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Lennar（LEN）与甲骨文（ORCL）财务数据对比。点击上方公司名可切换其他公司
甲骨文的季度营收约是Lennar的1.7倍（$16.1B vs $9.4B），甲骨文净利率更高（38.2% vs 5.2%，领先33.0%），甲骨文同比增速更快（14.2% vs -5.8%），Lennar自由现金流更多（$1.7B vs $-10.0B），过去两年Lennar的营收复合增速更高（13.2% vs 10.0%）
Lennar Corporation是总部位于美国佛罗里达州迈阿密-戴德县的住宅建筑企业，截至2025年按房屋销量统计为美国第二大住宅建筑商。公司业务覆盖多户型及单户住宅租赁物业投资、高端地产开发，旗下LenX板块布局地产科技，另有Lennar Mortgage提供按揭贷款服务。
甲骨文公司是全球知名的企业软件公司，主打数据库软件、企业级应用软件、云基础设施与云服务等业务，为全球各行业的企业提供数字化转型、数据管理与业务运营的技术解决方案，在全球企业级科技领域占据重要地位。
LEN vs ORCL — 直观对比
营收规模更大
ORCL
是对方的1.7倍
$9.4B
营收增速更快
ORCL
高出20.0%
-5.8%
净利率更高
ORCL
高出33.0%
5.2%
自由现金流更多
LEN
多$11.6B
$-10.0B
两年增速更快
LEN
近两年复合增速
10.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $9.4B | $16.1B |
| 净利润 | $490.2M | $6.1B |
| 毛利率 | — | — |
| 营业利润率 | 7.3% | 29.5% |
| 净利率 | 5.2% | 38.2% |
| 营收同比 | -5.8% | 14.2% |
| 净利润同比 | -55.3% | 94.7% |
| 每股收益（稀释后） | — | $2.10 |
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LENORCL
| Q4 25 | $9.4B | $16.1B | ||
| Q3 25 | $8.8B | $14.9B | ||
| Q2 25 | $8.4B | $15.9B | ||
| Q1 25 | $7.6B | $14.1B | ||
| Q4 24 | $9.9B | $14.1B | ||
| Q3 24 | $9.4B | $13.3B | ||
| Q2 24 | $8.8B | $14.3B | ||
| Q1 24 | $7.3B | $13.3B |
净利润LENORCL
| Q4 25 | $490.2M | $6.1B | ||
| Q3 25 | $591.0M | $2.9B | ||
| Q2 25 | $477.4M | $3.4B | ||
| Q1 25 | $519.5M | $2.9B | ||
| Q4 24 | $1.1B | $3.2B | ||
| Q3 24 | $1.2B | $2.9B | ||
| Q2 24 | $954.3M | $3.1B | ||
| Q1 24 | $719.3M | $2.4B |
营业利润率LENORCL
| Q4 25 | 7.3% | 29.5% | ||
| Q3 25 | 9.0% | 28.7% | ||
| Q2 25 | 7.7% | 32.1% | ||
| Q1 25 | 9.1% | 30.8% | ||
| Q4 24 | 14.7% | 30.0% | ||
| Q3 24 | 16.3% | 30.0% | ||
| Q2 24 | 14.4% | 32.8% | ||
| Q1 24 | 12.7% | 28.2% |
净利率LENORCL
| Q4 25 | 5.2% | 38.2% | ||
| Q3 25 | 6.7% | 19.6% | ||
| Q2 25 | 5.7% | 21.5% | ||
| Q1 25 | 6.8% | 20.8% | ||
| Q4 24 | 11.0% | 22.4% | ||
| Q3 24 | 12.3% | 22.0% | ||
| Q2 24 | 10.9% | 22.0% | ||
| Q1 24 | 9.8% | 18.1% |
每股收益（稀释后）LENORCL
| Q4 25 | — | $2.10 | ||
| Q3 25 | $2.29 | $1.01 | ||
| Q2 25 | $1.81 | $1.19 | ||
| Q1 25 | $1.96 | $1.02 | ||
| Q4 24 | $4.03 | $1.10 | ||
| Q3 24 | $4.26 | $1.03 | ||
| Q2 24 | $3.45 | $1.11 | ||
| Q1 24 | $2.57 | $0.85 |
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 | $3.8B | $19.2B |
| 总债务越低越好 | $5.9B | — |
| 股东权益账面价值 | $22.0B | $30.0B |
| 总资产 | $34.4B | $205.0B |
| 负债/权益比越低杠杆越低 | 0.27× | — |
8季度趋势，按日历期对齐
现金及短期投资LENORCL
| Q4 25 | $3.8B | $19.2B | ||
| Q3 25 | — | $10.4B | ||
| Q2 25 | — | $10.8B | ||
| Q1 25 | — | $17.4B | ||
| Q4 24 | $4.9B | $10.9B | ||
| Q3 24 | — | $10.6B | ||
| Q2 24 | — | $10.5B | ||
| Q1 24 | — | $9.5B |
总债务LENORCL
| Q4 25 | $5.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益LENORCL
| Q4 25 | $22.0B | $30.0B | ||
| Q3 25 | $22.6B | $24.2B | ||
| Q2 25 | $22.6B | $20.5B | ||
| Q1 25 | $22.7B | $16.7B | ||
| Q4 24 | $27.9B | $13.7B | ||
| Q3 24 | $27.4B | $10.8B | ||
| Q2 24 | $26.9B | $8.7B | ||
| Q1 24 | $26.6B | $5.6B |
总资产LENORCL
| Q4 25 | $34.4B | $205.0B | ||
| Q3 25 | $34.9B | $180.4B | ||
| Q2 25 | $34.4B | $168.4B | ||
| Q1 25 | $35.0B | $161.4B | ||
| Q4 24 | $41.3B | $148.5B | ||
| Q3 24 | $39.7B | $144.2B | ||
| Q2 24 | $38.7B | $141.0B | ||
| Q1 24 | $39.0B | $137.1B |
负债/权益比LENORCL
| Q4 25 | 0.27× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.15× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $1.8B | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $1.7B | $-10.0B |
| 自由现金流率自由现金流/营收 | 17.9% | -62.1% |
| 资本支出强度资本支出/营收 | 0.9% | 74.9% |
| 现金转化率经营现金流/净利润 | 3.59× | 0.34× |
| 过去12个月自由现金流最近4个季度 | $28.2M | $-13.2B |
8季度趋势，按日历期对齐
经营现金流LENORCL
| Q4 25 | $1.8B | $2.1B | ||
| Q3 25 | $-158.6M | $8.1B | ||
| Q2 25 | $-1.1B | $6.2B | ||
| Q1 25 | $-289.0M | $5.9B | ||
| Q4 24 | $974.5M | $1.3B | ||
| Q3 24 | $819.2M | $7.4B | ||
| Q2 24 | $241.8M | $6.1B | ||
| Q1 24 | $367.9M | $5.5B |
自由现金流LENORCL
| Q4 25 | $1.7B | $-10.0B | ||
| Q3 25 | $-190.8M | $-362.0M | ||
| Q2 25 | $-1.1B | $-2.9B | ||
| Q1 25 | $-345.1M | $71.0M | ||
| Q4 24 | $933.1M | $-2.7B | ||
| Q3 24 | $800.8M | $5.1B | ||
| Q2 24 | $203.0M | $3.3B | ||
| Q1 24 | $294.9M | $3.8B |
自由现金流率LENORCL
| Q4 25 | 17.9% | -62.1% | ||
| Q3 25 | -2.2% | -2.4% | ||
| Q2 25 | -13.3% | -18.4% | ||
| Q1 25 | -4.5% | 0.5% | ||
| Q4 24 | 9.4% | -19.0% | ||
| Q3 24 | 8.5% | 38.5% | ||
| Q2 24 | 2.3% | 23.0% | ||
| Q1 24 | 4.0% | 28.6% |
资本支出强度LENORCL
| Q4 25 | 0.9% | 74.9% | ||
| Q3 25 | 0.4% | 57.0% | ||
| Q2 25 | 0.2% | 57.1% | ||
| Q1 25 | 0.7% | 41.5% | ||
| Q4 24 | 0.4% | 28.2% | ||
| Q3 24 | 0.2% | 17.3% | ||
| Q2 24 | 0.4% | 19.6% | ||
| Q1 24 | 1.0% | 12.6% |
现金转化率LENORCL
| Q4 25 | 3.59× | 0.34× | ||
| Q3 25 | -0.27× | 2.78× | ||
| Q2 25 | -2.29× | 1.80× | ||
| Q1 25 | -0.56× | 2.02× | ||
| Q4 24 | 0.89× | 0.41× | ||
| Q3 24 | 0.70× | 2.54× | ||
| Q2 24 | 0.25× | 1.93× | ||
| Q1 24 | 0.51× | 2.28× |
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
LEN
| Lennar Homebuilding East Central West Houstonand Other | $8.9B | 95% |
| Lennar Financial Services | $308.8M | 3% |
| Lennar Multifamily | $158.7M | 2% |
| Lennar Other | $14.8M | 0% |
| Homebuilding Other Regions | $3.9M | 0% |
ORCL
| Software Support | $4.9B | 31% |
| Cloud Infrastructure | $4.1B | 25% |
| Cloud Applications | $3.9B | 24% |
| Services Business | $1.4B | 9% |
| Software License | $939.0M | 6% |
| Hardware Business | $776.0M | 5% |
