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ROCKY BRANDS, INC.（RCKY）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
ROCKY BRANDS, INC.的季度营收约是RE/MAX Holdings, Inc.的2.0倍（$139.7M vs $71.1M），ROCKY BRANDS, INC.净利率更高（4.7% vs 2.0%，领先2.6%），ROCKY BRANDS, INC.同比增速更快（9.1% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $16.7M），过去两年ROCKY BRANDS, INC.的营收复合增速更高（11.2% vs -4.7%）
洛基品牌公司（原洛基鞋靴公司）1932年创立于俄亥俄州纳尔逊维尔，总部至今仍设于该地。公司主营户外、工装、西部风格及军用鞋靴的设计研发、生产与销售，同时也推出各类户外与工装服饰及周边配件。
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。
RCKY vs RMAX — 直观对比
营收规模更大
RCKY
是对方的2.0倍
$71.1M
营收增速更快
RCKY
高出10.9%
-1.8%
净利率更高
RCKY
高出2.6%
2.0%
自由现金流更多
RMAX
多$16.8M
$16.7M
两年增速更快
RCKY
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $139.7M | $71.1M |
| 净利润 | $6.5M | $1.4M |
| 毛利率 | 41.3% | — |
| 营业利润率 | 6.9% | 13.1% |
| 净利率 | 4.7% | 2.0% |
| 营收同比 | 9.1% | -1.8% |
| 净利润同比 | 35.7% | -75.2% |
| 每股收益（稀释后） | $0.86 | — |
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RCKYRMAX
| Q4 25 | $139.7M | $71.1M | ||
| Q3 25 | $122.5M | $73.2M | ||
| Q2 25 | $105.6M | $72.8M | ||
| Q1 25 | $114.1M | $74.5M | ||
| Q4 24 | $128.1M | $72.5M | ||
| Q3 24 | $114.6M | $78.5M | ||
| Q2 24 | $98.3M | $78.5M | ||
| Q1 24 | $112.9M | $78.3M |
净利润RCKYRMAX
| Q4 25 | $6.5M | $1.4M | ||
| Q3 25 | $7.2M | $4.0M | ||
| Q2 25 | $3.6M | $4.7M | ||
| Q1 25 | $4.9M | $-2.0M | ||
| Q4 24 | $4.8M | $5.8M | ||
| Q3 24 | $5.3M | $966.0K | ||
| Q2 24 | $-1.2M | $3.7M | ||
| Q1 24 | $2.5M | $-3.4M |
毛利率RCKYRMAX
| Q4 25 | 41.3% | — | ||
| Q3 25 | 40.2% | — | ||
| Q2 25 | 41.0% | — | ||
| Q1 25 | 41.2% | — | ||
| Q4 24 | 41.5% | — | ||
| Q3 24 | 38.1% | — | ||
| Q2 24 | 38.7% | — | ||
| Q1 24 | 39.1% | — |
营业利润率RCKYRMAX
| Q4 25 | 6.9% | 13.1% | ||
| Q3 25 | 9.6% | 25.0% | ||
| Q2 25 | 6.8% | 19.3% | ||
| Q1 25 | 7.6% | 7.2% | ||
| Q4 24 | 6.6% | 5.9% | ||
| Q3 24 | 8.8% | 19.4% | ||
| Q2 24 | 4.6% | 20.6% | ||
| Q1 24 | 7.1% | 5.8% |
净利率RCKYRMAX
| Q4 25 | 4.7% | 2.0% | ||
| Q3 25 | 5.9% | 5.4% | ||
| Q2 25 | 3.4% | 6.4% | ||
| Q1 25 | 4.3% | -2.6% | ||
| Q4 24 | 3.7% | 8.0% | ||
| Q3 24 | 4.6% | 1.2% | ||
| Q2 24 | -1.3% | 4.7% | ||
| Q1 24 | 2.3% | -4.3% |
每股收益（稀释后）RCKYRMAX
| Q4 25 | $0.86 | — | ||
| Q3 25 | $0.96 | — | ||
| Q2 25 | $0.48 | — | ||
| Q1 25 | $0.66 | — | ||
| Q4 24 | $0.65 | — | ||
| Q3 24 | $0.70 | — | ||
| Q2 24 | $-0.17 | — | ||
| Q1 24 | $0.34 | — |
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 | $2.9M | $118.7M |
| 总债务越低越好 | $122.6M | $432.2M |
| 股东权益账面价值 | $252.1M | $452.4M |
| 总资产 | $477.5M | $582.5M |
| 负债/权益比越低杠杆越低 | 0.49× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资RCKYRMAX
| Q4 25 | $2.9M | $118.7M | ||
| Q3 25 | $3.3M | $107.5M | ||
| Q2 25 | $2.8M | $94.3M | ||
| Q1 25 | $2.6M | $89.1M | ||
| Q4 24 | $3.7M | $96.6M | ||
| Q3 24 | $3.7M | $83.8M | ||
| Q2 24 | $4.1M | $66.1M | ||
| Q1 24 | $3.1M | $82.1M |
总债务RCKYRMAX
| Q4 25 | $122.6M | $432.2M | ||
| Q3 25 | $139.0M | $433.3M | ||
| Q2 25 | $132.5M | $434.4M | ||
| Q1 25 | $128.6M | $435.3M | ||
| Q4 24 | $128.7M | $436.2M | ||
| Q3 24 | $150.3M | $437.2M | ||
| Q2 24 | $152.4M | $438.1M | ||
| Q1 24 | $156.0M | $439.0M |
股东权益RCKYRMAX
| Q4 25 | $252.1M | $452.4M | ||
| Q3 25 | $246.1M | $448.1M | ||
| Q2 25 | $239.1M | $442.4M | ||
| Q1 25 | $236.2M | $433.5M | ||
| Q4 24 | $232.2M | $429.5M | ||
| Q3 24 | $228.3M | $423.1M | ||
| Q2 24 | $223.8M | $418.4M | ||
| Q1 24 | $225.3M | $412.0M |
总资产RCKYRMAX
| Q4 25 | $477.5M | $582.5M | ||
| Q3 25 | $494.0M | $582.2M | ||
| Q2 25 | $471.0M | $574.8M | ||
| Q1 25 | $468.2M | $571.4M | ||
| Q4 24 | $457.3M | $581.6M | ||
| Q3 24 | $475.0M | $578.6M | ||
| Q2 24 | $467.9M | $571.4M | ||
| Q1 24 | $466.5M | $566.7M |
负债/权益比RCKYRMAX
| Q4 25 | 0.49× | 0.96× | ||
| Q3 25 | 0.57× | 0.97× | ||
| Q2 25 | 0.55× | 0.98× | ||
| Q1 25 | 0.54× | 1.00× | ||
| Q4 24 | 0.55× | 1.02× | ||
| Q3 24 | 0.66× | 1.03× | ||
| Q2 24 | 0.68× | 1.05× | ||
| Q1 24 | 0.69× | 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 | $17.6M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $16.7M | $33.5M |
| 自由现金流率自由现金流/营收 | 12.0% | 47.1% |
| 资本支出强度资本支出/营收 | 0.6% | 10.4% |
| 现金转化率经营现金流/净利润 | 2.70× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $9.7M | $56.8M |
8季度趋势，按日历期对齐
经营现金流RCKYRMAX
| Q4 25 | $17.6M | $40.9M | ||
| Q3 25 | $-3.3M | $17.7M | ||
| Q2 25 | $812.0K | $4.6M | ||
| Q1 25 | $1.2M | $5.7M | ||
| Q4 24 | $24.4M | $59.7M | ||
| Q3 24 | $4.5M | $17.6M | ||
| Q2 24 | $6.5M | $15.9M | ||
| Q1 24 | $17.4M | $9.4M |
自由现金流RCKYRMAX
| Q4 25 | $16.7M | $33.5M | ||
| Q3 25 | $-5.2M | $16.4M | ||
| Q2 25 | $-2.4M | $2.9M | ||
| Q1 25 | $529.0K | $4.0M | ||
| Q4 24 | $22.9M | $53.0M | ||
| Q3 24 | $3.5M | $16.3M | ||
| Q2 24 | $4.6M | $14.0M | ||
| Q1 24 | $17.1M | $6.8M |
自由现金流率RCKYRMAX
| Q4 25 | 12.0% | 47.1% | ||
| Q3 25 | -4.2% | 22.4% | ||
| Q2 25 | -2.2% | 4.0% | ||
| Q1 25 | 0.5% | 5.3% | ||
| Q4 24 | 17.9% | 73.2% | ||
| Q3 24 | 3.0% | 20.8% | ||
| Q2 24 | 4.7% | 17.8% | ||
| Q1 24 | 15.2% | 8.6% |
资本支出强度RCKYRMAX
| Q4 25 | 0.6% | 10.4% | ||
| Q3 25 | 1.5% | 1.8% | ||
| Q2 25 | 3.0% | 2.2% | ||
| Q1 25 | 0.6% | 2.3% | ||
| Q4 24 | 1.2% | 9.1% | ||
| Q3 24 | 0.9% | 1.7% | ||
| Q2 24 | 1.9% | 2.4% | ||
| Q1 24 | 0.2% | 3.3% |
现金转化率RCKYRMAX
| Q4 25 | 2.70× | 28.39× | ||
| Q3 25 | -0.46× | 4.45× | ||
| Q2 25 | 0.23× | 0.97× | ||
| Q1 25 | 0.25× | — | ||
| Q4 24 | 5.08× | 10.28× | ||
| Q3 24 | 0.85× | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| Q1 24 | 6.82× | — |
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
RCKY
| Wholesale | $79.6M | 57% |
| Retail1 | $57.0M | 41% |
| Contract Manufacturing | $3.2M | 2% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
