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PIPER SANDLER COMPANIES（PIPR）与Real Brokerage Inc（REAX）财务数据对比。点击上方公司名可切换其他公司
PIPER SANDLER COMPANIES的季度营收约是Real Brokerage Inc的1.2倍（$667.0M vs $568.5M），PIPER SANDLER COMPANIES净利率更高（17.1% vs -0.1%，领先17.2%），Real Brokerage Inc同比增速更快（52.6% vs 37.4%）
Piper Sandler是一家美国跨国投资银行及金融服务提供商，核心业务覆盖并购重组、财务重整、公开募股、公共财政、机构经纪、投资管理、证券研究等领域，通过旗下核心子公司Piper Sandler & Co.为企业、机构投资者及公共组织提供专业金融服务。
该企业是美国房产服务企业，主营房产经纪业务运营与品牌特许经营，业务覆盖房产中介、 relocation服务、产权服务、保险及结算服务，旗下拥有Better Homes and Gardens Real Estate、21世纪不动产、Coldwell Banker、Corcoran Group、ERA房地产以及苏富比国际地产等多个知名品牌，2026年被Compass, Inc.收购。
PIPR vs REAX — 直观对比
营收规模更大
PIPR
是对方的1.2倍
$568.5M
营收增速更快
REAX
高出15.2%
37.4%
净利率更高
PIPR
高出17.2%
-0.1%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $667.0M | $568.5M |
| 净利润 | $114.0M | $-447.0K |
| 毛利率 | — | 7.9% |
| 营业利润率 | 28.3% | -0.1% |
| 净利率 | 17.1% | -0.1% |
| 营收同比 | 37.4% | 52.6% |
| 净利润同比 | 65.0% | 82.7% |
| 每股收益（稀释后） | $6.41 | $0.00 |
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PIPRREAX
| Q4 25 | $667.0M | — | ||
| Q3 25 | $480.1M | $568.5M | ||
| Q2 25 | $398.6M | $540.7M | ||
| Q1 25 | $358.6M | $354.0M | ||
| Q4 24 | $485.4M | — | ||
| Q3 24 | $360.9M | $372.5M | ||
| Q2 24 | $340.8M | — | ||
| Q1 24 | $344.4M | $200.7M |
净利润PIPRREAX
| Q4 25 | $114.0M | — | ||
| Q3 25 | $60.3M | $-447.0K | ||
| Q2 25 | $42.2M | $1.5M | ||
| Q1 25 | $64.9M | $-5.0M | ||
| Q4 24 | $69.1M | — | ||
| Q3 24 | $34.8M | $-2.6M | ||
| Q2 24 | $34.8M | — | ||
| Q1 24 | $42.5M | $-16.1M |
毛利率PIPRREAX
| Q4 25 | — | — | ||
| Q3 25 | — | 7.9% | ||
| Q2 25 | — | 8.9% | ||
| Q1 25 | — | 9.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 8.6% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 10.3% |
营业利润率PIPRREAX
| Q4 25 | 28.3% | — | ||
| Q3 25 | 22.4% | -0.1% | ||
| Q2 25 | 12.3% | 0.3% | ||
| Q1 25 | 8.2% | -1.5% | ||
| Q4 24 | 16.9% | — | ||
| Q3 24 | 15.4% | -0.7% | ||
| Q2 24 | 8.3% | — | ||
| Q1 24 | 15.2% | -7.8% |
净利率PIPRREAX
| Q4 25 | 17.1% | — | ||
| Q3 25 | 12.6% | -0.1% | ||
| Q2 25 | 10.6% | 0.3% | ||
| Q1 25 | 18.1% | -1.4% | ||
| Q4 24 | 14.2% | — | ||
| Q3 24 | 9.6% | -0.7% | ||
| Q2 24 | 10.2% | — | ||
| Q1 24 | 12.3% | -8.0% |
每股收益（稀释后）PIPRREAX
| Q4 25 | $6.41 | — | ||
| Q3 25 | $3.38 | $0.00 | ||
| Q2 25 | $2.38 | $0.01 | ||
| Q1 25 | $3.65 | $-0.02 | ||
| Q4 24 | $3.88 | — | ||
| Q3 24 | $1.96 | $-0.01 | ||
| Q2 24 | $1.97 | — | ||
| Q1 24 | $2.43 | $-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 | — | $38.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $53.6M |
| 总资产 | $2.6B | $145.2M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资PIPRREAX
| Q4 25 | — | — | ||
| Q3 25 | — | $38.7M | ||
| Q2 25 | — | $49.7M | ||
| Q1 25 | — | $24.7M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $22.6M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $20.1M |
股东权益PIPRREAX
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.3B | $53.6M | ||
| Q2 25 | $1.2B | $49.2M | ||
| Q1 25 | $1.2B | $32.8M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | $29.8M | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | $25.6M |
总资产PIPRREAX
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.2B | $145.2M | ||
| Q2 25 | $2.0B | $149.4M | ||
| Q1 25 | $1.8B | $100.5M | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.0B | $102.5M | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $1.8B | — |
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 | $729.8M | $8.8M |
| 自由现金流经营现金流 - 资本支出 | — | $8.4M |
| 自由现金流率自由现金流/营收 | — | 1.5% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | 6.40× | — |
| 过去12个月自由现金流最近4个季度 | — | $71.7M |
8季度趋势，按日历期对齐
经营现金流PIPRREAX
| Q4 25 | $729.8M | — | ||
| Q3 25 | $31.9M | $8.8M | ||
| Q2 25 | $32.1M | $41.0M | ||
| Q1 25 | $-207.2M | $15.9M | ||
| Q4 24 | $163.8M | — | ||
| Q3 24 | $80.1M | $7.2M | ||
| Q2 24 | $266.5M | — | ||
| Q1 24 | $-197.2M | $21.5M |
自由现金流PIPRREAX
| Q4 25 | — | — | ||
| Q3 25 | — | $8.4M | ||
| Q2 25 | — | $40.8M | ||
| Q1 25 | — | $15.7M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $6.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $21.4M |
自由现金流率PIPRREAX
| Q4 25 | — | — | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 7.5% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 10.7% |
资本支出强度PIPRREAX
| Q4 25 | — | — | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.0% |
现金转化率PIPRREAX
| Q4 25 | 6.40× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.76× | 27.13× | ||
| Q1 25 | -3.19× | — | ||
| Q4 24 | 2.37× | — | ||
| Q3 24 | 2.30× | — | ||
| Q2 24 | 7.66× | — | ||
| Q1 24 | -4.64× | — |
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
PIPR
| Advisory Services | $402.6M | 60% |
| Equities Financing | $66.7M | 10% |
| Equity Salesand Trading | $64.2M | 10% |
| Fixed Income Salesand Trading | $47.9M | 7% |
| Other | $46.7M | 7% |
| Debt Financing | $38.9M | 6% |
REAX
暂无分部数据
