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M/I HOMES, INC.（MHO）与STIFEL FINANCIAL CORP（SF）财务数据对比。点击上方公司名可切换其他公司
STIFEL FINANCIAL CORP的季度营收约是M/I HOMES, INC.的1.5倍（$1.7B vs $1.1B），STIFEL FINANCIAL CORP净利率更高（15.1% vs 5.6%，领先9.5%），STIFEL FINANCIAL CORP同比增速更快（17.7% vs -4.8%），过去两年STIFEL FINANCIAL CORP的营收复合增速更高（44.4% 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。
司迪富金融是美国跨国独立投资银行及金融服务提供商，总部位于密苏里州圣路易斯市中心。其历史可追溯至1890年成立的Altheimer & Rawlings投资公司，1983年正式以Stifel为名成立，1986年11月24日在纽约证券交易所挂牌上市，为全球客户提供多元化金融服务。
MHO vs SF — 直观对比
营收规模更大
SF
是对方的1.5倍
$1.1B
营收增速更快
SF
高出22.5%
-4.8%
净利率更高
SF
高出9.5%
5.6%
两年增速更快
SF
近两年复合增速
4.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.7B |
| 净利润 | $64.0M | $251.4M |
| 毛利率 | 17.4% | — |
| 营业利润率 | 6.5% | 30.8% |
| 净利率 | 5.6% | 15.1% |
| 营收同比 | -4.8% | 17.7% |
| 净利润同比 | -52.1% | 374.4% |
| 每股收益（稀释后） | $2.42 | $1.48 |
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MHOSF
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.1B | $962.6M | ||
| Q2 25 | $1.2B | $838.9M | ||
| Q1 25 | $976.1M | $842.5M | ||
| Q4 24 | $1.2B | $916.0M | ||
| Q3 24 | $1.1B | $810.9M | ||
| Q2 24 | $1.1B | $798.9M |
净利润MHOSF
| Q1 26 | — | $251.4M | ||
| Q4 25 | $64.0M | $264.4M | ||
| Q3 25 | $106.5M | $211.4M | ||
| Q2 25 | $121.2M | $155.1M | ||
| Q1 25 | $111.2M | $53.0M | ||
| Q4 24 | $133.5M | $244.0M | ||
| Q3 24 | $145.4M | $158.5M | ||
| Q2 24 | $146.7M | $165.3M |
毛利率MHOSF
| Q1 26 | — | — | ||
| Q4 25 | 17.4% | — | ||
| Q3 25 | 24.5% | — | ||
| Q2 25 | 24.7% | — | ||
| Q1 25 | 25.9% | — | ||
| Q4 24 | 24.6% | — | ||
| Q3 24 | 27.1% | — | ||
| Q2 24 | 27.9% | — |
营业利润率MHOSF
| Q1 26 | — | 30.8% | ||
| Q4 25 | 6.5% | 27.3% | ||
| Q3 25 | 12.0% | 29.7% | ||
| Q2 25 | 13.4% | 25.5% | ||
| Q1 25 | 14.4% | 7.5% | ||
| Q4 24 | 13.6% | 29.1% | ||
| Q3 24 | 15.9% | 26.7% | ||
| Q2 24 | 16.8% | 28.4% |
净利率MHOSF
| Q1 26 | — | 15.1% | ||
| Q4 25 | 5.6% | 23.5% | ||
| Q3 25 | 9.4% | 22.0% | ||
| Q2 25 | 10.4% | 18.5% | ||
| Q1 25 | 11.4% | 6.3% | ||
| Q4 24 | 11.1% | 26.6% | ||
| Q3 24 | 12.7% | 19.5% | ||
| Q2 24 | 13.2% | 20.7% |
每股收益（稀释后）MHOSF
| Q1 26 | — | $1.48 | ||
| Q4 25 | $2.42 | $2.30 | ||
| Q3 25 | $3.92 | $1.84 | ||
| Q2 25 | $4.42 | $1.34 | ||
| Q1 25 | $3.98 | $0.39 | ||
| Q4 24 | $4.71 | $2.10 | ||
| Q3 24 | $5.10 | $1.34 | ||
| Q2 24 | $5.12 | $1.41 |
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 | — | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.2B | $332.3M |
| 总资产 | $4.8B | $42.9B |
| 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MHOSF
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $2.6B |
总债务MHOSF
| Q1 26 | — | — | ||
| Q4 25 | — | $617.4M | ||
| Q3 25 | — | $617.2M | ||
| Q2 25 | — | $617.0M | ||
| Q1 25 | — | $616.8M | ||
| Q4 24 | — | $616.6M | ||
| Q3 24 | — | $616.4M | ||
| Q2 24 | — | $1.1B |
股东权益MHOSF
| Q1 26 | — | $332.3M | ||
| Q4 25 | $3.2B | $6.0B | ||
| Q3 25 | $3.1B | $5.8B | ||
| Q2 25 | $3.1B | $5.6B | ||
| Q1 25 | $3.0B | $5.5B | ||
| Q4 24 | $2.9B | $5.7B | ||
| Q3 24 | $2.8B | $5.6B | ||
| Q2 24 | $2.7B | $5.4B |
总资产MHOSF
| Q1 26 | — | $42.9B | ||
| Q4 25 | $4.8B | $41.3B | ||
| Q3 25 | $4.8B | $41.7B | ||
| Q2 25 | $4.7B | $39.9B | ||
| Q1 25 | $4.6B | $40.4B | ||
| Q4 24 | $4.5B | $39.9B | ||
| Q3 24 | $4.5B | $38.9B | ||
| Q2 24 | $4.3B | $37.8B |
负债/权益比MHOSF
| Q1 26 | — | — | ||
| Q4 25 | — | 0.10× | ||
| Q3 25 | — | 0.11× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.11× | ||
| Q2 24 | — | 0.21× |
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 | — |
| 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× | — |
| 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MHOSF
| Q1 26 | — | — | ||
| Q4 25 | $-8.7M | $382.4M | ||
| Q3 25 | $43.4M | $338.3M | ||
| Q2 25 | $37.8M | $607.5M | ||
| Q1 25 | $64.9M | $-211.2M | ||
| Q4 24 | $104.4M | $694.6M | ||
| Q3 24 | $-67.9M | $198.3M | ||
| Q2 24 | $27.5M | $207.2M |
自由现金流MHOSF
| Q1 26 | — | — | ||
| Q4 25 | $-13.0M | $369.0M | ||
| Q3 25 | $42.0M | $321.1M | ||
| Q2 25 | $35.1M | $592.7M | ||
| Q1 25 | $63.5M | $-227.8M | ||
| Q4 24 | $102.3M | $677.2M | ||
| Q3 24 | $-68.5M | $185.6M | ||
| Q2 24 | $22.0M | $173.3M |
自由现金流率MHOSF
| Q1 26 | — | — | ||
| Q4 25 | -1.1% | 32.7% | ||
| Q3 25 | 3.7% | 33.4% | ||
| Q2 25 | 3.0% | 70.6% | ||
| Q1 25 | 6.5% | -27.0% | ||
| Q4 24 | 8.5% | 73.9% | ||
| Q3 24 | -6.0% | 22.9% | ||
| Q2 24 | 2.0% | 21.7% |
资本支出强度MHOSF
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | 1.2% | ||
| Q3 25 | 0.1% | 1.8% | ||
| Q2 25 | 0.2% | 1.8% | ||
| Q1 25 | 0.1% | 2.0% | ||
| Q4 24 | 0.2% | 1.9% | ||
| Q3 24 | 0.1% | 1.6% | ||
| Q2 24 | 0.5% | 4.2% |
现金转化率MHOSF
| Q1 26 | — | — | ||
| Q4 25 | -0.14× | 1.45× | ||
| Q3 25 | 0.41× | 1.60× | ||
| Q2 25 | 0.31× | 3.92× | ||
| Q1 25 | 0.58× | -3.99× | ||
| Q4 24 | 0.78× | 2.85× | ||
| Q3 24 | -0.47× | 1.25× | ||
| Q2 24 | 0.19× | 1.25× |
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% |
SF
| Other | $506.7M | 30% |
| Asset management | $459.5M | 28% |
| Investment banking | $341.4M | 20% |
| Commissions | $207.8M | 12% |
| Principal transactions | $150.2M | 9% |
