vs
eXp World Holdings, Inc.（EXPI）与微博公司（WB）财务数据对比。点击上方公司名可切换其他公司
微博公司的季度营收约是eXp World Holdings, Inc.的1.1倍（$1.3B vs $1.2B），微博公司净利率更高（35.7% vs -1.1%，领先36.8%），过去两年微博公司的营收复合增速更高（22.6% vs 12.4%）
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。
微博公司是中国知名的社交网络企业，旗下运营的新浪微博是国内极具影响力的微博客平台，公司总部位于中国北京，为数以亿计的用户提供社交互动、资讯传播、内容创作等多元互联网服务。
EXPI vs WB — 直观对比
营收规模更大
WB
是对方的1.1倍
$1.2B
净利率更高
WB
高出36.8%
-1.1%
两年增速更快
WB
近两年复合增速
12.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.3B |
| 净利润 | $-12.9M | $458.3M |
| 毛利率 | — | — |
| 营业利润率 | -1.1% | 29.1% |
| 净利率 | -1.1% | 35.7% |
| 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EXPIWB
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $841.7M | ||
| Q1 25 | $954.9M | $396.9M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.3B | $833.4M | ||
| Q1 24 | $943.1M | $395.5M |
净利润EXPIWB
| Q4 25 | $-12.9M | — | ||
| Q3 25 | $3.5M | $458.3M | ||
| Q2 25 | $-2.3M | $234.8M | ||
| Q1 25 | $-11.0M | $108.1M | ||
| Q4 24 | $-9.5M | — | ||
| Q3 24 | $-8.5M | $297.4M | ||
| Q2 24 | $12.4M | $164.6M | ||
| Q1 24 | $-15.6M | $51.1M |
毛利率EXPIWB
| 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EXPIWB
| Q4 25 | -1.1% | — | ||
| Q3 25 | 0.3% | 29.1% | ||
| Q2 25 | -0.2% | 30.4% | ||
| Q1 25 | -1.1% | 27.8% | ||
| Q4 24 | -1.0% | — | ||
| Q3 24 | -0.7% | 29.0% | ||
| Q2 24 | 1.4% | 28.2% | ||
| Q1 24 | -1.9% | 25.2% |
净利率EXPIWB
| Q4 25 | -1.1% | — | ||
| Q3 25 | 0.3% | 35.7% | ||
| Q2 25 | -0.2% | 27.9% | ||
| Q1 25 | -1.2% | 27.2% | ||
| Q4 24 | -0.9% | — | ||
| Q3 24 | -0.7% | 22.9% | ||
| Q2 24 | 1.0% | 19.8% | ||
| Q1 24 | -1.7% | 12.9% |
每股收益（稀释后）EXPIWB
| 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 | $1.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $242.8M | $3.9B |
| 总资产 | $442.5M | $6.9B |
| 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EXPIWB
| Q4 25 | $124.2M | — | ||
| Q3 25 | $112.8M | $1.1B | ||
| Q2 25 | $94.6M | $1.2B | ||
| Q1 25 | $115.7M | $1.2B | ||
| Q4 24 | $113.6M | — | ||
| Q3 24 | $130.4M | — | ||
| Q2 24 | $108.4M | $1.9B | ||
| Q1 24 | $109.2M | $2.1B |
股东权益EXPIWB
| Q4 25 | $242.8M | — | ||
| Q3 25 | $235.3M | $3.9B | ||
| Q2 25 | $218.4M | $3.6B | ||
| Q1 25 | $212.0M | $3.5B | ||
| Q4 24 | $204.9M | — | ||
| Q3 24 | $211.1M | — | ||
| Q2 24 | $220.3M | $3.4B | ||
| Q1 24 | $222.4M | $3.3B |
总资产EXPIWB
| Q4 25 | $442.5M | — | ||
| Q3 25 | $458.7M | $6.9B | ||
| Q2 25 | $481.2M | $6.5B | ||
| Q1 25 | $435.8M | $6.7B | ||
| Q4 24 | $390.7M | — | ||
| Q3 24 | $432.6M | — | ||
| Q2 24 | $457.4M | $7.1B | ||
| Q1 24 | $426.7M | $7.3B |
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EXPIWB
| 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EXPIWB
| 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EXPIWB
| 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EXPIWB
| 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EXPIWB
| 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% |
WB
| Income from operations | $373.2M | 29% |
| Shares used in computing diluted net income per share attributable to Weibos shareholders | $268.1M | 21% |
| Shares used in computing basic net income per share attributable to Weibos shareholders | $238.6M | 19% |
| Value-added services | $186.1M | 14% |
| Less: Income tax expenses | $113.2M | 9% |
| Investment related income, net | $45.0M | 4% |
| Product development | $16.7M | 1% |
| General and administrative | $10.6M | 1% |
| Sales and marketing | $7.1M | 1% |
| Accretion to redeemable non-controlling interests | $3.0M | 0% |
