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CENTERSPACE（CSR）与Fathom Holdings Inc.（FTHM）财务数据对比。点击上方公司名可切换其他公司
Fathom Holdings Inc.的季度营收约是CENTERSPACE的1.4倍（$90.6M vs $66.6M），Fathom Holdings Inc.净利率更高（-7.4% vs -27.7%，领先20.3%），CENTERSPACE同比增速更快（0.3% vs -1.2%），CENTERSPACE自由现金流更多（$64.3M vs $-20.7M），过去两年Fathom Holdings Inc.的营收复合增速更高（13.4% vs 1.6%）
Centerspace是一家专注于多户住宅物业持有、运营与开发的房地产投资企业，核心业务覆盖美国中西部及落基山西部区域，面向不同租户群体提供经济型及高端住宅选择，重视租户体验与资产长期价值增长。
Fathom Holdings Inc.是一家总部位于美国的房地产科技与服务企业，为房产经纪人、经纪机构和消费者提供数字交易管理、按揭服务、产权保险、住宅经纪等一站式解决方案，业务覆盖美国大部分区域市场。
CSR vs FTHM — 直观对比
营收规模更大
FTHM
是对方的1.4倍
$66.6M
营收增速更快
CSR
高出1.6%
-1.2%
净利率更高
FTHM
高出20.3%
-27.7%
自由现金流更多
CSR
多$84.9M
$-20.7M
两年增速更快
FTHM
近两年复合增速
1.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $66.6M | $90.6M |
| 净利润 | $-18.4M | $-6.7M |
| 毛利率 | 96.5% | — |
| 营业利润率 | -15.9% | -5.2% |
| 净利率 | -27.7% | -7.4% |
| 营收同比 | 0.3% | -1.2% |
| 净利润同比 | -262.9% | -7.7% |
| 每股收益（稀释后） | $-1.08 | $-0.20 |
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CSRFTHM
| Q4 25 | $66.6M | $90.6M | ||
| Q3 25 | $71.4M | $115.3M | ||
| Q2 25 | $68.5M | $121.4M | ||
| Q1 25 | $67.1M | $93.1M | ||
| Q4 24 | $66.4M | $91.7M | ||
| Q3 24 | $65.0M | $83.7M | ||
| Q2 24 | $65.0M | $89.2M | ||
| Q1 24 | $64.5M | $70.5M |
净利润CSRFTHM
| Q4 25 | $-18.4M | $-6.7M | ||
| Q3 25 | $53.8M | $-4.4M | ||
| Q2 25 | $-14.5M | $-3.6M | ||
| Q1 25 | $-3.7M | $-5.6M | ||
| Q4 24 | $-5.1M | $-6.2M | ||
| Q3 24 | $-1.0M | $-8.1M | ||
| Q2 24 | $-1.3M | $-1.3M | ||
| Q1 24 | $-3.9M | $-5.9M |
毛利率CSRFTHM
| Q4 25 | 96.5% | — | ||
| Q3 25 | 96.5% | — | ||
| Q2 25 | 96.5% | — | ||
| Q1 25 | 96.4% | — | ||
| Q4 24 | 96.5% | — | ||
| Q3 24 | 96.6% | — | ||
| Q2 24 | 96.6% | — | ||
| Q1 24 | 96.4% | — |
营业利润率CSRFTHM
| Q4 25 | -15.9% | -5.2% | ||
| Q3 25 | — | -3.5% | ||
| Q2 25 | -9.9% | -2.0% | ||
| Q1 25 | 7.1% | -4.8% | ||
| Q4 24 | 4.3% | -7.0% | ||
| Q3 24 | 9.8% | -9.3% | ||
| Q2 24 | 11.1% | -4.1% | ||
| Q1 24 | 6.3% | -8.0% |
净利率CSRFTHM
| Q4 25 | -27.7% | -7.4% | ||
| Q3 25 | 75.3% | -3.8% | ||
| Q2 25 | -21.2% | -3.0% | ||
| Q1 25 | -5.6% | -6.1% | ||
| Q4 24 | -7.6% | -6.8% | ||
| Q3 24 | -1.6% | -9.7% | ||
| Q2 24 | -2.0% | -1.5% | ||
| Q1 24 | -6.1% | -8.4% |
每股收益（稀释后）CSRFTHM
| Q4 25 | $-1.08 | $-0.20 | ||
| Q3 25 | $3.19 | $-0.15 | ||
| Q2 25 | $-0.87 | $-0.13 | ||
| Q1 25 | $-0.22 | $-0.24 | ||
| Q4 24 | $-0.31 | $-0.29 | ||
| Q3 24 | $-0.40 | $-0.40 | ||
| Q2 24 | $-0.19 | $-0.07 | ||
| Q1 24 | $-0.37 | $-0.31 |
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 | $12.8M | $5.8M |
| 总债务越低越好 | $1.0B | $5.6M |
| 股东权益账面价值 | $719.2M | $37.4M |
| 总资产 | $1.9B | $78.0M |
| 负债/权益比越低杠杆越低 | 1.42× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资CSRFTHM
| Q4 25 | $12.8M | $5.8M | ||
| Q3 25 | $12.9M | $9.8M | ||
| Q2 25 | $12.4M | $4.9M | ||
| Q1 25 | $11.9M | $8.0M | ||
| Q4 24 | $12.0M | $7.1M | ||
| Q3 24 | $14.5M | $13.1M | ||
| Q2 24 | $14.3M | $10.4M | ||
| Q1 24 | $12.7M | $5.7M |
总债务CSRFTHM
| Q4 25 | $1.0B | $5.6M | ||
| Q3 25 | $1.1B | $5.1M | ||
| Q2 25 | $1.1B | $5.1M | ||
| Q1 25 | $955.5M | $5.1M | ||
| Q4 24 | $955.4M | $9.5M | ||
| Q3 24 | $921.3M | $8.8M | ||
| Q2 24 | $931.7M | $3.6M | ||
| Q1 24 | $929.1M | $3.7M |
股东权益CSRFTHM
| Q4 25 | $719.2M | $37.4M | ||
| Q3 25 | $748.6M | $43.4M | ||
| Q2 25 | $710.1M | $40.7M | ||
| Q1 25 | $636.8M | $43.4M | ||
| Q4 24 | $752.0M | $44.7M | ||
| Q3 24 | $672.5M | $47.1M | ||
| Q2 24 | $680.7M | $53.1M | ||
| Q1 24 | $688.1M | $51.9M |
总资产CSRFTHM
| Q4 25 | $1.9B | $78.0M | ||
| Q3 25 | $2.1B | $83.2M | ||
| Q2 25 | $2.0B | $80.4M | ||
| Q1 25 | $1.9B | $81.0M | ||
| Q4 24 | $1.9B | $75.4M | ||
| Q3 24 | $1.9B | $80.9M | ||
| Q2 24 | $1.9B | $80.2M | ||
| Q1 24 | $1.9B | $78.2M |
负债/权益比CSRFTHM
| Q4 25 | 1.42× | 0.15× | ||
| Q3 25 | 1.53× | 0.12× | ||
| Q2 25 | 1.57× | 0.12× | ||
| Q1 25 | 1.50× | 0.12× | ||
| Q4 24 | 1.27× | 0.21× | ||
| Q3 24 | 1.37× | 0.19× | ||
| Q2 24 | 1.37× | 0.07× | ||
| Q1 24 | 1.35× | 0.07× |
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 | $98.5M | $-20.5M |
| 自由现金流经营现金流 - 资本支出 | $64.3M | $-20.7M |
| 自由现金流率自由现金流/营收 | 96.5% | -22.8% |
| 资本支出强度资本支出/营收 | 51.3% | 0.1% |
| 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 | $125.9M | $-29.4M |
8季度趋势，按日历期对齐
经营现金流CSRFTHM
| Q4 25 | $98.5M | $-20.5M | ||
| Q3 25 | $35.1M | $3.0M | ||
| Q2 25 | $25.3M | $-5.9M | ||
| Q1 25 | $25.4M | $-5.7M | ||
| Q4 24 | $98.2M | $-4.7M | ||
| Q3 24 | $32.3M | $-330.0K | ||
| Q2 24 | $22.9M | $-3.1M | ||
| Q1 24 | $24.4M | $-947.0K |
自由现金流CSRFTHM
| Q4 25 | $64.3M | $-20.7M | ||
| Q3 25 | $25.7M | $3.0M | ||
| Q2 25 | $15.5M | $-6.0M | ||
| Q1 25 | $20.4M | $-5.8M | ||
| Q4 24 | $41.6M | $-4.7M | ||
| Q3 24 | $20.5M | $-364.0K | ||
| Q2 24 | $9.1M | $-3.1M | ||
| Q1 24 | $2.6M | $-948.0K |
自由现金流率CSRFTHM
| Q4 25 | 96.5% | -22.8% | ||
| Q3 25 | 36.0% | 2.6% | ||
| Q2 25 | 22.7% | -4.9% | ||
| Q1 25 | 30.4% | -6.2% | ||
| Q4 24 | 62.6% | -5.2% | ||
| Q3 24 | 31.5% | -0.4% | ||
| Q2 24 | 14.0% | -3.5% | ||
| Q1 24 | 4.0% | -1.3% |
资本支出强度CSRFTHM
| Q4 25 | 51.3% | 0.1% | ||
| Q3 25 | 13.1% | 0.0% | ||
| Q2 25 | 14.2% | 0.0% | ||
| Q1 25 | 7.5% | 0.0% | ||
| Q4 24 | 85.3% | 0.1% | ||
| Q3 24 | 18.2% | 0.0% | ||
| Q2 24 | 21.2% | 0.0% | ||
| Q1 24 | 33.8% | 0.0% |
现金转化率CSRFTHM
| Q4 25 | — | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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
CSR
| Multi Family Residential | $57.3M | 86% |
| Other | $8.1M | 12% |
| Other Property Revenue | $1.2M | 2% |
FTHM
| Real Estate Brokerage | $84.9M | 94% |
| Mortgage Segment | $3.4M | 4% |
| Other | $2.3M | 3% |
