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ACACIA RESEARCH CORP（ACTG）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
RE/MAX Holdings, Inc.的季度营收约是ACACIA RESEARCH CORP的1.4倍（$71.1M vs $50.1M），ACACIA RESEARCH CORP净利率更高（6.8% vs 2.0%，领先4.8%），ACACIA RESEARCH CORP同比增速更快（2.6% vs -1.8%），过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs -4.7%）
槐亚研究公司是一家总部位于纽约市的美国上市企业，在科技、能源以及工业制造领域开展业务收购与运营工作。该公司与控股股东斯塔博德价值投资合伙企业保持战略伙伴关系，这家企业在业内常被归类为专利流氓。
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。
ACTG vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.4倍
$50.1M
营收增速更快
ACTG
高出4.5%
-1.8%
净利率更高
ACTG
高出4.8%
2.0%
两年增速更快
ACTG
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $71.1M |
| 净利润 | $3.4M | $1.4M |
| 毛利率 | 12.8% | — |
| 营业利润率 | -26.1% | 13.1% |
| 净利率 | 6.8% | 2.0% |
| 营收同比 | 2.6% | -1.8% |
| 净利润同比 | 125.5% | -75.2% |
| 每股收益（稀释后） | $0.03 | — |
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ACTGRMAX
| Q4 25 | $50.1M | $71.1M | ||
| Q3 25 | $59.4M | $73.2M | ||
| Q2 25 | $51.2M | $72.8M | ||
| Q1 25 | $124.4M | $74.5M | ||
| Q4 24 | $48.8M | $72.5M | ||
| Q3 24 | $23.3M | $78.5M | ||
| Q2 24 | $25.8M | $78.5M | ||
| Q1 24 | $24.3M | $78.3M |
净利润ACTGRMAX
| Q4 25 | $3.4M | $1.4M | ||
| Q3 25 | $-2.7M | $4.0M | ||
| Q2 25 | $-3.3M | $4.7M | ||
| Q1 25 | $24.3M | $-2.0M | ||
| Q4 24 | $-13.4M | $5.8M | ||
| Q3 24 | $-14.0M | $966.0K | ||
| Q2 24 | $-8.4M | $3.7M | ||
| Q1 24 | $-186.0K | $-3.4M |
毛利率ACTGRMAX
| Q4 25 | 12.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 47.4% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 26.2% | — | ||
| Q1 24 | 49.2% | — |
营业利润率ACTGRMAX
| Q4 25 | -26.1% | 13.1% | ||
| Q3 25 | -10.8% | 25.0% | ||
| Q2 25 | -24.2% | 19.3% | ||
| Q1 25 | 30.8% | 7.2% | ||
| Q4 24 | -32.4% | 5.9% | ||
| Q3 24 | -44.1% | 19.4% | ||
| Q2 24 | -18.4% | 20.6% | ||
| Q1 24 | -8.6% | 5.8% |
净利率ACTGRMAX
| Q4 25 | 6.8% | 2.0% | ||
| Q3 25 | -4.6% | 5.4% | ||
| Q2 25 | -6.4% | 6.4% | ||
| Q1 25 | 19.5% | -2.6% | ||
| Q4 24 | -27.5% | 8.0% | ||
| Q3 24 | -60.0% | 1.2% | ||
| Q2 24 | -32.7% | 4.7% | ||
| Q1 24 | -0.8% | -4.3% |
每股收益（稀释后）ACTGRMAX
| Q4 25 | $0.03 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $-0.03 | — | ||
| Q1 25 | $0.25 | — | ||
| Q4 24 | $-0.14 | — | ||
| Q3 24 | $-0.14 | — | ||
| Q2 24 | $-0.08 | — | ||
| Q1 24 | $0.00 | — |
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 | $306.7M | $118.7M |
| 总债务越低越好 | $91.9M | $432.2M |
| 股东权益账面价值 | $543.5M | $452.4M |
| 总资产 | $771.0M | $582.5M |
| 负债/权益比越低杠杆越低 | 0.17× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资ACTGRMAX
| Q4 25 | $306.7M | $118.7M | ||
| Q3 25 | $301.8M | $107.5M | ||
| Q2 25 | $316.7M | $94.3M | ||
| Q1 25 | $272.0M | $89.1M | ||
| Q4 24 | $273.9M | $96.6M | ||
| Q3 24 | $410.9M | $83.8M | ||
| Q2 24 | $441.9M | $66.1M | ||
| Q1 24 | $498.4M | $82.1M |
总债务ACTGRMAX
| Q4 25 | $91.9M | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | — | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
股东权益ACTGRMAX
| Q4 25 | $543.5M | $452.4M | ||
| Q3 25 | $537.6M | $448.1M | ||
| Q2 25 | $538.6M | $442.4M | ||
| Q1 25 | $540.2M | $433.5M | ||
| Q4 24 | $514.8M | $429.5M | ||
| Q3 24 | $540.2M | $423.1M | ||
| Q2 24 | $560.7M | $418.4M | ||
| Q1 24 | $568.3M | $412.0M |
总资产ACTGRMAX
| Q4 25 | $771.0M | $582.5M | ||
| Q3 25 | $768.9M | $582.2M | ||
| Q2 25 | $775.5M | $574.8M | ||
| Q1 25 | $801.6M | $571.4M | ||
| Q4 24 | $756.4M | $581.6M | ||
| Q3 24 | $707.6M | $578.6M | ||
| Q2 24 | $753.6M | $571.4M | ||
| Q1 24 | $631.7M | $566.7M |
负债/权益比ACTGRMAX
| Q4 25 | 0.17× | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | — | 1.02× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | — | 1.07× |
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 | $75.2M | $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 | — | 10.4% |
| 现金转化率经营现金流/净利润 | 22.01× | 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ACTGRMAX
| Q4 25 | $75.2M | $40.9M | ||
| Q3 25 | $9.5M | $17.7M | ||
| Q2 25 | $50.1M | $4.6M | ||
| Q1 25 | $2.4M | $5.7M | ||
| Q4 24 | $50.1M | $59.7M | ||
| Q3 24 | $-593.0K | $17.6M | ||
| Q2 24 | $16.1M | $15.9M | ||
| Q1 24 | $54.8M | $9.4M |
自由现金流ACTGRMAX
| Q4 25 | — | $33.5M | ||
| Q3 25 | — | $16.4M | ||
| Q2 25 | — | $2.9M | ||
| Q1 25 | $335.0K | $4.0M | ||
| Q4 24 | $-98.5M | $53.0M | ||
| Q3 24 | $-2.8M | $16.3M | ||
| Q2 24 | $-126.7M | $14.0M | ||
| Q1 24 | $54.6M | $6.8M |
自由现金流率ACTGRMAX
| Q4 25 | — | 47.1% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | 0.3% | 5.3% | ||
| Q4 24 | -201.8% | 73.2% | ||
| Q3 24 | -12.1% | 20.8% | ||
| Q2 24 | -490.5% | 17.8% | ||
| Q1 24 | 224.4% | 8.6% |
资本支出强度ACTGRMAX
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | 1.7% | 2.3% | ||
| Q4 24 | 304.4% | 9.1% | ||
| Q3 24 | 9.6% | 1.7% | ||
| Q2 24 | 553.0% | 2.4% | ||
| Q1 24 | 1.1% | 3.3% |
现金转化率ACTGRMAX
| Q4 25 | 22.01× | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| Q1 24 | — | — |
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
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
