 24 | $108.4M | — | ||
| Q1 24 | $109.2M | $3.0M |
股东权益EXPIVFS
| Q4 25 | $242.8M | — | ||
| Q3 25 | $235.3M | — | ||
| Q2 25 | $218.4M | $-7.2B | ||
| Q1 25 | $212.0M | — | ||
| Q4 24 | $204.9M | — | ||
| Q3 24 | $211.1M | — | ||
| Q2 24 | $220.3M | — | ||
| Q1 24 | $222.4M | — |
总资产EXPIVFS
| Q4 25 | $442.5M | — | ||
| Q3 25 | $458.7M | $183.2M | ||
| Q2 25 | $481.2M | $7.2B | ||
| Q1 25 | $435.8M | $158.2M | ||
| Q4 24 | $390.7M | — | ||
| Q3 24 | $432.6M | $151.8M | ||
| Q2 24 | $457.4M | — | ||
| Q1 24 | $426.7M | $145.6M |
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EXPIVFS
| Q4 25 | $13.8M | — | ||
| Q3 25 | $28.9M | — | ||
| Q2 25 | $36.1M | — | ||
| Q1 25 | $39.8M | — | ||
| Q4 24 | $13.7M | — | ||
| Q3 24 | $46.0M | — | ||
| Q2 24 | $71.1M | — | ||
| Q1 24 | $60.7M | — |
自由现金流EXPIVFS
| Q4 25 | $11.9M | — | ||
| Q3 25 | $26.6M | — | ||
| Q2 25 | $33.3M | — | ||
| Q1 25 | $37.3M | — | ||
| Q4 24 | $11.6M | — | ||
| Q3 24 | $44.4M | — | ||
| Q2 24 | $69.7M | — | ||
| Q1 24 | $59.3M | — |
自由现金流率EXPIVFS
| Q4 25 | 1.0% | — | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 3.9% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 5.4% | — | ||
| Q1 24 | 6.3% | — |
资本支出强度EXPIVFS
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.1% | — |
现金转化率EXPIVFS
| Q4 25 | — | — | ||
| Q3 25 | 8.26× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.75× | — | ||
| Q1 24 | — | — |
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% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
