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Installed Building Products, Inc.（IBP）与LGI Homes, Inc.（LGIH）财务数据对比。点击上方公司名可切换其他公司
Installed Building Products, Inc.的季度营收约是LGI Homes, Inc.的1.6倍（$747.5M vs $474.0M），Installed Building Products, Inc.净利率更高（10.2% vs 3.7%，领先6.6%），Installed Building Products, Inc.同比增速更快（-0.4% vs -15.0%），过去两年LGI Homes, Inc.的营收复合增速更高（10.1% vs 3.9%）
Installed Building Products, Inc.是美国领先的建筑产品安装服务商，主营绝缘材料、排水沟、车库门、消防系统及窗帘等产品的专业安装服务，覆盖住宅新建、翻新改造及商业建筑三大领域，业务遍及美国大部分地区。
LGI Homes是一家总部位于美国得克萨斯州的新建住宅开发商，业务聚焦美国西南部地区。据《建筑商》杂志统计，该公司目前是美国第十大住宅建筑商，2019年共交付房屋7690套，较2018年增长18.1%，全年房屋销售营收达18亿美元，行业规模位居美国前列。
IBP vs LGIH — 直观对比
营收规模更大
IBP
是对方的1.6倍
$474.0M
营收增速更快
IBP
高出14.6%
-15.0%
净利率更高
IBP
高出6.6%
3.7%
两年增速更快
LGIH
近两年复合增速
3.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $747.5M | $474.0M |
| 净利润 | $76.6M | $17.3M |
| 毛利率 | 35.0% | 17.7% |
| 营业利润率 | 14.6% | 3.9% |
| 净利率 | 10.2% | 3.7% |
| 营收同比 | -0.4% | -15.0% |
| 净利润同比 | 14.5% | -66.0% |
| 每股收益（稀释后） | $2.81 | $0.74 |
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IBPLGIH
| Q4 25 | $747.5M | $474.0M | ||
| Q3 25 | $778.2M | $396.6M | ||
| Q2 25 | $760.3M | $483.5M | ||
| Q1 25 | $684.8M | $351.4M | ||
| Q4 24 | $750.2M | $557.4M | ||
| Q3 24 | $760.6M | $651.9M | ||
| Q2 24 | $737.6M | $602.5M | ||
| Q1 24 | $692.9M | $390.9M |
净利润IBPLGIH
| Q4 25 | $76.6M | $17.3M | ||
| Q3 25 | $74.4M | $19.7M | ||
| Q2 25 | $69.0M | $31.5M | ||
| Q1 25 | $45.4M | $4.0M | ||
| Q4 24 | $66.9M | $50.9M | ||
| Q3 24 | $68.6M | $69.6M | ||
| Q2 24 | $65.2M | $58.6M | ||
| Q1 24 | $55.9M | $17.1M |
毛利率IBPLGIH
| Q4 25 | 35.0% | 17.7% | ||
| Q3 25 | 34.0% | 21.5% | ||
| Q2 25 | 34.2% | 22.9% | ||
| Q1 25 | 32.7% | 21.0% | ||
| Q4 24 | 33.6% | 22.9% | ||
| Q3 24 | 33.8% | 25.1% | ||
| Q2 24 | 34.1% | 25.0% | ||
| Q1 24 | 33.8% | 23.4% |
营业利润率IBPLGIH
| Q4 25 | 14.6% | 3.9% | ||
| Q3 25 | 13.7% | 5.4% | ||
| Q2 25 | 13.3% | 8.2% | ||
| Q1 25 | 10.2% | 0.0% | ||
| Q4 24 | 13.1% | 8.2% | ||
| Q3 24 | 13.3% | 12.3% | ||
| Q2 24 | 12.9% | 11.2% | ||
| Q1 24 | 12.7% | 4.8% |
净利率IBPLGIH
| Q4 25 | 10.2% | 3.7% | ||
| Q3 25 | 9.6% | 5.0% | ||
| Q2 25 | 9.1% | 6.5% | ||
| Q1 25 | 6.6% | 1.1% | ||
| Q4 24 | 8.9% | 9.1% | ||
| Q3 24 | 9.0% | 10.7% | ||
| Q2 24 | 8.8% | 9.7% | ||
| Q1 24 | 8.1% | 4.4% |
每股收益（稀释后）IBPLGIH
| Q4 25 | $2.81 | $0.74 | ||
| Q3 25 | $2.74 | $0.85 | ||
| Q2 25 | $2.52 | $1.36 | ||
| Q1 25 | $1.64 | $0.17 | ||
| Q4 24 | $2.39 | $2.15 | ||
| Q3 24 | $2.44 | $2.95 | ||
| Q2 24 | $2.30 | $2.48 | ||
| Q1 24 | $1.97 | $0.72 |
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 | $321.9M | — |
| 总债务越低越好 | $886.6M | $1.7B |
| 股东权益账面价值 | $709.9M | $2.1B |
| 总资产 | $2.1B | $3.9B |
| 负债/权益比越低杠杆越低 | 1.25× | 0.79× |
8季度趋势，按日历期对齐
现金及短期投资IBPLGIH
| Q4 25 | $321.9M | — | ||
| Q3 25 | $333.3M | — | ||
| Q2 25 | $305.2M | — | ||
| Q1 25 | $298.7M | — | ||
| Q4 24 | $327.6M | $53.2M | ||
| Q3 24 | $406.2M | — | ||
| Q2 24 | $380.3M | — | ||
| Q1 24 | $399.9M | — |
总债务IBPLGIH
| Q4 25 | $886.6M | $1.7B | ||
| Q3 25 | $880.8M | — | ||
| Q2 25 | $876.1M | — | ||
| Q1 25 | $872.4M | — | ||
| Q4 24 | $874.8M | $1.5B | ||
| Q3 24 | $872.3M | — | ||
| Q2 24 | $875.8M | — | ||
| Q1 24 | $875.0M | — |
股东权益IBPLGIH
| Q4 25 | $709.9M | $2.1B | ||
| Q3 25 | $678.6M | $2.1B | ||
| Q2 25 | $664.5M | $2.1B | ||
| Q1 25 | $660.9M | $2.0B | ||
| Q4 24 | $705.3M | $2.0B | ||
| Q3 24 | $716.4M | $2.0B | ||
| Q2 24 | $685.3M | $1.9B | ||
| Q1 24 | $679.2M | $1.9B |
总资产IBPLGIH
| Q4 25 | $2.1B | $3.9B | ||
| Q3 25 | $2.1B | $4.0B | ||
| Q2 25 | $2.0B | $4.0B | ||
| Q1 25 | $2.0B | $3.9B | ||
| Q4 24 | $2.1B | $3.8B | ||
| Q3 24 | $2.1B | $3.8B | ||
| Q2 24 | $2.0B | $3.7B | ||
| Q1 24 | $2.0B | $3.5B |
负债/权益比IBPLGIH
| Q4 25 | 1.25× | 0.79× | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 1.32× | — | ||
| Q1 25 | 1.32× | — | ||
| Q4 24 | 1.24× | 0.73× | ||
| Q3 24 | 1.22× | — | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 1.29× | — |
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 | $64.9M | $86.8M |
| 自由现金流经营现金流 - 资本支出 | $49.3M | — |
| 自由现金流率自由现金流/营收 | 6.6% | — |
| 资本支出强度资本支出/营收 | 2.1% | 0.0% |
| 现金转化率经营现金流/净利润 | 0.85× | 5.01× |
| 过去12个月自由现金流最近4个季度 | $300.8M | — |
8季度趋势，按日历期对齐
经营现金流IBPLGIH
| Q4 25 | $64.9M | $86.8M | ||
| Q3 25 | $124.0M | $-13.2M | ||
| Q2 25 | $90.4M | $-86.4M | ||
| Q1 25 | $92.1M | $-127.1M | ||
| Q4 24 | $74.8M | $57.0M | ||
| Q3 24 | $101.4M | $-17.8M | ||
| Q2 24 | $79.0M | $-83.5M | ||
| Q1 24 | $84.8M | $-99.5M |
自由现金流IBPLGIH
| Q4 25 | $49.3M | — | ||
| Q3 25 | $104.8M | $-13.3M | ||
| Q2 25 | $74.8M | $-86.4M | ||
| Q1 25 | $71.9M | $-128.0M | ||
| Q4 24 | $52.9M | $56.4M | ||
| Q3 24 | $77.3M | $-17.8M | ||
| Q2 24 | $58.2M | $-83.8M | ||
| Q1 24 | $63.0M | $-100.5M |
自由现金流率IBPLGIH
| Q4 25 | 6.6% | — | ||
| Q3 25 | 13.5% | -3.3% | ||
| Q2 25 | 9.8% | -17.9% | ||
| Q1 25 | 10.5% | -36.4% | ||
| Q4 24 | 7.1% | 10.1% | ||
| Q3 24 | 10.2% | -2.7% | ||
| Q2 24 | 7.9% | -13.9% | ||
| Q1 24 | 9.1% | -25.7% |
资本支出强度IBPLGIH
| Q4 25 | 2.1% | 0.0% | ||
| Q3 25 | 2.5% | 0.0% | ||
| Q2 25 | 2.1% | 0.0% | ||
| Q1 25 | 2.9% | 0.2% | ||
| Q4 24 | 2.9% | 0.1% | ||
| Q3 24 | 3.2% | 0.0% | ||
| Q2 24 | 2.8% | 0.0% | ||
| Q1 24 | 3.1% | 0.3% |
现金转化率IBPLGIH
| Q4 25 | 0.85× | 5.01× | ||
| Q3 25 | 1.67× | -0.67× | ||
| Q2 25 | 1.31× | -2.74× | ||
| Q1 25 | 2.03× | -31.83× | ||
| Q4 24 | 1.12× | 1.12× | ||
| Q3 24 | 1.48× | -0.26× | ||
| Q2 24 | 1.21× | -1.43× | ||
| Q1 24 | 1.52× | -5.83× |
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
IBP
| Residential New Construction | $488.6M | 65% |
| Other Customer Installation | $67.8M | 9% |
| Shower Doors Shelving And Mirrors | $53.5M | 7% |
| Other Building Products | $47.7M | 6% |
| Fireproofing And Firestopping | $37.6M | 5% |
| Rain Gutters | $31.3M | 4% |
| Window Blinds | $18.0M | 2% |
| Related Party | $6.7M | 1% |
LGIH
| West Reportable Segment | $128.2M | 27% |
| Southeast Reportable Segment | $118.9M | 25% |
| Central Reportable Segment | $105.8M | 22% |
| Florida Reportable Segment | $69.2M | 15% |
| Northwest Reportable Segment | $51.8M | 11% |
