vs
BRC Inc.（BRCC）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
BRC Inc.的季度营收约是RE/MAX Holdings, Inc.的1.6倍（$112.7M vs $71.1M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -2.8%，领先4.9%），BRC Inc.同比增速更快（6.5% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $-9.4M），过去两年BRC Inc.的营收复合增速更高（7.0% vs -4.7%）
BRC Inc.是一家美国高端咖啡与生活方式品牌，主营烘焙咖啡豆、即饮咖啡饮品、品牌服饰及户外装备，核心客群包含退伍军人、急救人员与户外爱好者，在北美地区通过电商及线下实体门店渠道销售产品。
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。
BRCC vs RMAX — 直观对比
营收规模更大
BRCC
是对方的1.6倍
$71.1M
营收增速更快
BRCC
高出8.3%
-1.8%
净利率更高
RMAX
高出4.9%
-2.8%
自由现金流更多
RMAX
多$42.9M
$-9.4M
两年增速更快
BRCC
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $112.7M | $71.1M |
| 净利润 | $-3.2M | $1.4M |
| 毛利率 | 32.1% | — |
| 营业利润率 | -6.3% | 13.1% |
| 净利率 | -2.8% | 2.0% |
| 营收同比 | 6.5% | -1.8% |
| 净利润同比 | -29.3% | -75.2% |
| 每股收益（稀释后） | $-0.02 | — |
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BRCCRMAX
| Q4 25 | $112.7M | $71.1M | ||
| Q3 25 | $100.7M | $73.2M | ||
| Q2 25 | $94.8M | $72.8M | ||
| Q1 25 | $90.0M | $74.5M | ||
| Q4 24 | $105.9M | $72.5M | ||
| Q3 24 | $98.2M | $78.5M | ||
| Q2 24 | $89.0M | $78.5M | ||
| Q1 24 | $98.4M | $78.3M |
净利润BRCCRMAX
| Q4 25 | $-3.2M | $1.4M | ||
| Q3 25 | $-486.0K | $4.0M | ||
| Q2 25 | $-5.3M | $4.7M | ||
| Q1 25 | $-2.9M | $-2.0M | ||
| Q4 24 | $-2.5M | $5.8M | ||
| Q3 24 | $-535.0K | $966.0K | ||
| Q2 24 | $-482.0K | $3.7M | ||
| Q1 24 | $548.0K | $-3.4M |
毛利率BRCCRMAX
| Q4 25 | 32.1% | — | ||
| Q3 25 | 36.9% | — | ||
| Q2 25 | 33.9% | — | ||
| Q1 25 | 36.1% | — | ||
| Q4 24 | 38.1% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | 41.9% | — | ||
| Q1 24 | 42.9% | — |
营业利润率BRCCRMAX
| Q4 25 | -6.3% | 13.1% | ||
| Q3 25 | 0.5% | 25.0% | ||
| Q2 25 | -13.3% | 19.3% | ||
| Q1 25 | -6.0% | 7.2% | ||
| Q4 24 | -2.1% | 5.9% | ||
| Q3 24 | 1.1% | 19.4% | ||
| Q2 24 | 1.1% | 20.6% | ||
| Q1 24 | 4.0% | 5.8% |
净利率BRCCRMAX
| Q4 25 | -2.8% | 2.0% | ||
| Q3 25 | -0.5% | 5.4% | ||
| Q2 25 | -5.6% | 6.4% | ||
| Q1 25 | -3.2% | -2.6% | ||
| Q4 24 | -2.3% | 8.0% | ||
| Q3 24 | -0.5% | 1.2% | ||
| Q2 24 | -0.5% | 4.7% | ||
| Q1 24 | 0.6% | -4.3% |
每股收益（稀释后）BRCCRMAX
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $0.00 | — | ||
| Q2 25 | $-0.07 | — | ||
| Q1 25 | $-0.04 | — | ||
| Q4 24 | $-0.03 | — | ||
| Q3 24 | $-0.01 | — | ||
| Q2 24 | $-0.01 | — | ||
| 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 | $4.3M | $118.7M |
| 总债务越低越好 | $34.7M | $432.2M |
| 股东权益账面价值 | $45.7M | $452.4M |
| 总资产 | $209.2M | $582.5M |
| 负债/权益比越低杠杆越低 | 0.76× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资BRCCRMAX
| Q4 25 | $4.3M | $118.7M | ||
| Q3 25 | $9.5M | $107.5M | ||
| Q2 25 | $4.3M | $94.3M | ||
| Q1 25 | $3.9M | $89.1M | ||
| Q4 24 | $6.8M | $96.6M | ||
| Q3 24 | $7.3M | $83.8M | ||
| Q2 24 | $9.6M | $66.1M | ||
| Q1 24 | $4.0M | $82.1M |
总债务BRCCRMAX
| Q4 25 | $34.7M | $432.2M | ||
| Q3 25 | $35.0M | $433.3M | ||
| Q2 25 | $72.7M | $434.4M | ||
| Q1 25 | $68.8M | $435.3M | ||
| Q4 24 | $65.1M | $436.2M | ||
| Q3 24 | $64.9M | $437.2M | ||
| Q2 24 | $66.5M | $438.1M | ||
| Q1 24 | $61.5M | $439.0M |
股东权益BRCCRMAX
| Q4 25 | $45.7M | $452.4M | ||
| Q3 25 | $48.0M | $448.1M | ||
| Q2 25 | $10.1M | $442.4M | ||
| Q1 25 | $11.2M | $433.5M | ||
| Q4 24 | $13.2M | $429.5M | ||
| Q3 24 | $14.5M | $423.1M | ||
| Q2 24 | $14.9M | $418.4M | ||
| Q1 24 | $14.6M | $412.0M |
总资产BRCCRMAX
| Q4 25 | $209.2M | $582.5M | ||
| Q3 25 | $222.4M | $582.2M | ||
| Q2 25 | $225.3M | $574.8M | ||
| Q1 25 | $222.9M | $571.4M | ||
| Q4 24 | $227.4M | $581.6M | ||
| Q3 24 | $233.7M | $578.6M | ||
| Q2 24 | $229.9M | $571.4M | ||
| Q1 24 | $227.2M | $566.7M |
负债/权益比BRCCRMAX
| Q4 25 | 0.76× | 0.96× | ||
| Q3 25 | 0.73× | 0.97× | ||
| Q2 25 | 7.19× | 0.98× | ||
| Q1 25 | 6.15× | 1.00× | ||
| Q4 24 | 4.94× | 1.02× | ||
| Q3 24 | 4.47× | 1.03× | ||
| Q2 24 | 4.46× | 1.05× | ||
| Q1 24 | 4.21× | 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 | $-8.7M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $-9.4M | $33.5M |
| 自由现金流率自由现金流/营收 | -8.3% | 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 | — | 28.39× |
| 过去12个月自由现金流最近4个季度 | $-13.5M | $56.8M |
8季度趋势，按日历期对齐
经营现金流BRCCRMAX
| Q4 25 | $-8.7M | $40.9M | ||
| Q3 25 | $6.4M | $17.7M | ||
| Q2 25 | $-3.3M | $4.6M | ||
| Q1 25 | $-4.1M | $5.7M | ||
| Q4 24 | $2.2M | $59.7M | ||
| Q3 24 | $1.9M | $17.6M | ||
| Q2 24 | $2.3M | $15.9M | ||
| Q1 24 | $4.9M | $9.4M |
自由现金流BRCCRMAX
| Q4 25 | $-9.4M | $33.5M | ||
| Q3 25 | $5.6M | $16.4M | ||
| Q2 25 | $-4.3M | $2.9M | ||
| Q1 25 | $-5.3M | $4.0M | ||
| Q4 24 | $504.0K | $53.0M | ||
| Q3 24 | $-205.0K | $16.3M | ||
| Q2 24 | $147.0K | $14.0M | ||
| Q1 24 | $2.2M | $6.8M |
自由现金流率BRCCRMAX
| Q4 25 | -8.3% | 47.1% | ||
| Q3 25 | 5.5% | 22.4% | ||
| Q2 25 | -4.5% | 4.0% | ||
| Q1 25 | -5.9% | 5.3% | ||
| Q4 24 | 0.5% | 73.2% | ||
| Q3 24 | -0.2% | 20.8% | ||
| Q2 24 | 0.2% | 17.8% | ||
| Q1 24 | 2.2% | 8.6% |
资本支出强度BRCCRMAX
| Q4 25 | 0.6% | 10.4% | ||
| Q3 25 | 0.8% | 1.8% | ||
| Q2 25 | 1.0% | 2.2% | ||
| Q1 25 | 1.3% | 2.3% | ||
| Q4 24 | 1.6% | 9.1% | ||
| Q3 24 | 2.2% | 1.7% | ||
| Q2 24 | 2.4% | 2.4% | ||
| Q1 24 | 2.8% | 3.3% |
现金转化率BRCCRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| Q1 24 | 8.97× | — |
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
BRCC
| Sales Channel Through Intermediary | $72.9M | 65% |
| Sales Channel Directly To Consumer | $34.4M | 31% |
| Outpost | $5.4M | 5% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
