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Cipher Mining Inc.（CIFR）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Cipher Mining Inc.的1.2倍（$71.1M vs $59.7M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -1229.6%，领先1231.6%），Cipher Mining Inc.同比增速更快（41.4% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $-695.9M），过去两年Cipher Mining Inc.的营收复合增速更高（11.4% vs -4.7%）
Cipher Mining Inc.是总部位于美国的比特币挖矿生态运营企业，当前正全力发展加密货币相关业务，深耕加密行业上游基础设施赛道，依托技术及合规优势构建稳定高效的挖矿服务体系。
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。
CIFR vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.2倍
$59.7M
营收增速更快
CIFR
高出43.3%
-1.8%
净利率更高
RMAX
高出1231.6%
-1229.6%
自由现金流更多
RMAX
多$729.4M
$-695.9M
两年增速更快
CIFR
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $59.7M | $71.1M |
| 净利润 | $-734.2M | $1.4M |
| 毛利率 | 59.4% | — |
| 营业利润率 | -503.4% | 13.1% |
| 净利率 | -1229.6% | 2.0% |
| 营收同比 | 41.4% | -1.8% |
| 净利润同比 | -4293.1% | -75.2% |
| 每股收益（稀释后） | $-1.91 | — |
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CIFRRMAX
| Q4 25 | $59.7M | $71.1M | ||
| Q3 25 | $71.7M | $73.2M | ||
| Q2 25 | $43.6M | $72.8M | ||
| Q1 25 | $49.0M | $74.5M | ||
| Q4 24 | $42.2M | $72.5M | ||
| Q3 24 | $24.1M | $78.5M | ||
| Q2 24 | $36.8M | $78.5M | ||
| Q1 24 | $48.1M | $78.3M |
净利润CIFRRMAX
| Q4 25 | $-734.2M | $1.4M | ||
| Q3 25 | $-3.3M | $4.0M | ||
| Q2 25 | $-45.8M | $4.7M | ||
| Q1 25 | $-39.0M | $-2.0M | ||
| Q4 24 | $17.5M | $5.8M | ||
| Q3 24 | $-86.8M | $966.0K | ||
| Q2 24 | $-15.3M | $3.7M | ||
| Q1 24 | $39.9M | $-3.4M |
毛利率CIFRRMAX
| Q4 25 | 59.4% | — | ||
| Q3 25 | 62.7% | — | ||
| Q2 25 | 64.8% | — | ||
| Q1 25 | 69.6% | — | ||
| Q4 24 | 56.9% | — | ||
| Q3 24 | 37.5% | — | ||
| Q2 24 | 61.2% | — | ||
| Q1 24 | 69.2% | — |
营业利润率CIFRRMAX
| Q4 25 | -503.4% | 13.1% | ||
| Q3 25 | -52.5% | 25.0% | ||
| Q2 25 | -103.9% | 19.3% | ||
| Q1 25 | -77.8% | 7.2% | ||
| Q4 24 | 40.5% | 5.9% | ||
| Q3 24 | -379.2% | 19.4% | ||
| Q2 24 | -43.9% | 20.6% | ||
| Q1 24 | 97.2% | 5.8% |
净利率CIFRRMAX
| Q4 25 | -1229.6% | 2.0% | ||
| Q3 25 | -4.6% | 5.4% | ||
| Q2 25 | -105.1% | 6.4% | ||
| Q1 25 | -79.6% | -2.6% | ||
| Q4 24 | 41.5% | 8.0% | ||
| Q3 24 | -359.9% | 1.2% | ||
| Q2 24 | -41.5% | 4.7% | ||
| Q1 24 | 82.9% | -4.3% |
每股收益（稀释后）CIFRRMAX
| Q4 25 | $-1.91 | — | ||
| Q3 25 | $-0.01 | — | ||
| Q2 25 | $-0.12 | — | ||
| Q1 25 | $-0.11 | — | ||
| Q4 24 | $0.04 | — | ||
| Q3 24 | $-0.26 | — | ||
| Q2 24 | $-0.05 | — | ||
| Q1 24 | $0.13 | — |
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 | $628.3M | $118.7M |
| 总债务越低越好 | $2.7B | $432.2M |
| 股东权益账面价值 | $805.5M | $452.4M |
| 总资产 | $4.3B | $582.5M |
| 负债/权益比越低杠杆越低 | 3.37× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资CIFRRMAX
| Q4 25 | $628.3M | $118.7M | ||
| Q3 25 | $1.2B | $107.5M | ||
| Q2 25 | $62.7M | $94.3M | ||
| Q1 25 | $23.2M | $89.1M | ||
| Q4 24 | $5.6M | $96.6M | ||
| Q3 24 | $25.3M | $83.8M | ||
| Q2 24 | $122.6M | $66.1M | ||
| Q1 24 | $88.7M | $82.1M |
总债务CIFRRMAX
| Q4 25 | $2.7B | $432.2M | ||
| Q3 25 | $1.0B | $433.3M | ||
| Q2 25 | $167.1M | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | $0 | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
股东权益CIFRRMAX
| Q4 25 | $805.5M | $452.4M | ||
| Q3 25 | $783.2M | $448.1M | ||
| Q2 25 | $748.9M | $442.4M | ||
| Q1 25 | $734.8M | $433.5M | ||
| Q4 24 | $682.0M | $429.5M | ||
| Q3 24 | $672.0M | $423.1M | ||
| Q2 24 | $690.8M | $418.4M | ||
| Q1 24 | $600.9M | $412.0M |
总资产CIFRRMAX
| Q4 25 | $4.3B | $582.5M | ||
| Q3 25 | $2.8B | $582.2M | ||
| Q2 25 | $1.0B | $574.8M | ||
| Q1 25 | $913.8M | $571.4M | ||
| Q4 24 | $855.4M | $581.6M | ||
| Q3 24 | $775.4M | $578.6M | ||
| Q2 24 | $775.6M | $571.4M | ||
| Q1 24 | $677.1M | $566.7M |
负债/权益比CIFRRMAX
| Q4 25 | 3.37× | 0.96× | ||
| Q3 25 | 1.31× | 0.97× | ||
| Q2 25 | 0.22× | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | 0.00× | 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 | $-207.9M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $-695.9M | $33.5M |
| 自由现金流率自由现金流/营收 | -1165.4% | 47.1% |
| 资本支出强度资本支出/营收 | 817.1% | 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 | $-1.1B | $56.8M |
8季度趋势，按日历期对齐
经营现金流CIFRRMAX
| Q4 25 | $-207.9M | $40.9M | ||
| Q3 25 | $-50.1M | $17.7M | ||
| Q2 25 | $-56.2M | $4.6M | ||
| Q1 25 | $-47.2M | $5.7M | ||
| Q4 24 | $-87.5M | $59.7M | ||
| Q3 24 | $-6.5M | $17.6M | ||
| Q2 24 | $-25.4M | $15.9M | ||
| Q1 24 | $-26.6M | $9.4M |
自由现金流CIFRRMAX
| Q4 25 | $-695.9M | $33.5M | ||
| Q3 25 | $-256.2M | $16.4M | ||
| Q2 25 | $-87.5M | $2.9M | ||
| Q1 25 | $-71.8M | $4.0M | ||
| Q4 24 | $-227.0M | $53.0M | ||
| Q3 24 | $-83.2M | $16.3M | ||
| Q2 24 | $-33.2M | $14.0M | ||
| Q1 24 | $-34.5M | $6.8M |
自由现金流率CIFRRMAX
| Q4 25 | -1165.4% | 47.1% | ||
| Q3 25 | -357.3% | 22.4% | ||
| Q2 25 | -200.9% | 4.0% | ||
| Q1 25 | -146.7% | 5.3% | ||
| Q4 24 | -537.6% | 73.2% | ||
| Q3 24 | -345.0% | 20.8% | ||
| Q2 24 | -90.2% | 17.8% | ||
| Q1 24 | -71.7% | 8.6% |
资本支出强度CIFRRMAX
| Q4 25 | 817.1% | 10.4% | ||
| Q3 25 | 287.5% | 1.8% | ||
| Q2 25 | 71.8% | 2.2% | ||
| Q1 25 | 50.2% | 2.3% | ||
| Q4 24 | 330.4% | 9.1% | ||
| Q3 24 | 317.8% | 1.7% | ||
| Q2 24 | 21.4% | 2.4% | ||
| Q1 24 | 16.4% | 3.3% |
现金转化率CIFRRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | -5.00× | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| Q1 24 | -0.67× | — |
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
CIFR
暂无分部数据
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
