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NVR, Inc.（NVR）与西部数据（WDC）财务数据对比。点击上方公司名可切换其他公司
西部数据的季度营收约是NVR, Inc.的1.1倍（$3.0B vs $2.7B），西部数据净利率更高（61.1% vs 13.4%，领先47.6%），西部数据同比增速更快（31.5% vs -4.7%），过去两年NVR, Inc.的营收复合增速更高（7.8% vs -6.6%）
NVR, Inc.是总部位于美国弗吉尼亚州雷斯顿的知名住宅建造企业，同时运营抵押贷款银行及产权服务相关业务。公司业务主要布局美国东海岸，覆盖14个州及华盛顿特区，2021年有22%的营收来自华盛顿大都会区。
西部数据（简称WD）是总部位于美国加利福尼亚州圣何塞的知名数据存储企业，成立于1970年，是全球最大的硬盘驱动器（HDD）制造商之一，产品覆盖消费级、企业级等多元存储场景，为全球客户提供高性能、高可靠性的存储解决方案。
NVR vs WDC — 直观对比
营收规模更大
WDC
是对方的1.1倍
$2.7B
营收增速更快
WDC
高出36.2%
-4.7%
净利率更高
WDC
高出47.6%
13.4%
两年增速更快
NVR
近两年复合增速
-6.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $3.0B |
| 净利润 | $363.8M | $1.8B |
| 毛利率 | — | 45.7% |
| 营业利润率 | — | 30.1% |
| 净利率 | 13.4% | 61.1% |
| 营收同比 | -4.7% | 31.5% |
| 净利润同比 | -20.5% | 254.2% |
| 每股收益（稀释后） | $120.85 | $4.73 |
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NVRWDC
| Q1 26 | — | $3.0B | ||
| Q4 25 | $2.7B | $2.8B | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | $-1.2B | ||
| Q1 25 | $2.4B | $2.3B | ||
| Q4 24 | $2.8B | $4.3B | ||
| Q3 24 | $2.7B | $4.1B | ||
| Q2 24 | $2.6B | $3.8B |
净利润NVRWDC
| Q1 26 | — | $1.8B | ||
| Q4 25 | $363.8M | $1.2B | ||
| Q3 25 | $342.7M | — | ||
| Q2 25 | $333.7M | $282.0M | ||
| Q1 25 | $299.6M | $520.0M | ||
| Q4 24 | $457.4M | $594.0M | ||
| Q3 24 | $429.3M | $493.0M | ||
| Q2 24 | $400.9M | $39.0M |
毛利率NVRWDC
| Q1 26 | — | 45.7% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 35.4% | ||
| Q3 24 | — | 37.9% | ||
| Q2 24 | — | 35.9% |
营业利润率NVRWDC
| Q1 26 | — | 30.1% | ||
| Q4 25 | — | 28.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 33.1% | ||
| Q4 24 | — | 19.9% | ||
| Q3 24 | — | 18.1% | ||
| Q2 24 | — | 5.7% |
净利率NVRWDC
| Q1 26 | — | 61.1% | ||
| Q4 25 | 13.4% | 41.9% | ||
| Q3 25 | 13.1% | — | ||
| Q2 25 | 12.8% | -24.4% | ||
| Q1 25 | 12.5% | 22.7% | ||
| Q4 24 | 16.1% | 13.9% | ||
| Q3 24 | 15.7% | 12.0% | ||
| Q2 24 | 15.3% | 1.0% |
每股收益（稀释后）NVRWDC
| Q1 26 | — | $4.73 | ||
| Q4 25 | $120.85 | $3.07 | ||
| Q3 25 | $112.33 | — | ||
| Q2 25 | $108.54 | $0.72 | ||
| Q1 25 | $94.83 | $1.42 | ||
| Q4 24 | $139.09 | $1.63 | ||
| Q3 24 | $130.50 | $1.35 | ||
| Q2 24 | $120.69 | $0.15 |
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 | — | $2.0B |
| 总债务越低越好 | — | $4.7B |
| 股东权益账面价值 | $3.9B | $7.1B |
| 总资产 | $5.9B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.65× |
8季度趋势，按日历期对齐
现金及短期投资NVRWDC
| Q1 26 | — | $2.0B | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.9B |
总债务NVRWDC
| Q1 26 | — | $4.7B | ||
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | — | $7.3B | ||
| Q4 24 | — | $7.4B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $7.4B |
股东权益NVRWDC
| Q1 26 | — | $7.1B | ||
| Q4 25 | $3.9B | $5.9B | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.8B | $5.3B | ||
| Q1 25 | $4.0B | $5.2B | ||
| Q4 24 | $4.2B | $12.1B | ||
| Q3 24 | $4.3B | $11.6B | ||
| Q2 24 | $4.1B | $10.8B |
总资产NVRWDC
| Q1 26 | — | $15.6B | ||
| Q4 25 | $5.9B | $14.4B | ||
| Q3 25 | $6.0B | — | ||
| Q2 25 | $5.9B | $14.0B | ||
| Q1 25 | $6.2B | $16.4B | ||
| Q4 24 | $6.4B | $25.5B | ||
| Q3 24 | $6.5B | $24.8B | ||
| Q2 24 | $6.4B | $24.2B |
负债/权益比NVRWDC
| Q1 26 | — | 0.65× | ||
| Q4 25 | — | 0.80× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.89× | ||
| Q1 25 | — | 1.42× | ||
| Q4 24 | — | 0.61× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.69× |
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 | $439.7M | — |
| 自由现金流经营现金流 - 资本支出 | $436.0M | — |
| 自由现金流率自由现金流/营收 | 16.1% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 现金转化率经营现金流/净利润 | 1.21× | — |
| 过去12个月自由现金流最近4个季度 | $1.1B | — |
8季度趋势，按日历期对齐
经营现金流NVRWDC
| Q1 26 | — | — | ||
| Q4 25 | $439.7M | $672.0M | ||
| Q3 25 | $438.7M | — | ||
| Q2 25 | $35.1M | $746.0M | ||
| Q1 25 | $207.8M | $508.0M | ||
| Q4 24 | $637.0M | $403.0M | ||
| Q3 24 | $358.3M | $34.0M | ||
| Q2 24 | $232.7M | $366.0M |
自由现金流NVRWDC
| Q1 26 | — | — | ||
| Q4 25 | $436.0M | $599.0M | ||
| Q3 25 | $433.3M | — | ||
| Q2 25 | $26.8M | $675.0M | ||
| Q1 25 | $200.7M | $379.0M | ||
| Q4 24 | $631.5M | $287.0M | ||
| Q3 24 | $350.1M | $-62.0M | ||
| Q2 24 | $226.3M | $250.0M |
自由现金流率NVRWDC
| Q1 26 | — | — | ||
| Q4 25 | 16.1% | 21.3% | ||
| Q3 25 | 16.6% | — | ||
| Q2 25 | 1.0% | -58.5% | ||
| Q1 25 | 8.4% | 16.5% | ||
| Q4 24 | 22.2% | 6.7% | ||
| Q3 24 | 12.8% | -1.5% | ||
| Q2 24 | 8.7% | 6.6% |
资本支出强度NVRWDC
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 2.6% | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | 0.3% | -6.2% | ||
| Q1 25 | 0.3% | 5.6% | ||
| Q4 24 | 0.2% | 2.7% | ||
| Q3 24 | 0.3% | 2.3% | ||
| Q2 24 | 0.2% | 3.1% |
现金转化率NVRWDC
| Q1 26 | — | — | ||
| Q4 25 | 1.21× | 0.57× | ||
| Q3 25 | 1.28× | — | ||
| Q2 25 | 0.11× | 2.65× | ||
| Q1 25 | 0.69× | 0.98× | ||
| Q4 24 | 1.39× | 0.68× | ||
| Q3 24 | 0.83× | 0.07× | ||
| Q2 24 | 0.58× | 9.38× |
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
NVR
| Home Building Segment | $2.6B | 97% |
| Mortgage Banking Segment | $77.4M | 3% |
WDC
| Cloud | $2.7B | 89% |
| Client Devices | $176.0M | 6% |
| Consumer | $168.0M | 6% |
