vs
Energy Recovery, Inc.（ERII）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Energy Recovery, Inc.的1.1倍（$71.1M vs $66.9M），Energy Recovery, Inc.净利率更高（40.2% vs 2.0%，领先38.2%），Energy Recovery, Inc.同比增速更快（-0.3% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $6.4M），过去两年Energy Recovery, Inc.的营收复合增速更高（8.1% vs -4.7%）
Energy Recovery, Inc.是一家美国制造商，专注生产为水务及二氧化碳制冷行业提供的能量回收装置，产品可帮助相关行业在工艺流程中回收利用富余能量，助力客户降低能耗成本，提升运营的绿色低碳水平，在细分领域拥有领先的技术积累。
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。
ERII vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.1倍
$66.9M
营收增速更快
ERII
高出1.5%
-1.8%
净利率更高
ERII
高出38.2%
2.0%
自由现金流更多
RMAX
多$27.1M
$6.4M
两年增速更快
ERII
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $66.9M | $71.1M |
| 净利润 | $26.9M | $1.4M |
| 毛利率 | 67.2% | — |
| 营业利润率 | 46.8% | 13.1% |
| 净利率 | 40.2% | 2.0% |
| 营收同比 | -0.3% | -1.8% |
| 净利润同比 | 14.7% | -75.2% |
| 每股收益（稀释后） | $0.49 | — |
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ERIIRMAX
| Q4 25 | $66.9M | $71.1M | ||
| Q3 25 | $32.0M | $73.2M | ||
| Q2 25 | $28.1M | $72.8M | ||
| Q1 25 | — | $74.5M | ||
| Q4 24 | $67.1M | $72.5M | ||
| Q3 24 | $38.6M | $78.5M | ||
| Q2 24 | $27.2M | $78.5M | ||
| Q1 24 | $12.1M | $78.3M |
净利润ERIIRMAX
| Q4 25 | $26.9M | $1.4M | ||
| Q3 25 | $3.9M | $4.0M | ||
| Q2 25 | $2.1M | $4.7M | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | $23.5M | $5.8M | ||
| Q3 24 | $8.5M | $966.0K | ||
| Q2 24 | $-642.0K | $3.7M | ||
| Q1 24 | $-8.3M | $-3.4M |
毛利率ERIIRMAX
| Q4 25 | 67.2% | — | ||
| Q3 25 | 64.2% | — | ||
| Q2 25 | 64.0% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 70.2% | — | ||
| Q3 24 | 65.1% | — | ||
| Q2 24 | 64.6% | — | ||
| Q1 24 | 59.0% | — |
营业利润率ERIIRMAX
| Q4 25 | 46.8% | 13.1% | ||
| Q3 25 | 11.4% | 25.0% | ||
| Q2 25 | 5.3% | 19.3% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | 38.2% | 5.9% | ||
| Q3 24 | 18.3% | 19.4% | ||
| Q2 24 | -7.4% | 20.6% | ||
| Q1 24 | -90.4% | 5.8% |
净利率ERIIRMAX
| Q4 25 | 40.2% | 2.0% | ||
| Q3 25 | 12.1% | 5.4% | ||
| Q2 25 | 7.3% | 6.4% | ||
| Q1 25 | — | -2.6% | ||
| Q4 24 | 35.0% | 8.0% | ||
| Q3 24 | 22.0% | 1.2% | ||
| Q2 24 | -2.4% | 4.7% | ||
| Q1 24 | -68.3% | -4.3% |
每股收益（稀释后）ERIIRMAX
| Q4 25 | $0.49 | — | ||
| Q3 25 | $0.07 | — | ||
| Q2 25 | $0.04 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0.40 | — | ||
| Q3 24 | $0.15 | — | ||
| Q2 24 | $-0.01 | — | ||
| Q1 24 | $-0.14 | — |
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 | $75.2M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $206.2M | $452.4M |
| 总资产 | $231.5M | $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ERIIRMAX
| Q4 25 | $75.2M | $118.7M | ||
| Q3 25 | $70.4M | $107.5M | ||
| Q2 25 | $79.5M | $94.3M | ||
| Q1 25 | — | $89.1M | ||
| Q4 24 | $78.0M | $96.6M | ||
| Q3 24 | $118.6M | $83.8M | ||
| Q2 24 | $101.0M | $66.1M | ||
| Q1 24 | $117.4M | $82.1M |
总债务ERIIRMAX
| 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ERIIRMAX
| Q4 25 | $206.2M | $452.4M | ||
| Q3 25 | $180.8M | $448.1M | ||
| Q2 25 | $185.2M | $442.4M | ||
| Q1 25 | — | $433.5M | ||
| Q4 24 | $210.0M | $429.5M | ||
| Q3 24 | $233.9M | $423.1M | ||
| Q2 24 | $218.5M | $418.4M | ||
| Q1 24 | $216.0M | $412.0M |
总资产ERIIRMAX
| Q4 25 | $231.5M | $582.5M | ||
| Q3 25 | $209.6M | $582.2M | ||
| Q2 25 | $212.3M | $574.8M | ||
| Q1 25 | — | $571.4M | ||
| Q4 24 | $242.8M | $581.6M | ||
| Q3 24 | $262.7M | $578.6M | ||
| Q2 24 | $249.0M | $571.4M | ||
| Q1 24 | $244.3M | $566.7M |
负债/权益比ERIIRMAX
| 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 | $7.1M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $6.4M | $33.5M |
| 自由现金流率自由现金流/营收 | 9.6% | 47.1% |
| 资本支出强度资本支出/营收 | 1.0% | 10.4% |
| 现金转化率经营现金流/净利润 | 0.26× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $15.8M | $56.8M |
8季度趋势，按日历期对齐
经营现金流ERIIRMAX
| Q4 25 | $7.1M | $40.9M | ||
| Q3 25 | $-3.1M | $17.7M | ||
| Q2 25 | $4.1M | $4.6M | ||
| Q1 25 | — | $5.7M | ||
| Q4 24 | $9.0M | $59.7M | ||
| Q3 24 | $-3.0M | $17.6M | ||
| Q2 24 | $8.1M | $15.9M | ||
| Q1 24 | $6.5M | $9.4M |
自由现金流ERIIRMAX
| Q4 25 | $6.4M | $33.5M | ||
| Q3 25 | $-3.5M | $16.4M | ||
| Q2 25 | $4.0M | $2.9M | ||
| Q1 25 | — | $4.0M | ||
| Q4 24 | $8.9M | $53.0M | ||
| Q3 24 | $-3.2M | $16.3M | ||
| Q2 24 | $7.9M | $14.0M | ||
| Q1 24 | $5.7M | $6.8M |
自由现金流率ERIIRMAX
| Q4 25 | 9.6% | 47.1% | ||
| Q3 25 | -10.9% | 22.4% | ||
| Q2 25 | 14.3% | 4.0% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | 13.2% | 73.2% | ||
| Q3 24 | -8.2% | 20.8% | ||
| Q2 24 | 28.9% | 17.8% | ||
| Q1 24 | 46.9% | 8.6% |
资本支出强度ERIIRMAX
| Q4 25 | 1.0% | 10.4% | ||
| Q3 25 | 1.1% | 1.8% | ||
| Q2 25 | 0.5% | 2.2% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | 0.2% | 9.1% | ||
| Q3 24 | 0.4% | 1.7% | ||
| Q2 24 | 0.7% | 2.4% | ||
| Q1 24 | 6.8% | 3.3% |
现金转化率ERIIRMAX
| Q4 25 | 0.26× | 28.39× | ||
| Q3 25 | -0.81× | 4.45× | ||
| Q2 25 | 2.02× | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.38× | 10.28× | ||
| Q3 24 | -0.35× | 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
ERII
| Water Segment | $38.6M | 58% |
| Other | $11.0M | 16% |
| Original Equipment Manufacturer | $10.6M | 16% |
| Aftermarket | $6.6M | 10% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
