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Life Time Group Holdings, Inc.（LTH）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是Life Time Group Holdings, Inc.的1.6倍（$1.2B vs $745.1M），Life Time Group Holdings, Inc.净利率更高（16.5% vs 9.1%，领先7.4%），Life Time Group Holdings, Inc.同比增速更快（12.3% vs 5.4%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $-64.6M），过去两年Life Time Group Holdings, Inc.的营收复合增速更高（11.7% vs 6.3%）
Life Time Group Holdings是美国高端健身康养服务运营商，在全美运营连锁高端运动场馆，提供健身器材使用、团体课程、私教指导、SPA护理、营养咨询、青少年运动项目及联合办公等服务，服务于追求健康生活方式的消费群体。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
LTH vs RBA — 直观对比
营收规模更大
RBA
是对方的1.6倍
$745.1M
营收增速更快
LTH
高出6.9%
5.4%
净利率更高
LTH
高出7.4%
9.1%
自由现金流更多
RBA
多$251.1M
$-64.6M
两年增速更快
LTH
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $745.1M | $1.2B |
| 净利润 | $123.0M | $109.7M |
| 毛利率 | 49.1% | — |
| 营业利润率 | 17.4% | 14.7% |
| 净利率 | 16.5% | 9.1% |
| 营收同比 | 12.3% | 5.4% |
| 净利润同比 | 231.0% | -7.4% |
| 每股收益（稀释后） | $0.55 | $0.53 |
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LTHRBA
| Q4 25 | $745.1M | $1.2B | ||
| Q3 25 | $782.6M | $1.1B | ||
| Q2 25 | $761.5M | $1.2B | ||
| Q1 25 | $706.0M | $1.1B | ||
| Q4 24 | $663.3M | $1.1B | ||
| Q3 24 | $693.2M | $981.8M | ||
| Q2 24 | $667.8M | $1.1B | ||
| Q1 24 | $596.7M | $1.1B |
净利润LTHRBA
| Q4 25 | $123.0M | $109.7M | ||
| Q3 25 | $102.4M | $95.5M | ||
| Q2 25 | $72.1M | $109.8M | ||
| Q1 25 | $76.1M | $113.4M | ||
| Q4 24 | $37.2M | $118.5M | ||
| Q3 24 | $41.4M | $76.1M | ||
| Q2 24 | $52.8M | $111.1M | ||
| Q1 24 | $24.9M | $107.4M |
毛利率LTHRBA
| Q4 25 | 49.1% | — | ||
| Q3 25 | 47.1% | — | ||
| Q2 25 | 47.0% | — | ||
| Q1 25 | 47.5% | — | ||
| Q4 24 | 48.2% | — | ||
| Q3 24 | 46.5% | — | ||
| Q2 24 | 46.8% | — | ||
| Q1 24 | 46.1% | — |
营业利润率LTHRBA
| Q4 25 | 17.4% | 14.7% | ||
| Q3 25 | 17.3% | 14.5% | ||
| Q2 25 | 14.2% | 15.9% | ||
| Q1 25 | 15.2% | 17.1% | ||
| Q4 24 | 13.1% | 18.1% | ||
| Q3 24 | 13.5% | 15.6% | ||
| Q2 24 | 15.7% | 18.4% | ||
| Q1 24 | 12.1% | 18.7% |
净利率LTHRBA
| Q4 25 | 16.5% | 9.1% | ||
| Q3 25 | 13.1% | 8.7% | ||
| Q2 25 | 9.5% | 9.3% | ||
| Q1 25 | 10.8% | 10.2% | ||
| Q4 24 | 5.6% | 10.4% | ||
| Q3 24 | 6.0% | 7.8% | ||
| Q2 24 | 7.9% | 10.1% | ||
| Q1 24 | 4.2% | 10.1% |
每股收益（稀释后）LTHRBA
| Q4 25 | $0.55 | $0.53 | ||
| Q3 25 | $0.45 | $0.43 | ||
| Q2 25 | $0.32 | $0.53 | ||
| Q1 25 | $0.34 | $0.55 | ||
| Q4 24 | $0.17 | $0.58 | ||
| Q3 24 | $0.19 | $0.36 | ||
| Q2 24 | $0.26 | $0.54 | ||
| Q1 24 | $0.12 | $0.53 |
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 | $204.8M | $531.5M |
| 总债务越低越好 | $1.5B | $2.3B |
| 股东权益账面价值 | $3.1B | $5.6B |
| 总资产 | $8.0B | $12.1B |
| 负债/权益比越低杠杆越低 | 0.48× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资LTHRBA
| Q4 25 | $204.8M | $531.5M | ||
| Q3 25 | $218.9M | $674.7M | ||
| Q2 25 | $175.5M | $710.2M | ||
| Q1 25 | $59.0M | $578.1M | ||
| Q4 24 | $10.9M | $533.9M | ||
| Q3 24 | $120.9M | $650.7M | ||
| Q2 24 | $34.5M | $599.5M | ||
| Q1 24 | $18.6M | $462.8M |
总债务LTHRBA
| Q4 25 | $1.5B | $2.3B | ||
| Q3 25 | $1.5B | $2.6B | ||
| Q2 25 | $1.5B | $2.6B | ||
| Q1 25 | $1.5B | $2.6B | ||
| Q4 24 | $1.5B | $2.6B | ||
| Q3 24 | $1.7B | $2.7B | ||
| Q2 24 | $1.8B | $2.8B | ||
| Q1 24 | $2.0B | $2.9B |
股东权益LTHRBA
| Q4 25 | $3.1B | $5.6B | ||
| Q3 25 | $3.0B | $5.5B | ||
| Q2 25 | $2.9B | $5.5B | ||
| Q1 25 | $2.7B | $5.3B | ||
| Q4 24 | $2.6B | $5.2B | ||
| Q3 24 | $2.6B | $5.2B | ||
| Q2 24 | $2.4B | $5.2B | ||
| Q1 24 | $2.3B | $5.1B |
总资产LTHRBA
| Q4 25 | $8.0B | $12.1B | ||
| Q3 25 | $7.8B | $12.2B | ||
| Q2 25 | $7.6B | $12.2B | ||
| Q1 25 | $7.3B | $11.9B | ||
| Q4 24 | $7.2B | $11.8B | ||
| Q3 24 | $7.2B | $11.9B | ||
| Q2 24 | $7.1B | $12.1B | ||
| Q1 24 | $7.1B | $12.0B |
负债/权益比LTHRBA
| Q4 25 | 0.48× | 0.42× | ||
| Q3 25 | 0.51× | 0.47× | ||
| Q2 25 | 0.53× | 0.47× | ||
| Q1 25 | 0.56× | 0.50× | ||
| Q4 24 | 0.59× | 0.50× | ||
| Q3 24 | 0.64× | 0.52× | ||
| Q2 24 | 0.78× | 0.55× | ||
| Q1 24 | 0.87× | 0.58× |
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 | $239.9M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $-64.6M | $186.5M |
| 自由现金流率自由现金流/营收 | -8.7% | 15.5% |
| 资本支出强度资本支出/营收 | 40.9% | 5.7% |
| 现金转化率经营现金流/净利润 | 1.95× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $-21.0M | $719.2M |
8季度趋势，按日历期对齐
经营现金流LTHRBA
| Q4 25 | $239.9M | $255.2M | ||
| Q3 25 | $251.1M | $239.7M | ||
| Q2 25 | $195.7M | $326.5M | ||
| Q1 25 | $183.9M | $156.8M | ||
| Q4 24 | $163.1M | $184.5M | ||
| Q3 24 | $151.1M | $285.4M | ||
| Q2 24 | $170.4M | $337.3M | ||
| Q1 24 | $90.4M | $124.8M |
自由现金流LTHRBA
| Q4 25 | $-64.6M | $186.5M | ||
| Q3 25 | $28.6M | $188.5M | ||
| Q2 25 | $-26.3M | $241.7M | ||
| Q1 25 | $41.4M | $102.5M | ||
| Q4 24 | $26.8M | $127.9M | ||
| Q3 24 | $64.0M | $248.5M | ||
| Q2 24 | $26.1M | $308.6M | ||
| Q1 24 | $-66.4M | $79.6M |
自由现金流率LTHRBA
| Q4 25 | -8.7% | 15.5% | ||
| Q3 25 | 3.7% | 17.3% | ||
| Q2 25 | -3.5% | 20.4% | ||
| Q1 25 | 5.9% | 9.2% | ||
| Q4 24 | 4.0% | 11.2% | ||
| Q3 24 | 9.2% | 25.3% | ||
| Q2 24 | 3.9% | 28.2% | ||
| Q1 24 | -11.1% | 7.5% |
资本支出强度LTHRBA
| Q4 25 | 40.9% | 5.7% | ||
| Q3 25 | 28.4% | 4.7% | ||
| Q2 25 | 29.2% | 7.2% | ||
| Q1 25 | 20.2% | 4.9% | ||
| Q4 24 | 20.6% | 5.0% | ||
| Q3 24 | 12.6% | 3.8% | ||
| Q2 24 | 21.6% | 2.6% | ||
| Q1 24 | 26.3% | 4.2% |
现金转化率LTHRBA
| Q4 25 | 1.95× | 2.33× | ||
| Q3 25 | 2.45× | 2.51× | ||
| Q2 25 | 2.71× | 2.97× | ||
| Q1 25 | 2.41× | 1.38× | ||
| Q4 24 | 4.39× | 1.56× | ||
| Q3 24 | 3.65× | 3.75× | ||
| Q2 24 | 3.23× | 3.04× | ||
| Q1 24 | 3.63× | 1.16× |
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
LTH
| Membership | $535.1M | 72% |
| In Center | $191.2M | 26% |
| Other | $18.8M | 3% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
