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Freedom Holding Corp.（FRHC）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
利氏兄弟拍卖行的季度营收约是Freedom Holding Corp.的1.9倍（$1.2B vs $628.6M），Freedom Holding Corp.净利率更高（12.1% vs 9.1%，领先3.0%），利氏兄弟拍卖行同比增速更快（5.4% vs -4.1%），Freedom Holding Corp.自由现金流更多（$651.7M vs $186.5M），过去两年Freedom Holding Corp.的营收复合增速更高（16.3% vs 6.3%）
Freedom Holding Corp.是在美国内华达州注册的投资集团，业务覆盖零售证券经纪交易、资产管理、资本市场服务、投研咨询、投行承销、抵押贷款、保险、银行及其他消费金融服务，核心布局美股、欧洲及以哈萨克斯坦为核心的中亚市场。
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。
FRHC vs RBA — 直观对比
营收规模更大
RBA
是对方的1.9倍
$628.6M
营收增速更快
RBA
高出9.5%
-4.1%
净利率更高
FRHC
高出3.0%
9.1%
自由现金流更多
FRHC
多$465.2M
$186.5M
两年增速更快
FRHC
近两年复合增速
6.3%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $628.6M | $1.2B |
| 净利润 | $76.2M | $109.7M |
| 毛利率 | 96.0% | — |
| 营业利润率 | 14.9% | 14.7% |
| 净利率 | 12.1% | 9.1% |
| 营收同比 | -4.1% | 5.4% |
| 净利润同比 | -2.6% | -7.4% |
| 每股收益（稀释后） | $1.25 | $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FRHCRBA
| Q4 25 | $628.6M | $1.2B | ||
| Q3 25 | $526.1M | $1.1B | ||
| Q2 25 | $533.4M | $1.2B | ||
| Q1 25 | $363.7M | $1.1B | ||
| Q4 24 | $655.2M | $1.1B | ||
| Q3 24 | $580.9M | $981.8M | ||
| Q2 24 | $450.7M | $1.1B | ||
| Q1 24 | $464.7M | $1.1B |
净利润FRHCRBA
| Q4 25 | $76.2M | $109.7M | ||
| Q3 25 | $38.7M | $95.5M | ||
| Q2 25 | $30.4M | $109.8M | ||
| Q1 25 | $-142.7M | $113.4M | ||
| Q4 24 | $78.3M | $118.5M | ||
| Q3 24 | $114.7M | $76.1M | ||
| Q2 24 | $34.4M | $111.1M | ||
| Q1 24 | $95.2M | $107.4M |
毛利率FRHCRBA
| Q4 25 | 96.0% | — | ||
| Q3 25 | 97.1% | — | ||
| Q2 25 | 97.4% | — | ||
| Q1 25 | 96.6% | — | ||
| Q4 24 | 98.6% | — | ||
| Q3 24 | 99.1% | — | ||
| Q2 24 | 99.0% | — | ||
| Q1 24 | — | — |
营业利润率FRHCRBA
| Q4 25 | 14.9% | 14.7% | ||
| Q3 25 | 11.5% | 14.5% | ||
| Q2 25 | 7.6% | 15.9% | ||
| Q1 25 | -42.7% | 17.1% | ||
| Q4 24 | 15.0% | 18.1% | ||
| Q3 24 | 22.1% | 15.6% | ||
| Q2 24 | 9.2% | 18.4% | ||
| Q1 24 | 22.5% | 18.7% |
净利率FRHCRBA
| Q4 25 | 12.1% | 9.1% | ||
| Q3 25 | 7.4% | 8.7% | ||
| Q2 25 | 5.7% | 9.3% | ||
| Q1 25 | -39.2% | 10.2% | ||
| Q4 24 | 11.9% | 10.4% | ||
| Q3 24 | 19.7% | 7.8% | ||
| Q2 24 | 7.6% | 10.1% | ||
| Q1 24 | 20.5% | 10.1% |
每股收益（稀释后）FRHCRBA
| Q4 25 | $1.25 | $0.53 | ||
| Q3 25 | $0.63 | $0.43 | ||
| Q2 25 | $0.50 | $0.53 | ||
| Q1 25 | $-2.35 | $0.55 | ||
| Q4 24 | $1.29 | $0.58 | ||
| Q3 24 | $1.89 | $0.36 | ||
| Q2 24 | $0.57 | $0.54 | ||
| Q1 24 | $1.60 | $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 | $869.2M | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $1.4B | $5.6B |
| 总资产 | $12.4B | $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FRHCRBA
| Q4 25 | $869.2M | $531.5M | ||
| Q3 25 | $636.0M | $674.7M | ||
| Q2 25 | $567.9M | $710.2M | ||
| Q1 25 | $837.3M | $578.1M | ||
| Q4 24 | $577.9M | $533.9M | ||
| Q3 24 | $569.2M | $650.7M | ||
| Q2 24 | $718.7M | $599.5M | ||
| Q1 24 | $545.1M | $462.8M |
总债务FRHCRBA
| 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FRHCRBA
| Q4 25 | $1.4B | $5.6B | ||
| Q3 25 | $1.2B | $5.5B | ||
| Q2 25 | $1.2B | $5.5B | ||
| Q1 25 | $1.2B | $5.3B | ||
| Q4 24 | $1.3B | $5.2B | ||
| Q3 24 | $1.3B | $5.2B | ||
| Q2 24 | $1.1B | $5.2B | ||
| Q1 24 | $1.2B | $5.1B |
总资产FRHCRBA
| Q4 25 | $12.4B | $12.1B | ||
| Q3 25 | $10.3B | $12.2B | ||
| Q2 25 | $9.7B | $12.2B | ||
| Q1 25 | $9.9B | $11.9B | ||
| Q4 24 | $9.1B | $11.8B | ||
| Q3 24 | $8.8B | $11.9B | ||
| Q2 24 | $8.5B | $12.1B | ||
| Q1 24 | $8.3B | $12.0B |
负债/权益比FRHCRBA
| 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 | $717.8M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $651.7M | $186.5M |
| 自由现金流率自由现金流/营收 | 103.7% | 15.5% |
| 资本支出强度资本支出/营收 | 10.5% | 5.7% |
| 现金转化率经营现金流/净利润 | 9.42× | 2.33× |
| 过去12个月自由现金流最近4个季度 | — | $719.2M |
8季度趋势，按日历期对齐
经营现金流FRHCRBA
| Q4 25 | $717.8M | $255.2M | ||
| Q3 25 | $535.3M | $239.7M | ||
| Q2 25 | $480.8M | $326.5M | ||
| Q1 25 | $1.3B | $156.8M | ||
| Q4 24 | $-72.8M | $184.5M | ||
| Q3 24 | $-438.0M | $285.4M | ||
| Q2 24 | $854.1M | $337.3M | ||
| Q1 24 | $309.0M | $124.8M |
自由现金流FRHCRBA
| Q4 25 | $651.7M | $186.5M | ||
| Q3 25 | $456.4M | $188.5M | ||
| Q2 25 | $450.0M | $241.7M | ||
| Q1 25 | — | $102.5M | ||
| Q4 24 | $-92.7M | $127.9M | ||
| Q3 24 | $-447.5M | $248.5M | ||
| Q2 24 | $829.9M | $308.6M | ||
| Q1 24 | — | $79.6M |
自由现金流率FRHCRBA
| Q4 25 | 103.7% | 15.5% | ||
| Q3 25 | 86.7% | 17.3% | ||
| Q2 25 | 84.4% | 20.4% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | -14.1% | 11.2% | ||
| Q3 24 | -77.0% | 25.3% | ||
| Q2 24 | 184.1% | 28.2% | ||
| Q1 24 | — | 7.5% |
资本支出强度FRHCRBA
| Q4 25 | 10.5% | 5.7% | ||
| Q3 25 | 15.0% | 4.7% | ||
| Q2 25 | 5.8% | 7.2% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | 3.0% | 5.0% | ||
| Q3 24 | 1.6% | 3.8% | ||
| Q2 24 | 5.4% | 2.6% | ||
| Q1 24 | — | 4.2% |
现金转化率FRHCRBA
| Q4 25 | 9.42× | 2.33× | ||
| Q3 25 | 13.82× | 2.51× | ||
| Q2 25 | 15.82× | 2.97× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | -0.93× | 1.56× | ||
| Q3 24 | -3.82× | 3.75× | ||
| Q2 24 | 24.83× | 3.04× | ||
| Q1 24 | 3.24× | 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
FRHC
暂无分部数据
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
