vs
NCS Multistage Holdings, Inc.（NCSM）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NCS Multistage Holdings, Inc.的1.4倍（$71.1M vs $50.6M），NCS Multistage Holdings, Inc.净利率更高（29.5% vs 2.0%，领先27.5%），NCS Multistage Holdings, Inc.同比增速更快（12.5% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $12.9M），过去两年NCS Multistage Holdings, Inc.的营收复合增速更高（7.4% vs -4.7%）
NCS Multistage Holdings是一家全球能源技术与油田服务提供商，主营油气勘探生产用的完井系统与多级压裂工具，服务覆盖北美、拉美、中东及亚太市场，助力上游能源客户提升作业效率与资源采收率。
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。
NCSM vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.4倍
$50.6M
营收增速更快
NCSM
高出14.3%
-1.8%
净利率更高
NCSM
高出27.5%
2.0%
自由现金流更多
RMAX
多$20.6M
$12.9M
两年增速更快
NCSM
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $50.6M | $71.1M |
| 净利润 | $15.0M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | 10.3% | 13.1% |
| 净利率 | 29.5% | 2.0% |
| 营收同比 | 12.5% | -1.8% |
| 净利润同比 | 331.0% | -75.2% |
| 每股收益（稀释后） | $5.43 | — |
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NCSMRMAX
| Q4 25 | $50.6M | $71.1M | ||
| Q3 25 | $46.5M | $73.2M | ||
| Q2 25 | $36.5M | $72.8M | ||
| Q1 25 | $50.0M | $74.5M | ||
| Q4 24 | $45.0M | $72.5M | ||
| Q3 24 | $44.0M | $78.5M | ||
| Q2 24 | $29.7M | $78.5M | ||
| Q1 24 | $43.9M | $78.3M |
净利润NCSMRMAX
| Q4 25 | $15.0M | $1.4M | ||
| Q3 25 | $3.8M | $4.0M | ||
| Q2 25 | $924.0K | $4.7M | ||
| Q1 25 | $4.1M | $-2.0M | ||
| Q4 24 | $3.5M | $5.8M | ||
| Q3 24 | $4.1M | $966.0K | ||
| Q2 24 | $-3.1M | $3.7M | ||
| Q1 24 | $2.1M | $-3.4M |
营业利润率NCSMRMAX
| Q4 25 | 10.3% | 13.1% | ||
| Q3 25 | 6.6% | 25.0% | ||
| Q2 25 | -5.6% | 19.3% | ||
| Q1 25 | 8.6% | 7.2% | ||
| Q4 24 | 6.5% | 5.9% | ||
| Q3 24 | 6.9% | 19.4% | ||
| Q2 24 | -14.0% | 20.6% | ||
| Q1 24 | 5.7% | 5.8% |
净利率NCSMRMAX
| Q4 25 | 29.5% | 2.0% | ||
| Q3 25 | 8.2% | 5.4% | ||
| Q2 25 | 2.5% | 6.4% | ||
| Q1 25 | 8.1% | -2.6% | ||
| Q4 24 | 7.7% | 8.0% | ||
| Q3 24 | 9.4% | 1.2% | ||
| Q2 24 | -10.4% | 4.7% | ||
| Q1 24 | 4.7% | -4.3% |
每股收益（稀释后）NCSMRMAX
| Q4 25 | $5.43 | — | ||
| Q3 25 | $1.37 | — | ||
| Q2 25 | $0.34 | — | ||
| Q1 25 | $1.51 | — | ||
| Q4 24 | $1.34 | — | ||
| Q3 24 | $1.60 | — | ||
| Q2 24 | $-1.21 | — | ||
| Q1 24 | $0.82 | — |
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 | $36.7M | $118.7M |
| 总债务越低越好 | $5.3M | $432.2M |
| 股东权益账面价值 | $126.2M | $452.4M |
| 总资产 | $181.2M | $582.5M |
| 负债/权益比越低杠杆越低 | 0.04× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资NCSMRMAX
| Q4 25 | $36.7M | $118.7M | ||
| Q3 25 | $25.3M | $107.5M | ||
| Q2 25 | $25.4M | $94.3M | ||
| Q1 25 | $23.0M | $89.1M | ||
| Q4 24 | $25.9M | $96.6M | ||
| Q3 24 | $15.3M | $83.8M | ||
| Q2 24 | $18.6M | $66.1M | ||
| Q1 24 | $14.0M | $82.1M |
总债务NCSMRMAX
| Q4 25 | $5.3M | $432.2M | ||
| Q3 25 | $5.1M | $433.3M | ||
| Q2 25 | $5.5M | $434.4M | ||
| Q1 25 | $5.4M | $435.3M | ||
| Q4 24 | $6.0M | $436.2M | ||
| Q3 24 | $6.5M | $437.2M | ||
| Q2 24 | $6.8M | $438.1M | ||
| Q1 24 | $6.4M | $439.0M |
股东权益NCSMRMAX
| Q4 25 | $126.2M | $452.4M | ||
| Q3 25 | $110.1M | $448.1M | ||
| Q2 25 | $106.4M | $442.4M | ||
| Q1 25 | $103.2M | $433.5M | ||
| Q4 24 | $98.8M | $429.5M | ||
| Q3 24 | $96.0M | $423.1M | ||
| Q2 24 | $91.0M | $418.4M | ||
| Q1 24 | $93.7M | $412.0M |
总资产NCSMRMAX
| Q4 25 | $181.2M | $582.5M | ||
| Q3 25 | $162.0M | $582.2M | ||
| Q2 25 | $158.0M | $574.8M | ||
| Q1 25 | $155.1M | $571.4M | ||
| Q4 24 | $152.8M | $581.6M | ||
| Q3 24 | $145.8M | $578.6M | ||
| Q2 24 | $139.4M | $571.4M | ||
| Q1 24 | $140.9M | $566.7M |
负债/权益比NCSMRMAX
| Q4 25 | 0.04× | 0.96× | ||
| Q3 25 | 0.05× | 0.97× | ||
| Q2 25 | 0.05× | 0.98× | ||
| Q1 25 | 0.05× | 1.00× | ||
| Q4 24 | 0.06× | 1.02× | ||
| Q3 24 | 0.07× | 1.03× | ||
| Q2 24 | 0.08× | 1.05× | ||
| Q1 24 | 0.07× | 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 | $13.1M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $12.9M | $33.5M |
| 自由现金流率自由现金流/营收 | 25.5% | 47.1% |
| 资本支出强度资本支出/营收 | 0.4% | 10.4% |
| 现金转化率经营现金流/净利润 | 0.88× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $21.0M | $56.8M |
8季度趋势，按日历期对齐
经营现金流NCSMRMAX
| Q4 25 | $13.1M | $40.9M | ||
| Q3 25 | $7.2M | $17.7M | ||
| Q2 25 | $3.5M | $4.6M | ||
| Q1 25 | $-1.6M | $5.7M | ||
| Q4 24 | $10.6M | $59.7M | ||
| Q3 24 | $-2.0M | $17.6M | ||
| Q2 24 | $6.0M | $15.9M | ||
| Q1 24 | $-1.9M | $9.4M |
自由现金流NCSMRMAX
| Q4 25 | $12.9M | $33.5M | ||
| Q3 25 | $6.9M | $16.4M | ||
| Q2 25 | $3.2M | $2.9M | ||
| Q1 25 | $-2.1M | $4.0M | ||
| Q4 24 | $10.4M | $53.0M | ||
| Q3 24 | $-2.5M | $16.3M | ||
| Q2 24 | $5.6M | $14.0M | ||
| Q1 24 | $-2.2M | $6.8M |
自由现金流率NCSMRMAX
| Q4 25 | 25.5% | 47.1% | ||
| Q3 25 | 14.9% | 22.4% | ||
| Q2 25 | 8.9% | 4.0% | ||
| Q1 25 | -4.2% | 5.3% | ||
| Q4 24 | 23.1% | 73.2% | ||
| Q3 24 | -5.6% | 20.8% | ||
| Q2 24 | 19.0% | 17.8% | ||
| Q1 24 | -5.0% | 8.6% |
资本支出强度NCSMRMAX
| Q4 25 | 0.4% | 10.4% | ||
| Q3 25 | 0.5% | 1.8% | ||
| Q2 25 | 0.8% | 2.2% | ||
| Q1 25 | 0.9% | 2.3% | ||
| Q4 24 | 0.5% | 9.1% | ||
| Q3 24 | 1.0% | 1.7% | ||
| Q2 24 | 1.1% | 2.4% | ||
| Q1 24 | 0.7% | 3.3% |
现金转化率NCSMRMAX
| Q4 25 | 0.88× | 28.39× | ||
| Q3 25 | 1.88× | 4.45× | ||
| Q2 25 | 3.81× | 0.97× | ||
| Q1 25 | -0.41× | — | ||
| Q4 24 | 3.07× | 10.28× | ||
| Q3 24 | -0.49× | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| Q1 24 | -0.91× | — |
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
NCSM
| Products | $33.8M | 67% |
| Services | $16.8M | 33% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
