vs
Artisan Partners Asset Management Inc.（APAM）与Real Brokerage Inc（REAX）财务数据对比。点击上方公司名可切换其他公司
Real Brokerage Inc的季度营收约是Artisan Partners Asset Management Inc.的1.7倍（$568.5M vs $335.5M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs -0.1%，领先35.3%），Real Brokerage Inc同比增速更快（52.6% vs 12.9%），Artisan Partners Asset Management Inc.自由现金流更多（$171.6M vs $8.4M）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
该企业是美国房产服务企业，主营房产经纪业务运营与品牌特许经营，业务覆盖房产中介、 relocation服务、产权服务、保险及结算服务，旗下拥有Better Homes and Gardens Real Estate、21世纪不动产、Coldwell Banker、Corcoran Group、ERA房地产以及苏富比国际地产等多个知名品牌，2026年被Compass, Inc.收购。
APAM vs REAX — 直观对比
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $568.5M |
| 净利润 | $118.1M | $-447.0K |
| 毛利率 | — | 7.9% |
| 营业利润率 | 39.2% | -0.1% |
| 净利率 | 35.2% | -0.1% |
| 营收同比 | 12.9% | 52.6% |
| 净利润同比 | 34.9% | 82.7% |
| 每股收益（稀释后） | $1.36 | $0.00 |
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
| Q4 25 | $335.5M | — | ||
| Q3 25 | $301.3M | $568.5M | ||
| Q2 25 | $282.7M | $540.7M | ||
| Q1 25 | $277.1M | $354.0M | ||
| Q4 24 | $297.1M | — | ||
| Q3 24 | $279.6M | $372.5M | ||
| Q2 24 | $270.8M | — | ||
| Q1 24 | $264.4M | $200.7M |
| Q4 25 | $118.1M | — | ||
| Q3 25 | $66.8M | $-447.0K | ||
| Q2 25 | $67.6M | $1.5M | ||
| Q1 25 | $61.1M | $-5.0M | ||
| Q4 24 | $87.5M | — | ||
| Q3 24 | $73.0M | $-2.6M | ||
| Q2 24 | $57.6M | — | ||
| Q1 24 | $59.5M | $-16.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | 7.9% | ||
| Q2 25 | — | 8.9% | ||
| Q1 25 | — | 9.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 8.6% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 10.3% |
| Q4 25 | 39.2% | — | ||
| Q3 25 | 33.8% | -0.1% | ||
| Q2 25 | 28.2% | 0.3% | ||
| Q1 25 | 31.2% | -1.5% | ||
| Q4 24 | 36.7% | — | ||
| Q3 24 | 33.3% | -0.7% | ||
| Q2 24 | 32.0% | — | ||
| Q1 24 | 29.4% | -7.8% |
| Q4 25 | 35.2% | — | ||
| Q3 25 | 22.2% | -0.1% | ||
| Q2 25 | 23.9% | 0.3% | ||
| Q1 25 | 22.1% | -1.4% | ||
| Q4 24 | 29.5% | — | ||
| Q3 24 | 26.1% | -0.7% | ||
| Q2 24 | 21.3% | — | ||
| Q1 24 | 22.5% | -8.0% |
| Q4 25 | $1.36 | — | ||
| Q3 25 | $0.93 | $0.00 | ||
| Q2 25 | $0.94 | $0.01 | ||
| Q1 25 | $0.82 | $-0.02 | ||
| Q4 24 | $0.99 | — | ||
| Q3 24 | $1.03 | $-0.01 | ||
| Q2 24 | $0.80 | — | ||
| Q1 24 | $0.84 | $-0.09 |
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 | — | $38.7M |
| 总债务越低越好 | $190.0M | — |
| 股东权益账面价值 | $438.8M | $53.6M |
| 总资产 | $1.6B | $145.2M |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
| Q4 25 | — | — | ||
| Q3 25 | — | $38.7M | ||
| Q2 25 | — | $49.7M | ||
| Q1 25 | — | $24.7M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $22.6M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $20.1M |
| Q4 25 | $190.0M | — | ||
| Q3 25 | $190.0M | — | ||
| Q2 25 | $200.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q4 24 | $200.0M | — | ||
| Q3 24 | $200.0M | — | ||
| Q2 24 | $200.0M | — | ||
| Q1 24 | $200.0M | — |
| Q4 25 | $438.8M | — | ||
| Q3 25 | $402.1M | $53.6M | ||
| Q2 25 | $381.8M | $49.2M | ||
| Q1 25 | $356.5M | $32.8M | ||
| Q4 24 | $388.9M | — | ||
| Q3 24 | $372.1M | $29.8M | ||
| Q2 24 | $341.2M | — | ||
| Q1 24 | $320.3M | $25.6M |
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.6B | $145.2M | ||
| Q2 25 | $1.4B | $149.4M | ||
| Q1 25 | $1.4B | $100.5M | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.6B | $102.5M | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.62× | — |
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 | $172.0M | $8.8M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | $8.4M |
| 自由现金流率自由现金流/营收 | 51.2% | 1.5% |
| 资本支出强度资本支出/营收 | 0.1% | 0.1% |
| 现金转化率经营现金流/净利润 | 1.46× | — |
| 过去12个月自由现金流最近4个季度 | $420.6M | $71.7M |
8季度趋势，按日历期对齐
| Q4 25 | $172.0M | — | ||
| Q3 25 | $40.4M | $8.8M | ||
| Q2 25 | $50.9M | $41.0M | ||
| Q1 25 | $157.9M | $15.9M | ||
| Q4 24 | $372.8M | — | ||
| Q3 24 | $112.8M | $7.2M | ||
| Q2 24 | $75.9M | — | ||
| Q1 24 | $147.0M | $21.5M |
| Q4 25 | $171.6M | — | ||
| Q3 25 | $40.4M | $8.4M | ||
| Q2 25 | $50.9M | $40.8M | ||
| Q1 25 | $157.7M | $15.7M | ||
| Q4 24 | $371.3M | — | ||
| Q3 24 | $112.4M | $6.8M | ||
| Q2 24 | $75.2M | — | ||
| Q1 24 | $146.9M | $21.4M |
| Q4 25 | 51.2% | — | ||
| Q3 25 | 13.4% | 1.5% | ||
| Q2 25 | 18.0% | 7.5% | ||
| Q1 25 | 56.9% | 4.4% | ||
| Q4 24 | 125.0% | — | ||
| Q3 24 | 40.2% | 1.8% | ||
| Q2 24 | 27.8% | — | ||
| Q1 24 | 55.6% | 10.7% |
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | 0.0% | 0.0% | ||
| Q1 25 | 0.1% | 0.1% | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.1% | 0.1% | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.0% | 0.0% |
| Q4 25 | 1.46× | — | ||
| Q3 25 | 0.60× | — | ||
| Q2 25 | 0.75× | 27.13× | ||
| Q1 25 | 2.58× | — | ||
| Q4 24 | 4.26× | — | ||
| Q3 24 | 1.54× | — | ||
| Q2 24 | 1.32× | — | ||
| Q1 24 | 2.47× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
