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Cambium Networks Corp（CMBM）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Cambium Networks Corp的1.8倍（$71.1M vs $40.3M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -17.9%，领先20.0%），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -23.2%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $-10.8M），过去两年RE/MAX Holdings, Inc.的营收复合增速更高（-4.7% vs -27.2%）
坎布里姆网络公司是美国的无线通信设备制造商，主营企业WiFi、网络交换设备、物联网相关产品，以及面向企业的固定无线宽带、WiFi接入产品。该公司于2011年10月从摩托罗拉分拆，目前在纳斯达克上市。
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。
CMBM vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.8倍
$40.3M
营收增速更快
RMAX
高出21.3%
-23.2%
净利率更高
RMAX
高出20.0%
-17.9%
自由现金流更多
RMAX
多$44.3M
$-10.8M
两年增速更快
RMAX
近两年复合增速
-27.2%
损益表 — Q4 FY2024 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $40.3M | $71.1M |
| 净利润 | $-7.2M | $1.4M |
| 毛利率 | 36.6% | — |
| 营业利润率 | -28.4% | 13.1% |
| 净利率 | -17.9% | 2.0% |
| 营收同比 | -23.2% | -1.8% |
| 净利润同比 | 71.0% | -75.2% |
| 每股收益（稀释后） | $-0.26 | — |
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CMBMRMAX
| Q4 25 | — | $71.1M | ||
| Q3 25 | — | $73.2M | ||
| Q2 25 | — | $72.8M | ||
| Q1 25 | — | $74.5M | ||
| Q4 24 | $40.3M | $72.5M | ||
| Q3 24 | $44.7M | $78.5M | ||
| Q2 24 | $45.2M | $78.5M | ||
| Q1 24 | $47.1M | $78.3M |
净利润CMBMRMAX
| Q4 25 | — | $1.4M | ||
| Q3 25 | — | $4.0M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | $-7.2M | $5.8M | ||
| Q3 24 | $-34.5M | $966.0K | ||
| Q2 24 | $-14.2M | $3.7M | ||
| Q1 24 | $-18.4M | $-3.4M |
毛利率CMBMRMAX
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 36.6% | — | ||
| Q3 24 | 43.6% | — | ||
| Q2 24 | 32.5% | — | ||
| Q1 24 | 29.8% | — |
营业利润率CMBMRMAX
| Q4 25 | — | 13.1% | ||
| Q3 25 | — | 25.0% | ||
| Q2 25 | — | 19.3% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | -28.4% | 5.9% | ||
| Q3 24 | -69.6% | 19.4% | ||
| Q2 24 | -27.2% | 20.6% | ||
| Q1 24 | -33.1% | 5.8% |
净利率CMBMRMAX
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 5.4% | ||
| Q2 25 | — | 6.4% | ||
| Q1 25 | — | -2.6% | ||
| Q4 24 | -17.9% | 8.0% | ||
| Q3 24 | -77.3% | 1.2% | ||
| Q2 24 | -31.5% | 4.7% | ||
| Q1 24 | -39.2% | -4.3% |
每股收益（稀释后）CMBMRMAX
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-0.26 | — | ||
| Q3 24 | $-1.22 | — | ||
| Q2 24 | $-0.51 | — | ||
| Q1 24 | $-0.66 | — |
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 | — | $118.7M |
| 总债务越低越好 | $67.6M | $432.2M |
| 股东权益账面价值 | $-3.2M | $452.4M |
| 总资产 | $173.7M | $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CMBMRMAX
| Q4 25 | — | $118.7M | ||
| Q3 25 | — | $107.5M | ||
| Q2 25 | — | $94.3M | ||
| Q1 25 | — | $89.1M | ||
| Q4 24 | — | $96.6M | ||
| Q3 24 | — | $83.8M | ||
| Q2 24 | — | $66.1M | ||
| Q1 24 | — | $82.1M |
总债务CMBMRMAX
| Q4 25 | — | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | $67.6M | $436.2M | ||
| Q3 24 | $67.6M | $437.2M | ||
| Q2 24 | $68.9M | $438.1M | ||
| Q1 24 | $63.8M | $439.0M |
股东权益CMBMRMAX
| Q4 25 | — | $452.4M | ||
| Q3 25 | — | $448.1M | ||
| Q2 25 | — | $442.4M | ||
| Q1 25 | — | $433.5M | ||
| Q4 24 | $-3.2M | $429.5M | ||
| Q3 24 | $1.9M | $423.1M | ||
| Q2 24 | $34.1M | $418.4M | ||
| Q1 24 | $45.0M | $412.0M |
总资产CMBMRMAX
| Q4 25 | — | $582.5M | ||
| Q3 25 | — | $582.2M | ||
| Q2 25 | — | $574.8M | ||
| Q1 25 | — | $571.4M | ||
| Q4 24 | $173.7M | $581.6M | ||
| Q3 24 | $194.3M | $578.6M | ||
| Q2 24 | $221.1M | $571.4M | ||
| Q1 24 | $219.8M | $566.7M |
负债/权益比CMBMRMAX
| Q4 25 | — | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | — | 1.02× | ||
| Q3 24 | 36.12× | 1.03× | ||
| Q2 24 | 2.02× | 1.05× | ||
| Q1 24 | 1.42× | 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 | $-10.4M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $-10.8M | $33.5M |
| 自由现金流率自由现金流/营收 | -26.8% | 47.1% |
| 资本支出强度资本支出/营收 | 1.1% | 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 | $-21.4M | $56.8M |
8季度趋势，按日历期对齐
经营现金流CMBMRMAX
| Q4 25 | — | $40.9M | ||
| Q3 25 | — | $17.7M | ||
| Q2 25 | — | $4.6M | ||
| Q1 25 | — | $5.7M | ||
| Q4 24 | $-10.4M | $59.7M | ||
| Q3 24 | $8.9M | $17.6M | ||
| Q2 24 | $2.4M | $15.9M | ||
| Q1 24 | $-15.9M | $9.4M |
自由现金流CMBMRMAX
| Q4 25 | — | $33.5M | ||
| Q3 25 | — | $16.4M | ||
| Q2 25 | — | $2.9M | ||
| Q1 25 | — | $4.0M | ||
| Q4 24 | $-10.8M | $53.0M | ||
| Q3 24 | $6.8M | $16.3M | ||
| Q2 24 | $87.0K | $14.0M | ||
| Q1 24 | $-17.4M | $6.8M |
自由现金流率CMBMRMAX
| Q4 25 | — | 47.1% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | -26.8% | 73.2% | ||
| Q3 24 | 15.2% | 20.8% | ||
| Q2 24 | 0.2% | 17.8% | ||
| Q1 24 | -37.0% | 8.6% |
资本支出强度CMBMRMAX
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | 1.1% | 9.1% | ||
| Q3 24 | 4.8% | 1.7% | ||
| Q2 24 | 5.1% | 2.4% | ||
| Q1 24 | 3.3% | 3.3% |
现金转化率CMBMRMAX
| 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 | — | — |
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
CMBM
| Enterprise | $16.6M | 41% |
| Point To Multi Point | $16.4M | 41% |
| Other | $5.8M | 14% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
