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First American Financial Corp（FAF）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
First American Financial Corp的季度营收约是利氏兄弟拍卖行的1.7倍（$2.0B vs $1.2B），First American Financial Corp净利率更高（10.3% vs 9.1%，领先1.2%），First American Financial Corp同比增速更快（21.6% vs 5.4%），First American Financial Corp自由现金流更多（$324.5M vs $186.5M），过去两年First American Financial Corp的营收复合增速更高（19.9% vs 6.3%）
第一美国金融公司是美国知名金融服务企业，主要面向房地产及抵押贷款行业开展业务，核心服务涵盖产权保险、房产交易与抵押业务相关的交割结算服务，在全球地产金融服务领域具备成熟的服务能力与较高的行业认可度。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
FAF vs RBA — 直观对比
营收规模更大
FAF
是对方的1.7倍
$1.2B
营收增速更快
FAF
高出16.2%
5.4%
净利率更高
FAF
高出1.2%
9.1%
自由现金流更多
FAF
多$138.0M
$186.5M
两年增速更快
FAF
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.2B |
| 净利润 | $211.9M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 14.0% | 14.7% |
| 净利率 | 10.3% | 9.1% |
| 营收同比 | 21.6% | 5.4% |
| 净利润同比 | 192.7% | -7.4% |
| 每股收益（稀释后） | $2.04 | $0.53 |
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FAFRBA
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $2.0B | $1.1B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.6B | $1.1B | ||
| Q4 24 | $1.7B | $1.1B | ||
| Q3 24 | $1.4B | $981.8M | ||
| Q2 24 | $1.6B | $1.1B | ||
| Q1 24 | $1.4B | $1.1B |
净利润FAFRBA
| Q4 25 | $211.9M | $109.7M | ||
| Q3 25 | $189.6M | $95.5M | ||
| Q2 25 | $146.1M | $109.8M | ||
| Q1 25 | $74.2M | $113.4M | ||
| Q4 24 | $72.4M | $118.5M | ||
| Q3 24 | $-104.0M | $76.1M | ||
| Q2 24 | $116.0M | $111.1M | ||
| Q1 24 | $46.7M | $107.4M |
营业利润率FAFRBA
| Q4 25 | 14.0% | 14.7% | ||
| Q3 25 | 12.5% | 14.5% | ||
| Q2 25 | 10.6% | 15.9% | ||
| Q1 25 | 6.1% | 17.1% | ||
| Q4 24 | 5.9% | 18.1% | ||
| Q3 24 | -10.3% | 15.6% | ||
| Q2 24 | 9.4% | 18.4% | ||
| Q1 24 | 4.1% | 18.7% |
净利率FAFRBA
| Q4 25 | 10.3% | 9.1% | ||
| Q3 25 | 9.6% | 8.7% | ||
| Q2 25 | 7.9% | 9.3% | ||
| Q1 25 | 4.7% | 10.2% | ||
| Q4 24 | 4.3% | 10.4% | ||
| Q3 24 | -7.4% | 7.8% | ||
| Q2 24 | 7.2% | 10.1% | ||
| Q1 24 | 3.3% | 10.1% |
每股收益（稀释后）FAFRBA
| Q4 25 | $2.04 | $0.53 | ||
| Q3 25 | $1.84 | $0.43 | ||
| Q2 25 | $1.41 | $0.53 | ||
| Q1 25 | $0.71 | $0.55 | ||
| Q4 24 | $0.70 | $0.58 | ||
| Q3 24 | $-1.00 | $0.36 | ||
| Q2 24 | $1.11 | $0.54 | ||
| Q1 24 | $0.45 | $0.53 |
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 | $1.4B | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $5.5B | $5.6B |
| 总资产 | $16.2B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资FAFRBA
| Q4 25 | $1.4B | $531.5M | ||
| Q3 25 | $2.9B | $674.7M | ||
| Q2 25 | $2.0B | $710.2M | ||
| Q1 25 | $2.0B | $578.1M | ||
| Q4 24 | $1.7B | $533.9M | ||
| Q3 24 | $3.0B | $650.7M | ||
| Q2 24 | $2.0B | $599.5M | ||
| Q1 24 | $1.5B | $462.8M |
总债务FAFRBA
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益FAFRBA
| Q4 25 | $5.5B | $5.6B | ||
| Q3 25 | $5.3B | $5.5B | ||
| Q2 25 | $5.1B | $5.5B | ||
| Q1 25 | $5.0B | $5.3B | ||
| Q4 24 | $4.9B | $5.2B | ||
| Q3 24 | $5.1B | $5.2B | ||
| Q2 24 | $4.8B | $5.2B | ||
| Q1 24 | $4.8B | $5.1B |
总资产FAFRBA
| Q4 25 | $16.2B | $12.1B | ||
| Q3 25 | $17.6B | $12.2B | ||
| Q2 25 | $16.3B | $12.2B | ||
| Q1 25 | $15.5B | $11.9B | ||
| Q4 24 | $14.9B | $11.8B | ||
| Q3 24 | $16.6B | $11.9B | ||
| Q2 24 | $15.2B | $12.1B | ||
| Q1 24 | $14.7B | $12.0B |
负债/权益比FAFRBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.58× |
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 | $369.3M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $324.5M | $186.5M |
| 自由现金流率自由现金流/营收 | 15.8% | 15.5% |
| 资本支出强度资本支出/营收 | 2.2% | 5.7% |
| 现金转化率经营现金流/净利润 | 1.74× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $762.5M | $719.2M |
8季度趋势，按日历期对齐
经营现金流FAFRBA
| Q4 25 | $369.3M | $255.2M | ||
| Q3 25 | $272.5M | $239.7M | ||
| Q2 25 | $361.8M | $326.5M | ||
| Q1 25 | $-52.8M | $156.8M | ||
| Q4 24 | $324.6M | $184.5M | ||
| Q3 24 | $236.9M | $285.4M | ||
| Q2 24 | $266.7M | $337.3M | ||
| Q1 24 | $69.3M | $124.8M |
自由现金流FAFRBA
| Q4 25 | $324.5M | $186.5M | ||
| Q3 25 | $223.1M | $188.5M | ||
| Q2 25 | $309.4M | $241.7M | ||
| Q1 25 | $-94.5M | $102.5M | ||
| Q4 24 | $266.2M | $127.9M | ||
| Q3 24 | $185.4M | $248.5M | ||
| Q2 24 | $210.0M | $308.6M | ||
| Q1 24 | $17.6M | $79.6M |
自由现金流率FAFRBA
| Q4 25 | 15.8% | 15.5% | ||
| Q3 25 | 11.3% | 17.3% | ||
| Q2 25 | 16.8% | 20.4% | ||
| Q1 25 | -6.0% | 9.2% | ||
| Q4 24 | 15.8% | 11.2% | ||
| Q3 24 | 13.2% | 25.3% | ||
| Q2 24 | 13.0% | 28.2% | ||
| Q1 24 | 1.2% | 7.5% |
资本支出强度FAFRBA
| Q4 25 | 2.2% | 5.7% | ||
| Q3 25 | 2.5% | 4.7% | ||
| Q2 25 | 2.8% | 7.2% | ||
| Q1 25 | 2.6% | 4.9% | ||
| Q4 24 | 3.5% | 5.0% | ||
| Q3 24 | 3.7% | 3.8% | ||
| Q2 24 | 3.5% | 2.6% | ||
| Q1 24 | 3.6% | 4.2% |
现金转化率FAFRBA
| Q4 25 | 1.74× | 2.33× | ||
| Q3 25 | 1.44× | 2.51× | ||
| Q2 25 | 2.48× | 2.97× | ||
| Q1 25 | -0.71× | 1.38× | ||
| Q4 24 | 4.48× | 1.56× | ||
| Q3 24 | — | 3.75× | ||
| Q2 24 | 2.30× | 3.04× | ||
| Q1 24 | 1.48× | 1.16× |
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
FAF
| Title Insurance And Services | $1.9B | 94% |
| Home Warranty | $110.3M | 5% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
