vs
Match Group（MTCH）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是Match Group的1.4倍（$1.2B vs $878.0M），Match Group净利率更高（23.9% vs 9.1%，领先14.8%），利氏兄弟拍卖行同比增速更快（5.4% vs 2.1%），Match Group自由现金流更多（$308.1M vs $186.5M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% vs 1.1%）
美国互联网科技企业Match Group总部位于得克萨斯州达拉斯，旗下拥有全球规模最大的在线约会服务品牌矩阵，运营Tinder、Hinge、Plenty of Fish等多款全球知名约会产品。2020年7月公司从IAC分拆为独立上市公司，截至2019年全球付费订阅用户达930万，其中近半数来自北美地区。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
MTCH vs RBA — 直观对比
营收规模更大
RBA
是对方的1.4倍
$878.0M
营收增速更快
RBA
高出3.3%
2.1%
净利率更高
MTCH
高出14.8%
9.1%
自由现金流更多
MTCH
多$121.6M
$186.5M
两年增速更快
RBA
近两年复合增速
1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $878.0M | $1.2B |
| 净利润 | $209.7M | $109.7M |
| 毛利率 | 74.7% | — |
| 营业利润率 | 32.4% | 14.7% |
| 净利率 | 23.9% | 9.1% |
| 营收同比 | 2.1% | 5.4% |
| 净利润同比 | 32.5% | -7.4% |
| 每股收益（稀释后） | $0.83 | $0.53 |
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MTCHRBA
| Q4 25 | $878.0M | $1.2B | ||
| Q3 25 | $914.3M | $1.1B | ||
| Q2 25 | $863.7M | $1.2B | ||
| Q1 25 | $831.2M | $1.1B | ||
| Q4 24 | $860.2M | $1.1B | ||
| Q3 24 | $895.5M | $981.8M | ||
| Q2 24 | $864.1M | $1.1B | ||
| Q1 24 | $859.6M | $1.1B |
净利润MTCHRBA
| Q4 25 | $209.7M | $109.7M | ||
| Q3 25 | $160.8M | $95.5M | ||
| Q2 25 | $125.5M | $109.8M | ||
| Q1 25 | $117.6M | $113.4M | ||
| Q4 24 | $158.3M | $118.5M | ||
| Q3 24 | $136.5M | $76.1M | ||
| Q2 24 | $133.3M | $111.1M | ||
| Q1 24 | $123.2M | $107.4M |
毛利率MTCHRBA
| Q4 25 | 74.7% | — | ||
| Q3 25 | 73.0% | — | ||
| Q2 25 | 72.0% | — | ||
| Q1 25 | 71.5% | — | ||
| Q4 24 | 72.5% | — | ||
| Q3 24 | 71.7% | — | ||
| Q2 24 | 71.6% | — | ||
| Q1 24 | 70.1% | — |
营业利润率MTCHRBA
| Q4 25 | 32.4% | 14.7% | ||
| Q3 25 | 24.2% | 14.5% | ||
| Q2 25 | 22.5% | 15.9% | ||
| Q1 25 | 20.8% | 17.1% | ||
| Q4 24 | 26.0% | 18.1% | ||
| Q3 24 | 23.5% | 15.6% | ||
| Q2 24 | 23.7% | 18.4% | ||
| Q1 24 | 21.5% | 18.7% |
净利率MTCHRBA
| Q4 25 | 23.9% | 9.1% | ||
| Q3 25 | 17.6% | 8.7% | ||
| Q2 25 | 14.5% | 9.3% | ||
| Q1 25 | 14.1% | 10.2% | ||
| Q4 24 | 18.4% | 10.4% | ||
| Q3 24 | 15.2% | 7.8% | ||
| Q2 24 | 15.4% | 10.1% | ||
| Q1 24 | 14.3% | 10.1% |
每股收益（稀释后）MTCHRBA
| Q4 25 | $0.83 | $0.53 | ||
| Q3 25 | $0.62 | $0.43 | ||
| Q2 25 | $0.49 | $0.53 | ||
| Q1 25 | $0.44 | $0.55 | ||
| Q4 24 | $0.59 | $0.58 | ||
| Q3 24 | $0.51 | $0.36 | ||
| Q2 24 | $0.48 | $0.54 | ||
| Q1 24 | $0.44 | $0.53 |
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 | $1.0B | $531.5M |
| 总债务越低越好 | $3.5B | $2.3B |
| 股东权益账面价值 | $-253.5M | $5.6B |
| 总资产 | $4.5B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资MTCHRBA
| Q4 25 | $1.0B | $531.5M | ||
| Q3 25 | $1.1B | $674.7M | ||
| Q2 25 | $340.4M | $710.2M | ||
| Q1 25 | $414.2M | $578.1M | ||
| Q4 24 | $970.7M | $533.9M | ||
| Q3 24 | $860.9M | $650.7M | ||
| Q2 24 | $843.6M | $599.5M | ||
| Q1 24 | $920.9M | $462.8M |
总债务MTCHRBA
| Q4 25 | $3.5B | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | $3.4B | $2.6B | ||
| Q4 24 | $3.8B | $2.6B | ||
| Q3 24 | $3.8B | $2.7B | ||
| Q2 24 | $3.8B | $2.8B | ||
| Q1 24 | $3.8B | $2.9B |
股东权益MTCHRBA
| Q4 25 | $-253.5M | $5.6B | ||
| Q3 25 | $-223.9M | $5.5B | ||
| Q2 25 | $-230.9M | $5.5B | ||
| Q1 25 | $-182.7M | $5.3B | ||
| Q4 24 | $-63.7M | $5.2B | ||
| Q3 24 | $-88.5M | $5.2B | ||
| Q2 24 | $-130.2M | $5.2B | ||
| Q1 24 | $-107.8M | $5.1B |
总资产MTCHRBA
| Q4 25 | $4.5B | $12.1B | ||
| Q3 25 | $4.5B | $12.2B | ||
| Q2 25 | $3.9B | $12.2B | ||
| Q1 25 | $3.9B | $11.9B | ||
| Q4 24 | $4.5B | $11.8B | ||
| Q3 24 | $4.4B | $11.9B | ||
| Q2 24 | $4.4B | $12.1B | ||
| Q1 24 | $4.4B | $12.0B |
负债/权益比MTCHRBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.58× |
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 | $322.8M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $308.1M | $186.5M |
| 自由现金流率自由现金流/营收 | 35.1% | 15.5% |
| 资本支出强度资本支出/营收 | 1.7% | 5.7% |
| 现金转化率经营现金流/净利润 | 1.54× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $719.2M |
8季度趋势，按日历期对齐
经营现金流MTCHRBA
| Q4 25 | $322.8M | $255.2M | ||
| Q3 25 | $320.6M | $239.7M | ||
| Q2 25 | $243.8M | $326.5M | ||
| Q1 25 | $193.1M | $156.8M | ||
| Q4 24 | $254.7M | $184.5M | ||
| Q3 24 | $264.9M | $285.4M | ||
| Q2 24 | $129.0M | $337.3M | ||
| Q1 24 | $284.1M | $124.8M |
自由现金流MTCHRBA
| Q4 25 | $308.1M | $186.5M | ||
| Q3 25 | $306.8M | $188.5M | ||
| Q2 25 | $231.0M | $241.7M | ||
| Q1 25 | $177.7M | $102.5M | ||
| Q4 24 | $247.1M | $127.9M | ||
| Q3 24 | $251.8M | $248.5M | ||
| Q2 24 | $116.3M | $308.6M | ||
| Q1 24 | $266.9M | $79.6M |
自由现金流率MTCHRBA
| Q4 25 | 35.1% | 15.5% | ||
| Q3 25 | 33.6% | 17.3% | ||
| Q2 25 | 26.7% | 20.4% | ||
| Q1 25 | 21.4% | 9.2% | ||
| Q4 24 | 28.7% | 11.2% | ||
| Q3 24 | 28.1% | 25.3% | ||
| Q2 24 | 13.5% | 28.2% | ||
| Q1 24 | 31.0% | 7.5% |
资本支出强度MTCHRBA
| Q4 25 | 1.7% | 5.7% | ||
| Q3 25 | 1.5% | 4.7% | ||
| Q2 25 | 1.5% | 7.2% | ||
| Q1 25 | 1.9% | 4.9% | ||
| Q4 24 | 0.9% | 5.0% | ||
| Q3 24 | 1.5% | 3.8% | ||
| Q2 24 | 1.5% | 2.6% | ||
| Q1 24 | 2.0% | 4.2% |
现金转化率MTCHRBA
| Q4 25 | 1.54× | 2.33× | ||
| Q3 25 | 1.99× | 2.51× | ||
| Q2 25 | 1.94× | 2.97× | ||
| Q1 25 | 1.64× | 1.38× | ||
| Q4 24 | 1.61× | 1.56× | ||
| Q3 24 | 1.94× | 3.75× | ||
| Q2 24 | 0.97× | 3.04× | ||
| Q1 24 | 2.31× | 1.16× |
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
MTCH
| Tinder Segment | $479.3M | 55% |
| Hinge Segment | $186.5M | 21% |
| Evergreen And Emerging Segment | $148.1M | 17% |
| MG Asia Segment | $65.8M | 7% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
