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M/I HOMES, INC.（MHO）与Toast, Inc.（TOST）财务数据对比。点击上方公司名可切换其他公司
Toast, Inc.的季度营收约是M/I HOMES, INC.的1.4倍（$1.6B vs $1.1B），Toast, Inc.净利率更高（6.2% vs 5.6%，领先0.6%），Toast, Inc.同比增速更快（22.0% vs -4.8%），Toast, Inc.自由现金流更多（$178.0M vs $-13.0M），过去两年Toast, Inc.的营收复合增速更高（23.3% 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。
Toast, Inc.是总部位于美国马萨诸塞州波士顿的云餐饮管理软件企业，主打基于安卓操作系统研发的一体化销售点（POS）系统，可为餐饮商家提供涵盖收银、订单管理等在内的全场景门店经营解决方案。
MHO vs TOST — 直观对比
营收规模更大
TOST
是对方的1.4倍
$1.1B
营收增速更快
TOST
高出26.9%
-4.8%
净利率更高
TOST
高出0.6%
5.6%
自由现金流更多
TOST
多$191.0M
$-13.0M
两年增速更快
TOST
近两年复合增速
4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.6B |
| 净利润 | $64.0M | $101.0M |
| 毛利率 | 17.4% | 25.9% |
| 营业利润率 | 6.5% | 5.2% |
| 净利率 | 5.6% | 6.2% |
| 营收同比 | -4.8% | 22.0% |
| 净利润同比 | -52.1% | 215.6% |
| 每股收益（稀释后） | $2.42 | $0.18 |
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MHOTOST
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.2B | $1.6B | ||
| Q1 25 | $976.1M | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.0B | $1.1B |
净利润MHOTOST
| Q4 25 | $64.0M | $101.0M | ||
| Q3 25 | $106.5M | $105.0M | ||
| Q2 25 | $121.2M | $80.0M | ||
| Q1 25 | $111.2M | $56.0M | ||
| Q4 24 | $133.5M | $32.0M | ||
| Q3 24 | $145.4M | $56.0M | ||
| Q2 24 | $146.7M | $14.0M | ||
| Q1 24 | $138.1M | $-83.0M |
毛利率MHOTOST
| Q4 25 | 17.4% | 25.9% | ||
| Q3 25 | 24.5% | 26.5% | ||
| Q2 25 | 24.7% | 25.3% | ||
| Q1 25 | 25.9% | 25.9% | ||
| Q4 24 | 24.6% | 24.9% | ||
| Q3 24 | 27.1% | 24.7% | ||
| Q2 24 | 27.9% | 23.0% | ||
| Q1 24 | 27.1% | 23.2% |
营业利润率MHOTOST
| Q4 25 | 6.5% | 5.2% | ||
| Q3 25 | 12.0% | 5.1% | ||
| Q2 25 | 13.4% | 5.2% | ||
| Q1 25 | 14.4% | 3.2% | ||
| Q4 24 | 13.6% | 2.5% | ||
| Q3 24 | 15.9% | 2.6% | ||
| Q2 24 | 16.8% | 0.4% | ||
| Q1 24 | 16.6% | -5.2% |
净利率MHOTOST
| Q4 25 | 5.6% | 6.2% | ||
| Q3 25 | 9.4% | 6.4% | ||
| Q2 25 | 10.4% | 5.2% | ||
| Q1 25 | 11.4% | 4.2% | ||
| Q4 24 | 11.1% | 2.4% | ||
| Q3 24 | 12.7% | 4.3% | ||
| Q2 24 | 13.2% | 1.1% | ||
| Q1 24 | 13.2% | -7.7% |
每股收益（稀释后）MHOTOST
| Q4 25 | $2.42 | $0.18 | ||
| Q3 25 | $3.92 | $0.16 | ||
| Q2 25 | $4.42 | $0.13 | ||
| Q1 25 | $3.98 | $0.09 | ||
| Q4 24 | $4.71 | $0.09 | ||
| Q3 24 | $5.10 | $0.07 | ||
| Q2 24 | $5.12 | $0.02 | ||
| Q1 24 | $4.78 | $-0.15 |
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 | — | — |
| 股东权益账面价值 | $3.2B | $2.1B |
| 总资产 | $4.8B | $3.1B |
| 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MHOTOST
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $903.0M | ||
| Q3 24 | — | $761.0M | ||
| Q2 24 | — | $691.0M | ||
| Q1 24 | — | $578.0M |
股东权益MHOTOST
| Q4 25 | $3.2B | $2.1B | ||
| Q3 25 | $3.1B | $2.0B | ||
| Q2 25 | $3.1B | $1.8B | ||
| Q1 25 | $3.0B | $1.7B | ||
| Q4 24 | $2.9B | $1.5B | ||
| Q3 24 | $2.8B | $1.4B | ||
| Q2 24 | $2.7B | $1.3B | ||
| Q1 24 | $2.6B | $1.2B |
总资产MHOTOST
| Q4 25 | $4.8B | $3.1B | ||
| Q3 25 | $4.8B | $3.0B | ||
| Q2 25 | $4.7B | $2.8B | ||
| Q1 25 | $4.6B | $2.6B | ||
| Q4 24 | $4.5B | $2.4B | ||
| Q3 24 | $4.5B | $2.2B | ||
| Q2 24 | $4.3B | $2.2B | ||
| Q1 24 | $4.2B | $2.1B |
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 | $194.0M |
| 自由现金流经营现金流 - 资本支出 | $-13.0M | $178.0M |
| 自由现金流率自由现金流/营收 | -1.1% | 10.9% |
| 资本支出强度资本支出/营收 | 0.4% | 1.0% |
| 现金转化率经营现金流/净利润 | -0.14× | 1.92× |
| 过去12个月自由现金流最近4个季度 | $127.7M | $608.0M |
8季度趋势，按日历期对齐
经营现金流MHOTOST
| Q4 25 | $-8.7M | $194.0M | ||
| Q3 25 | $43.4M | $165.0M | ||
| Q2 25 | $37.8M | $223.0M | ||
| Q1 25 | $64.9M | $79.0M | ||
| Q4 24 | $104.4M | $147.0M | ||
| Q3 24 | $-67.9M | $109.0M | ||
| Q2 24 | $27.5M | $124.0M | ||
| Q1 24 | $115.8M | $-20.0M |
自由现金流MHOTOST
| Q4 25 | $-13.0M | $178.0M | ||
| Q3 25 | $42.0M | $153.0M | ||
| Q2 25 | $35.1M | $208.0M | ||
| Q1 25 | $63.5M | $69.0M | ||
| Q4 24 | $102.3M | $134.0M | ||
| Q3 24 | $-68.5M | $97.0M | ||
| Q2 24 | $22.0M | $108.0M | ||
| Q1 24 | $115.5M | $-33.0M |
自由现金流率MHOTOST
| Q4 25 | -1.1% | 10.9% | ||
| Q3 25 | 3.7% | 9.4% | ||
| Q2 25 | 3.0% | 13.4% | ||
| Q1 25 | 6.5% | 5.2% | ||
| Q4 24 | 8.5% | 10.0% | ||
| Q3 24 | -6.0% | 7.4% | ||
| Q2 24 | 2.0% | 8.7% | ||
| Q1 24 | 11.0% | -3.1% |
资本支出强度MHOTOST
| Q4 25 | 0.4% | 1.0% | ||
| Q3 25 | 0.1% | 0.7% | ||
| Q2 25 | 0.2% | 1.0% | ||
| Q1 25 | 0.1% | 0.7% | ||
| Q4 24 | 0.2% | 1.0% | ||
| Q3 24 | 0.1% | 0.9% | ||
| Q2 24 | 0.5% | 1.3% | ||
| Q1 24 | 0.0% | 1.2% |
现金转化率MHOTOST
| Q4 25 | -0.14× | 1.92× | ||
| Q3 25 | 0.41× | 1.57× | ||
| Q2 25 | 0.31× | 2.79× | ||
| Q1 25 | 0.58× | 1.41× | ||
| Q4 24 | 0.78× | 4.59× | ||
| Q3 24 | -0.47× | 1.95× | ||
| Q2 24 | 0.19× | 8.86× | ||
| 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% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
