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American Assets Trust, Inc.（AAT）与RE/MAX Holdings, Inc.（RMAX）财务数据对比。点击上方公司名可切换其他公司
American Assets Trust, Inc.的季度营收约是RE/MAX Holdings, Inc.的1.6倍（$110.6M vs $71.1M），American Assets Trust, Inc.净利率更高（6.1% vs 2.0%，领先4.1%），American Assets Trust, Inc.同比增速更快（1.8% vs -1.8%），过去两年American Assets Trust, Inc.的营收复合增速更高（-0.1% vs -4.7%）
该公司是一家大型英国投资信托，在伦敦证券交易所上市，同时是富时250指数的成分股，现任董事长为获颁CBE勋章的伊恩·弗格森。
RE/MAX是全球知名的房地产特许经营机构，业务遍布全球一百多个国家和地区，旗下拥有数千家门店，总计超过十万名房产经纪人，在国际房产中介领域拥有极高的品牌知名度与市场影响力。
AAT vs RMAX — 直观对比
营收规模更大
AAT
是对方的1.6倍
$71.1M
营收增速更快
AAT
高出3.7%
-1.8%
净利率更高
AAT
高出4.1%
2.0%
两年增速更快
AAT
近两年复合增速
-4.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $110.6M | $71.1M |
| 净利润 | $6.7M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | 23.4% | 13.1% |
| 净利率 | 6.1% | 2.0% |
| 营收同比 | 1.8% | -1.8% |
| 净利润同比 | -16.3% | -75.2% |
| 每股收益（稀释后） | $0.08 | — |
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AATRMAX
| Q1 26 | $110.6M | — | ||
| Q4 25 | $110.1M | $71.1M | ||
| Q3 25 | $109.6M | $73.2M | ||
| Q2 25 | $107.9M | $72.8M | ||
| Q1 25 | $108.6M | $74.5M | ||
| Q4 24 | $113.5M | $72.5M | ||
| Q3 24 | $122.8M | $78.5M | ||
| Q2 24 | $110.9M | $78.5M |
净利润AATRMAX
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | $1.4M | ||
| Q3 25 | $4.5M | $4.0M | ||
| Q2 25 | $5.5M | $4.7M | ||
| Q1 25 | $42.5M | $-2.0M | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | $16.7M | $966.0K | ||
| Q2 24 | $11.9M | $3.7M |
毛利率AATRMAX
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | — | ||
| Q3 25 | 60.5% | — | ||
| Q2 25 | 62.6% | — | ||
| Q1 25 | 62.0% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 65.5% | — | ||
| Q2 24 | 63.6% | — |
营业利润率AATRMAX
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | 13.1% | ||
| Q3 25 | 22.6% | 25.0% | ||
| Q2 25 | 24.1% | 19.3% | ||
| Q1 25 | 66.3% | 7.2% | ||
| Q4 24 | 26.5% | 5.9% | ||
| Q3 24 | 30.8% | 19.4% | ||
| Q2 24 | 27.8% | 20.6% |
净利率AATRMAX
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | 2.0% | ||
| Q3 25 | 4.1% | 5.4% | ||
| Q2 25 | 5.1% | 6.4% | ||
| Q1 25 | 39.2% | -2.6% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | 13.6% | 1.2% | ||
| Q2 24 | 10.7% | 4.7% |
每股收益（稀释后）AATRMAX
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | — | ||
| Q3 25 | $0.07 | — | ||
| Q2 25 | $0.09 | — | ||
| Q1 25 | $0.70 | — | ||
| Q4 24 | $0.14 | — | ||
| Q3 24 | $0.28 | — | ||
| Q2 24 | $0.20 | — |
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 | $118.3M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $1.1B | $452.4M |
| 总资产 | $2.9B | $582.5M |
| 负债/权益比越低杠杆越低 | — | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资AATRMAX
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $118.7M | ||
| Q3 25 | $138.7M | $107.5M | ||
| Q2 25 | $143.7M | $94.3M | ||
| Q1 25 | $143.9M | $89.1M | ||
| Q4 24 | $425.7M | $96.6M | ||
| Q3 24 | $533.0M | $83.8M | ||
| Q2 24 | $114.9M | $66.1M |
总债务AATRMAX
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | $2.0B | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M |
股东权益AATRMAX
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $452.4M | ||
| Q3 25 | $1.2B | $448.1M | ||
| Q2 25 | $1.2B | $442.4M | ||
| Q1 25 | $1.2B | $433.5M | ||
| Q4 24 | $1.2B | $429.5M | ||
| Q3 24 | $1.2B | $423.1M | ||
| Q2 24 | $1.2B | $418.4M |
总资产AATRMAX
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $582.5M | ||
| Q3 25 | $2.9B | $582.2M | ||
| Q2 25 | $3.0B | $574.8M | ||
| Q1 25 | $3.0B | $571.4M | ||
| Q4 24 | $3.3B | $581.6M | ||
| Q3 24 | $3.4B | $578.6M | ||
| Q2 24 | $3.0B | $571.4M |
负债/权益比AATRMAX
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | 1.72× | 1.02× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 1.05× |
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 | — | $40.9M |
| 自由现金流经营现金流 - 资本支出 | — | $33.5M |
| 自由现金流率自由现金流/营收 | — | 47.1% |
| 资本支出强度资本支出/营收 | 14.5% | 10.4% |
| 现金转化率经营现金流/净利润 | — | 28.39× |
| 过去12个月自由现金流最近4个季度 | — | $56.8M |
8季度趋势，按日历期对齐
经营现金流AATRMAX
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $40.9M | ||
| Q3 25 | $40.5M | $17.7M | ||
| Q2 25 | $49.2M | $4.6M | ||
| Q1 25 | $36.9M | $5.7M | ||
| Q4 24 | $207.1M | $59.7M | ||
| Q3 24 | $52.4M | $17.6M | ||
| Q2 24 | $59.3M | $15.9M |
自由现金流AATRMAX
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | $33.5M | ||
| Q3 25 | $23.1M | $16.4M | ||
| Q2 25 | $28.4M | $2.9M | ||
| Q1 25 | $20.4M | $4.0M | ||
| Q4 24 | $136.9M | $53.0M | ||
| Q3 24 | $28.0M | $16.3M | ||
| Q2 24 | $43.6M | $14.0M |
自由现金流率AATRMAX
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | 47.1% | ||
| Q3 25 | 21.1% | 22.4% | ||
| Q2 25 | 26.3% | 4.0% | ||
| Q1 25 | 18.8% | 5.3% | ||
| Q4 24 | 120.7% | 73.2% | ||
| Q3 24 | 22.8% | 20.8% | ||
| Q2 24 | 39.3% | 17.8% |
资本支出强度AATRMAX
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | 10.4% | ||
| Q3 25 | 15.9% | 1.8% | ||
| Q2 25 | 19.3% | 2.2% | ||
| Q1 25 | 15.1% | 2.3% | ||
| Q4 24 | 61.9% | 9.1% | ||
| Q3 24 | 19.9% | 1.7% | ||
| Q2 24 | 14.1% | 2.4% |
现金转化率AATRMAX
| Q1 26 | — | — | ||
| Q4 25 | — | 28.39× | ||
| Q3 25 | 8.98× | 4.45× | ||
| Q2 25 | 9.01× | 0.97× | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | 3.15× | 18.22× | ||
| Q2 24 | 4.98× | 4.29× |
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
AAT
| Rental income | $104.4M | 94% |
| Other | $6.2M | 6% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
