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AvePoint（AVPT）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
AvePoint的季度营收约是RE/MAX Holdings, Inc.的1.6倍（$114.7M vs $71.1M），AvePoint净利率更高（13.6% vs 2.0%，领先11.6%），AvePoint同比增速更快（28.6% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $29.0M），过去两年AvePoint的营收复合增速更高（24.0% vs -4.7%）
AvePoint是一家总部位于美国新泽西州泽西市的企业，成立于2001年，2020年在纳斯达克上市。公司专注于开发软件产品，为Microsoft 365、谷歌、Salesforce等主流平台提供功能拓展与安全增强解决方案，服务全球各行业客户的数字化协作与数据治理需求。
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。
AVPT vs RMAX — 直观对比
营收规模更大
AVPT
是对方的1.6倍
$71.1M
营收增速更快
AVPT
高出30.4%
-1.8%
净利率更高
AVPT
高出11.6%
2.0%
自由现金流更多
RMAX
多$4.5M
$29.0M
两年增速更快
AVPT
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $114.7M | $71.1M |
| 净利润 | $15.6M | $1.4M |
| 毛利率 | 73.6% | — |
| 营业利润率 | 12.7% | 13.1% |
| 净利率 | 13.6% | 2.0% |
| 营收同比 | 28.6% | -1.8% |
| 净利润同比 | 191.1% | -75.2% |
| 每股收益（稀释后） | $0.06 | — |
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AVPTRMAX
| Q4 25 | $114.7M | $71.1M | ||
| Q3 25 | $109.7M | $73.2M | ||
| Q2 25 | $102.0M | $72.8M | ||
| Q1 25 | $93.1M | $74.5M | ||
| Q4 24 | $89.2M | $72.5M | ||
| Q3 24 | $88.8M | $78.5M | ||
| Q2 24 | $78.0M | $78.5M | ||
| Q1 24 | $74.5M | $78.3M |
净利润AVPTRMAX
| Q4 25 | $15.6M | $1.4M | ||
| Q3 25 | $13.0M | $4.0M | ||
| Q2 25 | $2.9M | $4.7M | ||
| Q1 25 | $3.6M | $-2.0M | ||
| Q4 24 | $-17.2M | $5.8M | ||
| Q3 24 | $2.6M | $966.0K | ||
| Q2 24 | $-12.9M | $3.7M | ||
| Q1 24 | $-2.0M | $-3.4M |
毛利率AVPTRMAX
| Q4 25 | 73.6% | — | ||
| Q3 25 | 74.4% | — | ||
| Q2 25 | 74.0% | — | ||
| Q1 25 | 74.3% | — | ||
| Q4 24 | 75.4% | — | ||
| Q3 24 | 76.1% | — | ||
| Q2 24 | 75.7% | — | ||
| Q1 24 | 72.6% | — |
营业利润率AVPTRMAX
| Q4 25 | 12.7% | 13.1% | ||
| Q3 25 | 7.4% | 25.0% | ||
| Q2 25 | 7.0% | 19.3% | ||
| Q1 25 | 3.5% | 7.2% | ||
| Q4 24 | 5.4% | 5.9% | ||
| Q3 24 | 8.6% | 19.4% | ||
| Q2 24 | -2.7% | 20.6% | ||
| Q1 24 | -4.3% | 5.8% |
净利率AVPTRMAX
| Q4 25 | 13.6% | 2.0% | ||
| Q3 25 | 11.9% | 5.4% | ||
| Q2 25 | 2.8% | 6.4% | ||
| Q1 25 | 3.8% | -2.6% | ||
| Q4 24 | -19.3% | 8.0% | ||
| Q3 24 | 3.0% | 1.2% | ||
| Q2 24 | -16.6% | 4.7% | ||
| Q1 24 | -2.6% | -4.3% |
每股收益（稀释后）AVPTRMAX
| Q4 25 | $0.06 | — | ||
| Q3 25 | $0.06 | — | ||
| Q2 25 | $0.01 | — | ||
| Q1 25 | $0.02 | — | ||
| Q4 24 | $-0.09 | — | ||
| Q3 24 | $0.01 | — | ||
| Q2 24 | $-0.07 | — | ||
| Q1 24 | $-0.01 | — |
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 | $481.1M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $478.7M | $452.4M |
| 总资产 | $789.2M | $582.5M |
| 负债/权益比越低杠杆越低 | — | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资AVPTRMAX
| Q4 25 | $481.1M | $118.7M | ||
| Q3 25 | $471.6M | $107.5M | ||
| Q2 25 | $430.1M | $94.3M | ||
| Q1 25 | $351.8M | $89.1M | ||
| Q4 24 | $290.9M | $96.6M | ||
| Q3 24 | $250.0M | $83.8M | ||
| Q2 24 | $230.8M | $66.1M | ||
| Q1 24 | $219.3M | $82.1M |
总债务AVPTRMAX
| Q4 25 | — | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | — | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
股东权益AVPTRMAX
| Q4 25 | $478.7M | $452.4M | ||
| Q3 25 | $466.8M | $448.1M | ||
| Q2 25 | $443.1M | $442.4M | ||
| Q1 25 | $361.5M | $433.5M | ||
| Q4 24 | $270.9M | $429.5M | ||
| Q3 24 | $215.7M | $423.1M | ||
| Q2 24 | $207.4M | $418.4M | ||
| Q1 24 | $212.7M | $412.0M |
总资产AVPTRMAX
| Q4 25 | $789.2M | $582.5M | ||
| Q3 25 | $743.5M | $582.2M | ||
| Q2 25 | $700.1M | $574.8M | ||
| Q1 25 | $598.8M | $571.4M | ||
| Q4 24 | $519.1M | $581.6M | ||
| Q3 24 | $463.0M | $578.6M | ||
| Q2 24 | $427.3M | $571.4M | ||
| Q1 24 | $413.8M | $566.7M |
负债/权益比AVPTRMAX
| Q4 25 | — | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | — | 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 | $29.7M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $29.0M | $33.5M |
| 自由现金流率自由现金流/营收 | 25.3% | 47.1% |
| 资本支出强度资本支出/营收 | 0.6% | 10.4% |
| 现金转化率经营现金流/净利润 | 1.90× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $81.6M | $56.8M |
8季度趋势，按日历期对齐
经营现金流AVPTRMAX
| Q4 25 | $29.7M | $40.9M | ||
| Q3 25 | $34.8M | $17.7M | ||
| Q2 25 | $20.3M | $4.6M | ||
| Q1 25 | $495.0K | $5.7M | ||
| Q4 24 | $32.8M | $59.7M | ||
| Q3 24 | $32.2M | $17.6M | ||
| Q2 24 | $16.2M | $15.9M | ||
| Q1 24 | $7.8M | $9.4M |
自由现金流AVPTRMAX
| Q4 25 | $29.0M | $33.5M | ||
| Q3 25 | $34.3M | $16.4M | ||
| Q2 25 | $19.3M | $2.9M | ||
| Q1 25 | $-1.0M | $4.0M | ||
| Q4 24 | $32.0M | $53.0M | ||
| Q3 24 | $30.8M | $16.3M | ||
| Q2 24 | $15.8M | $14.0M | ||
| Q1 24 | $7.3M | $6.8M |
自由现金流率AVPTRMAX
| Q4 25 | 25.3% | 47.1% | ||
| Q3 25 | 31.3% | 22.4% | ||
| Q2 25 | 18.9% | 4.0% | ||
| Q1 25 | -1.1% | 5.3% | ||
| Q4 24 | 35.9% | 73.2% | ||
| Q3 24 | 34.7% | 20.8% | ||
| Q2 24 | 20.2% | 17.8% | ||
| Q1 24 | 9.7% | 8.6% |
资本支出强度AVPTRMAX
| Q4 25 | 0.6% | 10.4% | ||
| Q3 25 | 0.5% | 1.8% | ||
| Q2 25 | 0.9% | 2.2% | ||
| Q1 25 | 1.6% | 2.3% | ||
| Q4 24 | 0.8% | 9.1% | ||
| Q3 24 | 1.6% | 1.7% | ||
| Q2 24 | 0.5% | 2.4% | ||
| Q1 24 | 0.7% | 3.3% |
现金转化率AVPTRMAX
| Q4 25 | 1.90× | 28.39× | ||
| Q3 25 | 2.68× | 4.45× | ||
| Q2 25 | 7.01× | 0.97× | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | 12.30× | 18.22× | ||
| Q2 24 | — | 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
AVPT
| SAAS | $88.9M | 78% |
| Services | $14.7M | 13% |
| Termed License And Support | $10.1M | 9% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
