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Fathom Holdings Inc.（FTHM）与NEWMARK GROUP, INC.（NMRK）财务数据对比。点击上方公司名可切换其他公司
NEWMARK GROUP, INC.的季度营收约是Fathom Holdings Inc.的9.5倍（$859.5M vs $90.6M）。NEWMARK GROUP, INC.净利率更高（7.9% vs -7.4%，领先15.3%）。NEWMARK GROUP, INC.同比增速更快（18.1% vs -1.2%）。NEWMARK GROUP, INC.自由现金流更多（$608.8M vs $-11.9M）。过去两年NEWMARK GROUP, INC.的营收复合增速更高（38.2% vs 13.4%）
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。
纽马克集团是一家总部位于纽约的全球性商业地产咨询及服务企业，旗下业务以Newmark品牌开展，在纳斯达克全球精选市场上市，股票代码为NMRK，为全球客户提供商业地产领域的多元专业服务。
FTHM vs NMRK — 直观对比
营收规模更大
NMRK
是对方的9.5倍
$90.6M
营收增速更快
NMRK
高出19.4%
-1.2%
净利率更高
NMRK
高出15.3%
-7.4%
自由现金流更多
NMRK
多$620.8M
$-11.9M
两年增速更快
NMRK
近两年复合增速
13.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $90.6M | $859.5M |
| 净利润 | $-6.7M | $68.0M |
| 毛利率 | — | — |
| 营业利润率 | -5.2% | 14.4% |
| 净利率 | -7.4% | 7.9% |
| 营收同比 | -1.2% | 18.1% |
| 净利润同比 | -7.7% | 49.7% |
| 每股收益（稀释后） | $-0.20 | $0.37 |
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FTHMNMRK
| Q4 25 | $90.6M | $859.5M | ||
| Q3 25 | $115.3M | $715.0M | ||
| Q2 25 | $121.4M | $639.6M | ||
| Q1 25 | $93.1M | $556.2M | ||
| Q4 24 | $91.7M | $727.5M | ||
| Q3 24 | $83.7M | $568.0M | ||
| Q2 24 | $89.2M | $527.3M | ||
| Q1 24 | $70.5M | $450.2M |
净利润FTHMNMRK
| Q4 25 | $-6.7M | $68.0M | ||
| Q3 25 | $-4.4M | $46.2M | ||
| Q2 25 | $-3.6M | $20.8M | ||
| Q1 25 | $-5.6M | $-8.8M | ||
| Q4 24 | $-6.2M | $45.4M | ||
| Q3 24 | $-8.1M | $17.8M | ||
| Q2 24 | $-1.3M | $14.3M | ||
| Q1 24 | $-5.9M | $-16.3M |
营业利润率FTHMNMRK
| Q4 25 | -5.2% | 14.4% | ||
| Q3 25 | -3.5% | 11.9% | ||
| Q2 25 | -2.0% | 6.7% | ||
| Q1 25 | -4.8% | -3.1% | ||
| Q4 24 | -7.0% | 14.3% | ||
| Q3 24 | -9.3% | 7.2% | ||
| Q2 24 | -4.1% | 7.7% | ||
| Q1 24 | -8.0% | -5.0% |
净利率FTHMNMRK
| Q4 25 | -7.4% | 7.9% | ||
| Q3 25 | -3.8% | 6.5% | ||
| Q2 25 | -3.0% | 3.3% | ||
| Q1 25 | -6.1% | -1.6% | ||
| Q4 24 | -6.8% | 6.2% | ||
| Q3 24 | -9.7% | 3.1% | ||
| Q2 24 | -1.5% | 2.7% | ||
| Q1 24 | -8.4% | -3.6% |
每股收益（稀释后）FTHMNMRK
| Q4 25 | $-0.20 | $0.37 | ||
| Q3 25 | $-0.15 | $0.25 | ||
| Q2 25 | $-0.13 | $0.11 | ||
| Q1 25 | $-0.24 | $-0.05 | ||
| Q4 24 | $-0.29 | $0.25 | ||
| Q3 24 | $-0.40 | $0.10 | ||
| Q2 24 | $-0.07 | $0.08 | ||
| Q1 24 | $-0.31 | $-0.09 |
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 | $229.1M |
| 总债务越低越好 | $5.6M | $671.7M |
| 股东权益账面价值 | $37.4M | $1.5B |
| 总资产 | $78.0M | $5.0B |
| 负债/权益比越低杠杆越低 | 0.15× | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资FTHMNMRK
| Q4 25 | $5.8M | $229.1M | ||
| Q3 25 | $9.8M | $224.1M | ||
| Q2 25 | $4.9M | $195.8M | ||
| Q1 25 | $8.0M | $157.1M | ||
| Q4 24 | $7.1M | $197.7M | ||
| Q3 24 | $13.1M | $178.6M | ||
| Q2 24 | $10.4M | $176.4M | ||
| Q1 24 | $5.7M | $140.9M |
总债务FTHMNMRK
| Q4 25 | $5.6M | $671.7M | ||
| Q3 25 | — | $746.5M | ||
| Q2 25 | — | $871.2M | ||
| Q1 25 | — | $770.9M | ||
| Q4 24 | $9.5M | $670.7M | ||
| Q3 24 | $8.8M | $770.4M | ||
| Q2 24 | $3.6M | $745.2M | ||
| Q1 24 | $3.7M | $670.2M |
股东权益FTHMNMRK
| Q4 25 | $37.4M | $1.5B | ||
| Q3 25 | $43.4M | $1.4B | ||
| Q2 25 | $40.7M | $1.3B | ||
| Q1 25 | $43.4M | $1.3B | ||
| Q4 24 | $44.7M | $1.2B | ||
| Q3 24 | $47.1M | $1.2B | ||
| Q2 24 | $53.1M | $1.2B | ||
| Q1 24 | $51.9M | $1.2B |
总资产FTHMNMRK
| Q4 25 | $78.0M | $5.0B | ||
| Q3 25 | $83.2M | $5.5B | ||
| Q2 25 | $80.4M | $5.4B | ||
| Q1 25 | $81.0M | $4.8B | ||
| Q4 24 | $75.4M | $4.7B | ||
| Q3 24 | $80.9M | $5.0B | ||
| Q2 24 | $80.2M | $4.8B | ||
| Q1 24 | $78.2M | $4.4B |
负债/权益比FTHMNMRK
| Q4 25 | 0.15× | 0.46× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.68× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | 0.21× | 0.56× | ||
| Q3 24 | 0.19× | 0.66× | ||
| Q2 24 | 0.07× | 0.62× | ||
| Q1 24 | 0.07× | 0.54× |
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 | $-11.9M | $618.5M |
| 自由现金流经营现金流 - 资本支出 | $-11.9M | $608.8M |
| 自由现金流率自由现金流/营收 | -13.2% | 70.8% |
| 资本支出强度资本支出/营收 | 0.0% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 9.10× |
| 过去12个月自由现金流最近4个季度 | $-20.7M | $142.6M |
8季度趋势，按日历期对齐
经营现金流FTHMNMRK
| Q4 25 | $-11.9M | $618.5M | ||
| Q3 25 | $3.0M | $112.6M | ||
| Q2 25 | $-5.9M | $-379.7M | ||
| Q1 25 | $-5.7M | $-179.4M | ||
| Q4 24 | $-317.0K | $402.6M | ||
| Q3 24 | $-330.0K | $-85.2M | ||
| Q2 24 | $-3.1M | $-258.5M | ||
| Q1 24 | $-947.0K | $-68.8M |
自由现金流FTHMNMRK
| Q4 25 | $-11.9M | $608.8M | ||
| Q3 25 | $3.0M | $104.9M | ||
| Q2 25 | $-6.0M | $-386.2M | ||
| Q1 25 | $-5.8M | $-184.8M | ||
| Q4 24 | $-322.0K | $396.6M | ||
| Q3 24 | $-364.0K | $-94.4M | ||
| Q2 24 | $-3.1M | $-267.8M | ||
| Q1 24 | $-948.0K | $-75.8M |
自由现金流率FTHMNMRK
| Q4 25 | -13.2% | 70.8% | ||
| Q3 25 | 2.6% | 14.7% | ||
| Q2 25 | -4.9% | -60.4% | ||
| Q1 25 | -6.2% | -33.2% | ||
| Q4 24 | -0.4% | 54.5% | ||
| Q3 24 | -0.4% | -16.6% | ||
| Q2 24 | -3.5% | -50.8% | ||
| Q1 24 | -1.3% | -16.8% |
资本支出强度FTHMNMRK
| Q4 25 | 0.0% | 1.1% | ||
| Q3 25 | 0.0% | 1.1% | ||
| Q2 25 | 0.0% | 1.0% | ||
| Q1 25 | 0.0% | 1.0% | ||
| Q4 24 | 0.0% | 0.8% | ||
| Q3 24 | 0.0% | 1.6% | ||
| Q2 24 | 0.0% | 1.8% | ||
| Q1 24 | 0.0% | 1.6% |
现金转化率FTHMNMRK
| Q4 25 | — | 9.10× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | — | -18.24× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 8.86× | ||
| Q3 24 | — | -4.79× | ||
| Q2 24 | — | -18.10× | ||
| 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
FTHM
| Real Estate Brokerage | $84.9M | 94% |
| Mortgage Segment | $3.4M | 4% |
| Other | $2.3M | 3% |
NMRK
| Management Services | $263.1M | 31% |
| Investment Advice | $200.1M | 23% |
| Mortgage Brokerage And Debt Placement | $83.1M | 10% |
| Servicing Fees And Other | $80.7M | 9% |
| GB | $69.0M | 8% |
| Other Geographical Areas | $63.6M | 7% |
| Servicing | $36.2M | 4% |
| Other | $34.2M | 4% |
| Loan Originations Related Fees And Sales Premiums Net | $29.6M | 3% |
