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Bank First Corp（BFC）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Bank First Corp的1.6倍（$71.1M vs $44.9M），Bank First Corp净利率更高（45.8% vs 2.0%，领先43.8%），Bank First Corp同比增速更快（12.1% vs -1.8%），Bank First Corp自由现金流更多（$51.0M vs $33.5M），过去两年Bank First Corp的营收复合增速更高（9.1% vs -4.7%）
First Horizon Corporation（前身为田纳西第一银行）是一家成立于1864年、总部位于美国田纳西州孟菲斯的金融服务企业。通过旗下子公司First Horizon银行，其业务覆盖美国东南部12个州，是该区域第四大区域性银行。
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。
BFC vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.6倍
$44.9M
营收增速更快
BFC
高出13.9%
-1.8%
净利率更高
BFC
高出43.8%
2.0%
自由现金流更多
BFC
多$17.5M
$33.5M
两年增速更快
BFC
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $44.9M | $71.1M |
| 净利润 | $18.4M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | 51.0% | 13.1% |
| 净利率 | 45.8% | 2.0% |
| 营收同比 | 12.1% | -1.8% |
| 净利润同比 | 4.8% | -75.2% |
| 每股收益（稀释后） | $1.87 | — |
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BFCRMAX
| Q4 25 | $44.9M | $71.1M | ||
| Q3 25 | $44.2M | $73.2M | ||
| Q2 25 | $41.6M | $72.8M | ||
| Q1 25 | $43.1M | $74.5M | ||
| Q4 24 | $40.1M | $72.5M | ||
| Q3 24 | $40.8M | $78.5M | ||
| Q2 24 | $38.9M | $78.5M | ||
| Q1 24 | $37.7M | $78.3M |
净利润BFCRMAX
| Q4 25 | $18.4M | $1.4M | ||
| Q3 25 | $18.0M | $4.0M | ||
| Q2 25 | $16.9M | $4.7M | ||
| Q1 25 | $18.2M | $-2.0M | ||
| Q4 24 | $17.5M | $5.8M | ||
| Q3 24 | $16.6M | $966.0K | ||
| Q2 24 | $16.1M | $3.7M | ||
| Q1 24 | $15.4M | $-3.4M |
营业利润率BFCRMAX
| Q4 25 | 51.0% | 13.1% | ||
| Q3 25 | 50.8% | 25.0% | ||
| Q2 25 | 49.7% | 19.3% | ||
| Q1 25 | 51.3% | 7.2% | ||
| Q4 24 | 54.4% | 5.9% | ||
| Q3 24 | 50.7% | 19.4% | ||
| Q2 24 | 51.0% | 20.6% | ||
| Q1 24 | 45.6% | 5.8% |
净利率BFCRMAX
| Q4 25 | 45.8% | 2.0% | ||
| Q3 25 | 40.7% | 5.4% | ||
| Q2 25 | 40.5% | 6.4% | ||
| Q1 25 | 42.3% | -2.6% | ||
| Q4 24 | 49.3% | 8.0% | ||
| Q3 24 | 40.6% | 1.2% | ||
| Q2 24 | 41.3% | 4.7% | ||
| Q1 24 | 40.8% | -4.3% |
每股收益（稀释后）BFCRMAX
| Q4 25 | $1.87 | — | ||
| Q3 25 | $1.83 | — | ||
| Q2 25 | $1.71 | — | ||
| Q1 25 | $1.82 | — | ||
| Q4 24 | $1.75 | — | ||
| Q3 24 | $1.65 | — | ||
| Q2 24 | $1.59 | — | ||
| Q1 24 | $1.51 | — |
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 | $243.2M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $643.8M | $452.4M |
| 总资产 | $4.5B | $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BFCRMAX
| Q4 25 | $243.2M | $118.7M | ||
| Q3 25 | $126.2M | $107.5M | ||
| Q2 25 | $120.3M | $94.3M | ||
| Q1 25 | $300.9M | $89.1M | ||
| Q4 24 | $261.3M | $96.6M | ||
| Q3 24 | $204.4M | $83.8M | ||
| Q2 24 | $99.0M | $66.1M | ||
| Q1 24 | $83.4M | $82.1M |
总债务BFCRMAX
| 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BFCRMAX
| Q4 25 | $643.8M | $452.4M | ||
| Q3 25 | $628.1M | $448.1M | ||
| Q2 25 | $612.3M | $442.4M | ||
| Q1 25 | $648.4M | $433.5M | ||
| Q4 24 | $639.7M | $429.5M | ||
| Q3 24 | $628.9M | $423.1M | ||
| Q2 24 | $614.6M | $418.4M | ||
| Q1 24 | $609.3M | $412.0M |
总资产BFCRMAX
| Q4 25 | $4.5B | $582.5M | ||
| Q3 25 | $4.4B | $582.2M | ||
| Q2 25 | $4.4B | $574.8M | ||
| Q1 25 | $4.5B | $571.4M | ||
| Q4 24 | $4.5B | $581.6M | ||
| Q3 24 | $4.3B | $578.6M | ||
| Q2 24 | $4.1B | $571.4M | ||
| Q1 24 | $4.1B | $566.7M |
负债/权益比BFCRMAX
| 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 | $62.5M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $51.0M | $33.5M |
| 自由现金流率自由现金流/营收 | 113.6% | 47.1% |
| 资本支出强度资本支出/营收 | 25.5% | 10.4% |
| 现金转化率经营现金流/净利润 | 3.40× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $75.8M | $56.8M |
8季度趋势，按日历期对齐
经营现金流BFCRMAX
| Q4 25 | $62.5M | $40.9M | ||
| Q3 25 | $15.5M | $17.7M | ||
| Q2 25 | $11.9M | $4.6M | ||
| Q1 25 | $6.2M | $5.7M | ||
| Q4 24 | $65.8M | $59.7M | ||
| Q3 24 | $18.8M | $17.6M | ||
| Q2 24 | $14.9M | $15.9M | ||
| Q1 24 | $1.3M | $9.4M |
自由现金流BFCRMAX
| Q4 25 | $51.0M | $33.5M | ||
| Q3 25 | $12.5M | $16.4M | ||
| Q2 25 | $8.2M | $2.9M | ||
| Q1 25 | $4.0M | $4.0M | ||
| Q4 24 | $58.6M | $53.0M | ||
| Q3 24 | $16.9M | $16.3M | ||
| Q2 24 | $13.7M | $14.0M | ||
| Q1 24 | $551.0K | $6.8M |
自由现金流率BFCRMAX
| Q4 25 | 113.6% | 47.1% | ||
| Q3 25 | 28.2% | 22.4% | ||
| Q2 25 | 19.8% | 4.0% | ||
| Q1 25 | 9.3% | 5.3% | ||
| Q4 24 | 146.3% | 73.2% | ||
| Q3 24 | 41.5% | 20.8% | ||
| Q2 24 | 35.3% | 17.8% | ||
| Q1 24 | 1.5% | 8.6% |
资本支出强度BFCRMAX
| Q4 25 | 25.5% | 10.4% | ||
| Q3 25 | 6.7% | 1.8% | ||
| Q2 25 | 8.7% | 2.2% | ||
| Q1 25 | 5.0% | 2.3% | ||
| Q4 24 | 18.0% | 9.1% | ||
| Q3 24 | 4.5% | 1.7% | ||
| Q2 24 | 3.1% | 2.4% | ||
| Q1 24 | 2.1% | 3.3% |
现金转化率BFCRMAX
| Q4 25 | 3.40× | 28.39× | ||
| Q3 25 | 0.86× | 4.45× | ||
| Q2 25 | 0.70× | 0.97× | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 3.75× | 10.28× | ||
| Q3 24 | 1.13× | 18.22× | ||
| Q2 24 | 0.93× | 4.29× | ||
| Q1 24 | 0.09× | — |
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
BFC
暂无分部数据
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
