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Groupon, Inc.（GRPN）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
Groupon, Inc.的季度营收约是RE/MAX Holdings, Inc.的1.9倍（$132.7M vs $71.1M），Groupon, Inc.净利率更高（6.0% vs 2.0%，领先4.0%），Groupon, Inc.同比增速更快（1.8% vs -1.8%），Groupon, Inc.自由现金流更多（$53.0M vs $33.5M），过去两年Groupon, Inc.的营收复合增速更高（3.8% vs -4.7%）
Groupon股份有限公司是源自美国的电子商务平台，业务覆盖全球13个国家，主打本地生活服务领域，主打以团购优惠券的模式，连接消费者与本地商户，覆盖休闲活动、旅行、商品及各类生活服务等多个品类。
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。
GRPN vs RMAX — 直观对比
营收规模更大
GRPN
是对方的1.9倍
$71.1M
营收增速更快
GRPN
高出3.6%
-1.8%
净利率更高
GRPN
高出4.0%
2.0%
自由现金流更多
GRPN
多$19.5M
$33.5M
两年增速更快
GRPN
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $132.7M | $71.1M |
| 净利润 | $7.9M | $1.4M |
| 毛利率 | 90.4% | — |
| 营业利润率 | 4.9% | 13.1% |
| 净利率 | 6.0% | 2.0% |
| 营收同比 | 1.8% | -1.8% |
| 净利润同比 | 115.8% | -75.2% |
| 每股收益（稀释后） | $0.21 | — |
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GRPNRMAX
| Q4 25 | $132.7M | $71.1M | ||
| Q3 25 | $122.8M | $73.2M | ||
| Q2 25 | $125.7M | $72.8M | ||
| Q1 25 | $117.2M | $74.5M | ||
| Q4 24 | $130.4M | $72.5M | ||
| Q3 24 | $114.5M | $78.5M | ||
| Q2 24 | $124.6M | $78.5M | ||
| Q1 24 | $123.1M | $78.3M |
净利润GRPNRMAX
| Q4 25 | $7.9M | $1.4M | ||
| Q3 25 | $-118.4M | $4.0M | ||
| Q2 25 | $20.3M | $4.7M | ||
| Q1 25 | $7.2M | $-2.0M | ||
| Q4 24 | $-50.1M | $5.8M | ||
| Q3 24 | $13.9M | $966.0K | ||
| Q2 24 | $-10.0M | $3.7M | ||
| Q1 24 | $-12.3M | $-3.4M |
毛利率GRPNRMAX
| Q4 25 | 90.4% | — | ||
| Q3 25 | 91.1% | — | ||
| Q2 25 | 91.0% | — | ||
| Q1 25 | 90.7% | — | ||
| Q4 24 | 90.6% | — | ||
| Q3 24 | 89.9% | — | ||
| Q2 24 | 90.4% | — | ||
| Q1 24 | 89.8% | — |
营业利润率GRPNRMAX
| Q4 25 | 4.9% | 13.1% | ||
| Q3 25 | 1.8% | 25.0% | ||
| Q2 25 | 10.4% | 19.3% | ||
| Q1 25 | 1.6% | 7.2% | ||
| Q4 24 | 2.0% | 5.9% | ||
| Q3 24 | -4.9% | 19.4% | ||
| Q2 24 | 3.5% | 20.6% | ||
| Q1 24 | 6.0% | 5.8% |
净利率GRPNRMAX
| Q4 25 | 6.0% | 2.0% | ||
| Q3 25 | -96.4% | 5.4% | ||
| Q2 25 | 16.2% | 6.4% | ||
| Q1 25 | 6.1% | -2.6% | ||
| Q4 24 | -38.4% | 8.0% | ||
| Q3 24 | 12.2% | 1.2% | ||
| Q2 24 | -8.1% | 4.7% | ||
| Q1 24 | -10.0% | -4.3% |
每股收益（稀释后）GRPNRMAX
| Q4 25 | $0.21 | — | ||
| Q3 25 | $-2.92 | — | ||
| Q2 25 | $0.46 | — | ||
| Q1 25 | $0.17 | — | ||
| Q4 24 | $-1.26 | — | ||
| Q3 24 | $0.33 | — | ||
| Q2 24 | $-0.25 | — | ||
| Q1 24 | $-0.33 | — |
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 | $296.1M | $118.7M |
| 总债务越低越好 | $342.8M | $432.2M |
| 股东权益账面价值 | $-42.6M | $452.4M |
| 总资产 | $670.4M | $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GRPNRMAX
| Q4 25 | $296.1M | $118.7M | ||
| Q3 25 | $238.5M | $107.5M | ||
| Q2 25 | $262.6M | $94.3M | ||
| Q1 25 | $226.8M | $89.1M | ||
| Q4 24 | $228.8M | $96.6M | ||
| Q3 24 | $159.7M | $83.8M | ||
| Q2 24 | $178.1M | $66.1M | ||
| Q1 24 | $158.7M | $82.1M |
总债务GRPNRMAX
| Q4 25 | $342.8M | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | $246.0M | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
股东权益GRPNRMAX
| Q4 25 | $-42.6M | $452.4M | ||
| Q3 25 | $-59.6M | $448.1M | ||
| Q2 25 | $51.2M | $442.4M | ||
| Q1 25 | $45.5M | $433.5M | ||
| Q4 24 | $40.8M | $429.5M | ||
| Q3 24 | $40.0M | $423.1M | ||
| Q2 24 | $40.2M | $418.4M | ||
| Q1 24 | $41.2M | $412.0M |
总资产GRPNRMAX
| Q4 25 | $670.4M | $582.5M | ||
| Q3 25 | $608.2M | $582.2M | ||
| Q2 25 | $647.4M | $574.8M | ||
| Q1 25 | $608.2M | $571.4M | ||
| Q4 24 | $612.7M | $581.6M | ||
| Q3 24 | $548.0M | $578.6M | ||
| Q2 24 | $572.8M | $571.4M | ||
| Q1 24 | $580.5M | $566.7M |
负债/权益比GRPNRMAX
| Q4 25 | — | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | 6.03× | 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 | $56.6M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $53.0M | $33.5M |
| 自由现金流率自由现金流/营收 | 40.0% | 47.1% |
| 资本支出强度资本支出/营收 | 2.7% | 10.4% |
| 现金转化率经营现金流/净利润 | 7.13× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $49.9M | $56.8M |
8季度趋势，按日历期对齐
经营现金流GRPNRMAX
| Q4 25 | $56.6M | $40.9M | ||
| Q3 25 | $-20.5M | $17.7M | ||
| Q2 25 | $28.4M | $4.6M | ||
| Q1 25 | $-22.0K | $5.7M | ||
| Q4 24 | $67.0M | $59.7M | ||
| Q3 24 | $-16.3M | $17.6M | ||
| Q2 24 | $15.3M | $15.9M | ||
| Q1 24 | $-10.1M | $9.4M |
自由现金流GRPNRMAX
| Q4 25 | $53.0M | $33.5M | ||
| Q3 25 | $-24.6M | $16.4M | ||
| Q2 25 | $25.2M | $2.9M | ||
| Q1 25 | $-3.8M | $4.0M | ||
| Q4 24 | $63.2M | $53.0M | ||
| Q3 24 | $-19.7M | $16.3M | ||
| Q2 24 | $10.8M | $14.0M | ||
| Q1 24 | $-13.8M | $6.8M |
自由现金流率GRPNRMAX
| Q4 25 | 40.0% | 47.1% | ||
| Q3 25 | -20.0% | 22.4% | ||
| Q2 25 | 20.0% | 4.0% | ||
| Q1 25 | -3.2% | 5.3% | ||
| Q4 24 | 48.5% | 73.2% | ||
| Q3 24 | -17.2% | 20.8% | ||
| Q2 24 | 8.7% | 17.8% | ||
| Q1 24 | -11.2% | 8.6% |
资本支出强度GRPNRMAX
| Q4 25 | 2.7% | 10.4% | ||
| Q3 25 | 3.3% | 1.8% | ||
| Q2 25 | 2.6% | 2.2% | ||
| Q1 25 | 3.2% | 2.3% | ||
| Q4 24 | 2.9% | 9.1% | ||
| Q3 24 | 3.0% | 1.7% | ||
| Q2 24 | 3.6% | 2.4% | ||
| Q1 24 | 3.0% | 3.3% |
现金转化率GRPNRMAX
| Q4 25 | 7.13× | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | 1.40× | 0.97× | ||
| Q1 25 | -0.00× | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | -1.17× | 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
GRPN
| Service Local | $94.8M | 71% |
| Other | $35.6M | 27% |
| Service Travel | $2.3M | 2% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
