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LGI Homes, Inc.（LGIH）与SCANSOURCE, INC.（SCSC）财务数据对比。点击上方公司名可切换其他公司
SCANSOURCE, INC.的季度营收约是LGI Homes, Inc.的1.6倍（$766.5M vs $474.0M），LGI Homes, Inc.净利率更高（3.7% vs 2.2%，领先1.5%），SCANSOURCE, INC.同比增速更快（2.5% vs -15.0%），过去两年LGI Homes, Inc.的营收复合增速更高（10.1% vs 0.9%）
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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
LGIH vs SCSC — 直观对比
营收规模更大
SCSC
是对方的1.6倍
$474.0M
营收增速更快
SCSC
高出17.5%
-15.0%
净利率更高
LGIH
高出1.5%
2.2%
两年增速更快
LGIH
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $474.0M | $766.5M |
| 净利润 | $17.3M | $16.5M |
| 毛利率 | 17.7% | 13.4% |
| 营业利润率 | 3.9% | 2.3% |
| 净利率 | 3.7% | 2.2% |
| 营收同比 | -15.0% | 2.5% |
| 净利润同比 | -66.0% | -3.3% |
| 每股收益（稀释后） | $0.74 | $0.75 |
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LGIHSCSC
| Q4 25 | $474.0M | $766.5M | ||
| Q3 25 | $396.6M | $739.6M | ||
| Q2 25 | $483.5M | $812.9M | ||
| Q1 25 | $351.4M | $704.8M | ||
| Q4 24 | $557.4M | $747.5M | ||
| Q3 24 | $651.9M | $775.6M | ||
| Q2 24 | $602.5M | $746.1M | ||
| Q1 24 | $390.9M | $752.6M |
净利润LGIHSCSC
| Q4 25 | $17.3M | $16.5M | ||
| Q3 25 | $19.7M | $19.9M | ||
| Q2 25 | $31.5M | $20.1M | ||
| Q1 25 | $4.0M | $17.4M | ||
| Q4 24 | $50.9M | $17.1M | ||
| Q3 24 | $69.6M | $17.0M | ||
| Q2 24 | $58.6M | $16.1M | ||
| Q1 24 | $17.1M | $12.8M |
毛利率LGIHSCSC
| Q4 25 | 17.7% | 13.4% | ||
| Q3 25 | 21.5% | 14.5% | ||
| Q2 25 | 22.9% | 12.9% | ||
| Q1 25 | 21.0% | 14.2% | ||
| Q4 24 | 22.9% | 13.6% | ||
| Q3 24 | 25.1% | 13.1% | ||
| Q2 24 | 25.0% | 13.0% | ||
| Q1 24 | 23.4% | 12.6% |
营业利润率LGIHSCSC
| Q4 25 | 3.9% | 2.3% | ||
| Q3 25 | 5.4% | 3.5% | ||
| Q2 25 | 8.2% | 3.3% | ||
| Q1 25 | 0.0% | 3.2% | ||
| Q4 24 | 8.2% | 2.5% | ||
| Q3 24 | 12.3% | 2.3% | ||
| Q2 24 | 11.2% | 2.9% | ||
| Q1 24 | 4.8% | 2.3% |
净利率LGIHSCSC
| Q4 25 | 3.7% | 2.2% | ||
| Q3 25 | 5.0% | 2.7% | ||
| Q2 25 | 6.5% | 2.5% | ||
| Q1 25 | 1.1% | 2.5% | ||
| Q4 24 | 9.1% | 2.3% | ||
| Q3 24 | 10.7% | 2.2% | ||
| Q2 24 | 9.7% | 2.2% | ||
| Q1 24 | 4.4% | 1.7% |
每股收益（稀释后）LGIHSCSC
| Q4 25 | $0.74 | $0.75 | ||
| Q3 25 | $0.85 | $0.89 | ||
| Q2 25 | $1.36 | $0.87 | ||
| Q1 25 | $0.17 | $0.74 | ||
| Q4 24 | $2.15 | $0.70 | ||
| Q3 24 | $2.95 | $0.69 | ||
| Q2 24 | $2.48 | $0.66 | ||
| Q1 24 | $0.72 | $0.50 |
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 | — | $83.5M |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $2.1B | $910.9M |
| 总资产 | $3.9B | $1.7B |
| 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LGIHSCSC
| Q4 25 | — | $83.5M | ||
| Q3 25 | — | $124.9M | ||
| Q2 25 | — | $126.2M | ||
| Q1 25 | — | $146.3M | ||
| Q4 24 | $53.2M | $110.5M | ||
| Q3 24 | — | $145.0M | ||
| Q2 24 | — | $185.5M | ||
| Q1 24 | — | $159.1M |
总债务LGIHSCSC
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益LGIHSCSC
| Q4 25 | $2.1B | $910.9M | ||
| Q3 25 | $2.1B | $914.0M | ||
| Q2 25 | $2.1B | $906.4M | ||
| Q1 25 | $2.0B | $901.7M | ||
| Q4 24 | $2.0B | $900.7M | ||
| Q3 24 | $2.0B | $920.9M | ||
| Q2 24 | $1.9B | $924.3M | ||
| Q1 24 | $1.9B | $944.1M |
总资产LGIHSCSC
| Q4 25 | $3.9B | $1.7B | ||
| Q3 25 | $4.0B | $1.7B | ||
| Q2 25 | $4.0B | $1.8B | ||
| Q1 25 | $3.9B | $1.7B | ||
| Q4 24 | $3.8B | $1.7B | ||
| Q3 24 | $3.8B | $1.8B | ||
| Q2 24 | $3.7B | $1.8B | ||
| Q1 24 | $3.5B | $1.8B |
负债/权益比LGIHSCSC
| 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 | $30.8M |
| 自由现金流经营现金流 - 资本支出 | — | $28.9M |
| 自由现金流率自由现金流/营收 | — | 3.8% |
| 资本支出强度资本支出/营收 | 0.0% | 0.3% |
| 现金转化率经营现金流/净利润 | 5.01× | 1.87× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流LGIHSCSC
| Q4 25 | $86.8M | $30.8M | ||
| Q3 25 | $-13.2M | $23.2M | ||
| Q2 25 | $-86.4M | — | ||
| Q1 25 | $-127.1M | $66.1M | ||
| Q4 24 | $57.0M | $-6.2M | ||
| Q3 24 | $-17.8M | $44.8M | ||
| Q2 24 | $-83.5M | — | ||
| Q1 24 | $-99.5M | $160.2M |
自由现金流LGIHSCSC
| Q4 25 | — | $28.9M | ||
| Q3 25 | $-13.3M | $20.8M | ||
| Q2 25 | $-86.4M | — | ||
| Q1 25 | $-128.0M | $64.6M | ||
| Q4 24 | $56.4M | $-8.2M | ||
| Q3 24 | $-17.8M | $42.5M | ||
| Q2 24 | $-83.8M | — | ||
| Q1 24 | $-100.5M | $157.7M |
自由现金流率LGIHSCSC
| Q4 25 | — | 3.8% | ||
| Q3 25 | -3.3% | 2.8% | ||
| Q2 25 | -17.9% | — | ||
| Q1 25 | -36.4% | 9.2% | ||
| Q4 24 | 10.1% | -1.1% | ||
| Q3 24 | -2.7% | 5.5% | ||
| Q2 24 | -13.9% | — | ||
| Q1 24 | -25.7% | 21.0% |
资本支出强度LGIHSCSC
| Q4 25 | 0.0% | 0.3% | ||
| Q3 25 | 0.0% | 0.3% | ||
| Q2 25 | 0.0% | 0.3% | ||
| Q1 25 | 0.2% | 0.2% | ||
| Q4 24 | 0.1% | 0.3% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | 0.0% | 0.2% | ||
| Q1 24 | 0.3% | 0.3% |
现金转化率LGIHSCSC
| Q4 25 | 5.01× | 1.87× | ||
| Q3 25 | -0.67× | 1.17× | ||
| Q2 25 | -2.74× | — | ||
| Q1 25 | -31.83× | 3.79× | ||
| Q4 24 | 1.12× | -0.36× | ||
| Q3 24 | -0.26× | 2.64× | ||
| Q2 24 | -1.43× | — | ||
| Q1 24 | -5.83× | 12.51× |
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
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% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
