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Real Brokerage Inc（REAX）与Walker & Dunlop, Inc.（WD）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Walker & Dunlop, Inc.的1.7倍（$568.5M vs $340.0M），Real Brokerage Inc净利率更高（-0.1% vs -12.9%，领先12.8%），Real Brokerage Inc同比增速更快（52.6% vs -0.4%），Real Brokerage Inc自由现金流更多（$8.4M vs $-680.1M）
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。
Walker & Dunlop, Inc.是美国乃至全球规模领先的商业地产金融与咨询服务机构，为客户提供覆盖商业地产领域的多元金融解决方案及专业咨询服务，业务辐射全球多个市场，在行业内拥有深厚的资源积累与广泛的市场认可度。
REAX vs WD — 直观对比
营收规模更大
REAX
是对方的1.7倍
$340.0M
营收增速更快
REAX
高出53.1%
-0.4%
净利率更高
REAX
高出12.8%
-12.9%
自由现金流更多
REAX
多$688.5M
$-680.1M
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $568.5M | $340.0M |
| 净利润 | $-447.0K | $-13.9M |
| 毛利率 | 7.9% | — |
| 营业利润率 | -0.1% | -17.2% |
| 净利率 | -0.1% | -12.9% |
| 营收同比 | 52.6% | -0.4% |
| 净利润同比 | 82.7% | -131.0% |
| 每股收益（稀释后） | $0.00 | $-0.41 |
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REAXWD
| Q4 25 | — | $340.0M | ||
| Q3 25 | $568.5M | $337.7M | ||
| Q2 25 | $540.7M | $319.2M | ||
| Q1 25 | $354.0M | $237.4M | ||
| Q4 24 | — | $341.5M | ||
| Q3 24 | $372.5M | $292.3M | ||
| Q2 24 | — | $270.7M | ||
| Q1 24 | $200.7M | $228.1M |
净利润REAXWD
| Q4 25 | — | $-13.9M | ||
| Q3 25 | $-447.0K | $33.5M | ||
| Q2 25 | $1.5M | $34.0M | ||
| Q1 25 | $-5.0M | $2.8M | ||
| Q4 24 | — | $44.8M | ||
| Q3 24 | $-2.6M | $28.8M | ||
| Q2 24 | — | $22.7M | ||
| Q1 24 | $-16.1M | $11.9M |
毛利率REAXWD
| Q4 25 | — | — | ||
| Q3 25 | 7.9% | — | ||
| Q2 25 | 8.9% | — | ||
| Q1 25 | 9.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 8.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 10.3% | — |
营业利润率REAXWD
| Q4 25 | — | -17.2% | ||
| Q3 25 | -0.1% | 13.6% | ||
| Q2 25 | 0.3% | 14.5% | ||
| Q1 25 | -1.5% | 2.2% | ||
| Q4 24 | — | 15.3% | ||
| Q3 24 | -0.7% | 12.8% | ||
| Q2 24 | — | 10.4% | ||
| Q1 24 | -7.8% | 6.0% |
净利率REAXWD
| Q4 25 | — | -12.9% | ||
| Q3 25 | -0.1% | 9.9% | ||
| Q2 25 | 0.3% | 10.6% | ||
| Q1 25 | -1.4% | 1.2% | ||
| Q4 24 | — | 13.1% | ||
| Q3 24 | -0.7% | 9.9% | ||
| Q2 24 | — | 8.4% | ||
| Q1 24 | -8.0% | 5.2% |
每股收益（稀释后）REAXWD
| Q4 25 | — | $-0.41 | ||
| Q3 25 | $0.00 | $0.98 | ||
| Q2 25 | $0.01 | $0.99 | ||
| Q1 25 | $-0.02 | $0.08 | ||
| Q4 24 | — | $1.32 | ||
| Q3 24 | $-0.01 | $0.85 | ||
| Q2 24 | — | $0.67 | ||
| Q1 24 | $-0.09 | $0.35 |
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 | $299.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $53.6M | $1.7B |
| 总资产 | $145.2M | $5.1B |
| 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REAXWD
| Q4 25 | — | $299.3M | ||
| Q3 25 | $38.7M | $274.8M | ||
| Q2 25 | $49.7M | $233.7M | ||
| Q1 25 | $24.7M | $181.0M | ||
| Q4 24 | — | $279.3M | ||
| Q3 24 | $22.6M | $179.8M | ||
| Q2 24 | — | $208.1M | ||
| Q1 24 | $20.1M | $216.5M |
股东权益REAXWD
| Q4 25 | — | $1.7B | ||
| Q3 25 | $53.6M | $1.8B | ||
| Q2 25 | $49.2M | $1.8B | ||
| Q1 25 | $32.8M | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $29.8M | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | $25.6M | $1.7B |
总资产REAXWD
| Q4 25 | — | $5.1B | ||
| Q3 25 | $145.2M | $5.8B | ||
| Q2 25 | $149.4M | $4.7B | ||
| Q1 25 | $100.5M | $4.5B | ||
| Q4 24 | — | $4.4B | ||
| Q3 24 | $102.5M | $4.6B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $3.8B |
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 | $-664.3M |
| 自由现金流经营现金流 - 资本支出 | $8.4M | $-680.1M |
| 自由现金流率自由现金流/营收 | 1.5% | -200.0% |
| 资本支出强度资本支出/营收 | 0.1% | 4.6% |
| 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 | $-2.2B |
8季度趋势，按日历期对齐
经营现金流REAXWD
| Q4 25 | — | $-664.3M | ||
| Q3 25 | $8.8M | $-948.1M | ||
| Q2 25 | $41.0M | $-238.5M | ||
| Q1 25 | $15.9M | $-281.1M | ||
| Q4 24 | — | $129.4M | ||
| Q3 24 | $7.2M | $-202.0M | ||
| Q2 24 | — | $-237.8M | ||
| Q1 24 | $21.5M | $38.4M |
自由现金流REAXWD
| Q4 25 | — | $-680.1M | ||
| Q3 25 | $8.4M | $-950.4M | ||
| Q2 25 | $40.8M | $-241.0M | ||
| Q1 25 | $15.7M | $-284.7M | ||
| Q4 24 | — | $116.4M | ||
| Q3 24 | $6.8M | $-204.0M | ||
| Q2 24 | — | $-241.7M | ||
| Q1 24 | $21.4M | $35.2M |
自由现金流率REAXWD
| Q4 25 | — | -200.0% | ||
| Q3 25 | 1.5% | -281.5% | ||
| Q2 25 | 7.5% | -75.5% | ||
| Q1 25 | 4.4% | -120.0% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | 1.8% | -69.8% | ||
| Q2 24 | — | -89.3% | ||
| Q1 24 | 10.7% | 15.4% |
资本支出强度REAXWD
| Q4 25 | — | 4.6% | ||
| Q3 25 | 0.1% | 0.7% | ||
| Q2 25 | 0.0% | 0.8% | ||
| Q1 25 | 0.1% | 1.5% | ||
| Q4 24 | — | 3.8% | ||
| Q3 24 | 0.1% | 0.7% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | 0.0% | 1.4% |
现金转化率REAXWD
| Q4 25 | — | — | ||
| Q3 25 | — | -28.34× | ||
| Q2 25 | 27.13× | -7.02× | ||
| Q1 25 | — | -102.07× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | — | -10.49× | ||
| Q1 24 | — | 3.24× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
