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佳明（GRMN）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
佳明的季度营收约是利氏兄弟拍卖行的1.5倍（$1.8B vs $1.2B），佳明净利率更高（23.1% vs 9.1%，领先14.0%），佳明同比增速更快（14.0% vs 5.4%），佳明自由现金流更多（$469.4M vs $186.5M），过去两年佳明的营收复合增速更高（7.9% vs 6.3%）
佳明（Garmin）是总部位于美国堪萨斯州奥拉西的跨国科技企业，专注于设计、研发、生产及销售GPS功能产品，以及导航、通讯、传感类信息产品，业务覆盖汽车、航空、航海、户外、运动健身等多个领域。
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。
GRMN vs RBA — 直观对比
营收规模更大
GRMN
是对方的1.5倍
$1.2B
营收增速更快
GRMN
高出8.6%
5.4%
净利率更高
GRMN
高出14.0%
9.1%
自由现金流更多
GRMN
多$282.9M
$186.5M
两年增速更快
GRMN
近两年复合增速
6.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.2B |
| 净利润 | $405.1M | $109.7M |
| 毛利率 | 59.4% | — |
| 营业利润率 | 24.6% | 14.7% |
| 净利率 | 23.1% | 9.1% |
| 营收同比 | 14.0% | 5.4% |
| 净利润同比 | 21.7% | -7.4% |
| 每股收益（稀释后） | $2.09 | $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GRMNRBA
| Q1 26 | $1.8B | — | ||
| Q4 25 | $2.1B | $1.2B | ||
| Q3 25 | $1.8B | $1.1B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.5B | $1.1B | ||
| Q4 24 | $1.8B | $1.1B | ||
| Q3 24 | $1.6B | $981.8M | ||
| Q2 24 | $1.5B | $1.1B |
净利润GRMNRBA
| Q1 26 | $405.1M | — | ||
| Q4 25 | $528.7M | $109.7M | ||
| Q3 25 | $401.6M | $95.5M | ||
| Q2 25 | $400.8M | $109.8M | ||
| Q1 25 | $332.8M | $113.4M | ||
| Q4 24 | $435.7M | $118.5M | ||
| Q3 24 | $399.1M | $76.1M | ||
| Q2 24 | $300.6M | $111.1M |
毛利率GRMNRBA
| Q1 26 | 59.4% | — | ||
| Q4 25 | 59.2% | — | ||
| Q3 25 | 59.1% | — | ||
| Q2 25 | 58.8% | — | ||
| Q1 25 | 57.6% | — | ||
| Q4 24 | 59.3% | — | ||
| Q3 24 | 60.0% | — | ||
| Q2 24 | 57.3% | — |
营业利润率GRMNRBA
| Q1 26 | 24.6% | — | ||
| Q4 25 | 28.9% | 14.7% | ||
| Q3 25 | 25.8% | 14.5% | ||
| Q2 25 | 26.0% | 15.9% | ||
| Q1 25 | 21.7% | 17.1% | ||
| Q4 24 | 28.3% | 18.1% | ||
| Q3 24 | 27.6% | 15.6% | ||
| Q2 24 | 22.7% | 18.4% |
净利率GRMNRBA
| Q1 26 | 23.1% | — | ||
| Q4 25 | 24.9% | 9.1% | ||
| Q3 25 | 22.7% | 8.7% | ||
| Q2 25 | 22.1% | 9.3% | ||
| Q1 25 | 21.7% | 10.2% | ||
| Q4 24 | 23.9% | 10.4% | ||
| Q3 24 | 25.2% | 7.8% | ||
| Q2 24 | 20.0% | 10.1% |
每股收益（稀释后）GRMNRBA
| Q1 26 | $2.09 | — | ||
| Q4 25 | $2.72 | $0.53 | ||
| Q3 25 | $2.08 | $0.43 | ||
| Q2 25 | $2.07 | $0.53 | ||
| Q1 25 | $1.72 | $0.55 | ||
| Q4 24 | $2.24 | $0.58 | ||
| Q3 24 | $2.07 | $0.36 | ||
| Q2 24 | $1.56 | $0.54 |
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 | $2.3B | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | — | $5.6B |
| 总资产 | $11.0B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资GRMNRBA
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $531.5M | ||
| Q3 25 | $2.1B | $674.7M | ||
| Q2 25 | $2.1B | $710.2M | ||
| Q1 25 | $2.2B | $578.1M | ||
| Q4 24 | $2.1B | $533.9M | ||
| Q3 24 | $2.0B | $650.7M | ||
| Q2 24 | $1.9B | $599.5M |
总债务GRMNRBA
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B |
股东权益GRMNRBA
| Q1 26 | — | — | ||
| Q4 25 | $9.0B | $5.6B | ||
| Q3 25 | $8.5B | $5.5B | ||
| Q2 25 | $8.1B | $5.5B | ||
| Q1 25 | $8.2B | $5.3B | ||
| Q4 24 | $7.8B | $5.2B | ||
| Q3 24 | $7.5B | $5.2B | ||
| Q2 24 | $7.0B | $5.2B |
总资产GRMNRBA
| Q1 26 | $11.0B | — | ||
| Q4 25 | $11.0B | $12.1B | ||
| Q3 25 | $10.5B | $12.2B | ||
| Q2 25 | $10.3B | $12.2B | ||
| Q1 25 | $9.8B | $11.9B | ||
| Q4 24 | $9.6B | $11.8B | ||
| Q3 24 | $9.3B | $11.9B | ||
| Q2 24 | $8.9B | $12.1B |
负债/权益比GRMNRBA
| Q1 26 | — | — | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× |
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 | $536.0M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $469.4M | $186.5M |
| 自由现金流率自由现金流/营收 | 26.8% | 15.5% |
| 资本支出强度资本支出/营收 | — | 5.7% |
| 现金转化率经营现金流/净利润 | 1.32× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $1.5B | $719.2M |
8季度趋势，按日历期对齐
经营现金流GRMNRBA
| Q1 26 | $536.0M | — | ||
| Q4 25 | $553.8M | $255.2M | ||
| Q3 25 | $485.6M | $239.7M | ||
| Q2 25 | $173.2M | $326.5M | ||
| Q1 25 | $420.8M | $156.8M | ||
| Q4 24 | $483.9M | $184.5M | ||
| Q3 24 | $258.0M | $285.4M | ||
| Q2 24 | $255.3M | $337.3M |
自由现金流GRMNRBA
| Q1 26 | $469.4M | — | ||
| Q4 25 | $429.6M | $186.5M | ||
| Q3 25 | $425.1M | $188.5M | ||
| Q2 25 | $127.5M | $241.7M | ||
| Q1 25 | $380.7M | $102.5M | ||
| Q4 24 | $399.2M | $127.9M | ||
| Q3 24 | $219.4M | $248.5M | ||
| Q2 24 | $218.2M | $308.6M |
自由现金流率GRMNRBA
| Q1 26 | 26.8% | — | ||
| Q4 25 | 20.2% | 15.5% | ||
| Q3 25 | 24.0% | 17.3% | ||
| Q2 25 | 7.0% | 20.4% | ||
| Q1 25 | 24.8% | 9.2% | ||
| Q4 24 | 21.9% | 11.2% | ||
| Q3 24 | 13.8% | 25.3% | ||
| Q2 24 | 14.5% | 28.2% |
资本支出强度GRMNRBA
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 5.7% | ||
| Q3 25 | 3.4% | 4.7% | ||
| Q2 25 | 2.5% | 7.2% | ||
| Q1 25 | 2.6% | 4.9% | ||
| Q4 24 | 4.6% | 5.0% | ||
| Q3 24 | 2.4% | 3.8% | ||
| Q2 24 | 2.5% | 2.6% |
现金转化率GRMNRBA
| Q1 26 | 1.32× | — | ||
| Q4 25 | 1.05× | 2.33× | ||
| Q3 25 | 1.21× | 2.51× | ||
| Q2 25 | 0.43× | 2.97× | ||
| Q1 25 | 1.26× | 1.38× | ||
| Q4 24 | 1.11× | 1.56× | ||
| Q3 24 | 0.65× | 3.75× | ||
| Q2 24 | 0.85× | 3.04× |
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
GRMN
暂无分部数据
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
