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Side-by-side financial comparison of ALERUS FINANCIAL CORP (ALRS) and RE/MAX Holdings, Inc. (RMAX). Click either name above to swap in a different company.
RE/MAX Holdings, Inc. is the larger business by last-quarter revenue ($71.1M vs $45.2M, roughly 1.6× ALERUS FINANCIAL CORP). RE/MAX Holdings, Inc. runs the higher net margin — 2.0% vs -73.2%, a 75.2% gap on every dollar of revenue. On growth, ALERUS FINANCIAL CORP posted the faster year-over-year revenue change (18.0% vs -1.8%). ALERUS FINANCIAL CORP produced more free cash flow last quarter ($58.8M vs $33.5M). Over the past eight quarters, ALERUS FINANCIAL CORP's revenue compounded faster (-2.5% CAGR vs -4.7%).
Alerus Financial Corporation, marketed as simply Alerus, is a chain of financial institutions headquartered in Grand Forks, North Dakota, with locations in North Dakota, Minnesota, Wisconsin, and Arizona. Alerus offers banking, mortgage, wealth management, and retirement services.
RE/MAX is an international real estate franchise operating in over 100 countries and territories that, in 2015, had over 100,000 agents in 6,800 offices.
ALRS vs RMAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $45.2M | $71.1M |
| Net Profit | $-33.1M | $1.4M |
| Gross Margin | — | — |
| Operating Margin | -96.0% | 13.1% |
| Net Margin | -73.2% | 2.0% |
| Revenue YoY | 18.0% | -1.8% |
| Net Profit YoY | -49232.8% | -75.2% |
| EPS (diluted) | $-1.27 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $45.2M | $71.1M | ||
| Q3 25 | $72.6M | $73.2M | ||
| Q2 25 | $74.8M | $72.8M | ||
| Q1 25 | $68.8M | $74.5M | ||
| Q4 24 | $72.2M | $72.5M | ||
| Q3 24 | $50.9M | $78.5M | ||
| Q2 24 | $51.4M | $78.5M | ||
| Q1 24 | $47.5M | $78.3M |
| Q4 25 | $-33.1M | $1.4M | ||
| Q3 25 | $16.9M | $4.0M | ||
| Q2 25 | $20.3M | $4.7M | ||
| Q1 25 | $13.3M | $-2.0M | ||
| Q4 24 | $-67.0K | $5.8M | ||
| Q3 24 | $5.2M | $966.0K | ||
| Q2 24 | $6.2M | $3.7M | ||
| Q1 24 | $6.4M | $-3.4M |
| Q4 25 | -96.0% | 13.1% | ||
| Q3 25 | 30.4% | 25.0% | ||
| Q2 25 | 35.2% | 19.3% | ||
| Q1 25 | 25.5% | 7.2% | ||
| Q4 24 | -0.8% | 5.9% | ||
| Q3 24 | 13.4% | 19.4% | ||
| Q2 24 | 15.8% | 20.6% | ||
| Q1 24 | 17.9% | 5.8% |
| Q4 25 | -73.2% | 2.0% | ||
| Q3 25 | 23.3% | 5.4% | ||
| Q2 25 | 27.1% | 6.4% | ||
| Q1 25 | 19.4% | -2.6% | ||
| Q4 24 | -0.2% | 8.0% | ||
| Q3 24 | 10.2% | 1.2% | ||
| Q2 24 | 12.1% | 4.7% | ||
| Q1 24 | 13.5% | -4.3% |
| Q4 25 | $-1.27 | — | ||
| Q3 25 | $0.65 | — | ||
| Q2 25 | $0.78 | — | ||
| Q1 25 | $0.52 | — | ||
| Q4 24 | $-0.06 | — | ||
| Q3 24 | $0.26 | — | ||
| Q2 24 | $0.31 | — | ||
| Q1 24 | $0.32 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $67.2M | $118.7M |
| Total DebtLower is stronger | $59.2M | $432.2M |
| Stockholders' EquityBook value | $564.9M | $452.4M |
| Total Assets | $5.2B | $582.5M |
| Debt / EquityLower = less leverage | 0.10× | 0.96× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $67.2M | $118.7M | ||
| Q3 25 | $92.0M | $107.5M | ||
| Q2 25 | $80.9M | $94.3M | ||
| Q1 25 | $83.0M | $89.1M | ||
| Q4 24 | $61.2M | $96.6M | ||
| Q3 24 | $66.0M | $83.8M | ||
| Q2 24 | $438.1M | $66.1M | ||
| Q1 24 | $545.8M | $82.1M |
| Q4 25 | $59.2M | $432.2M | ||
| Q3 25 | $59.2M | $433.3M | ||
| Q2 25 | $59.1M | $434.4M | ||
| Q1 25 | $59.1M | $435.3M | ||
| Q4 24 | $59.1M | $436.2M | ||
| Q3 24 | $59.0M | $437.2M | ||
| Q2 24 | $59.0M | $438.1M | ||
| Q1 24 | $59.0M | $439.0M |
| Q4 25 | $564.9M | $452.4M | ||
| Q3 25 | $550.7M | $448.1M | ||
| Q2 25 | $533.2M | $442.4M | ||
| Q1 25 | $514.2M | $433.5M | ||
| Q4 24 | $495.4M | $429.5M | ||
| Q3 24 | $386.5M | $423.1M | ||
| Q2 24 | $373.2M | $418.4M | ||
| Q1 24 | $371.6M | $412.0M |
| Q4 25 | $5.2B | $582.5M | ||
| Q3 25 | $5.3B | $582.2M | ||
| Q2 25 | $5.3B | $574.8M | ||
| Q1 25 | $5.3B | $571.4M | ||
| Q4 24 | $5.3B | $581.6M | ||
| Q3 24 | $4.4B | $578.6M | ||
| Q2 24 | $4.4B | $571.4M | ||
| Q1 24 | $4.3B | $566.7M |
| Q4 25 | 0.10× | 0.96× | ||
| Q3 25 | 0.11× | 0.97× | ||
| Q2 25 | 0.11× | 0.98× | ||
| Q1 25 | 0.11× | 1.00× | ||
| Q4 24 | 0.12× | 1.02× | ||
| Q3 24 | 0.15× | 1.03× | ||
| Q2 24 | 0.16× | 1.05× | ||
| Q1 24 | 0.16× | 1.07× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $67.5M | $40.9M |
| Free Cash FlowOCF − Capex | $58.8M | $33.5M |
| FCF MarginFCF / Revenue | 130.2% | 47.1% |
| Capex IntensityCapex / Revenue | 19.3% | 10.4% |
| Cash ConversionOCF / Net Profit | — | 28.39× |
| TTM Free Cash FlowTrailing 4 quarters | $102.4M | $56.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $67.5M | $40.9M | ||
| Q3 25 | $32.8M | $17.7M | ||
| Q2 25 | $10.7M | $4.6M | ||
| Q1 25 | $7.7M | $5.7M | ||
| Q4 24 | $21.7M | $59.7M | ||
| Q3 24 | $20.2M | $17.6M | ||
| Q2 24 | $-12.5M | $15.9M | ||
| Q1 24 | $11.7M | $9.4M |
| Q4 25 | $58.8M | $33.5M | ||
| Q3 25 | $30.3M | $16.4M | ||
| Q2 25 | $7.6M | $2.9M | ||
| Q1 25 | $5.7M | $4.0M | ||
| Q4 24 | $9.4M | $53.0M | ||
| Q3 24 | $17.4M | $16.3M | ||
| Q2 24 | $-16.1M | $14.0M | ||
| Q1 24 | $10.8M | $6.8M |
| Q4 25 | 130.2% | 47.1% | ||
| Q3 25 | 41.8% | 22.4% | ||
| Q2 25 | 10.1% | 4.0% | ||
| Q1 25 | 8.2% | 5.3% | ||
| Q4 24 | 13.0% | 73.2% | ||
| Q3 24 | 34.2% | 20.8% | ||
| Q2 24 | -31.4% | 17.8% | ||
| Q1 24 | 22.8% | 8.6% |
| Q4 25 | 19.3% | 10.4% | ||
| Q3 25 | 3.4% | 1.8% | ||
| Q2 25 | 4.2% | 2.2% | ||
| Q1 25 | 3.0% | 2.3% | ||
| Q4 24 | 17.1% | 9.1% | ||
| Q3 24 | 5.4% | 1.7% | ||
| Q2 24 | 7.2% | 2.4% | ||
| Q1 24 | 1.9% | 3.3% |
| Q4 25 | — | 28.39× | ||
| Q3 25 | 1.94× | 4.45× | ||
| Q2 25 | 0.53× | 0.97× | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | 3.88× | 18.22× | ||
| Q2 24 | -2.01× | 4.29× | ||
| Q1 24 | 1.82× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALRS
| Other | $17.3M | 38% |
| Retirement And Benefit Services | $17.3M | 38% |
| Wealth Management | $7.4M | 16% |
| Mortgage Banking | $3.2M | 7% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
