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M/I HOMES, INC.（MHO）与Williams-Sonoma, Inc.（WSM）财务数据对比。点击上方公司名可切换其他公司
Williams-Sonoma, Inc.的季度营收约是M/I HOMES, INC.的1.6倍（$1.9B vs $1.1B），Williams-Sonoma, Inc.净利率更高（12.8% vs 5.6%，领先7.3%），Williams-Sonoma, Inc.同比增速更快（4.6% vs -4.8%），Williams-Sonoma, Inc.自由现金流更多（$248.1M vs $-13.0M），过去两年M/I HOMES, INC.的营收复合增速更高（4.7% vs -9.1%）
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。
Williams-Sonoma, Inc.是美国知名家居零售企业，1956年由查尔斯·E·威廉姆斯创立，主营高品质炊具、家居家电、家居软装等多元品类产品，在家居消费领域拥有广泛的用户基础与较高的市场认可度。
MHO vs WSM — 直观对比
营收规模更大
WSM
是对方的1.6倍
$1.1B
营收增速更快
WSM
高出9.4%
-4.8%
净利率更高
WSM
高出7.3%
5.6%
自由现金流更多
WSM
多$261.0M
$-13.0M
两年增速更快
MHO
近两年复合增速
-9.1%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.9B |
| 净利润 | $64.0M | $241.6M |
| 毛利率 | 17.4% | 46.1% |
| 营业利润率 | 6.5% | 17.0% |
| 净利率 | 5.6% | 12.8% |
| 营收同比 | -4.8% | 4.6% |
| 净利润同比 | -52.1% | -3.0% |
| 每股收益（稀释后） | $2.42 | $1.96 |
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MHOWSM
| Q4 25 | $1.1B | $1.9B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $976.1M | $2.5B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.1B | $1.8B | ||
| Q2 24 | $1.1B | $1.7B | ||
| Q1 24 | $1.0B | $2.3B |
净利润MHOWSM
| Q4 25 | $64.0M | $241.6M | ||
| Q3 25 | $106.5M | $247.6M | ||
| Q2 25 | $121.2M | $231.3M | ||
| Q1 25 | $111.2M | $384.9M | ||
| Q4 24 | $133.5M | $249.0M | ||
| Q3 24 | $145.4M | $225.7M | ||
| Q2 24 | $146.7M | $265.7M | ||
| Q1 24 | $138.1M | $354.4M |
毛利率MHOWSM
| Q4 25 | 17.4% | 46.1% | ||
| Q3 25 | 24.5% | 47.1% | ||
| Q2 25 | 24.7% | 44.3% | ||
| Q1 25 | 25.9% | 45.2% | ||
| Q4 24 | 24.6% | 46.7% | ||
| Q3 24 | 27.1% | 46.2% | ||
| Q2 24 | 27.9% | 48.3% | ||
| Q1 24 | 27.1% | 46.0% |
营业利润率MHOWSM
| Q4 25 | 6.5% | 17.0% | ||
| Q3 25 | 12.0% | 17.9% | ||
| Q2 25 | 13.4% | 16.8% | ||
| Q1 25 | 14.4% | 20.1% | ||
| Q4 24 | 13.6% | 17.8% | ||
| Q3 24 | 15.9% | 16.2% | ||
| Q2 24 | 16.8% | 19.5% | ||
| Q1 24 | 16.6% | 20.1% |
净利率MHOWSM
| Q4 25 | 5.6% | 12.8% | ||
| Q3 25 | 9.4% | 13.5% | ||
| Q2 25 | 10.4% | 13.4% | ||
| Q1 25 | 11.4% | 15.6% | ||
| Q4 24 | 11.1% | 13.8% | ||
| Q3 24 | 12.7% | 12.6% | ||
| Q2 24 | 13.2% | 16.0% | ||
| Q1 24 | 13.2% | 15.6% |
每股收益（稀释后）MHOWSM
| Q4 25 | $2.42 | $1.96 | ||
| Q3 25 | $3.92 | $2.00 | ||
| Q2 25 | $4.42 | $1.85 | ||
| Q1 25 | $3.98 | $1.02 | ||
| Q4 24 | $4.71 | $1.96 | ||
| Q3 24 | $5.10 | $1.74 | ||
| Q2 24 | $5.12 | $4.07 | ||
| Q1 24 | $4.78 | $5.42 |
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 | — | $884.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.2B | $2.1B |
| 总资产 | $4.8B | $5.3B |
| 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MHOWSM
| Q4 25 | — | $884.7M | ||
| Q3 25 | — | $985.8M | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $826.8M | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.3B |
股东权益MHOWSM
| Q4 25 | $3.2B | $2.1B | ||
| Q3 25 | $3.1B | $2.1B | ||
| Q2 25 | $3.1B | $2.2B | ||
| Q1 25 | $3.0B | $2.1B | ||
| Q4 24 | $2.9B | $1.9B | ||
| Q3 24 | $2.8B | $2.3B | ||
| Q2 24 | $2.7B | $2.2B | ||
| Q1 24 | $2.6B | $2.1B |
总资产MHOWSM
| Q4 25 | $4.8B | $5.3B | ||
| Q3 25 | $4.8B | $5.2B | ||
| Q2 25 | $4.7B | $5.2B | ||
| Q1 25 | $4.6B | $5.3B | ||
| Q4 24 | $4.5B | $5.0B | ||
| Q3 24 | $4.5B | $5.2B | ||
| Q2 24 | $4.3B | $5.2B | ||
| Q1 24 | $4.2B | $5.3B |
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 | $316.3M |
| 自由现金流经营现金流 - 资本支出 | $-13.0M | $248.1M |
| 自由现金流率自由现金流/营收 | -1.1% | 13.2% |
| 资本支出强度资本支出/营收 | 0.4% | 3.6% |
| 现金转化率经营现金流/净利润 | -0.14× | 1.31× |
| 过去12个月自由现金流最近4个季度 | $127.7M | $1.1B |
8季度趋势，按日历期对齐
经营现金流MHOWSM
| Q4 25 | $-8.7M | $316.3M | ||
| Q3 25 | $43.4M | $282.7M | ||
| Q2 25 | $37.8M | $118.9M | ||
| Q1 25 | $64.9M | $633.5M | ||
| Q4 24 | $104.4M | $253.5M | ||
| Q3 24 | $-67.9M | $246.5M | ||
| Q2 24 | $27.5M | $226.8M | ||
| Q1 24 | $115.8M | $674.9M |
自由现金流MHOWSM
| Q4 25 | $-13.0M | $248.1M | ||
| Q3 25 | $42.0M | $230.7M | ||
| Q2 25 | $35.1M | $60.7M | ||
| Q1 25 | $63.5M | $566.3M | ||
| Q4 24 | $102.3M | $170.1M | ||
| Q3 24 | $-68.5M | $215.1M | ||
| Q2 24 | $22.0M | $187.3M | ||
| Q1 24 | $115.5M | $621.2M |
自由现金流率MHOWSM
| Q4 25 | -1.1% | 13.2% | ||
| Q3 25 | 3.7% | 12.6% | ||
| Q2 25 | 3.0% | 3.5% | ||
| Q1 25 | 6.5% | 23.0% | ||
| Q4 24 | 8.5% | 9.4% | ||
| Q3 24 | -6.0% | 12.0% | ||
| Q2 24 | 2.0% | 11.3% | ||
| Q1 24 | 11.0% | 27.3% |
资本支出强度MHOWSM
| Q4 25 | 0.4% | 3.6% | ||
| Q3 25 | 0.1% | 2.8% | ||
| Q2 25 | 0.2% | 3.4% | ||
| Q1 25 | 0.1% | 2.7% | ||
| Q4 24 | 0.2% | 4.6% | ||
| Q3 24 | 0.1% | 1.8% | ||
| Q2 24 | 0.5% | 2.4% | ||
| Q1 24 | 0.0% | 2.4% |
现金转化率MHOWSM
| Q4 25 | -0.14× | 1.31× | ||
| Q3 25 | 0.41× | 1.14× | ||
| Q2 25 | 0.31× | 0.51× | ||
| Q1 25 | 0.58× | 1.65× | ||
| Q4 24 | 0.78× | 1.02× | ||
| Q3 24 | -0.47× | 1.09× | ||
| Q2 24 | 0.19× | 0.85× | ||
| Q1 24 | 0.84× | 1.90× |
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% |
WSM
暂无分部数据
