vs
Cronos Group Inc.（CRON）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Cronos Group Inc.的1.6倍（$71.1M vs $44.5M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -4.1%，领先6.1%），Cronos Group Inc.同比增速更快（47.0% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $9.7M），过去两年Cronos Group Inc.的营收复合增速更高（32.7% vs -4.7%）
Cronos集团是全球性大麻素企业，主营大麻种植、加工及相关衍生产品的分销业务，产品线覆盖健康补充剂、快消品及医用大麻品类，主要服务北美、欧洲、亚太地区的合规娱乐与医用消费市场，严格遵循各地监管要求保障产品品质。
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。
CRON vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.6倍
$44.5M
营收增速更快
CRON
高出48.8%
-1.8%
净利率更高
RMAX
高出6.1%
-4.1%
自由现金流更多
RMAX
多$23.8M
$9.7M
两年增速更快
CRON
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $44.5M | $71.1M |
| 净利润 | $-1.8M | $1.4M |
| 毛利率 | 36.4% | — |
| 营业利润率 | -16.8% | 13.1% |
| 净利率 | -4.1% | 2.0% |
| 营收同比 | 47.0% | -1.8% |
| 净利润同比 | -104.2% | -75.2% |
| 每股收益（稀释后） | $-0.01 | — |
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CRONRMAX
| Q4 25 | $44.5M | $71.1M | ||
| Q3 25 | $36.3M | $73.2M | ||
| Q2 25 | $33.5M | $72.8M | ||
| Q1 25 | $32.3M | $74.5M | ||
| Q4 24 | $30.3M | $72.5M | ||
| Q3 24 | $34.3M | $78.5M | ||
| Q2 24 | $27.8M | $78.5M | ||
| Q1 24 | $25.3M | $78.3M |
净利润CRONRMAX
| Q4 25 | $-1.8M | $1.4M | ||
| Q3 25 | $26.0M | $4.0M | ||
| Q2 25 | $-39.7M | $4.7M | ||
| Q1 25 | $6.1M | $-2.0M | ||
| Q4 24 | $43.7M | $5.8M | ||
| Q3 24 | $8.3M | $966.0K | ||
| Q2 24 | $-8.8M | $3.7M | ||
| Q1 24 | $-2.2M | $-3.4M |
毛利率CRONRMAX
| Q4 25 | 36.4% | — | ||
| Q3 25 | 50.4% | — | ||
| Q2 25 | 43.4% | — | ||
| Q1 25 | 42.6% | — | ||
| Q4 24 | 35.7% | — | ||
| Q3 24 | 10.5% | — | ||
| Q2 24 | 22.7% | — | ||
| Q1 24 | 17.7% | — |
营业利润率CRONRMAX
| Q4 25 | -16.8% | 13.1% | ||
| Q3 25 | -1.4% | 25.0% | ||
| Q2 25 | -15.9% | 19.3% | ||
| Q1 25 | -12.6% | 7.2% | ||
| Q4 24 | -37.5% | 5.9% | ||
| Q3 24 | -98.2% | 19.4% | ||
| Q2 24 | -56.1% | 20.6% | ||
| Q1 24 | -63.1% | 5.8% |
净利率CRONRMAX
| Q4 25 | -4.1% | 2.0% | ||
| Q3 25 | 71.4% | 5.4% | ||
| Q2 25 | -118.7% | 6.4% | ||
| Q1 25 | 19.0% | -2.6% | ||
| Q4 24 | 144.3% | 8.0% | ||
| Q3 24 | 24.4% | 1.2% | ||
| Q2 24 | -31.5% | 4.7% | ||
| Q1 24 | -8.9% | -4.3% |
每股收益（稀释后）CRONRMAX
| Q4 25 | $-0.01 | — | ||
| Q3 25 | $0.07 | — | ||
| Q2 25 | $-0.10 | — | ||
| Q1 25 | $0.02 | — | ||
| Q4 24 | $0.12 | — | ||
| Q3 24 | $0.02 | — | ||
| Q2 24 | $-0.02 | — | ||
| Q1 24 | $-0.01 | — |
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 | $831.8M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $1.1B | $452.4M |
| 总资产 | $1.2B | $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CRONRMAX
| Q4 25 | $831.8M | $118.7M | ||
| Q3 25 | $824.2M | $107.5M | ||
| Q2 25 | $834.4M | $94.3M | ||
| Q1 25 | $837.8M | $89.1M | ||
| Q4 24 | $858.8M | $96.6M | ||
| Q3 24 | $862.0M | $83.8M | ||
| Q2 24 | $848.2M | $66.1M | ||
| Q1 24 | $855.1M | $82.1M |
总债务CRONRMAX
| 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CRONRMAX
| Q4 25 | $1.1B | $452.4M | ||
| Q3 25 | $1.1B | $448.1M | ||
| Q2 25 | $1.1B | $442.4M | ||
| Q1 25 | $1.1B | $433.5M | ||
| Q4 24 | $1.1B | $429.5M | ||
| Q3 24 | $1.1B | $423.1M | ||
| Q2 24 | $1.1B | $418.4M | ||
| Q1 24 | $1.1B | $412.0M |
总资产CRONRMAX
| Q4 25 | $1.2B | $582.5M | ||
| Q3 25 | $1.2B | $582.2M | ||
| Q2 25 | $1.2B | $574.8M | ||
| Q1 25 | $1.2B | $571.4M | ||
| Q4 24 | $1.2B | $581.6M | ||
| Q3 24 | $1.2B | $578.6M | ||
| Q2 24 | $1.1B | $571.4M | ||
| Q1 24 | $1.1B | $566.7M |
负债/权益比CRONRMAX
| 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 | $11.8M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $9.7M | $33.5M |
| 自由现金流率自由现金流/营收 | 21.8% | 47.1% |
| 资本支出强度资本支出/营收 | 4.8% | 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 | $149.0K | $56.8M |
8季度趋势，按日历期对齐
经营现金流CRONRMAX
| Q4 25 | $11.8M | $40.9M | ||
| Q3 25 | $13.3M | $17.7M | ||
| Q2 25 | $2.8M | $4.6M | ||
| Q1 25 | $-2.1M | $5.7M | ||
| Q4 24 | $7.7M | $59.7M | ||
| Q3 24 | $11.6M | $17.6M | ||
| Q2 24 | $1.7M | $15.9M | ||
| Q1 24 | $-2.2M | $9.4M |
自由现金流CRONRMAX
| Q4 25 | $9.7M | $33.5M | ||
| Q3 25 | $8.8M | $16.4M | ||
| Q2 25 | $-1.0M | $2.9M | ||
| Q1 25 | $-17.4M | $4.0M | ||
| Q4 24 | $4.2M | $53.0M | ||
| Q3 24 | $5.2M | $16.3M | ||
| Q2 24 | $1.0M | $14.0M | ||
| Q1 24 | $-3.9M | $6.8M |
自由现金流率CRONRMAX
| Q4 25 | 21.8% | 47.1% | ||
| Q3 25 | 24.3% | 22.4% | ||
| Q2 25 | -3.0% | 4.0% | ||
| Q1 25 | -53.8% | 5.3% | ||
| Q4 24 | 13.8% | 73.2% | ||
| Q3 24 | 15.1% | 20.8% | ||
| Q2 24 | 3.7% | 17.8% | ||
| Q1 24 | -15.5% | 8.6% |
资本支出强度CRONRMAX
| Q4 25 | 4.8% | 10.4% | ||
| Q3 25 | 12.3% | 1.8% | ||
| Q2 25 | 11.5% | 2.2% | ||
| Q1 25 | 47.3% | 2.3% | ||
| Q4 24 | 11.7% | 9.1% | ||
| Q3 24 | 18.7% | 1.7% | ||
| Q2 24 | 2.6% | 2.4% | ||
| Q1 24 | 6.8% | 3.3% |
现金转化率CRONRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | 0.51× | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | -0.34× | — | ||
| Q4 24 | 0.18× | 10.28× | ||
| Q3 24 | 1.39× | 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
CRON
| Cannabis Flower | $33.7M | 76% |
| Cannabis Extracts | $10.8M | 24% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
