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HOVNANIAN ENTERPRISES INC（HOV）与KB HOME（KBH）财务数据对比。点击上方公司名可切换其他公司
KB HOME的季度营收约是HOVNANIAN ENTERPRISES INC的2.1倍（$1.7B vs $817.9M）。KB HOME净利率更高（6.0% vs -0.1%，领先6.1%）。KB HOME同比增速更快（-15.3% vs -16.5%）。KB HOME自由现金流更多（$290.1M vs $164.0M）。过去两年HOVNANIAN ENTERPRISES INC的营收复合增速更高（17.3% vs 7.4%）
霍夫纳尼安企业是美国知名房地产企业，业务覆盖住宅开发全流程，包含设计、建造与销售，产品线丰富，不仅开发独立独栋住宅，也开发联排别墅、公寓以及养老住宅等高密度居住物业。
KB Home是美国知名住宅建造企业，1957年于密歇根州底特律成立，前身为Kaufman & Broad，是首家在纽约证券交易所上市的住宅建造商，总部现位于加利福尼亚州洛杉矶。
HOV vs KBH — 直观对比
营收规模更大
KBH
是对方的2.1倍
$817.9M
营收增速更快
KBH
高出1.2%
-16.5%
净利率更高
KBH
高出6.1%
-0.1%
自由现金流更多
KBH
多$126.1M
$164.0M
两年增速更快
HOV
近两年复合增速
7.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $817.9M | $1.7B |
| 净利润 | $-667.0K | $101.5M |
| 毛利率 | — | — |
| 营业利润率 | -0.5% | — |
| 净利率 | -0.1% | 6.0% |
| 营收同比 | -16.5% | -15.3% |
| 净利润同比 | -100.7% | -46.7% |
| 每股收益（稀释后） | $-0.57 | $1.55 |
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HOVKBH
| Q4 25 | $817.9M | $1.7B | ||
| Q3 25 | $800.6M | $1.6B | ||
| Q2 25 | $686.5M | $1.5B | ||
| Q1 25 | $673.6M | $1.4B | ||
| Q4 24 | $979.6M | $2.0B | ||
| Q3 24 | $722.7M | $1.8B | ||
| Q2 24 | $708.4M | $1.7B | ||
| Q1 24 | $594.2M | $1.5B |
净利润HOVKBH
| Q4 25 | $-667.0K | $101.5M | ||
| Q3 25 | $16.6M | $109.8M | ||
| Q2 25 | $19.7M | $107.9M | ||
| Q1 25 | $28.2M | $109.6M | ||
| Q4 24 | $94.3M | $190.6M | ||
| Q3 24 | $72.9M | $157.3M | ||
| Q2 24 | $50.8M | $168.4M | ||
| Q1 24 | $23.9M | $138.7M |
营业利润率HOVKBH
| Q4 25 | -0.5% | — | ||
| Q3 25 | 3.0% | — | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | 5.9% | — | ||
| Q4 24 | 12.0% | — | ||
| Q3 24 | 13.5% | — | ||
| Q2 24 | 9.8% | — | ||
| Q1 24 | 5.5% | — |
净利率HOVKBH
| Q4 25 | -0.1% | 6.0% | ||
| Q3 25 | 2.1% | 6.8% | ||
| Q2 25 | 2.9% | 7.1% | ||
| Q1 25 | 4.2% | 7.9% | ||
| Q4 24 | 9.6% | 9.5% | ||
| Q3 24 | 10.1% | 9.0% | ||
| Q2 24 | 7.2% | 9.9% | ||
| Q1 24 | 4.0% | 9.4% |
每股收益（稀释后）HOVKBH
| Q4 25 | $-0.57 | $1.55 | ||
| Q3 25 | $1.99 | $1.61 | ||
| Q2 25 | $2.43 | $1.50 | ||
| Q1 25 | $3.58 | $1.49 | ||
| Q4 24 | $12.47 | $2.50 | ||
| Q3 24 | $9.75 | $2.04 | ||
| Q2 24 | $6.66 | $2.15 | ||
| Q1 24 | $2.91 | $1.76 |
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 | — | — |
| 总债务越低越好 | $900.7M | — |
| 股东权益账面价值 | $830.9M | $3.9B |
| 总资产 | $2.6B | $6.7B |
| 负债/权益比越低杠杆越低 | 1.08× | — |
8季度趋势，按日历期对齐
总债务HOVKBH
| Q4 25 | $900.7M | — | ||
| Q3 25 | $861.9M | — | ||
| Q2 25 | $864.3M | — | ||
| Q1 25 | $893.7M | — | ||
| Q4 24 | $896.2M | — | ||
| Q3 24 | $898.7M | — | ||
| Q2 24 | $933.0M | — | ||
| Q1 24 | $934.6M | — |
股东权益HOVKBH
| Q4 25 | $830.9M | $3.9B | ||
| Q3 25 | $835.4M | $3.9B | ||
| Q2 25 | $820.4M | $4.0B | ||
| Q1 25 | $811.4M | $4.1B | ||
| Q4 24 | $800.3M | $4.1B | ||
| Q3 24 | $703.4M | $4.0B | ||
| Q2 24 | $647.0M | $4.0B | ||
| Q1 24 | $607.1M | $3.9B |
总资产HOVKBH
| Q4 25 | $2.6B | $6.7B | ||
| Q3 25 | $2.6B | $7.0B | ||
| Q2 25 | $2.6B | $7.0B | ||
| Q1 25 | $2.5B | $7.0B | ||
| Q4 24 | $2.6B | $6.9B | ||
| Q3 24 | $2.5B | $6.8B | ||
| Q2 24 | $2.3B | $6.8B | ||
| Q1 24 | $2.3B | $6.7B |
负债/权益比HOVKBH
| Q4 25 | 1.08× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.05× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.12× | — | ||
| Q3 24 | 1.28× | — | ||
| Q2 24 | 1.44× | — | ||
| Q1 24 | 1.54× | — |
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 | $169.1M | $303.8M |
| 自由现金流经营现金流 - 资本支出 | $164.0M | $290.1M |
| 自由现金流率自由现金流/营收 | 20.0% | 17.1% |
| 资本支出强度资本支出/营收 | 0.6% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 2.99× |
| 过去12个月自由现金流最近4个季度 | $166.2M | $287.3M |
8季度趋势，按日历期对齐
经营现金流HOVKBH
| Q4 25 | $169.1M | $303.8M | ||
| Q3 25 | $52.8M | $197.7M | ||
| Q2 25 | $22.3M | $168.4M | ||
| Q1 25 | $-55.9M | $-334.3M | ||
| Q4 24 | $115.8M | $362.6M | ||
| Q3 24 | $-92.3M | $-89.9M | ||
| Q2 24 | $89.1M | $61.5M | ||
| Q1 24 | $-89.0M | $28.5M |
自由现金流HOVKBH
| Q4 25 | $164.0M | $290.1M | ||
| Q3 25 | $45.8M | $185.8M | ||
| Q2 25 | $16.0M | $156.9M | ||
| Q1 25 | $-59.6M | $-345.5M | ||
| Q4 24 | $111.4M | $352.6M | ||
| Q3 24 | $-95.8M | $-99.4M | ||
| Q2 24 | $84.7M | $51.2M | ||
| Q1 24 | $-94.4M | $19.1M |
自由现金流率HOVKBH
| Q4 25 | 20.0% | 17.1% | ||
| Q3 25 | 5.7% | 11.5% | ||
| Q2 25 | 2.3% | 10.3% | ||
| Q1 25 | -8.8% | -24.8% | ||
| Q4 24 | 11.4% | 17.6% | ||
| Q3 24 | -13.3% | -5.7% | ||
| Q2 24 | 12.0% | 3.0% | ||
| Q1 24 | -15.9% | 1.3% |
资本支出强度HOVKBH
| Q4 25 | 0.6% | 0.8% | ||
| Q3 25 | 0.9% | 0.7% | ||
| Q2 25 | 0.9% | 0.8% | ||
| Q1 25 | 0.5% | 0.8% | ||
| Q4 24 | 0.5% | 0.5% | ||
| Q3 24 | 0.5% | 0.5% | ||
| Q2 24 | 0.6% | 0.6% | ||
| Q1 24 | 0.9% | 0.6% |
现金转化率HOVKBH
| Q4 25 | — | 2.99× | ||
| Q3 25 | 3.18× | 1.80× | ||
| Q2 25 | 1.13× | 1.56× | ||
| Q1 25 | -1.98× | -3.05× | ||
| Q4 24 | 1.23× | 1.90× | ||
| Q3 24 | -1.27× | -0.57× | ||
| Q2 24 | 1.75× | 0.37× | ||
| Q1 24 | -3.72× | 0.21× |
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
HOV
| Home Building | $789.8M | 97% |
| Financial Services | $28.1M | 3% |
| Management Fees | $7.1M | 1% |
KBH
| Home Building | $1.7B | 99% |
| Financial Service | $8.7M | 1% |
