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Toll Brothers, Inc.（TOL）与Tri Pointe Homes, Inc.（TPH）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Tri Pointe Homes, Inc.的3.5倍（$3.4B vs $972.6M）。Toll Brothers, Inc.净利率更高（13.0% vs 6.2%，领先6.9%）。Toll Brothers, Inc.同比增速更快（2.7% vs -22.4%）。Toll Brothers, Inc.自由现金流更多（$772.2M vs $213.2M）。过去两年Toll Brothers, Inc.的营收复合增速更高（32.6% vs 1.8%）
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。
Tri Pointe Homes, Inc.是总部位于美国内华达州inclinet村的住宅建筑企业，为购房者提供融资及保险服务，业务覆盖亚利桑那、加利福尼亚、内华达、华盛顿、科罗拉多、得克萨斯、哥伦比亚特区、马里兰、北卡罗来纳、南卡罗来纳、弗吉尼亚等地区，按房屋交付量计算是美国第18大住宅建筑商。
TOL vs TPH — 直观对比
营收规模更大
TOL
是对方的3.5倍
$972.6M
营收增速更快
TOL
高出25.1%
-22.4%
净利率更高
TOL
高出6.9%
6.2%
自由现金流更多
TOL
多$559.0M
$213.2M
两年增速更快
TOL
近两年复合增速
1.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $972.6M |
| 净利润 | $446.7M | $60.2M |
| 毛利率 | 24.8% | — |
| 营业利润率 | 16.5% | 8.1% |
| 净利率 | 13.0% | 6.2% |
| 营收同比 | 2.7% | -22.4% |
| 净利润同比 | -6.0% | -53.4% |
| 每股收益（稀释后） | $4.51 | $0.70 |
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TOLTPH
| Q4 25 | $3.4B | $972.6M | ||
| Q3 25 | $2.9B | $854.7M | ||
| Q2 25 | $2.7B | $902.4M | ||
| Q1 25 | $1.9B | $740.9M | ||
| Q4 24 | $3.3B | $1.3B | ||
| Q3 24 | $2.7B | $1.1B | ||
| Q2 24 | $2.8B | $1.2B | ||
| Q1 24 | $1.9B | $939.4M |
净利润TOLTPH
| Q4 25 | $446.7M | $60.2M | ||
| Q3 25 | $369.6M | $56.1M | ||
| Q2 25 | $352.4M | $60.7M | ||
| Q1 25 | $177.7M | $64.0M | ||
| Q4 24 | $475.4M | $129.2M | ||
| Q3 24 | $374.6M | $111.8M | ||
| Q2 24 | $481.6M | $118.0M | ||
| Q1 24 | $239.6M | $99.1M |
毛利率TOLTPH
| Q4 25 | 24.8% | — | ||
| Q3 25 | 25.2% | — | ||
| Q2 25 | 25.8% | — | ||
| Q1 25 | 24.7% | — | ||
| Q4 24 | 26.4% | — | ||
| Q3 24 | 27.2% | — | ||
| Q2 24 | 30.4% | — | ||
| Q1 24 | 27.6% | — |
营业利润率TOLTPH
| Q4 25 | 16.5% | 8.1% | ||
| Q3 25 | 16.6% | 8.1% | ||
| Q2 25 | 16.4% | 8.5% | ||
| Q1 25 | 11.8% | 10.4% | ||
| Q4 24 | 18.3% | 13.4% | ||
| Q3 24 | 18.2% | 12.6% | ||
| Q2 24 | 22.0% | 12.9% | ||
| Q1 24 | 15.8% | 12.3% |
净利率TOLTPH
| Q4 25 | 13.0% | 6.2% | ||
| Q3 25 | 12.6% | 6.6% | ||
| Q2 25 | 12.9% | 6.7% | ||
| Q1 25 | 9.6% | 8.6% | ||
| Q4 24 | 14.3% | 10.3% | ||
| Q3 24 | 13.7% | 9.8% | ||
| Q2 24 | 17.0% | 10.2% | ||
| Q1 24 | 12.3% | 10.5% |
每股收益（稀释后）TOLTPH
| Q4 25 | $4.51 | $0.70 | ||
| Q3 25 | $3.73 | $0.64 | ||
| Q2 25 | $3.50 | $0.68 | ||
| Q1 25 | $1.75 | $0.70 | ||
| Q4 24 | $4.61 | $1.37 | ||
| Q3 24 | $3.60 | $1.18 | ||
| Q2 24 | $4.55 | $1.25 | ||
| Q1 24 | $2.25 | $1.03 |
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 | $1.3B | $982.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.3B | $3.3B |
| 总资产 | $14.5B | $5.0B |
| 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TOLTPH
| Q4 25 | $1.3B | $982.8M | ||
| Q3 25 | $852.3M | $792.0M | ||
| Q2 25 | $686.5M | $622.6M | ||
| Q1 25 | $574.8M | $812.9M | ||
| Q4 24 | $1.3B | $970.0M | ||
| Q3 24 | $893.4M | $676.0M | ||
| Q2 24 | $1.0B | $492.9M | ||
| Q1 24 | $754.8M | $944.0M |
总债务TOLTPH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $646.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益TOLTPH
| Q4 25 | $8.3B | $3.3B | ||
| Q3 25 | $8.1B | $3.3B | ||
| Q2 25 | $7.9B | $3.3B | ||
| Q1 25 | $7.8B | $3.3B | ||
| Q4 24 | $7.7B | $3.3B | ||
| Q3 24 | $7.4B | $3.2B | ||
| Q2 24 | $7.3B | $3.1B | ||
| Q1 24 | $7.0B | $3.0B |
总资产TOLTPH
| Q4 25 | $14.5B | $5.0B | ||
| Q3 25 | $14.4B | $5.0B | ||
| Q2 25 | $14.2B | $4.8B | ||
| Q1 25 | $13.6B | $4.8B | ||
| Q4 24 | $13.4B | $4.9B | ||
| Q3 24 | $13.4B | $4.8B | ||
| Q2 24 | $13.3B | $4.6B | ||
| Q1 24 | $12.5B | $5.0B |
负债/权益比TOLTPH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $221.0M |
| 自由现金流经营现金流 - 资本支出 | $772.2M | $213.2M |
| 自由现金流率自由现金流/营收 | 22.6% | 21.9% |
| 资本支出强度资本支出/营收 | 0.8% | 0.8% |
| 现金转化率经营现金流/净利润 | 1.79× | 3.67× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $128.5M |
8季度趋势，按日历期对齐
经营现金流TOLTPH
| Q4 25 | $800.0M | $221.0M | ||
| Q3 25 | $370.3M | $45.9M | ||
| Q2 25 | $362.8M | $-74.3M | ||
| Q1 25 | $-420.8M | $-31.2M | ||
| Q4 24 | $682.5M | $360.3M | ||
| Q3 24 | $175.6M | $167.9M | ||
| Q2 24 | $459.0M | $23.1M | ||
| Q1 24 | $-307.0M | $144.7M |
自由现金流TOLTPH
| Q4 25 | $772.2M | $213.2M | ||
| Q3 25 | $344.9M | $39.1M | ||
| Q2 25 | $347.3M | $-84.5M | ||
| Q1 25 | $-438.1M | $-39.3M | ||
| Q4 24 | $664.3M | $355.9M | ||
| Q3 24 | $149.9M | $161.5M | ||
| Q2 24 | $442.9M | $17.0M | ||
| Q1 24 | $-320.6M | $138.3M |
自由现金流率TOLTPH
| Q4 25 | 22.6% | 21.9% | ||
| Q3 25 | 11.7% | 4.6% | ||
| Q2 25 | 12.7% | -9.4% | ||
| Q1 25 | -23.6% | -5.3% | ||
| Q4 24 | 19.9% | 28.4% | ||
| Q3 24 | 5.5% | 14.1% | ||
| Q2 24 | 15.6% | 1.5% | ||
| Q1 24 | -16.5% | 14.7% |
资本支出强度TOLTPH
| Q4 25 | 0.8% | 0.8% | ||
| Q3 25 | 0.9% | 0.8% | ||
| Q2 25 | 0.6% | 1.1% | ||
| Q1 25 | 0.9% | 1.1% | ||
| Q4 24 | 0.5% | 0.3% | ||
| Q3 24 | 0.9% | 0.6% | ||
| Q2 24 | 0.6% | 0.5% | ||
| Q1 24 | 0.7% | 0.7% |
现金转化率TOLTPH
| Q4 25 | 1.79× | 3.67× | ||
| Q3 25 | 1.00× | 0.82× | ||
| Q2 25 | 1.03× | -1.22× | ||
| Q1 25 | -2.37× | -0.49× | ||
| Q4 24 | 1.44× | 2.79× | ||
| Q3 24 | 0.47× | 1.50× | ||
| Q2 24 | 0.95× | 0.20× | ||
| Q1 24 | -1.28× | 1.46× |
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
TOL
| Home Building | $3.4B | 100% |
| Land | $9.4M | 0% |
TPH
| West | $547.8M | 56% |
| Central | $245.1M | 25% |
| East | $161.8M | 17% |
| Financial Services Segment | $18.0M | 2% |
| Land | $7.9M | 1% |
