vs
TheRealReal, Inc.（REAL）与null（SWIM）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null的1.7倍（$194.1M vs $117.3M），TheRealReal, Inc.同比增速更快（18.3% vs 5.3%），过去两年TheRealReal, Inc.的营收复合增速更高（16.2% vs -14.4%）
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。
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
REAL vs SWIM — 直观对比
营收规模更大
REAL
是对方的1.7倍
$117.3M
营收增速更快
REAL
高出13.0%
5.3%
两年增速更快
REAL
近两年复合增速
-14.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $194.1M | $117.3M |
| 净利润 | — | $-8.5M |
| 毛利率 | 74.8% | 31.7% |
| 营业利润率 | 3.2% | — |
| 净利率 | — | -7.3% |
| 营收同比 | 18.3% | 5.3% |
| 净利润同比 | — | -43.1% |
| 每股收益（稀释后） | $0.06 | $-0.07 |
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REALSWIM
| Q1 26 | — | $117.3M | ||
| Q4 25 | $194.1M | $100.0M | ||
| Q3 25 | $173.6M | $161.9M | ||
| Q2 25 | $165.2M | $172.6M | ||
| Q1 25 | $160.0M | $111.4M | ||
| Q4 24 | $164.0M | $87.3M | ||
| Q3 24 | $147.8M | $150.5M | ||
| Q2 24 | $144.9M | $160.1M |
净利润REALSWIM
| Q1 26 | — | $-8.5M | ||
| Q4 25 | — | $-7.0M | ||
| Q3 25 | $-54.1M | $8.1M | ||
| Q2 25 | $-11.4M | $16.0M | ||
| Q1 25 | $62.4M | $-6.0M | ||
| Q4 24 | — | $-29.2M | ||
| Q3 24 | $-17.9M | $5.9M | ||
| Q2 24 | $-16.7M | $13.3M |
毛利率REALSWIM
| Q1 26 | — | 31.7% | ||
| Q4 25 | 74.8% | 28.0% | ||
| Q3 25 | 74.3% | 35.4% | ||
| Q2 25 | 74.3% | 37.1% | ||
| Q1 25 | 75.0% | 29.5% | ||
| Q4 24 | 74.4% | 24.6% | ||
| Q3 24 | 74.9% | 32.4% | ||
| Q2 24 | 74.1% | 33.1% |
营业利润率REALSWIM
| Q1 26 | — | — | ||
| Q4 25 | 3.2% | -10.7% | ||
| Q3 25 | -4.3% | 13.3% | ||
| Q2 25 | -6.0% | 14.3% | ||
| Q1 25 | -8.0% | -4.4% | ||
| Q4 24 | -3.1% | -14.9% | ||
| Q3 24 | -9.9% | 8.9% | ||
| Q2 24 | -13.0% | 12.5% |
净利率REALSWIM
| Q1 26 | — | -7.3% | ||
| Q4 25 | — | -7.0% | ||
| Q3 25 | -31.1% | 5.0% | ||
| Q2 25 | -6.9% | 9.3% | ||
| Q1 25 | 39.0% | -5.4% | ||
| Q4 24 | — | -33.4% | ||
| Q3 24 | -12.1% | 3.9% | ||
| Q2 24 | -11.5% | 8.3% |
每股收益（稀释后）REALSWIM
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $0.06 | $-0.06 | ||
| Q3 25 | $-0.49 | $0.07 | ||
| Q2 25 | $-0.13 | $0.13 | ||
| Q1 25 | $-0.14 | $-0.05 | ||
| Q4 24 | $-0.57 | $-0.24 | ||
| Q3 24 | $-0.17 | $0.05 | ||
| Q2 24 | $-0.20 | $0.11 |
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 | — |
| 总债务越低越好 | — | $3.3M |
| 股东权益账面价值 | $-415.5M | $396.7M |
| 总资产 | $409.0M | $856.4M |
| 负债/权益比越低杠杆越低 | — | 0.01× |
8季度趋势，按日历期对齐
现金及短期投资REALSWIM
| Q1 26 | — | — | ||
| Q4 25 | $151.2M | — | ||
| Q3 25 | $108.4M | — | ||
| Q2 25 | $94.3M | — | ||
| Q1 25 | $139.6M | — | ||
| Q4 24 | $172.2M | — | ||
| Q3 24 | $153.2M | — | ||
| Q2 24 | $150.7M | — |
总债务REALSWIM
| Q1 26 | — | $3.3M | ||
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M |
股东权益REALSWIM
| Q1 26 | — | $396.7M | ||
| Q4 25 | $-415.5M | $405.9M | ||
| Q3 25 | $-385.1M | $408.4M | ||
| Q2 25 | $-338.2M | $398.4M | ||
| Q1 25 | $-336.1M | $381.1M | ||
| Q4 24 | $-407.4M | $387.2M | ||
| Q3 24 | $-345.4M | $416.6M | ||
| Q2 24 | $-335.3M | $408.1M |
总资产REALSWIM
| Q1 26 | — | $856.4M | ||
| Q4 25 | $409.0M | $823.2M | ||
| Q3 25 | $366.2M | $844.4M | ||
| Q2 25 | $349.4M | $822.1M | ||
| Q1 25 | $400.4M | $824.6M | ||
| Q4 24 | $423.1M | $794.2M | ||
| Q3 24 | $406.3M | $853.4M | ||
| Q2 24 | $407.4M | $830.0M |
负债/权益比REALSWIM
| Q1 26 | — | 0.01× | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× |
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 | $-47.7M |
| 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 | — | — |
| 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REALSWIM
| Q1 26 | — | $-47.7M | ||
| Q4 25 | $49.5M | $23.3M | ||
| Q3 25 | $19.3M | $51.0M | ||
| Q2 25 | $-3.6M | $36.0M | ||
| Q1 25 | $-28.3M | $-46.9M | ||
| Q4 24 | $28.0M | $6.2M | ||
| Q3 24 | $9.1M | $37.2M | ||
| Q2 24 | $-6.8M | $52.4M |
自由现金流REALSWIM
| Q1 26 | — | — | ||
| Q4 25 | $45.8M | $14.1M | ||
| Q3 25 | $16.9M | $45.2M | ||
| Q2 25 | $-11.4M | $29.1M | ||
| Q1 25 | $-33.0M | $-50.3M | ||
| Q4 24 | $22.9M | $-98.0K | ||
| Q3 24 | $5.0M | $33.2M | ||
| Q2 24 | $-9.8M | $47.9M |
自由现金流率REALSWIM
| Q1 26 | — | — | ||
| Q4 25 | 23.6% | 14.1% | ||
| Q3 25 | 9.7% | 27.9% | ||
| Q2 25 | -6.9% | 16.8% | ||
| Q1 25 | -20.6% | -45.2% | ||
| Q4 24 | 14.0% | -0.1% | ||
| Q3 24 | 3.4% | 22.1% | ||
| Q2 24 | -6.7% | 29.9% |
资本支出强度REALSWIM
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 9.2% | ||
| Q3 25 | 1.4% | 3.6% | ||
| Q2 25 | 4.7% | 4.0% | ||
| Q1 25 | 2.9% | 3.1% | ||
| Q4 24 | 3.1% | 7.2% | ||
| Q3 24 | 2.7% | 2.7% | ||
| Q2 24 | 2.1% | 2.8% |
现金转化率REALSWIM
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | -0.45× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× |
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% |
SWIM
暂无分部数据
