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M/I HOMES, INC.（MHO）与Vestis Corp（VSTS）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Vestis Corp的1.7倍（$1.1B vs $663.4M），M/I HOMES, INC.净利率更高（5.6% vs -1.0%，领先6.5%），Vestis Corp同比增速更快（-3.0% vs -4.8%），Vestis Corp自由现金流更多（$28.3M vs $-13.0M），过去两年M/I HOMES, INC.的营收复合增速更高（4.7% vs -3.0%）
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。
Vestis Corp是北美领先的工作制服、安全防护服饰及配套设施服务供应商，服务覆盖医疗、制造、零售、餐饮住宿、公共服务等多个领域，为企业客户提供定制化的制服租赁、清洁与日常维护解决方案。
MHO vs VSTS — 直观对比
营收规模更大
MHO
是对方的1.7倍
$663.4M
营收增速更快
VSTS
高出1.8%
-4.8%
净利率更高
MHO
高出6.5%
-1.0%
自由现金流更多
VSTS
多$41.3M
$-13.0M
两年增速更快
MHO
近两年复合增速
-3.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $663.4M |
| 净利润 | $64.0M | $-6.4M |
| 毛利率 | 17.4% | — |
| 营业利润率 | 6.5% | 2.5% |
| 净利率 | 5.6% | -1.0% |
| 营收同比 | -4.8% | -3.0% |
| 净利润同比 | -52.1% | -868.1% |
| 每股收益（稀释后） | $2.42 | $-0.05 |
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MHOVSTS
| Q1 26 | — | $663.4M | ||
| Q4 25 | $1.1B | $712.0M | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.2B | $673.8M | ||
| Q1 25 | $976.1M | $665.2M | ||
| Q4 24 | $1.2B | $683.8M | ||
| Q3 24 | $1.1B | $684.3M | ||
| Q2 24 | $1.1B | $698.2M |
净利润MHOVSTS
| Q1 26 | — | $-6.4M | ||
| Q4 25 | $64.0M | $-12.5M | ||
| Q3 25 | $106.5M | — | ||
| Q2 25 | $121.2M | $-676.0K | ||
| Q1 25 | $111.2M | $-27.8M | ||
| Q4 24 | $133.5M | $832.0K | ||
| Q3 24 | $145.4M | $-2.3M | ||
| Q2 24 | $146.7M | $5.0M |
毛利率MHOVSTS
| 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MHOVSTS
| Q1 26 | — | 2.5% | ||
| Q4 25 | 6.5% | 2.5% | ||
| Q3 25 | 12.0% | — | ||
| Q2 25 | 13.4% | 3.7% | ||
| Q1 25 | 14.4% | -1.3% | ||
| Q4 24 | 13.6% | 4.4% | ||
| Q3 24 | 15.9% | 4.4% | ||
| Q2 24 | 16.8% | 5.4% |
净利率MHOVSTS
| Q1 26 | — | -1.0% | ||
| Q4 25 | 5.6% | -1.8% | ||
| Q3 25 | 9.4% | — | ||
| Q2 25 | 10.4% | -0.1% | ||
| Q1 25 | 11.4% | -4.2% | ||
| Q4 24 | 11.1% | 0.1% | ||
| Q3 24 | 12.7% | -0.3% | ||
| Q2 24 | 13.2% | 0.7% |
每股收益（稀释后）MHOVSTS
| Q1 26 | — | $-0.05 | ||
| Q4 25 | $2.42 | $-0.10 | ||
| Q3 25 | $3.92 | — | ||
| Q2 25 | $4.42 | $-0.01 | ||
| Q1 25 | $3.98 | $-0.21 | ||
| Q4 24 | $4.71 | $0.01 | ||
| Q3 24 | $5.10 | $-0.02 | ||
| Q2 24 | $5.12 | $0.04 |
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 | — | $41.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.2B | $864.4M |
| 总资产 | $4.8B | $2.9B |
| 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MHOVSTS
| Q1 26 | — | $41.5M | ||
| Q4 25 | — | $29.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $23.7M | ||
| Q1 25 | — | $28.8M | ||
| Q4 24 | — | $18.6M | ||
| Q3 24 | — | $31.0M | ||
| Q2 24 | — | $29.1M |
总债务MHOVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — |
股东权益MHOVSTS
| Q1 26 | — | $864.4M | ||
| Q4 25 | $3.2B | $865.6M | ||
| Q3 25 | $3.1B | — | ||
| Q2 25 | $3.1B | $882.2M | ||
| Q1 25 | $3.0B | $876.3M | ||
| Q4 24 | $2.9B | $899.6M | ||
| Q3 24 | $2.8B | $903.1M | ||
| Q2 24 | $2.7B | $901.2M |
总资产MHOVSTS
| Q1 26 | — | $2.9B | ||
| Q4 25 | $4.8B | $2.9B | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $4.7B | $2.9B | ||
| Q1 25 | $4.6B | $2.9B | ||
| Q4 24 | $4.5B | $2.9B | ||
| Q3 24 | $4.5B | $2.9B | ||
| Q2 24 | $4.3B | $3.1B |
负债/权益比MHOVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | 1.35× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | — |
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 | $37.7M |
| 自由现金流经营现金流 - 资本支出 | $-13.0M | $28.3M |
| 自由现金流率自由现金流/营收 | -1.1% | 4.3% |
| 资本支出强度资本支出/营收 | 0.4% | 1.4% |
| 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 | $45.0M |
8季度趋势，按日历期对齐
经营现金流MHOVSTS
| Q1 26 | — | $37.7M | ||
| Q4 25 | $-8.7M | $30.9M | ||
| Q3 25 | $43.4M | — | ||
| Q2 25 | $37.8M | $22.9M | ||
| Q1 25 | $64.9M | $6.7M | ||
| Q4 24 | $104.4M | $3.8M | ||
| Q3 24 | $-67.9M | $295.6M | ||
| Q2 24 | $27.5M | $48.7M |
自由现金流MHOVSTS
| Q1 26 | — | $28.3M | ||
| Q4 25 | $-13.0M | $15.6M | ||
| Q3 25 | $42.0M | — | ||
| Q2 25 | $35.1M | $8.0M | ||
| Q1 25 | $63.5M | $-6.9M | ||
| Q4 24 | $102.3M | $-11.0M | ||
| Q3 24 | $-68.5M | $267.5M | ||
| Q2 24 | $22.0M | $27.7M |
自由现金流率MHOVSTS
| Q1 26 | — | 4.3% | ||
| Q4 25 | -1.1% | 2.2% | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | 3.0% | 1.2% | ||
| Q1 25 | 6.5% | -1.0% | ||
| Q4 24 | 8.5% | -1.6% | ||
| Q3 24 | -6.0% | 39.1% | ||
| Q2 24 | 2.0% | 4.0% |
资本支出强度MHOVSTS
| Q1 26 | — | 1.4% | ||
| Q4 25 | 0.4% | 2.2% | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.2% | 2.2% | ||
| Q1 25 | 0.1% | 2.0% | ||
| Q4 24 | 0.2% | 2.2% | ||
| Q3 24 | 0.1% | 4.1% | ||
| Q2 24 | 0.5% | 3.0% |
现金转化率MHOVSTS
| Q1 26 | — | — | ||
| Q4 25 | -0.14× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | 0.78× | 4.54× | ||
| Q3 24 | -0.47× | — | ||
| Q2 24 | 0.19× | 9.66× |
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% |
VSTS
| Workplace Supplies | $375.2M | 57% |
| Uniforms | $227.7M | 34% |
| Other | $60.5M | 9% |
