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玛斯特锁（MBC）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玛斯特锁的1.9倍（$1.2B vs $644.6M），利氏兄弟拍卖行净利率更高（9.1% vs -6.5%，领先15.6%），利氏兄弟拍卖行同比增速更快（5.4% vs -3.5%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $52.5M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% vs 0.5%）
玛斯特锁是美国知名安防产品供应商，1921年由锁匠发明家哈里·索雷夫创立，总部位于威斯康星州奥克里克，主营挂锁、密码锁、保险箱及相关安防产品，现为富俊创新集团旗下子公司，在全球安防锁具领域拥有较高的市场认可度。
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。
MBC vs RBA — 直观对比
营收规模更大
RBA
是对方的1.9倍
$644.6M
营收增速更快
RBA
高出8.9%
-3.5%
净利率更高
RBA
高出15.6%
-6.5%
自由现金流更多
RBA
多$134.0M
$52.5M
两年增速更快
RBA
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $644.6M | $1.2B |
| 净利润 | $-42.0M | $109.7M |
| 毛利率 | 26.0% | — |
| 营业利润率 | -4.2% | 14.7% |
| 净利率 | -6.5% | 9.1% |
| 营收同比 | -3.5% | 5.4% |
| 净利润同比 | -400.0% | -7.4% |
| 每股收益（稀释后） | $-0.32 | $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MBCRBA
| Q4 25 | $644.6M | $1.2B | ||
| Q3 25 | $698.9M | $1.1B | ||
| Q2 25 | $730.9M | $1.2B | ||
| Q1 25 | $660.3M | $1.1B | ||
| Q4 24 | $667.7M | $1.1B | ||
| Q3 24 | $718.1M | $981.8M | ||
| Q2 24 | $676.5M | $1.1B | ||
| Q1 24 | $638.1M | $1.1B |
净利润MBCRBA
| Q4 25 | $-42.0M | $109.7M | ||
| Q3 25 | $18.1M | $95.5M | ||
| Q2 25 | $37.3M | $109.8M | ||
| Q1 25 | $13.3M | $113.4M | ||
| Q4 24 | $14.0M | $118.5M | ||
| Q3 24 | $29.1M | $76.1M | ||
| Q2 24 | $45.3M | $111.1M | ||
| Q1 24 | $37.5M | $107.4M |
毛利率MBCRBA
| Q4 25 | 26.0% | — | ||
| Q3 25 | 31.2% | — | ||
| Q2 25 | 32.8% | — | ||
| Q1 25 | 30.6% | — | ||
| Q4 24 | 30.4% | — | ||
| Q3 24 | 33.1% | — | ||
| Q2 24 | 34.1% | — | ||
| Q1 24 | 32.1% | — |
营业利润率MBCRBA
| Q4 25 | -4.2% | 14.7% | ||
| Q3 25 | 6.0% | 14.5% | ||
| Q2 25 | 9.2% | 15.9% | ||
| Q1 25 | 5.6% | 17.1% | ||
| Q4 24 | 5.6% | 18.1% | ||
| Q3 24 | 8.0% | 15.6% | ||
| Q2 24 | 11.5% | 18.4% | ||
| Q1 24 | 9.8% | 18.7% |
净利率MBCRBA
| Q4 25 | -6.5% | 9.1% | ||
| Q3 25 | 2.6% | 8.7% | ||
| Q2 25 | 5.1% | 9.3% | ||
| Q1 25 | 2.0% | 10.2% | ||
| Q4 24 | 2.1% | 10.4% | ||
| Q3 24 | 4.1% | 7.8% | ||
| Q2 24 | 6.7% | 10.1% | ||
| Q1 24 | 5.9% | 10.1% |
每股收益（稀释后）MBCRBA
| Q4 25 | $-0.32 | $0.53 | ||
| Q3 25 | $0.14 | $0.43 | ||
| Q2 25 | $0.29 | $0.53 | ||
| Q1 25 | $0.10 | $0.55 | ||
| Q4 24 | $0.10 | $0.58 | ||
| Q3 24 | $0.22 | $0.36 | ||
| Q2 24 | $0.35 | $0.54 | ||
| Q1 24 | $0.29 | $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 | $183.3M | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $1.3B | $5.6B |
| 总资产 | $3.1B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资MBCRBA
| Q4 25 | $183.3M | $531.5M | ||
| Q3 25 | $114.8M | $674.7M | ||
| Q2 25 | $120.1M | $710.2M | ||
| Q1 25 | $113.5M | $578.1M | ||
| Q4 24 | $120.6M | $533.9M | ||
| Q3 24 | $108.4M | $650.7M | ||
| Q2 24 | $189.4M | $599.5M | ||
| Q1 24 | $153.7M | $462.8M |
总债务MBCRBA
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | $1.0B | $2.6B | ||
| Q3 24 | $1.1B | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益MBCRBA
| Q4 25 | $1.3B | $5.6B | ||
| Q3 25 | $1.4B | $5.5B | ||
| Q2 25 | $1.4B | $5.5B | ||
| Q1 25 | $1.3B | $5.3B | ||
| Q4 24 | $1.3B | $5.2B | ||
| Q3 24 | $1.3B | $5.2B | ||
| Q2 24 | $1.3B | $5.2B | ||
| Q1 24 | $1.2B | $5.1B |
总资产MBCRBA
| Q4 25 | $3.1B | $12.1B | ||
| Q3 25 | $3.0B | $12.2B | ||
| Q2 25 | $3.0B | $12.2B | ||
| Q1 25 | $3.0B | $11.9B | ||
| Q4 24 | $2.9B | $11.8B | ||
| Q3 24 | $3.0B | $11.9B | ||
| Q2 24 | $2.4B | $12.1B | ||
| Q1 24 | $2.4B | $12.0B |
负债/权益比MBCRBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | 0.79× | 0.50× | ||
| Q3 24 | 0.83× | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 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 | $86.9M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $52.5M | $186.5M |
| 自由现金流率自由现金流/营收 | 8.1% | 15.5% |
| 资本支出强度资本支出/营收 | 5.3% | 5.7% |
| 现金转化率经营现金流/净利润 | — | 2.33× |
| 过去12个月自由现金流最近4个季度 | $117.5M | $719.2M |
8季度趋势，按日历期对齐
经营现金流MBCRBA
| Q4 25 | $86.9M | $255.2M | ||
| Q3 25 | $55.4M | $239.7M | ||
| Q2 25 | $84.8M | $326.5M | ||
| Q1 25 | $-31.4M | $156.8M | ||
| Q4 24 | $115.1M | $184.5M | ||
| Q3 24 | $80.8M | $285.4M | ||
| Q2 24 | $77.4M | $337.3M | ||
| Q1 24 | $18.7M | $124.8M |
自由现金流MBCRBA
| Q4 25 | $52.5M | $186.5M | ||
| Q3 25 | $39.5M | $188.5M | ||
| Q2 25 | $66.7M | $241.7M | ||
| Q1 25 | $-41.2M | $102.5M | ||
| Q4 24 | $68.8M | $127.9M | ||
| Q3 24 | $64.5M | $248.5M | ||
| Q2 24 | $66.1M | $308.6M | ||
| Q1 24 | $11.7M | $79.6M |
自由现金流率MBCRBA
| Q4 25 | 8.1% | 15.5% | ||
| Q3 25 | 5.7% | 17.3% | ||
| Q2 25 | 9.1% | 20.4% | ||
| Q1 25 | -6.2% | 9.2% | ||
| Q4 24 | 10.3% | 11.2% | ||
| Q3 24 | 9.0% | 25.3% | ||
| Q2 24 | 9.8% | 28.2% | ||
| Q1 24 | 1.8% | 7.5% |
资本支出强度MBCRBA
| Q4 25 | 5.3% | 5.7% | ||
| Q3 25 | 2.3% | 4.7% | ||
| Q2 25 | 2.5% | 7.2% | ||
| Q1 25 | 1.5% | 4.9% | ||
| Q4 24 | 6.9% | 5.0% | ||
| Q3 24 | 2.3% | 3.8% | ||
| Q2 24 | 1.7% | 2.6% | ||
| Q1 24 | 1.1% | 4.2% |
现金转化率MBCRBA
| Q4 25 | — | 2.33× | ||
| Q3 25 | 3.06× | 2.51× | ||
| Q2 25 | 2.27× | 2.97× | ||
| Q1 25 | -2.36× | 1.38× | ||
| Q4 24 | 8.22× | 1.56× | ||
| Q3 24 | 2.78× | 3.75× | ||
| Q2 24 | 1.71× | 3.04× | ||
| Q1 24 | 0.50× | 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
MBC
| Dealers | $345.7M | 54% |
| Retail | $220.0M | 34% |
| Builders | $78.9M | 12% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
