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HA Sustainable Infrastructure Capital, Inc.（HASI）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
HA Sustainable Infrastructure Capital, Inc.的季度营收约是RE/MAX Holdings, Inc.的1.6倍（$114.8M vs $71.1M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -46.8%，领先48.9%），HA Sustainable Infrastructure Capital, Inc.同比增速更快（13.3% vs -1.8%），过去两年HA Sustainable Infrastructure Capital, Inc.的营收复合增速更高（4.2% vs -4.7%）
HA可持续基础设施资本公司（HASI）是一家聚焦可持续基础设施领域的专业投资机构，业务覆盖可再生能源、能效提升、可持续地产及低碳公用事业板块，主要在北美市场运营，为合格绿色项目提供长期资本支持，为投资者创造稳定的经风险调整后回报。
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。
HASI vs RMAX — 直观对比
营收规模更大
HASI
是对方的1.6倍
$71.1M
营收增速更快
HASI
高出15.2%
-1.8%
净利率更高
RMAX
高出48.9%
-46.8%
两年增速更快
HASI
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $114.8M | $71.1M |
| 净利润 | $-53.8M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | -57.4% | 13.1% |
| 净利率 | -46.8% | 2.0% |
| 营收同比 | 13.3% | -1.8% |
| 净利润同比 | -176.7% | -75.2% |
| 每股收益（稀释后） | $-0.38 | — |
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HASIRMAX
| Q4 25 | $114.8M | $71.1M | ||
| Q3 25 | $103.1M | $73.2M | ||
| Q2 25 | $85.7M | $72.8M | ||
| Q1 25 | $96.9M | $74.5M | ||
| Q4 24 | $101.3M | $72.5M | ||
| Q3 24 | $82.0M | $78.5M | ||
| Q2 24 | $94.5M | $78.5M | ||
| Q1 24 | $105.8M | $78.3M |
净利润HASIRMAX
| Q4 25 | $-53.8M | $1.4M | ||
| Q3 25 | $83.3M | $4.0M | ||
| Q2 25 | $98.4M | $4.7M | ||
| Q1 25 | $56.6M | $-2.0M | ||
| Q4 24 | $70.1M | $5.8M | ||
| Q3 24 | $-19.6M | $966.0K | ||
| Q2 24 | $26.5M | $3.7M | ||
| Q1 24 | $123.0M | $-3.4M |
营业利润率HASIRMAX
| Q4 25 | -57.4% | 13.1% | ||
| Q3 25 | — | 25.0% | ||
| Q2 25 | — | 19.3% | ||
| Q1 25 | 84.7% | 7.2% | ||
| Q4 24 | 90.9% | 5.9% | ||
| Q3 24 | -32.1% | 19.4% | ||
| Q2 24 | 39.5% | 20.6% | ||
| Q1 24 | — | 5.8% |
净利率HASIRMAX
| Q4 25 | -46.8% | 2.0% | ||
| Q3 25 | 80.8% | 5.4% | ||
| Q2 25 | 114.9% | 6.4% | ||
| Q1 25 | 58.4% | -2.6% | ||
| Q4 24 | 69.2% | 8.0% | ||
| Q3 24 | -23.9% | 1.2% | ||
| Q2 24 | 28.1% | 4.7% | ||
| Q1 24 | 116.3% | -4.3% |
每股收益（稀释后）HASIRMAX
| Q4 25 | $-0.38 | — | ||
| Q3 25 | $0.61 | — | ||
| Q2 25 | $0.74 | — | ||
| Q1 25 | $0.44 | — | ||
| Q4 24 | $0.58 | — | ||
| Q3 24 | $-0.17 | — | ||
| Q2 24 | $0.23 | — | ||
| Q1 24 | $0.98 | — |
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 | $110.2M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $2.7B | $452.4M |
| 总资产 | $8.2B | $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HASIRMAX
| Q4 25 | $110.2M | $118.7M | ||
| Q3 25 | $301.8M | $107.5M | ||
| Q2 25 | $86.5M | $94.3M | ||
| Q1 25 | $67.4M | $89.1M | ||
| Q4 24 | $129.8M | $96.6M | ||
| Q3 24 | $44.1M | $83.8M | ||
| Q2 24 | $145.7M | $66.1M | ||
| Q1 24 | $61.4M | $82.1M |
总债务HASIRMAX
| 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HASIRMAX
| Q4 25 | $2.7B | $452.4M | ||
| Q3 25 | $2.7B | $448.1M | ||
| Q2 25 | $2.6B | $442.4M | ||
| Q1 25 | $2.5B | $433.5M | ||
| Q4 24 | $2.4B | $429.5M | ||
| Q3 24 | $2.3B | $423.1M | ||
| Q2 24 | $2.3B | $418.4M | ||
| Q1 24 | $2.3B | $412.0M |
总资产HASIRMAX
| Q4 25 | $8.2B | $582.5M | ||
| Q3 25 | $8.2B | $582.2M | ||
| Q2 25 | $7.6B | $574.8M | ||
| Q1 25 | $7.5B | $571.4M | ||
| Q4 24 | $7.1B | $581.6M | ||
| Q3 24 | $6.7B | $578.6M | ||
| Q2 24 | $6.7B | $571.4M | ||
| Q1 24 | $6.7B | $566.7M |
负债/权益比HASIRMAX
| 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 | $167.3M | $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HASIRMAX
| Q4 25 | $167.3M | $40.9M | ||
| Q3 25 | $-121.8M | $17.7M | ||
| Q2 25 | $79.6M | $4.6M | ||
| Q1 25 | $-37.1M | $5.7M | ||
| Q4 24 | $5.9M | $59.7M | ||
| Q3 24 | $21.9M | $17.6M | ||
| Q2 24 | $-24.8M | $15.9M | ||
| Q1 24 | $20.9M | $9.4M |
自由现金流HASIRMAX
| 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HASIRMAX
| 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HASIRMAX
| 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HASIRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | -1.46× | 4.45× | ||
| Q2 25 | 0.81× | 0.97× | ||
| Q1 25 | -0.66× | — | ||
| Q4 24 | 0.08× | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | -0.94× | 4.29× | ||
| Q1 24 | 0.17× | — |
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
HASI
暂无分部数据
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
