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Global Net Lease, Inc.（GNL）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 Net Lease, Inc.的季度营收约是RE/MAX Holdings, Inc.的1.6倍（$117.0M vs $71.1M），Global Net Lease, Inc.净利率更高（41.2% vs 2.0%，领先39.2%），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -15.1%），过去两年RE/MAX Holdings, Inc.的营收复合增速更高（-4.7% vs -11.1%）
Global Net Lease, Inc. 是一家上市房地产投资信托机构，主要收购、持有并运营多元化商业地产资产，通过长期净租赁协议出租物业，项目覆盖北美、欧洲多地，涵盖工业、办公、零售等领域，为股东提供稳定的长期收益。
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。
GNL vs RMAX — 直观对比
营收规模更大
GNL
是对方的1.6倍
$71.1M
营收增速更快
RMAX
高出13.3%
-15.1%
净利率更高
GNL
高出39.2%
2.0%
两年增速更快
RMAX
近两年复合增速
-11.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $117.0M | $71.1M |
| 净利润 | $48.2M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | 94.7% | 13.1% |
| 净利率 | 41.2% | 2.0% |
| 营收同比 | -15.1% | -1.8% |
| 净利润同比 | 838.7% | -75.2% |
| 每股收益（稀释后） | $0.14 | — |
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GNLRMAX
| Q4 25 | $117.0M | $71.1M | ||
| Q3 25 | $121.0M | $73.2M | ||
| Q2 25 | $124.9M | $72.8M | ||
| Q1 25 | $132.4M | $74.5M | ||
| Q4 24 | $137.8M | $72.5M | ||
| Q3 24 | $138.7M | $78.5M | ||
| Q2 24 | $145.5M | $78.5M | ||
| Q1 24 | $147.9M | $78.3M |
净利润GNLRMAX
| Q4 25 | $48.2M | $1.4M | ||
| Q3 25 | $-60.1M | $4.0M | ||
| Q2 25 | $-24.1M | $4.7M | ||
| Q1 25 | $-189.4M | $-2.0M | ||
| Q4 24 | $-6.5M | $5.8M | ||
| Q3 24 | $-65.6M | $966.0K | ||
| Q2 24 | $-35.7M | $3.7M | ||
| Q1 24 | $-23.8M | $-3.4M |
营业利润率GNLRMAX
| Q4 25 | 94.7% | 13.1% | ||
| Q3 25 | -11.7% | 25.0% | ||
| Q2 25 | 33.9% | 19.3% | ||
| Q1 25 | -21.1% | 7.2% | ||
| Q4 24 | 40.8% | 5.9% | ||
| Q3 24 | 9.3% | 19.4% | ||
| Q2 24 | 42.6% | 20.6% | ||
| Q1 24 | 38.6% | 5.8% |
净利率GNLRMAX
| Q4 25 | 41.2% | 2.0% | ||
| Q3 25 | -49.7% | 5.4% | ||
| Q2 25 | -19.3% | 6.4% | ||
| Q1 25 | -143.0% | -2.6% | ||
| Q4 24 | -4.7% | 8.0% | ||
| Q3 24 | -47.3% | 1.2% | ||
| Q2 24 | -24.5% | 4.7% | ||
| Q1 24 | -16.1% | -4.3% |
每股收益（稀释后）GNLRMAX
| Q4 25 | $0.14 | — | ||
| Q3 25 | $-0.32 | — | ||
| Q2 25 | $-0.16 | — | ||
| Q1 25 | $-0.87 | — | ||
| Q4 24 | $-0.08 | — | ||
| Q3 24 | $-0.33 | — | ||
| Q2 24 | $-0.20 | — | ||
| Q1 24 | $-0.15 | — |
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 | $180.1M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $1.7B | $452.4M |
| 总资产 | $4.3B | $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GNLRMAX
| Q4 25 | $180.1M | $118.7M | ||
| Q3 25 | $165.1M | $107.5M | ||
| Q2 25 | $144.8M | $94.3M | ||
| Q1 25 | $147.0M | $89.1M | ||
| Q4 24 | $159.7M | $96.6M | ||
| Q3 24 | $127.2M | $83.8M | ||
| Q2 24 | $122.2M | $66.1M | ||
| Q1 24 | $131.9M | $82.1M |
总债务GNLRMAX
| 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GNLRMAX
| Q4 25 | $1.7B | $452.4M | ||
| Q3 25 | $1.7B | $448.1M | ||
| Q2 25 | $1.8B | $442.4M | ||
| Q1 25 | $1.9B | $433.5M | ||
| Q4 24 | $2.2B | $429.5M | ||
| Q3 24 | $2.3B | $423.1M | ||
| Q2 24 | $2.4B | $418.4M | ||
| Q1 24 | $2.5B | $412.0M |
总资产GNLRMAX
| Q4 25 | $4.3B | $582.5M | ||
| Q3 25 | $4.8B | $582.2M | ||
| Q2 25 | $5.0B | $574.8M | ||
| Q1 25 | $5.8B | $571.4M | ||
| Q4 24 | $7.0B | $581.6M | ||
| Q3 24 | $7.3B | $578.6M | ||
| Q2 24 | $7.6B | $571.4M | ||
| Q1 24 | $8.0B | $566.7M |
负债/权益比GNLRMAX
| 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 | $222.8M | $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 | 4.62× | 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GNLRMAX
| Q4 25 | $222.8M | $40.9M | ||
| Q3 25 | $56.0M | $17.7M | ||
| Q2 25 | $52.0M | $4.6M | ||
| Q1 25 | $59.2M | $5.7M | ||
| Q4 24 | $299.5M | $59.7M | ||
| Q3 24 | $62.1M | $17.6M | ||
| Q2 24 | $70.4M | $15.9M | ||
| Q1 24 | $92.2M | $9.4M |
自由现金流GNLRMAX
| 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GNLRMAX
| 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GNLRMAX
| 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GNLRMAX
| Q4 25 | 4.62× | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| 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
GNL
| Industrial And Distribution Segment | $56.0M | 48% |
| Office Segment | $30.8M | 26% |
| Single Tenant Retail Segment | $30.2M | 26% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
