vs
Mastech Digital, Inc.（MHH）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
RE/MAX Holdings, Inc.的季度营收约是Mastech Digital, Inc.的1.6倍（$71.1M vs $45.5M），Mastech Digital, Inc.净利率更高（2.1% vs 2.0%，领先0.1%），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -10.4%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $4.3M），过去两年Mastech Digital, Inc.的营收复合增速更高（-1.5% vs -4.7%）
Mastech Digital, Inc.是一家专注数字化转型与信息技术服务的企业，总部位于美国宾夕法尼亚州匹兹堡，业务覆盖北美、中东、亚洲及日本地区，为各行业企业提供专业IT相关解决方案与服务。
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。
MHH vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.6倍
$45.5M
营收增速更快
RMAX
高出8.6%
-10.4%
净利率更高
MHH
高出0.1%
2.0%
自由现金流更多
RMAX
多$29.2M
$4.3M
两年增速更快
MHH
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $45.5M | $71.1M |
| 净利润 | $972.0K | $1.4M |
| 毛利率 | 28.3% | — |
| 营业利润率 | 2.2% | 13.1% |
| 净利率 | 2.1% | 2.0% |
| 营收同比 | -10.4% | -1.8% |
| 净利润同比 | 227.3% | -75.2% |
| 每股收益（稀释后） | $0.08 | — |
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MHHRMAX
| Q4 25 | $45.5M | $71.1M | ||
| Q3 25 | $48.5M | $73.2M | ||
| Q2 25 | $49.1M | $72.8M | ||
| Q1 25 | $48.3M | $74.5M | ||
| Q4 24 | $50.7M | $72.5M | ||
| Q3 24 | $51.8M | $78.5M | ||
| Q2 24 | $49.5M | $78.5M | ||
| Q1 24 | $46.8M | $78.3M |
净利润MHHRMAX
| Q4 25 | $972.0K | $1.4M | ||
| Q3 25 | $941.0K | $4.0M | ||
| Q2 25 | $135.0K | $4.7M | ||
| Q1 25 | $-1.4M | $-2.0M | ||
| Q4 24 | $297.0K | $5.8M | ||
| Q3 24 | $1.9M | $966.0K | ||
| Q2 24 | $1.4M | $3.7M | ||
| Q1 24 | $-161.0K | $-3.4M |
毛利率MHHRMAX
| Q4 25 | 28.3% | — | ||
| Q3 25 | 27.8% | — | ||
| Q2 25 | 28.1% | — | ||
| Q1 25 | 26.7% | — | ||
| Q4 24 | 29.0% | — | ||
| Q3 24 | 28.5% | — | ||
| Q2 24 | 28.2% | — | ||
| Q1 24 | 25.9% | — |
营业利润率MHHRMAX
| Q4 25 | 2.2% | 13.1% | ||
| Q3 25 | 1.7% | 25.0% | ||
| Q2 25 | 0.1% | 19.3% | ||
| Q1 25 | -3.8% | 7.2% | ||
| Q4 24 | 0.1% | 5.9% | ||
| Q3 24 | 4.7% | 19.4% | ||
| Q2 24 | 3.4% | 20.6% | ||
| Q1 24 | -0.9% | 5.8% |
净利率MHHRMAX
| Q4 25 | 2.1% | 2.0% | ||
| Q3 25 | 1.9% | 5.4% | ||
| Q2 25 | 0.3% | 6.4% | ||
| Q1 25 | -3.0% | -2.6% | ||
| Q4 24 | 0.6% | 8.0% | ||
| Q3 24 | 3.6% | 1.2% | ||
| Q2 24 | 2.8% | 4.7% | ||
| Q1 24 | -0.3% | -4.3% |
每股收益（稀释后）MHHRMAX
| Q4 25 | $0.08 | — | ||
| Q3 25 | $0.08 | — | ||
| Q2 25 | $0.01 | — | ||
| Q1 25 | $-0.12 | — | ||
| Q4 24 | $0.01 | — | ||
| Q3 24 | $0.16 | — | ||
| Q2 24 | $0.12 | — | ||
| Q1 24 | $-0.01 | — |
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 | $36.5M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $89.3M | $452.4M |
| 总资产 | $111.8M | $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MHHRMAX
| Q4 25 | $36.5M | $118.7M | ||
| Q3 25 | $32.7M | $107.5M | ||
| Q2 25 | $27.9M | $94.3M | ||
| Q1 25 | $24.7M | $89.1M | ||
| Q4 24 | $27.7M | $96.6M | ||
| Q3 24 | $23.9M | $83.8M | ||
| Q2 24 | $20.6M | $66.1M | ||
| Q1 24 | $19.4M | $82.1M |
总债务MHHRMAX
| 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MHHRMAX
| Q4 25 | $89.3M | $452.4M | ||
| Q3 25 | $88.0M | $448.1M | ||
| Q2 25 | $87.8M | $442.4M | ||
| Q1 25 | $86.9M | $433.5M | ||
| Q4 24 | $87.4M | $429.5M | ||
| Q3 24 | $86.5M | $423.1M | ||
| Q2 24 | $84.0M | $418.4M | ||
| Q1 24 | $81.7M | $412.0M |
总资产MHHRMAX
| Q4 25 | $111.8M | $582.5M | ||
| Q3 25 | $112.6M | $582.2M | ||
| Q2 25 | $110.4M | $574.8M | ||
| Q1 25 | $110.1M | $571.4M | ||
| Q4 24 | $111.5M | $581.6M | ||
| Q3 24 | $111.5M | $578.6M | ||
| Q2 24 | $107.5M | $571.4M | ||
| Q1 24 | $106.1M | $566.7M |
负债/权益比MHHRMAX
| 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 | $4.4M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $4.3M | $33.5M |
| 自由现金流率自由现金流/营收 | 9.5% | 47.1% |
| 资本支出强度资本支出/营收 | 0.1% | 10.4% |
| 现金转化率经营现金流/净利润 | 4.48× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $10.8M | $56.8M |
8季度趋势，按日历期对齐
经营现金流MHHRMAX
| Q4 25 | $4.4M | $40.9M | ||
| Q3 25 | $6.5M | $17.7M | ||
| Q2 25 | $3.3M | $4.6M | ||
| Q1 25 | $-3.0M | $5.7M | ||
| Q4 24 | $4.0M | $59.7M | ||
| Q3 24 | $3.3M | $17.6M | ||
| Q2 24 | $1.2M | $15.9M | ||
| Q1 24 | $-1.3M | $9.4M |
自由现金流MHHRMAX
| Q4 25 | $4.3M | $33.5M | ||
| Q3 25 | $6.3M | $16.4M | ||
| Q2 25 | $3.2M | $2.9M | ||
| Q1 25 | $-3.1M | $4.0M | ||
| Q4 24 | $3.9M | $53.0M | ||
| Q3 24 | $3.2M | $16.3M | ||
| Q2 24 | $707.0K | $14.0M | ||
| Q1 24 | $-1.6M | $6.8M |
自由现金流率MHHRMAX
| Q4 25 | 9.5% | 47.1% | ||
| Q3 25 | 13.0% | 22.4% | ||
| Q2 25 | 6.6% | 4.0% | ||
| Q1 25 | -6.4% | 5.3% | ||
| Q4 24 | 7.7% | 73.2% | ||
| Q3 24 | 6.2% | 20.8% | ||
| Q2 24 | 1.4% | 17.8% | ||
| Q1 24 | -3.4% | 8.6% |
资本支出强度MHHRMAX
| Q4 25 | 0.1% | 10.4% | ||
| Q3 25 | 0.4% | 1.8% | ||
| Q2 25 | 0.1% | 2.2% | ||
| Q1 25 | 0.2% | 2.3% | ||
| Q4 24 | 0.2% | 9.1% | ||
| Q3 24 | 0.1% | 1.7% | ||
| Q2 24 | 1.0% | 2.4% | ||
| Q1 24 | 0.6% | 3.3% |
现金转化率MHHRMAX
| Q4 25 | 4.48× | 28.39× | ||
| Q3 25 | 6.88× | 4.45× | ||
| Q2 25 | 24.41× | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | 13.60× | 10.28× | ||
| Q3 24 | 1.76× | 18.22× | ||
| Q2 24 | 0.85× | 4.29× | ||
| 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
MHH
| IT Staffing Services | $37.6M | 83% |
| Data And Analytics Services | $7.8M | 17% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
