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M/I HOMES, INC.（MHO）与EPLUS INC（PLUS）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EPLUS INC的1.9倍（$1.1B vs $614.8M），EPLUS INC净利率更高（5.7% vs 5.6%，领先0.1%），EPLUS INC同比增速更快（20.3% vs -4.8%），过去两年M/I HOMES, INC.的营收复合增速更高（4.7% vs 2.3%）
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。
ePlus Inc.是美国的科技咨询解决方案提供商，业务覆盖网络安全、云计算、网络架构、协作办公、人工智能及前沿技术领域，为超5000家客户提供定制化解决方案、专业咨询与托管服务，助力企业实现数字化转型与技术升级。
MHO vs PLUS — 直观对比
营收规模更大
MHO
是对方的1.9倍
$614.8M
营收增速更快
PLUS
高出25.1%
-4.8%
净利率更高
PLUS
高出0.1%
5.6%
两年增速更快
MHO
近两年复合增速
2.3%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $614.8M |
| 净利润 | $64.0M | $35.1M |
| 毛利率 | 17.4% | 25.8% |
| 营业利润率 | 6.5% | 7.1% |
| 净利率 | 5.6% | 5.7% |
| 营收同比 | -4.8% | 20.3% |
| 净利润同比 | -52.1% | 45.2% |
| 每股收益（稀释后） | $2.42 | $1.33 |
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MHOPLUS
| Q4 25 | $1.1B | $614.8M | ||
| Q3 25 | $1.1B | $608.8M | ||
| Q2 25 | $1.2B | $637.3M | ||
| Q1 25 | $976.1M | — | ||
| Q4 24 | $1.2B | $493.2M | ||
| Q3 24 | $1.1B | $493.4M | ||
| Q2 24 | $1.1B | $535.7M | ||
| Q1 24 | $1.0B | — |
净利润MHOPLUS
| Q4 25 | $64.0M | $35.1M | ||
| Q3 25 | $106.5M | $34.9M | ||
| Q2 25 | $121.2M | $37.7M | ||
| Q1 25 | $111.2M | — | ||
| Q4 24 | $133.5M | $24.1M | ||
| Q3 24 | $145.4M | $31.3M | ||
| Q2 24 | $146.7M | $27.3M | ||
| Q1 24 | $138.1M | — |
毛利率MHOPLUS
| Q4 25 | 17.4% | 25.8% | ||
| Q3 25 | 24.5% | 26.6% | ||
| Q2 25 | 24.7% | 23.3% | ||
| Q1 25 | 25.9% | — | ||
| Q4 24 | 24.6% | 25.4% | ||
| Q3 24 | 27.1% | 25.8% | ||
| Q2 24 | 27.9% | 23.7% | ||
| Q1 24 | 27.1% | — |
营业利润率MHOPLUS
| Q4 25 | 6.5% | 7.1% | ||
| Q3 25 | 12.0% | 8.0% | ||
| Q2 25 | 13.4% | 5.7% | ||
| Q1 25 | 14.4% | — | ||
| Q4 24 | 13.6% | 3.3% | ||
| Q3 24 | 15.9% | 5.5% | ||
| Q2 24 | 16.8% | 5.9% | ||
| Q1 24 | 16.6% | — |
净利率MHOPLUS
| Q4 25 | 5.6% | 5.7% | ||
| Q3 25 | 9.4% | 5.7% | ||
| Q2 25 | 10.4% | 5.9% | ||
| Q1 25 | 11.4% | — | ||
| Q4 24 | 11.1% | 4.9% | ||
| Q3 24 | 12.7% | 6.3% | ||
| Q2 24 | 13.2% | 5.1% | ||
| Q1 24 | 13.2% | — |
每股收益（稀释后）MHOPLUS
| Q4 25 | $2.42 | $1.33 | ||
| Q3 25 | $3.92 | $1.32 | ||
| Q2 25 | $4.42 | $1.43 | ||
| Q1 25 | $3.98 | — | ||
| Q4 24 | $4.71 | $0.91 | ||
| Q3 24 | $5.10 | $1.17 | ||
| Q2 24 | $5.12 | $1.02 | ||
| Q1 24 | $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 | — | $326.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.2B | $1.1B |
| 总资产 | $4.8B | $1.8B |
| 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MHOPLUS
| Q4 25 | — | $326.3M | ||
| Q3 25 | — | $402.2M | ||
| Q2 25 | — | $480.2M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $253.1M | ||
| Q3 24 | — | $187.5M | ||
| Q2 24 | — | $349.9M | ||
| Q1 24 | — | — |
股东权益MHOPLUS
| Q4 25 | $3.2B | $1.1B | ||
| Q3 25 | $3.1B | $1.0B | ||
| Q2 25 | $3.1B | $1.0B | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $2.9B | $962.3M | ||
| Q3 24 | $2.8B | $947.0M | ||
| Q2 24 | $2.7B | $921.9M | ||
| Q1 24 | $2.6B | — |
总资产MHOPLUS
| Q4 25 | $4.8B | $1.8B | ||
| Q3 25 | $4.8B | $1.8B | ||
| Q2 25 | $4.7B | $1.8B | ||
| Q1 25 | $4.6B | — | ||
| Q4 24 | $4.5B | $1.8B | ||
| Q3 24 | $4.5B | $1.7B | ||
| Q2 24 | $4.3B | $1.7B | ||
| Q1 24 | $4.2B | — |
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 | $-8.7M | $-87.4M |
| 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 | 0.4% | — |
| 现金转化率经营现金流/净利润 | -0.14× | -2.49× |
| 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MHOPLUS
| Q4 25 | $-8.7M | $-87.4M | ||
| Q3 25 | $43.4M | $-34.8M | ||
| Q2 25 | $37.8M | $-99.0M | ||
| Q1 25 | $64.9M | — | ||
| Q4 24 | $104.4M | $65.7M | ||
| Q3 24 | $-67.9M | $-21.6M | ||
| Q2 24 | $27.5M | $97.1M | ||
| Q1 24 | $115.8M | — |
自由现金流MHOPLUS
| Q4 25 | $-13.0M | — | ||
| Q3 25 | $42.0M | — | ||
| Q2 25 | $35.1M | — | ||
| Q1 25 | $63.5M | — | ||
| Q4 24 | $102.3M | — | ||
| Q3 24 | $-68.5M | — | ||
| Q2 24 | $22.0M | — | ||
| Q1 24 | $115.5M | — |
自由现金流率MHOPLUS
| Q4 25 | -1.1% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | 6.5% | — | ||
| Q4 24 | 8.5% | — | ||
| Q3 24 | -6.0% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 11.0% | — |
资本支出强度MHOPLUS
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 0.0% | — |
现金转化率MHOPLUS
| Q4 25 | -0.14× | -2.49× | ||
| Q3 25 | 0.41× | -1.00× | ||
| Q2 25 | 0.31× | -2.63× | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | 0.78× | 2.72× | ||
| Q3 24 | -0.47× | -0.69× | ||
| Q2 24 | 0.19× | 3.55× | ||
| Q1 24 | 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
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
PLUS
| All Others Customer End Market | $107.0M | 17% |
| Technology Customer End Market | $89.4M | 15% |
| Health Care Customer End Market | $81.5M | 13% |
| Financial Services Customer End Market | $66.1M | 11% |
| Professional Services Reporting Unit | $64.1M | 10% |
| Security | $61.1M | 10% |
| State And Local Government And Educational Institutions | $59.9M | 10% |
| Managed Services Reporting Unit | $48.8M | 8% |
| Other Product | $21.1M | 3% |
| Collaboration | $13.4M | 2% |
