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HOVNANIAN ENTERPRISES INC（HOV）与Tri Pointe Homes, Inc.（TPH）财务数据对比。点击上方公司名可切换其他公司
Tri Pointe Homes, Inc.的季度营收约是HOVNANIAN ENTERPRISES INC的1.2倍（$972.6M vs $817.9M）。Tri Pointe Homes, Inc.净利率更高（6.2% vs -0.1%，领先6.3%）。HOVNANIAN ENTERPRISES INC同比增速更快（-16.5% vs -22.4%）。Tri Pointe Homes, Inc.自由现金流更多（$213.2M vs $164.0M）。过去两年HOVNANIAN ENTERPRISES INC的营收复合增速更高（17.3% vs 1.8%）
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。
Tri Pointe Homes, Inc.是总部位于美国内华达州inclinet村的住宅建筑企业，为购房者提供融资及保险服务，业务覆盖亚利桑那、加利福尼亚、内华达、华盛顿、科罗拉多、得克萨斯、哥伦比亚特区、马里兰、北卡罗来纳、南卡罗来纳、弗吉尼亚等地区，按房屋交付量计算是美国第18大住宅建筑商。
HOV vs TPH — 直观对比
营收规模更大
TPH
是对方的1.2倍
$817.9M
营收增速更快
HOV
高出5.9%
-22.4%
净利率更高
TPH
高出6.3%
-0.1%
自由现金流更多
TPH
多$49.2M
$164.0M
两年增速更快
HOV
近两年复合增速
1.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $817.9M | $972.6M |
| 净利润 | $-667.0K | $60.2M |
| 毛利率 | — | — |
| 营业利润率 | -0.5% | 8.1% |
| 净利率 | -0.1% | 6.2% |
| 营收同比 | -16.5% | -22.4% |
| 净利润同比 | -100.7% | -53.4% |
| 每股收益（稀释后） | $-0.57 | $0.70 |
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HOVTPH
| Q4 25 | $817.9M | $972.6M | ||
| Q3 25 | $800.6M | $854.7M | ||
| Q2 25 | $686.5M | $902.4M | ||
| Q1 25 | $673.6M | $740.9M | ||
| Q4 24 | $979.6M | $1.3B | ||
| Q3 24 | $722.7M | $1.1B | ||
| Q2 24 | $708.4M | $1.2B | ||
| Q1 24 | $594.2M | $939.4M |
净利润HOVTPH
| Q4 25 | $-667.0K | $60.2M | ||
| Q3 25 | $16.6M | $56.1M | ||
| Q2 25 | $19.7M | $60.7M | ||
| Q1 25 | $28.2M | $64.0M | ||
| Q4 24 | $94.3M | $129.2M | ||
| Q3 24 | $72.9M | $111.8M | ||
| Q2 24 | $50.8M | $118.0M | ||
| Q1 24 | $23.9M | $99.1M |
营业利润率HOVTPH
| Q4 25 | -0.5% | 8.1% | ||
| Q3 25 | 3.0% | 8.1% | ||
| Q2 25 | 3.9% | 8.5% | ||
| Q1 25 | 5.9% | 10.4% | ||
| Q4 24 | 12.0% | 13.4% | ||
| Q3 24 | 13.5% | 12.6% | ||
| Q2 24 | 9.8% | 12.9% | ||
| Q1 24 | 5.5% | 12.3% |
净利率HOVTPH
| Q4 25 | -0.1% | 6.2% | ||
| Q3 25 | 2.1% | 6.6% | ||
| Q2 25 | 2.9% | 6.7% | ||
| Q1 25 | 4.2% | 8.6% | ||
| Q4 24 | 9.6% | 10.3% | ||
| Q3 24 | 10.1% | 9.8% | ||
| Q2 24 | 7.2% | 10.2% | ||
| Q1 24 | 4.0% | 10.5% |
每股收益（稀释后）HOVTPH
| Q4 25 | $-0.57 | $0.70 | ||
| Q3 25 | $1.99 | $0.64 | ||
| Q2 25 | $2.43 | $0.68 | ||
| Q1 25 | $3.58 | $0.70 | ||
| Q4 24 | $12.47 | $1.37 | ||
| Q3 24 | $9.75 | $1.18 | ||
| Q2 24 | $6.66 | $1.25 | ||
| Q1 24 | $2.91 | $1.03 |
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 | — | $982.8M |
| 总债务越低越好 | $900.7M | — |
| 股东权益账面价值 | $830.9M | $3.3B |
| 总资产 | $2.6B | $5.0B |
| 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HOVTPH
| Q4 25 | — | $982.8M | ||
| Q3 25 | — | $792.0M | ||
| Q2 25 | — | $622.6M | ||
| Q1 25 | — | $812.9M | ||
| Q4 24 | — | $970.0M | ||
| Q3 24 | — | $676.0M | ||
| Q2 24 | — | $492.9M | ||
| Q1 24 | — | $944.0M |
总债务HOVTPH
| Q4 25 | $900.7M | — | ||
| Q3 25 | $861.9M | — | ||
| Q2 25 | $864.3M | — | ||
| Q1 25 | $893.7M | — | ||
| Q4 24 | $896.2M | $646.5M | ||
| Q3 24 | $898.7M | — | ||
| Q2 24 | $933.0M | — | ||
| Q1 24 | $934.6M | — |
股东权益HOVTPH
| Q4 25 | $830.9M | $3.3B | ||
| Q3 25 | $835.4M | $3.3B | ||
| Q2 25 | $820.4M | $3.3B | ||
| Q1 25 | $811.4M | $3.3B | ||
| Q4 24 | $800.3M | $3.3B | ||
| Q3 24 | $703.4M | $3.2B | ||
| Q2 24 | $647.0M | $3.1B | ||
| Q1 24 | $607.1M | $3.0B |
总资产HOVTPH
| Q4 25 | $2.6B | $5.0B | ||
| Q3 25 | $2.6B | $5.0B | ||
| Q2 25 | $2.6B | $4.8B | ||
| Q1 25 | $2.5B | $4.8B | ||
| Q4 24 | $2.6B | $4.9B | ||
| Q3 24 | $2.5B | $4.8B | ||
| Q2 24 | $2.3B | $4.6B | ||
| Q1 24 | $2.3B | $5.0B |
负债/权益比HOVTPH
| Q4 25 | 1.08× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.05× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.12× | 0.19× | ||
| 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 | $221.0M |
| 自由现金流经营现金流 - 资本支出 | $164.0M | $213.2M |
| 自由现金流率自由现金流/营收 | 20.0% | 21.9% |
| 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 | — | 3.67× |
| 过去12个月自由现金流最近4个季度 | $166.2M | $128.5M |
8季度趋势，按日历期对齐
经营现金流HOVTPH
| Q4 25 | $169.1M | $221.0M | ||
| Q3 25 | $52.8M | $45.9M | ||
| Q2 25 | $22.3M | $-74.3M | ||
| Q1 25 | $-55.9M | $-31.2M | ||
| Q4 24 | $115.8M | $360.3M | ||
| Q3 24 | $-92.3M | $167.9M | ||
| Q2 24 | $89.1M | $23.1M | ||
| Q1 24 | $-89.0M | $144.7M |
自由现金流HOVTPH
| Q4 25 | $164.0M | $213.2M | ||
| Q3 25 | $45.8M | $39.1M | ||
| Q2 25 | $16.0M | $-84.5M | ||
| Q1 25 | $-59.6M | $-39.3M | ||
| Q4 24 | $111.4M | $355.9M | ||
| Q3 24 | $-95.8M | $161.5M | ||
| Q2 24 | $84.7M | $17.0M | ||
| Q1 24 | $-94.4M | $138.3M |
自由现金流率HOVTPH
| Q4 25 | 20.0% | 21.9% | ||
| Q3 25 | 5.7% | 4.6% | ||
| Q2 25 | 2.3% | -9.4% | ||
| Q1 25 | -8.8% | -5.3% | ||
| Q4 24 | 11.4% | 28.4% | ||
| Q3 24 | -13.3% | 14.1% | ||
| Q2 24 | 12.0% | 1.5% | ||
| Q1 24 | -15.9% | 14.7% |
资本支出强度HOVTPH
| Q4 25 | 0.6% | 0.8% | ||
| Q3 25 | 0.9% | 0.8% | ||
| Q2 25 | 0.9% | 1.1% | ||
| Q1 25 | 0.5% | 1.1% | ||
| Q4 24 | 0.5% | 0.3% | ||
| Q3 24 | 0.5% | 0.6% | ||
| Q2 24 | 0.6% | 0.5% | ||
| Q1 24 | 0.9% | 0.7% |
现金转化率HOVTPH
| Q4 25 | — | 3.67× | ||
| Q3 25 | 3.18× | 0.82× | ||
| Q2 25 | 1.13× | -1.22× | ||
| Q1 25 | -1.98× | -0.49× | ||
| Q4 24 | 1.23× | 2.79× | ||
| Q3 24 | -1.27× | 1.50× | ||
| Q2 24 | 1.75× | 0.20× | ||
| Q1 24 | -3.72× | 1.46× |
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% |
TPH
| West | $547.8M | 56% |
| Central | $245.1M | 25% |
| East | $161.8M | 17% |
| Financial Services Segment | $18.0M | 2% |
| Land | $7.9M | 1% |
