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TheRealReal, Inc.（REAL）与BRC Group Holdings, Inc.（RILY）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BRC Group Holdings, Inc.的1.0倍（$194.1M vs $188.3M），TheRealReal, Inc.同比增速更快（18.3% vs -21.9%），过去两年TheRealReal, Inc.的营收复合增速更高（16.2% vs -15.4%）
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。
REAL vs RILY — 直观对比
营收规模更大
REAL
是对方的1.0倍
$188.3M
营收增速更快
REAL
高出40.2%
-21.9%
两年增速更快
REAL
近两年复合增速
-15.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $194.1M | $188.3M |
| 净利润 | — | $90.3M |
| 毛利率 | 74.8% | 79.5% |
| 营业利润率 | 3.2% | 32.3% |
| 净利率 | — | 47.9% |
| 营收同比 | 18.3% | -21.9% |
| 净利润同比 | — | 1710.8% |
| 每股收益（稀释后） | $0.06 | $2.78 |
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REALRILY
| Q4 25 | $194.1M | $188.3M | ||
| Q3 25 | $173.6M | $215.3M | ||
| Q2 25 | $165.2M | $188.2M | ||
| Q1 25 | $160.0M | $197.2M | ||
| Q4 24 | $164.0M | $241.0M | ||
| Q3 24 | $147.8M | $225.5M | ||
| Q2 24 | $144.9M | $256.0M | ||
| Q1 24 | $143.8M | $263.4M |
净利润REALRILY
| Q4 25 | — | $90.3M | ||
| Q3 25 | $-54.1M | $91.1M | ||
| Q2 25 | $-11.4M | $139.5M | ||
| Q1 25 | $62.4M | $-10.0M | ||
| Q4 24 | — | $-5.6M | ||
| Q3 24 | $-17.9M | $-284.4M | ||
| Q2 24 | $-16.7M | $-433.6M | ||
| Q1 24 | $-31.1M | $-49.2M |
毛利率REALRILY
| Q4 25 | 74.8% | 79.5% | ||
| Q3 25 | 74.3% | 83.7% | ||
| Q2 25 | 74.3% | 81.3% | ||
| Q1 25 | 75.0% | 81.4% | ||
| Q4 24 | 74.4% | 79.8% | ||
| Q3 24 | 74.9% | 82.1% | ||
| Q2 24 | 74.1% | 84.5% | ||
| Q1 24 | 74.6% | 85.3% |
营业利润率REALRILY
| Q4 25 | 3.2% | 32.3% | ||
| Q3 25 | -4.3% | 30.4% | ||
| Q2 25 | -6.0% | 5.7% | ||
| Q1 25 | -8.0% | -31.2% | ||
| Q4 24 | -3.1% | -69.2% | ||
| Q3 24 | -9.9% | -36.4% | ||
| Q2 24 | -13.0% | -90.8% | ||
| Q1 24 | -12.5% | -6.1% |
净利率REALRILY
| Q4 25 | — | 47.9% | ||
| Q3 25 | -31.1% | 42.3% | ||
| Q2 25 | -6.9% | 74.1% | ||
| Q1 25 | 39.0% | -5.1% | ||
| Q4 24 | — | -2.3% | ||
| Q3 24 | -12.1% | -126.1% | ||
| Q2 24 | -11.5% | -169.4% | ||
| Q1 24 | -21.6% | -18.7% |
每股收益（稀释后）REALRILY
| Q4 25 | $0.06 | $2.78 | ||
| Q3 25 | $-0.49 | $2.91 | ||
| Q2 25 | $-0.13 | $4.50 | ||
| Q1 25 | $-0.14 | $-0.39 | ||
| Q4 24 | $-0.57 | $-0.01 | ||
| Q3 24 | $-0.17 | $-9.39 | ||
| Q2 24 | $-0.20 | $-14.35 | ||
| Q1 24 | $-0.30 | $-1.71 |
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 | $226.6M |
| 总债务越低越好 | — | $1.4B |
| 股东权益账面价值 | $-415.5M | $-171.5M |
| 总资产 | $409.0M | $1.7B |
| 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REALRILY
| Q4 25 | $151.2M | $226.6M | ||
| Q3 25 | $108.4M | $184.2M | ||
| Q2 25 | $94.3M | $267.4M | ||
| Q1 25 | $139.6M | $138.3M | ||
| Q4 24 | $172.2M | $146.9M | ||
| Q3 24 | $153.2M | $159.2M | ||
| Q2 24 | $150.7M | $236.9M | ||
| Q1 24 | $166.0M | $190.7M |
总债务REALRILY
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益REALRILY
| Q4 25 | $-415.5M | $-171.5M | ||
| Q3 25 | $-385.1M | $-260.5M | ||
| Q2 25 | $-338.2M | $-351.7M | ||
| Q1 25 | $-336.1M | $-496.8M | ||
| Q4 24 | $-407.4M | $-488.2M | ||
| Q3 24 | $-345.4M | $-497.6M | ||
| Q2 24 | $-335.3M | $-218.3M | ||
| Q1 24 | $-327.1M | $228.4M |
总资产REALRILY
| Q4 25 | $409.0M | $1.7B | ||
| Q3 25 | $366.2M | $1.7B | ||
| Q2 25 | $349.4M | $1.5B | ||
| Q1 25 | $400.4M | $1.5B | ||
| Q4 24 | $423.1M | $1.8B | ||
| Q3 24 | $406.3M | $2.2B | ||
| Q2 24 | $407.4M | $3.2B | ||
| Q1 24 | $431.6M | $5.0B |
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 | $26.2M |
| 自由现金流经营现金流 - 资本支出 | $45.8M | — |
| 自由现金流率自由现金流/营收 | 23.6% | — |
| 资本支出强度资本支出/营收 | 1.9% | — |
| 现金转化率经营现金流/净利润 | — | 0.29× |
| 过去12个月自由现金流最近4个季度 | $18.4M | — |
8季度趋势，按日历期对齐
经营现金流REALRILY
| Q4 25 | $49.5M | $26.2M | ||
| Q3 25 | $19.3M | $-60.6M | ||
| Q2 25 | $-3.6M | $-25.6M | ||
| Q1 25 | $-28.3M | $184.0K | ||
| Q4 24 | $28.0M | $-2.7M | ||
| Q3 24 | $9.1M | $19.5M | ||
| Q2 24 | $-6.8M | $111.5M | ||
| Q1 24 | $-3.5M | $135.4M |
自由现金流REALRILY
| Q4 25 | $45.8M | — | ||
| Q3 25 | $16.9M | — | ||
| Q2 25 | $-11.4M | — | ||
| Q1 25 | $-33.0M | — | ||
| Q4 24 | $22.9M | — | ||
| Q3 24 | $5.0M | — | ||
| Q2 24 | $-9.8M | — | ||
| Q1 24 | $-5.6M | — |
自由现金流率REALRILY
| Q4 25 | 23.6% | — | ||
| Q3 25 | 9.7% | — | ||
| Q2 25 | -6.9% | — | ||
| Q1 25 | -20.6% | — | ||
| Q4 24 | 14.0% | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | -6.7% | — | ||
| Q1 24 | -3.9% | — |
资本支出强度REALRILY
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 4.7% | — | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 3.1% | — | ||
| Q3 24 | 2.7% | — | ||
| Q2 24 | 2.1% | — | ||
| Q1 24 | 1.5% | — |
现金转化率REALRILY
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | -0.66× | ||
| Q2 25 | — | -0.18× | ||
| Q1 25 | -0.45× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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
REAL
| Services | $149.0M | 77% |
| Products | $27.2M | 14% |
| Shipping And Handling | $17.8M | 9% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
