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NMI Holdings, Inc.（NMIH）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
NMI Holdings, Inc.的季度营收约是Rocket Lab Corp的1.0倍（$180.7M vs $179.7M），NMI Holdings, Inc.净利率更高（52.1% vs -29.5%，领先81.6%），Rocket Lab Corp同比增速更快（35.7% vs 8.5%），NMI Holdings, Inc.自由现金流更多（$412.5M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 7.5%）
NMI控股是美国头部私人抵押贷款保险服务商，主要为贷款机构提供抵押贷款担保保险产品，降低住房抵押贷款信用风险，服务美国本土住宅市场，助力符合资质的购房者获得购房便利，同时保护放贷机构免受违约损失。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
NMIH vs RKLB — 直观对比
营收规模更大
NMIH
是对方的1.0倍
$179.7M
营收增速更快
RKLB
高出27.2%
8.5%
净利率更高
NMIH
高出81.6%
-29.5%
自由现金流更多
NMIH
多$526.7M
$-114.2M
两年增速更快
RKLB
近两年复合增速
7.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $180.7M | $179.7M |
| 净利润 | $94.2M | $-52.9M |
| 毛利率 | — | 38.0% |
| 营业利润率 | 67.0% | -28.4% |
| 净利率 | 52.1% | -29.5% |
| 营收同比 | 8.5% | 35.7% |
| 净利润同比 | 9.3% | -1.1% |
| 每股收益（稀释后） | $1.21 | $-0.09 |
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NMIHRKLB
| Q4 25 | $180.7M | $179.7M | ||
| Q3 25 | $178.7M | $155.1M | ||
| Q2 25 | $173.8M | $144.5M | ||
| Q1 25 | $173.2M | $122.6M | ||
| Q4 24 | $166.5M | $132.4M | ||
| Q3 24 | $166.1M | $104.8M | ||
| Q2 24 | $162.1M | $106.3M | ||
| Q1 24 | $156.3M | $92.8M |
净利润NMIHRKLB
| Q4 25 | $94.2M | $-52.9M | ||
| Q3 25 | $96.0M | $-18.3M | ||
| Q2 25 | $96.2M | $-66.4M | ||
| Q1 25 | $102.6M | $-60.6M | ||
| Q4 24 | $86.2M | $-52.3M | ||
| Q3 24 | $92.8M | $-51.9M | ||
| Q2 24 | $92.1M | $-41.6M | ||
| Q1 24 | $89.0M | $-44.3M |
毛利率NMIHRKLB
| Q4 25 | — | 38.0% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 32.1% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | 27.8% | ||
| Q3 24 | — | 26.7% | ||
| Q2 24 | — | 25.6% | ||
| Q1 24 | — | 26.1% |
营业利润率NMIHRKLB
| Q4 25 | 67.0% | -28.4% | ||
| Q3 25 | 69.2% | -38.0% | ||
| Q2 25 | 71.1% | -41.3% | ||
| Q1 25 | 75.8% | -48.3% | ||
| Q4 24 | 66.6% | -38.9% | ||
| Q3 24 | 71.8% | -49.5% | ||
| Q2 24 | 73.2% | -40.7% | ||
| Q1 24 | 73.3% | -46.4% |
净利率NMIHRKLB
| Q4 25 | 52.1% | -29.5% | ||
| Q3 25 | 53.7% | -11.8% | ||
| Q2 25 | 55.3% | -46.0% | ||
| Q1 25 | 59.2% | -49.5% | ||
| Q4 24 | 51.8% | -39.5% | ||
| Q3 24 | 55.9% | -49.6% | ||
| Q2 24 | 56.8% | -39.2% | ||
| Q1 24 | 57.0% | -47.7% |
每股收益（稀释后）NMIHRKLB
| Q4 25 | $1.21 | $-0.09 | ||
| Q3 25 | $1.22 | $-0.03 | ||
| Q2 25 | $1.21 | $-0.13 | ||
| Q1 25 | $1.28 | $-0.12 | ||
| Q4 24 | $1.07 | $-0.11 | ||
| Q3 24 | $1.15 | $-0.10 | ||
| Q2 24 | $1.13 | $-0.08 | ||
| Q1 24 | $1.08 | $-0.09 |
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 | — | $1.0B |
| 总债务越低越好 | — | $152.4M |
| 股东权益账面价值 | $2.6B | $1.7B |
| 总资产 | $3.8B | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资NMIHRKLB
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $976.7M | ||
| Q2 25 | — | $688.1M | ||
| Q1 25 | — | $428.4M | ||
| Q4 24 | — | $419.0M | ||
| Q3 24 | — | $442.4M | ||
| Q2 24 | — | $496.8M | ||
| Q1 24 | — | $492.5M |
总债务NMIHRKLB
| Q4 25 | — | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $345.9M | ||
| Q4 24 | — | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M | ||
| Q1 24 | — | $66.8M |
股东权益NMIHRKLB
| Q4 25 | $2.6B | $1.7B | ||
| Q3 25 | $2.5B | $1.3B | ||
| Q2 25 | $2.4B | $688.5M | ||
| Q1 25 | $2.3B | $431.3M | ||
| Q4 24 | $2.2B | $382.5M | ||
| Q3 24 | $2.2B | $419.8M | ||
| Q2 24 | $2.0B | $455.2M | ||
| Q1 24 | $2.0B | $478.9M |
总资产NMIHRKLB
| Q4 25 | $3.8B | $2.3B | ||
| Q3 25 | $3.7B | $2.2B | ||
| Q2 25 | $3.6B | $1.6B | ||
| Q1 25 | $3.5B | $1.3B | ||
| Q4 24 | $3.3B | $1.2B | ||
| Q3 24 | $3.3B | $1.2B | ||
| Q2 24 | $3.1B | $1.2B | ||
| Q1 24 | $3.0B | $1.2B |
负债/权益比NMIHRKLB
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $419.3M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $412.5M | $-114.2M |
| 自由现金流率自由现金流/营收 | 228.2% | -63.6% |
| 资本支出强度资本支出/营收 | 3.8% | 27.6% |
| 现金转化率经营现金流/净利润 | 4.45× | — |
| 过去12个月自由现金流最近4个季度 | $764.9M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流NMIHRKLB
| Q4 25 | $419.3M | $-64.5M | ||
| Q3 25 | $128.0M | $-23.5M | ||
| Q2 25 | $128.4M | $-23.2M | ||
| Q1 25 | $101.2M | $-54.2M | ||
| Q4 24 | $393.6M | $-2.4M | ||
| Q3 24 | $128.4M | $-30.9M | ||
| Q2 24 | $117.8M | $-13.0M | ||
| Q1 24 | $111.6M | $-2.6M |
自由现金流NMIHRKLB
| Q4 25 | $412.5M | $-114.2M | ||
| Q3 25 | $126.3M | $-69.4M | ||
| Q2 25 | $126.7M | $-55.3M | ||
| Q1 25 | $99.4M | $-82.9M | ||
| Q4 24 | $386.7M | $-23.9M | ||
| Q3 24 | $126.9M | $-41.9M | ||
| Q2 24 | $115.9M | $-28.3M | ||
| Q1 24 | $109.4M | $-21.8M |
自由现金流率NMIHRKLB
| Q4 25 | 228.2% | -63.6% | ||
| Q3 25 | 70.7% | -44.8% | ||
| Q2 25 | 72.9% | -38.3% | ||
| Q1 25 | 57.4% | -67.6% | ||
| Q4 24 | 232.2% | -18.1% | ||
| Q3 24 | 76.4% | -40.0% | ||
| Q2 24 | 71.5% | -26.7% | ||
| Q1 24 | 70.0% | -23.5% |
资本支出强度NMIHRKLB
| Q4 25 | 3.8% | 27.6% | ||
| Q3 25 | 1.0% | 29.6% | ||
| Q2 25 | 0.9% | 22.2% | ||
| Q1 25 | 1.0% | 23.4% | ||
| Q4 24 | 4.1% | 16.3% | ||
| Q3 24 | 0.9% | 10.5% | ||
| Q2 24 | 1.1% | 14.4% | ||
| Q1 24 | 1.4% | 20.7% |
现金转化率NMIHRKLB
| Q4 25 | 4.45× | — | ||
| Q3 25 | 1.33× | — | ||
| Q2 25 | 1.33× | — | ||
| Q1 25 | 0.99× | — | ||
| Q4 24 | 4.57× | — | ||
| Q3 24 | 1.38× | — | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 1.25× | — |
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
NMIH
暂无分部数据
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
