vs
FEDERAL AGRICULTURAL MORTGAGE CORP（AGM）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
FEDERAL AGRICULTURAL MORTGAGE CORP的季度营收约是RE/MAX Holdings, Inc.的1.5倍（$107.5M vs $71.1M），FEDERAL AGRICULTURAL MORTGAGE CORP同比增速更快（6.1% vs -1.8%），过去两年FEDERAL AGRICULTURAL MORTGAGE CORP的营收复合增速更高（7.1% vs -4.7%）
联邦农业抵押贷款公司（又称Farmer Mac）是由美国国会1988年依据《1987年农业信贷法案》设立、由股东持股的联邦特许企业，核心业务是搭建农业不动产及住房抵押贷款的二级市场，提升农业领域的信贷流动性，为农户、牧场主及乡村社区提供长期稳定的信贷支持。
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。
AGM vs RMAX — 直观对比
营收规模更大
AGM
是对方的1.5倍
$71.1M
营收增速更快
AGM
高出8.0%
-1.8%
两年增速更快
AGM
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $107.5M | $71.1M |
| 净利润 | — | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | 56.3% | 13.1% |
| 净利率 | — | 2.0% |
| 营收同比 | 6.1% | -1.8% |
| 净利润同比 | — | -75.2% |
| 每股收益（稀释后） | $3.69 | — |
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AGMRMAX
| Q4 25 | $107.5M | $71.1M | ||
| Q3 25 | $104.0M | $73.2M | ||
| Q2 25 | $102.6M | $72.8M | ||
| Q1 25 | $94.3M | $74.5M | ||
| Q4 24 | $101.3M | $72.5M | ||
| Q3 24 | $90.3M | $78.5M | ||
| Q2 24 | $89.9M | $78.5M | ||
| Q1 24 | $93.7M | $78.3M |
净利润AGMRMAX
| Q4 25 | — | $1.4M | ||
| Q3 25 | $55.0M | $4.0M | ||
| Q2 25 | $54.8M | $4.7M | ||
| Q1 25 | $49.7M | $-2.0M | ||
| Q4 24 | $56.5M | $5.8M | ||
| Q3 24 | $49.8M | $966.0K | ||
| Q2 24 | $47.1M | $3.7M | ||
| Q1 24 | $53.7M | $-3.4M |
营业利润率AGMRMAX
| Q4 25 | 56.3% | 13.1% | ||
| Q3 25 | 64.1% | 25.0% | ||
| Q2 25 | 63.8% | 19.3% | ||
| Q1 25 | 66.9% | 7.2% | ||
| Q4 24 | 67.5% | 5.9% | ||
| Q3 24 | 69.0% | 19.4% | ||
| Q2 24 | 65.9% | 20.6% | ||
| Q1 24 | 72.8% | 5.8% |
净利率AGMRMAX
| Q4 25 | — | 2.0% | ||
| Q3 25 | 52.9% | 5.4% | ||
| Q2 25 | 53.4% | 6.4% | ||
| Q1 25 | 52.6% | -2.6% | ||
| Q4 24 | 55.8% | 8.0% | ||
| Q3 24 | 55.2% | 1.2% | ||
| Q2 24 | 52.4% | 4.7% | ||
| Q1 24 | 57.4% | -4.3% |
每股收益（稀释后）AGMRMAX
| Q4 25 | $3.69 | — | ||
| Q3 25 | $4.44 | — | ||
| Q2 25 | $4.48 | — | ||
| Q1 25 | $4.01 | — | ||
| Q4 24 | $4.62 | — | ||
| Q3 24 | $3.86 | — | ||
| Q2 24 | $3.68 | — | ||
| Q1 24 | $4.28 | — |
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 | — | $118.7M |
| 总债务越低越好 | $30.8B | $432.2M |
| 股东权益账面价值 | $1.7B | $452.4M |
| 总资产 | $35.4B | $582.5M |
| 负债/权益比越低杠杆越低 | 17.93× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资AGMRMAX
| Q4 25 | — | $118.7M | ||
| Q3 25 | — | $107.5M | ||
| Q2 25 | — | $94.3M | ||
| Q1 25 | — | $89.1M | ||
| Q4 24 | — | $96.6M | ||
| Q3 24 | $842.1M | $83.8M | ||
| Q2 24 | $923.0M | $66.1M | ||
| Q1 24 | $745.1M | $82.1M |
总债务AGMRMAX
| Q4 25 | $30.8B | $432.2M | ||
| Q3 25 | $29.2B | $433.3M | ||
| Q2 25 | $28.9B | $434.4M | ||
| Q1 25 | $28.0B | $435.3M | ||
| Q4 24 | $27.5B | $436.2M | ||
| Q3 24 | $27.2B | $437.2M | ||
| Q2 24 | $26.8B | $438.1M | ||
| Q1 24 | $26.8B | $439.0M |
股东权益AGMRMAX
| Q4 25 | $1.7B | $452.4M | ||
| Q3 25 | $1.7B | $448.1M | ||
| Q2 25 | $1.5B | $442.4M | ||
| Q1 25 | $1.5B | $433.5M | ||
| Q4 24 | $1.5B | $429.5M | ||
| Q3 24 | $1.5B | $423.1M | ||
| Q2 24 | $1.5B | $418.4M | ||
| Q1 24 | $1.5B | $412.0M |
总资产AGMRMAX
| Q4 25 | $35.4B | $582.5M | ||
| Q3 25 | $33.4B | $582.2M | ||
| Q2 25 | $33.0B | $574.8M | ||
| Q1 25 | $31.8B | $571.4M | ||
| Q4 24 | $31.3B | $581.6M | ||
| Q3 24 | $30.6B | $578.6M | ||
| Q2 24 | $30.2B | $571.4M | ||
| Q1 24 | $29.8B | $566.7M |
负债/权益比AGMRMAX
| Q4 25 | 17.93× | 0.96× | ||
| Q3 25 | 17.31× | 0.97× | ||
| Q2 25 | 18.70× | 0.98× | ||
| Q1 25 | 18.39× | 1.00× | ||
| Q4 24 | 18.48× | 1.02× | ||
| Q3 24 | 18.60× | 1.03× | ||
| Q2 24 | 17.87× | 1.05× | ||
| Q1 24 | 18.11× | 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 | $80.1M | $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 | 0.0% | 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AGMRMAX
| Q4 25 | $80.1M | $40.9M | ||
| Q3 25 | $74.2M | $17.7M | ||
| Q2 25 | $-47.7M | $4.6M | ||
| Q1 25 | $-49.8M | $5.7M | ||
| Q4 24 | $612.6M | $59.7M | ||
| Q3 24 | $-44.4M | $17.6M | ||
| Q2 24 | $56.1M | $15.9M | ||
| Q1 24 | $233.3M | $9.4M |
自由现金流AGMRMAX
| Q4 25 | — | $33.5M | ||
| Q3 25 | — | $16.4M | ||
| Q2 25 | — | $2.9M | ||
| Q1 25 | — | $4.0M | ||
| Q4 24 | $607.4M | $53.0M | ||
| Q3 24 | $-44.4M | $16.3M | ||
| Q2 24 | $52.6M | $14.0M | ||
| Q1 24 | $231.7M | $6.8M |
自由现金流率AGMRMAX
| Q4 25 | — | 47.1% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | 599.8% | 73.2% | ||
| Q3 24 | -49.2% | 20.8% | ||
| Q2 24 | 58.5% | 17.8% | ||
| Q1 24 | 247.3% | 8.6% |
资本支出强度AGMRMAX
| Q4 25 | 0.0% | 10.4% | ||
| Q3 25 | 0.0% | 1.8% | ||
| Q2 25 | 0.0% | 2.2% | ||
| Q1 25 | 0.0% | 2.3% | ||
| Q4 24 | 5.2% | 9.1% | ||
| Q3 24 | 0.1% | 1.7% | ||
| Q2 24 | 4.0% | 2.4% | ||
| Q1 24 | 1.7% | 3.3% |
现金转化率AGMRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | 1.35× | 4.45× | ||
| Q2 25 | -0.87× | 0.97× | ||
| Q1 25 | -1.00× | — | ||
| Q4 24 | 10.84× | 10.28× | ||
| Q3 24 | -0.89× | 18.22× | ||
| Q2 24 | 1.19× | 4.29× | ||
| Q1 24 | 4.34× | — |
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
AGM
暂无分部数据
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
