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Ares Commercial Real Estate Corp（ACRE）与American Homes 4 Rent（AMH）财务数据对比。点击上方公司名可切换其他公司
American Homes 4 Rent的季度营收约是Ares Commercial Real Estate Corp的34.4倍（$455.0M vs $13.2M）。American Homes 4 Rent净利率更高（31.7% vs -29.2%，领先61.0%）。American Homes 4 Rent同比增速更快（4.2% vs -24.5%）。过去两年American Homes 4 Rent的营收复合增速更高（3.6% vs -15.9%）
Ares Commercial Real Estate Corp是隶属于阿瑞斯管理集团的专业金融企业，专注于商业地产领域，提供优先抵押贷款、次级债务、优先股投资等各类定制化融资解决方案，主要服务覆盖美国全境的中型商业地产所有者及运营主体。
AMH（American Homes 4 Rent）是总部位于美国内华达州拉斯维加斯的住宅房地产投资信托基金，主打单户住宅租赁业务。截至2019年12月31日，公司在全美22个州共持有52552套住宅，资产主要集中在亚特兰大、达拉斯-沃斯堡及北卡罗来纳州夏洛特地区。
ACRE vs AMH — 直观对比
营收规模更大
AMH
是对方的34.4倍
$13.2M
营收增速更快
AMH
高出28.7%
-24.5%
净利率更高
AMH
高出61.0%
-29.2%
两年增速更快
AMH
近两年复合增速
-15.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $13.2M | $455.0M |
| 净利润 | $-3.9M | $144.3M |
| 毛利率 | — | — |
| 营业利润率 | -29.2% | — |
| 净利率 | -29.2% | 31.7% |
| 营收同比 | -24.5% | 4.2% |
| 净利润同比 | 63.8% | 0.3% |
| 每股收益（稀释后） | — | $0.33 |
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ACREAMH
| Q4 25 | $13.2M | $455.0M | ||
| Q3 25 | $14.1M | $478.5M | ||
| Q2 25 | $12.6M | $457.5M | ||
| Q1 25 | $14.9M | $459.3M | ||
| Q4 24 | $17.5M | $436.6M | ||
| Q3 24 | $16.7M | $445.1M | ||
| Q2 24 | $16.8M | $423.5M | ||
| Q1 24 | $18.7M | $423.6M |
净利润ACREAMH
| Q4 25 | $-3.9M | $144.3M | ||
| Q3 25 | $4.7M | $116.8M | ||
| Q2 25 | $-11.0M | $123.6M | ||
| Q1 25 | $9.3M | $128.7M | ||
| Q4 24 | $-10.7M | $143.9M | ||
| Q3 24 | $-5.9M | $87.6M | ||
| Q2 24 | $-6.1M | $108.5M | ||
| Q1 24 | $-12.3M | $128.1M |
营业利润率ACREAMH
| Q4 25 | -29.2% | — | ||
| Q3 25 | 33.0% | — | ||
| Q2 25 | -87.8% | — | ||
| Q1 25 | 64.4% | — | ||
| Q4 24 | -61.0% | — | ||
| Q3 24 | -35.3% | — | ||
| Q2 24 | -36.5% | — | ||
| Q1 24 | -65.9% | — |
净利率ACREAMH
| Q4 25 | -29.2% | 31.7% | ||
| Q3 25 | 33.0% | 24.4% | ||
| Q2 25 | -87.8% | 27.0% | ||
| Q1 25 | 62.5% | 28.0% | ||
| Q4 24 | -60.9% | 33.0% | ||
| Q3 24 | -35.3% | 19.7% | ||
| Q2 24 | -36.5% | 25.6% | ||
| Q1 24 | -65.9% | 30.2% |
每股收益（稀释后）ACREAMH
| Q4 25 | — | $0.33 | ||
| Q3 25 | — | $0.27 | ||
| Q2 25 | — | $0.28 | ||
| Q1 25 | — | $0.30 | ||
| Q4 24 | — | $0.33 | ||
| Q3 24 | — | $0.20 | ||
| Q2 24 | — | $0.25 | ||
| Q1 24 | — | $0.30 |
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 | $29.3M | $108.5M |
| 总债务越低越好 | $948.2M | $5.1B |
| 股东权益账面价值 | $509.6M | $7.0B |
| 总资产 | $1.6B | $13.2B |
| 负债/权益比越低杠杆越低 | 1.86× | 0.72× |
8季度趋势，按日历期对齐
现金及短期投资ACREAMH
| Q4 25 | $29.3M | $108.5M | ||
| Q3 25 | $84.9M | $45.6M | ||
| Q2 25 | $90.0M | $323.3M | ||
| Q1 25 | $125.5M | $69.7M | ||
| Q4 24 | $63.8M | $199.4M | ||
| Q3 24 | $68.9M | $162.5M | ||
| Q2 24 | $70.6M | $718.4M | ||
| Q1 24 | $99.5M | $124.8M |
总债务ACREAMH
| Q4 25 | $948.2M | $5.1B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $5.2B | ||
| Q1 25 | — | $4.9B | ||
| Q4 24 | $718.5M | $5.0B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $5.0B | ||
| Q1 24 | — | $4.5B |
股东权益ACREAMH
| Q4 25 | $509.6M | $7.0B | ||
| Q3 25 | $521.0M | $7.2B | ||
| Q2 25 | $523.7M | $7.2B | ||
| Q1 25 | $542.1M | $7.2B | ||
| Q4 24 | $540.1M | $7.2B | ||
| Q3 24 | $563.8M | $7.0B | ||
| Q2 24 | $582.3M | $7.0B | ||
| Q1 24 | $601.1M | $7.0B |
总资产ACREAMH
| Q4 25 | $1.6B | $13.2B | ||
| Q3 25 | $1.4B | $13.3B | ||
| Q2 25 | $1.4B | $13.6B | ||
| Q1 25 | $1.5B | $13.3B | ||
| Q4 24 | $1.8B | $13.4B | ||
| Q3 24 | $1.9B | $12.8B | ||
| Q2 24 | $2.1B | $13.3B | ||
| Q1 24 | $2.1B | $12.8B |
负债/权益比ACREAMH
| Q4 25 | 1.86× | 0.72× | ||
| Q3 25 | — | 0.68× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | 1.33× | 0.70× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.71× | ||
| Q1 24 | — | 0.64× |
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 | $4.6M | $145.8M |
| 自由现金流经营现金流 - 资本支出 | — | $135.5M |
| 自由现金流率自由现金流/营收 | — | 29.8% |
| 资本支出强度资本支出/营收 | — | 2.3% |
| 现金转化率经营现金流/净利润 | — | 1.01× |
| 过去12个月自由现金流最近4个季度 | — | $823.7M |
8季度趋势，按日历期对齐
经营现金流ACREAMH
| Q4 25 | $4.6M | $145.8M | ||
| Q3 25 | $3.8M | $223.3M | ||
| Q2 25 | $4.9M | $271.9M | ||
| Q1 25 | $8.0M | $223.4M | ||
| Q4 24 | $7.1M | $102.2M | ||
| Q3 24 | $8.4M | $233.6M | ||
| Q2 24 | $8.7M | $274.0M | ||
| Q1 24 | $11.4M | $201.8M |
自由现金流ACREAMH
| Q4 25 | — | $135.5M | ||
| Q3 25 | — | $214.5M | ||
| Q2 25 | — | $257.7M | ||
| Q1 25 | — | $215.9M | ||
| Q4 24 | — | $97.9M | ||
| Q3 24 | — | $225.3M | ||
| Q2 24 | — | $263.3M | ||
| Q1 24 | — | $191.0M |
自由现金流率ACREAMH
| Q4 25 | — | 29.8% | ||
| Q3 25 | — | 44.8% | ||
| Q2 25 | — | 56.3% | ||
| Q1 25 | — | 47.0% | ||
| Q4 24 | — | 22.4% | ||
| Q3 24 | — | 50.6% | ||
| Q2 24 | — | 62.2% | ||
| Q1 24 | — | 45.1% |
资本支出强度ACREAMH
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 2.5% | ||
| Q1 24 | — | 2.6% |
现金转化率ACREAMH
| Q4 25 | — | 1.01× | ||
| Q3 25 | 0.82× | 1.91× | ||
| Q2 25 | — | 2.20× | ||
| Q1 25 | 0.86× | 1.74× | ||
| Q4 24 | — | 0.71× | ||
| Q3 24 | — | 2.67× | ||
| Q2 24 | — | 2.52× | ||
| Q1 24 | — | 1.58× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
