vs
Lowe's（LOW）与PulteGroup（PHM）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PulteGroup的6.1倍（$20.8B vs $3.4B），PulteGroup净利率更高（10.2% vs 7.8%，领先2.4%），Lowe's同比增速更快（3.2% vs -12.4%），过去两年Lowe's的营收复合增速更高（-8.7% vs -13.9%）
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。
PulteGroup Inc.是总部位于美国佐治亚州亚特兰大的住宅建造企业，2023年按房屋交付量统计为美国第三大住宅建造商，自成立以来累计已建成超过77.5万套住宅，是美国住宅开发领域的领先企业之一。
LOW vs PHM — 直观对比
营收规模更大
LOW
是对方的6.1倍
$3.4B
营收增速更快
LOW
高出15.6%
-12.4%
净利率更高
PHM
高出2.4%
7.8%
两年增速更快
LOW
近两年复合增速
-13.9%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $20.8B | $3.4B |
| 净利润 | $1.6B | $347.0M |
| 毛利率 | 34.2% | — |
| 营业利润率 | 11.9% | — |
| 净利率 | 7.8% | 10.2% |
| 营收同比 | 3.2% | -12.4% |
| 净利润同比 | -4.7% | -33.6% |
| 每股收益（稀释后） | $2.88 | — |
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LOWPHM
| Q1 26 | — | $3.4B | ||
| Q4 25 | $20.8B | $4.6B | ||
| Q3 25 | — | $4.4B | ||
| Q2 25 | $20.9B | $4.4B | ||
| Q1 25 | — | $3.9B | ||
| Q4 24 | $20.2B | $4.9B | ||
| Q3 24 | $23.6B | $4.5B | ||
| Q2 24 | $21.4B | $4.6B |
净利润LOWPHM
| Q1 26 | — | $347.0M | ||
| Q4 25 | $1.6B | $501.6M | ||
| Q3 25 | — | $585.8M | ||
| Q2 25 | $1.6B | $608.5M | ||
| Q1 25 | — | $522.8M | ||
| Q4 24 | $1.7B | $913.2M | ||
| Q3 24 | $2.4B | $697.9M | ||
| Q2 24 | $1.8B | $809.1M |
毛利率LOWPHM
| Q1 26 | — | — | ||
| Q4 25 | 34.2% | — | ||
| Q3 25 | — | 27.8% | ||
| Q2 25 | 33.4% | 28.6% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | 33.7% | — | ||
| Q3 24 | 33.5% | 30.4% | ||
| Q2 24 | 33.2% | 31.4% |
营业利润率LOWPHM
| Q1 26 | — | — | ||
| Q4 25 | 11.9% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 11.9% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 12.6% | — | ||
| Q3 24 | 14.6% | — | ||
| Q2 24 | 12.4% | — |
净利率LOWPHM
| Q1 26 | — | 10.2% | ||
| Q4 25 | 7.8% | 10.9% | ||
| Q3 25 | — | 13.3% | ||
| Q2 25 | 7.8% | 13.8% | ||
| Q1 25 | — | 13.4% | ||
| Q4 24 | 8.4% | 18.6% | ||
| Q3 24 | 10.1% | 15.6% | ||
| Q2 24 | 8.2% | 17.6% |
每股收益（稀释后）LOWPHM
| Q1 26 | — | — | ||
| Q4 25 | $2.88 | $2.56 | ||
| Q3 25 | — | $2.96 | ||
| Q2 25 | $2.92 | $3.03 | ||
| Q1 25 | — | $2.57 | ||
| Q4 24 | $2.99 | $4.41 | ||
| Q3 24 | $4.17 | $3.35 | ||
| Q2 24 | $3.06 | $3.83 |
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 | $1.8B |
| 总债务越低越好 | $37.5B | — |
| 股东权益账面价值 | $-10.4B | $13.0B |
| 总资产 | $53.5B | $5.2B |
| 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LOWPHM
| Q1 26 | — | $1.8B | ||
| Q4 25 | $1.0B | $2.0B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $3.4B | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $3.6B | $1.6B | ||
| Q3 24 | $4.7B | $1.4B | ||
| Q2 24 | $3.5B | $1.4B |
总债务LOWPHM
| Q1 26 | — | — | ||
| Q4 25 | $37.5B | $43.9M | ||
| Q3 25 | — | — | ||
| Q2 25 | $30.5B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $32.9B | $31.1M | ||
| Q3 24 | $34.7B | — | ||
| Q2 24 | $34.6B | — |
股东权益LOWPHM
| Q1 26 | — | $13.0B | ||
| Q4 25 | $-10.4B | $13.0B | ||
| Q3 25 | — | $12.8B | ||
| Q2 25 | $-13.3B | $12.6B | ||
| Q1 25 | — | $12.3B | ||
| Q4 24 | $-13.4B | $12.1B | ||
| Q3 24 | $-13.8B | $11.6B | ||
| Q2 24 | $-14.6B | $11.2B |
总资产LOWPHM
| Q1 26 | — | $5.2B | ||
| Q4 25 | $53.5B | $18.0B | ||
| Q3 25 | — | $17.9B | ||
| Q2 25 | $45.4B | $17.6B | ||
| Q1 25 | — | $17.3B | ||
| Q4 24 | $44.7B | $17.4B | ||
| Q3 24 | $44.9B | $17.0B | ||
| Q2 24 | $45.4B | $16.5B |
负债/权益比LOWPHM
| Q1 26 | — | — | ||
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 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 | $687.0M | $159.8M |
| 自由现金流经营现金流 - 资本支出 | $90.0M | — |
| 自由现金流率自由现金流/营收 | 0.4% | — |
| 资本支出强度资本支出/营收 | 2.9% | 0.7% |
| 现金转化率经营现金流/净利润 | 0.43× | 0.46× |
| 过去12个月自由现金流最近4个季度 | $6.4B | — |
8季度趋势，按日历期对齐
经营现金流LOWPHM
| Q1 26 | — | $159.8M | ||
| Q4 25 | $687.0M | $771.1M | ||
| Q3 25 | — | $678.4M | ||
| Q2 25 | $3.4B | $287.5M | ||
| Q1 25 | — | $134.2M | ||
| Q4 24 | $1.3B | $567.6M | ||
| Q3 24 | $3.2B | $455.9M | ||
| Q2 24 | $4.3B | $417.5M |
自由现金流LOWPHM
| Q1 26 | — | — | ||
| Q4 25 | $90.0M | $739.8M | ||
| Q3 25 | — | $651.1M | ||
| Q2 25 | $2.9B | $253.0M | ||
| Q1 25 | — | $104.6M | ||
| Q4 24 | $728.0M | $543.1M | ||
| Q3 24 | $2.7B | $417.2M | ||
| Q2 24 | $3.9B | $386.2M |
自由现金流率LOWPHM
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | 16.0% | ||
| Q3 25 | — | 14.8% | ||
| Q2 25 | 13.7% | 5.7% | ||
| Q1 25 | — | 2.7% | ||
| Q4 24 | 3.6% | 11.0% | ||
| Q3 24 | 11.6% | 9.3% | ||
| Q2 24 | 18.2% | 8.4% |
资本支出强度LOWPHM
| Q1 26 | — | 0.7% | ||
| Q4 25 | 2.9% | 0.7% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | 2.5% | 0.8% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | 2.8% | 0.5% | ||
| Q3 24 | 1.8% | 0.9% | ||
| Q2 24 | 1.8% | 0.7% |
现金转化率LOWPHM
| Q1 26 | — | 0.46× | ||
| Q4 25 | 0.43× | 1.54× | ||
| Q3 25 | — | 1.16× | ||
| Q2 25 | 2.06× | 0.47× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | 0.77× | 0.62× | ||
| Q3 24 | 1.32× | 0.65× | ||
| Q2 24 | 2.43× | 0.52× |
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% |
PHM
| Home sale revenues | $3.3B | 97% |
| Financial Services | $71.7M | 2% |
| Land sale and other revenues | $29.3M | 1% |
