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Global Indemnity Group, LLC（GBLI）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
Global Indemnity Group, LLC的季度营收约是RE/MAX Holdings, Inc.的1.6倍（$116.7M vs $71.1M），Global Indemnity Group, LLC净利率更高（5.5% vs 2.0%，领先3.5%），Global Indemnity Group, LLC同比增速更快（7.6% vs -1.8%），过去两年Global Indemnity Group, LLC的营收复合增速更高（2.0% vs -4.7%）
Global Indemnity Group LLC是一家专业保险控股企业，提供定制化商业及个人财产意外险产品、保证保险与再保险解决方案，主要服务美国境内中小微企业及小众个人保险客群，聚焦传统保险覆盖不足的特殊风险领域。
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。
GBLI vs RMAX — 直观对比
营收规模更大
GBLI
是对方的1.6倍
$71.1M
营收增速更快
GBLI
高出9.5%
-1.8%
净利率更高
GBLI
高出3.5%
2.0%
两年增速更快
GBLI
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $116.7M | $71.1M |
| 净利润 | $6.5M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | 7.9% | 13.1% |
| 净利率 | 5.5% | 2.0% |
| 营收同比 | 7.6% | -1.8% |
| 净利润同比 | -28.5% | -75.2% |
| 每股收益（稀释后） | $0.48 | — |
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GBLIRMAX
| Q4 25 | $116.7M | $71.1M | ||
| Q3 25 | $114.2M | $73.2M | ||
| Q2 25 | $110.5M | $72.8M | ||
| Q1 25 | $108.7M | $74.5M | ||
| Q4 24 | $108.4M | $72.5M | ||
| Q3 24 | $111.8M | $78.5M | ||
| Q2 24 | $108.7M | $78.5M | ||
| Q1 24 | $112.3M | $78.3M |
净利润GBLIRMAX
| Q4 25 | $6.5M | $1.4M | ||
| Q3 25 | $12.5M | $4.0M | ||
| Q2 25 | $10.3M | $4.7M | ||
| Q1 25 | $-4.0M | $-2.0M | ||
| Q4 24 | $9.0M | $5.8M | ||
| Q3 24 | $12.8M | $966.0K | ||
| Q2 24 | $10.1M | $3.7M | ||
| Q1 24 | $11.4M | $-3.4M |
营业利润率GBLIRMAX
| Q4 25 | 7.9% | 13.1% | ||
| Q3 25 | 14.1% | 25.0% | ||
| Q2 25 | 11.9% | 19.3% | ||
| Q1 25 | -4.7% | 7.2% | ||
| Q4 24 | 11.2% | 5.9% | ||
| Q3 24 | 14.2% | 19.4% | ||
| Q2 24 | 11.7% | 20.6% | ||
| Q1 24 | 12.7% | 5.8% |
净利率GBLIRMAX
| Q4 25 | 5.5% | 2.0% | ||
| Q3 25 | 11.0% | 5.4% | ||
| Q2 25 | 9.4% | 6.4% | ||
| Q1 25 | -3.7% | -2.6% | ||
| Q4 24 | 8.3% | 8.0% | ||
| Q3 24 | 11.4% | 1.2% | ||
| Q2 24 | 9.3% | 4.7% | ||
| Q1 24 | 10.1% | -4.3% |
每股收益（稀释后）GBLIRMAX
| Q4 25 | $0.48 | — | ||
| Q3 25 | $0.86 | — | ||
| Q2 25 | $0.71 | — | ||
| Q1 25 | $-0.30 | — | ||
| Q4 24 | $0.65 | — | ||
| Q3 24 | $0.92 | — | ||
| Q2 24 | $0.73 | — | ||
| Q1 24 | $0.82 | — |
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 | $65.5M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $706.6M | $452.4M |
| 总资产 | $1.7B | $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GBLIRMAX
| Q4 25 | $65.5M | $118.7M | ||
| Q3 25 | $75.4M | $107.5M | ||
| Q2 25 | $67.3M | $94.3M | ||
| Q1 25 | $81.1M | $89.1M | ||
| Q4 24 | $17.0M | $96.6M | ||
| Q3 24 | $31.0M | $83.8M | ||
| Q2 24 | $46.7M | $66.1M | ||
| Q1 24 | $38.9M | $82.1M |
总债务GBLIRMAX
| 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 | ||
| Q1 24 | — | $439.0M |
股东权益GBLIRMAX
| Q4 25 | $706.6M | $452.4M | ||
| Q3 25 | $704.1M | $448.1M | ||
| Q2 25 | $695.3M | $442.4M | ||
| Q1 25 | $687.1M | $433.5M | ||
| Q4 24 | $689.1M | $429.5M | ||
| Q3 24 | $686.7M | $423.1M | ||
| Q2 24 | $667.5M | $418.4M | ||
| Q1 24 | $659.5M | $412.0M |
总资产GBLIRMAX
| Q4 25 | $1.7B | $582.5M | ||
| Q3 25 | $1.7B | $582.2M | ||
| Q2 25 | $1.7B | $574.8M | ||
| Q1 25 | $1.7B | $571.4M | ||
| Q4 24 | $1.7B | $581.6M | ||
| Q3 24 | $1.8B | $578.6M | ||
| Q2 24 | $1.7B | $571.4M | ||
| Q1 24 | $1.7B | $566.7M |
负债/权益比GBLIRMAX
| 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× | ||
| Q1 24 | — | 1.07× |
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 | $9.1M | $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 | 1.40× | 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GBLIRMAX
| Q4 25 | $9.1M | $40.9M | ||
| Q3 25 | $5.7M | $17.7M | ||
| Q2 25 | $7.0M | $4.6M | ||
| Q1 25 | $2.4M | $5.7M | ||
| Q4 24 | $38.8M | $59.7M | ||
| Q3 24 | $15.3M | $17.6M | ||
| Q2 24 | $14.3M | $15.9M | ||
| Q1 24 | $22.7M | $9.4M |
自由现金流GBLIRMAX
| Q4 25 | — | $33.5M | ||
| Q3 25 | — | $16.4M | ||
| Q2 25 | — | $2.9M | ||
| Q1 25 | — | $4.0M | ||
| Q4 24 | — | $53.0M | ||
| Q3 24 | — | $16.3M | ||
| Q2 24 | — | $14.0M | ||
| Q1 24 | — | $6.8M |
自由现金流率GBLIRMAX
| Q4 25 | — | 47.1% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | — | 73.2% | ||
| Q3 24 | — | 20.8% | ||
| Q2 24 | — | 17.8% | ||
| Q1 24 | — | 8.6% |
资本支出强度GBLIRMAX
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 9.1% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 2.4% | ||
| Q1 24 | — | 3.3% |
现金转化率GBLIRMAX
| Q4 25 | 1.40× | 28.39× | ||
| Q3 25 | 0.45× | 4.45× | ||
| Q2 25 | 0.68× | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.30× | 10.28× | ||
| Q3 24 | 1.20× | 18.22× | ||
| Q2 24 | 1.41× | 4.29× | ||
| Q1 24 | 2.00× | — |
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
GBLI
| Belmont Core | $99.2M | 85% |
| Agency And Insurance Services | $13.8M | 12% |
| Other | $3.7M | 3% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
