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PAR TECHNOLOGY CORP（PAR）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
PAR TECHNOLOGY CORP的季度营收约是RE/MAX Holdings, Inc.的1.7倍（$120.1M vs $71.1M），PAR TECHNOLOGY CORP同比增速更快（14.4% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $-12.5M），过去两年PAR TECHNOLOGY CORP的营收复合增速更高（30.9% vs -4.7%）
PAR科技公司是全球领先的销售点系统、餐饮酒店管理软件及集成技术解决方案提供商，核心业务覆盖餐饮服务、酒店文旅及政府安防领域，为各类规模客户提供云端工具以简化运营、提升消费体验与经营效率。
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。
PAR vs RMAX — 直观对比
营收规模更大
PAR
是对方的1.7倍
$71.1M
营收增速更快
PAR
高出16.2%
-1.8%
自由现金流更多
RMAX
多$46.0M
$-12.5M
两年增速更快
PAR
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $120.1M | $71.1M |
| 净利润 | — | $1.4M |
| 毛利率 | 41.2% | — |
| 营业利润率 | -15.0% | 13.1% |
| 净利率 | — | 2.0% |
| 营收同比 | 14.4% | -1.8% |
| 净利润同比 | — | -75.2% |
| 每股收益（稀释后） | $-0.52 | — |
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PARRMAX
| Q4 25 | $120.1M | $71.1M | ||
| Q3 25 | $119.2M | $73.2M | ||
| Q2 25 | $112.4M | $72.8M | ||
| Q1 25 | $103.9M | $74.5M | ||
| Q4 24 | $105.0M | $72.5M | ||
| Q3 24 | $96.8M | $78.5M | ||
| Q2 24 | $78.2M | $78.5M | ||
| Q1 24 | $70.1M | $78.3M |
净利润PARRMAX
| Q4 25 | — | $1.4M | ||
| Q3 25 | $-18.2M | $4.0M | ||
| Q2 25 | $-21.0M | $4.7M | ||
| Q1 25 | $-24.4M | $-2.0M | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | $-19.8M | $966.0K | ||
| Q2 24 | $54.2M | $3.7M | ||
| Q1 24 | $-18.3M | $-3.4M |
毛利率PARRMAX
| Q4 25 | 41.2% | — | ||
| Q3 25 | 41.3% | — | ||
| Q2 25 | 45.4% | — | ||
| Q1 25 | 46.5% | — | ||
| Q4 24 | 42.9% | — | ||
| Q3 24 | 44.5% | — | ||
| Q2 24 | 41.0% | — | ||
| Q1 24 | 37.2% | — |
营业利润率PARRMAX
| Q4 25 | -15.0% | 13.1% | ||
| Q3 25 | -14.8% | 25.0% | ||
| Q2 25 | -15.4% | 19.3% | ||
| Q1 25 | -15.2% | 7.2% | ||
| Q4 24 | -15.6% | 5.9% | ||
| Q3 24 | -15.7% | 19.4% | ||
| Q2 24 | -26.5% | 20.6% | ||
| Q1 24 | -38.2% | 5.8% |
净利率PARRMAX
| Q4 25 | — | 2.0% | ||
| Q3 25 | -15.3% | 5.4% | ||
| Q2 25 | -18.7% | 6.4% | ||
| Q1 25 | -23.4% | -2.6% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | -20.5% | 1.2% | ||
| Q2 24 | 69.3% | 4.7% | ||
| Q1 24 | -26.1% | -4.3% |
每股收益（稀释后）PARRMAX
| Q4 25 | $-0.52 | — | ||
| Q3 25 | $-0.45 | — | ||
| Q2 25 | $-0.52 | — | ||
| Q1 25 | $-0.60 | — | ||
| Q4 24 | $-0.56 | — | ||
| Q3 24 | $-0.56 | — | ||
| Q2 24 | $1.60 | — | ||
| Q1 24 | $-0.62 | — |
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 | $80.1M | $118.7M |
| 总债务越低越好 | $394.0M | $432.2M |
| 股东权益账面价值 | $825.1M | $452.4M |
| 总资产 | $1.4B | $582.5M |
| 负债/权益比越低杠杆越低 | 0.48× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资PARRMAX
| Q4 25 | $80.1M | $118.7M | ||
| Q3 25 | $93.0M | $107.5M | ||
| Q2 25 | $85.7M | $94.3M | ||
| Q1 25 | $92.2M | $89.1M | ||
| Q4 24 | $108.6M | $96.6M | ||
| Q3 24 | $118.4M | $83.8M | ||
| Q2 24 | $142.5M | $66.1M | ||
| Q1 24 | $72.5M | $82.1M |
总债务PARRMAX
| Q4 25 | $394.0M | $432.2M | ||
| Q3 25 | $393.4M | $433.3M | ||
| Q2 25 | $392.8M | $434.4M | ||
| Q1 25 | $392.3M | $435.3M | ||
| Q4 24 | $368.4M | $436.2M | ||
| Q3 24 | $466.7M | $437.2M | ||
| Q2 24 | $378.7M | $438.1M | ||
| Q1 24 | $378.2M | $439.0M |
股东权益PARRMAX
| Q4 25 | $825.1M | $452.4M | ||
| Q3 25 | $838.0M | $448.1M | ||
| Q2 25 | $859.1M | $442.4M | ||
| Q1 25 | $852.0M | $433.5M | ||
| Q4 24 | $871.7M | $429.5M | ||
| Q3 24 | $692.7M | $423.1M | ||
| Q2 24 | $588.3M | $418.4M | ||
| Q1 24 | $526.4M | $412.0M |
总资产PARRMAX
| Q4 25 | $1.4B | $582.5M | ||
| Q3 25 | $1.4B | $582.2M | ||
| Q2 25 | $1.4B | $574.8M | ||
| Q1 25 | $1.4B | $571.4M | ||
| Q4 24 | $1.4B | $581.6M | ||
| Q3 24 | $1.3B | $578.6M | ||
| Q2 24 | $1.1B | $571.4M | ||
| Q1 24 | $1.0B | $566.7M |
负债/权益比PARRMAX
| Q4 25 | 0.48× | 0.96× | ||
| Q3 25 | 0.47× | 0.97× | ||
| Q2 25 | 0.46× | 0.98× | ||
| Q1 25 | 0.46× | 1.00× | ||
| Q4 24 | 0.42× | 1.02× | ||
| Q3 24 | 0.67× | 1.03× | ||
| Q2 24 | 0.64× | 1.05× | ||
| Q1 24 | 0.72× | 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 | $-11.8M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $-12.5M | $33.5M |
| 自由现金流率自由现金流/营收 | -10.4% | 47.1% |
| 资本支出强度资本支出/营收 | 0.7% | 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 | $-30.5M | $56.8M |
8季度趋势，按日历期对齐
经营现金流PARRMAX
| Q4 25 | $-11.8M | $40.9M | ||
| Q3 25 | $8.4M | $17.7M | ||
| Q2 25 | $-6.6M | $4.6M | ||
| Q1 25 | $-17.2M | $5.7M | ||
| Q4 24 | $3.4M | $59.7M | ||
| Q3 24 | $8.8M | $17.6M | ||
| Q2 24 | $-13.8M | $15.9M | ||
| Q1 24 | $-23.6M | $9.4M |
自由现金流PARRMAX
| Q4 25 | $-12.5M | $33.5M | ||
| Q3 25 | $7.0M | $16.4M | ||
| Q2 25 | $-7.4M | $2.9M | ||
| Q1 25 | $-17.6M | $4.0M | ||
| Q4 24 | $3.2M | $53.0M | ||
| Q3 24 | $8.4M | $16.3M | ||
| Q2 24 | $-14.2M | $14.0M | ||
| Q1 24 | $-23.6M | $6.8M |
自由现金流率PARRMAX
| Q4 25 | -10.4% | 47.1% | ||
| Q3 25 | 5.9% | 22.4% | ||
| Q2 25 | -6.6% | 4.0% | ||
| Q1 25 | -16.9% | 5.3% | ||
| Q4 24 | 3.0% | 73.2% | ||
| Q3 24 | 8.7% | 20.8% | ||
| Q2 24 | -18.2% | 17.8% | ||
| Q1 24 | -33.7% | 8.6% |
资本支出强度PARRMAX
| Q4 25 | 0.7% | 10.4% | ||
| Q3 25 | 1.1% | 1.8% | ||
| Q2 25 | 0.7% | 2.2% | ||
| Q1 25 | 0.4% | 2.3% | ||
| Q4 24 | 0.2% | 9.1% | ||
| Q3 24 | 0.4% | 1.7% | ||
| Q2 24 | 0.5% | 2.4% | ||
| Q1 24 | 0.1% | 3.3% |
现金转化率PARRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | -0.26× | 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
PAR
| Subscription Service | $76.1M | 63% |
| Hardware | $27.8M | 23% |
| Professional Service | $16.2M | 13% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
