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PubMatic, Inc.（PUBM）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
PubMatic, Inc.的季度营收约是RE/MAX Holdings, Inc.的1.1倍（$80.0M vs $71.1M），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -6.4%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $11.3M），过去两年PubMatic, Inc.的营收复合增速更高（9.5% vs -4.7%）
PubMatic是一家面向数字出版与广告行业的科技企业，核心开发供应端实时程序化广告交易系统，依托自动化技术连接网站、视频、移动端应用的出版商与广告买家，同时支持用户选择不共享个人信息，目前在全球多国设有办公网点。
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。
PUBM vs RMAX — 直观对比
营收规模更大
PUBM
是对方的1.1倍
$71.1M
营收增速更快
RMAX
高出4.5%
-6.4%
自由现金流更多
RMAX
多$22.2M
$11.3M
两年增速更快
PUBM
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $80.0M | $71.1M |
| 净利润 | — | $1.4M |
| 毛利率 | 68.2% | — |
| 营业利润率 | 10.6% | 13.1% |
| 净利率 | — | 2.0% |
| 营收同比 | -6.4% | -1.8% |
| 净利润同比 | — | -75.2% |
| 每股收益（稀释后） | $0.14 | — |
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PUBMRMAX
| Q4 25 | $80.0M | $71.1M | ||
| Q3 25 | $68.0M | $73.2M | ||
| Q2 25 | $71.1M | $72.8M | ||
| Q1 25 | $63.8M | $74.5M | ||
| Q4 24 | $85.5M | $72.5M | ||
| Q3 24 | $71.8M | $78.5M | ||
| Q2 24 | $67.3M | $78.5M | ||
| Q1 24 | $66.7M | $78.3M |
净利润PUBMRMAX
| Q4 25 | — | $1.4M | ||
| Q3 25 | $-6.5M | $4.0M | ||
| Q2 25 | $-5.2M | $4.7M | ||
| Q1 25 | $-9.5M | $-2.0M | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | $-912.0K | $966.0K | ||
| Q2 24 | $2.0M | $3.7M | ||
| Q1 24 | $-2.5M | $-3.4M |
毛利率PUBMRMAX
| Q4 25 | 68.2% | — | ||
| Q3 25 | 62.6% | — | ||
| Q2 25 | 62.6% | — | ||
| Q1 25 | 59.9% | — | ||
| Q4 24 | 70.8% | — | ||
| Q3 24 | 64.5% | — | ||
| Q2 24 | 62.6% | — | ||
| Q1 24 | 61.9% | — |
营业利润率PUBMRMAX
| Q4 25 | 10.6% | 13.1% | ||
| Q3 25 | -12.4% | 25.0% | ||
| Q2 25 | -7.7% | 19.3% | ||
| Q1 25 | -18.6% | 7.2% | ||
| Q4 24 | 17.3% | 5.9% | ||
| Q3 24 | -1.9% | 19.4% | ||
| Q2 24 | -5.9% | 20.6% | ||
| Q1 24 | -8.3% | 5.8% |
净利率PUBMRMAX
| Q4 25 | — | 2.0% | ||
| Q3 25 | -9.5% | 5.4% | ||
| Q2 25 | -7.3% | 6.4% | ||
| Q1 25 | -14.9% | -2.6% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | -1.3% | 1.2% | ||
| Q2 24 | 2.9% | 4.7% | ||
| Q1 24 | -3.7% | -4.3% |
每股收益（稀释后）PUBMRMAX
| Q4 25 | $0.14 | — | ||
| Q3 25 | $-0.14 | — | ||
| Q2 25 | $-0.11 | — | ||
| Q1 25 | $-0.20 | — | ||
| Q4 24 | $0.26 | — | ||
| Q3 24 | $-0.02 | — | ||
| Q2 24 | $0.04 | — | ||
| Q1 24 | $-0.05 | — |
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 | $145.5M | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $262.6M | $452.4M |
| 总资产 | $680.2M | $582.5M |
| 负债/权益比越低杠杆越低 | — | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资PUBMRMAX
| Q4 25 | $145.5M | $118.7M | ||
| Q3 25 | $136.5M | $107.5M | ||
| Q2 25 | $90.5M | $94.3M | ||
| Q1 25 | $101.8M | $89.1M | ||
| Q4 24 | $100.5M | $96.6M | ||
| Q3 24 | $78.9M | $83.8M | ||
| Q2 24 | $73.5M | $66.1M | ||
| Q1 24 | $80.2M | $82.1M |
总债务PUBMRMAX
| Q4 25 | — | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | — | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
股东权益PUBMRMAX
| Q4 25 | $262.6M | $452.4M | ||
| Q3 25 | $245.1M | $448.1M | ||
| Q2 25 | $243.3M | $442.4M | ||
| Q1 25 | $275.6M | $433.5M | ||
| Q4 24 | $277.3M | $429.5M | ||
| Q3 24 | $263.2M | $423.1M | ||
| Q2 24 | $282.7M | $418.4M | ||
| Q1 24 | $288.7M | $412.0M |
总资产PUBMRMAX
| Q4 25 | $680.2M | $582.5M | ||
| Q3 25 | $676.2M | $582.2M | ||
| Q2 25 | $675.2M | $574.8M | ||
| Q1 25 | $668.6M | $571.4M | ||
| Q4 24 | $739.5M | $581.6M | ||
| Q3 24 | $689.1M | $578.6M | ||
| Q2 24 | $673.1M | $571.4M | ||
| Q1 24 | $626.2M | $566.7M |
负债/权益比PUBMRMAX
| Q4 25 | — | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | — | 1.02× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | — | 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 | $18.2M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $11.3M | $33.5M |
| 自由现金流率自由现金流/营收 | 14.1% | 47.1% |
| 资本支出强度资本支出/营收 | 8.6% | 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 | $66.7M | $56.8M |
8季度趋势，按日历期对齐
经营现金流PUBMRMAX
| Q4 25 | $18.2M | $40.9M | ||
| Q3 25 | $32.4M | $17.7M | ||
| Q2 25 | $14.9M | $4.6M | ||
| Q1 25 | $15.6M | $5.7M | ||
| Q4 24 | $18.0M | $59.7M | ||
| Q3 24 | $19.1M | $17.6M | ||
| Q2 24 | $11.9M | $15.9M | ||
| Q1 24 | $24.3M | $9.4M |
自由现金流PUBMRMAX
| Q4 25 | $11.3M | $33.5M | ||
| Q3 25 | $27.7M | $16.4M | ||
| Q2 25 | $13.6M | $2.9M | ||
| Q1 25 | $14.2M | $4.0M | ||
| Q4 24 | $13.7M | $53.0M | ||
| Q3 24 | $7.4M | $16.3M | ||
| Q2 24 | $11.2M | $14.0M | ||
| Q1 24 | $23.5M | $6.8M |
自由现金流率PUBMRMAX
| Q4 25 | 14.1% | 47.1% | ||
| Q3 25 | 40.8% | 22.4% | ||
| Q2 25 | 19.1% | 4.0% | ||
| Q1 25 | 22.2% | 5.3% | ||
| Q4 24 | 16.1% | 73.2% | ||
| Q3 24 | 10.3% | 20.8% | ||
| Q2 24 | 16.7% | 17.8% | ||
| Q1 24 | 35.2% | 8.6% |
资本支出强度PUBMRMAX
| Q4 25 | 8.6% | 10.4% | ||
| Q3 25 | 6.9% | 1.8% | ||
| Q2 25 | 1.9% | 2.2% | ||
| Q1 25 | 2.3% | 2.3% | ||
| Q4 24 | 5.1% | 9.1% | ||
| Q3 24 | 16.3% | 1.7% | ||
| Q2 24 | 1.1% | 2.4% | ||
| Q1 24 | 1.2% | 3.3% |
现金转化率PUBMRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | 6.06× | 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
PUBM
暂无分部数据
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
