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READING INTERNATIONAL INC（RDI）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
RE/MAX Holdings, Inc.的季度营收约是READING INTERNATIONAL INC的1.4倍（$71.1M vs $50.3M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -5.1%，领先7.1%），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -14.2%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $4.1M），过去两年READING INTERNATIONAL INC的营收复合增速更高（5.6% vs -4.7%）
雷丁公司是总部位于美国费城的铁路企业，1924年起在宾夕法尼亚州东部及周边各州提供客运与货运运输服务，直至1976年被联合铁路公司收购。
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。
RDI vs RMAX — 直观对比
营收规模更大
RMAX
是对方的1.4倍
$50.3M
营收增速更快
RMAX
高出12.3%
-14.2%
净利率更高
RMAX
高出7.1%
-5.1%
自由现金流更多
RMAX
多$29.4M
$4.1M
两年增速更快
RDI
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $50.3M | $71.1M |
| 净利润 | $-2.6M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | -1.9% | 13.1% |
| 净利率 | -5.1% | 2.0% |
| 营收同比 | -14.2% | -1.8% |
| 净利润同比 | -14.5% | -75.2% |
| 每股收益（稀释后） | $-0.11 | — |
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RDIRMAX
| Q4 25 | $50.3M | $71.1M | ||
| Q3 25 | $52.2M | $73.2M | ||
| Q2 25 | $60.4M | $72.8M | ||
| Q1 25 | $40.2M | $74.5M | ||
| Q4 24 | $58.6M | $72.5M | ||
| Q3 24 | $60.1M | $78.5M | ||
| Q2 24 | $46.8M | $78.5M | ||
| Q1 24 | $45.1M | $78.3M |
净利润RDIRMAX
| Q4 25 | $-2.6M | $1.4M | ||
| Q3 25 | $-4.2M | $4.0M | ||
| Q2 25 | $-2.7M | $4.7M | ||
| Q1 25 | $-4.8M | $-2.0M | ||
| Q4 24 | $-2.2M | $5.8M | ||
| Q3 24 | $-7.0M | $966.0K | ||
| Q2 24 | $-12.8M | $3.7M | ||
| Q1 24 | $-13.2M | $-3.4M |
营业利润率RDIRMAX
| Q4 25 | -1.9% | 13.1% | ||
| Q3 25 | -0.6% | 25.0% | ||
| Q2 25 | 4.8% | 19.3% | ||
| Q1 25 | -17.2% | 7.2% | ||
| Q4 24 | 2.6% | 5.9% | ||
| Q3 24 | -0.6% | 19.4% | ||
| Q2 24 | -16.4% | 20.6% | ||
| Q1 24 | -16.7% | 5.8% |
净利率RDIRMAX
| Q4 25 | -5.1% | 2.0% | ||
| Q3 25 | -8.0% | 5.4% | ||
| Q2 25 | -4.4% | 6.4% | ||
| Q1 25 | -11.8% | -2.6% | ||
| Q4 24 | -3.8% | 8.0% | ||
| Q3 24 | -11.7% | 1.2% | ||
| Q2 24 | -27.4% | 4.7% | ||
| Q1 24 | -29.4% | -4.3% |
每股收益（稀释后）RDIRMAX
| Q4 25 | $-0.11 | — | ||
| Q3 25 | $-0.18 | — | ||
| Q2 25 | $-0.12 | — | ||
| Q1 25 | $-0.21 | — | ||
| Q4 24 | $-0.11 | — | ||
| Q3 24 | $-0.31 | — | ||
| Q2 24 | $-0.57 | — | ||
| Q1 24 | $-0.59 | — |
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 | $10.5M | $118.7M |
| 总债务越低越好 | $185.1M | $432.2M |
| 股东权益账面价值 | $-18.2M | $452.4M |
| 总资产 | $434.9M | $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RDIRMAX
| Q4 25 | $10.5M | $118.7M | ||
| Q3 25 | $8.1M | $107.5M | ||
| Q2 25 | $9.1M | $94.3M | ||
| Q1 25 | $5.9M | $89.1M | ||
| Q4 24 | $12.4M | $96.6M | ||
| Q3 24 | $10.1M | $83.8M | ||
| Q2 24 | $9.3M | $66.1M | ||
| Q1 24 | $7.5M | $82.1M |
总债务RDIRMAX
| Q4 25 | $185.1M | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | $202.7M | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
股东权益RDIRMAX
| Q4 25 | $-18.2M | $452.4M | ||
| Q3 25 | $-12.1M | $448.1M | ||
| Q2 25 | $-7.7M | $442.4M | ||
| Q1 25 | $-8.1M | $433.5M | ||
| Q4 24 | $-4.4M | $429.5M | ||
| Q3 24 | $1.6M | $423.1M | ||
| Q2 24 | $6.5M | $418.4M | ||
| Q1 24 | $18.0M | $412.0M |
总资产RDIRMAX
| Q4 25 | $434.9M | $582.5M | ||
| Q3 25 | $435.2M | $582.2M | ||
| Q2 25 | $438.1M | $574.8M | ||
| Q1 25 | $441.0M | $571.4M | ||
| Q4 24 | $471.0M | $581.6M | ||
| Q3 24 | $495.7M | $578.6M | ||
| Q2 24 | $494.9M | $571.4M | ||
| Q1 24 | $494.9M | $566.7M |
负债/权益比RDIRMAX
| 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 | $4.3M | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $4.1M | $33.5M |
| 自由现金流率自由现金流/营收 | 8.2% | 47.1% |
| 资本支出强度资本支出/营收 | 0.3% | 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 | $-2.9M | $56.8M |
8季度趋势，按日历期对齐
经营现金流RDIRMAX
| Q4 25 | $4.3M | $40.9M | ||
| Q3 25 | $295.0K | $17.7M | ||
| Q2 25 | $1.6M | $4.6M | ||
| Q1 25 | $-7.7M | $5.7M | ||
| Q4 24 | $8.0M | $59.7M | ||
| Q3 24 | $1.3M | $17.6M | ||
| Q2 24 | $-10.4M | $15.9M | ||
| Q1 24 | $-2.8M | $9.4M |
自由现金流RDIRMAX
| Q4 25 | $4.1M | $33.5M | ||
| Q3 25 | $-246.0K | $16.4M | ||
| Q2 25 | $1.2M | $2.9M | ||
| Q1 25 | $-8.0M | $4.0M | ||
| Q4 24 | $7.0M | $53.0M | ||
| Q3 24 | $-1.1M | $16.3M | ||
| Q2 24 | $-10.6M | $14.0M | ||
| Q1 24 | $-4.7M | $6.8M |
自由现金流率RDIRMAX
| Q4 25 | 8.2% | 47.1% | ||
| Q3 25 | -0.5% | 22.4% | ||
| Q2 25 | 1.9% | 4.0% | ||
| Q1 25 | -19.8% | 5.3% | ||
| Q4 24 | 12.0% | 73.2% | ||
| Q3 24 | -1.8% | 20.8% | ||
| Q2 24 | -22.7% | 17.8% | ||
| Q1 24 | -10.4% | 8.6% |
资本支出强度RDIRMAX
| Q4 25 | 0.3% | 10.4% | ||
| Q3 25 | 1.0% | 1.8% | ||
| Q2 25 | 0.6% | 2.2% | ||
| Q1 25 | 0.6% | 2.3% | ||
| Q4 24 | 1.7% | 9.1% | ||
| Q3 24 | 4.0% | 1.7% | ||
| Q2 24 | 0.5% | 2.4% | ||
| Q1 24 | 4.3% | 3.3% |
现金转化率RDIRMAX
| 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
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
