vs
M/I HOMES, INC.（MHO）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
瑞思迈的季度营收约是M/I HOMES, INC.的1.2倍（$1.4B vs $1.1B），瑞思迈净利率更高（27.6% vs 5.6%，领先22.0%），瑞思迈同比增速更快（11.0% vs -4.8%），瑞思迈自由现金流更多（$311.2M vs $-13.0M），过去两年瑞思迈的营收复合增速更高（9.0% vs 4.7%）
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。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
MHO vs RMD — 直观对比
营收规模更大
RMD
是对方的1.2倍
$1.1B
营收增速更快
RMD
高出15.8%
-4.8%
净利率更高
RMD
高出22.0%
5.6%
自由现金流更多
RMD
多$324.2M
$-13.0M
两年增速更快
RMD
近两年复合增速
4.7%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.4B |
| 净利润 | $64.0M | $392.6M |
| 毛利率 | 17.4% | 61.8% |
| 营业利润率 | 6.5% | 34.6% |
| 净利率 | 5.6% | 27.6% |
| 营收同比 | -4.8% | 11.0% |
| 净利润同比 | -52.1% | 13.9% |
| 每股收益（稀释后） | $2.42 | $2.68 |
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MHORMD
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $976.1M | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.0B | $1.2B |
净利润MHORMD
| Q4 25 | $64.0M | $392.6M | ||
| Q3 25 | $106.5M | $348.5M | ||
| Q2 25 | $121.2M | $379.7M | ||
| Q1 25 | $111.2M | $365.0M | ||
| Q4 24 | $133.5M | $344.6M | ||
| Q3 24 | $145.4M | $311.4M | ||
| Q2 24 | $146.7M | $292.2M | ||
| Q1 24 | $138.1M | $300.5M |
毛利率MHORMD
| Q4 25 | 17.4% | 61.8% | ||
| Q3 25 | 24.5% | 61.5% | ||
| Q2 25 | 24.7% | 60.8% | ||
| Q1 25 | 25.9% | 59.3% | ||
| Q4 24 | 24.6% | 58.6% | ||
| Q3 24 | 27.1% | 58.6% | ||
| Q2 24 | 27.9% | 58.5% | ||
| Q1 24 | 27.1% | 57.9% |
营业利润率MHORMD
| Q4 25 | 6.5% | 34.6% | ||
| Q3 25 | 12.0% | 33.4% | ||
| Q2 25 | 13.4% | 33.7% | ||
| Q1 25 | 14.4% | 33.0% | ||
| Q4 24 | 13.6% | 32.5% | ||
| Q3 24 | 15.9% | 31.6% | ||
| Q2 24 | 16.8% | 31.2% | ||
| Q1 24 | 16.6% | 31.3% |
净利率MHORMD
| Q4 25 | 5.6% | 27.6% | ||
| Q3 25 | 9.4% | 26.1% | ||
| Q2 25 | 10.4% | 28.2% | ||
| Q1 25 | 11.4% | 28.3% | ||
| Q4 24 | 11.1% | 26.9% | ||
| Q3 24 | 12.7% | 25.4% | ||
| Q2 24 | 13.2% | 23.9% | ||
| Q1 24 | 13.2% | 25.1% |
每股收益（稀释后）MHORMD
| Q4 25 | $2.42 | $2.68 | ||
| Q3 25 | $3.92 | $2.37 | ||
| Q2 25 | $4.42 | $2.58 | ||
| Q1 25 | $3.98 | $2.48 | ||
| Q4 24 | $4.71 | $2.34 | ||
| Q3 24 | $5.10 | $2.11 | ||
| Q2 24 | $5.12 | $1.97 | ||
| Q1 24 | $4.78 | $2.04 |
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 | — | $1.4B |
| 总债务越低越好 | — | $403.9M |
| 股东权益账面价值 | $3.2B | $6.3B |
| 总资产 | $4.8B | $8.5B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资MHORMD
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $932.7M | ||
| Q4 24 | — | $521.9M | ||
| Q3 24 | — | $426.4M | ||
| Q2 24 | — | $238.4M | ||
| Q1 24 | — | $237.9M |
总债务MHORMD
| Q4 25 | — | $403.9M | ||
| Q3 25 | — | $408.7M | ||
| Q2 25 | — | $658.4M | ||
| Q1 25 | — | $663.1M | ||
| Q4 24 | — | $662.9M | ||
| Q3 24 | — | $667.6M | ||
| Q2 24 | — | $697.3M | ||
| Q1 24 | — | $997.0M |
股东权益MHORMD
| Q4 25 | $3.2B | $6.3B | ||
| Q3 25 | $3.1B | $6.1B | ||
| Q2 25 | $3.1B | $6.0B | ||
| Q1 25 | $3.0B | $5.5B | ||
| Q4 24 | $2.9B | $5.3B | ||
| Q3 24 | $2.8B | $5.2B | ||
| Q2 24 | $2.7B | $4.9B | ||
| Q1 24 | $2.6B | $4.6B |
总资产MHORMD
| Q4 25 | $4.8B | $8.5B | ||
| Q3 25 | $4.8B | $8.3B | ||
| Q2 25 | $4.7B | $8.2B | ||
| Q1 25 | $4.6B | $7.6B | ||
| Q4 24 | $4.5B | $7.1B | ||
| Q3 24 | $4.5B | $7.2B | ||
| Q2 24 | $4.3B | $6.9B | ||
| Q1 24 | $4.2B | $6.8B |
负债/权益比MHORMD
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.22× |
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 | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $-13.0M | $311.2M |
| 自由现金流率自由现金流/营收 | -1.1% | 21.9% |
| 资本支出强度资本支出/营收 | 0.4% | 2.0% |
| 现金转化率经营现金流/净利润 | -0.14× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $127.7M | $1.8B |
8季度趋势，按日历期对齐
经营现金流MHORMD
| Q4 25 | $-8.7M | $339.7M | ||
| Q3 25 | $43.4M | $457.3M | ||
| Q2 25 | $37.8M | $538.8M | ||
| Q1 25 | $64.9M | $578.7M | ||
| Q4 24 | $104.4M | $308.6M | ||
| Q3 24 | $-67.9M | $325.5M | ||
| Q2 24 | $27.5M | $440.1M | ||
| Q1 24 | $115.8M | $402.0M |
自由现金流MHORMD
| Q4 25 | $-13.0M | $311.2M | ||
| Q3 25 | $42.0M | $414.4M | ||
| Q2 25 | $35.1M | $508.2M | ||
| Q1 25 | $63.5M | $557.9M | ||
| Q4 24 | $102.3M | $288.0M | ||
| Q3 24 | $-68.5M | $307.7M | ||
| Q2 24 | $22.0M | $415.2M | ||
| Q1 24 | $115.5M | $380.8M |
自由现金流率MHORMD
| Q4 25 | -1.1% | 21.9% | ||
| Q3 25 | 3.7% | 31.0% | ||
| Q2 25 | 3.0% | 37.7% | ||
| Q1 25 | 6.5% | 43.2% | ||
| Q4 24 | 8.5% | 22.5% | ||
| Q3 24 | -6.0% | 25.1% | ||
| Q2 24 | 2.0% | 33.9% | ||
| Q1 24 | 11.0% | 31.8% |
资本支出强度MHORMD
| Q4 25 | 0.4% | 2.0% | ||
| Q3 25 | 0.1% | 3.2% | ||
| Q2 25 | 0.2% | 2.3% | ||
| Q1 25 | 0.1% | 1.6% | ||
| Q4 24 | 0.2% | 1.6% | ||
| Q3 24 | 0.1% | 1.5% | ||
| Q2 24 | 0.5% | 2.0% | ||
| Q1 24 | 0.0% | 1.8% |
现金转化率MHORMD
| Q4 25 | -0.14× | 0.87× | ||
| Q3 25 | 0.41× | 1.31× | ||
| Q2 25 | 0.31× | 1.42× | ||
| Q1 25 | 0.58× | 1.59× | ||
| Q4 24 | 0.78× | 0.90× | ||
| Q3 24 | -0.47× | 1.05× | ||
| Q2 24 | 0.19× | 1.51× | ||
| Q1 24 | 0.84× | 1.34× |
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% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
