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LTC PROPERTIES INC（LTC）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
LTC PROPERTIES INC的季度营收约是RE/MAX Holdings, Inc.的1.2倍（$84.3M vs $71.1M），LTC PROPERTIES INC净利率更高（123.0% vs 2.0%，领先120.9%），LTC PROPERTIES INC同比增速更快（60.3% vs -1.8%），LTC PROPERTIES INC自由现金流更多（$128.7M vs $33.5M），过去两年LTC PROPERTIES INC的营收复合增速更高（28.1% vs -4.7%）
LTC Properties Inc是一家总部位于美国的房地产投资信托企业，核心业务为持有、融资及运营老年住宅与医疗相关不动产，投资组合涵盖辅助生活设施、专业护理物业、记忆照护中心及独立生活社区，服务美国养老与医疗领域运营方。
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。
LTC vs RMAX — 直观对比
营收规模更大
LTC
是对方的1.2倍
$71.1M
营收增速更快
LTC
高出62.1%
-1.8%
净利率更高
LTC
高出120.9%
2.0%
自由现金流更多
LTC
多$95.2M
$33.5M
两年增速更快
LTC
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $84.3M | $71.1M |
| 净利润 | $103.7M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | — | 13.1% |
| 净利率 | 123.0% | 2.0% |
| 营收同比 | 60.3% | -1.8% |
| 净利润同比 | 429.1% | -75.2% |
| 每股收益（稀释后） | $2.19 | — |
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LTCRMAX
| Q4 25 | $84.3M | $71.1M | ||
| Q3 25 | $69.3M | $73.2M | ||
| Q2 25 | $60.2M | $72.8M | ||
| Q1 25 | $49.0M | $74.5M | ||
| Q4 24 | $52.6M | $72.5M | ||
| Q3 24 | $55.8M | $78.5M | ||
| Q2 24 | $50.1M | $78.5M | ||
| Q1 24 | $51.4M | $78.3M |
净利润LTCRMAX
| Q4 25 | $103.7M | $1.4M | ||
| Q3 25 | $-20.0M | $4.0M | ||
| Q2 25 | $15.1M | $4.7M | ||
| Q1 25 | $20.7M | $-2.0M | ||
| Q4 24 | $19.6M | $5.8M | ||
| Q3 24 | $29.4M | $966.0K | ||
| Q2 24 | $19.4M | $3.7M | ||
| Q1 24 | $24.2M | $-3.4M |
营业利润率LTCRMAX
| Q4 25 | — | 13.1% | ||
| Q3 25 | 71.9% | 25.0% | ||
| Q2 25 | 80.5% | 19.3% | ||
| Q1 25 | 37.8% | 7.2% | ||
| Q4 24 | — | 5.9% | ||
| Q3 24 | 95.5% | 19.4% | ||
| Q2 24 | 38.0% | 20.6% | ||
| Q1 24 | 47.3% | 5.8% |
净利率LTCRMAX
| Q4 25 | 123.0% | 2.0% | ||
| Q3 25 | -28.9% | 5.4% | ||
| Q2 25 | 25.1% | 6.4% | ||
| Q1 25 | 42.2% | -2.6% | ||
| Q4 24 | 37.3% | 8.0% | ||
| Q3 24 | 52.6% | 1.2% | ||
| Q2 24 | 38.6% | 4.7% | ||
| Q1 24 | 47.2% | -4.3% |
每股收益（稀释后）LTCRMAX
| Q4 25 | $2.19 | — | ||
| Q3 25 | $-0.44 | — | ||
| Q2 25 | $0.32 | — | ||
| Q1 25 | $0.45 | — | ||
| Q4 24 | $0.38 | — | ||
| Q3 24 | $0.66 | — | ||
| Q2 24 | $0.44 | — | ||
| Q1 24 | $0.56 | — |
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 | $14.4M | $118.7M |
| 总债务越低越好 | $842.2M | $432.2M |
| 股东权益账面价值 | $1.1B | $452.4M |
| 总资产 | $2.1B | $582.5M |
| 负债/权益比越低杠杆越低 | 0.78× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资LTCRMAX
| Q4 25 | $14.4M | $118.7M | ||
| Q3 25 | $17.9M | $107.5M | ||
| Q2 25 | $7.6M | $94.3M | ||
| Q1 25 | $23.3M | $89.1M | ||
| Q4 24 | $9.4M | $96.6M | ||
| Q3 24 | $35.0M | $83.8M | ||
| Q2 24 | $6.2M | $66.1M | ||
| Q1 24 | $9.0M | $82.1M |
总债务LTCRMAX
| Q4 25 | $842.2M | $432.2M | ||
| Q3 25 | $944.5M | $433.3M | ||
| Q2 25 | $696.5M | $434.4M | ||
| Q1 25 | $682.2M | $435.3M | ||
| Q4 24 | $684.6M | $436.2M | ||
| Q3 24 | $785.3M | $437.2M | ||
| Q2 24 | $861.0M | $438.1M | ||
| Q1 24 | $860.2M | $439.0M |
股东权益LTCRMAX
| Q4 25 | $1.1B | $452.4M | ||
| Q3 25 | $957.9M | $448.1M | ||
| Q2 25 | $957.5M | $442.4M | ||
| Q1 25 | $961.9M | $433.5M | ||
| Q4 24 | $960.6M | $429.5M | ||
| Q3 24 | $947.8M | $423.1M | ||
| Q2 24 | $889.1M | $418.4M | ||
| Q1 24 | $886.2M | $412.0M |
总资产LTCRMAX
| Q4 25 | $2.1B | $582.5M | ||
| Q3 25 | $2.0B | $582.2M | ||
| Q2 25 | $1.8B | $574.8M | ||
| Q1 25 | $1.8B | $571.4M | ||
| Q4 24 | $1.8B | $581.6M | ||
| Q3 24 | $1.9B | $578.6M | ||
| Q2 24 | $1.9B | $571.4M | ||
| Q1 24 | $1.8B | $566.7M |
负债/权益比LTCRMAX
| Q4 25 | 0.78× | 0.96× | ||
| Q3 25 | 0.99× | 0.97× | ||
| Q2 25 | 0.73× | 0.98× | ||
| Q1 25 | 0.71× | 1.00× | ||
| Q4 24 | 0.71× | 1.02× | ||
| Q3 24 | 0.83× | 1.03× | ||
| Q2 24 | 0.97× | 1.05× | ||
| Q1 24 | 0.97× | 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 | $136.0M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $128.7M | $33.5M |
| 自由现金流率自由现金流/营收 | 152.7% | 47.1% |
| 资本支出强度资本支出/营收 | 8.6% | 10.4% |
| 现金转化率经营现金流/净利润 | 1.31× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $220.1M | $56.8M |
8季度趋势，按日历期对齐
经营现金流LTCRMAX
| Q4 25 | $136.0M | $40.9M | ||
| Q3 25 | $38.4M | $17.7M | ||
| Q2 25 | $30.0M | $4.6M | ||
| Q1 25 | $29.6M | $5.7M | ||
| Q4 24 | $125.9M | $59.7M | ||
| Q3 24 | $34.0M | $17.6M | ||
| Q2 24 | $37.0M | $15.9M | ||
| Q1 24 | $21.1M | $9.4M |
自由现金流LTCRMAX
| Q4 25 | $128.7M | $33.5M | ||
| Q3 25 | $34.3M | $16.4M | ||
| Q2 25 | $28.9M | $2.9M | ||
| Q1 25 | $28.2M | $4.0M | ||
| Q4 24 | $112.2M | $53.0M | ||
| Q3 24 | $27.7M | $16.3M | ||
| Q2 24 | $34.7M | $14.0M | ||
| Q1 24 | $19.7M | $6.8M |
自由现金流率LTCRMAX
| Q4 25 | 152.7% | 47.1% | ||
| Q3 25 | 49.4% | 22.4% | ||
| Q2 25 | 47.9% | 4.0% | ||
| Q1 25 | 57.6% | 5.3% | ||
| Q4 24 | 213.4% | 73.2% | ||
| Q3 24 | 49.7% | 20.8% | ||
| Q2 24 | 69.1% | 17.8% | ||
| Q1 24 | 38.4% | 8.6% |
资本支出强度LTCRMAX
| Q4 25 | 8.6% | 10.4% | ||
| Q3 25 | 6.0% | 1.8% | ||
| Q2 25 | 1.9% | 2.2% | ||
| Q1 25 | 2.7% | 2.3% | ||
| Q4 24 | 26.0% | 9.1% | ||
| Q3 24 | 11.2% | 1.7% | ||
| Q2 24 | 4.6% | 2.4% | ||
| Q1 24 | 2.6% | 3.3% |
现金转化率LTCRMAX
| Q4 25 | 1.31× | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | 1.99× | 0.97× | ||
| Q1 25 | 1.43× | — | ||
| Q4 24 | 6.43× | 10.28× | ||
| Q3 24 | 1.16× | 18.22× | ||
| Q2 24 | 1.91× | 4.29× | ||
| Q1 24 | 0.87× | — |
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
LTC
| Seniors Housing Operating Portfolio Segment | $72.1M | 86% |
| Other | $12.2M | 14% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
