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Lennar（LEN）与优步（UBER）财务数据对比。点击上方公司名可切换其他公司
优步的季度营收约是Lennar的1.5倍（$14.4B vs $9.4B），Lennar净利率更高（5.2% vs 2.1%，领先3.2%），优步同比增速更快（20.1% vs -5.8%），优步自由现金流更多（$2.8B vs $1.7B），过去两年优步的营收复合增速更高（19.1% vs 13.2%）
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。
优步是总部位于美国加利福尼亚州旧金山的跨国出行科技企业，核心业务涵盖网约车、快递、食品配送及货运服务，业务覆盖全球约70个国家和15000座城市，是全球规模最大的共享出行平台，月活用户超1.8亿，活跃司机及配送员超600万。
LEN vs UBER — 直观对比
营收规模更大
UBER
是对方的1.5倍
$9.4B
营收增速更快
UBER
高出26.0%
-5.8%
净利率更高
LEN
高出3.2%
2.1%
自由现金流更多
UBER
多$1.1B
$1.7B
两年增速更快
UBER
近两年复合增速
13.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.4B | $14.4B |
| 净利润 | $490.2M | $296.0M |
| 毛利率 | — | — |
| 营业利润率 | 7.3% | 12.3% |
| 净利率 | 5.2% | 2.1% |
| 营收同比 | -5.8% | 20.1% |
| 净利润同比 | -55.3% | -95.7% |
| 每股收益（稀释后） | — | $0.16 |
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LENUBER
| Q4 25 | $9.4B | $14.4B | ||
| Q3 25 | $8.8B | $13.5B | ||
| Q2 25 | $8.4B | $12.7B | ||
| Q1 25 | $7.6B | $11.5B | ||
| Q4 24 | $9.9B | $12.0B | ||
| Q3 24 | $9.4B | $11.2B | ||
| Q2 24 | $8.8B | $10.7B | ||
| Q1 24 | $7.3B | $10.1B |
净利润LENUBER
| Q4 25 | $490.2M | $296.0M | ||
| Q3 25 | $591.0M | $6.6B | ||
| Q2 25 | $477.4M | $1.4B | ||
| Q1 25 | $519.5M | $1.8B | ||
| Q4 24 | $1.1B | $6.9B | ||
| Q3 24 | $1.2B | $2.6B | ||
| Q2 24 | $954.3M | $1.0B | ||
| Q1 24 | $719.3M | $-654.0M |
营业利润率LENUBER
| Q4 25 | 7.3% | 12.3% | ||
| Q3 25 | 9.0% | 8.3% | ||
| Q2 25 | 7.7% | 11.5% | ||
| Q1 25 | 9.1% | 10.6% | ||
| Q4 24 | 14.7% | 6.4% | ||
| Q3 24 | 16.3% | 9.5% | ||
| Q2 24 | 14.4% | 7.4% | ||
| Q1 24 | 12.7% | 1.7% |
净利率LENUBER
| Q4 25 | 5.2% | 2.1% | ||
| Q3 25 | 6.7% | 49.2% | ||
| Q2 25 | 5.7% | 10.7% | ||
| Q1 25 | 6.8% | 15.4% | ||
| Q4 24 | 11.0% | 57.6% | ||
| Q3 24 | 12.3% | 23.3% | ||
| Q2 24 | 10.9% | 9.5% | ||
| Q1 24 | 9.8% | -6.5% |
每股收益（稀释后）LENUBER
| Q4 25 | — | $0.16 | ||
| Q3 25 | $2.29 | $3.11 | ||
| Q2 25 | $1.81 | $0.63 | ||
| Q1 25 | $1.96 | $0.83 | ||
| Q4 24 | $4.03 | $3.21 | ||
| Q3 24 | $4.26 | $1.20 | ||
| Q2 24 | $3.45 | $0.47 | ||
| Q1 24 | $2.57 | $-0.32 |
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 | $7.6B |
| 总债务越低越好 | $5.9B | $10.6B |
| 股东权益账面价值 | $22.0B | $27.0B |
| 总资产 | $34.4B | $61.8B |
| 负债/权益比越低杠杆越低 | 0.27× | 0.39× |
8季度趋势，按日历期对齐
现金及短期投资LENUBER
| Q4 25 | $3.8B | $7.6B | ||
| Q3 25 | — | $9.1B | ||
| Q2 25 | — | $7.4B | ||
| Q1 25 | — | $6.0B | ||
| Q4 24 | $4.9B | $7.0B | ||
| Q3 24 | — | $9.1B | ||
| Q2 24 | — | $6.3B | ||
| Q1 24 | — | $5.8B |
总债务LENUBER
| Q4 25 | $5.9B | $10.6B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $4.2B | $9.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益LENUBER
| Q4 25 | $22.0B | $27.0B | ||
| Q3 25 | $22.6B | $28.1B | ||
| Q2 25 | $22.6B | $22.6B | ||
| Q1 25 | $22.7B | $22.0B | ||
| Q4 24 | $27.9B | $21.6B | ||
| Q3 24 | $27.4B | $14.8B | ||
| Q2 24 | $26.9B | $12.3B | ||
| Q1 24 | $26.6B | $11.1B |
总资产LENUBER
| Q4 25 | $34.4B | $61.8B | ||
| Q3 25 | $34.9B | $63.3B | ||
| Q2 25 | $34.4B | $56.0B | ||
| Q1 25 | $35.0B | $52.8B | ||
| Q4 24 | $41.3B | $51.2B | ||
| Q3 24 | $39.7B | $47.1B | ||
| Q2 24 | $38.7B | $41.5B | ||
| Q1 24 | $39.0B | $39.6B |
负债/权益比LENUBER
| Q4 25 | 0.27× | 0.39× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.15× | 0.44× | ||
| 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 | $2.9B |
| 自由现金流经营现金流 - 资本支出 | $1.7B | $2.8B |
| 自由现金流率自由现金流/营收 | 17.9% | 19.5% |
| 资本支出强度资本支出/营收 | 0.9% | 0.5% |
| 现金转化率经营现金流/净利润 | 3.59× | 9.74× |
| 过去12个月自由现金流最近4个季度 | $28.2M | $9.8B |
8季度趋势，按日历期对齐
经营现金流LENUBER
| Q4 25 | $1.8B | $2.9B | ||
| Q3 25 | $-158.6M | $2.3B | ||
| Q2 25 | $-1.1B | $2.6B | ||
| Q1 25 | $-289.0M | $2.3B | ||
| Q4 24 | $974.5M | $1.8B | ||
| Q3 24 | $819.2M | $2.2B | ||
| Q2 24 | $241.8M | $1.8B | ||
| Q1 24 | $367.9M | $1.4B |
自由现金流LENUBER
| Q4 25 | $1.7B | $2.8B | ||
| Q3 25 | $-190.8M | $2.2B | ||
| Q2 25 | $-1.1B | $2.5B | ||
| Q1 25 | $-345.1M | $2.3B | ||
| Q4 24 | $933.1M | $1.7B | ||
| Q3 24 | $800.8M | $2.1B | ||
| Q2 24 | $203.0M | $1.7B | ||
| Q1 24 | $294.9M | $1.4B |
自由现金流率LENUBER
| Q4 25 | 17.9% | 19.5% | ||
| Q3 25 | -2.2% | 16.6% | ||
| Q2 25 | -13.3% | 19.6% | ||
| Q1 25 | -4.5% | 19.5% | ||
| Q4 24 | 9.4% | 14.3% | ||
| Q3 24 | 8.5% | 18.9% | ||
| Q2 24 | 2.3% | 16.1% | ||
| Q1 24 | 4.0% | 13.4% |
资本支出强度LENUBER
| Q4 25 | 0.9% | 0.5% | ||
| Q3 25 | 0.4% | 0.7% | ||
| Q2 25 | 0.2% | 0.7% | ||
| Q1 25 | 0.7% | 0.6% | ||
| Q4 24 | 0.4% | 0.4% | ||
| Q3 24 | 0.2% | 0.4% | ||
| Q2 24 | 0.4% | 0.9% | ||
| Q1 24 | 1.0% | 0.6% |
现金转化率LENUBER
| Q4 25 | 3.59× | 9.74× | ||
| Q3 25 | -0.27× | 0.35× | ||
| Q2 25 | -2.29× | 1.89× | ||
| Q1 25 | -0.56× | 1.31× | ||
| Q4 24 | 0.89× | 0.25× | ||
| Q3 24 | 0.70× | 0.82× | ||
| Q2 24 | 0.25× | 1.79× | ||
| Q1 24 | 0.51× | — |
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% |
UBER
| Mobility | $8.2B | 57% |
| Delivery | $4.9B | 34% |
| Freight | $1.3B | 9% |
