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RH（RH）与Tyler Technologies（TYL）财务数据对比。点击上方公司名可切换其他公司
RH的季度营收约是Tyler Technologies的1.4倍（$883.8M vs $613.5M），Tyler Technologies净利率更高（13.2% vs 4.1%，领先9.1%），RH同比增速更快（8.9% vs 8.6%），RH自由现金流更多（$83.0M vs $2.0M），过去两年RH的营收复合增速更高（9.4% vs 6.5%）
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
RH vs TYL — 直观对比
营收规模更大
RH
是对方的1.4倍
$613.5M
营收增速更快
RH
高出0.3%
8.6%
净利率更高
TYL
高出9.1%
4.1%
自由现金流更多
RH
多$81.0M
$2.0M
两年增速更快
RH
近两年复合增速
6.5%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $883.8M | $613.5M |
| 净利润 | $36.3M | $81.2M |
| 毛利率 | 44.1% | 48.3% |
| 营业利润率 | 12.0% | 16.3% |
| 净利率 | 4.1% | 13.2% |
| 营收同比 | 8.9% | 8.6% |
| 净利润同比 | 9.3% | — |
| 每股收益（稀释后） | $1.83 | $1.88 |
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RHTYL
| Q1 26 | — | $613.5M | ||
| Q4 25 | $883.8M | $575.2M | ||
| Q3 25 | $899.2M | $595.9M | ||
| Q2 25 | $814.0M | $596.1M | ||
| Q1 25 | $812.4M | $565.2M | ||
| Q4 24 | $811.7M | $541.1M | ||
| Q3 24 | $829.7M | $543.3M | ||
| Q2 24 | $727.0M | $541.0M |
净利润RHTYL
| Q1 26 | — | $81.2M | ||
| Q4 25 | $36.3M | $65.5M | ||
| Q3 25 | $51.7M | $84.4M | ||
| Q2 25 | $8.0M | $84.6M | ||
| Q1 25 | $13.9M | $81.1M | ||
| Q4 24 | $33.2M | $65.2M | ||
| Q3 24 | $29.0M | $75.9M | ||
| Q2 24 | $-3.6M | $67.7M |
毛利率RHTYL
| Q1 26 | — | 48.3% | ||
| Q4 25 | 44.1% | 45.5% | ||
| Q3 25 | 45.5% | 47.2% | ||
| Q2 25 | 43.7% | 45.8% | ||
| Q1 25 | 44.7% | 47.3% | ||
| Q4 24 | 44.5% | 43.8% | ||
| Q3 24 | 45.2% | 43.7% | ||
| Q2 24 | 43.5% | 44.0% |
营业利润率RHTYL
| Q1 26 | — | 16.3% | ||
| Q4 25 | 12.0% | 13.0% | ||
| Q3 25 | 14.3% | 16.4% | ||
| Q2 25 | 6.9% | 16.0% | ||
| Q1 25 | 8.7% | 15.8% | ||
| Q4 24 | 12.5% | 13.2% | ||
| Q3 24 | 11.6% | 15.2% | ||
| Q2 24 | 7.5% | 14.4% |
净利率RHTYL
| Q1 26 | — | 13.2% | ||
| Q4 25 | 4.1% | 11.4% | ||
| Q3 25 | 5.8% | 14.2% | ||
| Q2 25 | 1.0% | 14.2% | ||
| Q1 25 | 1.7% | 14.3% | ||
| Q4 24 | 4.1% | 12.1% | ||
| Q3 24 | 3.5% | 14.0% | ||
| Q2 24 | -0.5% | 12.5% |
每股收益（稀释后）RHTYL
| Q1 26 | — | $1.88 | ||
| Q4 25 | $1.83 | $1.50 | ||
| Q3 25 | $2.62 | $1.93 | ||
| Q2 25 | $0.40 | $1.93 | ||
| Q1 25 | $0.71 | $1.84 | ||
| Q4 24 | $1.66 | $1.48 | ||
| Q3 24 | $1.45 | $1.74 | ||
| Q2 24 | $-0.20 | $1.57 |
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 | $43.1M | $346.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.3M | $3.6B |
| 总资产 | $4.8B | $4.8B |
| 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RHTYL
| Q1 26 | — | $346.4M | ||
| Q4 25 | $43.1M | $1.1B | ||
| Q3 25 | $34.6M | $950.8M | ||
| Q2 25 | $46.1M | $892.3M | ||
| Q1 25 | $30.4M | $807.4M | ||
| Q4 24 | $87.0M | $768.0M | ||
| Q3 24 | $78.3M | $544.3M | ||
| Q2 24 | $101.8M | $258.0M |
总债务RHTYL
| Q1 26 | — | — | ||
| Q4 25 | — | $599.7M | ||
| Q3 25 | — | $599.2M | ||
| Q2 25 | — | $598.8M | ||
| Q1 25 | — | $598.4M | ||
| Q4 24 | — | $597.9M | ||
| Q3 24 | — | $597.5M | ||
| Q2 24 | — | $597.1M |
股东权益RHTYL
| Q1 26 | — | $3.6B | ||
| Q4 25 | $3.3M | $3.7B | ||
| Q3 25 | $-40.9M | $3.6B | ||
| Q2 25 | $-110.8M | $3.6B | ||
| Q1 25 | $-163.6M | $3.5B | ||
| Q4 24 | $-183.0M | $3.4B | ||
| Q3 24 | $-234.7M | $3.3B | ||
| Q2 24 | $-289.9M | $3.1B |
总资产RHTYL
| Q1 26 | — | $4.8B | ||
| Q4 25 | $4.8B | $5.6B | ||
| Q3 25 | $4.7B | $5.5B | ||
| Q2 25 | $4.7B | $5.4B | ||
| Q1 25 | $4.6B | $5.2B | ||
| Q4 24 | $4.5B | $5.2B | ||
| Q3 24 | $4.4B | $5.0B | ||
| Q2 24 | $4.2B | $4.8B |
负债/权益比RHTYL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 0.16× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.19× |
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 | $131.9M | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $83.0M | $2.0M |
| 自由现金流率自由现金流/营收 | 9.4% | 0.3% |
| 资本支出强度资本支出/营收 | 5.5% | — |
| 现金转化率经营现金流/净利润 | 3.64× | 1.32× |
| 过去12个月自由现金流最近4个季度 | $128.1M | $585.7M |
8季度趋势，按日历期对齐
经营现金流RHTYL
| Q1 26 | — | $107.3M | ||
| Q4 25 | $131.9M | $243.9M | ||
| Q3 25 | $137.7M | $255.2M | ||
| Q2 25 | $86.6M | $98.3M | ||
| Q1 25 | $-18.8M | $56.2M | ||
| Q4 24 | $-31.4M | $224.8M | ||
| Q3 24 | $11.2M | $263.7M | ||
| Q2 24 | $56.1M | $64.3M |
自由现金流RHTYL
| Q1 26 | — | $2.0M | ||
| Q4 25 | $83.0M | $239.6M | ||
| Q3 25 | $80.7M | $251.3M | ||
| Q2 25 | $34.1M | $92.8M | ||
| Q1 25 | $-69.7M | $53.8M | ||
| Q4 24 | $-96.0M | $221.0M | ||
| Q3 24 | $-37.9M | $260.8M | ||
| Q2 24 | $-10.1M | $57.7M |
自由现金流率RHTYL
| Q1 26 | — | 0.3% | ||
| Q4 25 | 9.4% | 41.7% | ||
| Q3 25 | 9.0% | 42.2% | ||
| Q2 25 | 4.2% | 15.6% | ||
| Q1 25 | -8.6% | 9.5% | ||
| Q4 24 | -11.8% | 40.8% | ||
| Q3 24 | -4.6% | 48.0% | ||
| Q2 24 | -1.4% | 10.7% |
资本支出强度RHTYL
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | 0.8% | ||
| Q3 25 | 6.3% | 0.7% | ||
| Q2 25 | 6.5% | 0.9% | ||
| Q1 25 | 6.3% | 0.4% | ||
| Q4 24 | 8.0% | 0.7% | ||
| Q3 24 | 5.9% | 0.5% | ||
| Q2 24 | 9.1% | 1.2% |
现金转化率RHTYL
| Q1 26 | — | 1.32× | ||
| Q4 25 | 3.64× | 3.72× | ||
| Q3 25 | 2.66× | 3.02× | ||
| Q2 25 | 10.78× | 1.16× | ||
| Q1 25 | -1.35× | 0.69× | ||
| Q4 24 | -0.95× | 3.45× | ||
| Q3 24 | 0.39× | 3.47× | ||
| Q2 24 | — | 0.95× |
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
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
TYL
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
