vs
Globe Life（GL）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
Globe Life的季度营收约是M/I HOMES, INC.的1.3倍（$1.5B vs $1.1B），Globe Life净利率更高（17.5% vs 5.6%，领先11.9%），Globe Life同比增速更快（3.6% vs -4.8%），Globe Life自由现金流更多（$330.1M vs $-13.0M），过去两年M/I HOMES, INC.的营收复合增速更高（4.7% vs 3.6%）
Globe Life Inc.（股票代码：GL）是总部位于美国得克萨斯州麦金尼的金融服务控股公司，在纽约证券交易所上市，通过旗下全资子公司开展业务，主营人寿保险、年金产品及补充健康保险产品。
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。
GL vs MHO — 直观对比
营收规模更大
GL
是对方的1.3倍
$1.1B
营收增速更快
GL
高出8.4%
-4.8%
净利率更高
GL
高出11.9%
5.6%
自由现金流更多
GL
多$343.1M
$-13.0M
两年增速更快
MHO
近两年复合增速
3.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.1B |
| 净利润 | $266.1M | $64.0M |
| 毛利率 | — | 17.4% |
| 营业利润率 | 21.7% | 6.5% |
| 净利率 | 17.5% | 5.6% |
| 营收同比 | 3.6% | -4.8% |
| 净利润同比 | 4.3% | -52.1% |
| 每股收益（稀释后） | $3.28 | $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GLMHO
| Q4 25 | $1.5B | $1.1B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.5B | $976.1M | ||
| Q4 24 | $1.5B | $1.2B | ||
| Q3 24 | $1.5B | $1.1B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.4B | $1.0B |
净利润GLMHO
| Q4 25 | $266.1M | $64.0M | ||
| Q3 25 | $387.8M | $106.5M | ||
| Q2 25 | $252.7M | $121.2M | ||
| Q1 25 | $254.6M | $111.2M | ||
| Q4 24 | $255.2M | $133.5M | ||
| Q3 24 | $303.0M | $145.4M | ||
| Q2 24 | $258.4M | $146.7M | ||
| Q1 24 | $254.2M | $138.1M |
毛利率GLMHO
| Q4 25 | — | 17.4% | ||
| Q3 25 | — | 24.5% | ||
| Q2 25 | — | 24.7% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | 26.1% | 27.1% | ||
| Q2 24 | 23.3% | 27.9% | ||
| Q1 24 | 23.1% | 27.1% |
营业利润率GLMHO
| Q4 25 | 21.7% | 6.5% | ||
| Q3 25 | 31.5% | 12.0% | ||
| Q2 25 | 21.2% | 13.4% | ||
| Q1 25 | 21.4% | 14.4% | ||
| Q4 24 | 21.3% | 13.6% | ||
| Q3 24 | 26.3% | 15.9% | ||
| Q2 24 | 23.5% | 16.8% | ||
| Q1 24 | 23.1% | 16.6% |
净利率GLMHO
| Q4 25 | 17.5% | 5.6% | ||
| Q3 25 | 25.6% | 9.4% | ||
| Q2 25 | 17.1% | 10.4% | ||
| Q1 25 | 17.2% | 11.4% | ||
| Q4 24 | 17.4% | 11.1% | ||
| Q3 24 | 20.8% | 12.7% | ||
| Q2 24 | 17.9% | 13.2% | ||
| Q1 24 | 18.0% | 13.2% |
每股收益（稀释后）GLMHO
| Q4 25 | $3.28 | $2.42 | ||
| Q3 25 | $4.73 | $3.92 | ||
| Q2 25 | $3.05 | $4.42 | ||
| Q1 25 | $3.01 | $3.98 | ||
| Q4 24 | $3.00 | $4.71 | ||
| Q3 24 | $3.44 | $5.10 | ||
| Q2 24 | $2.83 | $5.12 | ||
| Q1 24 | $2.67 | $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 | $314.7M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.0B | $3.2B |
| 总资产 | $30.8B | $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GLMHO
| Q4 25 | $314.7M | — | ||
| Q3 25 | $62.8M | — | ||
| Q2 25 | $116.7M | — | ||
| Q1 25 | $134.1M | — | ||
| Q4 24 | $85.0M | — | ||
| Q3 24 | $100.5M | — | ||
| Q2 24 | $100.6M | — | ||
| Q1 24 | $58.4M | — |
股东权益GLMHO
| Q4 25 | $6.0B | $3.2B | ||
| Q3 25 | $5.7B | $3.1B | ||
| Q2 25 | $5.4B | $3.1B | ||
| Q1 25 | $5.4B | $3.0B | ||
| Q4 24 | $5.3B | $2.9B | ||
| Q3 24 | $4.6B | $2.8B | ||
| Q2 24 | $5.2B | $2.7B | ||
| Q1 24 | $5.0B | $2.6B |
总资产GLMHO
| Q4 25 | $30.8B | $4.8B | ||
| Q3 25 | $30.5B | $4.8B | ||
| Q2 25 | $29.8B | $4.7B | ||
| Q1 25 | $29.7B | $4.6B | ||
| Q4 24 | $29.1B | $4.5B | ||
| Q3 24 | $29.6B | $4.5B | ||
| Q2 24 | $28.3B | $4.3B | ||
| Q1 24 | $28.6B | $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 | $350.6M | $-8.7M |
| 自由现金流经营现金流 - 资本支出 | $330.1M | $-13.0M |
| 自由现金流率自由现金流/营收 | 21.7% | -1.1% |
| 资本支出强度资本支出/营收 | 1.3% | 0.4% |
| 现金转化率经营现金流/净利润 | 1.32× | -0.14× |
| 过去12个月自由现金流最近4个季度 | $1.3B | $127.7M |
8季度趋势，按日历期对齐
经营现金流GLMHO
| Q4 25 | $350.6M | $-8.7M | ||
| Q3 25 | $306.0M | $43.4M | ||
| Q2 25 | $307.9M | $37.8M | ||
| Q1 25 | $431.9M | $64.9M | ||
| Q4 24 | $336.9M | $104.4M | ||
| Q3 24 | $340.6M | $-67.9M | ||
| Q2 24 | $374.1M | $27.5M | ||
| Q1 24 | $350.8M | $115.8M |
自由现金流GLMHO
| Q4 25 | $330.1M | $-13.0M | ||
| Q3 25 | $208.7M | $42.0M | ||
| Q2 25 | $295.0M | $35.1M | ||
| Q1 25 | $420.1M | $63.5M | ||
| Q4 24 | $321.9M | $102.3M | ||
| Q3 24 | $311.3M | $-68.5M | ||
| Q2 24 | $356.5M | $22.0M | ||
| Q1 24 | $341.7M | $115.5M |
自由现金流率GLMHO
| Q4 25 | 21.7% | -1.1% | ||
| Q3 25 | 13.8% | 3.7% | ||
| Q2 25 | 19.9% | 3.0% | ||
| Q1 25 | 28.4% | 6.5% | ||
| Q4 24 | 22.0% | 8.5% | ||
| Q3 24 | 21.4% | -6.0% | ||
| Q2 24 | 24.8% | 2.0% | ||
| Q1 24 | 24.1% | 11.0% |
资本支出强度GLMHO
| Q4 25 | 1.3% | 0.4% | ||
| Q3 25 | 6.4% | 0.1% | ||
| Q2 25 | 0.9% | 0.2% | ||
| Q1 25 | 0.8% | 0.1% | ||
| Q4 24 | 1.0% | 0.2% | ||
| Q3 24 | 2.0% | 0.1% | ||
| Q2 24 | 1.2% | 0.5% | ||
| Q1 24 | 0.6% | 0.0% |
现金转化率GLMHO
| Q4 25 | 1.32× | -0.14× | ||
| Q3 25 | 0.79× | 0.41× | ||
| Q2 25 | 1.22× | 0.31× | ||
| Q1 25 | 1.70× | 0.58× | ||
| Q4 24 | 1.32× | 0.78× | ||
| Q3 24 | 1.12× | -0.47× | ||
| Q2 24 | 1.45× | 0.19× | ||
| Q1 24 | 1.38× | 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
GL
| Life Segment | $849.6M | 56% |
| Health Segment | $392.3M | 26% |
| Investment Segment | $281.4M | 19% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
