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NEWMARK GROUP, INC.（NMRK）与Opendoor Technologies Inc.（OPEN）财务数据对比。点击上方公司名可切换其他公司
NEWMARK GROUP, INC.的季度营收约是Opendoor Technologies Inc.的1.2倍（$859.5M vs $736.0M）。NEWMARK GROUP, INC.净利率更高（7.9% vs -148.9%，领先156.8%）。NEWMARK GROUP, INC.同比增速更快（18.1% vs -32.1%）。NEWMARK GROUP, INC.自由现金流更多（$608.8M vs $67.0M）。过去两年NEWMARK GROUP, INC.的营收复合增速更高（38.2% vs -21.1%）
纽马克集团是一家总部位于纽约的全球性商业地产咨询及服务企业，旗下业务以Newmark品牌开展，在纳斯达克全球精选市场上市，股票代码为NMRK，为全球客户提供商业地产领域的多元专业服务。
Opendoor Technologies Inc.是一家主营住宅房地产买卖的线上企业，总部位于旧金山。平台可通过线上流程向房主提供房屋即时现金报价，收购房产后进行修缮再重新挂牌出售，同时还提供基于移动端应用的购房服务及配套融资方案，截至2021年11月业务覆盖美国44个区域市场。
NMRK vs OPEN — 直观对比
营收规模更大
NMRK
是对方的1.2倍
$736.0M
营收增速更快
NMRK
高出50.2%
-32.1%
净利率更高
NMRK
高出156.8%
-148.9%
自由现金流更多
NMRK
多$541.8M
$67.0M
两年增速更快
NMRK
近两年复合增速
-21.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $859.5M | $736.0M |
| 净利润 | $68.0M | $-1.1B |
| 毛利率 | — | 7.7% |
| 营业利润率 | 14.4% | -20.4% |
| 净利率 | 7.9% | -148.9% |
| 营收同比 | 18.1% | -32.1% |
| 净利润同比 | 49.7% | -869.9% |
| 每股收益（稀释后） | $0.37 | $-1.42 |
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NMRKOPEN
| Q4 25 | $859.5M | $736.0M | ||
| Q3 25 | $715.0M | $915.0M | ||
| Q2 25 | $639.6M | $1.6B | ||
| Q1 25 | $556.2M | $1.2B | ||
| Q4 24 | $727.5M | $1.1B | ||
| Q3 24 | $568.0M | $1.4B | ||
| Q2 24 | $527.3M | $1.5B | ||
| Q1 24 | $450.2M | $1.2B |
净利润NMRKOPEN
| Q4 25 | $68.0M | $-1.1B | ||
| Q3 25 | $46.2M | $-90.0M | ||
| Q2 25 | $20.8M | $-29.0M | ||
| Q1 25 | $-8.8M | $-85.0M | ||
| Q4 24 | $45.4M | $-113.0M | ||
| Q3 24 | $17.8M | $-78.0M | ||
| Q2 24 | $14.3M | $-92.0M | ||
| Q1 24 | $-16.3M | $-109.0M |
毛利率NMRKOPEN
| Q4 25 | — | 7.7% | ||
| Q3 25 | — | 7.2% | ||
| Q2 25 | — | 8.2% | ||
| Q1 25 | — | 8.6% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 7.6% | ||
| Q2 24 | — | 8.5% | ||
| Q1 24 | — | 9.7% |
营业利润率NMRKOPEN
| Q4 25 | 14.4% | -20.4% | ||
| Q3 25 | 11.9% | -7.4% | ||
| Q2 25 | 6.7% | -0.8% | ||
| Q1 25 | -3.1% | -4.9% | ||
| Q4 24 | 14.3% | -8.7% | ||
| Q3 24 | 7.2% | -4.9% | ||
| Q2 24 | 7.7% | -4.8% | ||
| Q1 24 | -5.0% | -7.4% |
净利率NMRKOPEN
| Q4 25 | 7.9% | -148.9% | ||
| Q3 25 | 6.5% | -9.8% | ||
| Q2 25 | 3.3% | -1.9% | ||
| Q1 25 | -1.6% | -7.4% | ||
| Q4 24 | 6.2% | -10.4% | ||
| Q3 24 | 3.1% | -5.7% | ||
| Q2 24 | 2.7% | -6.1% | ||
| Q1 24 | -3.6% | -9.2% |
每股收益（稀释后）NMRKOPEN
| Q4 25 | $0.37 | $-1.42 | ||
| Q3 25 | $0.25 | $-0.12 | ||
| Q2 25 | $0.11 | $-0.04 | ||
| Q1 25 | $-0.05 | $-0.12 | ||
| Q4 24 | $0.25 | $-0.16 | ||
| Q3 24 | $0.10 | $-0.11 | ||
| Q2 24 | $0.08 | $-0.13 | ||
| Q1 24 | $-0.09 | $-0.16 |
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 | $229.1M | $962.0M |
| 总债务越低越好 | $671.7M | — |
| 股东权益账面价值 | $1.5B | $1.0B |
| 总资产 | $5.0B | $2.4B |
| 负债/权益比越低杠杆越低 | 0.46× | — |
8季度趋势，按日历期对齐
现金及短期投资NMRKOPEN
| Q4 25 | $229.1M | $962.0M | ||
| Q3 25 | $224.1M | $962.0M | ||
| Q2 25 | $195.8M | $789.0M | ||
| Q1 25 | $157.1M | $559.0M | ||
| Q4 24 | $197.7M | $679.0M | ||
| Q3 24 | $178.6M | $837.0M | ||
| Q2 24 | $176.4M | $809.0M | ||
| Q1 24 | $140.9M | $990.0M |
总债务NMRKOPEN
| Q4 25 | $671.7M | — | ||
| Q3 25 | $746.5M | — | ||
| Q2 25 | $871.2M | — | ||
| Q1 25 | $770.9M | — | ||
| Q4 24 | $670.7M | — | ||
| Q3 24 | $770.4M | — | ||
| Q2 24 | $745.2M | — | ||
| Q1 24 | $670.2M | — |
股东权益NMRKOPEN
| Q4 25 | $1.5B | $1.0B | ||
| Q3 25 | $1.4B | $811.0M | ||
| Q2 25 | $1.3B | $631.0M | ||
| Q1 25 | $1.3B | $645.0M | ||
| Q4 24 | $1.2B | $713.0M | ||
| Q3 24 | $1.2B | $801.0M | ||
| Q2 24 | $1.2B | $845.0M | ||
| Q1 24 | $1.2B | $899.0M |
总资产NMRKOPEN
| Q4 25 | $5.0B | $2.4B | ||
| Q3 25 | $5.5B | $2.7B | ||
| Q2 25 | $5.4B | $2.9B | ||
| Q1 25 | $4.8B | $3.3B | ||
| Q4 24 | $4.7B | $3.1B | ||
| Q3 24 | $5.0B | $3.4B | ||
| Q2 24 | $4.8B | $3.4B | ||
| Q1 24 | $4.4B | $3.4B |
负债/权益比NMRKOPEN
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.68× | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | 0.56× | — | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.62× | — | ||
| Q1 24 | 0.54× | — |
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 | $618.5M | $70.0M |
| 自由现金流经营现金流 - 资本支出 | $608.8M | $67.0M |
| 自由现金流率自由现金流/营收 | 70.8% | 9.1% |
| 资本支出强度资本支出/营收 | 1.1% | 0.4% |
| 现金转化率经营现金流/净利润 | 9.10× | — |
| 过去12个月自由现金流最近4个季度 | $142.6M | $1.0B |
8季度趋势，按日历期对齐
经营现金流NMRKOPEN
| Q4 25 | $618.5M | $70.0M | ||
| Q3 25 | $112.6M | $435.0M | ||
| Q2 25 | $-379.7M | $823.0M | ||
| Q1 25 | $-179.4M | $-279.0M | ||
| Q4 24 | $402.6M | $-80.0M | ||
| Q3 24 | $-85.2M | $62.0M | ||
| Q2 24 | $-258.5M | $-399.0M | ||
| Q1 24 | $-68.8M | $-178.0M |
自由现金流NMRKOPEN
| Q4 25 | $608.8M | $67.0M | ||
| Q3 25 | $104.9M | $432.0M | ||
| Q2 25 | $-386.2M | $821.0M | ||
| Q1 25 | $-184.8M | $-283.0M | ||
| Q4 24 | $396.6M | $-83.0M | ||
| Q3 24 | $-94.4M | $56.0M | ||
| Q2 24 | $-267.8M | $-407.0M | ||
| Q1 24 | $-75.8M | $-186.0M |
自由现金流率NMRKOPEN
| Q4 25 | 70.8% | 9.1% | ||
| Q3 25 | 14.7% | 47.2% | ||
| Q2 25 | -60.4% | 52.4% | ||
| Q1 25 | -33.2% | -24.5% | ||
| Q4 24 | 54.5% | -7.7% | ||
| Q3 24 | -16.6% | 4.1% | ||
| Q2 24 | -50.8% | -26.9% | ||
| Q1 24 | -16.8% | -15.7% |
资本支出强度NMRKOPEN
| Q4 25 | 1.1% | 0.4% | ||
| Q3 25 | 1.1% | 0.3% | ||
| Q2 25 | 1.0% | 0.1% | ||
| Q1 25 | 1.0% | 0.3% | ||
| Q4 24 | 0.8% | 0.3% | ||
| Q3 24 | 1.6% | 0.4% | ||
| Q2 24 | 1.8% | 0.5% | ||
| Q1 24 | 1.6% | 0.7% |
现金转化率NMRKOPEN
| Q4 25 | 9.10× | — | ||
| Q3 25 | 2.44× | — | ||
| Q2 25 | -18.24× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 8.86× | — | ||
| Q3 24 | -4.79× | — | ||
| Q2 24 | -18.10× | — | ||
| 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
NMRK
| Management Services | $263.1M | 31% |
| Investment Advice | $200.1M | 23% |
| Mortgage Brokerage And Debt Placement | $83.1M | 10% |
| Servicing Fees And Other | $80.7M | 9% |
| GB | $69.0M | 8% |
| Other Geographical Areas | $63.6M | 7% |
| Servicing | $36.2M | 4% |
| Other | $34.2M | 4% |
| Loan Originations Related Fees And Sales Premiums Net | $29.6M | 3% |
OPEN
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