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Fathom Holdings Inc.（FTHM）与JBG SMITH Properties（JBGS）财务数据对比。点击上方公司名可切换其他公司
JBG SMITH Properties的季度营收约是Fathom Holdings Inc.的1.4倍（$127.6M vs $90.6M），Fathom Holdings Inc.净利率更高（-7.4% vs -18.1%，领先10.7%），JBG SMITH Properties同比增速更快（5.7% vs -1.2%），过去两年Fathom Holdings Inc.的营收复合增速更高（13.4% vs -2.9%）
Fathom Holdings Inc.是一家总部位于美国的房地产科技与服务企业，为房产经纪人、经纪机构和消费者提供数字交易管理、按揭服务、产权保险、住宅经纪等一站式解决方案，业务覆盖美国大部分区域市场。
JBG SMITH Properties是一家总部位于马里兰州贝塞斯达的上市房地产投资信托公司，专注于持有并运营房地产资产，是美国商业地产领域的专业运营机构，面向市场提供多元化的不动产投资与管理服务。
FTHM vs JBGS — 直观对比
营收规模更大
JBGS
是对方的1.4倍
$90.6M
营收增速更快
JBGS
高出7.0%
-1.2%
净利率更高
FTHM
高出10.7%
-18.1%
两年增速更快
FTHM
近两年复合增速
-2.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $90.6M | $127.6M |
| 净利润 | $-6.7M | $-23.0M |
| 毛利率 | — | — |
| 营业利润率 | -5.2% | — |
| 净利率 | -7.4% | -18.1% |
| 营收同比 | -1.2% | 5.7% |
| 净利润同比 | -7.7% | 57.1% |
| 每股收益（稀释后） | $-0.20 | $-0.32 |
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FTHMJBGS
| Q1 26 | — | $127.6M | ||
| Q4 25 | $90.6M | $127.6M | ||
| Q3 25 | $115.3M | $123.9M | ||
| Q2 25 | $121.4M | $126.5M | ||
| Q1 25 | $93.1M | $120.7M | ||
| Q4 24 | $91.7M | $130.8M | ||
| Q3 24 | $83.7M | $136.0M | ||
| Q2 24 | $89.2M | $135.3M |
净利润FTHMJBGS
| Q1 26 | — | $-23.0M | ||
| Q4 25 | $-6.7M | $-45.5M | ||
| Q3 25 | $-4.4M | $-28.6M | ||
| Q2 25 | $-3.6M | $-19.2M | ||
| Q1 25 | $-5.6M | $-45.7M | ||
| Q4 24 | $-6.2M | $-59.9M | ||
| Q3 24 | $-8.1M | $-27.0M | ||
| Q2 24 | $-1.3M | $-24.4M |
营业利润率FTHMJBGS
| Q1 26 | — | — | ||
| Q4 25 | -5.2% | -47.5% | ||
| Q3 25 | -3.5% | -27.5% | ||
| Q2 25 | -2.0% | -18.4% | ||
| Q1 25 | -4.8% | -44.7% | ||
| Q4 24 | -7.0% | -53.6% | ||
| Q3 24 | -9.3% | -22.4% | ||
| Q2 24 | -4.1% | -24.3% |
净利率FTHMJBGS
| Q1 26 | — | -18.1% | ||
| Q4 25 | -7.4% | -35.7% | ||
| Q3 25 | -3.8% | -23.1% | ||
| Q2 25 | -3.0% | -15.2% | ||
| Q1 25 | -6.1% | -37.9% | ||
| Q4 24 | -6.8% | -45.8% | ||
| Q3 24 | -9.7% | -19.8% | ||
| Q2 24 | -1.5% | -18.0% |
每股收益（稀释后）FTHMJBGS
| Q1 26 | — | $-0.32 | ||
| Q4 25 | $-0.20 | $-0.76 | ||
| Q3 25 | $-0.15 | $-0.48 | ||
| Q2 25 | $-0.13 | $-0.29 | ||
| Q1 25 | $-0.24 | $-0.56 | ||
| Q4 24 | $-0.29 | $-0.70 | ||
| Q3 24 | $-0.40 | $-0.32 | ||
| Q2 24 | $-0.07 | $-0.27 |
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 | $5.8M | — |
| 总债务越低越好 | $5.6M | — |
| 股东权益账面价值 | $37.4M | — |
| 总资产 | $78.0M | $4.3B |
| 负债/权益比越低杠杆越低 | 0.15× | — |
8季度趋势，按日历期对齐
现金及短期投资FTHMJBGS
| Q1 26 | — | — | ||
| Q4 25 | $5.8M | $75.3M | ||
| Q3 25 | $9.8M | $64.4M | ||
| Q2 25 | $4.9M | $61.4M | ||
| Q1 25 | $8.0M | $81.3M | ||
| Q4 24 | $7.1M | $145.8M | ||
| Q3 24 | $13.1M | $137.0M | ||
| Q2 24 | $10.4M | $163.5M |
总债务FTHMJBGS
| Q1 26 | — | — | ||
| Q4 25 | $5.6M | — | ||
| Q3 25 | $5.1M | — | ||
| Q2 25 | $5.1M | — | ||
| Q1 25 | $5.1M | — | ||
| Q4 24 | $9.5M | — | ||
| Q3 24 | $8.8M | — | ||
| Q2 24 | $3.6M | — |
股东权益FTHMJBGS
| Q1 26 | — | — | ||
| Q4 25 | $37.4M | $1.2B | ||
| Q3 25 | $43.4M | $1.2B | ||
| Q2 25 | $40.7M | $1.3B | ||
| Q1 25 | $43.4M | $1.6B | ||
| Q4 24 | $44.7M | $1.8B | ||
| Q3 24 | $47.1M | $1.9B | ||
| Q2 24 | $53.1M | $2.0B |
总资产FTHMJBGS
| Q1 26 | — | $4.3B | ||
| Q4 25 | $78.0M | $4.4B | ||
| Q3 25 | $83.2M | $4.4B | ||
| Q2 25 | $80.4M | $4.5B | ||
| Q1 25 | $81.0M | $4.7B | ||
| Q4 24 | $75.4M | $5.0B | ||
| Q3 24 | $80.9M | $5.2B | ||
| Q2 24 | $80.2M | $5.3B |
负债/权益比FTHMJBGS
| Q1 26 | — | — | ||
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.12× | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 0.07× | — |
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 | $-20.5M | — |
| 自由现金流经营现金流 - 资本支出 | $-20.7M | — |
| 自由现金流率自由现金流/营收 | -22.8% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-29.4M | — |
8季度趋势，按日历期对齐
经营现金流FTHMJBGS
| Q1 26 | — | — | ||
| Q4 25 | $-20.5M | $73.3M | ||
| Q3 25 | $3.0M | $8.9M | ||
| Q2 25 | $-5.9M | $18.8M | ||
| Q1 25 | $-5.7M | $12.9M | ||
| Q4 24 | $-4.7M | $129.4M | ||
| Q3 24 | $-330.0K | $26.4M | ||
| Q2 24 | $-3.1M | $23.8M |
自由现金流FTHMJBGS
| Q1 26 | — | — | ||
| Q4 25 | $-20.7M | — | ||
| Q3 25 | $3.0M | — | ||
| Q2 25 | $-6.0M | — | ||
| Q1 25 | $-5.8M | — | ||
| Q4 24 | $-4.7M | — | ||
| Q3 24 | $-364.0K | — | ||
| Q2 24 | $-3.1M | — |
自由现金流率FTHMJBGS
| Q1 26 | — | — | ||
| Q4 25 | -22.8% | — | ||
| Q3 25 | 2.6% | — | ||
| Q2 25 | -4.9% | — | ||
| Q1 25 | -6.2% | — | ||
| Q4 24 | -5.2% | — | ||
| Q3 24 | -0.4% | — | ||
| Q2 24 | -3.5% | — |
资本支出强度FTHMJBGS
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — |
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
FTHM
| Real Estate Brokerage | $84.9M | 94% |
| Mortgage Segment | $3.4M | 4% |
| Other | $2.3M | 3% |
JBGS
| Property rental | $105.9M | 83% |
| Third-party real estate services, including reimbursements | $17.2M | 13% |
| Other revenue | $4.5M | 4% |
