vs
Coinbase（COIN）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
Coinbase的季度营收约是瑞思迈的1.3倍（$1.8B vs $1.4B），瑞思迈净利率更高（27.6% vs -37.4%，领先65.0%），瑞思迈同比增速更快（11.0% vs -21.6%），过去两年瑞思迈的营收复合增速更高（7.9% vs 4.3%）
Coinbase是美国知名加密货币交易所，2012年由布莱恩·阿姆斯特朗与弗雷德·埃尔萨姆联合创立。截至2024年，平台拥有超1亿用户，业务覆盖100多个国家，是美国最大加密货币交易所、全球最大比特币托管机构，托管总资产近5160亿美元，持有约12%的流通比特币及11%的质押以太币。
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。
COIN vs RMD — 直观对比
营收规模更大
COIN
是对方的1.3倍
$1.4B
营收增速更快
RMD
高出32.6%
-21.6%
净利率更高
RMD
高出65.0%
-37.4%
两年增速更快
RMD
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q4 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.4B |
| 净利润 | $-666.7M | $392.6M |
| 毛利率 | — | 61.8% |
| 营业利润率 | 15.4% | 34.6% |
| 净利率 | -37.4% | 27.6% |
| 营收同比 | -21.6% | 11.0% |
| 净利润同比 | -151.6% | 13.9% |
| 每股收益（稀释后） | $-2.43 | $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COINRMD
| Q2 26 | — | $1.4B | ||
| Q4 25 | $1.8B | $1.4B | ||
| Q3 25 | $1.9B | $1.3B | ||
| Q2 25 | $1.5B | $1.3B | ||
| Q1 25 | $2.0B | $1.3B | ||
| Q4 24 | $2.3B | $1.3B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.4B | $1.2B |
净利润COINRMD
| Q2 26 | — | $392.6M | ||
| Q4 25 | $-666.7M | $392.6M | ||
| Q3 25 | $432.6M | $348.5M | ||
| Q2 25 | $1.4B | $379.7M | ||
| Q1 25 | $65.6M | $365.0M | ||
| Q4 24 | $1.3B | $344.6M | ||
| Q3 24 | $75.5M | $311.4M | ||
| Q2 24 | $36.1M | $292.2M |
毛利率COINRMD
| Q2 26 | — | 61.8% | ||
| Q4 25 | — | 61.8% | ||
| Q3 25 | — | 61.5% | ||
| Q2 25 | — | 60.8% | ||
| Q1 25 | — | 59.3% | ||
| Q4 24 | — | 58.6% | ||
| Q3 24 | — | 58.6% | ||
| Q2 24 | — | 58.5% |
营业利润率COINRMD
| Q2 26 | — | 34.6% | ||
| Q4 25 | 15.4% | 34.6% | ||
| Q3 25 | 25.7% | 33.4% | ||
| Q2 25 | -1.6% | 33.7% | ||
| Q1 25 | 34.7% | 33.0% | ||
| Q4 24 | 45.5% | 32.5% | ||
| Q3 24 | 14.1% | 31.6% | ||
| Q2 24 | 23.7% | 31.2% |
净利率COINRMD
| Q2 26 | — | 27.6% | ||
| Q4 25 | -37.4% | 27.6% | ||
| Q3 25 | 23.1% | 26.1% | ||
| Q2 25 | 95.4% | 28.2% | ||
| Q1 25 | 3.2% | 28.3% | ||
| Q4 24 | 56.8% | 26.9% | ||
| Q3 24 | 6.3% | 25.4% | ||
| Q2 24 | 2.5% | 23.9% |
每股收益（稀释后）COINRMD
| Q2 26 | — | $2.68 | ||
| Q4 25 | $-2.43 | $2.68 | ||
| Q3 25 | $1.50 | $2.37 | ||
| Q2 25 | $5.14 | $2.58 | ||
| Q1 25 | $0.24 | $2.48 | ||
| Q4 24 | $4.66 | $2.34 | ||
| Q3 24 | $0.28 | $2.11 | ||
| Q2 24 | $0.14 | $1.97 |
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 | $11.6B | $1.4B |
| 总债务越低越好 | $7.2B | $663.8M |
| 股东权益账面价值 | $14.8B | $6.3B |
| 总资产 | $29.7B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.49× | 0.11× |
8季度趋势，按日历期对齐
现金及短期投资COINRMD
| Q2 26 | — | $1.4B | ||
| Q4 25 | $11.6B | $1.4B | ||
| Q3 25 | $9.8B | $1.4B | ||
| Q2 25 | $7.5B | $1.2B | ||
| Q1 25 | $8.1B | $932.7M | ||
| Q4 24 | $8.5B | $521.9M | ||
| Q3 24 | $7.7B | $426.4M | ||
| Q2 24 | $7.2B | $238.4M |
总债务COINRMD
| Q2 26 | — | $663.8M | ||
| Q4 25 | $7.2B | $403.9M | ||
| Q3 25 | $7.2B | $408.7M | ||
| Q2 25 | $4.2B | $658.4M | ||
| Q1 25 | $4.2B | $663.1M | ||
| Q4 24 | $4.2B | $662.9M | ||
| Q3 24 | $4.2B | $667.6M | ||
| Q2 24 | $4.2B | $697.3M |
股东权益COINRMD
| Q2 26 | — | $6.3B | ||
| Q4 25 | $14.8B | $6.3B | ||
| Q3 25 | $16.0B | $6.1B | ||
| Q2 25 | $12.1B | $6.0B | ||
| Q1 25 | $10.5B | $5.5B | ||
| Q4 24 | $10.3B | $5.3B | ||
| Q3 24 | $8.7B | $5.2B | ||
| Q2 24 | $8.4B | $4.9B |
总资产COINRMD
| Q2 26 | — | $8.5B | ||
| Q4 25 | $29.7B | $8.5B | ||
| Q3 25 | $31.4B | $8.3B | ||
| Q2 25 | $23.5B | $8.2B | ||
| Q1 25 | $21.7B | $7.6B | ||
| Q4 24 | $22.5B | $7.1B | ||
| Q3 24 | $290.6B | $7.2B | ||
| Q2 24 | $287.0B | $6.9B |
负债/权益比COINRMD
| Q2 26 | — | 0.11× | ||
| Q4 25 | 0.49× | 0.06× | ||
| Q3 25 | 0.45× | 0.07× | ||
| Q2 25 | 0.35× | 0.11× | ||
| Q1 25 | 0.40× | 0.12× | ||
| Q4 24 | 0.41× | 0.13× | ||
| Q3 24 | 0.48× | 0.13× | ||
| Q2 24 | 0.51× | 0.14× |
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 | $3.1B | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流COINRMD
| Q2 26 | — | — | ||
| Q4 25 | $3.1B | $339.7M | ||
| Q3 25 | $-784.5M | $457.3M | ||
| Q2 25 | $328.5M | $538.8M | ||
| Q1 25 | $-182.7M | $578.7M | ||
| Q4 24 | $964.6M | $308.6M | ||
| Q3 24 | $696.5M | $325.5M | ||
| Q2 24 | $484.2M | $440.1M |
自由现金流COINRMD
| Q2 26 | — | — | ||
| Q4 25 | — | $311.2M | ||
| Q3 25 | — | $414.4M | ||
| Q2 25 | — | $508.2M | ||
| Q1 25 | — | $557.9M | ||
| Q4 24 | — | $288.0M | ||
| Q3 24 | — | $307.7M | ||
| Q2 24 | — | $415.2M |
自由现金流率COINRMD
| Q2 26 | — | — | ||
| Q4 25 | — | 21.9% | ||
| Q3 25 | — | 31.0% | ||
| Q2 25 | — | 37.7% | ||
| Q1 25 | — | 43.2% | ||
| Q4 24 | — | 22.5% | ||
| Q3 24 | — | 25.1% | ||
| Q2 24 | — | 33.9% |
资本支出强度COINRMD
| Q2 26 | — | — | ||
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 2.0% |
现金转化率COINRMD
| Q2 26 | — | — | ||
| Q4 25 | — | 0.87× | ||
| Q3 25 | -1.81× | 1.31× | ||
| Q2 25 | 0.23× | 1.42× | ||
| Q1 25 | -2.79× | 1.59× | ||
| Q4 24 | 0.75× | 0.90× | ||
| Q3 24 | 9.23× | 1.05× | ||
| Q2 24 | 13.39× | 1.51× |
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
COIN
| Bank Servicing Consumer Net | $733.9M | 41% |
| Subscription And Circulation | $727.4M | 41% |
| Bank Servicing Institutional | $185.0M | 10% |
| Other Revenue | $71.1M | 4% |
| Bank Servicing Other | $63.8M | 4% |
| Related Party | $1.3M | 0% |
RMD
暂无分部数据
