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Marcus & Millichap, Inc.（MMI）与LiveRamp Holdings, Inc.（RAMP）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LiveRamp Holdings, Inc.的1.1倍（$243.9M vs $212.2M），LiveRamp Holdings, Inc.净利率更高（18.8% vs 5.5%，领先13.3%），LiveRamp Holdings, Inc.同比增速更快（8.6% vs 1.6%），过去两年Marcus & Millichap, Inc.的营收复合增速更高（37.5% vs 11.1%）
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。
LiveRamp Holdings, Inc.是一家美国SaaS企业，核心业务为提供数据连接平台，服务涵盖数据导入、线下数据线上迁移等能力，助力企业开展营销相关的数据应用，为品牌及营销从业者的数字化运营提供技术支撑。
MMI vs RAMP — 直观对比
营收规模更大
MMI
是对方的1.1倍
$212.2M
营收增速更快
RAMP
高出7.0%
1.6%
净利率更高
RAMP
高出13.3%
5.5%
两年增速更快
MMI
近两年复合增速
11.1%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $243.9M | $212.2M |
| 净利润 | $13.3M | $39.9M |
| 毛利率 | — | 71.9% |
| 营业利润率 | 6.3% | 18.6% |
| 净利率 | 5.5% | 18.8% |
| 营收同比 | 1.6% | 8.6% |
| 净利润同比 | 55.7% | 255.7% |
| 每股收益（稀释后） | $0.33 | $0.62 |
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MMIRAMP
| Q4 25 | $243.9M | $212.2M | ||
| Q3 25 | $193.9M | $199.8M | ||
| Q2 25 | $172.3M | $194.8M | ||
| Q1 25 | $145.0M | $188.7M | ||
| Q4 24 | $240.1M | $195.4M | ||
| Q3 24 | $168.5M | $185.5M | ||
| Q2 24 | $158.4M | $176.0M | ||
| Q1 24 | $129.1M | $171.9M |
净利润MMIRAMP
| Q4 25 | $13.3M | $39.9M | ||
| Q3 25 | $240.0K | $27.4M | ||
| Q2 25 | $-11.0M | $7.7M | ||
| Q1 25 | $-4.4M | $-6.3M | ||
| Q4 24 | $8.5M | $11.2M | ||
| Q3 24 | $-5.4M | $1.7M | ||
| Q2 24 | $-5.5M | $-7.5M | ||
| Q1 24 | $-10.0M | $-5.4M |
毛利率MMIRAMP
| Q4 25 | — | 71.9% | ||
| Q3 25 | — | 70.2% | ||
| Q2 25 | — | 70.1% | ||
| Q1 25 | — | 69.3% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | — | 72.4% | ||
| Q2 24 | — | 70.6% | ||
| Q1 24 | — | 72.2% |
营业利润率MMIRAMP
| Q4 25 | 6.3% | 18.6% | ||
| Q3 25 | -1.2% | 10.7% | ||
| Q2 25 | -5.3% | 3.7% | ||
| Q1 25 | -12.2% | -6.1% | ||
| Q4 24 | 2.8% | 7.5% | ||
| Q3 24 | -6.8% | 4.0% | ||
| Q2 24 | -5.1% | -3.0% | ||
| Q1 24 | -15.6% | -8.3% |
净利率MMIRAMP
| Q4 25 | 5.5% | 18.8% | ||
| Q3 25 | 0.1% | 13.7% | ||
| Q2 25 | -6.4% | 4.0% | ||
| Q1 25 | -3.0% | -3.3% | ||
| Q4 24 | 3.6% | 5.7% | ||
| Q3 24 | -3.2% | 0.9% | ||
| Q2 24 | -3.5% | -4.3% | ||
| Q1 24 | -7.7% | -3.1% |
每股收益（稀释后）MMIRAMP
| Q4 25 | $0.33 | $0.62 | ||
| Q3 25 | $0.01 | $0.42 | ||
| Q2 25 | $-0.28 | $0.12 | ||
| Q1 25 | $-0.11 | $-0.10 | ||
| Q4 24 | $0.22 | $0.17 | ||
| Q3 24 | $-0.14 | $0.03 | ||
| Q2 24 | $-0.14 | $-0.11 | ||
| Q1 24 | $-0.26 | $-0.09 |
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 | — | $403.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $603.1M | $962.3M |
| 总资产 | $827.2M | $1.3B |
| 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MMIRAMP
| Q4 25 | — | $403.4M | ||
| Q3 25 | — | $376.9M | ||
| Q2 25 | — | $371.1M | ||
| Q1 25 | — | $420.8M | ||
| Q4 24 | — | $384.3M | ||
| Q3 24 | — | $348.4M | ||
| Q2 24 | — | $342.7M | ||
| Q1 24 | — | $368.9M |
股东权益MMIRAMP
| Q4 25 | $603.1M | $962.3M | ||
| Q3 25 | $602.2M | $943.8M | ||
| Q2 25 | $607.8M | $947.8M | ||
| Q1 25 | $617.6M | $948.9M | ||
| Q4 24 | $630.8M | $957.7M | ||
| Q3 24 | $617.7M | $932.1M | ||
| Q2 24 | $626.7M | $951.9M | ||
| Q1 24 | $625.6M | $949.1M |
总资产MMIRAMP
| Q4 25 | $827.2M | $1.3B | ||
| Q3 25 | $812.5M | $1.2B | ||
| Q2 25 | $792.2M | $1.2B | ||
| Q1 25 | $802.0M | $1.3B | ||
| Q4 24 | $869.8M | $1.3B | ||
| Q3 24 | $833.7M | $1.2B | ||
| Q2 24 | $825.4M | $1.2B | ||
| Q1 24 | $826.7M | $1.2B |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $43.9M | — |
| 自由现金流率自由现金流/营收 | 18.0% | — |
| 资本支出强度资本支出/营收 | 1.0% | 0.1% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流MMIRAMP
| Q4 25 | $46.3M | — | ||
| Q3 25 | $52.2M | $57.4M | ||
| Q2 25 | $21.0M | $-15.8M | ||
| Q1 25 | $-52.8M | — | ||
| Q4 24 | $56.7M | $45.1M | ||
| Q3 24 | $15.2M | $55.6M | ||
| Q2 24 | $851.0K | $-9.3M | ||
| Q1 24 | $-51.0M | — |
自由现金流MMIRAMP
| Q4 25 | $43.9M | — | ||
| Q3 25 | $50.0M | $56.8M | ||
| Q2 25 | $19.3M | $-16.2M | ||
| Q1 25 | $-54.3M | — | ||
| Q4 24 | $55.1M | $44.8M | ||
| Q3 24 | $13.2M | $55.4M | ||
| Q2 24 | $-806.0K | $-9.6M | ||
| Q1 24 | $-53.7M | — |
自由现金流率MMIRAMP
| Q4 25 | 18.0% | — | ||
| Q3 25 | 25.8% | 28.4% | ||
| Q2 25 | 11.2% | -8.3% | ||
| Q1 25 | -37.5% | — | ||
| Q4 24 | 23.0% | 22.9% | ||
| Q3 24 | 7.8% | 29.8% | ||
| Q2 24 | -0.5% | -5.4% | ||
| Q1 24 | -41.6% | — |
资本支出强度MMIRAMP
| Q4 25 | 1.0% | 0.1% | ||
| Q3 25 | 1.2% | 0.3% | ||
| Q2 25 | 1.0% | 0.2% | ||
| Q1 25 | 1.0% | 0.2% | ||
| Q4 24 | 0.6% | 0.1% | ||
| Q3 24 | 1.2% | 0.1% | ||
| Q2 24 | 1.0% | 0.1% | ||
| Q1 24 | 2.0% | 1.0% |
现金转化率MMIRAMP
| Q4 25 | 3.48× | — | ||
| Q3 25 | 217.54× | 2.09× | ||
| Q2 25 | — | -2.04× | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.63× | 4.02× | ||
| Q3 24 | — | 32.10× | ||
| Q2 24 | — | — | ||
| 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% |
RAMP
暂无分部数据
