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Emerald Holding, Inc.（EEX）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
Emerald Holding, Inc.的季度营收约是RE/MAX Holdings, Inc.的1.9倍（$132.7M vs $71.1M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -22.8%，领先24.8%），Emerald Holding, Inc.同比增速更快（24.3% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $11.7M），过去两年Emerald Holding, Inc.的营收复合增速更高（-0.3% vs -4.7%）
TVS Emerald Haven地产有限公司是一家印度房地产开发企业，总部位于泰米尔纳德邦金奈，为TVS控股旗下子公司，专注于打造可持续居住社区以及各类城市开发项目，在印度本土房地产业务领域拥有清晰的业务定位。
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。
EEX vs RMAX — 直观对比
营收规模更大
EEX
是对方的1.9倍
$71.1M
营收增速更快
EEX
高出26.1%
-1.8%
净利率更高
RMAX
高出24.8%
-22.8%
自由现金流更多
RMAX
多$21.8M
$11.7M
两年增速更快
EEX
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $132.7M | $71.1M |
| 净利润 | $-30.2M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | -11.8% | 13.1% |
| 净利率 | -22.8% | 2.0% |
| 营收同比 | 24.3% | -1.8% |
| 净利润同比 | -692.2% | -75.2% |
| 每股收益（稀释后） | $-0.15 | — |
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EEXRMAX
| Q4 25 | $132.7M | $71.1M | ||
| Q3 25 | $77.5M | $73.2M | ||
| Q2 25 | $105.5M | $72.8M | ||
| Q1 25 | $147.7M | $74.5M | ||
| Q4 24 | $106.8M | $72.5M | ||
| Q3 24 | $72.6M | $78.5M | ||
| Q2 24 | $86.0M | $78.5M | ||
| Q1 24 | $133.4M | $78.3M |
净利润EEXRMAX
| Q4 25 | $-30.2M | $1.4M | ||
| Q3 25 | $-14.4M | $4.0M | ||
| Q2 25 | $-1.4M | $4.7M | ||
| Q1 25 | $15.3M | $-2.0M | ||
| Q4 24 | $5.1M | $5.8M | ||
| Q3 24 | $-11.1M | $966.0K | ||
| Q2 24 | $-2.8M | $3.7M | ||
| Q1 24 | $11.0M | $-3.4M |
营业利润率EEXRMAX
| Q4 25 | -11.8% | 13.1% | ||
| Q3 25 | -10.1% | 25.0% | ||
| Q2 25 | 9.7% | 19.3% | ||
| Q1 25 | 24.2% | 7.2% | ||
| Q4 24 | 19.5% | 5.9% | ||
| Q3 24 | -6.5% | 19.4% | ||
| Q2 24 | 7.4% | 20.6% | ||
| Q1 24 | 18.2% | 5.8% |
净利率EEXRMAX
| Q4 25 | -22.8% | 2.0% | ||
| Q3 25 | -18.6% | 5.4% | ||
| Q2 25 | -1.3% | 6.4% | ||
| Q1 25 | 10.4% | -2.6% | ||
| Q4 24 | 4.8% | 8.0% | ||
| Q3 24 | -15.3% | 1.2% | ||
| Q2 24 | -3.3% | 4.7% | ||
| Q1 24 | 8.2% | -4.3% |
每股收益（稀释后）EEXRMAX
| Q4 25 | $-0.15 | — | ||
| Q3 25 | $-0.07 | — | ||
| Q2 25 | $-0.01 | — | ||
| Q1 25 | $0.08 | — | ||
| Q4 24 | $0.01 | — | ||
| Q3 24 | $-0.05 | — | ||
| Q2 24 | $-0.03 | — | ||
| Q1 24 | $0.00 | — |
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 | $100.9M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $338.8M | $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EEXRMAX
| Q4 25 | $100.9M | $118.7M | ||
| Q3 25 | $95.4M | $107.5M | ||
| Q2 25 | $156.4M | $94.3M | ||
| Q1 25 | $276.8M | $89.1M | ||
| Q4 24 | $194.8M | $96.6M | ||
| Q3 24 | $188.9M | $83.8M | ||
| Q2 24 | $193.2M | $66.1M | ||
| Q1 24 | $186.8M | $82.1M |
总债务EEXRMAX
| 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EEXRMAX
| Q4 25 | $338.8M | $452.4M | ||
| Q3 25 | $369.5M | $448.1M | ||
| Q2 25 | $389.4M | $442.4M | ||
| Q1 25 | $392.1M | $433.5M | ||
| Q4 24 | $385.9M | $429.5M | ||
| Q3 24 | $391.1M | $423.1M | ||
| Q2 24 | $407.6M | $418.4M | ||
| Q1 24 | $-90.7M | $412.0M |
总资产EEXRMAX
| 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 | $1.0B | $581.6M | ||
| Q3 24 | $1.1B | $578.6M | ||
| Q2 24 | $1.1B | $571.4M | ||
| Q1 24 | $1.1B | $566.7M |
负债/权益比EEXRMAX
| 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 | $12.3M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $11.7M | $33.5M |
| 自由现金流率自由现金流/营收 | 8.8% | 47.1% |
| 资本支出强度资本支出/营收 | 0.5% | 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 | $41.4M | $56.8M |
8季度趋势，按日历期对齐
经营现金流EEXRMAX
| Q4 25 | $12.3M | $40.9M | ||
| Q3 25 | $1.8M | $17.7M | ||
| Q2 25 | $15.9M | $4.6M | ||
| Q1 25 | $12.6M | $5.7M | ||
| Q4 24 | $20.6M | $59.7M | ||
| Q3 24 | $9.1M | $17.6M | ||
| Q2 24 | $9.8M | $15.9M | ||
| Q1 24 | $7.3M | $9.4M |
自由现金流EEXRMAX
| Q4 25 | $11.7M | $33.5M | ||
| Q3 25 | $1.5M | $16.4M | ||
| Q2 25 | $15.8M | $2.9M | ||
| Q1 25 | $12.4M | $4.0M | ||
| Q4 24 | $19.9M | $53.0M | ||
| Q3 24 | $9.0M | $16.3M | ||
| Q2 24 | $9.6M | $14.0M | ||
| Q1 24 | $7.0M | $6.8M |
自由现金流率EEXRMAX
| Q4 25 | 8.8% | 47.1% | ||
| Q3 25 | 1.9% | 22.4% | ||
| Q2 25 | 15.0% | 4.0% | ||
| Q1 25 | 8.4% | 5.3% | ||
| Q4 24 | 18.6% | 73.2% | ||
| Q3 24 | 12.4% | 20.8% | ||
| Q2 24 | 11.2% | 17.8% | ||
| Q1 24 | 5.2% | 8.6% |
资本支出强度EEXRMAX
| Q4 25 | 0.5% | 10.4% | ||
| Q3 25 | 0.4% | 1.8% | ||
| Q2 25 | 0.1% | 2.2% | ||
| Q1 25 | 0.1% | 2.3% | ||
| Q4 24 | 0.7% | 9.1% | ||
| Q3 24 | 0.1% | 1.7% | ||
| Q2 24 | 0.2% | 2.4% | ||
| Q1 24 | 0.2% | 3.3% |
现金转化率EEXRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | 0.82× | — | ||
| Q4 24 | 4.04× | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| Q1 24 | 0.66× | — |
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
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
