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美格纳半导体（MX）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.的季度营收约是美格纳半导体的1.8倍（$71.1M vs $40.6M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -19.9%，领先21.9%），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -20.7%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $-4.8M），过去两年美格纳半导体的营收复合增速更高（-3.4% vs -4.7%）
美格纳半导体是一家全球化半导体设计制造企业，核心产品涵盖显示驱动芯片、电源管理芯片及传感器解决方案，广泛服务消费电子、汽车、工业、通信等领域的全球头部客户。
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。
MX vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.8倍
$40.6M
营收增速更快
RMAX
高出18.9%
-20.7%
净利率更高
RMAX
高出21.9%
-19.9%
自由现金流更多
RMAX
多$38.3M
$-4.8M
两年增速更快
MX
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $40.6M | $71.1M |
| 净利润 | $-8.1M | $1.4M |
| 毛利率 | 9.3% | — |
| 营业利润率 | -26.1% | 13.1% |
| 净利率 | -19.9% | 2.0% |
| 营收同比 | -20.7% | -1.8% |
| 净利润同比 | 50.4% | -75.2% |
| 每股收益（稀释后） | $-0.23 | — |
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MXRMAX
| Q4 25 | $40.6M | $71.1M | ||
| Q3 25 | $45.9M | $73.2M | ||
| Q2 25 | $47.6M | $72.8M | ||
| Q1 25 | $44.7M | $74.5M | ||
| Q4 24 | $51.2M | $72.5M | ||
| Q3 24 | $55.4M | $78.5M | ||
| Q2 24 | $46.4M | $78.5M | ||
| Q1 24 | $43.4M | $78.3M |
净利润MXRMAX
| Q4 25 | $-8.1M | $1.4M | ||
| Q3 25 | $-13.1M | $4.0M | ||
| Q2 25 | $323.0K | $4.7M | ||
| Q1 25 | $-8.9M | $-2.0M | ||
| Q4 24 | $-16.3M | $5.8M | ||
| Q3 24 | $-9.6M | $966.0K | ||
| Q2 24 | $-13.0M | $3.7M | ||
| Q1 24 | $-15.4M | $-3.4M |
毛利率MXRMAX
| Q4 25 | 9.3% | — | ||
| Q3 25 | 18.6% | — | ||
| Q2 25 | 20.4% | — | ||
| Q1 25 | 20.9% | — | ||
| Q4 24 | 21.7% | — | ||
| Q3 24 | 20.8% | — | ||
| Q2 24 | 21.1% | — | ||
| Q1 24 | 14.6% | — |
营业利润率MXRMAX
| Q4 25 | -26.1% | 13.1% | ||
| Q3 25 | -25.1% | 25.0% | ||
| Q2 25 | -15.6% | 19.3% | ||
| Q1 25 | -14.1% | 7.2% | ||
| Q4 24 | -12.5% | 5.9% | ||
| Q3 24 | -8.1% | 19.4% | ||
| Q2 24 | -12.3% | 20.6% | ||
| Q1 24 | -21.6% | 5.8% |
净利率MXRMAX
| Q4 25 | -19.9% | 2.0% | ||
| Q3 25 | -28.5% | 5.4% | ||
| Q2 25 | 0.7% | 6.4% | ||
| Q1 25 | -19.9% | -2.6% | ||
| Q4 24 | -31.8% | 8.0% | ||
| Q3 24 | -17.3% | 1.2% | ||
| Q2 24 | -28.0% | 4.7% | ||
| Q1 24 | -35.5% | -4.3% |
每股收益（稀释后）MXRMAX
| Q4 25 | $-0.23 | — | ||
| Q3 25 | $-0.36 | — | ||
| Q2 25 | $0.01 | — | ||
| Q1 25 | $-0.24 | — | ||
| Q4 24 | $-0.44 | — | ||
| Q3 24 | $-0.26 | — | ||
| Q2 24 | $-0.34 | — | ||
| Q1 24 | $-0.40 | — |
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 | $103.8M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $248.3M | $452.4M |
| 总资产 | $351.5M | $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MXRMAX
| Q4 25 | $103.8M | $118.7M | ||
| Q3 25 | $108.0M | $107.5M | ||
| Q2 25 | $113.3M | $94.3M | ||
| Q1 25 | $132.7M | $89.1M | ||
| Q4 24 | $138.6M | $96.6M | ||
| Q3 24 | $151.1M | $83.8M | ||
| Q2 24 | $162.5M | $66.1M | ||
| Q1 24 | $171.6M | $82.1M |
总债务MXRMAX
| 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MXRMAX
| Q4 25 | $248.3M | $452.4M | ||
| Q3 25 | $255.3M | $448.1M | ||
| Q2 25 | $270.2M | $442.4M | ||
| Q1 25 | $269.2M | $433.5M | ||
| Q4 24 | $276.8M | $429.5M | ||
| Q3 24 | $299.6M | $423.1M | ||
| Q2 24 | $305.8M | $418.4M | ||
| Q1 24 | $321.9M | $412.0M |
总资产MXRMAX
| Q4 25 | $351.5M | $582.5M | ||
| Q3 25 | $359.6M | $582.2M | ||
| Q2 25 | $370.5M | $574.8M | ||
| Q1 25 | $373.9M | $571.4M | ||
| Q4 24 | $379.3M | $581.6M | ||
| Q3 24 | $411.4M | $578.6M | ||
| Q2 24 | $412.7M | $571.4M | ||
| Q1 24 | $426.2M | $566.7M |
负债/权益比MXRMAX
| 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 | $5.4M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $-4.8M | $33.5M |
| 自由现金流率自由现金流/营收 | -11.9% | 47.1% |
| 资本支出强度资本支出/营收 | 25.3% | 10.4% |
| 现金转化率经营现金流/净利润 | — | 28.39× |
| 过去12个月自由现金流最近4个季度 | $-54.2M | $56.8M |
8季度趋势，按日历期对齐
经营现金流MXRMAX
| Q4 25 | $5.4M | $40.9M | ||
| Q3 25 | $162.0K | $17.7M | ||
| Q2 25 | $-25.1M | $4.6M | ||
| Q1 25 | $-4.7M | $5.7M | ||
| Q4 24 | $11.9M | $59.7M | ||
| Q3 24 | $-12.9M | $17.6M | ||
| Q2 24 | $-1.1M | $15.9M | ||
| Q1 24 | $-4.0M | $9.4M |
自由现金流MXRMAX
| Q4 25 | $-4.8M | $33.5M | ||
| Q3 25 | $-7.5M | $16.4M | ||
| Q2 25 | $-37.0M | $2.9M | ||
| Q1 25 | $-4.9M | $4.0M | ||
| Q4 24 | $4.4M | $53.0M | ||
| Q3 24 | $-15.5M | $16.3M | ||
| Q2 24 | $-2.0M | $14.0M | ||
| Q1 24 | $-4.6M | $6.8M |
自由现金流率MXRMAX
| Q4 25 | -11.9% | 47.1% | ||
| Q3 25 | -16.3% | 22.4% | ||
| Q2 25 | -77.7% | 4.0% | ||
| Q1 25 | -10.9% | 5.3% | ||
| Q4 24 | 8.7% | 73.2% | ||
| Q3 24 | -28.0% | 20.8% | ||
| Q2 24 | -4.3% | 17.8% | ||
| Q1 24 | -10.7% | 8.6% |
资本支出强度MXRMAX
| Q4 25 | 25.3% | 10.4% | ||
| Q3 25 | 16.7% | 1.8% | ||
| Q2 25 | 24.9% | 2.2% | ||
| Q1 25 | 0.5% | 2.3% | ||
| Q4 24 | 14.5% | 9.1% | ||
| Q3 24 | 4.7% | 1.7% | ||
| Q2 24 | 1.9% | 2.4% | ||
| Q1 24 | 1.5% | 3.3% |
现金转化率MXRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | -77.81× | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| 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
MX
| Power Analog Solutions | $36.8M | 91% |
| Power Ic | $3.8M | 9% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
