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自由媒体集团（FWONA）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
自由媒体集团的季度营收约是利氏兄弟拍卖行的1.3倍（$1.6B vs $1.2B），自由媒体集团净利率更高（20.7% vs 9.1%，领先11.6%），自由媒体集团同比增速更快（150.7% vs 5.4%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $62.0M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% vs -23.5%）
自由媒体集团是1991年由约翰·C·马龙创立的美国大型传媒企业，旗下设有两大对应独立追踪股票的业务板块，持有一级方程式集团和Live Nation Entertainment的股权，截至2025年拥有F1、世界摩托车锦标赛、世界超级摩托车锦标赛三项全球顶级赛车运动IP及运营业务。
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。
FWONA vs RBA — 直观对比
营收规模更大
FWONA
是对方的1.3倍
$1.2B
营收增速更快
FWONA
高出145.3%
5.4%
净利率更高
FWONA
高出11.6%
9.1%
自由现金流更多
RBA
多$124.5M
$62.0M
两年增速更快
RBA
近两年复合增速
-23.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $333.0M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 14.0% | 14.7% |
| 净利率 | 20.7% | 9.1% |
| 营收同比 | 150.7% | 5.4% |
| 净利润同比 | 193.8% | -7.4% |
| 每股收益（稀释后） | — | $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FWONARBA
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $447.0M | $1.1B | ||
| Q4 24 | $-3.2B | $1.1B | ||
| Q3 24 | $911.0M | $981.8M | ||
| Q2 24 | $3.2B | $1.1B | ||
| Q1 24 | $2.7B | $1.1B |
净利润FWONARBA
| Q4 25 | $333.0M | $109.7M | ||
| Q3 25 | $13.0M | $95.5M | ||
| Q2 25 | $204.0M | $109.8M | ||
| Q1 25 | $5.0M | $113.4M | ||
| Q4 24 | $-355.0M | $118.5M | ||
| Q3 24 | $-2.4B | $76.1M | ||
| Q2 24 | $457.0M | $111.1M | ||
| Q1 24 | $203.0M | $107.4M |
营业利润率FWONARBA
| Q4 25 | 14.0% | 14.7% | ||
| Q3 25 | 13.7% | 14.5% | ||
| Q2 25 | 20.4% | 15.9% | ||
| Q1 25 | -15.9% | 17.1% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | 11.7% | 15.6% | ||
| Q2 24 | 16.7% | 18.4% | ||
| Q1 24 | 18.3% | 18.7% |
净利率FWONARBA
| Q4 25 | 20.7% | 9.1% | ||
| Q3 25 | 1.2% | 8.7% | ||
| Q2 25 | 15.2% | 9.3% | ||
| Q1 25 | 1.1% | 10.2% | ||
| Q4 24 | 11.2% | 10.4% | ||
| Q3 24 | -259.9% | 7.8% | ||
| Q2 24 | 14.4% | 10.1% | ||
| Q1 24 | 7.4% | 10.1% |
每股收益（稀释后）FWONARBA
| Q4 25 | — | $0.53 | ||
| Q3 25 | — | $0.43 | ||
| Q2 25 | — | $0.53 | ||
| Q1 25 | — | $0.55 | ||
| Q4 24 | — | $0.58 | ||
| Q3 24 | — | $0.36 | ||
| Q2 24 | — | $0.54 | ||
| Q1 24 | — | $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 | $1.1B | $531.5M |
| 总债务越低越好 | $5.1B | $2.3B |
| 股东权益账面价值 | $7.8B | $5.6B |
| 总资产 | $15.4B | $12.1B |
| 负债/权益比越低杠杆越低 | 0.66× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资FWONARBA
| Q4 25 | $1.1B | $531.5M | ||
| Q3 25 | $1.6B | $674.7M | ||
| Q2 25 | $3.4B | $710.2M | ||
| Q1 25 | $3.1B | $578.1M | ||
| Q4 24 | $3.0B | $533.9M | ||
| Q3 24 | $3.1B | $650.7M | ||
| Q2 24 | $2.1B | $599.5M | ||
| Q1 24 | $1.7B | $462.8M |
总债务FWONARBA
| Q4 25 | $5.1B | $2.3B | ||
| Q3 25 | $7.0B | $2.6B | ||
| Q2 25 | $4.8B | $2.6B | ||
| Q1 25 | $4.6B | $2.6B | ||
| Q4 24 | $4.5B | $2.6B | ||
| Q3 24 | $4.4B | $2.7B | ||
| Q2 24 | $15.0B | $2.8B | ||
| Q1 24 | $15.4B | $2.9B |
股东权益FWONARBA
| Q4 25 | $7.8B | $5.6B | ||
| Q3 25 | $7.4B | $5.5B | ||
| Q2 25 | $7.3B | $5.5B | ||
| Q1 25 | $7.0B | $5.3B | ||
| Q4 24 | $7.0B | $5.2B | ||
| Q3 24 | $7.4B | $5.2B | ||
| Q2 24 | $17.1B | $5.2B | ||
| Q1 24 | $16.6B | $5.1B |
总资产FWONARBA
| Q4 25 | $15.4B | $12.1B | ||
| Q3 25 | $17.8B | $12.2B | ||
| Q2 25 | $13.8B | $12.2B | ||
| Q1 25 | $13.3B | $11.9B | ||
| Q4 24 | $12.9B | $11.8B | ||
| Q3 24 | $13.2B | $11.9B | ||
| Q2 24 | $42.6B | $12.1B | ||
| Q1 24 | $42.4B | $12.0B |
负债/权益比FWONARBA
| Q4 25 | 0.66× | 0.42× | ||
| Q3 25 | 0.95× | 0.47× | ||
| Q2 25 | 0.65× | 0.47× | ||
| Q1 25 | 0.65× | 0.50× | ||
| Q4 24 | 0.65× | 0.50× | ||
| Q3 24 | 0.59× | 0.52× | ||
| Q2 24 | 0.88× | 0.55× | ||
| Q1 24 | 0.93× | 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 | $123.0M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $62.0M | $186.5M |
| 自由现金流率自由现金流/营收 | 3.9% | 15.5% |
| 资本支出强度资本支出/营收 | 3.8% | 5.7% |
| 现金转化率经营现金流/净利润 | 0.37× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $789.0M | $719.2M |
8季度趋势，按日历期对齐
经营现金流FWONARBA
| Q4 25 | $123.0M | $255.2M | ||
| Q3 25 | $173.0M | $239.7M | ||
| Q2 25 | $231.0M | $326.5M | ||
| Q1 25 | $381.0M | $156.8M | ||
| Q4 24 | $-23.0M | $184.5M | ||
| Q3 24 | $182.0M | $285.4M | ||
| Q2 24 | $752.0M | $337.3M | ||
| Q1 24 | $395.0M | $124.8M |
自由现金流FWONARBA
| Q4 25 | $62.0M | $186.5M | ||
| Q3 25 | $170.0M | $188.5M | ||
| Q2 25 | $209.0M | $241.7M | ||
| Q1 25 | $348.0M | $102.5M | ||
| Q4 24 | $-46.0M | $127.9M | ||
| Q3 24 | $-153.0M | $248.5M | ||
| Q2 24 | $566.0M | $308.6M | ||
| Q1 24 | $194.0M | $79.6M |
自由现金流率FWONARBA
| Q4 25 | 3.9% | 15.5% | ||
| Q3 25 | 15.7% | 17.3% | ||
| Q2 25 | 15.6% | 20.4% | ||
| Q1 25 | 77.9% | 9.2% | ||
| Q4 24 | 1.4% | 11.2% | ||
| Q3 24 | -16.8% | 25.3% | ||
| Q2 24 | 17.9% | 28.2% | ||
| Q1 24 | 7.1% | 7.5% |
资本支出强度FWONARBA
| Q4 25 | 3.8% | 5.7% | ||
| Q3 25 | 0.3% | 4.7% | ||
| Q2 25 | 1.6% | 7.2% | ||
| Q1 25 | 7.4% | 4.9% | ||
| Q4 24 | -0.7% | 5.0% | ||
| Q3 24 | 36.8% | 3.8% | ||
| Q2 24 | 5.9% | 2.6% | ||
| Q1 24 | 7.3% | 4.2% |
现金转化率FWONARBA
| Q4 25 | 0.37× | 2.33× | ||
| Q3 25 | 13.31× | 2.51× | ||
| Q2 25 | 1.13× | 2.97× | ||
| Q1 25 | 76.20× | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 3.75× | ||
| Q2 24 | 1.65× | 3.04× | ||
| Q1 24 | 1.95× | 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
FWONA
| Formula One | $1.4B | 87% |
| Product Service Or Other | $131.0M | 8% |
| Other | $77.0M | 5% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
