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TheRealReal, Inc.（REAL）与Rapid7, Inc.（RPD）财务数据对比。点击上方公司名可切换其他公司
Rapid7, Inc.的季度营收约是TheRealReal, Inc.的1.1倍（$217.4M vs $194.1M），TheRealReal, Inc.同比增速更快（18.3% vs 0.5%），TheRealReal, Inc.自由现金流更多（$45.8M vs $36.4M），过去两年TheRealReal, Inc.的营收复合增速更高（16.2% vs 3.0%）
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。
Rapid7是全球领先的网络安全企业，提供漏洞管理、威胁检测与响应、云安全、安全分析等全系列安全解决方案，服务全球科技、医疗、金融、制造等行业的各类规模企业及公共部门客户，助力客户高效识别、应对和缓解网络安全风险。
REAL vs RPD — 直观对比
营收规模更大
RPD
是对方的1.1倍
$194.1M
营收增速更快
REAL
高出17.8%
0.5%
自由现金流更多
REAL
多$9.4M
$36.4M
两年增速更快
REAL
近两年复合增速
3.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $194.1M | $217.4M |
| 净利润 | — | $3.1M |
| 毛利率 | 74.8% | 68.9% |
| 营业利润率 | 3.2% | 1.0% |
| 净利率 | — | 1.4% |
| 营收同比 | 18.3% | 0.5% |
| 净利润同比 | — | 44.1% |
| 每股收益（稀释后） | $0.06 | $0.05 |
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REALRPD
| Q4 25 | $194.1M | $217.4M | ||
| Q3 25 | $173.6M | $218.0M | ||
| Q2 25 | $165.2M | $214.2M | ||
| Q1 25 | $160.0M | $210.3M | ||
| Q4 24 | $164.0M | $216.3M | ||
| Q3 24 | $147.8M | $214.7M | ||
| Q2 24 | $144.9M | $208.0M | ||
| Q1 24 | $143.8M | $205.1M |
净利润REALRPD
| Q4 25 | — | $3.1M | ||
| Q3 25 | $-54.1M | $9.8M | ||
| Q2 25 | $-11.4M | $8.3M | ||
| Q1 25 | $62.4M | $2.1M | ||
| Q4 24 | — | $2.2M | ||
| Q3 24 | $-17.9M | $15.4M | ||
| Q2 24 | $-16.7M | $6.5M | ||
| Q1 24 | $-31.1M | $1.4M |
毛利率REALRPD
| Q4 25 | 74.8% | 68.9% | ||
| Q3 25 | 74.3% | 70.2% | ||
| Q2 25 | 74.3% | 70.6% | ||
| Q1 25 | 75.0% | 71.7% | ||
| Q4 24 | 74.4% | 69.5% | ||
| Q3 24 | 74.9% | 70.6% | ||
| Q2 24 | 74.1% | 70.7% | ||
| Q1 24 | 74.6% | 70.3% |
营业利润率REALRPD
| Q4 25 | 3.2% | 1.0% | ||
| Q3 25 | -4.3% | 2.7% | ||
| Q2 25 | -6.0% | 1.6% | ||
| Q1 25 | -8.0% | -0.0% | ||
| Q4 24 | -3.1% | 3.4% | ||
| Q3 24 | -9.9% | 6.0% | ||
| Q2 24 | -13.0% | 2.5% | ||
| Q1 24 | -12.5% | 4.7% |
净利率REALRPD
| Q4 25 | — | 1.4% | ||
| Q3 25 | -31.1% | 4.5% | ||
| Q2 25 | -6.9% | 3.9% | ||
| Q1 25 | 39.0% | 1.0% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | -12.1% | 7.2% | ||
| Q2 24 | -11.5% | 3.1% | ||
| Q1 24 | -21.6% | 0.7% |
每股收益（稀释后）REALRPD
| Q4 25 | $0.06 | $0.05 | ||
| Q3 25 | $-0.49 | $0.15 | ||
| Q2 25 | $-0.13 | $0.13 | ||
| Q1 25 | $-0.14 | $0.03 | ||
| Q4 24 | $-0.57 | $0.08 | ||
| Q3 24 | $-0.17 | $0.21 | ||
| Q2 24 | $-0.20 | $0.09 | ||
| Q1 24 | $-0.30 | $0.02 |
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 | $474.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-415.5M | $154.7M |
| 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REALRPD
| Q4 25 | $151.2M | $474.7M | ||
| Q3 25 | $108.4M | $407.1M | ||
| Q2 25 | $94.3M | $511.7M | ||
| Q1 25 | $139.6M | $493.5M | ||
| Q4 24 | $172.2M | $521.7M | ||
| Q3 24 | $153.2M | $443.7M | ||
| Q2 24 | $150.7M | $442.6M | ||
| Q1 24 | $166.0M | $411.7M |
股东权益REALRPD
| Q4 25 | $-415.5M | $154.7M | ||
| Q3 25 | $-385.1M | $127.2M | ||
| Q2 25 | $-338.2M | $90.4M | ||
| Q1 25 | $-336.1M | $52.7M | ||
| Q4 24 | $-407.4M | $17.7M | ||
| Q3 24 | $-345.4M | $-5.1M | ||
| Q2 24 | $-335.3M | $-52.6M | ||
| Q1 24 | $-327.1M | $-86.4M |
总资产REALRPD
| Q4 25 | $409.0M | $1.7B | ||
| Q3 25 | $366.2M | $1.7B | ||
| Q2 25 | $349.4M | $1.6B | ||
| Q1 25 | $400.4M | $1.6B | ||
| Q4 24 | $423.1M | $1.7B | ||
| Q3 24 | $406.3M | $1.6B | ||
| Q2 24 | $407.4M | $1.5B | ||
| Q1 24 | $431.6M | $1.5B |
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 | $37.6M |
| 自由现金流经营现金流 - 资本支出 | $45.8M | $36.4M |
| 自由现金流率自由现金流/营收 | 23.6% | 16.8% |
| 资本支出强度资本支出/营收 | 1.9% | 0.5% |
| 现金转化率经营现金流/净利润 | — | 12.01× |
| 过去12个月自由现金流最近4个季度 | $18.4M | $146.2M |
8季度趋势，按日历期对齐
经营现金流REALRPD
| Q4 25 | $49.5M | $37.6M | ||
| Q3 25 | $19.3M | $39.0M | ||
| Q2 25 | $-3.6M | $47.5M | ||
| Q1 25 | $-28.3M | $29.8M | ||
| Q4 24 | $28.0M | $63.8M | ||
| Q3 24 | $9.1M | $44.0M | ||
| Q2 24 | $-6.8M | $32.9M | ||
| Q1 24 | $-3.5M | $31.1M |
自由现金流REALRPD
| Q4 25 | $45.8M | $36.4M | ||
| Q3 25 | $16.9M | $34.8M | ||
| Q2 25 | $-11.4M | $46.6M | ||
| Q1 25 | $-33.0M | $28.4M | ||
| Q4 24 | $22.9M | $62.6M | ||
| Q3 24 | $5.0M | $42.6M | ||
| Q2 24 | $-9.8M | $32.6M | ||
| Q1 24 | $-5.6M | $30.4M |
自由现金流率REALRPD
| Q4 25 | 23.6% | 16.8% | ||
| Q3 25 | 9.7% | 16.0% | ||
| Q2 25 | -6.9% | 21.8% | ||
| Q1 25 | -20.6% | 13.5% | ||
| Q4 24 | 14.0% | 28.9% | ||
| Q3 24 | 3.4% | 19.9% | ||
| Q2 24 | -6.7% | 15.7% | ||
| Q1 24 | -3.9% | 14.8% |
资本支出强度REALRPD
| Q4 25 | 1.9% | 0.5% | ||
| Q3 25 | 1.4% | 1.9% | ||
| Q2 25 | 4.7% | 0.4% | ||
| Q1 25 | 2.9% | 0.6% | ||
| Q4 24 | 3.1% | 0.5% | ||
| Q3 24 | 2.7% | 0.6% | ||
| Q2 24 | 2.1% | 0.1% | ||
| Q1 24 | 1.5% | 0.3% |
现金转化率REALRPD
| Q4 25 | — | 12.01× | ||
| Q3 25 | — | 3.97× | ||
| Q2 25 | — | 5.70× | ||
| Q1 25 | -0.45× | 14.14× | ||
| Q4 24 | — | 29.36× | ||
| Q3 24 | — | 2.85× | ||
| Q2 24 | — | 5.03× | ||
| Q1 24 | — | 22.10× |
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% |
RPD
| Products | $209.1M | 96% |
| Services | $8.2M | 4% |
