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Real Brokerage Inc（REAX）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
Real Brokerage Inc的季度营收约是世纪互联的1.6倍（$568.5M vs $362.7M），Real Brokerage Inc净利率更高（-0.1% vs -10.7%，领先10.6%），Real Brokerage Inc自由现金流更多（$8.4M vs $-193.1M）
该企业是美国房产服务企业，主营房产经纪业务运营与品牌特许经营，业务覆盖房产中介、 relocation服务、产权服务、保险及结算服务，旗下拥有Better Homes and Gardens Real Estate、21世纪不动产、Coldwell Banker、Corcoran Group、ERA房地产以及苏富比国际地产等多个知名品牌，2026年被Compass, Inc.收购。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
REAX vs VNET — 直观对比
营收规模更大
REAX
是对方的1.6倍
$362.7M
净利率更高
REAX
高出10.6%
-10.7%
自由现金流更多
REAX
多$201.5M
$-193.1M
损益表 — Q3 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $568.5M | $362.7M |
| 净利润 | $-447.0K | $-38.7M |
| 毛利率 | 7.9% | 20.9% |
| 营业利润率 | -0.1% | 0.5% |
| 净利率 | -0.1% | -10.7% |
| 营收同比 | 52.6% | — |
| 净利润同比 | 82.7% | — |
| 每股收益（稀释后） | $0.00 | — |
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REAXVNET
| Q3 25 | $568.5M | $362.7M | ||
| Q2 25 | $540.7M | — | ||
| Q1 25 | $354.0M | $309.5M | ||
| Q3 24 | $372.5M | $302.2M | ||
| Q2 24 | — | $274.4M | ||
| Q1 24 | $200.7M | $262.9M | ||
| Q3 23 | — | $258.6M | ||
| Q2 23 | — | $251.2M |
净利润REAXVNET
| Q3 25 | $-447.0K | $-38.7M | ||
| Q2 25 | $1.5M | — | ||
| Q1 25 | $-5.0M | $-2.4M | ||
| Q3 24 | $-2.6M | $-2.1M | ||
| Q2 24 | — | $-1.1M | ||
| Q1 24 | $-16.1M | $-22.0M | ||
| Q3 23 | — | $-5.5M | ||
| Q2 23 | — | — |
毛利率REAXVNET
| Q3 25 | 7.9% | 20.9% | ||
| Q2 25 | 8.9% | — | ||
| Q1 25 | 9.6% | 25.2% | ||
| Q3 24 | 8.6% | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | 10.3% | 21.6% | ||
| Q3 23 | — | 16.2% | ||
| Q2 23 | — | 18.8% |
营业利润率REAXVNET
| Q3 25 | -0.1% | 0.5% | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | -1.5% | 0.1% | ||
| Q3 24 | -0.7% | 24.5% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | -7.8% | 0.2% | ||
| Q3 23 | — | 1.7% | ||
| Q2 23 | — | 5.1% |
净利率REAXVNET
| Q3 25 | -0.1% | -10.7% | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | -1.4% | -0.8% | ||
| Q3 24 | -0.7% | -0.7% | ||
| Q2 24 | — | -0.4% | ||
| Q1 24 | -8.0% | -8.4% | ||
| Q3 23 | — | -2.1% | ||
| Q2 23 | — | — |
每股收益（稀释后）REAXVNET
| Q3 25 | $0.00 | — | ||
| Q2 25 | $0.01 | — | ||
| Q1 25 | $-0.02 | — | ||
| Q3 24 | $-0.01 | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $-0.09 | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — |
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 | $38.7M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $53.6M | $890.8M |
| 总资产 | $145.2M | $6.1B |
| 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REAXVNET
| Q3 25 | $38.7M | $492.1M | ||
| Q2 25 | $49.7M | — | ||
| Q1 25 | $24.7M | $544.3M | ||
| Q3 24 | $22.6M | $219.5M | ||
| Q2 24 | — | $247.2M | ||
| Q1 24 | $20.1M | $246.9M | ||
| Q3 23 | — | $370.4M | ||
| Q2 23 | — | $325.9M |
总债务REAXVNET
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — |
股东权益REAXVNET
| Q3 25 | $53.6M | $890.8M | ||
| Q2 25 | $49.2M | — | ||
| Q1 25 | $32.8M | $927.8M | ||
| Q3 24 | $29.8M | $902.9M | ||
| Q2 24 | — | $900.6M | ||
| Q1 24 | $25.6M | $895.1M | ||
| Q3 23 | — | $942.7M | ||
| Q2 23 | — | $952.6M |
总资产REAXVNET
| Q3 25 | $145.2M | $6.1B | ||
| Q2 25 | $149.4M | — | ||
| Q1 25 | $100.5M | $5.4B | ||
| Q3 24 | $102.5M | $4.3B | ||
| Q2 24 | — | $4.0B | ||
| Q1 24 | — | $3.9B | ||
| Q3 23 | — | $4.1B | ||
| Q2 23 | — | $4.0B |
负债/权益比REAXVNET
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — |
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 | $8.8M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $8.4M | $-193.1M |
| 自由现金流率自由现金流/营收 | 1.5% | -53.2% |
| 资本支出强度资本支出/营收 | 0.1% | 84.6% |
| 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 | $71.7M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流REAXVNET
| Q3 25 | $8.8M | $113.8M | ||
| Q2 25 | $41.0M | — | ||
| Q1 25 | $15.9M | $27.0M | ||
| Q3 24 | $7.2M | $108.3M | ||
| Q2 24 | — | $55.8M | ||
| Q1 24 | $21.5M | $37.1M | ||
| Q3 23 | — | $62.3M | ||
| Q2 23 | — | $58.4M |
自由现金流REAXVNET
| Q3 25 | $8.4M | $-193.1M | ||
| Q2 25 | $40.8M | — | ||
| Q1 25 | $15.7M | $-220.0M | ||
| Q3 24 | $6.8M | $-95.0M | ||
| Q2 24 | — | $-81.6M | ||
| Q1 24 | $21.4M | $-102.2M | ||
| Q3 23 | — | $-67.5M | ||
| Q2 23 | — | $4.0M |
自由现金流率REAXVNET
| Q3 25 | 1.5% | -53.2% | ||
| Q2 25 | 7.5% | — | ||
| Q1 25 | 4.4% | -71.1% | ||
| Q3 24 | 1.8% | -31.4% | ||
| Q2 24 | — | -29.8% | ||
| Q1 24 | 10.7% | -38.9% | ||
| Q3 23 | — | -26.1% | ||
| Q2 23 | — | 1.6% |
资本支出强度REAXVNET
| Q3 25 | 0.1% | 84.6% | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.1% | 79.8% | ||
| Q3 24 | 0.1% | 67.3% | ||
| Q2 24 | — | 50.1% | ||
| Q1 24 | 0.0% | 53.0% | ||
| Q3 23 | — | 50.2% | ||
| Q2 23 | — | 21.7% |
现金转化率REAXVNET
| Q3 25 | — | — | ||
| Q2 25 | 27.13× | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
