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昆腾（QMCO）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
昆腾的季度营收约是RE/MAX Holdings, Inc.的1.0倍（$74.6M vs $71.1M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -37.3%，领先39.4%），昆腾同比增速更快（2.8% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $-5.6M），过去两年昆腾的营收复合增速更高（2.1% vs -4.7%）
昆腾公司是一家专注数据存储、管理与保护的科技企业，为全生命周期的视频及非结构化数据提供存储、管理、归档与保护技术服务，客户覆盖各行各业的企业、媒体娱乐公司、政府机构、数据企业以及生命科学机构。公司总部位于加利福尼亚州圣何塞，在全球多地设有分支机构。
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。
QMCO vs RMAX — 直观对比
营收规模更大
QMCO
是对方的1.0倍
$71.1M
营收增速更快
QMCO
高出4.6%
-1.8%
净利率更高
RMAX
高出39.4%
-37.3%
自由现金流更多
RMAX
多$39.1M
$-5.6M
两年增速更快
QMCO
近两年复合增速
-4.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $74.6M | $71.1M |
| 净利润 | $-27.8M | $1.4M |
| 毛利率 | 38.8% | — |
| 营业利润率 | -1.6% | 13.1% |
| 净利率 | -37.3% | 2.0% |
| 营收同比 | 2.8% | -1.8% |
| 净利润同比 | 61.0% | -75.2% |
| 每股收益（稀释后） | $-2.03 | — |
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QMCORMAX
| Q4 25 | $74.6M | $71.1M | ||
| Q3 25 | $62.7M | $73.2M | ||
| Q2 25 | $64.3M | $72.8M | ||
| Q1 25 | $61.3M | $74.5M | ||
| Q4 24 | $68.7M | $72.5M | ||
| Q3 24 | $71.8M | $78.5M | ||
| Q2 24 | $72.3M | $78.5M | ||
| Q1 24 | $71.5M | $78.3M |
净利润QMCORMAX
| Q4 25 | $-27.8M | $1.4M | ||
| Q3 25 | $-46.5M | $4.0M | ||
| Q2 25 | $-17.2M | $4.7M | ||
| Q1 25 | $-7.7M | $-2.0M | ||
| Q4 24 | $-75.3M | $5.8M | ||
| Q3 24 | $-12.2M | $966.0K | ||
| Q2 24 | $-19.9M | $3.7M | ||
| Q1 24 | $-18.9M | $-3.4M |
毛利率QMCORMAX
| Q4 25 | 38.8% | — | ||
| Q3 25 | 37.6% | — | ||
| Q2 25 | 35.3% | — | ||
| Q1 25 | 39.6% | — | ||
| Q4 24 | 40.6% | — | ||
| Q3 24 | 42.7% | — | ||
| Q2 24 | 37.4% | — | ||
| Q1 24 | 38.2% | — |
营业利润率QMCORMAX
| Q4 25 | -1.6% | 13.1% | ||
| Q3 25 | -13.0% | 25.0% | ||
| Q2 25 | -19.6% | 19.3% | ||
| Q1 25 | -18.9% | 7.2% | ||
| Q4 24 | -11.3% | 5.9% | ||
| Q3 24 | -7.7% | 19.4% | ||
| Q2 24 | -23.3% | 20.6% | ||
| Q1 24 | -19.3% | 5.8% |
净利率QMCORMAX
| Q4 25 | -37.3% | 2.0% | ||
| Q3 25 | -74.1% | 5.4% | ||
| Q2 25 | -26.8% | 6.4% | ||
| Q1 25 | -12.6% | -2.6% | ||
| Q4 24 | -109.6% | 8.0% | ||
| Q3 24 | -16.9% | 1.2% | ||
| Q2 24 | -27.5% | 4.7% | ||
| Q1 24 | -26.5% | -4.3% |
每股收益（稀释后）QMCORMAX
| Q4 25 | $-2.03 | — | ||
| Q3 25 | $-3.49 | — | ||
| Q2 25 | $-1.87 | — | ||
| Q1 25 | $-0.31 | — | ||
| Q4 24 | $-15.35 | — | ||
| Q3 24 | $-2.54 | — | ||
| Q2 24 | $-4.15 | — | ||
| Q1 24 | $-5.80 | — |
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 | $13.2M | $118.7M |
| 总债务越低越好 | $75.9M | $432.2M |
| 股东权益账面价值 | $-184.2M | $452.4M |
| 总资产 | $149.3M | $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QMCORMAX
| Q4 25 | $13.2M | $118.7M | ||
| Q3 25 | $14.7M | $107.5M | ||
| Q2 25 | $37.4M | $94.3M | ||
| Q1 25 | $16.5M | $89.1M | ||
| Q4 24 | $20.4M | $96.6M | ||
| Q3 24 | $16.7M | $83.8M | ||
| Q2 24 | $17.3M | $66.1M | ||
| Q1 24 | $25.7M | $82.1M |
总债务QMCORMAX
| Q4 25 | $75.9M | $432.2M | ||
| Q3 25 | $0 | $433.3M | ||
| Q2 25 | $0 | $434.4M | ||
| Q1 25 | $0 | $435.3M | ||
| Q4 24 | $0 | $436.2M | ||
| Q3 24 | $123.0M | $437.2M | ||
| Q2 24 | $100.9M | $438.1M | ||
| Q1 24 | $0 | $439.0M |
股东权益QMCORMAX
| Q4 25 | $-184.2M | $452.4M | ||
| Q3 25 | $-160.5M | $448.1M | ||
| Q2 25 | $-114.4M | $442.4M | ||
| Q1 25 | $-164.4M | $433.5M | ||
| Q4 24 | $-196.6M | $429.5M | ||
| Q3 24 | $-151.1M | $423.1M | ||
| Q2 24 | $-140.3M | $418.4M | ||
| Q1 24 | $-121.5M | $412.0M |
总资产QMCORMAX
| Q4 25 | $149.3M | $582.5M | ||
| Q3 25 | $137.7M | $582.2M | ||
| Q2 25 | $169.2M | $574.8M | ||
| Q1 25 | $155.4M | $571.4M | ||
| Q4 24 | $168.1M | $581.6M | ||
| Q3 24 | $163.1M | $578.6M | ||
| Q2 24 | $173.1M | $571.4M | ||
| Q1 24 | $187.6M | $566.7M |
负债/权益比QMCORMAX
| 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 | $-4.9M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $-5.6M | $33.5M |
| 自由现金流率自由现金流/营收 | -7.5% | 47.1% |
| 资本支出强度资本支出/营收 | 0.9% | 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 | $-43.6M | $56.8M |
8季度趋势，按日历期对齐
经营现金流QMCORMAX
| Q4 25 | $-4.9M | $40.9M | ||
| Q3 25 | $-15.6M | $17.7M | ||
| Q2 25 | $-16.9M | $4.6M | ||
| Q1 25 | $-3.3M | $5.7M | ||
| Q4 24 | $-3.2M | $59.7M | ||
| Q3 24 | $-15.3M | $17.6M | ||
| Q2 24 | $-1.9M | $15.9M | ||
| Q1 24 | $10.6M | $9.4M |
自由现金流QMCORMAX
| Q4 25 | $-5.6M | $33.5M | ||
| Q3 25 | $-16.0M | $16.4M | ||
| Q2 25 | $-18.1M | $2.9M | ||
| Q1 25 | $-3.9M | $4.0M | ||
| Q4 24 | $-4.2M | $53.0M | ||
| Q3 24 | $-16.9M | $16.3M | ||
| Q2 24 | $-3.5M | $14.0M | ||
| Q1 24 | $9.7M | $6.8M |
自由现金流率QMCORMAX
| Q4 25 | -7.5% | 47.1% | ||
| Q3 25 | -25.5% | 22.4% | ||
| Q2 25 | -28.1% | 4.0% | ||
| Q1 25 | -6.4% | 5.3% | ||
| Q4 24 | -6.2% | 73.2% | ||
| Q3 24 | -23.5% | 20.8% | ||
| Q2 24 | -4.9% | 17.8% | ||
| Q1 24 | 13.6% | 8.6% |
资本支出强度QMCORMAX
| Q4 25 | 0.9% | 10.4% | ||
| Q3 25 | 0.7% | 1.8% | ||
| Q2 25 | 1.9% | 2.2% | ||
| Q1 25 | 1.0% | 2.3% | ||
| Q4 24 | 1.6% | 9.1% | ||
| Q3 24 | 2.2% | 1.7% | ||
| Q2 24 | 2.2% | 2.4% | ||
| Q1 24 | 1.2% | 3.3% |
现金转化率QMCORMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 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
QMCO
| Secondary Storage Systems | $30.6M | 41% |
| Service And Subscriptions | $26.5M | 36% |
| Primary Storage Systems | $10.1M | 14% |
| Subscriptions | $4.4M | 6% |
| Royalty | $1.6M | 2% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
