Taylor Morrison Home Corporation (TMHC)财务
NYSE · Consumer Cyclical · Residential Construction · 员工2,800人 · CEO Sheryl Denise Palmer
- 股价
- $72.45 -0.03%
- 市值
- $66.7亿
- 企业价值
- $84.3亿
- 最近财报
- Q1 '26 2026-04-22提交
营收(TTM)$76.1亿-9.0% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)13.2%-2.2 百分点 对比去年同期营业利润 $10亿
净利润(TTM)$6.72亿-25.9% 对比去年同期税后,含营业外收益
自由现金流(TTM)$7.1亿+83.1% 对比去年同期资本支出 $4180万
稀释EPS(TTM)$6.70-22.0% 对比去年同期最近4个季度之和
净现金-$17.6亿+1.1% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $66.7亿 EV $84.3亿
- 营收
- $76.1亿 过去12个月
- 营收增速
- -18% FY2026年一致预期
- 净利润率
- 8.8% 净利润 / 营收,TTM
- P/E
- 10.6× 预期 13.7×(FY2026)
- P/S
- 0.9× 股价 / 营收,TTM
- EV / EBITDA
- 8.6× TTM
- 自由现金流
- $7.1亿 过去12个月
- 净利润
- $6.72亿 过去12个月
- 营收预期
- $66.4亿 FY2026年一致预期
- 盈利
- –
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-04-22):营收超预期5.0%,EPS 超预期25.6%营收$13.9亿,预期$13.2亿(+5.0%);EPS $1.03,预期$0.82(+25.6%)。
- 营收增长放缓:同比-26.8%Q1 '26营收$13.9亿,此前四个季度的平均值为0.4%。
- 营业利润率13.2%(TTM),较去年同期-2.2 百分点营收增长-9.0%,营业利润增长-22.1%。
- 税前利润的12.0%被营业外亏损吞噬税前利润$8.94亿,营业利润$10亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的0.5%(去年为0.4%)最近4个季度投入$4180万(同比+17.0%)。自由现金流$7.1亿,相当于净利润的105.6%。
- 股东回报$4.03亿 = 自由现金流的56.8%回购$4.03亿(去年为$3.91亿),股息$0,股权激励$1460万(TTM)。
- 稀释股数一年内减少5.3%Q1 '26稀释股数9750万,一年前为1.03亿。
- 净债务 $17.6亿现金 + 短期投资 $6.53亿,含租赁债务 $24.1亿;一年前净债务 $17.8亿。
上一季度:Q1 '26
截至2026-03-31的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q1 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $13.9亿 | $19亿 | -26.8% |
| 毛利率 | 21.0% | 24.6% | -3.6 百分点 |
| 营业利润 | $1.42亿 | $2.9亿 | -51.1% |
| 营业利润率 | 10.2% | 15.3% | -5.1 百分点 |
| 净利润 | $1亿 | $2.13亿 | -53.0% |
| 稀释EPS | $1.01 | $2.07 | -51.2% |
| 经营现金流 | -$1040万 | $7720万 | -113.5% |
| 资本支出 | $996万 | $851万 | +17.0% |
| 自由现金流 | -$2040万 | $6870万 | -129.7% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $656万 | $779万 | -15.7% |
实际 vs 一致预期
2026-04-22| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $13.9亿 | $13.2亿 | +5.0% |
| EPS(一致预期口径) | $1.03 | $0.82 | +25.6% |
来自2026-04-22发布的Q1 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q1 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Home Sales | $13.1亿 | -28.3% | 94.5% | $72.4亿 | -9.0% | |
| Amenity | $1190万 | +13.6% | 0.9% | $1.21亿 | -12.9% | |
| Financial Services | $4930万 | -3.8% | 3.6% | $2.07亿 | +1.9% | |
| Land Sales | $1450万 | +239.8% | 1.0% | $4720万 | -39.9% |
按地区划分的营收
占总额比例| 分部 | Q1 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| East Homebuilding Segment | $4.89亿 | – | 64.3% | – | – | |
| Central Segment | $2.71亿 | – | 35.7% | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $7.51亿
- 资本支出
- -$4180万
- 股票回购
- -$4.03亿
- 股息
- $0
- 收购
- -$1840万
- 债务净发行
- $9940万
- 股权激励费用
- $1460万
- 自由现金流
- $7.1亿
- 股东回报 / FCF
- 56.8%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 10.6× | 6.4× | 3.3× – 7.5× |
| EV / EBITDA | 8.6× | 6.3× | 3.7× – 7.8× |
| EV / 营收 | 1.1× | 0.9× | 0.7× – 1.0× |
| 股价 / FCF | 9.4× | 13.4× | 3.2× – 36.7× |
| 股价 / 净资产 | 1.1× | 1.0× | 0.8× – 1.1× |
| FCF收益率 | 10.6% | 13.8% | 2.7% – 30.9% |
| 投入资本回报率 | 10.7% | 11.5% | 9.0% – 14.8% |
| 净资产收益率 | 10.9% | 16.3% | 12.4% – 22.7% |
分析师
一致目标价 $72.67 (+0.3%)
区间 $72.50 – $73.00 · 评级 Hold
强烈买入0
买入14
持有16
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $66.4亿 | -18.3% | $5.29 | -31.9% | 13.7× | 3 |
| FY2027 | $71.5亿 | +7.7% | $6.54 | +23.5% | 11.1× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Taylor Morrison Home Corporation在近期10-Q / 10-K文件中标记的全部238项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts and Financing Receivables, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | $1.39亿 | $2.25亿 | -38.2% | $1.33亿 | $2.08亿 | -36.3% |
| Accounts Payable | $2.55亿 | $2.77亿 | -7.7% | $2.52亿 | $2.7亿 | -6.9% |
| Accrued Income Taxes | $833万 | $6710万 | -87.6% | $815万 | $224万 | +263.2% |
| Accrued Liabilities and Other Liabilities | $5.86亿 | $5.51亿 | +6.4% | $6.83亿 | $6.32亿 | +7.9% |
| Accrued Professional Fees | $4340万 | $4900万 | -11.4% | $5330万 | $4910万 | +8.6% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $260万2025-12-31 | $251万 | +3.5% | $260万 | $251万 | +3.5% |
| Additional Paid in Capital | $31.1亿2025-12-31 | $30.9亿 | +0.9% | $31.1亿 | $30.9亿 | +0.9% |
| Advertising Expense | – | – | – | $4070万 | $3380万 | +20.4% |
| Amortization of Debt Discount (Premium) | $80万 | $66.5万 | +20.3% | $273万 | $289万 | -5.5% |
| APIC, Share-based Payment Arrangement, ESPP, Increase for Cost Recognition | $656万 | $779万 | -15.7% | $2900万 | $2250万 | +29.3% |
| Assets | $97.7亿 | $93.8亿 | +4.1% | $98.4亿 | $93亿 | +5.8% |
| Assets Held-for-sale, Not Part of Disposal Group, Current | – | – | – | $8970万2024-12-31 | $0 | – |
| Cash and Cash Equivalents, at Carrying Value | $6.53亿 | $3.78亿 | +72.8% | $8.5亿 | $4.87亿 | +74.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $6.53亿 | $3.78亿 | +72.8% | $8.51亿 | $4.87亿 | +74.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$1.98亿 | -$1.09亿 | -81.4% | $3.64亿 | -$3.2亿 | +213.8% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 4亿 | 4亿 | 0.0% | 4亿 | 4亿 | 0.0% |
| Common Stock, Shares, Issued | 1.63亿2025-12-31 | 1.62亿 | +0.5% | 1.63亿 | 1.62亿 | +0.5% |
| Common Stock, Shares, Outstanding | 9650万2025-12-31 | 1.02亿 | -5.6% | 9650万 | 1.02亿 | -5.6% |
| Common Stock, Value, Issued | $10002025-12-31 | $1000 | 0.0% | $1000 | $1000 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | – | – | – | $876万 | $326万 | +168.7% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | – | – | – | $7.83亿 | $8.85亿 | -11.6% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | – | – | – | $7.91亿 | $8.88亿 | -10.9% |
| Contract with Customer, Liability | $1.55亿 | $2.43亿 | -36.3% | $1.25亿 | $2.39亿 | -47.7% |
| Cost of Revenue | $11亿 | $14.3亿 | -23.5% | $62.5亿 | $61.8亿 | +1.1% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.96亿 | $2.32亿 | -15.4% |
| Current Income Tax Expense (Benefit) | – | – | – | $2.42亿 | $2.79亿 | -13.0% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $4650万 | $4690万 | -0.8% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $1110万 | $618万 | +80.3% | $1170万 | $662万 | +76.3% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $746万 | -$895万 | +183.4% |
| Deferred Income Tax Assets, Net | $7440万 | $7620万 | -2.5% | $7440万 | $7620万 | -2.5% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $189万 | -$842万 | +122.4% |
| Deferred Other Tax Expense (Benefit) | – | – | – | $828万 | -$911万 | +190.9% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $81.8万 | -$16.1万 | +608.1% |
| Deferred Tax Assets, Gross | $1.61亿2025-12-31 | $1.7亿 | -4.9% | $1.61亿 | $1.7亿 | -4.9% |
| Deferred Tax Assets, Inventory | $2530万2025-12-31 | $2650万 | -4.4% | $2530万 | $2650万 | -4.4% |
| Deferred Tax Assets, Net | $7440万2025-12-31 | $7620万 | -2.5% | $7440万 | $7620万 | -2.5% |
| Deferred Tax Assets, Operating Loss Carryforwards | $4320万2025-12-31 | $4900万 | -11.7% | $4320万 | $4900万 | -11.7% |
| Deferred Tax Assets, Tax Deferred Expense, Other | $2600万2025-12-31 | $2070万 | +25.6% | $2600万 | $2070万 | +25.6% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals | $6670万2025-12-31 | $7340万 | -9.2% | $6670万 | $7340万 | -9.2% |
| Deferred Tax Assets, Valuation Allowance | $458万2025-12-31 | $573万 | -20.0% | $458万 | $573万 | -20.0% |
| Deferred Tax Liabilities, Gross | $8230万2025-12-31 | $8760万 | -6.1% | $8230万 | $8760万 | -6.1% |
| Deferred Tax Liabilities, Intangible Assets | $2650万2025-12-31 | $2150万 | +23.2% | $2650万 | $2150万 | +23.2% |
| Deferred Tax Liabilities, Other | $1220万2025-12-31 | $1090万 | +12.6% | $1220万 | $1090万 | +12.6% |
| Deferred Tax Liabilities, Tax Deferred Income | $4350万2025-12-31 | $5520万 | -21.2% | $4350万 | $5520万 | -21.2% |
| Defined Contribution Plan, Employer Discretionary Contribution Amount | – | – | – | $1530万 | $1440万 | +6.3% |
| Deposits Assets | $3.88亿 | $3.03亿 | +28.3% | $3.61亿 | $3亿 | +20.4% |
| Depreciation | – | – | – | $750万 | $1150万 | -34.8% |
| Depreciation, Depletion and Amortization | $1070万 | $902万 | +19.0% | $4020万 | $4120万 | -2.4% |
| Derivative Liability, Fair Value, Gross Liability | $1770万 | $474万 | +273.1% | $1460万 | $174万 | +736.1% |
| Earnings Per Share, Basic | $1.03 | $2.11 | -51.2% | $7.90 | $8.43 | -6.3% |
| Earnings Per Share, Diluted | $1.01 | $2.07 | -51.2% | $7.77 | $8.27 | -6.0% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | $2.19亿 | $2.43亿 | -9.9% |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 21.0% | 21.0% | 0.0% |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | – | – | – | $0 | $0 | – |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | – | – | – | 0.0% | 0.0% | – |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount | – | – | – | $199万2023-12-31 | – | – |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent | – | – | – | 0.2%2023-12-31 | – | – |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | – | – | – | -$471万 | -$187万 | -151.5% |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | – | – | – | -0.4% | -0.2% | -100.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-03-31
部分数据在上次刷新中未能更新，显示的是旧数据或无数据。
数据截至 2026-11-02