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M/I HOMES, INC.（MHO）与Ubiquiti Inc.（UI）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Ubiquiti Inc.的1.4倍（$1.1B vs $814.9M），Ubiquiti Inc.净利率更高（28.7% vs 5.6%，领先23.1%），Ubiquiti Inc.同比增速更快（35.8% vs -4.8%），Ubiquiti Inc.自由现金流更多（$260.3M vs $-13.0M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% 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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
MHO vs UI — 直观对比
营收规模更大
MHO
是对方的1.4倍
$814.9M
营收增速更快
UI
高出40.6%
-4.8%
净利率更高
UI
高出23.1%
5.6%
自由现金流更多
UI
多$273.2M
$-13.0M
两年增速更快
UI
近两年复合增速
4.7%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $814.9M |
| 净利润 | $64.0M | $233.6M |
| 毛利率 | 17.4% | 45.9% |
| 营业利润率 | 6.5% | 35.9% |
| 净利率 | 5.6% | 28.7% |
| 营收同比 | -4.8% | 35.8% |
| 净利润同比 | -52.1% | 70.8% |
| 每股收益（稀释后） | $2.42 | $3.86 |
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MHOUI
| Q4 25 | $1.1B | $814.9M | ||
| Q3 25 | $1.1B | $733.8M | ||
| Q2 25 | $1.2B | $759.2M | ||
| Q1 25 | $976.1M | $664.2M | ||
| Q4 24 | $1.2B | $599.9M | ||
| Q3 24 | $1.1B | $550.3M | ||
| Q2 24 | $1.1B | $507.5M | ||
| Q1 24 | $1.0B | $493.0M |
净利润MHOUI
| Q4 25 | $64.0M | $233.6M | ||
| Q3 25 | $106.5M | $207.9M | ||
| Q2 25 | $121.2M | $266.7M | ||
| Q1 25 | $111.2M | $180.4M | ||
| Q4 24 | $133.5M | $136.8M | ||
| Q3 24 | $145.4M | $128.0M | ||
| Q2 24 | $146.7M | $103.8M | ||
| Q1 24 | $138.1M | $76.3M |
毛利率MHOUI
| Q4 25 | 17.4% | 45.9% | ||
| Q3 25 | 24.5% | 46.0% | ||
| Q2 25 | 24.7% | 45.1% | ||
| Q1 25 | 25.9% | 44.5% | ||
| Q4 24 | 24.6% | 41.2% | ||
| Q3 24 | 27.1% | 42.1% | ||
| Q2 24 | 27.9% | 40.2% | ||
| Q1 24 | 27.1% | 35.3% |
营业利润率MHOUI
| Q4 25 | 6.5% | 35.9% | ||
| Q3 25 | 12.0% | 35.7% | ||
| Q2 25 | 13.4% | 34.4% | ||
| Q1 25 | 14.4% | 34.2% | ||
| Q4 24 | 13.6% | 29.8% | ||
| Q3 24 | 15.9% | 30.7% | ||
| Q2 24 | 16.8% | 27.3% | ||
| Q1 24 | 16.6% | 22.6% |
净利率MHOUI
| Q4 25 | 5.6% | 28.7% | ||
| Q3 25 | 9.4% | 28.3% | ||
| Q2 25 | 10.4% | 35.1% | ||
| Q1 25 | 11.4% | 27.2% | ||
| Q4 24 | 11.1% | 22.8% | ||
| Q3 24 | 12.7% | 23.3% | ||
| Q2 24 | 13.2% | 20.5% | ||
| Q1 24 | 13.2% | 15.5% |
每股收益（稀释后）MHOUI
| Q4 25 | $2.42 | $3.86 | ||
| Q3 25 | $3.92 | $3.43 | ||
| Q2 25 | $4.42 | $4.40 | ||
| Q1 25 | $3.98 | $2.98 | ||
| Q4 24 | $4.71 | $2.26 | ||
| Q3 24 | $5.10 | $2.12 | ||
| Q2 24 | $5.12 | $1.72 | ||
| 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 | — | $302.8M |
| 总债务越低越好 | — | $47.5M |
| 股东权益账面价值 | $3.2B | $1.0B |
| 总资产 | $4.8B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资MHOUI
| Q4 25 | — | $302.8M | ||
| Q3 25 | — | $177.2M | ||
| Q2 25 | — | $149.7M | ||
| Q1 25 | — | $151.0M | ||
| Q4 24 | — | $133.1M | ||
| Q3 24 | — | $165.2M | ||
| Q2 24 | — | $126.3M | ||
| Q1 24 | — | $102.5M |
总债务MHOUI
| Q4 25 | — | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益MHOUI
| Q4 25 | $3.2B | $1.0B | ||
| Q3 25 | $3.1B | $828.4M | ||
| Q2 25 | $3.1B | $668.3M | ||
| Q1 25 | $3.0B | $436.1M | ||
| Q4 24 | $2.9B | $290.4M | ||
| Q3 24 | $2.8B | $188.1M | ||
| Q2 24 | $2.7B | $95.1M | ||
| Q1 24 | $2.6B | $25.9M |
总资产MHOUI
| Q4 25 | $4.8B | $1.6B | ||
| Q3 25 | $4.8B | $1.5B | ||
| Q2 25 | $4.7B | $1.5B | ||
| Q1 25 | $4.6B | $1.3B | ||
| Q4 24 | $4.5B | $1.2B | ||
| Q3 24 | $4.5B | $1.2B | ||
| Q2 24 | $4.3B | $1.2B | ||
| Q1 24 | $4.2B | $1.2B |
负债/权益比MHOUI
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 33.92× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $-13.0M | $260.3M |
| 自由现金流率自由现金流/营收 | -1.1% | 31.9% |
| 资本支出强度资本支出/营收 | 0.4% | 0.4% |
| 现金转化率经营现金流/净利润 | -0.14× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $127.7M | $699.5M |
8季度趋势，按日历期对齐
经营现金流MHOUI
| Q4 25 | $-8.7M | $263.9M | ||
| Q3 25 | $43.4M | $198.5M | ||
| Q2 25 | $37.8M | $130.4M | ||
| Q1 25 | $64.9M | $123.6M | ||
| Q4 24 | $104.4M | $152.4M | ||
| Q3 24 | $-67.9M | $233.7M | ||
| Q2 24 | $27.5M | $231.4M | ||
| Q1 24 | $115.8M | $163.9M |
自由现金流MHOUI
| Q4 25 | $-13.0M | $260.3M | ||
| Q3 25 | $42.0M | $193.3M | ||
| Q2 25 | $35.1M | $125.2M | ||
| Q1 25 | $63.5M | $120.7M | ||
| Q4 24 | $102.3M | $150.4M | ||
| Q3 24 | $-68.5M | $231.1M | ||
| Q2 24 | $22.0M | $229.5M | ||
| Q1 24 | $115.5M | $160.6M |
自由现金流率MHOUI
| Q4 25 | -1.1% | 31.9% | ||
| Q3 25 | 3.7% | 26.3% | ||
| Q2 25 | 3.0% | 16.5% | ||
| Q1 25 | 6.5% | 18.2% | ||
| Q4 24 | 8.5% | 25.1% | ||
| Q3 24 | -6.0% | 42.0% | ||
| Q2 24 | 2.0% | 45.2% | ||
| Q1 24 | 11.0% | 32.6% |
资本支出强度MHOUI
| Q4 25 | 0.4% | 0.4% | ||
| Q3 25 | 0.1% | 0.7% | ||
| Q2 25 | 0.2% | 0.7% | ||
| Q1 25 | 0.1% | 0.4% | ||
| Q4 24 | 0.2% | 0.3% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.5% | 0.4% | ||
| Q1 24 | 0.0% | 0.7% |
现金转化率MHOUI
| Q4 25 | -0.14× | 1.13× | ||
| Q3 25 | 0.41× | 0.95× | ||
| Q2 25 | 0.31× | 0.49× | ||
| Q1 25 | 0.58× | 0.68× | ||
| Q4 24 | 0.78× | 1.11× | ||
| Q3 24 | -0.47× | 1.83× | ||
| Q2 24 | 0.19× | 2.23× | ||
| Q1 24 | 0.84× | 2.15× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
