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NLIGHT, INC.（LASR）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
NLIGHT, INC.的季度营收约是RE/MAX Holdings, Inc.的1.1倍（$81.2M vs $71.1M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -6.0%，领先8.1%），NLIGHT, INC.同比增速更快（71.3% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $15.9M），过去两年NLIGHT, INC.的营收复合增速更高（35.0% vs -4.7%）
nLight Inc.是全球领先的高性能半导体激光器、光纤激光器及相关光学组件研发生产商，产品广泛应用于工业精密制造、航空航天与国防、医疗设备、前沿研究等核心领域，客户遍及北美、欧洲及亚太地区。
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。
LASR vs RMAX — 直观对比
营收规模更大
LASR
是对方的1.1倍
$71.1M
营收增速更快
LASR
高出73.2%
-1.8%
净利率更高
RMAX
高出8.1%
-6.0%
自由现金流更多
RMAX
多$17.6M
$15.9M
两年增速更快
LASR
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $81.2M | $71.1M |
| 净利润 | $-4.9M | $1.4M |
| 毛利率 | 30.7% | — |
| 营业利润率 | -6.7% | 13.1% |
| 净利率 | -6.0% | 2.0% |
| 营收同比 | 71.3% | -1.8% |
| 净利润同比 | 80.3% | -75.2% |
| 每股收益（稀释后） | $-0.10 | — |
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LASRRMAX
| Q4 25 | $81.2M | $71.1M | ||
| Q3 25 | $66.7M | $73.2M | ||
| Q2 25 | $61.7M | $72.8M | ||
| Q1 25 | $51.7M | $74.5M | ||
| Q4 24 | $47.4M | $72.5M | ||
| Q3 24 | $56.1M | $78.5M | ||
| Q2 24 | $50.5M | $78.5M | ||
| Q1 24 | $44.5M | $78.3M |
净利润LASRRMAX
| Q4 25 | $-4.9M | $1.4M | ||
| Q3 25 | $-6.9M | $4.0M | ||
| Q2 25 | $-3.6M | $4.7M | ||
| Q1 25 | $-8.1M | $-2.0M | ||
| Q4 24 | $-25.0M | $5.8M | ||
| Q3 24 | $-10.3M | $966.0K | ||
| Q2 24 | $-11.7M | $3.7M | ||
| Q1 24 | $-13.8M | $-3.4M |
毛利率LASRRMAX
| Q4 25 | 30.7% | — | ||
| Q3 25 | 31.1% | — | ||
| Q2 25 | 29.9% | — | ||
| Q1 25 | 26.7% | — | ||
| Q4 24 | 2.4% | — | ||
| Q3 24 | 22.4% | — | ||
| Q2 24 | 23.5% | — | ||
| Q1 24 | 16.8% | — |
营业利润率LASRRMAX
| Q4 25 | -6.7% | 13.1% | ||
| Q3 25 | -10.9% | 25.0% | ||
| Q2 25 | -6.9% | 19.3% | ||
| Q1 25 | -18.6% | 7.2% | ||
| Q4 24 | -55.8% | 5.9% | ||
| Q3 24 | -21.0% | 19.4% | ||
| Q2 24 | -25.1% | 20.6% | ||
| Q1 24 | -33.1% | 5.8% |
净利率LASRRMAX
| Q4 25 | -6.0% | 2.0% | ||
| Q3 25 | -10.3% | 5.4% | ||
| Q2 25 | -5.8% | 6.4% | ||
| Q1 25 | -15.7% | -2.6% | ||
| Q4 24 | -52.7% | 8.0% | ||
| Q3 24 | -18.4% | 1.2% | ||
| Q2 24 | -23.2% | 4.7% | ||
| Q1 24 | -30.9% | -4.3% |
每股收益（稀释后）LASRRMAX
| Q4 25 | $-0.10 | — | ||
| Q3 25 | $-0.14 | — | ||
| Q2 25 | $-0.07 | — | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $-0.52 | — | ||
| Q3 24 | $-0.21 | — | ||
| Q2 24 | $-0.25 | — | ||
| Q1 24 | $-0.29 | — |
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 | $98.7M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $226.7M | $452.4M |
| 总资产 | $315.2M | $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LASRRMAX
| Q4 25 | $98.7M | $118.7M | ||
| Q3 25 | $81.1M | $107.5M | ||
| Q2 25 | $78.8M | $94.3M | ||
| Q1 25 | $82.2M | $89.1M | ||
| Q4 24 | $65.8M | $96.6M | ||
| Q3 24 | $41.5M | $83.8M | ||
| Q2 24 | $49.4M | $66.1M | ||
| Q1 24 | $61.3M | $82.1M |
总债务LASRRMAX
| 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LASRRMAX
| Q4 25 | $226.7M | $452.4M | ||
| Q3 25 | $218.5M | $448.1M | ||
| Q2 25 | $216.0M | $442.4M | ||
| Q1 25 | $212.8M | $433.5M | ||
| Q4 24 | $216.4M | $429.5M | ||
| Q3 24 | $235.3M | $423.1M | ||
| Q2 24 | $239.5M | $418.4M | ||
| Q1 24 | $244.4M | $412.0M |
总资产LASRRMAX
| Q4 25 | $315.2M | $582.5M | ||
| Q3 25 | $298.7M | $582.2M | ||
| Q2 25 | $295.3M | $574.8M | ||
| Q1 25 | $290.0M | $571.4M | ||
| Q4 24 | $270.2M | $581.6M | ||
| Q3 24 | $291.3M | $578.6M | ||
| Q2 24 | $294.3M | $571.4M | ||
| Q1 24 | $302.8M | $566.7M |
负债/权益比LASRRMAX
| 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 | $17.5M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $15.9M | $33.5M |
| 自由现金流率自由现金流/营收 | 19.6% | 47.1% |
| 资本支出强度资本支出/营收 | 2.0% | 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 | $12.3M | $56.8M |
8季度趋势，按日历期对齐
经营现金流LASRRMAX
| Q4 25 | $17.5M | $40.9M | ||
| Q3 25 | $5.2M | $17.7M | ||
| Q2 25 | $-1.4M | $4.6M | ||
| Q1 25 | $-20.0K | $5.7M | ||
| Q4 24 | $-3.9M | $59.7M | ||
| Q3 24 | $-5.6M | $17.6M | ||
| Q2 24 | $-4.2M | $15.9M | ||
| Q1 24 | $11.4M | $9.4M |
自由现金流LASRRMAX
| Q4 25 | $15.9M | $33.5M | ||
| Q3 25 | $2.4M | $16.4M | ||
| Q2 25 | $-3.8M | $2.9M | ||
| Q1 25 | $-2.3M | $4.0M | ||
| Q4 24 | $-6.5M | $53.0M | ||
| Q3 24 | $-7.2M | $16.3M | ||
| Q2 24 | $-6.4M | $14.0M | ||
| Q1 24 | $9.8M | $6.8M |
自由现金流率LASRRMAX
| Q4 25 | 19.6% | 47.1% | ||
| Q3 25 | 3.7% | 22.4% | ||
| Q2 25 | -6.1% | 4.0% | ||
| Q1 25 | -4.5% | 5.3% | ||
| Q4 24 | -13.7% | 73.2% | ||
| Q3 24 | -12.9% | 20.8% | ||
| Q2 24 | -12.6% | 17.8% | ||
| Q1 24 | 22.1% | 8.6% |
资本支出强度LASRRMAX
| Q4 25 | 2.0% | 10.4% | ||
| Q3 25 | 4.2% | 1.8% | ||
| Q2 25 | 3.9% | 2.2% | ||
| Q1 25 | 4.4% | 2.3% | ||
| Q4 24 | 5.5% | 9.1% | ||
| Q3 24 | 2.9% | 1.7% | ||
| Q2 24 | 4.2% | 2.4% | ||
| Q1 24 | 3.5% | 3.3% |
现金转化率LASRRMAX
| 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
LASR
| Aerospaceand Defense | $56.3M | 69% |
| Microfabrication | $14.2M | 18% |
| Industrial | $10.7M | 13% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
