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GrowGeneration Corp.（GRWG）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GrowGeneration Corp.的1.9倍（$71.1M vs $37.8M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -19.6%，领先21.6%），GrowGeneration Corp.同比增速更快（1.0% vs -1.8%），过去两年RE/MAX Holdings, Inc.的营收复合增速更高（-4.7% vs -11.1%）
GrowGeneration Corp是美国领先的水培及有机园艺用品专业零售商，主营种植灯、营养液、环境控制系统、栽培工具等全系列产品，通过覆盖全国的实体门店和电商渠道，为商业室内种植从业者（包括合法大麻种植商）及家庭园艺爱好者提供服务。
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。
GRWG vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.9倍
$37.8M
营收增速更快
GRWG
高出2.9%
-1.8%
净利率更高
RMAX
高出21.6%
-19.6%
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 | $37.8M | $71.1M |
| 净利润 | $-7.4M | $1.4M |
| 毛利率 | 24.1% | — |
| 营业利润率 | -20.1% | 13.1% |
| 净利率 | -19.6% | 2.0% |
| 营收同比 | 1.0% | -1.8% |
| 净利润同比 | 68.2% | -75.2% |
| 每股收益（稀释后） | $-0.12 | — |
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GRWGRMAX
| Q4 25 | $37.8M | $71.1M | ||
| Q3 25 | $47.3M | $73.2M | ||
| Q2 25 | $41.0M | $72.8M | ||
| Q1 25 | $35.7M | $74.5M | ||
| Q4 24 | $37.4M | $72.5M | ||
| Q3 24 | $50.0M | $78.5M | ||
| Q2 24 | $53.5M | $78.5M | ||
| Q1 24 | $47.9M | $78.3M |
净利润GRWGRMAX
| Q4 25 | $-7.4M | $1.4M | ||
| Q3 25 | $-2.4M | $4.0M | ||
| Q2 25 | $-4.8M | $4.7M | ||
| Q1 25 | $-9.4M | $-2.0M | ||
| Q4 24 | $-23.3M | $5.8M | ||
| Q3 24 | $-11.4M | $966.0K | ||
| Q2 24 | $-5.9M | $3.7M | ||
| Q1 24 | $-8.8M | $-3.4M |
毛利率GRWGRMAX
| Q4 25 | 24.1% | — | ||
| Q3 25 | 27.2% | — | ||
| Q2 25 | 28.3% | — | ||
| Q1 25 | 27.2% | — | ||
| Q4 24 | 16.4% | — | ||
| Q3 24 | 21.6% | — | ||
| Q2 24 | 26.9% | — | ||
| Q1 24 | 25.8% | — |
营业利润率GRWGRMAX
| Q4 25 | -20.1% | 13.1% | ||
| Q3 25 | -6.0% | 25.0% | ||
| Q2 25 | -12.9% | 19.3% | ||
| Q1 25 | -27.7% | 7.2% | ||
| Q4 24 | -63.9% | 5.9% | ||
| Q3 24 | -24.2% | 19.4% | ||
| Q2 24 | -12.2% | 20.6% | ||
| Q1 24 | -19.7% | 5.8% |
净利率GRWGRMAX
| Q4 25 | -19.6% | 2.0% | ||
| Q3 25 | -5.2% | 5.4% | ||
| Q2 25 | -11.7% | 6.4% | ||
| Q1 25 | -26.3% | -2.6% | ||
| Q4 24 | -62.4% | 8.0% | ||
| Q3 24 | -22.9% | 1.2% | ||
| Q2 24 | -11.0% | 4.7% | ||
| Q1 24 | -18.5% | -4.3% |
每股收益（稀释后）GRWGRMAX
| Q4 25 | $-0.12 | — | ||
| Q3 25 | $-0.04 | — | ||
| Q2 25 | $-0.08 | — | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $-0.39 | — | ||
| Q3 24 | $-0.19 | — | ||
| Q2 24 | $-0.10 | — | ||
| Q1 24 | $-0.14 | — |
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 | $46.1M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $97.5M | $452.4M |
| 总资产 | $147.0M | $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GRWGRMAX
| Q4 25 | $46.1M | $118.7M | ||
| Q3 25 | $48.3M | $107.5M | ||
| Q2 25 | $48.7M | $94.3M | ||
| Q1 25 | $52.6M | $89.1M | ||
| Q4 24 | $56.5M | $96.6M | ||
| Q3 24 | $55.2M | $83.8M | ||
| Q2 24 | $56.0M | $66.1M | ||
| Q1 24 | $61.3M | $82.1M |
总债务GRWGRMAX
| 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GRWGRMAX
| Q4 25 | $97.5M | $452.4M | ||
| Q3 25 | $104.7M | $448.1M | ||
| Q2 25 | $106.7M | $442.4M | ||
| Q1 25 | $111.2M | $433.5M | ||
| Q4 24 | $120.1M | $429.5M | ||
| Q3 24 | $143.2M | $423.1M | ||
| Q2 24 | $155.8M | $418.4M | ||
| Q1 24 | $165.3M | $412.0M |
总资产GRWGRMAX
| Q4 25 | $147.0M | $582.5M | ||
| Q3 25 | $159.6M | $582.2M | ||
| Q2 25 | $160.6M | $574.8M | ||
| Q1 25 | $164.2M | $571.4M | ||
| Q4 24 | $174.4M | $581.6M | ||
| Q3 24 | $199.6M | $578.6M | ||
| Q2 24 | $219.2M | $571.4M | ||
| Q1 24 | $230.4M | $566.7M |
负债/权益比GRWGRMAX
| 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 | $-2.2M | $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 | — | 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GRWGRMAX
| Q4 25 | $-2.2M | $40.9M | ||
| Q3 25 | $-499.0K | $17.7M | ||
| Q2 25 | $-2.9M | $4.6M | ||
| Q1 25 | $-3.8M | $5.7M | ||
| Q4 24 | $1.1M | $59.7M | ||
| Q3 24 | $1.2M | $17.6M | ||
| Q2 24 | $-398.0K | $15.9M | ||
| Q1 24 | $-3.6M | $9.4M |
自由现金流GRWGRMAX
| 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GRWGRMAX
| 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GRWGRMAX
| 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GRWGRMAX
| Q4 25 | — | 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
GRWG
| Consumables | $22.3M | 59% |
| Durables | $9.8M | 26% |
| Commercial Fixture Sales | $5.7M | 15% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
