vs
HOVNANIAN ENTERPRISES INC（HOV）与Trade Desk (The)（TTD）财务数据对比。点击上方公司名可切换其他公司
Trade Desk (The)的季度营收约是HOVNANIAN ENTERPRISES INC的1.0倍（$846.8M vs $817.9M），Trade Desk (The)净利率更高（22.1% vs -0.1%，领先22.2%），Trade Desk (The)同比增速更快（14.3% vs -16.5%），Trade Desk (The)自由现金流更多（$285.3M vs $164.0M），过去两年Trade Desk (The)的营收复合增速更高（31.3% vs 17.3%）
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。
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
HOV vs TTD — 直观对比
营收规模更大
TTD
是对方的1.0倍
$817.9M
营收增速更快
TTD
高出30.8%
-16.5%
净利率更高
TTD
高出22.2%
-0.1%
自由现金流更多
TTD
多$121.3M
$164.0M
两年增速更快
TTD
近两年复合增速
17.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $817.9M | $846.8M |
| 净利润 | $-667.0K | $186.9M |
| 毛利率 | — | 80.7% |
| 营业利润率 | -0.5% | 30.3% |
| 净利率 | -0.1% | 22.1% |
| 营收同比 | -16.5% | 14.3% |
| 净利润同比 | -100.7% | 2.6% |
| 每股收益（稀释后） | $-0.57 | $0.39 |
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HOVTTD
| Q4 25 | $817.9M | $846.8M | ||
| Q3 25 | $800.6M | $739.4M | ||
| Q2 25 | $686.5M | $694.0M | ||
| Q1 25 | $673.6M | $616.0M | ||
| Q4 24 | $979.6M | $741.0M | ||
| Q3 24 | $722.7M | $628.0M | ||
| Q2 24 | $708.4M | $584.5M | ||
| Q1 24 | $594.2M | $491.3M |
净利润HOVTTD
| Q4 25 | $-667.0K | $186.9M | ||
| Q3 25 | $16.6M | $115.5M | ||
| Q2 25 | $19.7M | $90.1M | ||
| Q1 25 | $28.2M | $50.7M | ||
| Q4 24 | $94.3M | $182.2M | ||
| Q3 24 | $72.9M | $94.2M | ||
| Q2 24 | $50.8M | $85.0M | ||
| Q1 24 | $23.9M | $31.7M |
毛利率HOVTTD
| Q4 25 | — | 80.7% | ||
| Q3 25 | — | 78.1% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | — | 76.8% | ||
| Q4 24 | — | 81.7% | ||
| Q3 24 | — | 80.5% | ||
| Q2 24 | — | 81.1% | ||
| Q1 24 | — | 78.9% |
营业利润率HOVTTD
| Q4 25 | -0.5% | 30.3% | ||
| Q3 25 | 3.0% | 21.8% | ||
| Q2 25 | 3.9% | 16.8% | ||
| Q1 25 | 5.9% | 8.8% | ||
| Q4 24 | 12.0% | 26.4% | ||
| Q3 24 | 13.5% | 17.3% | ||
| Q2 24 | 9.8% | 16.2% | ||
| Q1 24 | 5.5% | 5.8% |
净利率HOVTTD
| Q4 25 | -0.1% | 22.1% | ||
| Q3 25 | 2.1% | 15.6% | ||
| Q2 25 | 2.9% | 13.0% | ||
| Q1 25 | 4.2% | 8.2% | ||
| Q4 24 | 9.6% | 24.6% | ||
| Q3 24 | 10.1% | 15.0% | ||
| Q2 24 | 7.2% | 14.5% | ||
| Q1 24 | 4.0% | 6.4% |
每股收益（稀释后）HOVTTD
| Q4 25 | $-0.57 | $0.39 | ||
| Q3 25 | $1.99 | $0.23 | ||
| Q2 25 | $2.43 | $0.18 | ||
| Q1 25 | $3.58 | $0.10 | ||
| Q4 24 | $12.47 | $0.36 | ||
| Q3 24 | $9.75 | $0.19 | ||
| Q2 24 | $6.66 | $0.17 | ||
| Q1 24 | $2.91 | $0.06 |
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 | — | $1.3B |
| 总债务越低越好 | $900.7M | — |
| 股东权益账面价值 | $830.9M | $2.5B |
| 总资产 | $2.6B | $6.2B |
| 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HOVTTD
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.4B |
总债务HOVTTD
| 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HOVTTD
| Q4 25 | $830.9M | $2.5B | ||
| Q3 25 | $835.4M | $2.6B | ||
| Q2 25 | $820.4M | $2.7B | ||
| Q1 25 | $811.4M | $2.7B | ||
| Q4 24 | $800.3M | $2.9B | ||
| Q3 24 | $703.4M | $2.6B | ||
| Q2 24 | $647.0M | $2.4B | ||
| Q1 24 | $607.1M | $2.2B |
总资产HOVTTD
| Q4 25 | $2.6B | $6.2B | ||
| Q3 25 | $2.6B | $5.9B | ||
| Q2 25 | $2.6B | $6.0B | ||
| Q1 25 | $2.5B | $5.7B | ||
| Q4 24 | $2.6B | $6.1B | ||
| Q3 24 | $2.5B | $5.5B | ||
| Q2 24 | $2.3B | $5.2B | ||
| Q1 24 | $2.3B | $4.7B |
负债/权益比HOVTTD
| 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 | $311.6M |
| 自由现金流经营现金流 - 资本支出 | $164.0M | $285.3M |
| 自由现金流率自由现金流/营收 | 20.0% | 33.7% |
| 资本支出强度资本支出/营收 | 0.6% | 3.1% |
| 现金转化率经营现金流/净利润 | — | 1.67× |
| 过去12个月自由现金流最近4个季度 | $166.2M | $795.7M |
8季度趋势，按日历期对齐
经营现金流HOVTTD
| Q4 25 | $169.1M | $311.6M | ||
| Q3 25 | $52.8M | $224.7M | ||
| Q2 25 | $22.3M | $165.0M | ||
| Q1 25 | $-55.9M | $291.4M | ||
| Q4 24 | $115.8M | $199.4M | ||
| Q3 24 | $-92.3M | $273.3M | ||
| Q2 24 | $89.1M | $81.3M | ||
| Q1 24 | $-89.0M | $185.5M |
自由现金流HOVTTD
| Q4 25 | $164.0M | $285.3M | ||
| Q3 25 | $45.8M | $158.3M | ||
| Q2 25 | $16.0M | $119.8M | ||
| Q1 25 | $-59.6M | $232.3M | ||
| Q4 24 | $111.4M | $179.2M | ||
| Q3 24 | $-95.8M | $224.6M | ||
| Q2 24 | $84.7M | $59.1M | ||
| Q1 24 | $-94.4M | $178.2M |
自由现金流率HOVTTD
| Q4 25 | 20.0% | 33.7% | ||
| Q3 25 | 5.7% | 21.4% | ||
| Q2 25 | 2.3% | 17.3% | ||
| Q1 25 | -8.8% | 37.7% | ||
| Q4 24 | 11.4% | 24.2% | ||
| Q3 24 | -13.3% | 35.8% | ||
| Q2 24 | 12.0% | 10.1% | ||
| Q1 24 | -15.9% | 36.3% |
资本支出强度HOVTTD
| Q4 25 | 0.6% | 3.1% | ||
| Q3 25 | 0.9% | 9.0% | ||
| Q2 25 | 0.9% | 6.5% | ||
| Q1 25 | 0.5% | 9.6% | ||
| Q4 24 | 0.5% | 2.7% | ||
| Q3 24 | 0.5% | 7.8% | ||
| Q2 24 | 0.6% | 3.8% | ||
| Q1 24 | 0.9% | 1.5% |
现金转化率HOVTTD
| Q4 25 | — | 1.67× | ||
| Q3 25 | 3.18× | 1.94× | ||
| Q2 25 | 1.13× | 1.83× | ||
| Q1 25 | -1.98× | 5.75× | ||
| Q4 24 | 1.23× | 1.09× | ||
| Q3 24 | -1.27× | 2.90× | ||
| Q2 24 | 1.75× | 0.96× | ||
| Q1 24 | -3.72× | 5.86× |
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% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
