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Core Scientific, Inc.（CORZ）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
Core Scientific, Inc.的季度营收约是RE/MAX Holdings, Inc.的1.1倍（$79.8M vs $71.1M），Core Scientific, Inc.净利率更高（268.5% vs 2.0%，领先266.5%），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -16.0%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $-450.8M），过去两年RE/MAX Holdings, Inc.的营收复合增速更高（-4.7% vs -33.3%）
Core Scientific是全球领先的数字资产与高性能计算基础设施服务商，在北美多地运营高能效大型数据中心，主营加密货币挖矿业务，同时为区块链、人工智能领域客户提供托管及定制化算力解决方案。
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。
CORZ vs RMAX — 直观对比
营收规模更大
CORZ
是对方的1.1倍
$71.1M
营收增速更快
RMAX
高出14.1%
-16.0%
净利率更高
CORZ
高出266.5%
2.0%
自由现金流更多
RMAX
多$484.3M
$-450.8M
两年增速更快
RMAX
近两年复合增速
-33.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $79.8M | $71.1M |
| 净利润 | $214.2M | $1.4M |
| 毛利率 | 26.0% | — |
| 营业利润率 | -149.5% | 13.1% |
| 净利率 | 268.5% | 2.0% |
| 营收同比 | -16.0% | -1.8% |
| 净利润同比 | 180.6% | -75.2% |
| 每股收益（稀释后） | $-1.63 | — |
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CORZRMAX
| Q4 25 | $79.8M | $71.1M | ||
| Q3 25 | $81.1M | $73.2M | ||
| Q2 25 | $78.6M | $72.8M | ||
| Q1 25 | $79.5M | $74.5M | ||
| Q4 24 | $94.9M | $72.5M | ||
| Q3 24 | $95.4M | $78.5M | ||
| Q2 24 | $141.1M | $78.5M | ||
| Q1 24 | $179.3M | $78.3M |
净利润CORZRMAX
| Q4 25 | $214.2M | $1.4M | ||
| Q3 25 | $-144.0M | $4.0M | ||
| Q2 25 | $-936.8M | $4.7M | ||
| Q1 25 | $576.3M | $-2.0M | ||
| Q4 24 | $-265.5M | $5.8M | ||
| Q3 24 | $-455.3M | $966.0K | ||
| Q2 24 | $-902.2M | $3.7M | ||
| Q1 24 | $210.7M | $-3.4M |
毛利率CORZRMAX
| Q4 25 | 26.0% | — | ||
| Q3 25 | 4.8% | — | ||
| Q2 25 | 6.4% | — | ||
| Q1 25 | 10.3% | — | ||
| Q4 24 | 5.0% | — | ||
| Q3 24 | -0.2% | — | ||
| Q2 24 | 27.5% | — | ||
| Q1 24 | 43.3% | — |
营业利润率CORZRMAX
| Q4 25 | -149.5% | 13.1% | ||
| Q3 25 | -67.6% | 25.0% | ||
| Q2 25 | -33.4% | 19.3% | ||
| Q1 25 | -59.1% | 7.2% | ||
| Q4 24 | -41.9% | 5.9% | ||
| Q3 24 | -43.2% | 19.4% | ||
| Q2 24 | -64.3% | 20.6% | ||
| Q1 24 | 30.8% | 5.8% |
净利率CORZRMAX
| Q4 25 | 268.5% | 2.0% | ||
| Q3 25 | -177.6% | 5.4% | ||
| Q2 25 | -1191.4% | 6.4% | ||
| Q1 25 | 724.6% | -2.6% | ||
| Q4 24 | -279.7% | 8.0% | ||
| Q3 24 | -477.4% | 1.2% | ||
| Q2 24 | -639.4% | 4.7% | ||
| Q1 24 | 117.5% | -4.3% |
每股收益（稀释后）CORZRMAX
| Q4 25 | $-1.63 | — | ||
| Q3 25 | $-0.45 | — | ||
| Q2 25 | $-0.04 | — | ||
| Q1 25 | $1.24 | — | ||
| Q4 24 | $0.51 | — | ||
| Q3 24 | $-1.17 | — | ||
| Q2 24 | $-5.05 | — | ||
| Q1 24 | $0.78 | — |
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 | $311.4M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $-962.7M | $452.4M |
| 总资产 | $2.3B | $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CORZRMAX
| Q4 25 | $311.4M | $118.7M | ||
| Q3 25 | $453.4M | $107.5M | ||
| Q2 25 | $581.3M | $94.3M | ||
| Q1 25 | $697.9M | $89.1M | ||
| Q4 24 | $836.2M | $96.6M | ||
| Q3 24 | $253.0M | $83.8M | ||
| Q2 24 | $96.1M | $66.1M | ||
| Q1 24 | $98.1M | $82.1M |
总债务CORZRMAX
| Q4 25 | — | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | — | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
股东权益CORZRMAX
| Q4 25 | $-962.7M | $452.4M | ||
| Q3 25 | $-1.3B | $448.1M | ||
| Q2 25 | $-1.2B | $442.4M | ||
| Q1 25 | $-308.8M | $433.5M | ||
| Q4 24 | $-943.0M | $429.5M | ||
| Q3 24 | $-826.7M | $423.1M | ||
| Q2 24 | $-1.2B | $418.4M | ||
| Q1 24 | $-318.5M | $412.0M |
总资产CORZRMAX
| Q4 25 | $2.3B | $582.5M | ||
| Q3 25 | $2.2B | $582.2M | ||
| Q2 25 | $1.9B | $574.8M | ||
| Q1 25 | $1.5B | $571.4M | ||
| Q4 24 | $1.5B | $581.6M | ||
| Q3 24 | $824.6M | $578.6M | ||
| Q2 24 | $664.2M | $571.4M | ||
| Q1 24 | $814.0M | $566.7M |
负债/权益比CORZRMAX
| 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 | $278.3M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $-450.8M | $33.5M |
| 自由现金流率自由现金流/营收 | -565.1% | 47.1% |
| 资本支出强度资本支出/营收 | 914.0% | 10.4% |
| 现金转化率经营现金流/净利润 | 1.30× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $-779.8M | $56.8M |
8季度趋势，按日历期对齐
经营现金流CORZRMAX
| Q4 25 | $278.3M | $40.9M | ||
| Q3 25 | $131.8M | $17.7M | ||
| Q2 25 | $34.0M | $4.6M | ||
| Q1 25 | $-45.0M | $5.7M | ||
| Q4 24 | $42.9M | $59.7M | ||
| Q3 24 | $5.7M | $17.6M | ||
| Q2 24 | $1.2M | $15.9M | ||
| Q1 24 | $22.2M | $9.4M |
自由现金流CORZRMAX
| Q4 25 | $-450.8M | $33.5M | ||
| Q3 25 | $-112.7M | $16.4M | ||
| Q2 25 | $-87.3M | $2.9M | ||
| Q1 25 | $-129.0M | $4.0M | ||
| Q4 24 | $-52.1M | $53.0M | ||
| Q3 24 | $-25.5M | $16.3M | ||
| Q2 24 | $-1.9M | $14.0M | ||
| Q1 24 | $-9.7M | $6.8M |
自由现金流率CORZRMAX
| Q4 25 | -565.1% | 47.1% | ||
| Q3 25 | -139.0% | 22.4% | ||
| Q2 25 | -111.0% | 4.0% | ||
| Q1 25 | -162.2% | 5.3% | ||
| Q4 24 | -54.8% | 73.2% | ||
| Q3 24 | -26.7% | 20.8% | ||
| Q2 24 | -1.4% | 17.8% | ||
| Q1 24 | -5.4% | 8.6% |
资本支出强度CORZRMAX
| Q4 25 | 914.0% | 10.4% | ||
| Q3 25 | 301.5% | 1.8% | ||
| Q2 25 | 154.2% | 2.2% | ||
| Q1 25 | 105.6% | 2.3% | ||
| Q4 24 | 100.0% | 9.1% | ||
| Q3 24 | 32.7% | 1.7% | ||
| Q2 24 | 2.2% | 2.4% | ||
| Q1 24 | 17.8% | 3.3% |
现金转化率CORZRMAX
| Q4 25 | 1.30× | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| Q1 24 | 0.11× | — |
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
CORZ
| Other | $36.3M | 46% |
| Digital Asset Self Mining Service | $31.8M | 40% |
| Colocation Service | $11.6M | 15% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
