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TheRealReal, Inc.（REAL）与STURM RUGER & CO INC（RGR）财务数据对比。点击上方公司名可切换其他公司
TheRealReal, Inc.的季度营收约是STURM RUGER & CO INC的1.3倍（$194.1M vs $151.1M），TheRealReal, Inc.同比增速更快（18.3% vs 3.6%），TheRealReal, Inc.自由现金流更多（$45.8M vs $12.3M），过去两年TheRealReal, Inc.的营收复合增速更高（16.2% vs 5.1%）
TheRealReal是专业的奢侈品线上交易平台，所有在售商品均经过专业人员鉴定，可满足用户买卖二手奢侈品的需求。截至2023年9月30日，平台会员规模已超3800万，累计售出商品近4000万件。
鲁格公司（Ruger）是总部位于美国康涅狄格州绍斯波特的枪械制造企业，除总部外，还在新罕布什尔州纽波特、北卡罗来纳州梅约丹以及亚利桑那州普雷斯科特设有生产工厂。公司由亚历山大·麦考密克·斯特姆与威廉·B·鲁格于1949年共同创立，自1969年起公开上市交易。
REAL vs RGR — 直观对比
营收规模更大
REAL
是对方的1.3倍
$151.1M
营收增速更快
REAL
高出14.7%
3.6%
自由现金流更多
REAL
多$33.5M
$12.3M
两年增速更快
REAL
近两年复合增速
5.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $194.1M | $151.1M |
| 净利润 | — | — |
| 毛利率 | 74.8% | 17.8% |
| 营业利润率 | 3.2% | 2.3% |
| 净利率 | — | — |
| 营收同比 | 18.3% | 3.6% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.06 | $0.22 |
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REALRGR
| Q4 25 | $194.1M | $151.1M | ||
| Q3 25 | $173.6M | $126.8M | ||
| Q2 25 | $165.2M | $132.5M | ||
| Q1 25 | $160.0M | $135.7M | ||
| Q4 24 | $164.0M | $145.8M | ||
| Q3 24 | $147.8M | $122.3M | ||
| Q2 24 | $144.9M | $130.8M | ||
| Q1 24 | $143.8M | $136.8M |
净利润REALRGR
| Q4 25 | — | — | ||
| Q3 25 | $-54.1M | $1.6M | ||
| Q2 25 | $-11.4M | $-17.2M | ||
| Q1 25 | $62.4M | $7.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-17.9M | $4.7M | ||
| Q2 24 | $-16.7M | $8.3M | ||
| Q1 24 | $-31.1M | $7.1M |
毛利率REALRGR
| Q4 25 | 74.8% | 17.8% | ||
| Q3 25 | 74.3% | 15.1% | ||
| Q2 25 | 74.3% | 3.9% | ||
| Q1 25 | 75.0% | 22.0% | ||
| Q4 24 | 74.4% | 22.8% | ||
| Q3 24 | 74.9% | 18.5% | ||
| Q2 24 | 74.1% | 22.3% | ||
| Q1 24 | 74.6% | 21.5% |
营业利润率REALRGR
| Q4 25 | 3.2% | 2.3% | ||
| Q3 25 | -4.3% | -2.7% | ||
| Q2 25 | -6.0% | -15.6% | ||
| Q1 25 | -8.0% | 6.2% | ||
| Q4 24 | -3.1% | 7.8% | ||
| Q3 24 | -9.9% | 3.1% | ||
| Q2 24 | -13.0% | 6.9% | ||
| Q1 24 | -12.5% | 5.5% |
净利率REALRGR
| Q4 25 | — | — | ||
| Q3 25 | -31.1% | 1.2% | ||
| Q2 25 | -6.9% | -13.0% | ||
| Q1 25 | 39.0% | 5.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | -12.1% | 3.9% | ||
| Q2 24 | -11.5% | 6.3% | ||
| Q1 24 | -21.6% | 5.2% |
每股收益（稀释后）REALRGR
| Q4 25 | $0.06 | $0.22 | ||
| Q3 25 | $-0.49 | $0.10 | ||
| Q2 25 | $-0.13 | $-1.05 | ||
| Q1 25 | $-0.14 | $0.46 | ||
| Q4 24 | $-0.57 | $0.62 | ||
| Q3 24 | $-0.17 | $0.28 | ||
| Q2 24 | $-0.20 | $0.47 | ||
| Q1 24 | $-0.30 | $0.40 |
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 | $151.2M | $92.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-415.5M | $283.8M |
| 总资产 | $409.0M | $342.0M |
| 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REALRGR
| Q4 25 | $151.2M | $92.5M | ||
| Q3 25 | $108.4M | $80.8M | ||
| Q2 25 | $94.3M | $101.4M | ||
| Q1 25 | $139.6M | $108.3M | ||
| Q4 24 | $172.2M | $105.5M | ||
| Q3 24 | $153.2M | $96.0M | ||
| Q2 24 | $150.7M | $105.6M | ||
| Q1 24 | $166.0M | $115.3M |
股东权益REALRGR
| Q4 25 | $-415.5M | $283.8M | ||
| Q3 25 | $-385.1M | $279.6M | ||
| Q2 25 | $-338.2M | $289.3M | ||
| Q1 25 | $-336.1M | $321.5M | ||
| Q4 24 | $-407.4M | $319.6M | ||
| Q3 24 | $-345.4M | $314.9M | ||
| Q2 24 | $-335.3M | $321.5M | ||
| Q1 24 | $-327.1M | $332.0M |
总资产REALRGR
| Q4 25 | $409.0M | $342.0M | ||
| Q3 25 | $366.2M | $342.3M | ||
| Q2 25 | $349.4M | $349.5M | ||
| Q1 25 | $400.4M | $379.0M | ||
| Q4 24 | $423.1M | $384.0M | ||
| Q3 24 | $406.3M | $373.5M | ||
| Q2 24 | $407.4M | $376.7M | ||
| Q1 24 | $431.6M | $385.0M |
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 | $49.5M | $15.5M |
| 自由现金流经营现金流 - 资本支出 | $45.8M | $12.3M |
| 自由现金流率自由现金流/营收 | 23.6% | 8.2% |
| 资本支出强度资本支出/营收 | 1.9% | 2.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $18.4M | $38.5M |
8季度趋势，按日历期对齐
经营现金流REALRGR
| Q4 25 | $49.5M | $15.5M | ||
| Q3 25 | $19.3M | $12.9M | ||
| Q2 25 | $-3.6M | $14.7M | ||
| Q1 25 | $-28.3M | $11.1M | ||
| Q4 24 | $28.0M | $20.0M | ||
| Q3 24 | $9.1M | $9.4M | ||
| Q2 24 | $-6.8M | $18.7M | ||
| Q1 24 | $-3.5M | $7.3M |
自由现金流REALRGR
| Q4 25 | $45.8M | $12.3M | ||
| Q3 25 | $16.9M | $7.0M | ||
| Q2 25 | $-11.4M | $9.1M | ||
| Q1 25 | $-33.0M | $10.0M | ||
| Q4 24 | $22.9M | $16.4M | ||
| Q3 24 | $5.0M | $2.6M | ||
| Q2 24 | $-9.8M | $10.1M | ||
| Q1 24 | $-5.6M | $5.6M |
自由现金流率REALRGR
| Q4 25 | 23.6% | 8.2% | ||
| Q3 25 | 9.7% | 5.5% | ||
| Q2 25 | -6.9% | 6.9% | ||
| Q1 25 | -20.6% | 7.4% | ||
| Q4 24 | 14.0% | 11.2% | ||
| Q3 24 | 3.4% | 2.1% | ||
| Q2 24 | -6.7% | 7.7% | ||
| Q1 24 | -3.9% | 4.1% |
资本支出强度REALRGR
| Q4 25 | 1.9% | 2.1% | ||
| Q3 25 | 1.4% | 4.6% | ||
| Q2 25 | 4.7% | 4.2% | ||
| Q1 25 | 2.9% | 0.8% | ||
| Q4 24 | 3.1% | 2.5% | ||
| Q3 24 | 2.7% | 5.5% | ||
| Q2 24 | 2.1% | 6.6% | ||
| Q1 24 | 1.5% | 1.3% |
现金转化率REALRGR
| Q4 25 | — | — | ||
| Q3 25 | — | 8.15× | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.45× | 1.43× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.98× | ||
| Q2 24 | — | 2.27× | ||
| Q1 24 | — | 1.04× |
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
REAL
| Services | $149.0M | 77% |
| Products | $27.2M | 14% |
| Shipping And Handling | $17.8M | 9% |
RGR
| Firearms | $150.6M | 100% |
| Castings | $7.3M | 5% |
