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范尔度假村（MTN）与BRC Group Holdings, Inc.（RILY）财务数据对比。点击上方公司名可切换其他公司
范尔度假村的季度营收约是BRC Group Holdings, Inc.的1.4倍（$271.0M vs $188.3M），BRC Group Holdings, Inc.净利率更高（47.9% vs -68.9%，领先116.8%），范尔度假村同比增速更快（4.1% vs -21.9%），过去两年BRC Group Holdings, Inc.的营收复合增速更高（-15.4% vs -49.9%）
范尔度假村是美国知名山地度假集团，总部位于科罗拉多州布鲁姆菲尔德。集团旗下在全球4个国家运营42家山地度假村，同时持有并运营酒店、民宿、公寓及高尔夫球场等各类度假不动产，为全球游客提供高品质的山地休闲与旅居服务。
MTN vs RILY — 直观对比
营收规模更大
MTN
是对方的1.4倍
$188.3M
营收增速更快
MTN
高出26.0%
-21.9%
净利率更高
RILY
高出116.8%
-68.9%
两年增速更快
RILY
近两年复合增速
-49.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $271.0M | $188.3M |
| 净利润 | $-186.8M | $90.3M |
| 毛利率 | — | 79.5% |
| 营业利润率 | -77.4% | 32.3% |
| 净利率 | -68.9% | 47.9% |
| 营收同比 | 4.1% | -21.9% |
| 净利润同比 | -8.1% | 1710.8% |
| 每股收益（稀释后） | $-5.20 | $2.78 |
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MTNRILY
| Q4 25 | $271.0M | $188.3M | ||
| Q3 25 | $271.3M | $215.3M | ||
| Q2 25 | $1.3B | $188.2M | ||
| Q1 25 | $1.1B | $197.2M | ||
| Q4 24 | $260.3M | $241.0M | ||
| Q3 24 | $265.4M | $225.5M | ||
| Q2 24 | $1.3B | $256.0M | ||
| Q1 24 | $1.1B | $263.4M |
净利润MTNRILY
| Q4 25 | $-186.8M | $90.3M | ||
| Q3 25 | $-185.5M | $91.1M | ||
| Q2 25 | $392.8M | $139.5M | ||
| Q1 25 | $245.5M | $-10.0M | ||
| Q4 24 | $-172.8M | $-5.6M | ||
| Q3 24 | $-175.4M | $-284.4M | ||
| Q2 24 | $362.0M | $-433.6M | ||
| Q1 24 | $219.3M | $-49.2M |
毛利率MTNRILY
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 83.7% | ||
| Q2 25 | — | 81.3% | ||
| Q1 25 | — | 81.4% | ||
| Q4 24 | — | 79.8% | ||
| Q3 24 | — | 82.1% | ||
| Q2 24 | — | 84.5% | ||
| Q1 24 | — | 85.3% |
营业利润率MTNRILY
| Q4 25 | -77.4% | 32.3% | ||
| Q3 25 | -75.1% | 30.4% | ||
| Q2 25 | 44.9% | 5.7% | ||
| Q1 25 | 33.8% | -31.2% | ||
| Q4 24 | -77.6% | -69.2% | ||
| Q3 24 | -74.9% | -36.4% | ||
| Q2 24 | 42.6% | -90.8% | ||
| Q1 24 | 32.5% | -6.1% |
净利率MTNRILY
| Q4 25 | -68.9% | 47.9% | ||
| Q3 25 | -68.4% | 42.3% | ||
| Q2 25 | 30.3% | 74.1% | ||
| Q1 25 | 21.6% | -5.1% | ||
| Q4 24 | -66.4% | -2.3% | ||
| Q3 24 | -66.1% | -126.1% | ||
| Q2 24 | 28.2% | -169.4% | ||
| Q1 24 | 20.3% | -18.7% |
每股收益（稀释后）MTNRILY
| Q4 25 | $-5.20 | $2.78 | ||
| Q3 25 | $-4.96 | $2.91 | ||
| Q2 25 | $10.54 | $4.50 | ||
| Q1 25 | $6.56 | $-0.39 | ||
| Q4 24 | $-4.61 | $-0.01 | ||
| Q3 24 | $-4.63 | $-9.39 | ||
| Q2 24 | $9.54 | $-14.35 | ||
| Q1 24 | $5.76 | $-1.71 |
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 | $581.5M | $226.6M |
| 总债务越低越好 | $2.6B | $1.4B |
| 股东权益账面价值 | $156.5M | $-171.5M |
| 总资产 | $5.8B | $1.7B |
| 负债/权益比越低杠杆越低 | 16.51× | — |
8季度趋势，按日历期对齐
现金及短期投资MTNRILY
| Q4 25 | $581.5M | $226.6M | ||
| Q3 25 | $440.3M | $184.2M | ||
| Q2 25 | $467.0M | $267.4M | ||
| Q1 25 | $488.2M | $138.3M | ||
| Q4 24 | $403.8M | $146.9M | ||
| Q3 24 | $322.8M | $159.2M | ||
| Q2 24 | $705.4M | $236.9M | ||
| Q1 24 | $812.2M | $190.7M |
总债务MTNRILY
| Q4 25 | $2.6B | $1.4B | ||
| Q3 25 | $2.6B | $1.3B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.7B | $1.5B | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.7B | — |
股东权益MTNRILY
| Q4 25 | $156.5M | $-171.5M | ||
| Q3 25 | $424.5M | $-260.5M | ||
| Q2 25 | $895.4M | $-351.7M | ||
| Q1 25 | $530.7M | $-496.8M | ||
| Q4 24 | $444.1M | $-488.2M | ||
| Q3 24 | $723.5M | $-497.6M | ||
| Q2 24 | $1.0B | $-218.3M | ||
| Q1 24 | $829.9M | $228.4M |
总资产MTNRILY
| Q4 25 | $5.8B | $1.7B | ||
| Q3 25 | $5.8B | $1.7B | ||
| Q2 25 | $5.8B | $1.5B | ||
| Q1 25 | $5.5B | $1.5B | ||
| Q4 24 | $5.6B | $1.8B | ||
| Q3 24 | $5.7B | $2.2B | ||
| Q2 24 | $5.8B | $3.2B | ||
| Q1 24 | $5.8B | $5.0B |
负债/权益比MTNRILY
| Q4 25 | 16.51× | — | ||
| Q3 25 | 6.11× | — | ||
| Q2 25 | 2.35× | — | ||
| Q1 25 | 3.99× | — | ||
| Q4 24 | 6.10× | — | ||
| Q3 24 | 3.76× | — | ||
| Q2 24 | 2.69× | — | ||
| Q1 24 | 3.28× | — |
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 | $315.9M | $26.2M |
| 自由现金流经营现金流 - 资本支出 | $244.3M | — |
| 自由现金流率自由现金流/营收 | 90.1% | — |
| 资本支出强度资本支出/营收 | 26.4% | — |
| 现金转化率经营现金流/净利润 | — | 0.29× |
| 过去12个月自由现金流最近4个季度 | $352.5M | — |
8季度趋势，按日历期对齐
经营现金流MTNRILY
| Q4 25 | $315.9M | $26.2M | ||
| Q3 25 | $-171.6M | $-60.6M | ||
| Q2 25 | $117.7M | $-25.6M | ||
| Q1 25 | $326.3M | $184.0K | ||
| Q4 24 | $282.4M | $-2.7M | ||
| Q3 24 | $-94.2M | $19.5M | ||
| Q2 24 | $109.9M | $111.5M | ||
| Q1 24 | $242.7M | $135.4M |
自由现金流MTNRILY
| Q4 25 | $244.3M | — | ||
| Q3 25 | $-227.5M | — | ||
| Q2 25 | $84.5M | — | ||
| Q1 25 | $251.2M | — | ||
| Q4 24 | $211.4M | — | ||
| Q3 24 | $-150.3M | — | ||
| Q2 24 | $85.0M | — | ||
| Q1 24 | $165.8M | — |
自由现金流率MTNRILY
| Q4 25 | 90.1% | — | ||
| Q3 25 | -83.9% | — | ||
| Q2 25 | 6.5% | — | ||
| Q1 25 | 22.1% | — | ||
| Q4 24 | 81.2% | — | ||
| Q3 24 | -56.6% | — | ||
| Q2 24 | 6.6% | — | ||
| Q1 24 | 15.4% | — |
资本支出强度MTNRILY
| Q4 25 | 26.4% | — | ||
| Q3 25 | 20.6% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 27.3% | — | ||
| Q3 24 | 21.1% | — | ||
| Q2 24 | 1.9% | — | ||
| Q1 24 | 7.1% | — |
现金转化率MTNRILY
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | -0.66× | ||
| Q2 25 | 0.30× | -0.18× | ||
| Q1 25 | 1.33× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.30× | — | ||
| Q1 24 | 1.11× | — |
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
MTN
| Dining | $84.6M | 31% |
| Lodgingrevenueexcludingpayrollcostreimbursements | $67.2M | 25% |
| Other Mountain Revenue | $55.1M | 20% |
| Managedcondominiumrooms | $26.1M | 10% |
| Owned Hotel Revenue | $12.7M | 5% |
| Other Lodging Revenue | $10.2M | 4% |
| Other | $5.9M | 2% |
| Transportation | $4.8M | 2% |
| Payrollcostreimbursements | $4.4M | 2% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
