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M/I HOMES, INC.（MHO）与Tyler Technologies（TYL）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Tyler Technologies的2.0倍（$1.1B vs $575.2M），Tyler Technologies净利率更高（11.4% vs 5.6%，领先5.8%），Tyler Technologies同比增速更快（6.3% vs -4.8%），Tyler Technologies自由现金流更多（$239.6M vs $-13.0M），过去两年Tyler Technologies的营收复合增速更高（6.0% 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。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
MHO vs TYL — 直观对比
营收规模更大
MHO
是对方的2.0倍
$575.2M
营收增速更快
TYL
高出11.1%
-4.8%
净利率更高
TYL
高出5.8%
5.6%
自由现金流更多
TYL
多$252.5M
$-13.0M
两年增速更快
TYL
近两年复合增速
4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $575.2M |
| 净利润 | $64.0M | $65.5M |
| 毛利率 | 17.4% | 45.5% |
| 营业利润率 | 6.5% | 13.0% |
| 净利率 | 5.6% | 11.4% |
| 营收同比 | -4.8% | 6.3% |
| 净利润同比 | -52.1% | 0.5% |
| 每股收益（稀释后） | $2.42 | $1.50 |
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MHOTYL
| Q4 25 | $1.1B | $575.2M | ||
| Q3 25 | $1.1B | $595.9M | ||
| Q2 25 | $1.2B | $596.1M | ||
| Q1 25 | $976.1M | $565.2M | ||
| Q4 24 | $1.2B | $541.1M | ||
| Q3 24 | $1.1B | $543.3M | ||
| Q2 24 | $1.1B | $541.0M | ||
| Q1 24 | $1.0B | $512.4M |
净利润MHOTYL
| Q4 25 | $64.0M | $65.5M | ||
| Q3 25 | $106.5M | $84.4M | ||
| Q2 25 | $121.2M | $84.6M | ||
| Q1 25 | $111.2M | $81.1M | ||
| Q4 24 | $133.5M | $65.2M | ||
| Q3 24 | $145.4M | $75.9M | ||
| Q2 24 | $146.7M | $67.7M | ||
| Q1 24 | $138.1M | $54.2M |
毛利率MHOTYL
| Q4 25 | 17.4% | 45.5% | ||
| Q3 25 | 24.5% | 47.2% | ||
| Q2 25 | 24.7% | 45.8% | ||
| Q1 25 | 25.9% | 47.3% | ||
| Q4 24 | 24.6% | 43.8% | ||
| Q3 24 | 27.1% | 43.7% | ||
| Q2 24 | 27.9% | 44.0% | ||
| Q1 24 | 27.1% | 43.7% |
营业利润率MHOTYL
| Q4 25 | 6.5% | 13.0% | ||
| Q3 25 | 12.0% | 16.4% | ||
| Q2 25 | 13.4% | 16.0% | ||
| Q1 25 | 14.4% | 15.8% | ||
| Q4 24 | 13.6% | 13.2% | ||
| Q3 24 | 15.9% | 15.2% | ||
| Q2 24 | 16.8% | 14.4% | ||
| Q1 24 | 16.6% | 13.1% |
净利率MHOTYL
| Q4 25 | 5.6% | 11.4% | ||
| Q3 25 | 9.4% | 14.2% | ||
| Q2 25 | 10.4% | 14.2% | ||
| Q1 25 | 11.4% | 14.3% | ||
| Q4 24 | 11.1% | 12.1% | ||
| Q3 24 | 12.7% | 14.0% | ||
| Q2 24 | 13.2% | 12.5% | ||
| Q1 24 | 13.2% | 10.6% |
每股收益（稀释后）MHOTYL
| Q4 25 | $2.42 | $1.50 | ||
| Q3 25 | $3.92 | $1.93 | ||
| Q2 25 | $4.42 | $1.93 | ||
| Q1 25 | $3.98 | $1.84 | ||
| Q4 24 | $4.71 | $1.48 | ||
| Q3 24 | $5.10 | $1.74 | ||
| Q2 24 | $5.12 | $1.57 | ||
| Q1 24 | $4.78 | $1.26 |
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 | — | $1.1B |
| 总债务越低越好 | — | $599.7M |
| 股东权益账面价值 | $3.2B | $3.7B |
| 总资产 | $4.8B | $5.6B |
| 负债/权益比越低杠杆越低 | — | 0.16× |
8季度趋势，按日历期对齐
现金及短期投资MHOTYL
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $950.8M | ||
| Q2 25 | — | $892.3M | ||
| Q1 25 | — | $807.4M | ||
| Q4 24 | — | $768.0M | ||
| Q3 24 | — | $544.3M | ||
| Q2 24 | — | $258.0M | ||
| Q1 24 | — | $196.9M |
总债务MHOTYL
| Q4 25 | — | $599.7M | ||
| Q3 25 | — | $599.2M | ||
| Q2 25 | — | $598.8M | ||
| Q1 25 | — | $598.4M | ||
| Q4 24 | — | $597.9M | ||
| Q3 24 | — | $597.5M | ||
| Q2 24 | — | $597.1M | ||
| Q1 24 | — | $596.6M |
股东权益MHOTYL
| Q4 25 | $3.2B | $3.7B | ||
| Q3 25 | $3.1B | $3.6B | ||
| Q2 25 | $3.1B | $3.6B | ||
| Q1 25 | $3.0B | $3.5B | ||
| Q4 24 | $2.9B | $3.4B | ||
| Q3 24 | $2.8B | $3.3B | ||
| Q2 24 | $2.7B | $3.1B | ||
| Q1 24 | $2.6B | $3.0B |
总资产MHOTYL
| Q4 25 | $4.8B | $5.6B | ||
| Q3 25 | $4.8B | $5.5B | ||
| Q2 25 | $4.7B | $5.4B | ||
| Q1 25 | $4.6B | $5.2B | ||
| Q4 24 | $4.5B | $5.2B | ||
| Q3 24 | $4.5B | $5.0B | ||
| Q2 24 | $4.3B | $4.8B | ||
| Q1 24 | $4.2B | $4.6B |
负债/权益比MHOTYL
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 0.16× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.19× | ||
| Q1 24 | — | 0.20× |
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 | $243.9M |
| 自由现金流经营现金流 - 资本支出 | $-13.0M | $239.6M |
| 自由现金流率自由现金流/营收 | -1.1% | 41.7% |
| 资本支出强度资本支出/营收 | 0.4% | 0.8% |
| 现金转化率经营现金流/净利润 | -0.14× | 3.72× |
| 过去12个月自由现金流最近4个季度 | $127.7M | $637.5M |
8季度趋势，按日历期对齐
经营现金流MHOTYL
| Q4 25 | $-8.7M | $243.9M | ||
| Q3 25 | $43.4M | $255.2M | ||
| Q2 25 | $37.8M | $98.3M | ||
| Q1 25 | $64.9M | $56.2M | ||
| Q4 24 | $104.4M | $224.8M | ||
| Q3 24 | $-67.9M | $263.7M | ||
| Q2 24 | $27.5M | $64.3M | ||
| Q1 24 | $115.8M | $71.8M |
自由现金流MHOTYL
| Q4 25 | $-13.0M | $239.6M | ||
| Q3 25 | $42.0M | $251.3M | ||
| Q2 25 | $35.1M | $92.8M | ||
| Q1 25 | $63.5M | $53.8M | ||
| Q4 24 | $102.3M | $221.0M | ||
| Q3 24 | $-68.5M | $260.8M | ||
| Q2 24 | $22.0M | $57.7M | ||
| Q1 24 | $115.5M | $64.6M |
自由现金流率MHOTYL
| Q4 25 | -1.1% | 41.7% | ||
| Q3 25 | 3.7% | 42.2% | ||
| Q2 25 | 3.0% | 15.6% | ||
| Q1 25 | 6.5% | 9.5% | ||
| Q4 24 | 8.5% | 40.8% | ||
| Q3 24 | -6.0% | 48.0% | ||
| Q2 24 | 2.0% | 10.7% | ||
| Q1 24 | 11.0% | 12.6% |
资本支出强度MHOTYL
| Q4 25 | 0.4% | 0.8% | ||
| Q3 25 | 0.1% | 0.7% | ||
| Q2 25 | 0.2% | 0.9% | ||
| Q1 25 | 0.1% | 0.4% | ||
| Q4 24 | 0.2% | 0.7% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.5% | 1.2% | ||
| Q1 24 | 0.0% | 1.4% |
现金转化率MHOTYL
| Q4 25 | -0.14× | 3.72× | ||
| Q3 25 | 0.41× | 3.02× | ||
| Q2 25 | 0.31× | 1.16× | ||
| Q1 25 | 0.58× | 0.69× | ||
| Q4 24 | 0.78× | 3.45× | ||
| Q3 24 | -0.47× | 3.47× | ||
| Q2 24 | 0.19× | 0.95× | ||
| Q1 24 | 0.84× | 1.33× |
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% |
TYL
| Saas Arrangements | $186.1M | 32% |
| Platform Technologies Segment | $143.3M | 25% |
| Maintenance | $109.4M | 19% |
| Professional Services | $55.3M | 10% |
| Nonrecurring Revenue | $51.3M | 9% |
| Other | $21.4M | 4% |
| Hardware And Other | $8.4M | 1% |
