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香港置地（LAND）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.的季度营收约是香港置地的1.7倍（$71.1M vs $41.5M），香港置地净利率更高（10.2% vs 2.0%，领先8.1%），香港置地同比增速更快（96.5% vs -1.8%），过去两年香港置地的营收复合增速更高（43.1% vs -4.7%）
香港置地是一家专注于房地产投资、管理及开发的集团，在亚洲各地布局商业与住宅地产业务。目前集团在亚洲持有并运营约85万平方米的写字楼及商业零售物业，核心布局中国香港与新加坡两地，其中香港中环的商业物业规模居当地首位，新加坡则主要通过合资持有约16.5万平方米的写字楼空间。
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。
LAND vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.7倍
$41.5M
营收增速更快
LAND
高出98.3%
-1.8%
净利率更高
LAND
高出8.1%
2.0%
两年增速更快
LAND
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $41.5M | $71.1M |
| 净利润 | $4.2M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | — | 13.1% |
| 净利率 | 10.2% | 2.0% |
| 营收同比 | 96.5% | -1.8% |
| 净利润同比 | 680.0% | -75.2% |
| 每股收益（稀释后） | $-0.05 | — |
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LANDRMAX
| Q4 25 | $41.5M | $71.1M | ||
| Q3 25 | $17.8M | $73.2M | ||
| Q2 25 | $12.3M | $72.8M | ||
| Q1 25 | $16.8M | $74.5M | ||
| Q4 24 | $21.1M | $72.5M | ||
| Q3 24 | $22.6M | $78.5M | ||
| Q2 24 | $21.3M | $78.5M | ||
| Q1 24 | $20.3M | $78.3M |
净利润LANDRMAX
| Q4 25 | $4.2M | $1.4M | ||
| Q3 25 | $2.1M | $4.0M | ||
| Q2 25 | $-7.9M | $4.7M | ||
| Q1 25 | $15.1M | $-2.0M | ||
| Q4 24 | $540.0K | $5.8M | ||
| Q3 24 | $6.0K | $966.0K | ||
| Q2 24 | $-823.0K | $3.7M | ||
| Q1 24 | $13.6M | $-3.4M |
营业利润率LANDRMAX
| Q4 25 | — | 13.1% | ||
| Q3 25 | — | 25.0% | ||
| Q2 25 | — | 19.3% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | — | 5.9% | ||
| Q3 24 | — | 19.4% | ||
| Q2 24 | — | 20.6% | ||
| Q1 24 | — | 5.8% |
净利率LANDRMAX
| Q4 25 | 10.2% | 2.0% | ||
| Q3 25 | 11.7% | 5.4% | ||
| Q2 25 | -64.1% | 6.4% | ||
| Q1 25 | 89.9% | -2.6% | ||
| Q4 24 | 2.6% | 8.0% | ||
| Q3 24 | 0.0% | 1.2% | ||
| Q2 24 | -3.9% | 4.7% | ||
| Q1 24 | 67.0% | -4.3% |
每股收益（稀释后）LANDRMAX
| Q4 25 | $-0.05 | — | ||
| Q3 25 | $-0.11 | — | ||
| Q2 25 | $-0.38 | — | ||
| Q1 25 | $0.25 | — | ||
| Q4 24 | $-0.15 | — | ||
| Q3 24 | $-0.16 | — | ||
| Q2 24 | $-0.19 | — | ||
| Q1 24 | $0.21 | — |
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 | $27.2M | $118.7M |
| 总债务越低越好 | $473.6M | $432.2M |
| 股东权益账面价值 | $670.3M | $452.4M |
| 总资产 | $1.2B | $582.5M |
| 负债/权益比越低杠杆越低 | 0.71× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资LANDRMAX
| Q4 25 | $27.2M | $118.7M | ||
| Q3 25 | $11.3M | $107.5M | ||
| Q2 25 | $30.5M | $94.3M | ||
| Q1 25 | $42.9M | $89.1M | ||
| Q4 24 | $18.3M | $96.6M | ||
| Q3 24 | $13.2M | $83.8M | ||
| Q2 24 | $49.8M | $66.1M | ||
| Q1 24 | $51.6M | $82.1M |
总债务LANDRMAX
| Q4 25 | $473.6M | $432.2M | ||
| Q3 25 | $480.4M | $433.3M | ||
| Q2 25 | $496.4M | $434.4M | ||
| Q1 25 | $498.8M | $435.3M | ||
| Q4 24 | $527.5M | $436.2M | ||
| Q3 24 | $530.7M | $437.2M | ||
| Q2 24 | $549.4M | $438.1M | ||
| Q1 24 | $552.2M | $439.0M |
股东权益LANDRMAX
| Q4 25 | $670.3M | $452.4M | ||
| Q3 25 | $661.8M | $448.1M | ||
| Q2 25 | $670.1M | $442.4M | ||
| Q1 25 | $689.9M | $433.5M | ||
| Q4 24 | $687.2M | $429.5M | ||
| Q3 24 | $691.2M | $423.1M | ||
| Q2 24 | $708.5M | $418.4M | ||
| Q1 24 | $723.3M | $412.0M |
总资产LANDRMAX
| Q4 25 | $1.2B | $582.5M | ||
| Q3 25 | $1.2B | $582.2M | ||
| Q2 25 | $1.3B | $574.8M | ||
| Q1 25 | $1.3B | $571.4M | ||
| Q4 24 | $1.3B | $581.6M | ||
| Q3 24 | $1.3B | $578.6M | ||
| Q2 24 | $1.4B | $571.4M | ||
| Q1 24 | $1.4B | $566.7M |
负债/权益比LANDRMAX
| Q4 25 | 0.71× | 0.96× | ||
| Q3 25 | 0.73× | 0.97× | ||
| Q2 25 | 0.74× | 0.98× | ||
| Q1 25 | 0.72× | 1.00× | ||
| Q4 24 | 0.77× | 1.02× | ||
| Q3 24 | 0.77× | 1.03× | ||
| Q2 24 | 0.78× | 1.05× | ||
| Q1 24 | 0.76× | 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 | $7.0M | $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 | 1.66× | 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LANDRMAX
| Q4 25 | $7.0M | $40.9M | ||
| Q3 25 | $-12.0M | $17.7M | ||
| Q2 25 | $3.9M | $4.6M | ||
| Q1 25 | $4.5M | $5.7M | ||
| Q4 24 | $29.5M | $59.7M | ||
| Q3 24 | $-1.4M | $17.6M | ||
| Q2 24 | $15.9M | $15.9M | ||
| Q1 24 | $3.4M | $9.4M |
自由现金流LANDRMAX
| 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LANDRMAX
| 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LANDRMAX
| 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LANDRMAX
| Q4 25 | 1.66× | 28.39× | ||
| Q3 25 | -5.77× | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 54.72× | 10.28× | ||
| Q3 24 | -227.83× | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| Q1 24 | 0.25× | — |
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
LAND
暂无分部数据
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
