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自然阳光（NATR）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
自然阳光的季度营收约是RE/MAX Holdings, Inc.的1.7倍（$123.8M vs $71.1M），自然阳光净利率更高（3.3% vs 2.0%，领先1.3%），自然阳光同比增速更快（4.7% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $7.6M），过去两年自然阳光的营收复合增速更高（5.6% vs -4.7%）
自然阳光产品公司（简称NSP）主营膳食补充剂与个人护理产品的生产制造，产品涵盖草本补充剂、维生素、矿物质制剂等品类。公司总部设于犹他州利希，生产工厂位于犹他州西班牙福克，是该领域知名的健康产品生产商。
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。
NATR vs RMAX — 直观对比
营收规模更大
NATR
是对方的1.7倍
$71.1M
营收增速更快
NATR
高出6.6%
-1.8%
净利率更高
NATR
高出1.3%
2.0%
自由现金流更多
RMAX
多$25.9M
$7.6M
两年增速更快
NATR
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $123.8M | $71.1M |
| 净利润 | $4.1M | $1.4M |
| 毛利率 | 72.5% | — |
| 营业利润率 | 4.3% | 13.1% |
| 净利率 | 3.3% | 2.0% |
| 营收同比 | 4.7% | -1.8% |
| 净利润同比 | 1379.4% | -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NATRRMAX
| Q4 25 | $123.8M | $71.1M | ||
| Q3 25 | $128.3M | $73.2M | ||
| Q2 25 | $114.8M | $72.8M | ||
| Q1 25 | $113.2M | $74.5M | ||
| Q4 24 | $118.2M | $72.5M | ||
| Q3 24 | $114.6M | $78.5M | ||
| Q2 24 | $110.6M | $78.5M | ||
| Q1 24 | $111.0M | $78.3M |
净利润NATRRMAX
| Q4 25 | $4.1M | $1.4M | ||
| Q3 25 | $5.3M | $4.0M | ||
| Q2 25 | $5.3M | $4.7M | ||
| Q1 25 | $4.7M | $-2.0M | ||
| Q4 24 | $-321.0K | $5.8M | ||
| Q3 24 | $4.3M | $966.0K | ||
| Q2 24 | $1.3M | $3.7M | ||
| Q1 24 | $2.3M | $-3.4M |
毛利率NATRRMAX
| Q4 25 | 72.5% | — | ||
| Q3 25 | 73.3% | — | ||
| Q2 25 | 71.7% | — | ||
| Q1 25 | 72.1% | — | ||
| Q4 24 | 72.0% | — | ||
| Q3 24 | 71.3% | — | ||
| Q2 24 | 71.4% | — | ||
| Q1 24 | 71.2% | — |
营业利润率NATRRMAX
| Q4 25 | 4.3% | 13.1% | ||
| Q3 25 | 7.0% | 25.0% | ||
| Q2 25 | 3.7% | 19.3% | ||
| Q1 25 | 5.4% | 7.2% | ||
| Q4 24 | 3.8% | 5.9% | ||
| Q3 24 | 4.6% | 19.4% | ||
| Q2 24 | 5.1% | 20.6% | ||
| Q1 24 | 4.2% | 5.8% |
净利率NATRRMAX
| Q4 25 | 3.3% | 2.0% | ||
| Q3 25 | 4.2% | 5.4% | ||
| Q2 25 | 4.6% | 6.4% | ||
| Q1 25 | 4.2% | -2.6% | ||
| Q4 24 | -0.3% | 8.0% | ||
| Q3 24 | 3.8% | 1.2% | ||
| Q2 24 | 1.2% | 4.7% | ||
| Q1 24 | 2.1% | -4.3% |
每股收益（稀释后）NATRRMAX
| Q4 25 | $0.23 | — | ||
| Q3 25 | $0.30 | — | ||
| Q2 25 | $0.28 | — | ||
| Q1 25 | $0.25 | — | ||
| Q4 24 | $-0.02 | — | ||
| Q3 24 | $0.23 | — | ||
| Q2 24 | $0.07 | — | ||
| Q1 24 | $0.12 | — |
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 | $93.9M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $161.6M | $452.4M |
| 总资产 | $261.1M | $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NATRRMAX
| Q4 25 | $93.9M | $118.7M | ||
| Q3 25 | $95.6M | $107.5M | ||
| Q2 25 | $81.3M | $94.3M | ||
| Q1 25 | $86.5M | $89.1M | ||
| Q4 24 | $84.7M | $96.6M | ||
| Q3 24 | $78.7M | $83.8M | ||
| Q2 24 | $68.7M | $66.1M | ||
| Q1 24 | $77.8M | $82.1M |
总债务NATRRMAX
| 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 | $2.1M | $439.0M |
股东权益NATRRMAX
| Q4 25 | $161.6M | $452.4M | ||
| Q3 25 | $166.7M | $448.1M | ||
| Q2 25 | $163.7M | $442.4M | ||
| Q1 25 | $167.1M | $433.5M | ||
| Q4 24 | $161.0M | $429.5M | ||
| Q3 24 | $162.6M | $423.1M | ||
| Q2 24 | $156.4M | $418.4M | ||
| Q1 24 | $159.7M | $412.0M |
总资产NATRRMAX
| Q4 25 | $261.1M | $582.5M | ||
| Q3 25 | $264.8M | $582.2M | ||
| Q2 25 | $254.9M | $574.8M | ||
| Q1 25 | $252.7M | $571.4M | ||
| Q4 24 | $240.9M | $581.6M | ||
| Q3 24 | $245.3M | $578.6M | ||
| Q2 24 | $235.8M | $571.4M | ||
| Q1 24 | $247.3M | $566.7M |
负债/权益比NATRRMAX
| 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 | 0.01× | 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 | $9.9M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $7.6M | $33.5M |
| 自由现金流率自由现金流/营收 | 6.1% | 47.1% |
| 资本支出强度资本支出/营收 | 1.9% | 10.4% |
| 现金转化率经营现金流/净利润 | 2.41× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $28.8M | $56.8M |
8季度趋势，按日历期对齐
经营现金流NATRRMAX
| Q4 25 | $9.9M | $40.9M | ||
| Q3 25 | $18.5M | $17.7M | ||
| Q2 25 | $4.3M | $4.6M | ||
| Q1 25 | $2.6M | $5.7M | ||
| Q4 24 | $12.2M | $59.7M | ||
| Q3 24 | $9.6M | $17.6M | ||
| Q2 24 | $1.3M | $15.9M | ||
| Q1 24 | $2.2M | $9.4M |
自由现金流NATRRMAX
| Q4 25 | $7.6M | $33.5M | ||
| Q3 25 | $16.8M | $16.4M | ||
| Q2 25 | $3.0M | $2.9M | ||
| Q1 25 | $1.5M | $4.0M | ||
| Q4 24 | $10.0M | $53.0M | ||
| Q3 24 | $7.9M | $16.3M | ||
| Q2 24 | $-2.0M | $14.0M | ||
| Q1 24 | $-1.5M | $6.8M |
自由现金流率NATRRMAX
| Q4 25 | 6.1% | 47.1% | ||
| Q3 25 | 13.1% | 22.4% | ||
| Q2 25 | 2.6% | 4.0% | ||
| Q1 25 | 1.3% | 5.3% | ||
| Q4 24 | 8.5% | 73.2% | ||
| Q3 24 | 6.9% | 20.8% | ||
| Q2 24 | -1.9% | 17.8% | ||
| Q1 24 | -1.4% | 8.6% |
资本支出强度NATRRMAX
| Q4 25 | 1.9% | 10.4% | ||
| Q3 25 | 1.3% | 1.8% | ||
| Q2 25 | 1.2% | 2.2% | ||
| Q1 25 | 1.0% | 2.3% | ||
| Q4 24 | 1.9% | 9.1% | ||
| Q3 24 | 1.5% | 1.7% | ||
| Q2 24 | 3.0% | 2.4% | ||
| Q1 24 | 3.3% | 3.3% |
现金转化率NATRRMAX
| Q4 25 | 2.41× | 28.39× | ||
| Q3 25 | 3.46× | 4.45× | ||
| Q2 25 | 0.81× | 0.97× | ||
| Q1 25 | 0.55× | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | 2.21× | 18.22× | ||
| Q2 24 | 0.97× | 4.29× | ||
| Q1 24 | 0.94× | — |
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
NATR
| Other | $68.1M | 55% |
| General Health Products | $20.2M | 16% |
| Digestive Products | $13.8M | 11% |
| Cardiovascular Products | $12.1M | 10% |
| Personal Care Products | $4.4M | 4% |
| Immunity Products | $3.1M | 3% |
| Weight Management Products | $2.1M | 2% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
