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Definitive Healthcare Corp.（DH）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Definitive Healthcare Corp.的1.2倍（$71.1M vs $61.5M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -15.1%，领先17.2%），Definitive Healthcare Corp.同比增速更快（-1.2% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $-1.7M），过去两年Definitive Healthcare Corp.的营收复合增速更高（-1.5% vs -4.7%）
该企业是一家美国公司，主打非处方医疗健康产品与家居清洁产品的营销和分销。公司于1996年由美德泰产品公司、威望品牌国际与斯皮克Span公司合并成立，总部设在纽约塔里敦，在弗吉尼亚州林奇堡设有生产工厂。
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。
DH vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.2倍
$61.5M
营收增速更快
DH
高出0.6%
-1.8%
净利率更高
RMAX
高出17.2%
-15.1%
自由现金流更多
RMAX
多$35.2M
$-1.7M
两年增速更快
DH
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $61.5M | $71.1M |
| 净利润 | $-9.3M | $1.4M |
| 毛利率 | 76.2% | — |
| 营业利润率 | -43.3% | 13.1% |
| 净利率 | -15.1% | 2.0% |
| 营收同比 | -1.2% | -1.8% |
| 净利润同比 | 84.2% | -75.2% |
| 每股收益（稀释后） | $-0.14 | — |
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DHRMAX
| Q4 25 | $61.5M | $71.1M | ||
| Q3 25 | $60.0M | $73.2M | ||
| Q2 25 | $60.8M | $72.8M | ||
| Q1 25 | $59.2M | $74.5M | ||
| Q4 24 | $62.3M | $72.5M | ||
| Q3 24 | $62.7M | $78.5M | ||
| Q2 24 | $63.7M | $78.5M | ||
| Q1 24 | $63.5M | $78.3M |
净利润DHRMAX
| Q4 25 | $-9.3M | $1.4M | ||
| Q3 25 | $-14.8M | $4.0M | ||
| Q2 25 | $-7.6M | $4.7M | ||
| Q1 25 | $-107.2M | $-2.0M | ||
| Q4 24 | $-59.1M | $5.8M | ||
| Q3 24 | $-130.9M | $966.0K | ||
| Q2 24 | $-213.6M | $3.7M | ||
| Q1 24 | $-9.5M | $-3.4M |
毛利率DHRMAX
| Q4 25 | 76.2% | — | ||
| Q3 25 | 76.6% | — | ||
| Q2 25 | 76.7% | — | ||
| Q1 25 | 73.9% | — | ||
| Q4 24 | 76.4% | — | ||
| Q3 24 | 78.2% | — | ||
| Q2 24 | 79.2% | — | ||
| Q1 24 | 79.4% | — |
营业利润率DHRMAX
| Q4 25 | -43.3% | 13.1% | ||
| Q3 25 | -14.5% | 25.0% | ||
| Q2 25 | -6.9% | 19.3% | ||
| Q1 25 | -312.2% | 7.2% | ||
| Q4 24 | -159.8% | 5.9% | ||
| Q3 24 | -359.5% | 19.4% | ||
| Q2 24 | -579.9% | 20.6% | ||
| Q1 24 | -25.6% | 5.8% |
净利率DHRMAX
| Q4 25 | -15.1% | 2.0% | ||
| Q3 25 | -24.7% | 5.4% | ||
| Q2 25 | -12.4% | 6.4% | ||
| Q1 25 | -181.2% | -2.6% | ||
| Q4 24 | -94.8% | 8.0% | ||
| Q3 24 | -208.8% | 1.2% | ||
| Q2 24 | -335.2% | 4.7% | ||
| Q1 24 | -15.0% | -4.3% |
每股收益（稀释后）DHRMAX
| Q4 25 | $-0.14 | — | ||
| Q3 25 | $-0.14 | — | ||
| Q2 25 | $-0.07 | — | ||
| Q1 25 | $-0.95 | — | ||
| Q4 24 | $-0.53 | — | ||
| Q3 24 | $-1.12 | — | ||
| Q2 24 | $-1.81 | — | ||
| Q1 24 | $-0.08 | — |
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 | $180.9M | $118.7M |
| 总债务越低越好 | $156.1M | $432.2M |
| 股东权益账面价值 | $379.0M | $452.4M |
| 总资产 | $735.5M | $582.5M |
| 负债/权益比越低杠杆越低 | 0.41× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资DHRMAX
| Q4 25 | $180.9M | $118.7M | ||
| Q3 25 | $185.9M | $107.5M | ||
| Q2 25 | $184.2M | $94.3M | ||
| Q1 25 | $200.7M | $89.1M | ||
| Q4 24 | $290.2M | $96.6M | ||
| Q3 24 | $305.4M | $83.8M | ||
| Q2 24 | $296.5M | $66.1M | ||
| Q1 24 | $295.2M | $82.1M |
总债务DHRMAX
| Q4 25 | $156.1M | $432.2M | ||
| Q3 25 | $158.2M | $433.3M | ||
| Q2 25 | $160.3M | $434.4M | ||
| Q1 25 | $162.4M | $435.3M | ||
| Q4 24 | $229.4M | $436.2M | ||
| Q3 24 | $232.7M | $437.2M | ||
| Q2 24 | $236.0M | $438.1M | ||
| Q1 24 | $239.3M | $439.0M |
股东权益DHRMAX
| Q4 25 | $379.0M | $452.4M | ||
| Q3 25 | $389.7M | $448.1M | ||
| Q2 25 | $411.2M | $442.4M | ||
| Q1 25 | $435.9M | $433.5M | ||
| Q4 24 | $607.2M | $429.5M | ||
| Q3 24 | $695.6M | $423.1M | ||
| Q2 24 | $886.3M | $418.4M | ||
| Q1 24 | $1.2B | $412.0M |
总资产DHRMAX
| Q4 25 | $735.5M | $582.5M | ||
| Q3 25 | $755.5M | $582.2M | ||
| Q2 25 | $770.1M | $574.8M | ||
| Q1 25 | $808.7M | $571.4M | ||
| Q4 24 | $1.1B | $581.6M | ||
| Q3 24 | $1.2B | $578.6M | ||
| Q2 24 | $1.4B | $571.4M | ||
| Q1 24 | $1.8B | $566.7M |
负债/权益比DHRMAX
| Q4 25 | 0.41× | 0.96× | ||
| Q3 25 | 0.41× | 0.97× | ||
| Q2 25 | 0.39× | 0.98× | ||
| Q1 25 | 0.37× | 1.00× | ||
| Q4 24 | 0.38× | 1.02× | ||
| Q3 24 | 0.33× | 1.03× | ||
| Q2 24 | 0.27× | 1.05× | ||
| Q1 24 | 0.20× | 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 | $2.7M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $-1.7M | $33.5M |
| 自由现金流率自由现金流/营收 | -2.8% | 47.1% |
| 资本支出强度资本支出/营收 | 7.2% | 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 | $37.1M | $56.8M |
8季度趋势，按日历期对齐
经营现金流DHRMAX
| Q4 25 | $2.7M | $40.9M | ||
| Q3 25 | $15.7M | $17.7M | ||
| Q2 25 | $9.3M | $4.6M | ||
| Q1 25 | $26.1M | $5.7M | ||
| Q4 24 | $8.1M | $59.7M | ||
| Q3 24 | $19.4M | $17.6M | ||
| Q2 24 | $14.0M | $15.9M | ||
| Q1 24 | $16.6M | $9.4M |
自由现金流DHRMAX
| Q4 25 | $-1.7M | $33.5M | ||
| Q3 25 | $13.4M | $16.4M | ||
| Q2 25 | $7.0M | $2.9M | ||
| Q1 25 | $18.4M | $4.0M | ||
| Q4 24 | $-2.8M | $53.0M | ||
| Q3 24 | $18.7M | $16.3M | ||
| Q2 24 | $13.6M | $14.0M | ||
| Q1 24 | $16.3M | $6.8M |
自由现金流率DHRMAX
| Q4 25 | -2.8% | 47.1% | ||
| Q3 25 | 22.3% | 22.4% | ||
| Q2 25 | 11.5% | 4.0% | ||
| Q1 25 | 31.0% | 5.3% | ||
| Q4 24 | -4.4% | 73.2% | ||
| Q3 24 | 29.8% | 20.8% | ||
| Q2 24 | 21.4% | 17.8% | ||
| Q1 24 | 25.7% | 8.6% |
资本支出强度DHRMAX
| Q4 25 | 7.2% | 10.4% | ||
| Q3 25 | 3.8% | 1.8% | ||
| Q2 25 | 3.8% | 2.2% | ||
| Q1 25 | 13.0% | 2.3% | ||
| Q4 24 | 17.5% | 9.1% | ||
| Q3 24 | 1.2% | 1.7% | ||
| Q2 24 | 0.6% | 2.4% | ||
| Q1 24 | 0.4% | 3.3% |
现金转化率DHRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 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
DH
| Subscription Services | $58.5M | 95% |
| Professional Services | $3.0M | 5% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
