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LGI Homes, Inc.（LGIH）与M/I HOMES, INC.（MHO）财务数据对比。点击上方公司名可切换其他公司
M/I HOMES, INC.的季度营收约是LGI Homes, Inc.的2.4倍（$1.1B vs $474.0M）。M/I HOMES, INC.净利率更高（5.6% vs 3.7%，领先1.9%）。M/I HOMES, INC.同比增速更快（-4.8% vs -15.0%）。过去两年LGI Homes, Inc.的营收复合增速更高（10.1% vs 4.7%）
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。
M/I Homes是美国领先的住宅建筑企业，主要设计、建造及销售独栋住宅、联排住宅与复式公寓，业务覆盖美国多州，面向首次置业、改善型及高端置业群体，提供节能住宅产品与个性化定制服务。
LGIH vs MHO — 直观对比
营收规模更大
MHO
是对方的2.4倍
$474.0M
营收增速更快
MHO
高出10.2%
-15.0%
净利率更高
MHO
高出1.9%
3.7%
两年增速更快
LGIH
近两年复合增速
4.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $474.0M | $1.1B |
| 净利润 | $17.3M | $64.0M |
| 毛利率 | 17.7% | 17.4% |
| 营业利润率 | 3.9% | 6.5% |
| 净利率 | 3.7% | 5.6% |
| 营收同比 | -15.0% | -4.8% |
| 净利润同比 | -66.0% | -52.1% |
| 每股收益（稀释后） | $0.74 | $2.42 |
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LGIHMHO
| Q4 25 | $474.0M | $1.1B | ||
| Q3 25 | $396.6M | $1.1B | ||
| Q2 25 | $483.5M | $1.2B | ||
| Q1 25 | $351.4M | $976.1M | ||
| Q4 24 | $557.4M | $1.2B | ||
| Q3 24 | $651.9M | $1.1B | ||
| Q2 24 | $602.5M | $1.1B | ||
| Q1 24 | $390.9M | $1.0B |
净利润LGIHMHO
| Q4 25 | $17.3M | $64.0M | ||
| Q3 25 | $19.7M | $106.5M | ||
| Q2 25 | $31.5M | $121.2M | ||
| Q1 25 | $4.0M | $111.2M | ||
| Q4 24 | $50.9M | $133.5M | ||
| Q3 24 | $69.6M | $145.4M | ||
| Q2 24 | $58.6M | $146.7M | ||
| Q1 24 | $17.1M | $138.1M |
毛利率LGIHMHO
| Q4 25 | 17.7% | 17.4% | ||
| Q3 25 | 21.5% | 24.5% | ||
| Q2 25 | 22.9% | 24.7% | ||
| Q1 25 | 21.0% | 25.9% | ||
| Q4 24 | 22.9% | 24.6% | ||
| Q3 24 | 25.1% | 27.1% | ||
| Q2 24 | 25.0% | 27.9% | ||
| Q1 24 | 23.4% | 27.1% |
营业利润率LGIHMHO
| Q4 25 | 3.9% | 6.5% | ||
| Q3 25 | 5.4% | 12.0% | ||
| Q2 25 | 8.2% | 13.4% | ||
| Q1 25 | 0.0% | 14.4% | ||
| Q4 24 | 8.2% | 13.6% | ||
| Q3 24 | 12.3% | 15.9% | ||
| Q2 24 | 11.2% | 16.8% | ||
| Q1 24 | 4.8% | 16.6% |
净利率LGIHMHO
| Q4 25 | 3.7% | 5.6% | ||
| Q3 25 | 5.0% | 9.4% | ||
| Q2 25 | 6.5% | 10.4% | ||
| Q1 25 | 1.1% | 11.4% | ||
| Q4 24 | 9.1% | 11.1% | ||
| Q3 24 | 10.7% | 12.7% | ||
| Q2 24 | 9.7% | 13.2% | ||
| Q1 24 | 4.4% | 13.2% |
每股收益（稀释后）LGIHMHO
| Q4 25 | $0.74 | $2.42 | ||
| Q3 25 | $0.85 | $3.92 | ||
| Q2 25 | $1.36 | $4.42 | ||
| Q1 25 | $0.17 | $3.98 | ||
| Q4 24 | $2.15 | $4.71 | ||
| Q3 24 | $2.95 | $5.10 | ||
| Q2 24 | $2.48 | $5.12 | ||
| Q1 24 | $0.72 | $4.78 |
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 | — | — |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $2.1B | $3.2B |
| 总资产 | $3.9B | $4.8B |
| 负债/权益比越低杠杆越低 | 0.79× | — |
8季度趋势，按日历期对齐
现金及短期投资LGIHMHO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $53.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
总债务LGIHMHO
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益LGIHMHO
| Q4 25 | $2.1B | $3.2B | ||
| Q3 25 | $2.1B | $3.1B | ||
| Q2 25 | $2.1B | $3.1B | ||
| Q1 25 | $2.0B | $3.0B | ||
| Q4 24 | $2.0B | $2.9B | ||
| Q3 24 | $2.0B | $2.8B | ||
| Q2 24 | $1.9B | $2.7B | ||
| Q1 24 | $1.9B | $2.6B |
总资产LGIHMHO
| Q4 25 | $3.9B | $4.8B | ||
| Q3 25 | $4.0B | $4.8B | ||
| Q2 25 | $4.0B | $4.7B | ||
| Q1 25 | $3.9B | $4.6B | ||
| Q4 24 | $3.8B | $4.5B | ||
| Q3 24 | $3.8B | $4.5B | ||
| Q2 24 | $3.7B | $4.3B | ||
| Q1 24 | $3.5B | $4.2B |
负债/权益比LGIHMHO
| Q4 25 | 0.79× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.73× | — | ||
| 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 | $86.8M | $-8.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-13.0M |
| 自由现金流率自由现金流/营收 | — | -1.1% |
| 资本支出强度资本支出/营收 | 0.0% | 0.4% |
| 现金转化率经营现金流/净利润 | 5.01× | -0.14× |
| 过去12个月自由现金流最近4个季度 | — | $127.7M |
8季度趋势，按日历期对齐
经营现金流LGIHMHO
| Q4 25 | $86.8M | $-8.7M | ||
| Q3 25 | $-13.2M | $43.4M | ||
| Q2 25 | $-86.4M | $37.8M | ||
| Q1 25 | $-127.1M | $64.9M | ||
| Q4 24 | $57.0M | $104.4M | ||
| Q3 24 | $-17.8M | $-67.9M | ||
| Q2 24 | $-83.5M | $27.5M | ||
| Q1 24 | $-99.5M | $115.8M |
自由现金流LGIHMHO
| Q4 25 | — | $-13.0M | ||
| Q3 25 | $-13.3M | $42.0M | ||
| Q2 25 | $-86.4M | $35.1M | ||
| Q1 25 | $-128.0M | $63.5M | ||
| Q4 24 | $56.4M | $102.3M | ||
| Q3 24 | $-17.8M | $-68.5M | ||
| Q2 24 | $-83.8M | $22.0M | ||
| Q1 24 | $-100.5M | $115.5M |
自由现金流率LGIHMHO
| Q4 25 | — | -1.1% | ||
| Q3 25 | -3.3% | 3.7% | ||
| Q2 25 | -17.9% | 3.0% | ||
| Q1 25 | -36.4% | 6.5% | ||
| Q4 24 | 10.1% | 8.5% | ||
| Q3 24 | -2.7% | -6.0% | ||
| Q2 24 | -13.9% | 2.0% | ||
| Q1 24 | -25.7% | 11.0% |
资本支出强度LGIHMHO
| Q4 25 | 0.0% | 0.4% | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | 0.0% | 0.2% | ||
| Q1 25 | 0.2% | 0.1% | ||
| Q4 24 | 0.1% | 0.2% | ||
| Q3 24 | 0.0% | 0.1% | ||
| Q2 24 | 0.0% | 0.5% | ||
| Q1 24 | 0.3% | 0.0% |
现金转化率LGIHMHO
| Q4 25 | 5.01× | -0.14× | ||
| Q3 25 | -0.67× | 0.41× | ||
| Q2 25 | -2.74× | 0.31× | ||
| Q1 25 | -31.83× | 0.58× | ||
| Q4 24 | 1.12× | 0.78× | ||
| Q3 24 | -0.26× | -0.47× | ||
| Q2 24 | -1.43× | 0.19× | ||
| Q1 24 | -5.83× | 0.84× |
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
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% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
