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泰瑞达（TER）与Taylor Morrison Home Corp（TMHC）财务数据对比。点击上方公司名可切换其他公司
Taylor Morrison Home Corp的季度营收约是泰瑞达的1.3倍（$1.4B vs $1.1B），泰瑞达净利率更高（23.7% vs 7.1%，领先16.6%），泰瑞达同比增速更快（43.9% vs -26.8%），过去两年泰瑞达的营收复合增速更高（34.4% vs -16.5%）
泰瑞达是总部位于美国马萨诸塞州北雷丁的自动测试设备（ATE）设计及制造企业，在全球半导体测试领域拥有深厚技术积累，服务的知名客户涵盖三星、高通、英特尔、亚德诺、德州仪器、IBM等行业头部企业。
泰勒莫里森住房公司是美国规模最大的住宅建筑商之一，总部位于亚利桑那州斯科茨代尔，2007年7月由泰勒伍德罗与莫里森住房合并成立。公司业务覆盖亚利桑那、加利福尼亚、得克萨斯等十余个州，产品涵盖首次置业、中端及中高端住宅，可满足不同层级客户的住房需求。
TER vs TMHC — 直观对比
营收规模更大
TMHC
是对方的1.3倍
$1.1B
营收增速更快
TER
高出70.7%
-26.8%
净利率更高
TER
高出16.6%
7.1%
两年增速更快
TER
近两年复合增速
-16.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.4B |
| 净利润 | $257.2M | $98.6M |
| 毛利率 | 57.2% | 21.0% |
| 营业利润率 | 27.1% | — |
| 净利率 | 23.7% | 7.1% |
| 营收同比 | 43.9% | -26.8% |
| 净利润同比 | 75.9% | -53.8% |
| 每股收益（稀释后） | $1.62 | $1.12 |
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TERTMHC
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.1B | $2.1B | ||
| Q3 25 | $769.2M | $2.1B | ||
| Q2 25 | $651.8M | $2.0B | ||
| Q1 25 | $685.7M | $1.9B | ||
| Q4 24 | $752.9M | $2.4B | ||
| Q3 24 | $737.3M | $2.1B | ||
| Q2 24 | $729.9M | $2.0B |
净利润TERTMHC
| Q1 26 | — | $98.6M | ||
| Q4 25 | $257.2M | $174.0M | ||
| Q3 25 | $119.6M | $201.4M | ||
| Q2 25 | $78.4M | $193.6M | ||
| Q1 25 | $98.9M | $213.5M | ||
| Q4 24 | $146.3M | $242.5M | ||
| Q3 24 | $145.6M | $251.1M | ||
| Q2 24 | $186.3M | $199.5M |
毛利率TERTMHC
| Q1 26 | — | 21.0% | ||
| Q4 25 | 57.2% | 22.0% | ||
| Q3 25 | 58.4% | 22.7% | ||
| Q2 25 | 57.2% | 23.0% | ||
| Q1 25 | 60.6% | 24.4% | ||
| Q4 24 | 59.4% | 23.9% | ||
| Q3 24 | 59.2% | 25.0% | ||
| Q2 24 | 58.3% | 23.7% |
营业利润率TERTMHC
| Q1 26 | — | — | ||
| Q4 25 | 27.1% | — | ||
| Q3 25 | 18.9% | — | ||
| Q2 25 | 13.9% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 20.4% | — | ||
| Q3 24 | 20.6% | — | ||
| Q2 24 | 28.8% | — |
净利率TERTMHC
| Q1 26 | — | 7.1% | ||
| Q4 25 | 23.7% | 8.3% | ||
| Q3 25 | 15.5% | 9.6% | ||
| Q2 25 | 12.0% | 9.5% | ||
| Q1 25 | 14.4% | 11.3% | ||
| Q4 24 | 19.4% | 10.3% | ||
| Q3 24 | 19.8% | 11.8% | ||
| Q2 24 | 25.5% | 10.0% |
每股收益（稀释后）TERTMHC
| Q1 26 | — | $1.12 | ||
| Q4 25 | $1.62 | $1.77 | ||
| Q3 25 | $0.75 | $2.01 | ||
| Q2 25 | $0.49 | $1.92 | ||
| Q1 25 | $0.61 | $2.07 | ||
| Q4 24 | $0.89 | $2.29 | ||
| Q3 24 | $0.89 | $2.37 | ||
| Q2 24 | $1.14 | $1.86 |
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 | $293.8M | $652.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.8B | $6.2B |
| 总资产 | $4.2B | $9.8B |
| 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TERTMHC
| Q1 26 | — | $652.9M | ||
| Q4 25 | $293.8M | $850.0M | ||
| Q3 25 | $272.7M | $370.6M | ||
| Q2 25 | $339.3M | $130.2M | ||
| Q1 25 | $475.6M | $377.8M | ||
| Q4 24 | $553.4M | $487.2M | ||
| Q3 24 | $510.0M | $256.4M | ||
| Q2 24 | $421.9M | $246.8M |
总债务TERTMHC
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.2B |
股东权益TERTMHC
| Q1 26 | — | $6.2B | ||
| Q4 25 | $2.8B | $6.3B | ||
| Q3 25 | $2.7B | $6.2B | ||
| Q2 25 | $2.8B | $6.1B | ||
| Q1 25 | $2.8B | $6.0B | ||
| Q4 24 | $2.8B | $5.9B | ||
| Q3 24 | $2.9B | $5.7B | ||
| Q2 24 | $2.7B | $5.5B |
总资产TERTMHC
| Q1 26 | — | $9.8B | ||
| Q4 25 | $4.2B | $9.8B | ||
| Q3 25 | $4.0B | $9.6B | ||
| Q2 25 | $3.8B | $9.5B | ||
| Q1 25 | $3.7B | $9.4B | ||
| Q4 24 | $3.7B | $9.3B | ||
| Q3 24 | $3.8B | $9.3B | ||
| Q2 24 | $3.6B | $9.1B |
负债/权益比TERTMHC
| Q1 26 | — | — | ||
| Q4 25 | — | 0.36× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.39× |
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 | $281.6M | — |
| 自由现金流经营现金流 - 资本支出 | $218.8M | — |
| 自由现金流率自由现金流/营收 | 20.2% | — |
| 资本支出强度资本支出/营收 | 5.8% | — |
| 现金转化率经营现金流/净利润 | 1.09× | — |
| 过去12个月自由现金流最近4个季度 | $450.4M | — |
8季度趋势，按日历期对齐
经营现金流TERTMHC
| Q1 26 | — | — | ||
| Q4 25 | $281.6M | $646.4M | ||
| Q3 25 | $49.0M | $219.6M | ||
| Q2 25 | $182.1M | $-126.0M | ||
| Q1 25 | $161.6M | $77.2M | ||
| Q4 24 | $282.6M | $438.2M | ||
| Q3 24 | $166.3M | $135.9M | ||
| Q2 24 | $216.1M | $-233.3M |
自由现金流TERTMHC
| Q1 26 | — | — | ||
| Q4 25 | $218.8M | $635.3M | ||
| Q3 25 | $2.4M | $206.6M | ||
| Q2 25 | $131.7M | $-133.6M | ||
| Q1 25 | $97.6M | $68.7M | ||
| Q4 24 | $225.2M | $428.2M | ||
| Q3 24 | $114.4M | $127.1M | ||
| Q2 24 | $171.2M | $-241.7M |
自由现金流率TERTMHC
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | 30.3% | ||
| Q3 25 | 0.3% | 9.9% | ||
| Q2 25 | 20.2% | -6.6% | ||
| Q1 25 | 14.2% | 3.6% | ||
| Q4 24 | 29.9% | 18.2% | ||
| Q3 24 | 15.5% | 6.0% | ||
| Q2 24 | 23.5% | -12.1% |
资本支出强度TERTMHC
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 0.5% | ||
| Q3 25 | 6.1% | 0.6% | ||
| Q2 25 | 7.7% | 0.4% | ||
| Q1 25 | 9.3% | 0.4% | ||
| Q4 24 | 7.6% | 0.4% | ||
| Q3 24 | 7.0% | 0.4% | ||
| Q2 24 | 6.1% | 0.4% |
现金转化率TERTMHC
| Q1 26 | — | — | ||
| Q4 25 | 1.09× | 3.71× | ||
| Q3 25 | 0.41× | 1.09× | ||
| Q2 25 | 2.32× | -0.65× | ||
| Q1 25 | 1.63× | 0.36× | ||
| Q4 24 | 1.93× | 1.81× | ||
| Q3 24 | 1.14× | 0.54× | ||
| Q2 24 | 1.16× | -1.17× |
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
TER
| Soc | $646.5M | 60% |
| Memory | $206.5M | 19% |
| Transferred At Point In Time | $90.0M | 8% |
| Universal Robots | $89.4M | 8% |
| IST | $30.5M | 3% |
| Transferred Over Time | $20.5M | 2% |
TMHC
| Home closings revenue, net | $1.3B | 95% |
| Financial services revenue, net | $49.3M | 4% |
| Land closings revenue | $14.5M | 1% |
| Amenity and other revenue | $11.9M | 1% |
