vs
biote Corp.（BTMD）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biote Corp.的1.5倍（$71.1M vs $46.4M），biote Corp.净利率更高（4.2% vs 2.0%，领先2.2%），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -6.9%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $6.5M），过去两年biote Corp.的营收复合增速更高（-0.4% vs -4.7%）
biote Corp是一家专注于个性化生物同质性激素替代疗法的医疗企业，主要面向美国市场运营，为持牌医疗从业者提供相关培训课程，同时推出配套健康补剂与诊断服务，以提升患者诊疗效果。
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。
BTMD vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.5倍
$46.4M
营收增速更快
RMAX
高出5.0%
-6.9%
净利率更高
BTMD
高出2.2%
2.0%
自由现金流更多
RMAX
多$27.0M
$6.5M
两年增速更快
BTMD
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $46.4M | $71.1M |
| 净利润 | $2.0M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | 14.7% | 13.1% |
| 净利率 | 4.2% | 2.0% |
| 营收同比 | -6.9% | -1.8% |
| 净利润同比 | -47.2% | -75.2% |
| 每股收益（稀释后） | $0.05 | — |
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BTMDRMAX
| Q4 25 | $46.4M | $71.1M | ||
| Q3 25 | $48.0M | $73.2M | ||
| Q2 25 | $48.9M | $72.8M | ||
| Q1 25 | $49.0M | $74.5M | ||
| Q4 24 | $49.8M | $72.5M | ||
| Q3 24 | $51.4M | $78.5M | ||
| Q2 24 | $49.2M | $78.5M | ||
| Q1 24 | $46.8M | $78.3M |
净利润BTMDRMAX
| Q4 25 | $2.0M | $1.4M | ||
| Q3 25 | $8.2M | $4.0M | ||
| Q2 25 | $3.2M | $4.7M | ||
| Q1 25 | $13.7M | $-2.0M | ||
| Q4 24 | $3.7M | $5.8M | ||
| Q3 24 | $10.7M | $966.0K | ||
| Q2 24 | $-7.1M | $3.7M | ||
| Q1 24 | $-4.2M | $-3.4M |
营业利润率BTMDRMAX
| Q4 25 | 14.7% | 13.1% | ||
| Q3 25 | 17.2% | 25.0% | ||
| Q2 25 | 22.0% | 19.3% | ||
| Q1 25 | 19.8% | 7.2% | ||
| Q4 24 | 5.6% | 5.9% | ||
| Q3 24 | 23.7% | 19.4% | ||
| Q2 24 | 12.7% | 20.6% | ||
| Q1 24 | 22.3% | 5.8% |
净利率BTMDRMAX
| Q4 25 | 4.2% | 2.0% | ||
| Q3 25 | 17.1% | 5.4% | ||
| Q2 25 | 6.5% | 6.4% | ||
| Q1 25 | 28.0% | -2.6% | ||
| Q4 24 | 7.4% | 8.0% | ||
| Q3 24 | 20.8% | 1.2% | ||
| Q2 24 | -14.4% | 4.7% | ||
| Q1 24 | -8.9% | -4.3% |
每股收益（稀释后）BTMDRMAX
| Q4 25 | $0.05 | — | ||
| Q3 25 | $0.22 | — | ||
| Q2 25 | $0.10 | — | ||
| Q1 25 | $0.37 | — | ||
| Q4 24 | $0.09 | — | ||
| Q3 24 | $0.33 | — | ||
| Q2 24 | $-0.21 | — | ||
| Q1 24 | $-0.12 | — |
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 | $24.1M | $118.7M |
| 总债务越低越好 | $103.1M | $432.2M |
| 股东权益账面价值 | $-58.5M | $452.4M |
| 总资产 | $107.6M | $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BTMDRMAX
| Q4 25 | $24.1M | $118.7M | ||
| Q3 25 | $28.0M | $107.5M | ||
| Q2 25 | $19.6M | $94.3M | ||
| Q1 25 | $41.7M | $89.1M | ||
| Q4 24 | $39.3M | $96.6M | ||
| Q3 24 | $38.2M | $83.8M | ||
| Q2 24 | $26.4M | $66.1M | ||
| Q1 24 | $78.8M | $82.1M |
总债务BTMDRMAX
| Q4 25 | $103.1M | $432.2M | ||
| Q3 25 | $104.7M | $433.3M | ||
| Q2 25 | $106.3M | $434.4M | ||
| Q1 25 | $107.8M | $435.3M | ||
| Q4 24 | $109.4M | $436.2M | ||
| Q3 24 | $110.9M | $437.2M | ||
| Q2 24 | $112.5M | $438.1M | ||
| Q1 24 | $114.1M | $439.0M |
股东权益BTMDRMAX
| Q4 25 | $-58.5M | $452.4M | ||
| Q3 25 | $-72.8M | $448.1M | ||
| Q2 25 | $-85.1M | $442.4M | ||
| Q1 25 | $-90.0M | $433.5M | ||
| Q4 24 | $-105.9M | $429.5M | ||
| Q3 24 | $-130.3M | $423.1M | ||
| Q2 24 | $-143.2M | $418.4M | ||
| Q1 24 | $-36.0M | $412.0M |
总资产BTMDRMAX
| Q4 25 | $107.6M | $582.5M | ||
| Q3 25 | $111.3M | $582.2M | ||
| Q2 25 | $104.8M | $574.8M | ||
| Q1 25 | $123.4M | $571.4M | ||
| Q4 24 | $122.4M | $581.6M | ||
| Q3 24 | $101.3M | $578.6M | ||
| Q2 24 | $92.9M | $571.4M | ||
| Q1 24 | $160.1M | $566.7M |
负债/权益比BTMDRMAX
| 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 | $7.6M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $6.5M | $33.5M |
| 自由现金流率自由现金流/营收 | 14.0% | 47.1% |
| 资本支出强度资本支出/营收 | 2.3% | 10.4% |
| 现金转化率经营现金流/净利润 | 3.87× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $30.2M | $56.8M |
8季度趋势，按日历期对齐
经营现金流BTMDRMAX
| Q4 25 | $7.6M | $40.9M | ||
| Q3 25 | $14.1M | $17.7M | ||
| Q2 25 | $7.1M | $4.6M | ||
| Q1 25 | $6.5M | $5.7M | ||
| Q4 24 | $12.4M | $59.7M | ||
| Q3 24 | $15.6M | $17.6M | ||
| Q2 24 | $9.9M | $15.9M | ||
| Q1 24 | $7.4M | $9.4M |
自由现金流BTMDRMAX
| Q4 25 | $6.5M | $33.5M | ||
| Q3 25 | $13.6M | $16.4M | ||
| Q2 25 | $5.3M | $2.9M | ||
| Q1 25 | $4.8M | $4.0M | ||
| Q4 24 | $10.7M | $53.0M | ||
| Q3 24 | $14.0M | $16.3M | ||
| Q2 24 | $7.4M | $14.0M | ||
| Q1 24 | $6.7M | $6.8M |
自由现金流率BTMDRMAX
| Q4 25 | 14.0% | 47.1% | ||
| Q3 25 | 28.3% | 22.4% | ||
| Q2 25 | 10.8% | 4.0% | ||
| Q1 25 | 9.9% | 5.3% | ||
| Q4 24 | 21.5% | 73.2% | ||
| Q3 24 | 27.3% | 20.8% | ||
| Q2 24 | 15.1% | 17.8% | ||
| Q1 24 | 14.2% | 8.6% |
资本支出强度BTMDRMAX
| Q4 25 | 2.3% | 10.4% | ||
| Q3 25 | 1.0% | 1.8% | ||
| Q2 25 | 3.7% | 2.2% | ||
| Q1 25 | 3.3% | 2.3% | ||
| Q4 24 | 3.4% | 9.1% | ||
| Q3 24 | 3.0% | 1.7% | ||
| Q2 24 | 5.1% | 2.4% | ||
| Q1 24 | 1.5% | 3.3% |
现金转化率BTMDRMAX
| Q4 25 | 3.87× | 28.39× | ||
| Q3 25 | 1.72× | 4.45× | ||
| Q2 25 | 2.22× | 0.97× | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 3.34× | 10.28× | ||
| Q3 24 | 1.45× | 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
BTMD
| Product Revenue | $45.3M | 98% |
| Disposable Trocars Product Revenue | $1.2M | 3% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
