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MARINE PRODUCTS CORP（MPX）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MARINE PRODUCTS CORP的1.1倍（$71.1M vs $64.6M），MARINE PRODUCTS CORP净利率更高（3.7% vs 2.0%，领先1.6%），MARINE PRODUCTS CORP同比增速更快（35.0% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $4.1M），过去两年MARINE PRODUCTS CORP的营收复合增速更高（-3.5% vs -4.7%）
Marine Products Corp旗下的West Marine是一家总部位于美国佛罗里达州劳德代尔堡的企业，在北美地区经营247家船艇用品及渔具零售连锁店，同时运营名为蓝色未来的非营利组织，品牌旗舰店面积超5万平方英尺，于2011年11月11日在劳德代尔堡正式开业。
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。
MPX vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.1倍
$64.6M
营收增速更快
MPX
高出36.9%
-1.8%
净利率更高
MPX
高出1.6%
2.0%
自由现金流更多
RMAX
多$29.4M
$4.1M
两年增速更快
MPX
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $64.6M | $71.1M |
| 净利润 | $2.4M | $1.4M |
| 毛利率 | 19.6% | — |
| 营业利润率 | 5.8% | 13.1% |
| 净利率 | 3.7% | 2.0% |
| 营收同比 | 35.0% | -1.8% |
| 净利润同比 | -44.6% | -75.2% |
| 每股收益（稀释后） | $0.07 | — |
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MPXRMAX
| Q4 25 | $64.6M | $71.1M | ||
| Q3 25 | $53.1M | $73.2M | ||
| Q2 25 | $67.7M | $72.8M | ||
| Q1 25 | $59.0M | $74.5M | ||
| Q4 24 | $47.8M | $72.5M | ||
| Q3 24 | $49.9M | $78.5M | ||
| Q2 24 | $69.5M | $78.5M | ||
| Q1 24 | $69.3M | $78.3M |
净利润MPXRMAX
| Q4 25 | $2.4M | $1.4M | ||
| Q3 25 | $2.6M | $4.0M | ||
| Q2 25 | $4.2M | $4.7M | ||
| Q1 25 | $2.2M | $-2.0M | ||
| Q4 24 | $4.3M | $5.8M | ||
| Q3 24 | $3.4M | $966.0K | ||
| Q2 24 | $5.6M | $3.7M | ||
| Q1 24 | $4.6M | $-3.4M |
毛利率MPXRMAX
| Q4 25 | 19.6% | — | ||
| Q3 25 | 19.2% | — | ||
| Q2 25 | 19.1% | — | ||
| Q1 25 | 18.6% | — | ||
| Q4 24 | 19.2% | — | ||
| Q3 24 | 18.4% | — | ||
| Q2 24 | 18.9% | — | ||
| Q1 24 | 20.2% | — |
营业利润率MPXRMAX
| Q4 25 | 5.8% | 13.1% | ||
| Q3 25 | 5.4% | 25.0% | ||
| Q2 25 | 7.1% | 19.3% | ||
| Q1 25 | 4.4% | 7.2% | ||
| Q4 24 | 7.7% | 5.9% | ||
| Q3 24 | 7.2% | 19.4% | ||
| Q2 24 | 8.3% | 20.6% | ||
| Q1 24 | 7.6% | 5.8% |
净利率MPXRMAX
| Q4 25 | 3.7% | 2.0% | ||
| Q3 25 | 5.0% | 5.4% | ||
| Q2 25 | 6.1% | 6.4% | ||
| Q1 25 | 3.7% | -2.6% | ||
| Q4 24 | 8.9% | 8.0% | ||
| Q3 24 | 6.8% | 1.2% | ||
| Q2 24 | 8.0% | 4.7% | ||
| Q1 24 | 6.6% | -4.3% |
每股收益（稀释后）MPXRMAX
| Q4 25 | $0.07 | — | ||
| Q3 25 | $0.07 | — | ||
| Q2 25 | $0.12 | — | ||
| Q1 25 | $0.06 | — | ||
| Q4 24 | $0.13 | — | ||
| Q3 24 | $0.10 | — | ||
| Q2 24 | $0.14 | — | ||
| Q1 24 | $0.13 | — |
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 | — | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $125.0M | $452.4M |
| 总资产 | $147.2M | $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MPXRMAX
| Q4 25 | — | $118.7M | ||
| Q3 25 | — | $107.5M | ||
| Q2 25 | — | $94.3M | ||
| Q1 25 | — | $89.1M | ||
| Q4 24 | — | $96.6M | ||
| Q3 24 | — | $83.8M | ||
| Q2 24 | — | $66.1M | ||
| Q1 24 | — | $82.1M |
总债务MPXRMAX
| 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MPXRMAX
| Q4 25 | $125.0M | $452.4M | ||
| Q3 25 | $126.3M | $448.1M | ||
| Q2 25 | $127.2M | $442.4M | ||
| Q1 25 | $126.4M | $433.5M | ||
| Q4 24 | $129.0M | $429.5M | ||
| Q3 24 | $128.8M | $423.1M | ||
| Q2 24 | $129.3M | $418.4M | ||
| Q1 24 | $151.4M | $412.0M |
总资产MPXRMAX
| Q4 25 | $147.2M | $582.5M | ||
| Q3 25 | $179.5M | $582.2M | ||
| Q2 25 | $173.2M | $574.8M | ||
| Q1 25 | $182.9M | $571.4M | ||
| Q4 24 | $171.2M | $581.6M | ||
| Q3 24 | $176.3M | $578.6M | ||
| Q2 24 | $175.7M | $571.4M | ||
| Q1 24 | $204.0M | $566.7M |
负债/权益比MPXRMAX
| 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 | $4.7M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $4.1M | $33.5M |
| 自由现金流率自由现金流/营收 | 6.4% | 47.1% |
| 资本支出强度资本支出/营收 | 0.9% | 10.4% |
| 现金转化率经营现金流/净利润 | 2.00× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $14.9M | $56.8M |
8季度趋势，按日历期对齐
经营现金流MPXRMAX
| Q4 25 | $4.7M | $40.9M | ||
| Q3 25 | $2.6M | $17.7M | ||
| Q2 25 | $-1.6M | $4.6M | ||
| Q1 25 | $10.8M | $5.7M | ||
| Q4 24 | $4.6M | $59.7M | ||
| Q3 24 | $5.1M | $17.6M | ||
| Q2 24 | $3.8M | $15.9M | ||
| Q1 24 | $15.9M | $9.4M |
自由现金流MPXRMAX
| Q4 25 | $4.1M | $33.5M | ||
| Q3 25 | $2.1M | $16.4M | ||
| Q2 25 | $-2.0M | $2.9M | ||
| Q1 25 | $10.7M | $4.0M | ||
| Q4 24 | $3.6M | $53.0M | ||
| Q3 24 | $3.2M | $16.3M | ||
| Q2 24 | $3.0M | $14.0M | ||
| Q1 24 | $15.0M | $6.8M |
自由现金流率MPXRMAX
| Q4 25 | 6.4% | 47.1% | ||
| Q3 25 | 4.0% | 22.4% | ||
| Q2 25 | -3.0% | 4.0% | ||
| Q1 25 | 18.1% | 5.3% | ||
| Q4 24 | 7.6% | 73.2% | ||
| Q3 24 | 6.5% | 20.8% | ||
| Q2 24 | 4.4% | 17.8% | ||
| Q1 24 | 21.7% | 8.6% |
资本支出强度MPXRMAX
| Q4 25 | 0.9% | 10.4% | ||
| Q3 25 | 0.8% | 1.8% | ||
| Q2 25 | 0.6% | 2.2% | ||
| Q1 25 | 0.2% | 2.3% | ||
| Q4 24 | 2.1% | 9.1% | ||
| Q3 24 | 3.8% | 1.7% | ||
| Q2 24 | 1.1% | 2.4% | ||
| Q1 24 | 1.3% | 3.3% |
现金转化率MPXRMAX
| Q4 25 | 2.00× | 28.39× | ||
| Q3 25 | 0.97× | 4.45× | ||
| Q2 25 | -0.39× | 0.97× | ||
| Q1 25 | 4.88× | — | ||
| Q4 24 | 1.09× | 10.28× | ||
| Q3 24 | 1.51× | 18.22× | ||
| Q2 24 | 0.68× | 4.29× | ||
| Q1 24 | 3.46× | — |
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
MPX
| Boats And Accessories | $63.4M | 98% |
| Parts | $1.1M | 2% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
