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Armada Hoffler Properties, Inc.（AHH）与RMR GROUP INC.（RMR）财务数据对比。点击上方公司名可切换其他公司
Armada Hoffler Properties, Inc.的季度营收约是RMR GROUP INC.的1.1倍（$75.6M vs $66.7M），RMR GROUP INC.净利率更高（18.3% vs 3.1%，领先15.1%），RMR GROUP INC.同比增速更快（40.8% vs 0.8%）
Armada Hoffler Properties是一家公开上市的房地产投资信托，业务覆盖美国大西洋中部及东南部地区，开发、持有并运营涵盖办公、零售、多户住宅的多元化优质物业组合，同时为第三方客户提供全链条建筑开发服务。
RMR集团是总部位于美国的另类资产管理企业，核心业务聚焦不动产及相关投资，覆盖商业地产、住宅物业、基础设施等赛道，服务全球核心市场的机构投资者、高净值人士及零售客户。
AHH vs RMR — 直观对比
营收规模更大
AHH
是对方的1.1倍
$66.7M
营收增速更快
RMR
高出40.0%
0.8%
净利率更高
RMR
高出15.1%
3.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $75.6M | $66.7M |
| 净利润 | $2.4M | $12.2M |
| 毛利率 | — | — |
| 营业利润率 | 31.0% | 48.1% |
| 净利率 | 3.1% | 18.3% |
| 营收同比 | 0.8% | 40.8% |
| 净利润同比 | -89.8% | 91.1% |
| 每股收益（稀释后） | $0.00 | $0.71 |
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AHHRMR
| Q4 25 | $75.6M | $66.7M | ||
| Q3 25 | $72.7M | — | ||
| Q2 25 | $69.1M | — | ||
| Q1 25 | $67.8M | — | ||
| Q4 24 | $75.0M | — | ||
| Q3 24 | $114.4M | — | ||
| Q2 24 | $116.8M | — | ||
| Q1 24 | $127.0M | — |
净利润AHHRMR
| Q4 25 | $2.4M | $12.2M | ||
| Q3 25 | $80.0K | — | ||
| Q2 25 | $5.9M | — | ||
| Q1 25 | $-2.8M | — | ||
| Q4 24 | $23.4M | — | ||
| Q3 24 | $-5.0M | — | ||
| Q2 24 | $3.2M | — | ||
| Q1 24 | $14.1M | — |
毛利率AHHRMR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 45.0% | — | ||
| Q2 24 | 41.8% | — | ||
| Q1 24 | 37.9% | — |
营业利润率AHHRMR
| Q4 25 | 31.0% | 48.1% | ||
| Q3 25 | 29.2% | — | ||
| Q2 25 | 29.6% | — | ||
| Q1 25 | 23.2% | — | ||
| Q4 24 | 50.1% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 11.9% | — | ||
| Q1 24 | 15.1% | — |
净利率AHHRMR
| Q4 25 | 3.1% | 18.3% | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 8.6% | — | ||
| Q1 25 | -4.1% | — | ||
| Q4 24 | 31.2% | — | ||
| Q3 24 | -4.4% | — | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | 11.1% | — |
每股收益（稀释后）AHHRMR
| Q4 25 | $0.00 | $0.71 | ||
| Q3 25 | $-0.04 | — | ||
| Q2 25 | $0.04 | — | ||
| Q1 25 | $-0.07 | — | ||
| Q4 24 | $0.28 | — | ||
| Q3 24 | $-0.11 | — | ||
| Q2 24 | $0.00 | — | ||
| Q1 24 | $0.17 | — |
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 | $49.1M | $49.3M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $627.8M | $232.7M |
| 总资产 | $2.6B | $687.1M |
| 负债/权益比越低杠杆越低 | 2.43× | — |
8季度趋势，按日历期对齐
现金及短期投资AHHRMR
| Q4 25 | $49.1M | $49.3M | ||
| Q3 25 | $46.5M | — | ||
| Q2 25 | $52.1M | — | ||
| Q1 25 | $45.7M | — | ||
| Q4 24 | $31.9M | — | ||
| Q3 24 | $43.9M | — | ||
| Q2 24 | $20.3M | — | ||
| Q1 24 | $41.9M | — |
总债务AHHRMR
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
股东权益AHHRMR
| Q4 25 | $627.8M | $232.7M | ||
| Q3 25 | $638.8M | — | ||
| Q2 25 | $652.0M | — | ||
| Q1 25 | $657.4M | — | ||
| Q4 24 | $670.6M | — | ||
| Q3 24 | $663.9M | — | ||
| Q2 24 | $562.7M | — | ||
| Q1 24 | $571.4M | — |
总资产AHHRMR
| Q4 25 | $2.6B | $687.1M | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.5B | — | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $2.6B | — | ||
| Q1 24 | $2.6B | — |
负债/权益比AHHRMR
| Q4 25 | 2.43× | — | ||
| Q3 25 | 2.33× | — | ||
| Q2 25 | 2.22× | — | ||
| Q1 25 | 2.01× | — | ||
| Q4 24 | 1.93× | — | ||
| Q3 24 | 2.00× | — | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 2.50× | — |
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 | $64.2M | $10.7M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 26.99× | 0.88× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流AHHRMR
| Q4 25 | $64.2M | $10.7M | ||
| Q3 25 | $26.3M | — | ||
| Q2 25 | $11.1M | — | ||
| Q1 25 | $107.0K | — | ||
| Q4 24 | $112.0M | — | ||
| Q3 24 | $27.3M | — | ||
| Q2 24 | $17.4M | — | ||
| Q1 24 | $46.5M | — |
现金转化率AHHRMR
| Q4 25 | 26.99× | 0.88× | ||
| Q3 25 | 328.63× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.78× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.48× | — | ||
| Q1 24 | 3.30× | — |
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
AHH
| Office Real Estate Segment | $28.8M | 38% |
| Retail Real Estate Segment | $25.4M | 34% |
| Multifamily Residential Real Estate | $17.7M | 23% |
| Real Estate Financing Segment | $3.6M | 5% |
RMR
| Management Service Incentive | $23.6M | 35% |
| Industrial Logistics Properties Trust | $15.1M | 23% |
| Managed Private Real Estate Capital | $11.1M | 17% |
| Office Properties Income Trust | $5.6M | 8% |
| Other Private Entities | $5.3M | 8% |
| RMR Residential | $3.4M | 5% |
| Sonesta International Hotels Corporation | $2.1M | 3% |
| Investment Advisory Management And Administrative Service | $1.2M | 2% |
