vs
Mayville Engineering Company, Inc.（MEC）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
Mayville Engineering Company, Inc.的季度营收约是RE/MAX Holdings, Inc.的1.9倍（$134.3M vs $71.1M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -3.2%，领先5.3%），Mayville Engineering Company, Inc.同比增速更快（10.7% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $10.2M），过去两年RE/MAX Holdings, Inc.的营收复合增速更高（-4.7% vs -8.8%）
Mayville Engineering Company（MEC）是总部位于美国的领先金属零部件、装配组件及定制工程解决方案供应商，主要服务农业、建筑、商用运输、国防、动力运动等领域的原始设备制造商客户，提供从原型开发到大规模量产的全流程服务。
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。
MEC vs RMAX — 直观对比
营收规模更大
MEC
是对方的1.9倍
$71.1M
营收增速更快
MEC
高出12.5%
-1.8%
净利率更高
RMAX
高出5.3%
-3.2%
自由现金流更多
RMAX
多$23.3M
$10.2M
两年增速更快
RMAX
近两年复合增速
-8.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $134.3M | $71.1M |
| 净利润 | $-4.4M | $1.4M |
| 毛利率 | 6.8% | — |
| 营业利润率 | -4.1% | 13.1% |
| 净利率 | -3.2% | 2.0% |
| 营收同比 | 10.7% | -1.8% |
| 净利润同比 | -127.3% | -75.2% |
| 每股收益（稀释后） | $-0.22 | — |
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MECRMAX
| Q4 25 | $134.3M | $71.1M | ||
| Q3 25 | $144.3M | $73.2M | ||
| Q2 25 | $132.3M | $72.8M | ||
| Q1 25 | $135.6M | $74.5M | ||
| Q4 24 | $121.3M | $72.5M | ||
| Q3 24 | $135.4M | $78.5M | ||
| Q2 24 | $163.6M | $78.5M | ||
| Q1 24 | $161.3M | $78.3M |
净利润MECRMAX
| Q4 25 | $-4.4M | $1.4M | ||
| Q3 25 | $-2.7M | $4.0M | ||
| Q2 25 | $-1.1M | $4.7M | ||
| Q1 25 | $20.0K | $-2.0M | ||
| Q4 24 | $16.0M | $5.8M | ||
| Q3 24 | $3.0M | $966.0K | ||
| Q2 24 | $3.8M | $3.7M | ||
| Q1 24 | $3.2M | $-3.4M |
毛利率MECRMAX
| Q4 25 | 6.8% | — | ||
| Q3 25 | 11.0% | — | ||
| Q2 25 | 10.3% | — | ||
| Q1 25 | 11.3% | — | ||
| Q4 24 | 8.9% | — | ||
| Q3 24 | 12.6% | — | ||
| Q2 24 | 13.6% | — | ||
| Q1 24 | 13.0% | — |
营业利润率MECRMAX
| Q4 25 | -4.1% | 13.1% | ||
| Q3 25 | 0.0% | 25.0% | ||
| Q2 25 | 0.1% | 19.3% | ||
| Q1 25 | 1.2% | 7.2% | ||
| Q4 24 | 19.0% | 5.9% | ||
| Q3 24 | 4.2% | 19.4% | ||
| Q2 24 | 5.0% | 20.6% | ||
| Q1 24 | 4.7% | 5.8% |
净利率MECRMAX
| Q4 25 | -3.2% | 2.0% | ||
| Q3 25 | -1.9% | 5.4% | ||
| Q2 25 | -0.8% | 6.4% | ||
| Q1 25 | 0.0% | -2.6% | ||
| Q4 24 | 13.2% | 8.0% | ||
| Q3 24 | 2.2% | 1.2% | ||
| Q2 24 | 2.3% | 4.7% | ||
| Q1 24 | 2.0% | -4.3% |
每股收益（稀释后）MECRMAX
| Q4 25 | $-0.22 | — | ||
| Q3 25 | $-0.13 | — | ||
| Q2 25 | $-0.05 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $0.76 | — | ||
| Q3 24 | $0.14 | — | ||
| Q2 24 | $0.18 | — | ||
| Q1 24 | $0.16 | — |
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 | $1.5M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $240.7M | $452.4M |
| 总资产 | $563.6M | $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MECRMAX
| Q4 25 | $1.5M | $118.7M | ||
| Q3 25 | $1.2M | $107.5M | ||
| Q2 25 | $206.0K | $94.3M | ||
| Q1 25 | $183.0K | $89.1M | ||
| Q4 24 | $206.0K | $96.6M | ||
| Q3 24 | $178.0K | $83.8M | ||
| Q2 24 | $314.0K | $66.1M | ||
| Q1 24 | $314.0K | $82.1M |
总债务MECRMAX
| 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MECRMAX
| Q4 25 | $240.7M | $452.4M | ||
| Q3 25 | $244.8M | $448.1M | ||
| Q2 25 | $246.8M | $442.4M | ||
| Q1 25 | $250.0M | $433.5M | ||
| Q4 24 | $251.8M | $429.5M | ||
| Q3 24 | $238.4M | $423.1M | ||
| Q2 24 | $238.1M | $418.4M | ||
| Q1 24 | $234.0M | $412.0M |
总资产MECRMAX
| Q4 25 | $563.6M | $582.5M | ||
| Q3 25 | $585.6M | $582.2M | ||
| Q2 25 | $433.7M | $574.8M | ||
| Q1 25 | $447.7M | $571.4M | ||
| Q4 24 | $445.6M | $581.6M | ||
| Q3 24 | $466.0M | $578.6M | ||
| Q2 24 | $488.2M | $571.4M | ||
| Q1 24 | $499.9M | $566.7M |
负债/权益比MECRMAX
| 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 | $13.4M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $10.2M | $33.5M |
| 自由现金流率自由现金流/营收 | 7.6% | 47.1% |
| 资本支出强度资本支出/营收 | 2.4% | 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 | $26.9M | $56.8M |
8季度趋势，按日历期对齐
经营现金流MECRMAX
| Q4 25 | $13.4M | $40.9M | ||
| Q3 25 | $1.9M | $17.7M | ||
| Q2 25 | $15.0M | $4.6M | ||
| Q1 25 | $8.3M | $5.7M | ||
| Q4 24 | $38.0M | $59.7M | ||
| Q3 24 | $17.9M | $17.6M | ||
| Q2 24 | $23.3M | $15.9M | ||
| Q1 24 | $10.6M | $9.4M |
自由现金流MECRMAX
| Q4 25 | $10.2M | $33.5M | ||
| Q3 25 | $-1.1M | $16.4M | ||
| Q2 25 | $12.5M | $2.9M | ||
| Q1 25 | $5.4M | $4.0M | ||
| Q4 24 | $35.6M | $53.0M | ||
| Q3 24 | $15.1M | $16.3M | ||
| Q2 24 | $19.2M | $14.0M | ||
| Q1 24 | $7.8M | $6.8M |
自由现金流率MECRMAX
| Q4 25 | 7.6% | 47.1% | ||
| Q3 25 | -0.8% | 22.4% | ||
| Q2 25 | 9.5% | 4.0% | ||
| Q1 25 | 4.0% | 5.3% | ||
| Q4 24 | 29.4% | 73.2% | ||
| Q3 24 | 11.1% | 20.8% | ||
| Q2 24 | 11.7% | 17.8% | ||
| Q1 24 | 4.9% | 8.6% |
资本支出强度MECRMAX
| Q4 25 | 2.4% | 10.4% | ||
| Q3 25 | 2.1% | 1.8% | ||
| Q2 25 | 1.8% | 2.2% | ||
| Q1 25 | 2.2% | 2.3% | ||
| Q4 24 | 1.9% | 9.1% | ||
| Q3 24 | 2.1% | 1.7% | ||
| Q2 24 | 2.5% | 2.4% | ||
| Q1 24 | 1.7% | 3.3% |
现金转化率MECRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | 416.65× | — | ||
| Q4 24 | 2.38× | 10.28× | ||
| Q3 24 | 6.03× | 18.22× | ||
| Q2 24 | 6.15× | 4.29× | ||
| Q1 24 | 3.28× | — |
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
MEC
| Fabrication | $72.2M | 54% |
| Construction And Access | $19.2M | 14% |
| Tubes | $16.2M | 12% |
| Other Market | $11.9M | 9% |
| Agriculture | $7.7M | 6% |
| Military | $6.7M | 5% |
| Outdoor Sports | $1.7M | 1% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
