vs
GRAHAM CORP（GHM）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GRAHAM CORP的1.3倍（$71.1M vs $56.7M），GRAHAM CORP净利率更高（5.0% vs 2.0%，领先3.0%），GRAHAM CORP同比增速更快（20.5% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $2.4M），过去两年GRAHAM CORP的营收复合增速更高（7.5% vs -4.7%）
格雷厄姆控股公司是一家多元化的美国控股集团，总部位于弗吉尼亚州阿灵顿县，在特拉华州注册成立，该集团曾是《华盛顿邮报》与《新闻周刊》杂志的所有者。
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。
GHM vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.3倍
$56.7M
营收增速更快
GHM
高出22.4%
-1.8%
净利率更高
GHM
高出3.0%
2.0%
自由现金流更多
RMAX
多$31.1M
$2.4M
两年增速更快
GHM
近两年复合增速
-4.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $56.7M | $71.1M |
| 净利润 | $2.8M | $1.4M |
| 毛利率 | 23.8% | — |
| 营业利润率 | 5.5% | 13.1% |
| 净利率 | 5.0% | 2.0% |
| 营收同比 | 20.5% | -1.8% |
| 净利润同比 | 79.2% | -75.2% |
| 每股收益（稀释后） | $0.25 | — |
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GHMRMAX
| Q4 25 | $56.7M | $71.1M | ||
| Q3 25 | $66.0M | $73.2M | ||
| Q2 25 | $55.5M | $72.8M | ||
| Q1 25 | $59.3M | $74.5M | ||
| Q4 24 | $47.0M | $72.5M | ||
| Q3 24 | $53.6M | $78.5M | ||
| Q2 24 | $50.0M | $78.5M | ||
| Q1 24 | $49.1M | $78.3M |
净利润GHMRMAX
| Q4 25 | $2.8M | $1.4M | ||
| Q3 25 | $3.1M | $4.0M | ||
| Q2 25 | $4.6M | $4.7M | ||
| Q1 25 | $4.4M | $-2.0M | ||
| Q4 24 | $1.6M | $5.8M | ||
| Q3 24 | $3.3M | $966.0K | ||
| Q2 24 | $3.0M | $3.7M | ||
| Q1 24 | $1.3M | $-3.4M |
毛利率GHMRMAX
| Q4 25 | 23.8% | — | ||
| Q3 25 | 21.7% | — | ||
| Q2 25 | 26.5% | — | ||
| Q1 25 | 27.0% | — | ||
| Q4 24 | 24.8% | — | ||
| Q3 24 | 23.9% | — | ||
| Q2 24 | 24.8% | — | ||
| Q1 24 | 25.9% | — |
营业利润率GHMRMAX
| Q4 25 | 5.5% | 13.1% | ||
| Q3 25 | 6.5% | 25.0% | ||
| Q2 25 | 8.9% | 19.3% | ||
| Q1 25 | 9.3% | 7.2% | ||
| Q4 24 | 4.7% | 5.9% | ||
| Q3 24 | 7.9% | 19.4% | ||
| Q2 24 | 6.5% | 20.6% | ||
| Q1 24 | 3.1% | 5.8% |
净利率GHMRMAX
| Q4 25 | 5.0% | 2.0% | ||
| Q3 25 | 4.7% | 5.4% | ||
| Q2 25 | 8.3% | 6.4% | ||
| Q1 25 | 7.4% | -2.6% | ||
| Q4 24 | 3.4% | 8.0% | ||
| Q3 24 | 6.1% | 1.2% | ||
| Q2 24 | 5.9% | 4.7% | ||
| Q1 24 | 2.7% | -4.3% |
每股收益（稀释后）GHMRMAX
| Q4 25 | $0.25 | — | ||
| Q3 25 | $0.28 | — | ||
| Q2 25 | $0.42 | — | ||
| Q1 25 | $0.40 | — | ||
| Q4 24 | $0.14 | — | ||
| Q3 24 | $0.30 | — | ||
| Q2 24 | $0.27 | — | ||
| Q1 24 | $0.11 | — |
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 | $22.3M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $131.3M | $452.4M |
| 总资产 | $292.9M | $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GHMRMAX
| Q4 25 | $22.3M | $118.7M | ||
| Q3 25 | $20.6M | $107.5M | ||
| Q2 25 | $10.8M | $94.3M | ||
| Q1 25 | $21.6M | $89.1M | ||
| Q4 24 | $30.0M | $96.6M | ||
| Q3 24 | $32.3M | $83.8M | ||
| Q2 24 | $21.6M | $66.1M | ||
| Q1 24 | $16.9M | $82.1M |
总债务GHMRMAX
| 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GHMRMAX
| Q4 25 | $131.3M | $452.4M | ||
| Q3 25 | $127.6M | $448.1M | ||
| Q2 25 | $123.4M | $442.4M | ||
| Q1 25 | $119.6M | $433.5M | ||
| Q4 24 | $114.4M | $429.5M | ||
| Q3 24 | $112.5M | $423.1M | ||
| Q2 24 | $108.2M | $418.4M | ||
| Q1 24 | $105.6M | $412.0M |
总资产GHMRMAX
| Q4 25 | $292.9M | $582.5M | ||
| Q3 25 | $287.0M | $582.2M | ||
| Q2 25 | $252.3M | $574.8M | ||
| Q1 25 | $264.1M | $571.4M | ||
| Q4 24 | $264.3M | $581.6M | ||
| Q3 24 | $249.5M | $578.6M | ||
| Q2 24 | $244.2M | $571.4M | ||
| Q1 24 | $233.9M | $566.7M |
负债/权益比GHMRMAX
| 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 | $4.8M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $2.4M | $33.5M |
| 自由现金流率自由现金流/营收 | 4.3% | 47.1% |
| 资本支出强度资本支出/营收 | 4.1% | 10.4% |
| 现金转化率经营现金流/净利润 | 1.67× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $-6.1M | $56.8M |
8季度趋势，按日历期对齐
经营现金流GHMRMAX
| Q4 25 | $4.8M | $40.9M | ||
| Q3 25 | $13.6M | $17.7M | ||
| Q2 25 | $-2.3M | $4.6M | ||
| Q1 25 | $-3.6M | $5.7M | ||
| Q4 24 | $5.2M | $59.7M | ||
| Q3 24 | $13.9M | $17.6M | ||
| Q2 24 | $8.7M | $15.9M | ||
| Q1 24 | $8.6M | $9.4M |
自由现金流GHMRMAX
| Q4 25 | $2.4M | $33.5M | ||
| Q3 25 | $9.4M | $16.4M | ||
| Q2 25 | $-9.3M | $2.9M | ||
| Q1 25 | $-8.7M | $4.0M | ||
| Q4 24 | $-2.1M | $53.0M | ||
| Q3 24 | $10.4M | $16.3M | ||
| Q2 24 | $5.7M | $14.0M | ||
| Q1 24 | $4.6M | $6.8M |
自由现金流率GHMRMAX
| Q4 25 | 4.3% | 47.1% | ||
| Q3 25 | 14.3% | 22.4% | ||
| Q2 25 | -16.7% | 4.0% | ||
| Q1 25 | -14.7% | 5.3% | ||
| Q4 24 | -4.5% | 73.2% | ||
| Q3 24 | 19.5% | 20.8% | ||
| Q2 24 | 11.5% | 17.8% | ||
| Q1 24 | 9.4% | 8.6% |
资本支出强度GHMRMAX
| Q4 25 | 4.1% | 10.4% | ||
| Q3 25 | 6.3% | 1.8% | ||
| Q2 25 | 12.6% | 2.2% | ||
| Q1 25 | 8.7% | 2.3% | ||
| Q4 24 | 15.6% | 9.1% | ||
| Q3 24 | 6.5% | 1.7% | ||
| Q2 24 | 6.0% | 2.4% | ||
| Q1 24 | 8.2% | 3.3% |
现金转化率GHMRMAX
| Q4 25 | 1.67× | 28.39× | ||
| Q3 25 | 4.40× | 4.45× | ||
| Q2 25 | -0.49× | 0.97× | ||
| Q1 25 | -0.81× | — | ||
| Q4 24 | 3.29× | 10.28× | ||
| Q3 24 | 4.25× | 18.22× | ||
| Q2 24 | 2.94× | 4.29× | ||
| Q1 24 | 6.45× | — |
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
GHM
| Defense | $35.3M | 62% |
| Energy And Process | $18.3M | 32% |
| Space | $3.1M | 6% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
