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格罗方德（GFS）与M/I HOMES, INC.（MHO）财务数据对比。点击上方公司名可切换其他公司
格罗方德的季度营收约是M/I HOMES, INC.的1.5倍（$1.7B vs $1.1B），格罗方德净利率更高（14.8% vs 5.6%，领先9.2%），格罗方德同比增速更快（-2.9% vs -4.8%），过去两年M/I HOMES, INC.的营收复合增速更高（4.7% vs -4.3%）
格罗方德是跨国半导体代工及设计企业，注册地为开曼群岛，总部位于美国纽约州马耳他。公司2009年3月由AMD制造业务分拆成立，2021年10月完成首次公开募股，阿联酋主权财富基金穆巴达拉投资公司目前仍持有其82%的多数股权。
M/I Homes是美国领先的住宅建筑企业，主要设计、建造及销售独栋住宅、联排住宅与复式公寓，业务覆盖美国多州，面向首次置业、改善型及高端置业群体，提供节能住宅产品与个性化定制服务。
GFS vs MHO — 直观对比
营收规模更大
GFS
是对方的1.5倍
$1.1B
营收增速更快
GFS
高出1.9%
-4.8%
净利率更高
GFS
高出9.2%
5.6%
两年增速更快
MHO
近两年复合增速
-4.3%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.1B |
| 净利润 | $249.0M | $64.0M |
| 毛利率 | 24.8% | 17.4% |
| 营业利润率 | 11.6% | 6.5% |
| 净利率 | 14.8% | 5.6% |
| 营收同比 | -2.9% | -4.8% |
| 净利润同比 | 39.9% | -52.1% |
| 每股收益（稀释后） | $0.44 | $2.42 |
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GFSMHO
| Q4 25 | — | $1.1B | ||
| Q3 25 | $1.7B | $1.1B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.6B | $976.1M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $1.7B | $1.1B | ||
| Q2 24 | $1.6B | $1.1B | ||
| Q1 24 | $1.5B | $1.0B |
净利润GFSMHO
| Q4 25 | — | $64.0M | ||
| Q3 25 | $249.0M | $106.5M | ||
| Q2 25 | $228.0M | $121.2M | ||
| Q1 25 | $211.0M | $111.2M | ||
| Q4 24 | — | $133.5M | ||
| Q3 24 | $178.0M | $145.4M | ||
| Q2 24 | $155.0M | $146.7M | ||
| Q1 24 | $134.0M | $138.1M |
毛利率GFSMHO
| Q4 25 | — | 17.4% | ||
| Q3 25 | 24.8% | 24.5% | ||
| Q2 25 | 24.2% | 24.7% | ||
| Q1 25 | 22.4% | 25.9% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | 23.8% | 27.1% | ||
| Q2 24 | 24.2% | 27.9% | ||
| Q1 24 | 25.4% | 27.1% |
营业利润率GFSMHO
| Q4 25 | — | 6.5% | ||
| Q3 25 | 11.6% | 12.0% | ||
| Q2 25 | 11.6% | 13.4% | ||
| Q1 25 | 9.5% | 14.4% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | 10.6% | 15.9% | ||
| Q2 24 | 9.5% | 16.8% | ||
| Q1 24 | 9.5% | 16.6% |
净利率GFSMHO
| Q4 25 | — | 5.6% | ||
| Q3 25 | 14.8% | 9.4% | ||
| Q2 25 | 13.5% | 10.4% | ||
| Q1 25 | 13.3% | 11.4% | ||
| Q4 24 | — | 11.1% | ||
| Q3 24 | 10.2% | 12.7% | ||
| Q2 24 | 9.5% | 13.2% | ||
| Q1 24 | 8.7% | 13.2% |
每股收益（稀释后）GFSMHO
| Q4 25 | — | $2.42 | ||
| Q3 25 | $0.44 | $3.92 | ||
| Q2 25 | $0.41 | $4.42 | ||
| Q1 25 | $0.38 | $3.98 | ||
| Q4 24 | — | $4.71 | ||
| Q3 24 | $0.32 | $5.10 | ||
| Q2 24 | $0.28 | $5.12 | ||
| Q1 24 | $0.24 | $4.78 |
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 | $2.0B | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $11.8B | $3.2B |
| 总资产 | $16.7B | $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GFSMHO
| Q4 25 | — | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.2B | — | ||
| Q1 24 | $2.2B | — |
股东权益GFSMHO
| Q4 25 | — | $3.2B | ||
| Q3 25 | $11.8B | $3.1B | ||
| Q2 25 | $11.5B | $3.1B | ||
| Q1 25 | $11.1B | $3.0B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $11.6B | $2.8B | ||
| Q2 24 | $11.3B | $2.7B | ||
| Q1 24 | $11.3B | $2.6B |
总资产GFSMHO
| Q4 25 | — | $4.8B | ||
| Q3 25 | $16.7B | $4.8B | ||
| Q2 25 | $16.8B | $4.7B | ||
| Q1 25 | $16.5B | $4.6B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | $18.1B | $4.5B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.2B |
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 | $595.0M | $-8.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-13.0M |
| 自由现金流率自由现金流/营收 | — | -1.1% |
| 资本支出强度资本支出/营收 | — | 0.4% |
| 现金转化率经营现金流/净利润 | 2.39× | -0.14× |
| 过去12个月自由现金流最近4个季度 | — | $127.7M |
8季度趋势，按日历期对齐
经营现金流GFSMHO
| Q4 25 | — | $-8.7M | ||
| Q3 25 | $595.0M | $43.4M | ||
| Q2 25 | $431.0M | $37.8M | ||
| Q1 25 | $331.0M | $64.9M | ||
| Q4 24 | — | $104.4M | ||
| Q3 24 | $375.0M | $-67.9M | ||
| Q2 24 | $402.0M | $27.5M | ||
| Q1 24 | $488.0M | $115.8M |
自由现金流GFSMHO
| Q4 25 | — | $-13.0M | ||
| Q3 25 | — | $42.0M | ||
| Q2 25 | — | $35.1M | ||
| Q1 25 | — | $63.5M | ||
| Q4 24 | — | $102.3M | ||
| Q3 24 | — | $-68.5M | ||
| Q2 24 | — | $22.0M | ||
| Q1 24 | — | $115.5M |
自由现金流率GFSMHO
| Q4 25 | — | -1.1% | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | — | -6.0% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 11.0% |
资本支出强度GFSMHO
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.0% |
现金转化率GFSMHO
| Q4 25 | — | -0.14× | ||
| Q3 25 | 2.39× | 0.41× | ||
| Q2 25 | 1.89× | 0.31× | ||
| Q1 25 | 1.57× | 0.58× | ||
| Q4 24 | — | 0.78× | ||
| Q3 24 | 2.11× | -0.47× | ||
| Q2 24 | 2.59× | 0.19× | ||
| Q1 24 | 3.64× | 0.84× |
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
GFS
| Smart Mobile Devices | $752.0M | 45% |
| Automotive | $306.0M | 18% |
| Home And Industrial Io T | $258.0M | 15% |
| Goods Or Services Transferred Over Time | $198.0M | 12% |
| Communications Infrastructure Datacenter | $175.0M | 10% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
