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Alexander & Baldwin, Inc.（ALEX）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Alexander & Baldwin, Inc.的1.4倍（$71.1M vs $51.0M），Alexander & Baldwin, Inc.净利率更高（7.4% vs 2.0%，领先5.4%），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -18.4%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $27.3M），过去两年RE/MAX Holdings, Inc.的营收复合增速更高（-4.7% vs -8.7%）
亚历山大-鲍德温公司是一家美国企业，曾是夏威夷领地时期五大财团之一，也是五大财团中最晚停止甘蔗种植的企业。目前公司主营房地产开发、土地运营以及建材与建筑业务，截至2020年，该公司是夏威夷最大的私人土地持有者之一，在当地拥有超2.8万英亩土地，运营着36处收益性物业。
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。
ALEX vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.4倍
$51.0M
营收增速更快
RMAX
高出16.5%
-18.4%
净利率更高
ALEX
高出5.4%
2.0%
自由现金流更多
RMAX
多$6.2M
$27.3M
两年增速更快
RMAX
近两年复合增速
-8.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $51.0M | $71.1M |
| 净利润 | $3.8M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | 17.1% | 13.1% |
| 净利率 | 7.4% | 2.0% |
| 营收同比 | -18.4% | -1.8% |
| 净利润同比 | -69.7% | -75.2% |
| 每股收益（稀释后） | $0.05 | — |
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ALEXRMAX
| Q4 25 | $51.0M | $71.1M | ||
| Q3 25 | $50.2M | $73.2M | ||
| Q2 25 | $51.7M | $72.8M | ||
| Q1 25 | $53.7M | $74.5M | ||
| Q4 24 | $62.4M | $72.5M | ||
| Q3 24 | $61.9M | $78.5M | ||
| Q2 24 | $51.0M | $78.5M | ||
| Q1 24 | $61.2M | $78.3M |
净利润ALEXRMAX
| Q4 25 | $3.8M | $1.4M | ||
| Q3 25 | $14.3M | $4.0M | ||
| Q2 25 | $25.1M | $4.7M | ||
| Q1 25 | $21.4M | $-2.0M | ||
| Q4 24 | $12.4M | $5.8M | ||
| Q3 24 | $19.0M | $966.0K | ||
| Q2 24 | $9.1M | $3.7M | ||
| Q1 24 | $20.0M | $-3.4M |
营业利润率ALEXRMAX
| Q4 25 | 17.1% | 13.1% | ||
| Q3 25 | 38.2% | 25.0% | ||
| Q2 25 | 54.4% | 19.3% | ||
| Q1 25 | 44.6% | 7.2% | ||
| Q4 24 | 28.3% | 5.9% | ||
| Q3 24 | 35.6% | 19.4% | ||
| Q2 24 | 31.8% | 20.6% | ||
| Q1 24 | 38.9% | 5.8% |
净利率ALEXRMAX
| Q4 25 | 7.4% | 2.0% | ||
| Q3 25 | 28.5% | 5.4% | ||
| Q2 25 | 48.6% | 6.4% | ||
| Q1 25 | 39.9% | -2.6% | ||
| Q4 24 | 19.9% | 8.0% | ||
| Q3 24 | 30.7% | 1.2% | ||
| Q2 24 | 17.8% | 4.7% | ||
| Q1 24 | 32.6% | -4.3% |
每股收益（稀释后）ALEXRMAX
| Q4 25 | $0.05 | — | ||
| Q3 25 | $0.20 | — | ||
| Q2 25 | $0.35 | — | ||
| Q1 25 | $0.29 | — | ||
| Q4 24 | $0.16 | — | ||
| Q3 24 | $0.26 | — | ||
| Q2 24 | $0.13 | — | ||
| Q1 24 | $0.28 | — |
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 | $11.3M | $118.7M |
| 总债务越低越好 | $491.6M | $432.2M |
| 股东权益账面价值 | $987.2M | $452.4M |
| 总资产 | $1.7B | $582.5M |
| 负债/权益比越低杠杆越低 | 0.50× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资ALEXRMAX
| Q4 25 | $11.3M | $118.7M | ||
| Q3 25 | $17.3M | $107.5M | ||
| Q2 25 | $8.6M | $94.3M | ||
| Q1 25 | $16.9M | $89.1M | ||
| Q4 24 | $33.4M | $96.6M | ||
| Q3 24 | $17.9M | $83.8M | ||
| Q2 24 | $29.5M | $66.1M | ||
| Q1 24 | $15.7M | $82.1M |
总债务ALEXRMAX
| Q4 25 | $491.6M | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | $474.8M | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
股东权益ALEXRMAX
| Q4 25 | $987.2M | $452.4M | ||
| Q3 25 | $1.0B | $448.1M | ||
| Q2 25 | $1.0B | $442.4M | ||
| Q1 25 | $1.0B | $433.5M | ||
| Q4 24 | $1.0B | $429.5M | ||
| Q3 24 | $998.2M | $423.1M | ||
| Q2 24 | $1.0B | $418.4M | ||
| Q1 24 | $1.0B | $412.0M |
总资产ALEXRMAX
| Q4 25 | $1.7B | $582.5M | ||
| Q3 25 | $1.7B | $582.2M | ||
| Q2 25 | $1.6B | $574.8M | ||
| Q1 25 | $1.6B | $571.4M | ||
| Q4 24 | $1.7B | $581.6M | ||
| Q3 24 | $1.7B | $578.6M | ||
| Q2 24 | $1.6B | $571.4M | ||
| Q1 24 | $1.6B | $566.7M |
负债/权益比ALEXRMAX
| Q4 25 | 0.50× | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | 0.47× | 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 | $79.5M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $27.3M | $33.5M |
| 自由现金流率自由现金流/营收 | 53.5% | 47.1% |
| 资本支出强度资本支出/营收 | 102.4% | 10.4% |
| 现金转化率经营现金流/净利润 | 21.06× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $57.2M | $56.8M |
8季度趋势，按日历期对齐
经营现金流ALEXRMAX
| Q4 25 | $79.5M | $40.9M | ||
| Q3 25 | $24.5M | $17.7M | ||
| Q2 25 | $16.5M | $4.6M | ||
| Q1 25 | $26.0M | $5.7M | ||
| Q4 24 | $98.0M | $59.7M | ||
| Q3 24 | $35.3M | $17.6M | ||
| Q2 24 | $22.3M | $15.9M | ||
| Q1 24 | $16.1M | $9.4M |
自由现金流ALEXRMAX
| Q4 25 | $27.3M | $33.5M | ||
| Q3 25 | $-3.7M | $16.4M | ||
| Q2 25 | $11.8M | $2.9M | ||
| Q1 25 | $21.8M | $4.0M | ||
| Q4 24 | $77.0M | $53.0M | ||
| Q3 24 | $31.4M | $16.3M | ||
| Q2 24 | $18.0M | $14.0M | ||
| Q1 24 | $12.3M | $6.8M |
自由现金流率ALEXRMAX
| Q4 25 | 53.5% | 47.1% | ||
| Q3 25 | -7.4% | 22.4% | ||
| Q2 25 | 22.8% | 4.0% | ||
| Q1 25 | 40.6% | 5.3% | ||
| Q4 24 | 123.4% | 73.2% | ||
| Q3 24 | 50.8% | 20.8% | ||
| Q2 24 | 35.3% | 17.8% | ||
| Q1 24 | 20.1% | 8.6% |
资本支出强度ALEXRMAX
| Q4 25 | 102.4% | 10.4% | ||
| Q3 25 | 56.1% | 1.8% | ||
| Q2 25 | 9.1% | 2.2% | ||
| Q1 25 | 7.8% | 2.3% | ||
| Q4 24 | 33.5% | 9.1% | ||
| Q3 24 | 6.2% | 1.7% | ||
| Q2 24 | 8.4% | 2.4% | ||
| Q1 24 | 6.1% | 3.3% |
现金转化率ALEXRMAX
| Q4 25 | 21.06× | 28.39× | ||
| Q3 25 | 1.71× | 4.45× | ||
| Q2 25 | 0.66× | 0.97× | ||
| Q1 25 | 1.21× | — | ||
| Q4 24 | 7.88× | 10.28× | ||
| Q3 24 | 1.86× | 18.22× | ||
| Q2 24 | 2.45× | 4.29× | ||
| Q1 24 | 0.80× | — |
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
ALEX
暂无分部数据
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
