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合众银行（FSBC）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.的季度营收约是合众银行的1.6倍（$71.1M vs $45.1M），合众银行净利率更高（41.3% vs 2.0%，领先39.3%），过去两年合众银行的营收复合增速更高（21.3% vs -4.7%）
合众银行是总部设在美国明尼阿波利斯、在特拉华州注册的美国跨国银行机构，截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为具有系统重要性的银行。它旗下核心运营实体为美国银行全国协会，以US Bank品牌开展业务，提供银行、投资、抵押等金融服务。
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。
FSBC vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.6倍
$45.1M
净利率更高
FSBC
高出39.3%
2.0%
两年增速更快
FSBC
近两年复合增速
-4.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $45.1M | $71.1M |
| 净利润 | $18.6M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | — | 13.1% |
| 净利率 | 41.3% | 2.0% |
| 营收同比 | — | -1.8% |
| 净利润同比 | 42.0% | -75.2% |
| 每股收益（稀释后） | $0.87 | — |
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FSBCRMAX
| Q1 26 | $45.1M | — | ||
| Q4 25 | $43.5M | $71.1M | ||
| Q3 25 | $41.3M | $73.2M | ||
| Q2 25 | $38.3M | $72.8M | ||
| Q1 25 | $35.3M | $74.5M | ||
| Q4 24 | $35.2M | $72.5M | ||
| Q3 24 | $31.8M | $78.5M | ||
| Q2 24 | $30.7M | $78.5M |
净利润FSBCRMAX
| Q1 26 | $18.6M | — | ||
| Q4 25 | $17.6M | $1.4M | ||
| Q3 25 | $16.3M | $4.0M | ||
| Q2 25 | $14.5M | $4.7M | ||
| Q1 25 | $13.1M | $-2.0M | ||
| Q4 24 | $13.3M | $5.8M | ||
| Q3 24 | $10.9M | $966.0K | ||
| Q2 24 | $10.8M | $3.7M |
营业利润率FSBCRMAX
| Q1 26 | — | — | ||
| Q4 25 | 52.9% | 13.1% | ||
| Q3 25 | 53.8% | 25.0% | ||
| Q2 25 | 52.4% | 19.3% | ||
| Q1 25 | 52.0% | 7.2% | ||
| Q4 24 | 55.1% | 5.9% | ||
| Q3 24 | 48.0% | 19.4% | ||
| Q2 24 | 49.4% | 20.6% |
净利率FSBCRMAX
| Q1 26 | 41.3% | — | ||
| Q4 25 | 40.6% | 2.0% | ||
| Q3 25 | 39.6% | 5.4% | ||
| Q2 25 | 37.9% | 6.4% | ||
| Q1 25 | 37.1% | -2.6% | ||
| Q4 24 | 37.9% | 8.0% | ||
| Q3 24 | 34.4% | 1.2% | ||
| Q2 24 | 35.2% | 4.7% |
每股收益（稀释后）FSBCRMAX
| Q1 26 | $0.87 | — | ||
| Q4 25 | $0.83 | — | ||
| Q3 25 | $0.77 | — | ||
| Q2 25 | $0.68 | — | ||
| Q1 25 | $0.62 | — | ||
| Q4 24 | $0.61 | — | ||
| Q3 24 | $0.52 | — | ||
| Q2 24 | $0.51 | — |
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 | $644.4M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $458.5M | $452.4M |
| 总资产 | $5.0B | $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FSBCRMAX
| Q1 26 | $644.4M | — | ||
| Q4 25 | — | $118.7M | ||
| Q3 25 | — | $107.5M | ||
| Q2 25 | — | $94.3M | ||
| Q1 25 | — | $89.1M | ||
| Q4 24 | — | $96.6M | ||
| Q3 24 | — | $83.8M | ||
| Q2 24 | — | $66.1M |
总债务FSBCRMAX
| Q1 26 | — | — | ||
| 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 |
股东权益FSBCRMAX
| Q1 26 | $458.5M | — | ||
| Q4 25 | $445.8M | $452.4M | ||
| Q3 25 | $431.3M | $448.1M | ||
| Q2 25 | $416.7M | $442.4M | ||
| Q1 25 | $406.5M | $433.5M | ||
| Q4 24 | $396.6M | $429.5M | ||
| Q3 24 | $389.9M | $423.1M | ||
| Q2 24 | $380.5M | $418.4M |
总资产FSBCRMAX
| Q1 26 | $5.0B | — | ||
| Q4 25 | $4.8B | $582.5M | ||
| Q3 25 | $4.6B | $582.2M | ||
| Q2 25 | $4.4B | $574.8M | ||
| Q1 25 | $4.2B | $571.4M | ||
| Q4 24 | $4.1B | $581.6M | ||
| Q3 24 | $3.9B | $578.6M | ||
| Q2 24 | $3.6B | $571.4M |
负债/权益比FSBCRMAX
| Q1 26 | — | — | ||
| 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× |
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 | — | $40.9M |
| 自由现金流经营现金流 - 资本支出 | — | $33.5M |
| 自由现金流率自由现金流/营收 | — | 47.1% |
| 资本支出强度资本支出/营收 | — | 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 | — | $56.8M |
8季度趋势，按日历期对齐
经营现金流FSBCRMAX
| Q1 26 | — | — | ||
| Q4 25 | $72.6M | $40.9M | ||
| Q3 25 | $18.8M | $17.7M | ||
| Q2 25 | $17.8M | $4.6M | ||
| Q1 25 | $15.5M | $5.7M | ||
| Q4 24 | $51.8M | $59.7M | ||
| Q3 24 | $17.5M | $17.6M | ||
| Q2 24 | $16.0M | $15.9M |
自由现金流FSBCRMAX
| Q1 26 | — | — | ||
| Q4 25 | $71.4M | $33.5M | ||
| Q3 25 | $18.6M | $16.4M | ||
| Q2 25 | $17.5M | $2.9M | ||
| Q1 25 | $15.4M | $4.0M | ||
| Q4 24 | $51.2M | $53.0M | ||
| Q3 24 | $17.3M | $16.3M | ||
| Q2 24 | $15.8M | $14.0M |
自由现金流率FSBCRMAX
| Q1 26 | — | — | ||
| Q4 25 | 164.3% | 47.1% | ||
| Q3 25 | 45.0% | 22.4% | ||
| Q2 25 | 45.8% | 4.0% | ||
| Q1 25 | 43.5% | 5.3% | ||
| Q4 24 | 145.5% | 73.2% | ||
| Q3 24 | 54.5% | 20.8% | ||
| Q2 24 | 51.6% | 17.8% |
资本支出强度FSBCRMAX
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 10.4% | ||
| Q3 25 | 0.5% | 1.8% | ||
| Q2 25 | 0.6% | 2.2% | ||
| Q1 25 | 0.3% | 2.3% | ||
| Q4 24 | 1.8% | 9.1% | ||
| Q3 24 | 0.7% | 1.7% | ||
| Q2 24 | 0.7% | 2.4% |
现金转化率FSBCRMAX
| Q1 26 | — | — | ||
| Q4 25 | 4.12× | 28.39× | ||
| Q3 25 | 1.15× | 4.45× | ||
| Q2 25 | 1.23× | 0.97× | ||
| Q1 25 | 1.18× | — | ||
| Q4 24 | 3.89× | 10.28× | ||
| Q3 24 | 1.60× | 18.22× | ||
| Q2 24 | 1.49× | 4.29× |
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
FSBC
| Net Interest Income | $43.5M | 96% |
| Noninterest Income | $1.6M | 4% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
