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CARRIAGE SERVICES INC（CSV）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
CARRIAGE SERVICES INC的季度营收约是RE/MAX Holdings, Inc.的1.5倍（$105.5M vs $71.1M），CARRIAGE SERVICES INC净利率更高（11.6% vs 2.0%，领先9.6%），CARRIAGE SERVICES INC同比增速更快（8.0% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $6.2M），过去两年CARRIAGE SERVICES INC的营收复合增速更高（1.0% vs -4.7%）
怡和Cycle & Carriage有限公司是怡和集团在东南亚的投资控股公司，目前该集团持有其75%的股份，是怡和集团在东南亚区域开展资本布局与投资业务的核心平台。
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。
CSV vs RMAX — 直观对比
营收规模更大
CSV
是对方的1.5倍
$71.1M
营收增速更快
CSV
高出9.8%
-1.8%
净利率更高
CSV
高出9.6%
2.0%
自由现金流更多
RMAX
多$27.3M
$6.2M
两年增速更快
CSV
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $105.5M | $71.1M |
| 净利润 | $12.3M | $1.4M |
| 毛利率 | 34.8% | — |
| 营业利润率 | 23.3% | 13.1% |
| 净利率 | 11.6% | 2.0% |
| 营收同比 | 8.0% | -1.8% |
| 净利润同比 | 24.5% | -75.2% |
| 每股收益（稀释后） | $0.76 | — |
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CSVRMAX
| Q4 25 | $105.5M | $71.1M | ||
| Q3 25 | $102.7M | $73.2M | ||
| Q2 25 | $102.1M | $72.8M | ||
| Q1 25 | $107.1M | $74.5M | ||
| Q4 24 | $97.7M | $72.5M | ||
| Q3 24 | $100.7M | $78.5M | ||
| Q2 24 | $102.3M | $78.5M | ||
| Q1 24 | $103.5M | $78.3M |
净利润CSVRMAX
| Q4 25 | $12.3M | $1.4M | ||
| Q3 25 | $6.6M | $4.0M | ||
| Q2 25 | $11.7M | $4.7M | ||
| Q1 25 | $20.9M | $-2.0M | ||
| Q4 24 | $9.9M | $5.8M | ||
| Q3 24 | $9.9M | $966.0K | ||
| Q2 24 | $6.3M | $3.7M | ||
| Q1 24 | $7.0M | $-3.4M |
毛利率CSVRMAX
| Q4 25 | 34.8% | — | ||
| Q3 25 | 35.3% | — | ||
| Q2 25 | 35.2% | — | ||
| Q1 25 | 35.3% | — | ||
| Q4 24 | 34.4% | — | ||
| Q3 24 | 35.2% | — | ||
| Q2 24 | 36.2% | — | ||
| Q1 24 | 36.0% | — |
营业利润率CSVRMAX
| Q4 25 | 23.3% | 13.1% | ||
| Q3 25 | 17.0% | 25.0% | ||
| Q2 25 | 23.5% | 19.3% | ||
| Q1 25 | 29.5% | 7.2% | ||
| Q4 24 | 21.6% | 5.9% | ||
| Q3 24 | 22.7% | 19.4% | ||
| Q2 24 | 18.0% | 20.6% | ||
| Q1 24 | 18.8% | 5.8% |
净利率CSVRMAX
| Q4 25 | 11.6% | 2.0% | ||
| Q3 25 | 6.4% | 5.4% | ||
| Q2 25 | 11.5% | 6.4% | ||
| Q1 25 | 19.5% | -2.6% | ||
| Q4 24 | 10.1% | 8.0% | ||
| Q3 24 | 9.8% | 1.2% | ||
| Q2 24 | 6.1% | 4.7% | ||
| Q1 24 | 6.7% | -4.3% |
每股收益（稀释后）CSVRMAX
| Q4 25 | $0.76 | — | ||
| Q3 25 | $0.41 | — | ||
| Q2 25 | $0.74 | — | ||
| Q1 25 | $1.34 | — | ||
| Q4 24 | $0.62 | — | ||
| Q3 24 | $0.63 | — | ||
| Q2 24 | $0.40 | — | ||
| Q1 24 | $0.45 | — |
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 | $1.7M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $254.8M | $452.4M |
| 总资产 | $1.3B | $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CSVRMAX
| Q4 25 | $1.7M | $118.7M | ||
| Q3 25 | $1.2M | $107.5M | ||
| Q2 25 | $1.4M | $94.3M | ||
| Q1 25 | $4.6M | $89.1M | ||
| Q4 24 | $1.2M | $96.6M | ||
| Q3 24 | $1.3M | $83.8M | ||
| Q2 24 | $1.5M | $66.1M | ||
| Q1 24 | $1.7M | $82.1M |
总债务CSVRMAX
| 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CSVRMAX
| Q4 25 | $254.8M | $452.4M | ||
| Q3 25 | $242.1M | $448.1M | ||
| Q2 25 | $235.4M | $442.4M | ||
| Q1 25 | $223.1M | $433.5M | ||
| Q4 24 | $208.6M | $429.5M | ||
| Q3 24 | $198.1M | $423.1M | ||
| Q2 24 | $187.9M | $418.4M | ||
| Q1 24 | $179.6M | $412.0M |
总资产CSVRMAX
| Q4 25 | $1.3B | $582.5M | ||
| Q3 25 | $1.3B | $582.2M | ||
| Q2 25 | $1.3B | $574.8M | ||
| Q1 25 | $1.3B | $571.4M | ||
| Q4 24 | $1.3B | $581.6M | ||
| Q3 24 | $1.3B | $578.6M | ||
| Q2 24 | $1.3B | $571.4M | ||
| Q1 24 | $1.3B | $566.7M |
负债/权益比CSVRMAX
| 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 | $14.1M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $6.2M | $33.5M |
| 自由现金流率自由现金流/营收 | 5.9% | 47.1% |
| 资本支出强度资本支出/营收 | 7.5% | 10.4% |
| 现金转化率经营现金流/净利润 | 1.15× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $40.1M | $56.8M |
8季度趋势，按日历期对齐
经营现金流CSVRMAX
| Q4 25 | $14.1M | $40.9M | ||
| Q3 25 | $24.7M | $17.7M | ||
| Q2 25 | $8.1M | $4.6M | ||
| Q1 25 | $13.8M | $5.7M | ||
| Q4 24 | $9.3M | $59.7M | ||
| Q3 24 | $20.9M | $17.6M | ||
| Q2 24 | $2.2M | $15.9M | ||
| Q1 24 | $19.7M | $9.4M |
自由现金流CSVRMAX
| Q4 25 | $6.2M | $33.5M | ||
| Q3 25 | $18.0M | $16.4M | ||
| Q2 25 | $5.2M | $2.9M | ||
| Q1 25 | $10.6M | $4.0M | ||
| Q4 24 | $4.9M | $53.0M | ||
| Q3 24 | $16.2M | $16.3M | ||
| Q2 24 | $-1.4M | $14.0M | ||
| Q1 24 | $16.2M | $6.8M |
自由现金流率CSVRMAX
| Q4 25 | 5.9% | 47.1% | ||
| Q3 25 | 17.5% | 22.4% | ||
| Q2 25 | 5.1% | 4.0% | ||
| Q1 25 | 9.9% | 5.3% | ||
| Q4 24 | 5.0% | 73.2% | ||
| Q3 24 | 16.1% | 20.8% | ||
| Q2 24 | -1.4% | 17.8% | ||
| Q1 24 | 15.6% | 8.6% |
资本支出强度CSVRMAX
| Q4 25 | 7.5% | 10.4% | ||
| Q3 25 | 6.5% | 1.8% | ||
| Q2 25 | 2.8% | 2.2% | ||
| Q1 25 | 3.0% | 2.3% | ||
| Q4 24 | 4.5% | 9.1% | ||
| Q3 24 | 4.6% | 1.7% | ||
| Q2 24 | 3.5% | 2.4% | ||
| Q1 24 | 3.4% | 3.3% |
现金转化率CSVRMAX
| Q4 25 | 1.15× | 28.39× | ||
| Q3 25 | 3.76× | 4.45× | ||
| Q2 25 | 0.69× | 0.97× | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.94× | 10.28× | ||
| Q3 24 | 2.11× | 18.22× | ||
| Q2 24 | 0.34× | 4.29× | ||
| Q1 24 | 2.83× | — |
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
CSV
| Propertyand Merchandise | $47.8M | 45% |
| Cemetery Interment Rights | $24.8M | 23% |
| Merchandise | $18.9M | 18% |
| Other Revenue | $10.2M | 10% |
| Other | $3.9M | 4% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
