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ASPEN AEROGELS INC（ASPN）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ASPEN AEROGELS INC的1.7倍（$71.1M vs $41.3M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -176.4%，领先178.4%），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -66.4%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $13.7M），过去两年RE/MAX Holdings, Inc.的营收复合增速更高（-4.7% vs -33.9%）
Aspen Aerogels Inc是全球领先的气凝胶基高性能隔热及热管理材料生产商，产品广泛应用于可再生能源、油气基础设施、航空航天、商业建筑与工业制造领域，核心市场覆盖北美、欧洲及亚太地区，旗下材料以优异的耐热性、防火性能和轻量化特性广受客户认可。
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。
ASPN vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.7倍
$41.3M
营收增速更快
RMAX
高出64.6%
-66.4%
净利率更高
RMAX
高出178.4%
-176.4%
自由现金流更多
RMAX
多$19.8M
$13.7M
两年增速更快
RMAX
近两年复合增速
-33.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $41.3M | $71.1M |
| 净利润 | $-72.9M | $1.4M |
| 毛利率 | -55.5% | — |
| 营业利润率 | -170.3% | 13.1% |
| 净利率 | -176.4% | 2.0% |
| 营收同比 | -66.4% | -1.8% |
| 净利润同比 | -741.7% | -75.2% |
| 每股收益（稀释后） | $-0.87 | — |
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ASPNRMAX
| Q4 25 | $41.3M | $71.1M | ||
| Q3 25 | $73.0M | $73.2M | ||
| Q2 25 | $78.0M | $72.8M | ||
| Q1 25 | $78.7M | $74.5M | ||
| Q4 24 | $123.1M | $72.5M | ||
| Q3 24 | $117.3M | $78.5M | ||
| Q2 24 | $117.8M | $78.5M | ||
| Q1 24 | $94.5M | $78.3M |
净利润ASPNRMAX
| Q4 25 | $-72.9M | $1.4M | ||
| Q3 25 | $-6.3M | $4.0M | ||
| Q2 25 | $-9.1M | $4.7M | ||
| Q1 25 | $-301.2M | $-2.0M | ||
| Q4 24 | $11.4M | $5.8M | ||
| Q3 24 | $-13.0M | $966.0K | ||
| Q2 24 | $16.8M | $3.7M | ||
| Q1 24 | $-1.8M | $-3.4M |
毛利率ASPNRMAX
| Q4 25 | -55.5% | — | ||
| Q3 25 | 28.5% | — | ||
| Q2 25 | 32.4% | — | ||
| Q1 25 | 29.0% | — | ||
| Q4 24 | 38.3% | — | ||
| Q3 24 | 41.8% | — | ||
| Q2 24 | 43.8% | — | ||
| Q1 24 | 37.2% | — |
营业利润率ASPNRMAX
| Q4 25 | -170.3% | 13.1% | ||
| Q3 25 | -4.6% | 25.0% | ||
| Q2 25 | -6.6% | 19.3% | ||
| Q1 25 | -380.2% | 7.2% | ||
| Q4 24 | 12.0% | 5.9% | ||
| Q3 24 | 14.8% | 19.4% | ||
| Q2 24 | 17.0% | 20.6% | ||
| Q1 24 | 2.6% | 5.8% |
净利率ASPNRMAX
| Q4 25 | -176.4% | 2.0% | ||
| Q3 25 | -8.7% | 5.4% | ||
| Q2 25 | -11.6% | 6.4% | ||
| Q1 25 | -382.7% | -2.6% | ||
| Q4 24 | 9.2% | 8.0% | ||
| Q3 24 | -11.1% | 1.2% | ||
| Q2 24 | 14.3% | 4.7% | ||
| Q1 24 | -1.9% | -4.3% |
每股收益（稀释后）ASPNRMAX
| Q4 25 | $-0.87 | — | ||
| Q3 25 | $-0.08 | — | ||
| Q2 25 | $-0.11 | — | ||
| Q1 25 | $-3.67 | — | ||
| Q4 24 | $0.15 | — | ||
| Q3 24 | $-0.17 | — | ||
| Q2 24 | $0.21 | — | ||
| Q1 24 | $-0.02 | — |
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 | $156.9M | $118.7M |
| 总债务越低越好 | $65.5M | $432.2M |
| 股东权益账面价值 | $235.5M | $452.4M |
| 总资产 | $406.7M | $582.5M |
| 负债/权益比越低杠杆越低 | 0.28× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资ASPNRMAX
| Q4 25 | $156.9M | $118.7M | ||
| Q3 25 | $150.7M | $107.5M | ||
| Q2 25 | $167.6M | $94.3M | ||
| Q1 25 | $192.0M | $89.1M | ||
| Q4 24 | $220.9M | $96.6M | ||
| Q3 24 | $113.5M | $83.8M | ||
| Q2 24 | $91.4M | $66.1M | ||
| Q1 24 | $101.5M | $82.1M |
总债务ASPNRMAX
| Q4 25 | $65.5M | $432.2M | ||
| Q3 25 | $70.1M | $433.3M | ||
| Q2 25 | $77.3M | $434.4M | ||
| Q1 25 | $95.4M | $435.3M | ||
| Q4 24 | $95.0M | $436.2M | ||
| Q3 24 | $93.7M | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
股东权益ASPNRMAX
| Q4 25 | $235.5M | $452.4M | ||
| Q3 25 | $305.7M | $448.1M | ||
| Q2 25 | $308.8M | $442.4M | ||
| Q1 25 | $314.8M | $433.5M | ||
| Q4 24 | $614.7M | $429.5M | ||
| Q3 24 | $507.6M | $423.1M | ||
| Q2 24 | $517.8M | $418.4M | ||
| Q1 24 | $491.2M | $412.0M |
总资产ASPNRMAX
| Q4 25 | $406.7M | $582.5M | ||
| Q3 25 | $491.4M | $582.2M | ||
| Q2 25 | $525.1M | $574.8M | ||
| Q1 25 | $555.0M | $571.4M | ||
| Q4 24 | $895.1M | $581.6M | ||
| Q3 24 | $782.6M | $578.6M | ||
| Q2 24 | $748.6M | $571.4M | ||
| Q1 24 | $698.0M | $566.7M |
负债/权益比ASPNRMAX
| Q4 25 | 0.28× | 0.96× | ||
| Q3 25 | 0.23× | 0.97× | ||
| Q2 25 | 0.25× | 0.98× | ||
| Q1 25 | 0.30× | 1.00× | ||
| Q4 24 | 0.15× | 1.02× | ||
| Q3 24 | 0.18× | 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 | $16.1M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $13.7M | $33.5M |
| 自由现金流率自由现金流/营收 | 33.1% | 47.1% |
| 资本支出强度资本支出/营收 | 6.0% | 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 | $-4.6M | $56.8M |
8季度趋势，按日历期对齐
经营现金流ASPNRMAX
| Q4 25 | $16.1M | $40.9M | ||
| Q3 25 | $15.0M | $17.7M | ||
| Q2 25 | $-3.9M | $4.6M | ||
| Q1 25 | $5.6M | $5.7M | ||
| Q4 24 | $35.7M | $59.7M | ||
| Q3 24 | $20.8M | $17.6M | ||
| Q2 24 | $6.8M | $15.9M | ||
| Q1 24 | $-17.7M | $9.4M |
自由现金流ASPNRMAX
| Q4 25 | $13.7M | $33.5M | ||
| Q3 25 | $5.9M | $16.4M | ||
| Q2 25 | $-16.8M | $2.9M | ||
| Q1 25 | $-7.4M | $4.0M | ||
| Q4 24 | $20.9M | $53.0M | ||
| Q3 24 | $-50.0K | $16.3M | ||
| Q2 24 | $-18.0M | $14.0M | ||
| Q1 24 | $-43.6M | $6.8M |
自由现金流率ASPNRMAX
| Q4 25 | 33.1% | 47.1% | ||
| Q3 25 | 8.1% | 22.4% | ||
| Q2 25 | -21.6% | 4.0% | ||
| Q1 25 | -9.4% | 5.3% | ||
| Q4 24 | 17.0% | 73.2% | ||
| Q3 24 | -0.0% | 20.8% | ||
| Q2 24 | -15.3% | 17.8% | ||
| Q1 24 | -46.1% | 8.6% |
资本支出强度ASPNRMAX
| Q4 25 | 6.0% | 10.4% | ||
| Q3 25 | 12.5% | 1.8% | ||
| Q2 25 | 16.5% | 2.2% | ||
| Q1 25 | 16.5% | 2.3% | ||
| Q4 24 | 12.0% | 9.1% | ||
| Q3 24 | 17.7% | 1.7% | ||
| Q2 24 | 21.1% | 2.4% | ||
| Q1 24 | 27.4% | 3.3% |
现金转化率ASPNRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.14× | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | 0.41× | 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
ASPN
| Energy Industrial | $14.5M | 35% |
| Other | $13.9M | 34% |
| Thermal Barrier | $12.9M | 31% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
