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Lowe's（LOW）与NVR, Inc.（NVR）财务数据对比。点击上方公司名可切换其他公司
Lowe's的季度营收约是NVR, Inc.的7.7倍（$20.8B vs $2.7B），NVR, Inc.净利率更高（13.4% vs 7.8%，领先5.6%），Lowe's同比增速更快（3.2% vs -4.7%），NVR, Inc.自由现金流更多（$436.0M vs $90.0M），过去两年NVR, Inc.的营收复合增速更高（7.8% vs -8.7%）
Lowe's是美国知名家居建材零售企业，总部位于北卡罗来纳州穆尔斯维尔，主营家居改善类相关产品的线下零售业务。截至2022年10月，该公司及旗下关联业务在北美地区共运营2181家家居建材及五金门店，服务普通消费者及专业装修从业人员。
NVR, Inc.是总部位于美国弗吉尼亚州雷斯顿的知名住宅建造企业，同时运营抵押贷款银行及产权服务相关业务。公司业务主要布局美国东海岸，覆盖14个州及华盛顿特区，2021年有22%的营收来自华盛顿大都会区。
LOW vs NVR — 直观对比
营收规模更大
LOW
是对方的7.7倍
$2.7B
营收增速更快
LOW
高出7.9%
-4.7%
净利率更高
NVR
高出5.6%
7.8%
自由现金流更多
NVR
多$346.0M
$90.0M
两年增速更快
NVR
近两年复合增速
-8.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $20.8B | $2.7B |
| 净利润 | $1.6B | $363.8M |
| 毛利率 | 34.2% | — |
| 营业利润率 | 11.9% | — |
| 净利率 | 7.8% | 13.4% |
| 营收同比 | 3.2% | -4.7% |
| 净利润同比 | -4.7% | -20.5% |
| 每股收益（稀释后） | $2.88 | $120.85 |
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LOWNVR
| Q4 25 | $20.8B | $2.7B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | $20.9B | $2.6B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | $20.2B | $2.8B | ||
| Q3 24 | $23.6B | $2.7B | ||
| Q2 24 | $21.4B | $2.6B | ||
| Q1 24 | $18.6B | $2.3B |
净利润LOWNVR
| Q4 25 | $1.6B | $363.8M | ||
| Q3 25 | — | $342.7M | ||
| Q2 25 | $1.6B | $333.7M | ||
| Q1 25 | — | $299.6M | ||
| Q4 24 | $1.7B | $457.4M | ||
| Q3 24 | $2.4B | $429.3M | ||
| Q2 24 | $1.8B | $400.9M | ||
| Q1 24 | $1.0B | $394.3M |
毛利率LOWNVR
| Q4 25 | 34.2% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 33.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 33.7% | — | ||
| Q3 24 | 33.5% | — | ||
| Q2 24 | 33.2% | — | ||
| Q1 24 | 32.4% | — |
营业利润率LOWNVR
| Q4 25 | 11.9% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 11.9% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 12.6% | — | ||
| Q3 24 | 14.6% | — | ||
| Q2 24 | 12.4% | — | ||
| Q1 24 | 9.1% | — |
净利率LOWNVR
| Q4 25 | 7.8% | 13.4% | ||
| Q3 25 | — | 13.1% | ||
| Q2 25 | 7.8% | 12.8% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | 8.4% | 16.1% | ||
| Q3 24 | 10.1% | 15.7% | ||
| Q2 24 | 8.2% | 15.3% | ||
| Q1 24 | 5.5% | 16.9% |
每股收益（稀释后）LOWNVR
| Q4 25 | $2.88 | $120.85 | ||
| Q3 25 | — | $112.33 | ||
| Q2 25 | $2.92 | $108.54 | ||
| Q1 25 | — | $94.83 | ||
| Q4 24 | $2.99 | $139.09 | ||
| Q3 24 | $4.17 | $130.50 | ||
| Q2 24 | $3.06 | $120.69 | ||
| Q1 24 | $1.81 | $116.41 |
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 | $1.0B | — |
| 总债务越低越好 | $37.5B | — |
| 股东权益账面价值 | $-10.4B | $3.9B |
| 总资产 | $53.5B | $5.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资LOWNVR
| Q4 25 | $1.0B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $3.4B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.6B | — | ||
| Q3 24 | $4.7B | — | ||
| Q2 24 | $3.5B | — | ||
| Q1 24 | $1.2B | — |
总债务LOWNVR
| Q4 25 | $37.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $30.5B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $32.9B | — | ||
| Q3 24 | $34.7B | — | ||
| Q2 24 | $34.6B | — | ||
| Q1 24 | $35.4B | — |
股东权益LOWNVR
| Q4 25 | $-10.4B | $3.9B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | $-13.3B | $3.8B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | $-13.4B | $4.2B | ||
| Q3 24 | $-13.8B | $4.3B | ||
| Q2 24 | $-14.6B | $4.1B | ||
| Q1 24 | $-15.1B | $4.3B |
总资产LOWNVR
| Q4 25 | $53.5B | $5.9B | ||
| Q3 25 | — | $6.0B | ||
| Q2 25 | $45.4B | $5.9B | ||
| Q1 25 | — | $6.2B | ||
| Q4 24 | $44.7B | $6.4B | ||
| Q3 24 | $44.9B | $6.5B | ||
| Q2 24 | $45.4B | $6.4B | ||
| Q1 24 | $41.8B | $6.5B |
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 | $687.0M | $439.7M |
| 自由现金流经营现金流 - 资本支出 | $90.0M | $436.0M |
| 自由现金流率自由现金流/营收 | 0.4% | 16.1% |
| 资本支出强度资本支出/营收 | 2.9% | 0.1% |
| 现金转化率经营现金流/净利润 | 0.43× | 1.21× |
| 过去12个月自由现金流最近4个季度 | $6.4B | $1.1B |
8季度趋势，按日历期对齐
经营现金流LOWNVR
| Q4 25 | $687.0M | $439.7M | ||
| Q3 25 | — | $438.7M | ||
| Q2 25 | $3.4B | $35.1M | ||
| Q1 25 | — | $207.8M | ||
| Q4 24 | $1.3B | $637.0M | ||
| Q3 24 | $3.2B | $358.3M | ||
| Q2 24 | $4.3B | $232.7M | ||
| Q1 24 | $1.1B | $146.5M |
自由现金流LOWNVR
| Q4 25 | $90.0M | $436.0M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | $2.9B | $26.8M | ||
| Q1 25 | — | $200.7M | ||
| Q4 24 | $728.0M | $631.5M | ||
| Q3 24 | $2.7B | $350.1M | ||
| Q2 24 | $3.9B | $226.3M | ||
| Q1 24 | $488.0M | $137.5M |
自由现金流率LOWNVR
| Q4 25 | 0.4% | 16.1% | ||
| Q3 25 | — | 16.6% | ||
| Q2 25 | 13.7% | 1.0% | ||
| Q1 25 | — | 8.4% | ||
| Q4 24 | 3.6% | 22.2% | ||
| Q3 24 | 11.6% | 12.8% | ||
| Q2 24 | 18.2% | 8.7% | ||
| Q1 24 | 2.6% | 5.9% |
资本支出强度LOWNVR
| Q4 25 | 2.9% | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | 2.5% | 0.3% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | 2.8% | 0.2% | ||
| Q3 24 | 1.8% | 0.3% | ||
| Q2 24 | 1.8% | 0.2% | ||
| Q1 24 | 3.3% | 0.4% |
现金转化率LOWNVR
| Q4 25 | 0.43× | 1.21× | ||
| Q3 25 | — | 1.28× | ||
| Q2 25 | 2.06× | 0.11× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | 0.77× | 1.39× | ||
| Q3 24 | 1.32× | 0.83× | ||
| Q2 24 | 2.43× | 0.58× | ||
| Q1 24 | 1.09× | 0.37× |
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
LOW
| Home Decor | $7.8B | 37% |
| Building Products | $6.9B | 33% |
| Hardlines | $5.1B | 25% |
| Services | $753.0M | 4% |
| Other | $384.0M | 2% |
NVR
| Home Building Segment | $2.6B | 97% |
| Mortgage Banking Segment | $77.4M | 3% |
