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Taylor Morrison Home Corp（TMHC）与Toll Brothers, Inc.（TOL）财务数据对比。点击上方公司名可切换其他公司
Toll Brothers, Inc.的季度营收约是Taylor Morrison Home Corp的2.5倍（$3.4B vs $1.4B）。Toll Brothers, Inc.净利率更高（13.0% vs 7.1%，领先5.9%）。Toll Brothers, Inc.同比增速更快（2.7% vs -26.8%）。过去两年Toll Brothers, Inc.的营收复合增速更高（32.6% vs -16.5%）
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。
Toll Brothers, Inc.是美国知名住宅建造企业，业务涵盖美国境内住宅及商业地产的开发、营销与融资服务。2020年按住宅建造营收统计，该公司为全美第五大房屋建造商，位列《财富》美国500强第411位。
TMHC vs TOL — 直观对比
营收规模更大
TOL
是对方的2.5倍
$1.4B
营收增速更快
TOL
高出29.5%
-26.8%
净利率更高
TOL
高出5.9%
7.1%
两年增速更快
TOL
近两年复合增速
-16.5%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $3.4B |
| 净利润 | $98.6M | $446.7M |
| 毛利率 | 21.0% | 24.8% |
| 营业利润率 | — | 16.5% |
| 净利率 | 7.1% | 13.0% |
| 营收同比 | -26.8% | 2.7% |
| 净利润同比 | -53.8% | -6.0% |
| 每股收益（稀释后） | $1.12 | $4.51 |
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TMHCTOL
| Q1 26 | $1.4B | — | ||
| Q4 25 | $2.1B | $3.4B | ||
| Q3 25 | $2.1B | $2.9B | ||
| Q2 25 | $2.0B | $2.7B | ||
| Q1 25 | $1.9B | $1.9B | ||
| Q4 24 | $2.4B | $3.3B | ||
| Q3 24 | $2.1B | $2.7B | ||
| Q2 24 | $2.0B | $2.8B |
净利润TMHCTOL
| Q1 26 | $98.6M | — | ||
| Q4 25 | $174.0M | $446.7M | ||
| Q3 25 | $201.4M | $369.6M | ||
| Q2 25 | $193.6M | $352.4M | ||
| Q1 25 | $213.5M | $177.7M | ||
| Q4 24 | $242.5M | $475.4M | ||
| Q3 24 | $251.1M | $374.6M | ||
| Q2 24 | $199.5M | $481.6M |
毛利率TMHCTOL
| Q1 26 | 21.0% | — | ||
| Q4 25 | 22.0% | 24.8% | ||
| Q3 25 | 22.7% | 25.2% | ||
| Q2 25 | 23.0% | 25.8% | ||
| Q1 25 | 24.4% | 24.7% | ||
| Q4 24 | 23.9% | 26.4% | ||
| Q3 24 | 25.0% | 27.2% | ||
| Q2 24 | 23.7% | 30.4% |
营业利润率TMHCTOL
| Q1 26 | — | — | ||
| Q4 25 | — | 16.5% | ||
| Q3 25 | — | 16.6% | ||
| Q2 25 | — | 16.4% | ||
| Q1 25 | — | 11.8% | ||
| Q4 24 | — | 18.3% | ||
| Q3 24 | — | 18.2% | ||
| Q2 24 | — | 22.0% |
净利率TMHCTOL
| Q1 26 | 7.1% | — | ||
| Q4 25 | 8.3% | 13.0% | ||
| Q3 25 | 9.6% | 12.6% | ||
| Q2 25 | 9.5% | 12.9% | ||
| Q1 25 | 11.3% | 9.6% | ||
| Q4 24 | 10.3% | 14.3% | ||
| Q3 24 | 11.8% | 13.7% | ||
| Q2 24 | 10.0% | 17.0% |
每股收益（稀释后）TMHCTOL
| Q1 26 | $1.12 | — | ||
| Q4 25 | $1.77 | $4.51 | ||
| Q3 25 | $2.01 | $3.73 | ||
| Q2 25 | $1.92 | $3.50 | ||
| Q1 25 | $2.07 | $1.75 | ||
| Q4 24 | $2.29 | $4.61 | ||
| Q3 24 | $2.37 | $3.60 | ||
| Q2 24 | $1.86 | $4.55 |
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 | $652.9M | $1.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.2B | $8.3B |
| 总资产 | $9.8B | $14.5B |
| 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TMHCTOL
| Q1 26 | $652.9M | — | ||
| Q4 25 | $850.0M | $1.3B | ||
| Q3 25 | $370.6M | $852.3M | ||
| Q2 25 | $130.2M | $686.5M | ||
| Q1 25 | $377.8M | $574.8M | ||
| Q4 24 | $487.2M | $1.3B | ||
| Q3 24 | $256.4M | $893.4M | ||
| Q2 24 | $246.8M | $1.0B |
总债务TMHCTOL
| 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TMHCTOL
| Q1 26 | $6.2B | — | ||
| Q4 25 | $6.3B | $8.3B | ||
| Q3 25 | $6.2B | $8.1B | ||
| Q2 25 | $6.1B | $7.9B | ||
| Q1 25 | $6.0B | $7.8B | ||
| Q4 24 | $5.9B | $7.7B | ||
| Q3 24 | $5.7B | $7.4B | ||
| Q2 24 | $5.5B | $7.3B |
总资产TMHCTOL
| Q1 26 | $9.8B | — | ||
| Q4 25 | $9.8B | $14.5B | ||
| Q3 25 | $9.6B | $14.4B | ||
| Q2 25 | $9.5B | $14.2B | ||
| Q1 25 | $9.4B | $13.6B | ||
| Q4 24 | $9.3B | $13.4B | ||
| Q3 24 | $9.3B | $13.4B | ||
| Q2 24 | $9.1B | $13.3B |
负债/权益比TMHCTOL
| 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 | — | $800.0M |
| 自由现金流经营现金流 - 资本支出 | — | $772.2M |
| 自由现金流率自由现金流/营收 | — | 22.6% |
| 资本支出强度资本支出/营收 | — | 0.8% |
| 现金转化率经营现金流/净利润 | — | 1.79× |
| 过去12个月自由现金流最近4个季度 | — | $1.0B |
8季度趋势，按日历期对齐
经营现金流TMHCTOL
| Q1 26 | — | — | ||
| Q4 25 | $646.4M | $800.0M | ||
| Q3 25 | $219.6M | $370.3M | ||
| Q2 25 | $-126.0M | $362.8M | ||
| Q1 25 | $77.2M | $-420.8M | ||
| Q4 24 | $438.2M | $682.5M | ||
| Q3 24 | $135.9M | $175.6M | ||
| Q2 24 | $-233.3M | $459.0M |
自由现金流TMHCTOL
| Q1 26 | — | — | ||
| Q4 25 | $635.3M | $772.2M | ||
| Q3 25 | $206.6M | $344.9M | ||
| Q2 25 | $-133.6M | $347.3M | ||
| Q1 25 | $68.7M | $-438.1M | ||
| Q4 24 | $428.2M | $664.3M | ||
| Q3 24 | $127.1M | $149.9M | ||
| Q2 24 | $-241.7M | $442.9M |
自由现金流率TMHCTOL
| Q1 26 | — | — | ||
| Q4 25 | 30.3% | 22.6% | ||
| Q3 25 | 9.9% | 11.7% | ||
| Q2 25 | -6.6% | 12.7% | ||
| Q1 25 | 3.6% | -23.6% | ||
| Q4 24 | 18.2% | 19.9% | ||
| Q3 24 | 6.0% | 5.5% | ||
| Q2 24 | -12.1% | 15.6% |
资本支出强度TMHCTOL
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 0.8% | ||
| Q3 25 | 0.6% | 0.9% | ||
| Q2 25 | 0.4% | 0.6% | ||
| Q1 25 | 0.4% | 0.9% | ||
| Q4 24 | 0.4% | 0.5% | ||
| Q3 24 | 0.4% | 0.9% | ||
| Q2 24 | 0.4% | 0.6% |
现金转化率TMHCTOL
| Q1 26 | — | — | ||
| Q4 25 | 3.71× | 1.79× | ||
| Q3 25 | 1.09× | 1.00× | ||
| Q2 25 | -0.65× | 1.03× | ||
| Q1 25 | 0.36× | -2.37× | ||
| Q4 24 | 1.81× | 1.44× | ||
| Q3 24 | 0.54× | 0.47× | ||
| Q2 24 | -1.17× | 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
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% |
TOL
| Home Building | $3.4B | 100% |
| Land | $9.4M | 0% |
