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Marcus & Millichap, Inc.（MMI）与Purple Innovation, Inc.（PRPL）财务数据对比。点击上方公司名可切换其他公司
Marcus & Millichap, Inc.的季度营收约是Purple Innovation, Inc.的1.7倍（$243.9M vs $140.7M），Marcus & Millichap, Inc.净利率更高（5.5% vs -2.3%，领先7.7%），Purple Innovation, Inc.同比增速更快（9.1% vs 1.6%），Marcus & Millichap, Inc.自由现金流更多（$43.9M vs $-7.8M），过去两年Marcus & Millichap, Inc.的营收复合增速更高（37.5% vs 8.3%）
马库斯-米利查普是一家美国商业地产服务企业，在美国和加拿大开展业务，核心服务涵盖商业地产经纪、抵押贷款经纪、市场研究及顾问咨询，业内首创了单经纪机构独家代理房源挂牌模式，目前在美加两国设有超过80家办事处，员工规模超1800人。
Purple Carrot是一家总部位于马萨诸塞州尼达姆市的全植物性餐包品牌，由安迪·莱维特创立，每周为订阅用户提供预制餐品和自制餐包。据《大都会》2022年报道，对比美式标准餐食，该品牌每份餐包的碳排放量可降低72%，主打低碳环保的纯植物饮食方案。
MMI vs PRPL — 直观对比
营收规模更大
MMI
是对方的1.7倍
$140.7M
营收增速更快
PRPL
高出7.5%
1.6%
净利率更高
MMI
高出7.7%
-2.3%
自由现金流更多
MMI
多$51.7M
$-7.8M
两年增速更快
MMI
近两年复合增速
8.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $243.9M | $140.7M |
| 净利润 | $13.3M | $-3.2M |
| 毛利率 | — | 41.9% |
| 营业利润率 | 6.3% | -1.6% |
| 净利率 | 5.5% | -2.3% |
| 营收同比 | 1.6% | 9.1% |
| 净利润同比 | 55.7% | 62.1% |
| 每股收益（稀释后） | $0.33 | $0.03 |
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MMIPRPL
| Q4 25 | $243.9M | $140.7M | ||
| Q3 25 | $193.9M | $118.8M | ||
| Q2 25 | $172.3M | $105.1M | ||
| Q1 25 | $145.0M | $104.2M | ||
| Q4 24 | $240.1M | $129.0M | ||
| Q3 24 | $168.5M | $118.6M | ||
| Q2 24 | $158.4M | $120.3M | ||
| Q1 24 | $129.1M | $120.0M |
净利润MMIPRPL
| Q4 25 | $13.3M | $-3.2M | ||
| Q3 25 | $240.0K | $-11.7M | ||
| Q2 25 | $-11.0M | $-17.3M | ||
| Q1 25 | $-4.4M | $-19.1M | ||
| Q4 24 | $8.5M | $-8.5M | ||
| Q3 24 | $-5.4M | $-39.2M | ||
| Q2 24 | $-5.5M | $27.0K | ||
| Q1 24 | $-10.0M | $-50.2M |
毛利率MMIPRPL
| Q4 25 | — | 41.9% | ||
| Q3 25 | — | 42.8% | ||
| Q2 25 | — | 35.9% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 42.9% | ||
| Q3 24 | — | 29.7% | ||
| Q2 24 | — | 40.7% | ||
| Q1 24 | — | 34.8% |
营业利润率MMIPRPL
| Q4 25 | 6.3% | -1.6% | ||
| Q3 25 | -1.2% | -10.2% | ||
| Q2 25 | -5.3% | -13.5% | ||
| Q1 25 | -12.2% | -13.9% | ||
| Q4 24 | 2.8% | -6.0% | ||
| Q3 24 | -6.8% | -39.5% | ||
| Q2 24 | -5.1% | -12.1% | ||
| Q1 24 | -15.6% | -19.3% |
净利率MMIPRPL
| Q4 25 | 5.5% | -2.3% | ||
| Q3 25 | 0.1% | -9.9% | ||
| Q2 25 | -6.4% | -16.5% | ||
| Q1 25 | -3.0% | -18.4% | ||
| Q4 24 | 3.6% | -6.6% | ||
| Q3 24 | -3.2% | -33.1% | ||
| Q2 24 | -3.5% | 0.0% | ||
| Q1 24 | -7.7% | -41.8% |
每股收益（稀释后）MMIPRPL
| Q4 25 | $0.33 | $0.03 | ||
| Q3 25 | $0.01 | $0.11 | ||
| Q2 25 | $-0.28 | $0.16 | ||
| Q1 25 | $-0.11 | $0.18 | ||
| Q4 24 | $0.22 | $0.08 | ||
| Q3 24 | $-0.14 | $0.36 | ||
| Q2 24 | $-0.14 | $0.00 | ||
| Q1 24 | $-0.26 | $0.47 |
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 | — | $24.3M |
| 总债务越低越好 | — | $126.7M |
| 股东权益账面价值 | $603.1M | $-29.7M |
| 总资产 | $827.2M | $296.3M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MMIPRPL
| Q4 25 | — | $24.3M | ||
| Q3 25 | — | $32.4M | ||
| Q2 25 | — | $34.2M | ||
| Q1 25 | — | $21.6M | ||
| Q4 24 | — | $29.0M | ||
| Q3 24 | — | $23.4M | ||
| Q2 24 | — | $23.4M | ||
| Q1 24 | — | $34.5M |
总债务MMIPRPL
| Q4 25 | — | $126.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $70.7M | ||
| Q3 24 | — | $50.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益MMIPRPL
| Q4 25 | $603.1M | $-29.7M | ||
| Q3 25 | $602.2M | $-26.9M | ||
| Q2 25 | $607.8M | $-15.6M | ||
| Q1 25 | $617.6M | $1.3M | ||
| Q4 24 | $630.8M | $20.2M | ||
| Q3 24 | $617.7M | $28.0M | ||
| Q2 24 | $626.7M | $66.4M | ||
| Q1 24 | $625.6M | $65.5M |
总资产MMIPRPL
| Q4 25 | $827.2M | $296.3M | ||
| Q3 25 | $812.5M | $302.1M | ||
| Q2 25 | $792.2M | $303.8M | ||
| Q1 25 | $802.0M | $293.8M | ||
| Q4 24 | $869.8M | $307.8M | ||
| Q3 24 | $833.7M | $309.3M | ||
| Q2 24 | $825.4M | $362.1M | ||
| Q1 24 | $826.7M | $382.1M |
负债/权益比MMIPRPL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.50× | ||
| Q3 24 | — | 1.82× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $46.3M | $-5.8M |
| 自由现金流经营现金流 - 资本支出 | $43.9M | $-7.8M |
| 自由现金流率自由现金流/营收 | 18.0% | -5.5% |
| 资本支出强度资本支出/营收 | 1.0% | 1.4% |
| 现金转化率经营现金流/净利润 | 3.48× | — |
| 过去12个月自由现金流最近4个季度 | $58.8M | $-41.9M |
8季度趋势，按日历期对齐
经营现金流MMIPRPL
| Q4 25 | $46.3M | $-5.8M | ||
| Q3 25 | $52.2M | $-968.0K | ||
| Q2 25 | $21.0M | $-4.0M | ||
| Q1 25 | $-52.8M | $-23.1M | ||
| Q4 24 | $56.7M | $6.8M | ||
| Q3 24 | $15.2M | $1.1M | ||
| Q2 24 | $851.0K | $-8.9M | ||
| Q1 24 | $-51.0M | $-16.8M |
自由现金流MMIPRPL
| Q4 25 | $43.9M | $-7.8M | ||
| Q3 25 | $50.0M | $-1.8M | ||
| Q2 25 | $19.3M | $-7.0M | ||
| Q1 25 | $-54.3M | $-25.3M | ||
| Q4 24 | $55.1M | $5.7M | ||
| Q3 24 | $13.2M | $101.0K | ||
| Q2 24 | $-806.0K | $-11.0M | ||
| Q1 24 | $-53.7M | $-19.9M |
自由现金流率MMIPRPL
| Q4 25 | 18.0% | -5.5% | ||
| Q3 25 | 25.8% | -1.5% | ||
| Q2 25 | 11.2% | -6.6% | ||
| Q1 25 | -37.5% | -24.3% | ||
| Q4 24 | 23.0% | 4.4% | ||
| Q3 24 | 7.8% | 0.1% | ||
| Q2 24 | -0.5% | -9.2% | ||
| Q1 24 | -41.6% | -16.5% |
资本支出强度MMIPRPL
| Q4 25 | 1.0% | 1.4% | ||
| Q3 25 | 1.2% | 0.7% | ||
| Q2 25 | 1.0% | 2.8% | ||
| Q1 25 | 1.0% | 2.2% | ||
| Q4 24 | 0.6% | 0.8% | ||
| Q3 24 | 1.2% | 0.9% | ||
| Q2 24 | 1.0% | 1.7% | ||
| Q1 24 | 2.0% | 2.5% |
现金转化率MMIPRPL
| Q4 25 | 3.48× | — | ||
| Q3 25 | 217.54× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.63× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -330.22× | ||
| 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
MMI
| Real Estate Brokerage Commissions | $205.3M | 84% |
| Financing Fees | $33.2M | 14% |
| Other Revenues | $5.4M | 2% |
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
