vs
Marcus & Millichap, Inc.（MMI）与Rapid7, Inc.（RPD）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Rapid7, Inc.的1.1倍（$243.9M vs $217.4M），Marcus & Millichap, Inc.净利率更高（5.5% vs 1.4%，领先4.0%），Marcus & Millichap, Inc.同比增速更快（1.6% vs 0.5%），Marcus & Millichap, Inc.自由现金流更多（$43.9M vs $36.4M），过去两年Marcus & Millichap, Inc.的营收复合增速更高（37.5% vs 3.0%）
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。
Rapid7是全球领先的网络安全企业，提供漏洞管理、威胁检测与响应、云安全、安全分析等全系列安全解决方案，服务全球科技、医疗、金融、制造等行业的各类规模企业及公共部门客户，助力客户高效识别、应对和缓解网络安全风险。
MMI vs RPD — 直观对比
营收规模更大
MMI
是对方的1.1倍
$217.4M
营收增速更快
MMI
高出1.1%
0.5%
净利率更高
MMI
高出4.0%
1.4%
自由现金流更多
MMI
多$7.4M
$36.4M
两年增速更快
MMI
近两年复合增速
3.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $243.9M | $217.4M |
| 净利润 | $13.3M | $3.1M |
| 毛利率 | — | 68.9% |
| 营业利润率 | 6.3% | 1.0% |
| 净利率 | 5.5% | 1.4% |
| 营收同比 | 1.6% | 0.5% |
| 净利润同比 | 55.7% | 44.1% |
| 每股收益（稀释后） | $0.33 | $0.05 |
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MMIRPD
| Q4 25 | $243.9M | $217.4M | ||
| Q3 25 | $193.9M | $218.0M | ||
| Q2 25 | $172.3M | $214.2M | ||
| Q1 25 | $145.0M | $210.3M | ||
| Q4 24 | $240.1M | $216.3M | ||
| Q3 24 | $168.5M | $214.7M | ||
| Q2 24 | $158.4M | $208.0M | ||
| Q1 24 | $129.1M | $205.1M |
净利润MMIRPD
| Q4 25 | $13.3M | $3.1M | ||
| Q3 25 | $240.0K | $9.8M | ||
| Q2 25 | $-11.0M | $8.3M | ||
| Q1 25 | $-4.4M | $2.1M | ||
| Q4 24 | $8.5M | $2.2M | ||
| Q3 24 | $-5.4M | $15.4M | ||
| Q2 24 | $-5.5M | $6.5M | ||
| Q1 24 | $-10.0M | $1.4M |
毛利率MMIRPD
| Q4 25 | — | 68.9% | ||
| Q3 25 | — | 70.2% | ||
| Q2 25 | — | 70.6% | ||
| Q1 25 | — | 71.7% | ||
| Q4 24 | — | 69.5% | ||
| Q3 24 | — | 70.6% | ||
| Q2 24 | — | 70.7% | ||
| Q1 24 | — | 70.3% |
营业利润率MMIRPD
| Q4 25 | 6.3% | 1.0% | ||
| Q3 25 | -1.2% | 2.7% | ||
| Q2 25 | -5.3% | 1.6% | ||
| Q1 25 | -12.2% | -0.0% | ||
| Q4 24 | 2.8% | 3.4% | ||
| Q3 24 | -6.8% | 6.0% | ||
| Q2 24 | -5.1% | 2.5% | ||
| Q1 24 | -15.6% | 4.7% |
净利率MMIRPD
| Q4 25 | 5.5% | 1.4% | ||
| Q3 25 | 0.1% | 4.5% | ||
| Q2 25 | -6.4% | 3.9% | ||
| Q1 25 | -3.0% | 1.0% | ||
| Q4 24 | 3.6% | 1.0% | ||
| Q3 24 | -3.2% | 7.2% | ||
| Q2 24 | -3.5% | 3.1% | ||
| Q1 24 | -7.7% | 0.7% |
每股收益（稀释后）MMIRPD
| Q4 25 | $0.33 | $0.05 | ||
| Q3 25 | $0.01 | $0.15 | ||
| Q2 25 | $-0.28 | $0.13 | ||
| Q1 25 | $-0.11 | $0.03 | ||
| Q4 24 | $0.22 | $0.08 | ||
| Q3 24 | $-0.14 | $0.21 | ||
| Q2 24 | $-0.14 | $0.09 | ||
| Q1 24 | $-0.26 | $0.02 |
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 | — | $474.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $603.1M | $154.7M |
| 总资产 | $827.2M | $1.7B |
| 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MMIRPD
| Q4 25 | — | $474.7M | ||
| Q3 25 | — | $407.1M | ||
| Q2 25 | — | $511.7M | ||
| Q1 25 | — | $493.5M | ||
| Q4 24 | — | $521.7M | ||
| Q3 24 | — | $443.7M | ||
| Q2 24 | — | $442.6M | ||
| Q1 24 | — | $411.7M |
股东权益MMIRPD
| Q4 25 | $603.1M | $154.7M | ||
| Q3 25 | $602.2M | $127.2M | ||
| Q2 25 | $607.8M | $90.4M | ||
| Q1 25 | $617.6M | $52.7M | ||
| Q4 24 | $630.8M | $17.7M | ||
| Q3 24 | $617.7M | $-5.1M | ||
| Q2 24 | $626.7M | $-52.6M | ||
| Q1 24 | $625.6M | $-86.4M |
总资产MMIRPD
| Q4 25 | $827.2M | $1.7B | ||
| Q3 25 | $812.5M | $1.7B | ||
| Q2 25 | $792.2M | $1.6B | ||
| Q1 25 | $802.0M | $1.6B | ||
| Q4 24 | $869.8M | $1.7B | ||
| Q3 24 | $833.7M | $1.6B | ||
| Q2 24 | $825.4M | $1.5B | ||
| Q1 24 | $826.7M | $1.5B |
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 | $37.6M |
| 自由现金流经营现金流 - 资本支出 | $43.9M | $36.4M |
| 自由现金流率自由现金流/营收 | 18.0% | 16.8% |
| 资本支出强度资本支出/营收 | 1.0% | 0.5% |
| 现金转化率经营现金流/净利润 | 3.48× | 12.01× |
| 过去12个月自由现金流最近4个季度 | $58.8M | $146.2M |
8季度趋势，按日历期对齐
经营现金流MMIRPD
| Q4 25 | $46.3M | $37.6M | ||
| Q3 25 | $52.2M | $39.0M | ||
| Q2 25 | $21.0M | $47.5M | ||
| Q1 25 | $-52.8M | $29.8M | ||
| Q4 24 | $56.7M | $63.8M | ||
| Q3 24 | $15.2M | $44.0M | ||
| Q2 24 | $851.0K | $32.9M | ||
| Q1 24 | $-51.0M | $31.1M |
自由现金流MMIRPD
| Q4 25 | $43.9M | $36.4M | ||
| Q3 25 | $50.0M | $34.8M | ||
| Q2 25 | $19.3M | $46.6M | ||
| Q1 25 | $-54.3M | $28.4M | ||
| Q4 24 | $55.1M | $62.6M | ||
| Q3 24 | $13.2M | $42.6M | ||
| Q2 24 | $-806.0K | $32.6M | ||
| Q1 24 | $-53.7M | $30.4M |
自由现金流率MMIRPD
| Q4 25 | 18.0% | 16.8% | ||
| Q3 25 | 25.8% | 16.0% | ||
| Q2 25 | 11.2% | 21.8% | ||
| Q1 25 | -37.5% | 13.5% | ||
| Q4 24 | 23.0% | 28.9% | ||
| Q3 24 | 7.8% | 19.9% | ||
| Q2 24 | -0.5% | 15.7% | ||
| Q1 24 | -41.6% | 14.8% |
资本支出强度MMIRPD
| Q4 25 | 1.0% | 0.5% | ||
| Q3 25 | 1.2% | 1.9% | ||
| Q2 25 | 1.0% | 0.4% | ||
| Q1 25 | 1.0% | 0.6% | ||
| Q4 24 | 0.6% | 0.5% | ||
| Q3 24 | 1.2% | 0.6% | ||
| Q2 24 | 1.0% | 0.1% | ||
| Q1 24 | 2.0% | 0.3% |
现金转化率MMIRPD
| Q4 25 | 3.48× | 12.01× | ||
| Q3 25 | 217.54× | 3.97× | ||
| Q2 25 | — | 5.70× | ||
| Q1 25 | — | 14.14× | ||
| Q4 24 | 6.63× | 29.36× | ||
| Q3 24 | — | 2.85× | ||
| Q2 24 | — | 5.03× | ||
| Q1 24 | — | 22.10× |
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% |
RPD
| Products | $209.1M | 96% |
| Services | $8.2M | 4% |
