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家得宝（HD）与NVR, Inc.（NVR）财务数据对比。点击上方公司名可切换其他公司
家得宝的季度营收约是NVR, Inc.的15.2倍（$41.4B vs $2.7B），NVR, Inc.净利率更高（13.4% vs 8.7%，领先4.7%），家得宝同比增速更快（2.8% vs -4.7%），家得宝自由现金流更多（$3.1B vs $436.0M），过去两年家得宝的营收复合增速更高（9.0% vs 7.8%）
家得宝是美国跨国家装零售巨头，也是美国规模最大的家装零售商，主营工具、建材、家电等产品销售，同时提供燃油、运输租赁等服务。公司总部位于佐治亚州科布县，通信地址设于亚特兰大，2021年员工数达49.06万，营收超1510亿美元。
NVR, Inc.是总部位于美国弗吉尼亚州雷斯顿的知名住宅建造企业，同时运营抵押贷款银行及产权服务相关业务。公司业务主要布局美国东海岸，覆盖14个州及华盛顿特区，2021年有22%的营收来自华盛顿大都会区。
HD vs NVR — 直观对比
营收规模更大
HD
是对方的15.2倍
$2.7B
营收增速更快
HD
高出7.5%
-4.7%
净利率更高
NVR
高出4.7%
8.7%
自由现金流更多
HD
多$2.7B
$436.0M
两年增速更快
HD
近两年复合增速
7.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $41.4B | $2.7B |
| 净利润 | $3.6B | $363.8M |
| 毛利率 | 33.4% | — |
| 营业利润率 | 12.9% | — |
| 净利率 | 8.7% | 13.4% |
| 营收同比 | 2.8% | -4.7% |
| 净利润同比 | -1.3% | -20.5% |
| 每股收益（稀释后） | $3.62 | $120.85 |
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HDNVR
| Q4 25 | $41.4B | $2.7B | ||
| Q3 25 | $45.3B | $2.6B | ||
| Q2 25 | $39.9B | $2.6B | ||
| Q1 25 | $39.7B | $2.4B | ||
| Q4 24 | $40.2B | $2.8B | ||
| Q3 24 | $43.2B | $2.7B | ||
| Q2 24 | $36.4B | $2.6B | ||
| Q1 24 | $34.8B | $2.3B |
净利润HDNVR
| Q4 25 | $3.6B | $363.8M | ||
| Q3 25 | $4.6B | $342.7M | ||
| Q2 25 | $3.4B | $333.7M | ||
| Q1 25 | $3.0B | $299.6M | ||
| Q4 24 | $3.6B | $457.4M | ||
| Q3 24 | $4.6B | $429.3M | ||
| Q2 24 | $3.6B | $400.9M | ||
| Q1 24 | $2.8B | $394.3M |
毛利率HDNVR
| Q4 25 | 33.4% | — | ||
| Q3 25 | 33.4% | — | ||
| Q2 25 | 33.8% | — | ||
| Q1 25 | 32.8% | — | ||
| Q4 24 | 33.4% | — | ||
| Q3 24 | 33.4% | — | ||
| Q2 24 | 34.1% | — | ||
| Q1 24 | 33.1% | — |
营业利润率HDNVR
| Q4 25 | 12.9% | — | ||
| Q3 25 | 14.5% | — | ||
| Q2 25 | 12.9% | — | ||
| Q1 25 | 11.3% | — | ||
| Q4 24 | 13.5% | — | ||
| Q3 24 | 15.1% | — | ||
| Q2 24 | 13.9% | — | ||
| Q1 24 | 11.9% | — |
净利率HDNVR
| Q4 25 | 8.7% | 13.4% | ||
| Q3 25 | 10.1% | 13.1% | ||
| Q2 25 | 8.6% | 12.8% | ||
| Q1 25 | 7.5% | 12.5% | ||
| Q4 24 | 9.1% | 16.1% | ||
| Q3 24 | 10.6% | 15.7% | ||
| Q2 24 | 9.9% | 15.3% | ||
| Q1 24 | 8.1% | 16.9% |
每股收益（稀释后）HDNVR
| Q4 25 | $3.62 | $120.85 | ||
| Q3 25 | $4.58 | $112.33 | ||
| Q2 25 | $3.45 | $108.54 | ||
| Q1 25 | $3.01 | $94.83 | ||
| Q4 24 | $3.67 | $139.09 | ||
| Q3 24 | $4.60 | $130.50 | ||
| Q2 24 | $3.63 | $120.69 | ||
| Q1 24 | $2.83 | $116.41 |
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 | $1.7B | — |
| 总债务越低越好 | $46.3B | — |
| 股东权益账面价值 | $12.1B | $3.9B |
| 总资产 | $106.3B | $5.9B |
| 负债/权益比越低杠杆越低 | 3.82× | — |
8季度趋势，按日历期对齐
现金及短期投资HDNVR
| Q4 25 | $1.7B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $3.8B | — |
总债务HDNVR
| Q4 25 | $46.3B | — | ||
| Q3 25 | $45.9B | — | ||
| Q2 25 | $47.3B | — | ||
| Q1 25 | $48.5B | — | ||
| Q4 24 | $50.1B | — | ||
| Q3 24 | $51.9B | — | ||
| Q2 24 | $42.1B | — | ||
| Q1 24 | $42.7B | — |
股东权益HDNVR
| Q4 25 | $12.1B | $3.9B | ||
| Q3 25 | $10.7B | $4.0B | ||
| Q2 25 | $8.0B | $3.8B | ||
| Q1 25 | $6.6B | $4.0B | ||
| Q4 24 | $5.8B | $4.2B | ||
| Q3 24 | $4.4B | $4.3B | ||
| Q2 24 | $1.8B | $4.1B | ||
| Q1 24 | $1.0B | $4.3B |
总资产HDNVR
| Q4 25 | $106.3B | $5.9B | ||
| Q3 25 | $100.0B | $6.0B | ||
| Q2 25 | $99.2B | $5.9B | ||
| Q1 25 | $96.1B | $6.2B | ||
| Q4 24 | $97.3B | $6.4B | ||
| Q3 24 | $96.8B | $6.5B | ||
| Q2 24 | $79.2B | $6.4B | ||
| Q1 24 | $76.5B | $6.5B |
负债/权益比HDNVR
| Q4 25 | 3.82× | — | ||
| Q3 25 | 4.31× | — | ||
| Q2 25 | 5.95× | — | ||
| Q1 25 | 7.30× | — | ||
| Q4 24 | 8.65× | — | ||
| Q3 24 | 11.74× | — | ||
| Q2 24 | 23.11× | — | ||
| Q1 24 | 40.94× | — |
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 | $4.0B | $439.7M |
| 自由现金流经营现金流 - 资本支出 | $3.1B | $436.0M |
| 自由现金流率自由现金流/营收 | 7.5% | 16.1% |
| 资本支出强度资本支出/营收 | 2.2% | 0.1% |
| 现金转化率经营现金流/净利润 | 1.11× | 1.21× |
| 过去12个月自由现金流最近4个季度 | $13.9B | $1.1B |
8季度趋势，按日历期对齐
经营现金流HDNVR
| Q4 25 | $4.0B | $439.7M | ||
| Q3 25 | $4.6B | $438.7M | ||
| Q2 25 | $4.3B | $35.1M | ||
| Q1 25 | $4.7B | $207.8M | ||
| Q4 24 | $4.2B | $637.0M | ||
| Q3 24 | $5.4B | $358.3M | ||
| Q2 24 | $5.5B | $232.7M | ||
| Q1 24 | $4.7B | $146.5M |
自由现金流HDNVR
| Q4 25 | $3.1B | $436.0M | ||
| Q3 25 | $3.7B | $433.3M | ||
| Q2 25 | $3.5B | $26.8M | ||
| Q1 25 | $3.6B | $200.7M | ||
| Q4 24 | $3.4B | $631.5M | ||
| Q3 24 | $4.7B | $350.1M | ||
| Q2 24 | $4.7B | $226.3M | ||
| Q1 24 | $3.9B | $137.5M |
自由现金流率HDNVR
| Q4 25 | 7.5% | 16.1% | ||
| Q3 25 | 8.2% | 16.6% | ||
| Q2 25 | 8.8% | 1.0% | ||
| Q1 25 | 9.0% | 8.4% | ||
| Q4 24 | 8.5% | 22.2% | ||
| Q3 24 | 10.9% | 12.8% | ||
| Q2 24 | 12.8% | 8.7% | ||
| Q1 24 | 11.1% | 5.9% |
资本支出强度HDNVR
| Q4 25 | 2.2% | 0.1% | ||
| Q3 25 | 2.0% | 0.2% | ||
| Q2 25 | 2.0% | 0.3% | ||
| Q1 25 | 2.8% | 0.3% | ||
| Q4 24 | 2.0% | 0.2% | ||
| Q3 24 | 1.7% | 0.3% | ||
| Q2 24 | 2.3% | 0.2% | ||
| Q1 24 | 2.5% | 0.4% |
现金转化率HDNVR
| Q4 25 | 1.11× | 1.21× | ||
| Q3 25 | 1.02× | 1.28× | ||
| Q2 25 | 1.26× | 0.11× | ||
| Q1 25 | 1.56× | 0.69× | ||
| Q4 24 | 1.16× | 1.39× | ||
| Q3 24 | 1.19× | 0.83× | ||
| Q2 24 | 1.53× | 0.58× | ||
| Q1 24 | 1.69× | 0.37× |
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
HD
| Major Product Line Building Materials | $13.6B | 33% |
| Major Product Line Dcor | $12.9B | 31% |
| Major Product Line Hardlines | $10.9B | 26% |
| Other | $1.5B | 4% |
| Services | $1.5B | 4% |
| GMS Inc | $892.0M | 2% |
NVR
| Home Building Segment | $2.6B | 97% |
| Mortgage Banking Segment | $77.4M | 3% |
