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Cboe Global Markets（CBOE）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
瑞思迈的季度营收约是Cboe Global Markets的1.2倍（$1.4B vs $1.2B），瑞思迈净利率更高（27.6% vs 26.0%，领先1.6%），瑞思迈同比增速更快（11.0% vs 8.7%），Cboe Global Markets自由现金流更多（$332.1M vs $311.2M），过去两年Cboe Global Markets的营收复合增速更高（12.2% vs 9.0%）
Cboe Global Markets是总部位于美国芝加哥的金融交易所运营集团，旗下拥有并运营多类交易所及交易场所，业务覆盖股票、期权、期货、数字资产等多个交易领域，为全球市场参与者提供专业交易服务支持。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
CBOE vs RMD — 直观对比
营收规模更大
RMD
是对方的1.2倍
$1.2B
营收增速更快
RMD
高出2.3%
8.7%
净利率更高
RMD
高出1.6%
26.0%
自由现金流更多
CBOE
多$20.9M
$311.2M
两年增速更快
CBOE
近两年复合增速
9.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.4B |
| 净利润 | $313.5M | $392.6M |
| 毛利率 | 55.7% | 61.8% |
| 营业利润率 | 33.5% | 34.6% |
| 净利率 | 26.0% | 27.6% |
| 营收同比 | 8.7% | 11.0% |
| 净利润同比 | 59.5% | 13.9% |
| 每股收益（稀释后） | $2.97 | $2.68 |
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CBOERMD
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $974.0M | $1.2B | ||
| Q1 24 | $957.2M | $1.2B |
净利润CBOERMD
| Q4 25 | $313.5M | $392.6M | ||
| Q3 25 | $300.8M | $348.5M | ||
| Q2 25 | $235.1M | $379.7M | ||
| Q1 25 | $250.6M | $365.0M | ||
| Q4 24 | $196.5M | $344.6M | ||
| Q3 24 | $218.5M | $311.4M | ||
| Q2 24 | $140.4M | $292.2M | ||
| Q1 24 | $209.5M | $300.5M |
毛利率CBOERMD
| Q4 25 | 55.7% | 61.8% | ||
| Q3 25 | 53.0% | 61.5% | ||
| Q2 25 | 50.0% | 60.8% | ||
| Q1 25 | 47.3% | 59.3% | ||
| Q4 24 | 47.4% | 58.6% | ||
| Q3 24 | 50.4% | 58.6% | ||
| Q2 24 | 52.8% | 58.5% | ||
| Q1 24 | 52.5% | 57.9% |
营业利润率CBOERMD
| Q4 25 | 33.5% | 34.6% | ||
| Q3 25 | 32.4% | 33.4% | ||
| Q2 25 | 28.9% | 33.7% | ||
| Q1 25 | 29.6% | 33.0% | ||
| Q4 24 | 27.0% | 32.5% | ||
| Q3 24 | 29.1% | 31.6% | ||
| Q2 24 | 21.6% | 31.2% | ||
| Q1 24 | 29.5% | 31.3% |
净利率CBOERMD
| Q4 25 | 26.0% | 27.6% | ||
| Q3 25 | 26.3% | 26.1% | ||
| Q2 25 | 20.0% | 28.2% | ||
| Q1 25 | 21.0% | 28.3% | ||
| Q4 24 | 17.7% | 26.9% | ||
| Q3 24 | 20.7% | 25.4% | ||
| Q2 24 | 14.4% | 23.9% | ||
| Q1 24 | 21.9% | 25.1% |
每股收益（稀释后）CBOERMD
| Q4 25 | $2.97 | $2.68 | ||
| Q3 25 | $2.85 | $2.37 | ||
| Q2 25 | $2.23 | $2.58 | ||
| Q1 25 | $2.37 | $2.48 | ||
| Q4 24 | $1.85 | $2.34 | ||
| Q3 24 | $2.07 | $2.11 | ||
| Q2 24 | $1.33 | $1.97 | ||
| Q1 24 | $1.96 | $2.04 |
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 | $2.3B | $1.4B |
| 总债务越低越好 | $1.4B | $403.9M |
| 股东权益账面价值 | $5.1B | $6.3B |
| 总资产 | $9.3B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.28× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资CBOERMD
| Q4 25 | $2.3B | $1.4B | ||
| Q3 25 | $1.5B | $1.4B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.2B | $932.7M | ||
| Q4 24 | $1.0B | $521.9M | ||
| Q3 24 | $763.2M | $426.4M | ||
| Q2 24 | $698.3M | $238.4M | ||
| Q1 24 | $595.1M | $237.9M |
总债务CBOERMD
| Q4 25 | $1.4B | $403.9M | ||
| Q3 25 | $1.4B | $408.7M | ||
| Q2 25 | $1.4B | $658.4M | ||
| Q1 25 | $1.4B | $663.1M | ||
| Q4 24 | $1.4B | $662.9M | ||
| Q3 24 | $1.4B | $667.6M | ||
| Q2 24 | $1.4B | $697.3M | ||
| Q1 24 | $1.4B | $997.0M |
股东权益CBOERMD
| Q4 25 | $5.1B | $6.3B | ||
| Q3 25 | $4.9B | $6.1B | ||
| Q2 25 | $4.7B | $6.0B | ||
| Q1 25 | $4.5B | $5.5B | ||
| Q4 24 | $4.3B | $5.3B | ||
| Q3 24 | $4.2B | $5.2B | ||
| Q2 24 | $4.0B | $4.9B | ||
| Q1 24 | $4.0B | $4.6B |
总资产CBOERMD
| Q4 25 | $9.3B | $8.5B | ||
| Q3 25 | $9.1B | $8.3B | ||
| Q2 25 | $9.0B | $8.2B | ||
| Q1 25 | $8.7B | $7.6B | ||
| Q4 24 | $7.8B | $7.1B | ||
| Q3 24 | $8.7B | $7.2B | ||
| Q2 24 | $9.3B | $6.9B | ||
| Q1 24 | $8.2B | $6.8B |
负债/权益比CBOERMD
| Q4 25 | 0.28× | 0.06× | ||
| Q3 25 | 0.30× | 0.07× | ||
| Q2 25 | 0.31× | 0.11× | ||
| Q1 25 | 0.32× | 0.12× | ||
| Q4 24 | 0.34× | 0.13× | ||
| Q3 24 | 0.34× | 0.13× | ||
| Q2 24 | 0.36× | 0.14× | ||
| Q1 24 | 0.36× | 0.22× |
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 | $352.1M | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $332.1M | $311.2M |
| 自由现金流率自由现金流/营收 | 27.6% | 21.9% |
| 资本支出强度资本支出/营收 | 1.7% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.12× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $1.7B | $1.8B |
8季度趋势，按日历期对齐
经营现金流CBOERMD
| Q4 25 | $352.1M | $339.7M | ||
| Q3 25 | $153.9M | $457.3M | ||
| Q2 25 | $333.7M | $538.8M | ||
| Q1 25 | $912.9M | $578.7M | ||
| Q4 24 | $-710.4M | $308.6M | ||
| Q3 24 | $-578.5M | $325.5M | ||
| Q2 24 | $1.5B | $440.1M | ||
| Q1 24 | $895.6M | $402.0M |
自由现金流CBOERMD
| Q4 25 | $332.1M | $311.2M | ||
| Q3 25 | $137.9M | $414.4M | ||
| Q2 25 | $313.4M | $508.2M | ||
| Q1 25 | $898.2M | $557.9M | ||
| Q4 24 | $-734.2M | $288.0M | ||
| Q3 24 | $-590.5M | $307.7M | ||
| Q2 24 | $1.5B | $415.2M | ||
| Q1 24 | $888.3M | $380.8M |
自由现金流率CBOERMD
| Q4 25 | 27.6% | 21.9% | ||
| Q3 25 | 12.1% | 31.0% | ||
| Q2 25 | 26.7% | 37.7% | ||
| Q1 25 | 75.2% | 43.2% | ||
| Q4 24 | -66.3% | 22.5% | ||
| Q3 24 | -55.9% | 25.1% | ||
| Q2 24 | 151.6% | 33.9% | ||
| Q1 24 | 92.8% | 31.8% |
资本支出强度CBOERMD
| Q4 25 | 1.7% | 2.0% | ||
| Q3 25 | 1.4% | 3.2% | ||
| Q2 25 | 1.7% | 2.3% | ||
| Q1 25 | 1.2% | 1.6% | ||
| Q4 24 | 2.1% | 1.6% | ||
| Q3 24 | 1.1% | 1.5% | ||
| Q2 24 | 1.8% | 2.0% | ||
| Q1 24 | 0.8% | 1.8% |
现金转化率CBOERMD
| Q4 25 | 1.12× | 0.87× | ||
| Q3 25 | 0.51× | 1.31× | ||
| Q2 25 | 1.42× | 1.42× | ||
| Q1 25 | 3.64× | 1.59× | ||
| Q4 24 | -3.62× | 0.90× | ||
| Q3 24 | -2.65× | 1.05× | ||
| Q2 24 | 10.64× | 1.51× | ||
| Q1 24 | 4.27× | 1.34× |
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
CBOE
| Liquidity Payments | $443.6M | 37% |
| Cash And Spot Markets | $431.3M | 36% |
| Transferred Over Time | $84.3M | 7% |
| Market Data Fees | $82.7M | 7% |
| Royalty Fees | $68.9M | 6% |
| Futures | $36.1M | 3% |
| Global FX | $24.4M | 2% |
| Other Revenue | $23.1M | 2% |
| Routing And Clearing | $20.1M | 2% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
