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NVR, Inc.（NVR）与施乐（XRX）财务数据对比。点击上方公司名可切换其他公司
NVR, Inc.的季度营收约是施乐的1.3倍（$2.7B vs $2.0B），施乐同比增速更快（25.7% vs -4.7%），NVR, Inc.自由现金流更多（$436.0M vs $192.0M），过去两年施乐的营收复合增速更高（16.2% vs 7.8%）
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。
施乐控股是源自美国的知名办公设备服务商，面向全球超160个国家提供打印机与数码文档相关产品及服务。1959年推出Xerox 914后，施乐成为静电复印市场的开创者，品牌名“xerox”甚至在英语中成为复印的代名词，公司总部现位于美国康涅狄格州诺沃克。
NVR vs XRX — 直观对比
营收规模更大
NVR
是对方的1.3倍
$2.0B
营收增速更快
XRX
高出30.4%
-4.7%
自由现金流更多
NVR
多$244.0M
$192.0M
两年增速更快
XRX
近两年复合增速
7.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $2.0B |
| 净利润 | $363.8M | — |
| 毛利率 | — | — |
| 营业利润率 | — | — |
| 净利率 | 13.4% | — |
| 营收同比 | -4.7% | 25.7% |
| 净利润同比 | -20.5% | — |
| 每股收益（稀释后） | $120.85 | $-0.62 |
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NVRXRX
| Q4 25 | $2.7B | $2.0B | ||
| Q3 25 | $2.6B | $2.0B | ||
| Q2 25 | $2.6B | $1.6B | ||
| Q1 25 | $2.4B | $1.5B | ||
| Q4 24 | $2.8B | $1.6B | ||
| Q3 24 | $2.7B | $1.5B | ||
| Q2 24 | $2.6B | $1.6B | ||
| Q1 24 | $2.3B | $1.5B |
净利润NVRXRX
| Q4 25 | $363.8M | — | ||
| Q3 25 | $342.7M | $-760.0M | ||
| Q2 25 | $333.7M | $-106.0M | ||
| Q1 25 | $299.6M | $-90.0M | ||
| Q4 24 | $457.4M | — | ||
| Q3 24 | $429.3M | $-1.2B | ||
| Q2 24 | $400.9M | $18.0M | ||
| Q1 24 | $394.3M | $-113.0M |
净利率NVRXRX
| Q4 25 | 13.4% | — | ||
| Q3 25 | 13.1% | -38.8% | ||
| Q2 25 | 12.8% | -6.7% | ||
| Q1 25 | 12.5% | -6.2% | ||
| Q4 24 | 16.1% | — | ||
| Q3 24 | 15.7% | -78.9% | ||
| Q2 24 | 15.3% | 1.1% | ||
| Q1 24 | 16.9% | -7.5% |
每股收益（稀释后）NVRXRX
| Q4 25 | $120.85 | $-0.62 | ||
| Q3 25 | $112.33 | $-6.01 | ||
| Q2 25 | $108.54 | $-0.87 | ||
| Q1 25 | $94.83 | $-0.75 | ||
| Q4 24 | $139.09 | $-0.21 | ||
| Q3 24 | $130.50 | $-9.71 | ||
| Q2 24 | $120.69 | $0.11 | ||
| Q1 24 | $116.41 | $-0.94 |
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 | — | $512.0M |
| 总债务越低越好 | — | $4.0B |
| 股东权益账面价值 | $3.9B | $444.0M |
| 总资产 | $5.9B | $9.8B |
| 负债/权益比越低杠杆越低 | — | 9.05× |
8季度趋势，按日历期对齐
现金及短期投资NVRXRX
| Q4 25 | — | $512.0M | ||
| Q3 25 | — | $479.0M | ||
| Q2 25 | — | $449.0M | ||
| Q1 25 | — | $336.0M | ||
| Q4 24 | — | $576.0M | ||
| Q3 24 | — | $521.0M | ||
| Q2 24 | — | $485.0M | ||
| Q1 24 | — | $685.0M |
总债务NVRXRX
| Q4 25 | — | $4.0B | ||
| Q3 25 | — | $4.1B | ||
| Q2 25 | — | $3.5B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $3.2B | ||
| Q1 24 | — | $3.2B |
股东权益NVRXRX
| Q4 25 | $3.9B | $444.0M | ||
| Q3 25 | $4.0B | $365.0M | ||
| Q2 25 | $3.8B | $1.1B | ||
| Q1 25 | $4.0B | $1.1B | ||
| Q4 24 | $4.2B | $1.1B | ||
| Q3 24 | $4.3B | $1.3B | ||
| Q2 24 | $4.1B | $2.4B | ||
| Q1 24 | $4.3B | $2.4B |
总资产NVRXRX
| Q4 25 | $5.9B | $9.8B | ||
| Q3 25 | $6.0B | $10.1B | ||
| Q2 25 | $5.9B | $8.9B | ||
| Q1 25 | $6.2B | $8.2B | ||
| Q4 24 | $6.4B | $8.4B | ||
| Q3 24 | $6.5B | $8.3B | ||
| Q2 24 | $6.4B | $9.5B | ||
| Q1 24 | $6.5B | $9.9B |
负债/权益比NVRXRX
| Q4 25 | — | 9.05× | ||
| Q3 25 | — | 11.10× | ||
| Q2 25 | — | 3.11× | ||
| Q1 25 | — | 2.56× | ||
| Q4 24 | — | 2.62× | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | — | 1.34× | ||
| Q1 24 | — | 1.35× |
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 | $208.0M |
| 自由现金流经营现金流 - 资本支出 | $436.0M | $192.0M |
| 自由现金流率自由现金流/营收 | 16.1% | 9.5% |
| 资本支出强度资本支出/营收 | 0.1% | 0.8% |
| 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 | $187.0M |
8季度趋势，按日历期对齐
经营现金流NVRXRX
| Q4 25 | $439.7M | $208.0M | ||
| Q3 25 | $438.7M | $116.0M | ||
| Q2 25 | $35.1M | $-11.0M | ||
| Q1 25 | $207.8M | $-89.0M | ||
| Q4 24 | $637.0M | $351.0M | ||
| Q3 24 | $358.3M | $116.0M | ||
| Q2 24 | $232.7M | $123.0M | ||
| Q1 24 | $146.5M | $-79.0M |
自由现金流NVRXRX
| Q4 25 | $436.0M | $192.0M | ||
| Q3 25 | $433.3M | $104.0M | ||
| Q2 25 | $26.8M | $-15.0M | ||
| Q1 25 | $200.7M | $-94.0M | ||
| Q4 24 | $631.5M | $346.0M | ||
| Q3 24 | $350.1M | $108.0M | ||
| Q2 24 | $226.3M | $117.0M | ||
| Q1 24 | $137.5M | $-87.0M |
自由现金流率NVRXRX
| Q4 25 | 16.1% | 9.5% | ||
| Q3 25 | 16.6% | 5.3% | ||
| Q2 25 | 1.0% | -1.0% | ||
| Q1 25 | 8.4% | -6.5% | ||
| Q4 24 | 22.2% | 21.5% | ||
| Q3 24 | 12.8% | 7.1% | ||
| Q2 24 | 8.7% | 7.4% | ||
| Q1 24 | 5.9% | -5.8% |
资本支出强度NVRXRX
| Q4 25 | 0.1% | 0.8% | ||
| Q3 25 | 0.2% | 0.6% | ||
| Q2 25 | 0.3% | 0.3% | ||
| Q1 25 | 0.3% | 0.3% | ||
| Q4 24 | 0.2% | 0.3% | ||
| Q3 24 | 0.3% | 0.5% | ||
| Q2 24 | 0.2% | 0.4% | ||
| Q1 24 | 0.4% | 0.5% |
现金转化率NVRXRX
| Q4 25 | 1.21× | — | ||
| Q3 25 | 1.28× | — | ||
| Q2 25 | 0.11× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 1.39× | — | ||
| Q3 24 | 0.83× | — | ||
| Q2 24 | 0.58× | 6.83× | ||
| Q1 24 | 0.37× | — |
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% |
XRX
| Other | $596.0M | 29% |
| Manufactured Product Other | $485.0M | 24% |
| Supplies Paper And Other Sales | $483.0M | 24% |
| IT Solutions Segment | $155.0M | 8% |
| CA | $128.0M | 6% |
| IT Products | $100.0M | 5% |
| Rental And Other | $52.0M | 3% |
| Financial Service | $29.0M | 1% |
