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HOVNANIAN ENTERPRISES INC（HOV）与Taylor Morrison Home Corp（TMHC）财务数据对比。点击上方公司名可切换其他公司
Taylor Morrison Home Corp的季度营收约是HOVNANIAN ENTERPRISES INC的1.7倍（$1.4B vs $817.9M）。Taylor Morrison Home Corp净利率更高（7.1% vs -0.1%，领先7.2%）。HOVNANIAN ENTERPRISES INC同比增速更快（-16.5% vs -26.8%）。过去两年HOVNANIAN ENTERPRISES INC的营收复合增速更高（17.3% vs -16.5%）
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。
泰勒莫里森住房公司是美国规模最大的住宅建筑商之一，总部位于亚利桑那州斯科茨代尔，2007年7月由泰勒伍德罗与莫里森住房合并成立。公司业务覆盖亚利桑那、加利福尼亚、得克萨斯等十余个州，产品涵盖首次置业、中端及中高端住宅，可满足不同层级客户的住房需求。
HOV vs TMHC — 直观对比
营收规模更大
TMHC
是对方的1.7倍
$817.9M
营收增速更快
HOV
高出10.3%
-26.8%
净利率更高
TMHC
高出7.2%
-0.1%
两年增速更快
HOV
近两年复合增速
-16.5%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $817.9M | $1.4B |
| 净利润 | $-667.0K | $98.6M |
| 毛利率 | — | 21.0% |
| 营业利润率 | -0.5% | — |
| 净利率 | -0.1% | 7.1% |
| 营收同比 | -16.5% | -26.8% |
| 净利润同比 | -100.7% | -53.8% |
| 每股收益（稀释后） | $-0.57 | $1.12 |
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HOVTMHC
| Q1 26 | — | $1.4B | ||
| Q4 25 | $817.9M | $2.1B | ||
| Q3 25 | $800.6M | $2.1B | ||
| Q2 25 | $686.5M | $2.0B | ||
| Q1 25 | $673.6M | $1.9B | ||
| Q4 24 | $979.6M | $2.4B | ||
| Q3 24 | $722.7M | $2.1B | ||
| Q2 24 | $708.4M | $2.0B |
净利润HOVTMHC
| Q1 26 | — | $98.6M | ||
| Q4 25 | $-667.0K | $174.0M | ||
| Q3 25 | $16.6M | $201.4M | ||
| Q2 25 | $19.7M | $193.6M | ||
| Q1 25 | $28.2M | $213.5M | ||
| Q4 24 | $94.3M | $242.5M | ||
| Q3 24 | $72.9M | $251.1M | ||
| Q2 24 | $50.8M | $199.5M |
毛利率HOVTMHC
| Q1 26 | — | 21.0% | ||
| Q4 25 | — | 22.0% | ||
| Q3 25 | — | 22.7% | ||
| Q2 25 | — | 23.0% | ||
| Q1 25 | — | 24.4% | ||
| Q4 24 | — | 23.9% | ||
| Q3 24 | — | 25.0% | ||
| Q2 24 | — | 23.7% |
营业利润率HOVTMHC
| Q1 26 | — | — | ||
| 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% | — |
净利率HOVTMHC
| Q1 26 | — | 7.1% | ||
| Q4 25 | -0.1% | 8.3% | ||
| Q3 25 | 2.1% | 9.6% | ||
| Q2 25 | 2.9% | 9.5% | ||
| Q1 25 | 4.2% | 11.3% | ||
| Q4 24 | 9.6% | 10.3% | ||
| Q3 24 | 10.1% | 11.8% | ||
| Q2 24 | 7.2% | 10.0% |
每股收益（稀释后）HOVTMHC
| Q1 26 | — | $1.12 | ||
| Q4 25 | $-0.57 | $1.77 | ||
| Q3 25 | $1.99 | $2.01 | ||
| Q2 25 | $2.43 | $1.92 | ||
| Q1 25 | $3.58 | $2.07 | ||
| Q4 24 | $12.47 | $2.29 | ||
| Q3 24 | $9.75 | $2.37 | ||
| Q2 24 | $6.66 | $1.86 |
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 | — | $652.9M |
| 总债务越低越好 | $900.7M | — |
| 股东权益账面价值 | $830.9M | $6.2B |
| 总资产 | $2.6B | $9.8B |
| 负债/权益比越低杠杆越低 | 1.08× | — |
8季度趋势，按日历期对齐
现金及短期投资HOVTMHC
| Q1 26 | — | $652.9M | ||
| Q4 25 | — | $850.0M | ||
| Q3 25 | — | $370.6M | ||
| Q2 25 | — | $130.2M | ||
| Q1 25 | — | $377.8M | ||
| Q4 24 | — | $487.2M | ||
| Q3 24 | — | $256.4M | ||
| Q2 24 | — | $246.8M |
总债务HOVTMHC
| Q1 26 | — | — | ||
| Q4 25 | $900.7M | $2.3B | ||
| Q3 25 | $861.9M | $2.2B | ||
| Q2 25 | $864.3M | $2.1B | ||
| Q1 25 | $893.7M | $2.1B | ||
| Q4 24 | $896.2M | $2.1B | ||
| Q3 24 | $898.7M | $2.1B | ||
| Q2 24 | $933.0M | $2.2B |
股东权益HOVTMHC
| Q1 26 | — | $6.2B | ||
| Q4 25 | $830.9M | $6.3B | ||
| Q3 25 | $835.4M | $6.2B | ||
| Q2 25 | $820.4M | $6.1B | ||
| Q1 25 | $811.4M | $6.0B | ||
| Q4 24 | $800.3M | $5.9B | ||
| Q3 24 | $703.4M | $5.7B | ||
| Q2 24 | $647.0M | $5.5B |
总资产HOVTMHC
| Q1 26 | — | $9.8B | ||
| Q4 25 | $2.6B | $9.8B | ||
| Q3 25 | $2.6B | $9.6B | ||
| Q2 25 | $2.6B | $9.5B | ||
| Q1 25 | $2.5B | $9.4B | ||
| Q4 24 | $2.6B | $9.3B | ||
| Q3 24 | $2.5B | $9.3B | ||
| Q2 24 | $2.3B | $9.1B |
负债/权益比HOVTMHC
| Q1 26 | — | — | ||
| Q4 25 | 1.08× | 0.36× | ||
| Q3 25 | 1.03× | 0.35× | ||
| Q2 25 | 1.05× | 0.35× | ||
| Q1 25 | 1.10× | 0.35× | ||
| Q4 24 | 1.12× | 0.36× | ||
| Q3 24 | 1.28× | 0.37× | ||
| Q2 24 | 1.44× | 0.39× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $164.0M | — |
| 自由现金流率自由现金流/营收 | 20.0% | — |
| 资本支出强度资本支出/营收 | 0.6% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $166.2M | — |
8季度趋势，按日历期对齐
经营现金流HOVTMHC
| Q1 26 | — | — | ||
| Q4 25 | $169.1M | $646.4M | ||
| Q3 25 | $52.8M | $219.6M | ||
| Q2 25 | $22.3M | $-126.0M | ||
| Q1 25 | $-55.9M | $77.2M | ||
| Q4 24 | $115.8M | $438.2M | ||
| Q3 24 | $-92.3M | $135.9M | ||
| Q2 24 | $89.1M | $-233.3M |
自由现金流HOVTMHC
| Q1 26 | — | — | ||
| Q4 25 | $164.0M | $635.3M | ||
| Q3 25 | $45.8M | $206.6M | ||
| Q2 25 | $16.0M | $-133.6M | ||
| Q1 25 | $-59.6M | $68.7M | ||
| Q4 24 | $111.4M | $428.2M | ||
| Q3 24 | $-95.8M | $127.1M | ||
| Q2 24 | $84.7M | $-241.7M |
自由现金流率HOVTMHC
| Q1 26 | — | — | ||
| Q4 25 | 20.0% | 30.3% | ||
| Q3 25 | 5.7% | 9.9% | ||
| Q2 25 | 2.3% | -6.6% | ||
| Q1 25 | -8.8% | 3.6% | ||
| Q4 24 | 11.4% | 18.2% | ||
| Q3 24 | -13.3% | 6.0% | ||
| Q2 24 | 12.0% | -12.1% |
资本支出强度HOVTMHC
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 0.5% | ||
| Q3 25 | 0.9% | 0.6% | ||
| Q2 25 | 0.9% | 0.4% | ||
| Q1 25 | 0.5% | 0.4% | ||
| Q4 24 | 0.5% | 0.4% | ||
| Q3 24 | 0.5% | 0.4% | ||
| Q2 24 | 0.6% | 0.4% |
现金转化率HOVTMHC
| Q1 26 | — | — | ||
| Q4 25 | — | 3.71× | ||
| Q3 25 | 3.18× | 1.09× | ||
| Q2 25 | 1.13× | -0.65× | ||
| Q1 25 | -1.98× | 0.36× | ||
| Q4 24 | 1.23× | 1.81× | ||
| Q3 24 | -1.27× | 0.54× | ||
| Q2 24 | 1.75× | -1.17× |
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% |
TMHC
| Home closings revenue, net | $1.3B | 95% |
| Financial services revenue, net | $49.3M | 4% |
| Land closings revenue | $14.5M | 1% |
| Amenity and other revenue | $11.9M | 1% |
