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Linkhome Holdings Inc.（LHAI）与Marcus & Millichap, Inc.（MMI）财务数据对比。点击上方公司名可切换其他公司
Marcus & Millichap, Inc.的季度营收约是Linkhome Holdings Inc.的48.0倍（$243.9M vs $5.1M）。Marcus & Millichap, Inc.净利率更高（5.5% vs -0.4%，领先5.8%）
联家控股有限公司是一家综合住宅租赁与物业管理服务商，主要面向中国市场运营，为业主与个人租客提供精装长短租公寓、物业维护、租客支持及相关增值服务，业务覆盖国内多个一二线核心城市。
马库斯-米利查普是一家美国商业地产服务企业，在美国和加拿大开展业务，核心服务涵盖商业地产经纪、抵押贷款经纪、市场研究及顾问咨询，业内首创了单经纪机构独家代理房源挂牌模式，目前在美加两国设有超过80家办事处，员工规模超1800人。
LHAI vs MMI — 直观对比
营收规模更大
MMI
是对方的48.0倍
$5.1M
净利率更高
MMI
高出5.8%
-0.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.1M | $243.9M |
| 净利润 | $-19.9K | $13.3M |
| 毛利率 | 3.8% | — |
| 营业利润率 | -1.4% | 6.3% |
| 净利率 | -0.4% | 5.5% |
| 营收同比 | — | 1.6% |
| 净利润同比 | — | 55.7% |
| 每股收益（稀释后） | — | $0.33 |
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LHAIMMI
| Q4 25 | $5.1M | $243.9M | ||
| Q3 25 | $5.4M | $193.9M | ||
| Q2 25 | $4.8M | $172.3M | ||
| Q1 25 | $5.7M | $145.0M | ||
| Q4 24 | — | $240.1M | ||
| Q3 24 | $234.9K | $168.5M | ||
| Q2 24 | — | $158.4M | ||
| Q1 24 | — | $129.1M |
净利润LHAIMMI
| Q4 25 | $-19.9K | $13.3M | ||
| Q3 25 | $-305 | $240.0K | ||
| Q2 25 | $14.4K | $-11.0M | ||
| Q1 25 | $80.6K | $-4.4M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | $284.1K | $-5.4M | ||
| Q2 24 | — | $-5.5M | ||
| Q1 24 | — | $-10.0M |
毛利率LHAIMMI
| Q4 25 | 3.8% | — | ||
| Q3 25 | 3.8% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 4.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率LHAIMMI
| Q4 25 | -1.4% | 6.3% | ||
| Q3 25 | 0.2% | -1.2% | ||
| Q2 25 | 0.3% | -5.3% | ||
| Q1 25 | 2.2% | -12.2% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | — | -6.8% | ||
| Q2 24 | — | -5.1% | ||
| Q1 24 | — | -15.6% |
净利率LHAIMMI
| Q4 25 | -0.4% | 5.5% | ||
| Q3 25 | -0.0% | 0.1% | ||
| Q2 25 | 0.3% | -6.4% | ||
| Q1 25 | 1.4% | -3.0% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | 121.0% | -3.2% | ||
| Q2 24 | — | -3.5% | ||
| Q1 24 | — | -7.7% |
每股收益（稀释后）LHAIMMI
| Q4 25 | — | $0.33 | ||
| Q3 25 | — | $0.01 | ||
| Q2 25 | — | $-0.28 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $0.22 | ||
| Q3 24 | — | $-0.14 | ||
| Q2 24 | — | $-0.14 | ||
| Q1 24 | — | $-0.26 |
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 | $7.0M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.6M | $603.1M |
| 总资产 | $10.0M | $827.2M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资LHAIMMI
| Q4 25 | $7.0M | — | ||
| Q3 25 | $3.7M | — | ||
| Q2 25 | $2.6M | — | ||
| Q1 25 | $709.1K | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $718.1K | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益LHAIMMI
| Q4 25 | $7.6M | $603.1M | ||
| Q3 25 | $7.2M | $602.2M | ||
| Q2 25 | $2.5M | $607.8M | ||
| Q1 25 | $2.5M | $617.6M | ||
| Q4 24 | — | $630.8M | ||
| Q3 24 | $2.0M | $617.7M | ||
| Q2 24 | — | $626.7M | ||
| Q1 24 | — | $625.6M |
总资产LHAIMMI
| Q4 25 | $10.0M | $827.2M | ||
| Q3 25 | $8.6M | $812.5M | ||
| Q2 25 | $3.6M | $792.2M | ||
| Q1 25 | $3.4M | $802.0M | ||
| Q4 24 | — | $869.8M | ||
| Q3 24 | $2.9M | $833.7M | ||
| Q2 24 | — | $825.4M | ||
| Q1 24 | — | $826.7M |
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 | $2.8M | $46.3M |
| 自由现金流经营现金流 - 资本支出 | — | $43.9M |
| 自由现金流率自由现金流/营收 | — | 18.0% |
| 资本支出强度资本支出/营收 | — | 1.0% |
| 现金转化率经营现金流/净利润 | — | 3.48× |
| 过去12个月自由现金流最近4个季度 | — | $58.8M |
8季度趋势，按日历期对齐
经营现金流LHAIMMI
| Q4 25 | $2.8M | $46.3M | ||
| Q3 25 | $-3.1M | $52.2M | ||
| Q2 25 | $1.7M | $21.0M | ||
| Q1 25 | $-893.8K | $-52.8M | ||
| Q4 24 | — | $56.7M | ||
| Q3 24 | — | $15.2M | ||
| Q2 24 | — | $851.0K | ||
| Q1 24 | — | $-51.0M |
自由现金流LHAIMMI
| Q4 25 | — | $43.9M | ||
| Q3 25 | — | $50.0M | ||
| Q2 25 | $-3.0M | $19.3M | ||
| Q1 25 | $-1.8M | $-54.3M | ||
| Q4 24 | — | $55.1M | ||
| Q3 24 | — | $13.2M | ||
| Q2 24 | — | $-806.0K | ||
| Q1 24 | — | $-53.7M |
自由现金流率LHAIMMI
| Q4 25 | — | 18.0% | ||
| Q3 25 | — | 25.8% | ||
| Q2 25 | -62.0% | 11.2% | ||
| Q1 25 | -31.7% | -37.5% | ||
| Q4 24 | — | 23.0% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | -0.5% | ||
| Q1 24 | — | -41.6% |
资本支出强度LHAIMMI
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | 97.5% | 1.0% | ||
| Q1 25 | 16.0% | 1.0% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 2.0% |
现金转化率LHAIMMI
| Q4 25 | — | 3.48× | ||
| Q3 25 | — | 217.54× | ||
| Q2 25 | 118.08× | — | ||
| Q1 25 | -11.09× | — | ||
| Q4 24 | — | 6.63× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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
LHAI
暂无分部数据
MMI
| Real Estate Brokerage Commissions | $205.3M | 84% |
| Financing Fees | $33.2M | 14% |
| Other Revenues | $5.4M | 2% |
