vs
MIAMI INTERNATIONAL HOLDINGS, INC.（MIAX）与OPPENHEIMER HOLDINGS INC（OPY）财务数据对比。点击上方公司名可切换其他公司
OPPENHEIMER HOLDINGS INC的季度营收约是MIAMI INTERNATIONAL HOLDINGS, INC.的1.4倍（$472.6M vs $339.8M），OPPENHEIMER HOLDINGS INC净利率更高（15.7% vs -30.0%，领先45.8%），OPPENHEIMER HOLDINGS INC同比增速更快（25.9% vs 22.8%），OPPENHEIMER HOLDINGS INC自由现金流更多（$183.6M vs $102.2M）
迈阿密国际控股旗下的迈阿密航空是美国佛罗里达州迈阿密戴德郡的包机航空公司，以迈阿密国际机场为运营基地，面向全球提供客运包机服务，客户涵盖邮轮公司、职业体育队、美国军方、世界500强企业、演艺人士、政界候选人等多元群体。
奥本海默控股是一家美国跨国独立投资银行与金融服务企业，面向全球客户提供投资银行、财务咨询、资本市场、资产管理及财富管理等相关产品与服务，目前总部设于纽约市宽街85号。
MIAX vs OPY — 直观对比
营收规模更大
OPY
是对方的1.4倍
$339.8M
营收增速更快
OPY
高出3.1%
22.8%
净利率更高
OPY
高出45.8%
-30.0%
自由现金流更多
OPY
多$81.4M
$102.2M
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $339.8M | $472.6M |
| 净利润 | $-102.1M | $74.4M |
| 毛利率 | 32.2% | — |
| 营业利润率 | -0.1% | 22.4% |
| 净利率 | -30.0% | 15.7% |
| 营收同比 | 22.8% | 25.9% |
| 净利润同比 | -3086.0% | 593.1% |
| 每股收益（稀释后） | $-1.46 | $6.51 |
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MIAXOPY
| Q4 25 | — | $472.6M | ||
| Q3 25 | $339.8M | $424.4M | ||
| Q2 25 | — | $373.2M | ||
| Q1 25 | — | $367.8M | ||
| Q4 24 | — | $375.4M | ||
| Q3 24 | $276.7M | $373.4M | ||
| Q2 24 | — | $330.6M | ||
| Q1 24 | — | $353.1M |
净利润MIAXOPY
| Q4 25 | — | $74.4M | ||
| Q3 25 | $-102.1M | $21.7M | ||
| Q2 25 | — | $21.7M | ||
| Q1 25 | — | $30.7M | ||
| Q4 24 | — | $10.7M | ||
| Q3 24 | $-3.2M | $24.5M | ||
| Q2 24 | — | $10.3M | ||
| Q1 24 | — | $26.1M |
毛利率MIAXOPY
| Q4 25 | — | — | ||
| Q3 25 | 32.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 25.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率MIAXOPY
| Q4 25 | — | 22.4% | ||
| Q3 25 | -0.1% | 7.5% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | 11.2% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | -0.4% | 9.5% | ||
| Q2 24 | — | 4.8% | ||
| Q1 24 | — | 10.6% |
净利率MIAXOPY
| Q4 25 | — | 15.7% | ||
| Q3 25 | -30.0% | 5.1% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | — | 8.3% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | -1.2% | 6.6% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 7.4% |
每股收益（稀释后）MIAXOPY
| Q4 25 | — | $6.51 | ||
| Q3 25 | $-1.46 | $1.90 | ||
| Q2 25 | — | $1.91 | ||
| Q1 25 | — | $2.72 | ||
| Q4 24 | — | $0.92 | ||
| Q3 24 | $-0.05 | $2.16 | ||
| Q2 24 | — | $0.92 | ||
| Q1 24 | — | $2.37 |
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 | $401.5M | $38.4M |
| 总债务越低越好 | $6.5M | — |
| 股东权益账面价值 | $831.9M | $983.8M |
| 总资产 | $1.2B | $3.7B |
| 负债/权益比越低杠杆越低 | 0.01× | — |
8季度趋势，按日历期对齐
现金及短期投资MIAXOPY
| Q4 25 | — | $38.4M | ||
| Q3 25 | $401.5M | $38.3M | ||
| Q2 25 | — | $37.6M | ||
| Q1 25 | — | $36.7M | ||
| Q4 24 | — | $33.1M | ||
| Q3 24 | $125.1M | $32.2M | ||
| Q2 24 | — | $33.2M | ||
| Q1 24 | — | $27.7M |
总债务MIAXOPY
| Q4 25 | — | — | ||
| Q3 25 | $6.5M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $112.8M | ||
| Q2 24 | — | $112.8M | ||
| Q1 24 | — | $112.7M |
股东权益MIAXOPY
| Q4 25 | — | $983.8M | ||
| Q3 25 | $831.9M | $920.3M | ||
| Q2 25 | — | $896.9M | ||
| Q1 25 | — | $872.3M | ||
| Q4 24 | — | $850.4M | ||
| Q3 24 | $351.4M | $837.8M | ||
| Q2 24 | — | $812.1M | ||
| Q1 24 | — | $801.5M |
总资产MIAXOPY
| Q4 25 | — | $3.7B | ||
| Q3 25 | $1.2B | $3.8B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $3.4B | ||
| Q2 24 | — | $3.3B | ||
| Q1 24 | — | $3.3B |
负债/权益比MIAXOPY
| Q4 25 | — | — | ||
| Q3 25 | 0.01× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $120.8M | $188.8M |
| 自由现金流经营现金流 - 资本支出 | $102.2M | $183.6M |
| 自由现金流率自由现金流/营收 | 30.1% | 38.8% |
| 资本支出强度资本支出/营收 | 5.5% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 2.54× |
| 过去12个月自由现金流最近4个季度 | — | $191.3M |
8季度趋势，按日历期对齐
经营现金流MIAXOPY
| Q4 25 | — | $188.8M | ||
| Q3 25 | $120.8M | $63.4M | ||
| Q2 25 | — | $40.1M | ||
| Q1 25 | — | $-91.7M | ||
| Q4 24 | — | $-108.2M | ||
| Q3 24 | — | $11.4M | ||
| Q2 24 | — | $-115.3M | ||
| Q1 24 | — | $-79.0M |
自由现金流MIAXOPY
| Q4 25 | — | $183.6M | ||
| Q3 25 | $102.2M | $62.2M | ||
| Q2 25 | — | $38.9M | ||
| Q1 25 | — | $-93.4M | ||
| Q4 24 | — | $-113.3M | ||
| Q3 24 | — | $11.2M | ||
| Q2 24 | — | $-116.7M | ||
| Q1 24 | — | $-79.3M |
自由现金流率MIAXOPY
| Q4 25 | — | 38.8% | ||
| Q3 25 | 30.1% | 14.7% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | -25.4% | ||
| Q4 24 | — | -30.2% | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | -35.3% | ||
| Q1 24 | — | -22.5% |
资本支出强度MIAXOPY
| Q4 25 | — | 1.1% | ||
| Q3 25 | 5.5% | 0.3% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.1% |
现金转化率MIAXOPY
| Q4 25 | — | 2.54× | ||
| Q3 25 | — | 2.92× | ||
| Q2 25 | — | 1.85× | ||
| Q1 25 | — | -2.99× | ||
| Q4 24 | — | -10.08× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | -11.23× | ||
| Q1 24 | — | -3.03× |
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
MIAX
| Transferred At Point In Time | $246.7M | 73% |
| Transferred Over Time | $29.9M | 9% |
| Access Fees | $27.1M | 8% |
| Futures Segment | $19.4M | 6% |
| Other | $9.1M | 3% |
| TISEG | $4.7M | 1% |
OPY
| Advisory Fees | $166.6M | 35% |
| Capital Markets Segment | $155.5M | 33% |
| Other | $57.2M | 12% |
| Commissions From Sales And Trading | $52.9M | 11% |
| Bank Deposit Sweep Income | $27.7M | 6% |
| Mutual Fund Income | $8.9M | 2% |
| Investment Banking Capital Markets | $3.3M | 1% |
