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eXp World Holdings, Inc.（EXPI）与威世（VSH）财务数据对比。点击上方公司名可切换其他公司
eXp World Holdings, Inc.的季度营收约是威世的1.5倍（$1.2B vs $800.9M），威世净利率更高（0.1% vs -1.1%，领先1.2%），威世同比增速更快（12.1% vs 8.5%），威世自由现金流更多（$54.6M vs $11.9M），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs 3.6%）
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。
威世（Vishay Intertechnology）是美国知名的分立半导体与被动电子元器件制造商，由企业家菲利克斯·赞德曼创立。公司在以色列、亚洲、欧洲、美洲均设有生产基地，产品覆盖整流器、二极管、MOSFET、光电器件、精选集成电路、电阻器、电容器、电感器等品类，2024年营收达29亿美元，全球全职员工约2.27万人。
EXPI vs VSH — 直观对比
营收规模更大
EXPI
是对方的1.5倍
$800.9M
营收增速更快
VSH
高出3.5%
8.5%
净利率更高
VSH
高出1.2%
-1.1%
自由现金流更多
VSH
多$42.6M
$11.9M
两年增速更快
EXPI
近两年复合增速
3.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $800.9M |
| 净利润 | $-12.9M | $986.0K |
| 毛利率 | — | 19.6% |
| 营业利润率 | -1.1% | 1.8% |
| 净利率 | -1.1% | 0.1% |
| 营收同比 | 8.5% | 12.1% |
| 净利润同比 | -35.7% | 101.5% |
| 每股收益（稀释后） | $-0.08 | $0.01 |
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EXPIVSH
| Q4 25 | $1.2B | $800.9M | ||
| Q3 25 | $1.3B | $790.6M | ||
| Q2 25 | $1.3B | $762.3M | ||
| Q1 25 | $954.9M | $715.2M | ||
| Q4 24 | $1.1B | $714.7M | ||
| Q3 24 | $1.2B | $735.4M | ||
| Q2 24 | $1.3B | $741.2M | ||
| Q1 24 | $943.1M | $746.3M |
净利润EXPIVSH
| Q4 25 | $-12.9M | $986.0K | ||
| Q3 25 | $3.5M | $-7.9M | ||
| Q2 25 | $-2.3M | $2.0M | ||
| Q1 25 | $-11.0M | $-4.1M | ||
| Q4 24 | $-9.5M | $-66.1M | ||
| Q3 24 | $-8.5M | $-19.3M | ||
| Q2 24 | $12.4M | $23.5M | ||
| Q1 24 | $-15.6M | $30.9M |
毛利率EXPIVSH
| Q4 25 | — | 19.6% | ||
| Q3 25 | — | 19.5% | ||
| Q2 25 | — | 19.5% | ||
| Q1 25 | — | 19.0% | ||
| Q4 24 | — | 19.9% | ||
| Q3 24 | 99.9% | 20.5% | ||
| Q2 24 | 99.9% | 22.0% | ||
| Q1 24 | — | 22.8% |
营业利润率EXPIVSH
| Q4 25 | -1.1% | 1.8% | ||
| Q3 25 | 0.3% | 2.4% | ||
| Q2 25 | -0.2% | 2.9% | ||
| Q1 25 | -1.1% | 0.1% | ||
| Q4 24 | -1.0% | -7.9% | ||
| Q3 24 | -0.7% | -2.5% | ||
| Q2 24 | 1.4% | 5.1% | ||
| Q1 24 | -1.9% | 5.7% |
净利率EXPIVSH
| Q4 25 | -1.1% | 0.1% | ||
| Q3 25 | 0.3% | -1.0% | ||
| Q2 25 | -0.2% | 0.3% | ||
| Q1 25 | -1.2% | -0.6% | ||
| Q4 24 | -0.9% | -9.2% | ||
| Q3 24 | -0.7% | -2.6% | ||
| Q2 24 | 1.0% | 3.2% | ||
| Q1 24 | -1.7% | 4.1% |
每股收益（稀释后）EXPIVSH
| Q4 25 | $-0.08 | $0.01 | ||
| Q3 25 | $0.02 | $-0.06 | ||
| Q2 25 | $-0.01 | $0.01 | ||
| Q1 25 | $-0.07 | $-0.03 | ||
| Q4 24 | $-0.06 | $-0.48 | ||
| Q3 24 | $-0.06 | $-0.14 | ||
| Q2 24 | $0.08 | $0.17 | ||
| Q1 24 | $-0.10 | $0.22 |
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 | $515.0M |
| 总债务越低越好 | — | $950.9M |
| 股东权益账面价值 | $242.8M | $2.1B |
| 总资产 | $442.5M | $4.2B |
| 负债/权益比越低杠杆越低 | — | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资EXPIVSH
| Q4 25 | $124.2M | $515.0M | ||
| Q3 25 | $112.8M | $443.9M | ||
| Q2 25 | $94.6M | $473.9M | ||
| Q1 25 | $115.7M | $609.4M | ||
| Q4 24 | $113.6M | $590.3M | ||
| Q3 24 | $130.4M | $643.8M | ||
| Q2 24 | $108.4M | $672.7M | ||
| Q1 24 | $109.2M | $796.5M |
总债务EXPIVSH
| Q4 25 | — | $950.9M | ||
| Q3 25 | — | $919.7M | ||
| Q2 25 | — | $914.5M | ||
| Q1 25 | — | $988.2M | ||
| Q4 24 | — | $905.0M | ||
| Q3 24 | — | $820.8M | ||
| Q2 24 | — | $820.6M | ||
| Q1 24 | — | $819.4M |
股东权益EXPIVSH
| Q4 25 | $242.8M | $2.1B | ||
| Q3 25 | $235.3M | $2.1B | ||
| Q2 25 | $218.4M | $2.1B | ||
| Q1 25 | $212.0M | $2.0B | ||
| Q4 24 | $204.9M | $2.0B | ||
| Q3 24 | $211.1M | $2.2B | ||
| Q2 24 | $220.3M | $2.2B | ||
| Q1 24 | $222.4M | $2.2B |
总资产EXPIVSH
| Q4 25 | $442.5M | $4.2B | ||
| Q3 25 | $458.7M | $4.2B | ||
| Q2 25 | $481.2M | $4.2B | ||
| Q1 25 | $435.8M | $4.2B | ||
| Q4 24 | $390.7M | $4.1B | ||
| Q3 24 | $432.6M | $4.2B | ||
| Q2 24 | $457.4M | $4.2B | ||
| Q1 24 | $426.7M | $4.3B |
负债/权益比EXPIVSH
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.49× | ||
| Q4 24 | — | 0.45× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.38× | ||
| Q1 24 | — | 0.38× |
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 | $149.4M |
| 自由现金流经营现金流 - 资本支出 | $11.9M | $54.6M |
| 自由现金流率自由现金流/营收 | 1.0% | 6.8% |
| 资本支出强度资本支出/营收 | 0.2% | 11.8% |
| 现金转化率经营现金流/净利润 | — | 151.48× |
| 过去12个月自由现金流最近4个季度 | $109.0M | $-89.0M |
8季度趋势，按日历期对齐
经营现金流EXPIVSH
| Q4 25 | $13.8M | $149.4M | ||
| Q3 25 | $28.9M | $27.6M | ||
| Q2 25 | $36.1M | $-8.8M | ||
| Q1 25 | $39.8M | $16.1M | ||
| Q4 24 | $13.7M | $67.7M | ||
| Q3 24 | $46.0M | $50.6M | ||
| Q2 24 | $71.1M | $-24.7M | ||
| Q1 24 | $60.7M | $80.2M |
自由现金流EXPIVSH
| Q4 25 | $11.9M | $54.6M | ||
| Q3 25 | $26.6M | $-24.7M | ||
| Q2 25 | $33.3M | $-73.4M | ||
| Q1 25 | $37.3M | $-45.5M | ||
| Q4 24 | $11.6M | $-77.2M | ||
| Q3 24 | $44.4M | $-9.0M | ||
| Q2 24 | $69.7M | $-87.3M | ||
| Q1 24 | $59.3M | $27.1M |
自由现金流率EXPIVSH
| Q4 25 | 1.0% | 6.8% | ||
| Q3 25 | 2.0% | -3.1% | ||
| Q2 25 | 2.5% | -9.6% | ||
| Q1 25 | 3.9% | -6.4% | ||
| Q4 24 | 1.1% | -10.8% | ||
| Q3 24 | 3.6% | -1.2% | ||
| Q2 24 | 5.4% | -11.8% | ||
| Q1 24 | 6.3% | 3.6% |
资本支出强度EXPIVSH
| Q4 25 | 0.2% | 11.8% | ||
| Q3 25 | 0.2% | 6.6% | ||
| Q2 25 | 0.2% | 8.5% | ||
| Q1 25 | 0.3% | 8.6% | ||
| Q4 24 | 0.2% | 20.3% | ||
| Q3 24 | 0.1% | 8.1% | ||
| Q2 24 | 0.1% | 8.4% | ||
| Q1 24 | 0.1% | 7.1% |
现金转化率EXPIVSH
| Q4 25 | — | 151.48× | ||
| Q3 25 | 8.26× | — | ||
| Q2 25 | — | -4.39× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.75× | -1.05× | ||
| Q1 24 | — | 2.59× |
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% |
VSH
| Resistors Segment | $189.4M | 24% |
| Diodes Segment | $154.2M | 19% |
| Capacitors Segment | $136.5M | 17% |
| Other | $126.4M | 16% |
| Inductors Segment | $92.6M | 12% |
| Optoelectronic Components Segment | $55.7M | 7% |
| EMS Companies | $51.6M | 6% |
