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中国东方航空（EML）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.的季度营收约是中国东方航空的1.3倍（$71.1M vs $55.3M），RE/MAX Holdings, Inc.净利率更高（2.0% vs 1.0%，领先1.0%），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -22.4%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $3.1M），过去两年中国东方航空的营收复合增速更高（-0.6% vs -4.7%）
中国东方航空是中国境内的头部航空公司，总部位于上海长宁区，与中国国际航空、中国南方航空并称为中国三大骨干航空公司，航线网络覆盖全球多个国家和地区，是中国民航市场的核心运营商之一。
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。
EML vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.3倍
$55.3M
营收增速更快
RMAX
高出20.5%
-22.4%
净利率更高
RMAX
高出1.0%
1.0%
自由现金流更多
RMAX
多$30.4M
$3.1M
两年增速更快
EML
近两年复合增速
-4.7%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $55.3M | $71.1M |
| 净利润 | $578.9K | $1.4M |
| 毛利率 | 22.3% | — |
| 营业利润率 | 3.1% | 13.1% |
| 净利率 | 1.0% | 2.0% |
| 营收同比 | -22.4% | -1.8% |
| 净利润同比 | 103.8% | -75.2% |
| 每股收益（稀释后） | $0.10 | — |
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EMLRMAX
| Q4 25 | — | $71.1M | ||
| Q3 25 | $55.3M | $73.2M | ||
| Q2 25 | $70.2M | $72.8M | ||
| Q1 25 | $63.3M | $74.5M | ||
| Q4 24 | $64.3M | $72.5M | ||
| Q3 24 | $71.3M | $78.5M | ||
| Q2 24 | $72.6M | $78.5M | ||
| Q1 24 | $64.6M | $78.3M |
净利润EMLRMAX
| Q4 25 | — | $1.4M | ||
| Q3 25 | $578.9K | $4.0M | ||
| Q2 25 | $3.4M | $4.7M | ||
| Q1 25 | $1.9M | $-2.0M | ||
| Q4 24 | $1.3M | $5.8M | ||
| Q3 24 | $-15.3M | $966.0K | ||
| Q2 24 | $3.5M | $3.7M | ||
| Q1 24 | $1.9M | $-3.4M |
毛利率EMLRMAX
| Q4 25 | — | — | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | 23.3% | — | ||
| Q1 25 | 22.4% | — | ||
| Q4 24 | 23.6% | — | ||
| Q3 24 | 25.5% | — | ||
| Q2 24 | 25.4% | — | ||
| Q1 24 | 23.9% | — |
营业利润率EMLRMAX
| Q4 25 | — | 13.1% | ||
| Q3 25 | 3.1% | 25.0% | ||
| Q2 25 | 4.5% | 19.3% | ||
| Q1 25 | 5.1% | 7.2% | ||
| Q4 24 | 6.1% | 5.9% | ||
| Q3 24 | 9.5% | 19.4% | ||
| Q2 24 | 8.3% | 20.6% | ||
| Q1 24 | 5.3% | 5.8% |
净利率EMLRMAX
| Q4 25 | — | 2.0% | ||
| Q3 25 | 1.0% | 5.4% | ||
| Q2 25 | 4.9% | 6.4% | ||
| Q1 25 | 3.1% | -2.6% | ||
| Q4 24 | 2.0% | 8.0% | ||
| Q3 24 | -21.5% | 1.2% | ||
| Q2 24 | 4.8% | 4.7% | ||
| Q1 24 | 3.0% | -4.3% |
每股收益（稀释后）EMLRMAX
| Q4 25 | — | — | ||
| Q3 25 | $0.10 | — | ||
| Q2 25 | $0.56 | — | ||
| Q1 25 | $0.32 | — | ||
| Q4 24 | $0.22 | — | ||
| Q3 24 | $-2.46 | — | ||
| Q2 24 | $0.56 | — | ||
| Q1 24 | $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 | $9.2M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $124.3M | $452.4M |
| 总资产 | $220.0M | $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EMLRMAX
| Q4 25 | — | $118.7M | ||
| Q3 25 | $9.2M | $107.5M | ||
| Q2 25 | $9.1M | $94.3M | ||
| Q1 25 | $10.2M | $89.1M | ||
| Q4 24 | $16.1M | $96.6M | ||
| Q3 24 | $9.7M | $83.8M | ||
| Q2 24 | $2.0M | $66.1M | ||
| Q1 24 | $2.1M | $82.1M |
总债务EMLRMAX
| Q4 25 | — | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | $42.2M | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
股东权益EMLRMAX
| Q4 25 | — | $452.4M | ||
| Q3 25 | $124.3M | $448.1M | ||
| Q2 25 | $124.4M | $442.4M | ||
| Q1 25 | $121.0M | $433.5M | ||
| Q4 24 | $120.7M | $429.5M | ||
| Q3 24 | $119.2M | $423.1M | ||
| Q2 24 | $136.5M | $418.4M | ||
| Q1 24 | $134.5M | $412.0M |
总资产EMLRMAX
| Q4 25 | — | $582.5M | ||
| Q3 25 | $220.0M | $582.2M | ||
| Q2 25 | $229.4M | $574.8M | ||
| Q1 25 | $232.3M | $571.4M | ||
| Q4 24 | $235.3M | $581.6M | ||
| Q3 24 | $244.2M | $578.6M | ||
| Q2 24 | $255.9M | $571.4M | ||
| Q1 24 | $253.9M | $566.7M |
负债/权益比EMLRMAX
| Q4 25 | — | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | 0.35× | 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 | $3.1M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $3.1M | $33.5M |
| 自由现金流率自由现金流/营收 | 5.5% | 47.1% |
| 资本支出强度资本支出/营收 | 0.1% | 10.4% |
| 现金转化率经营现金流/净利润 | 5.38× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $12.3M | $56.8M |
8季度趋势，按日历期对齐
经营现金流EMLRMAX
| Q4 25 | — | $40.9M | ||
| Q3 25 | $3.1M | $17.7M | ||
| Q2 25 | $3.8M | $4.6M | ||
| Q1 25 | $-1.8M | $5.7M | ||
| Q4 24 | $11.0M | $59.7M | ||
| Q3 24 | $-2.9M | $17.6M | ||
| Q2 24 | $8.4M | $15.9M | ||
| Q1 24 | $2.8M | $9.4M |
自由现金流EMLRMAX
| Q4 25 | — | $33.5M | ||
| Q3 25 | $3.1M | $16.4M | ||
| Q2 25 | $3.0M | $2.9M | ||
| Q1 25 | $-2.7M | $4.0M | ||
| Q4 24 | $9.0M | $53.0M | ||
| Q3 24 | $-7.7M | $16.3M | ||
| Q2 24 | $7.3M | $14.0M | ||
| Q1 24 | $1.1M | $6.8M |
自由现金流率EMLRMAX
| Q4 25 | — | 47.1% | ||
| Q3 25 | 5.5% | 22.4% | ||
| Q2 25 | 4.3% | 4.0% | ||
| Q1 25 | -4.3% | 5.3% | ||
| Q4 24 | 13.9% | 73.2% | ||
| Q3 24 | -10.8% | 20.8% | ||
| Q2 24 | 10.1% | 17.8% | ||
| Q1 24 | 1.7% | 8.6% |
资本支出强度EMLRMAX
| Q4 25 | — | 10.4% | ||
| Q3 25 | 0.1% | 1.8% | ||
| Q2 25 | 1.1% | 2.2% | ||
| Q1 25 | 1.3% | 2.3% | ||
| Q4 24 | 3.2% | 9.1% | ||
| Q3 24 | 6.7% | 1.7% | ||
| Q2 24 | 1.5% | 2.4% | ||
| Q1 24 | 2.6% | 3.3% |
现金转化率EMLRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | 5.38× | 4.45× | ||
| Q2 25 | 1.09× | 0.97× | ||
| Q1 25 | -0.95× | — | ||
| Q4 24 | 8.41× | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | 2.40× | 4.29× | ||
| Q1 24 | 1.43× | — |
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
EML
暂无分部数据
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
