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Five Point Holdings, LLC（FPH）与REDWOOD TRUST INC（RWT）财务数据对比。点击上方公司名可切换其他公司
REDWOOD TRUST INC的季度营收约是Five Point Holdings, LLC的1.9倍（$25.9M vs $13.6M），REDWOOD TRUST INC净利率更高（77.2% vs -16.4%，领先93.6%），Five Point Holdings, LLC同比增速更快（3.2% vs -6.1%），过去两年REDWOOD TRUST INC的营收复合增速更高（-41.0% vs -48.5%）
Five Point Holdings, LLC是美国头部房地产开发企业，主要在加利福尼亚州高需求市场打造大型总体规划综合社区，项目融合住宅、办公、零售、公共配套与休闲设施，为当地居民构建活力、可持续的宜居宜业环境。
Redwood Trust Inc是总部位于美国的专业房地产投资信托公司，主营住宅与商业抵押贷款、抵押贷款支持证券及房地产信贷类资产的投资管理，核心业务覆盖住宅抵押贷款发放、商业地产信贷和投资服务，客户以机构投资者和房地产市场参与者为主。
FPH vs RWT — 直观对比
营收规模更大
RWT
是对方的1.9倍
$13.6M
营收增速更快
FPH
高出9.3%
-6.1%
净利率更高
RWT
高出93.6%
-16.4%
两年增速更快
RWT
近两年复合增速
-48.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $13.6M | $25.9M |
| 净利润 | $-2.2M | $20.0M |
| 毛利率 | — | — |
| 营业利润率 | -43.5% | — |
| 净利率 | -16.4% | 77.2% |
| 营收同比 | 3.2% | -6.1% |
| 净利润同比 | -109.6% | 402.6% |
| 每股收益（稀释后） | — | $0.11 |
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FPHRWT
| Q1 26 | $13.6M | — | ||
| Q4 25 | $75.9M | $25.9M | ||
| Q3 25 | $13.5M | $15.0M | ||
| Q2 25 | $7.5M | $13.8M | ||
| Q1 25 | $13.2M | $27.9M | ||
| Q4 24 | $159.8M | $27.6M | ||
| Q3 24 | $17.0M | $25.5M | ||
| Q2 24 | $51.2M | $67.4M |
净利润FPHRWT
| Q1 26 | $-2.2M | — | ||
| Q4 25 | $58.7M | $20.0M | ||
| Q3 25 | $21.1M | $-7.7M | ||
| Q2 25 | $3.3M | $-98.5M | ||
| Q1 25 | $23.3M | $16.1M | ||
| Q4 24 | $121.0M | $-6.6M | ||
| Q3 24 | $4.8M | $14.8M | ||
| Q2 24 | $14.7M | $15.5M |
营业利润率FPHRWT
| Q1 26 | -43.5% | — | ||
| Q4 25 | 89.0% | — | ||
| Q3 25 | — | -9.0% | ||
| Q2 25 | — | -679.0% | ||
| Q1 25 | — | 80.2% | ||
| Q4 24 | 87.5% | -1.3% | ||
| Q3 24 | 83.6% | 86.1% | ||
| Q2 24 | 86.1% | 30.3% |
净利率FPHRWT
| Q1 26 | -16.4% | — | ||
| Q4 25 | 77.3% | 77.2% | ||
| Q3 25 | 156.2% | -51.4% | ||
| Q2 25 | 44.4% | -712.0% | ||
| Q1 25 | 177.0% | 57.8% | ||
| Q4 24 | 75.7% | -24.0% | ||
| Q3 24 | 28.0% | 58.1% | ||
| Q2 24 | 28.8% | 23.0% |
每股收益（稀释后）FPHRWT
| Q1 26 | — | — | ||
| Q4 25 | — | $0.11 | ||
| Q3 25 | — | $-0.08 | ||
| Q2 25 | — | $-0.76 | ||
| Q1 25 | — | $0.10 | ||
| Q4 24 | — | $-0.08 | ||
| Q3 24 | — | $0.09 | ||
| Q2 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 | $332.6M | $255.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.3B | $982.6M |
| 总资产 | $3.2B | $23.7B |
| 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FPHRWT
| Q1 26 | $332.6M | — | ||
| Q4 25 | $425.5M | $255.7M | ||
| Q3 25 | $351.1M | $226.3M | ||
| Q2 25 | $456.6M | $302.0M | ||
| Q1 25 | $528.3M | $259.9M | ||
| Q4 24 | $430.9M | $245.2M | ||
| Q3 24 | $224.5M | $253.7M | ||
| Q2 24 | $217.4M | $275.6M |
股东权益FPHRWT
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $982.6M | ||
| Q3 25 | $2.3B | $999.0M | ||
| Q2 25 | $2.2B | $1.1B | ||
| Q1 25 | $2.2B | $1.2B | ||
| Q4 24 | $2.2B | $1.2B | ||
| Q3 24 | $2.0B | $1.2B | ||
| Q2 24 | $2.0B | $1.2B |
总资产FPHRWT
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $23.7B | ||
| Q3 25 | $3.2B | $22.6B | ||
| Q2 25 | $3.2B | $21.3B | ||
| Q1 25 | $3.2B | $19.9B | ||
| Q4 24 | $3.1B | $18.3B | ||
| Q3 24 | $2.9B | $18.4B | ||
| Q2 24 | $2.9B | $16.5B |
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 | $-44.5M | $-10.1B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 0.0% | — |
| 现金转化率经营现金流/净利润 | — | -504.15× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流FPHRWT
| Q1 26 | $-44.5M | — | ||
| Q4 25 | $105.2M | $-10.1B | ||
| Q3 25 | $40.4M | $-2.7B | ||
| Q2 25 | $-71.6M | $-2.1B | ||
| Q1 25 | $56.7M | $-2.0B | ||
| Q4 24 | $116.0M | $-5.9B | ||
| Q3 24 | $-18.0M | $-2.1B | ||
| Q2 24 | $-23.2M | $-2.0B |
自由现金流FPHRWT
| Q1 26 | — | — | ||
| Q4 25 | $105.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-71.7M | — | ||
| Q1 25 | $56.7M | — | ||
| Q4 24 | $115.2M | — | ||
| Q3 24 | $-18.2M | — | ||
| Q2 24 | $-23.6M | — |
自由现金流率FPHRWT
| Q1 26 | — | — | ||
| Q4 25 | 138.4% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -959.3% | — | ||
| Q1 25 | 430.9% | — | ||
| Q4 24 | 72.1% | — | ||
| Q3 24 | -106.9% | — | ||
| Q2 24 | -46.1% | — |
资本支出强度FPHRWT
| Q1 26 | 0.0% | — | ||
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | 0.7% | — |
现金转化率FPHRWT
| Q1 26 | — | — | ||
| Q4 25 | 1.79× | -504.15× | ||
| Q3 25 | 1.92× | — | ||
| Q2 25 | -21.58× | — | ||
| Q1 25 | 2.44× | -120.92× | ||
| Q4 24 | 0.96× | — | ||
| Q3 24 | -3.77× | -140.86× | ||
| Q2 24 | -1.58× | -126.56× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
