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NEWMARK GROUP, INC.（NMRK）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
NEWMARK GROUP, INC.的季度营收约是RE/MAX Holdings, Inc.的12.1倍（$859.5M vs $71.1M）。NEWMARK GROUP, INC.净利率更高（7.9% vs 2.0%，领先5.9%）。NEWMARK GROUP, INC.同比增速更快（18.1% vs -1.8%）。NEWMARK GROUP, INC.自由现金流更多（$608.8M vs $10.2M）。过去两年NEWMARK GROUP, INC.的营收复合增速更高（38.2% vs -4.7%）
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。
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。
NMRK vs RMAX — 直观对比
营收规模更大
NMRK
是对方的12.1倍
$71.1M
营收增速更快
NMRK
高出20.0%
-1.8%
净利率更高
NMRK
高出5.9%
2.0%
自由现金流更多
NMRK
多$598.7M
$10.2M
两年增速更快
NMRK
近两年复合增速
-4.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $859.5M | $71.1M |
| 净利润 | $68.0M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | 14.4% | 13.1% |
| 净利率 | 7.9% | 2.0% |
| 营收同比 | 18.1% | -1.8% |
| 净利润同比 | 49.7% | -75.2% |
| 每股收益（稀释后） | $0.37 | — |
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NMRKRMAX
| Q4 25 | $859.5M | $71.1M | ||
| Q3 25 | $715.0M | $73.2M | ||
| Q2 25 | $639.6M | $72.8M | ||
| Q1 25 | $556.2M | $74.5M | ||
| Q4 24 | $727.5M | $72.5M | ||
| Q3 24 | $568.0M | $78.5M | ||
| Q2 24 | $527.3M | $78.5M | ||
| Q1 24 | $450.2M | $78.3M |
净利润NMRKRMAX
| Q4 25 | $68.0M | $1.4M | ||
| Q3 25 | $46.2M | $4.0M | ||
| Q2 25 | $20.8M | $4.7M | ||
| Q1 25 | $-8.8M | $-2.0M | ||
| Q4 24 | $45.4M | $5.8M | ||
| Q3 24 | $17.8M | $966.0K | ||
| Q2 24 | $14.3M | $3.7M | ||
| Q1 24 | $-16.3M | $-3.4M |
营业利润率NMRKRMAX
| Q4 25 | 14.4% | 13.1% | ||
| Q3 25 | 11.9% | 25.0% | ||
| Q2 25 | 6.7% | 19.3% | ||
| Q1 25 | -3.1% | 7.2% | ||
| Q4 24 | 14.3% | 5.9% | ||
| Q3 24 | 7.2% | 19.4% | ||
| Q2 24 | 7.7% | 20.6% | ||
| Q1 24 | -5.0% | 5.8% |
净利率NMRKRMAX
| Q4 25 | 7.9% | 2.0% | ||
| Q3 25 | 6.5% | 5.4% | ||
| Q2 25 | 3.3% | 6.4% | ||
| Q1 25 | -1.6% | -2.6% | ||
| Q4 24 | 6.2% | 8.0% | ||
| Q3 24 | 3.1% | 1.2% | ||
| Q2 24 | 2.7% | 4.7% | ||
| Q1 24 | -3.6% | -4.3% |
每股收益（稀释后）NMRKRMAX
| Q4 25 | $0.37 | — | ||
| Q3 25 | $0.25 | — | ||
| Q2 25 | $0.11 | — | ||
| Q1 25 | $-0.05 | — | ||
| Q4 24 | $0.25 | — | ||
| Q3 24 | $0.10 | — | ||
| Q2 24 | $0.08 | — | ||
| Q1 24 | $-0.09 | — |
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 | $118.7M |
| 总债务越低越好 | $671.7M | — |
| 股东权益账面价值 | $1.5B | $452.4M |
| 总资产 | $5.0B | $582.5M |
| 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NMRKRMAX
| Q4 25 | $229.1M | $118.7M | ||
| Q3 25 | $224.1M | $107.5M | ||
| Q2 25 | $195.8M | $94.3M | ||
| Q1 25 | $157.1M | $89.1M | ||
| Q4 24 | $197.7M | $96.6M | ||
| Q3 24 | $178.6M | $83.8M | ||
| Q2 24 | $176.4M | $66.1M | ||
| Q1 24 | $140.9M | $82.1M |
总债务NMRKRMAX
| 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NMRKRMAX
| Q4 25 | $1.5B | $452.4M | ||
| Q3 25 | $1.4B | $448.1M | ||
| Q2 25 | $1.3B | $442.4M | ||
| Q1 25 | $1.3B | $433.5M | ||
| Q4 24 | $1.2B | $429.5M | ||
| Q3 24 | $1.2B | $423.1M | ||
| Q2 24 | $1.2B | $418.4M | ||
| Q1 24 | $1.2B | $412.0M |
总资产NMRKRMAX
| Q4 25 | $5.0B | $582.5M | ||
| Q3 25 | $5.5B | $582.2M | ||
| Q2 25 | $5.4B | $574.8M | ||
| Q1 25 | $4.8B | $571.4M | ||
| Q4 24 | $4.7B | $581.6M | ||
| Q3 24 | $5.0B | $578.6M | ||
| Q2 24 | $4.8B | $571.4M | ||
| Q1 24 | $4.4B | $566.7M |
负债/权益比NMRKRMAX
| 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 | $12.9M |
| 自由现金流经营现金流 - 资本支出 | $608.8M | $10.2M |
| 自由现金流率自由现金流/营收 | 70.8% | 14.3% |
| 资本支出强度资本支出/营收 | 1.1% | 3.9% |
| 现金转化率经营现金流/净利润 | 9.10× | 8.97× |
| 过去12个月自由现金流最近4个季度 | $142.6M | $33.5M |
8季度趋势，按日历期对齐
经营现金流NMRKRMAX
| Q4 25 | $618.5M | $12.9M | ||
| Q3 25 | $112.6M | $17.7M | ||
| Q2 25 | $-379.7M | $4.6M | ||
| Q1 25 | $-179.4M | $5.7M | ||
| Q4 24 | $402.6M | $16.8M | ||
| Q3 24 | $-85.2M | $17.6M | ||
| Q2 24 | $-258.5M | $15.9M | ||
| Q1 24 | $-68.8M | $9.4M |
自由现金流NMRKRMAX
| Q4 25 | $608.8M | $10.2M | ||
| Q3 25 | $104.9M | $16.4M | ||
| Q2 25 | $-386.2M | $2.9M | ||
| Q1 25 | $-184.8M | $4.0M | ||
| Q4 24 | $396.6M | $16.0M | ||
| Q3 24 | $-94.4M | $16.3M | ||
| Q2 24 | $-267.8M | $14.0M | ||
| Q1 24 | $-75.8M | $6.8M |
自由现金流率NMRKRMAX
| Q4 25 | 70.8% | 14.3% | ||
| Q3 25 | 14.7% | 22.4% | ||
| Q2 25 | -60.4% | 4.0% | ||
| Q1 25 | -33.2% | 5.3% | ||
| Q4 24 | 54.5% | 22.1% | ||
| Q3 24 | -16.6% | 20.8% | ||
| Q2 24 | -50.8% | 17.8% | ||
| Q1 24 | -16.8% | 8.6% |
资本支出强度NMRKRMAX
| Q4 25 | 1.1% | 3.9% | ||
| Q3 25 | 1.1% | 1.8% | ||
| Q2 25 | 1.0% | 2.2% | ||
| Q1 25 | 1.0% | 2.3% | ||
| Q4 24 | 0.8% | 1.1% | ||
| Q3 24 | 1.6% | 1.7% | ||
| Q2 24 | 1.8% | 2.4% | ||
| Q1 24 | 1.6% | 3.3% |
现金转化率NMRKRMAX
| Q4 25 | 9.10× | 8.97× | ||
| Q3 25 | 2.44× | 4.45× | ||
| Q2 25 | -18.24× | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | 8.86× | 2.89× | ||
| Q3 24 | -4.79× | 18.22× | ||
| Q2 24 | -18.10× | 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
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% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
