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AGREE REALTY CORP（ADC）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AGREE REALTY CORP的2.3倍（$455.0M vs $200.8M）。American Homes 4 Rent净利率更高（31.7% vs 31.0%，领先0.7%）。AGREE REALTY CORP同比增速更快（18.7% vs 4.2%）。过去两年AGREE REALTY CORP的营收复合增速更高（14.7% vs 3.6%）
杜克房地产是总部位于美国印第安纳州印第安纳波利斯的工业地产投资信托基金（REIT），主营工业类物业投资。截至2021年12月31日，公司持有或共同控制548处以工业用途为主的物业，可出租总面积达1.627亿平方英尺，2022年10月被普洛斯收购。
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。
ADC vs AMH — 直观对比
营收规模更大
AMH
是对方的2.3倍
$200.8M
营收增速更快
ADC
高出14.5%
4.2%
净利率更高
AMH
高出0.7%
31.0%
两年增速更快
ADC
近两年复合增速
3.6%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $200.8M | $455.0M |
| 净利润 | $62.2M | $144.3M |
| 毛利率 | — | — |
| 营业利润率 | 49.1% | — |
| 净利率 | 31.0% | 31.7% |
| 营收同比 | 18.7% | 4.2% |
| 净利润同比 | 32.0% | 0.3% |
| 每股收益（稀释后） | $1.04 | $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ADCAMH
| Q1 26 | $200.8M | — | ||
| Q4 25 | $190.5M | $455.0M | ||
| Q3 25 | $183.2M | $478.5M | ||
| Q2 25 | $175.5M | $457.5M | ||
| Q1 25 | $169.2M | $459.3M | ||
| Q4 24 | $160.7M | $436.6M | ||
| Q3 24 | $154.3M | $445.1M | ||
| Q2 24 | $152.6M | $423.5M |
净利润ADCAMH
| Q1 26 | $62.2M | — | ||
| Q4 25 | $56.0M | $144.3M | ||
| Q3 25 | $52.1M | $116.8M | ||
| Q2 25 | $49.2M | $123.6M | ||
| Q1 25 | $47.0M | $128.7M | ||
| Q4 24 | $45.2M | $143.9M | ||
| Q3 24 | $44.4M | $87.6M | ||
| Q2 24 | $54.7M | $108.5M |
营业利润率ADCAMH
| Q1 26 | 49.1% | — | ||
| Q4 25 | 48.5% | — | ||
| Q3 25 | 47.6% | — | ||
| Q2 25 | 46.7% | — | ||
| Q1 25 | 46.5% | — | ||
| Q4 24 | 46.9% | — | ||
| Q3 24 | 48.2% | — | ||
| Q2 24 | 53.7% | — |
净利率ADCAMH
| Q1 26 | 31.0% | — | ||
| Q4 25 | 29.4% | 31.7% | ||
| Q3 25 | 28.4% | 24.4% | ||
| Q2 25 | 28.0% | 27.0% | ||
| Q1 25 | 27.8% | 28.0% | ||
| Q4 24 | 28.1% | 33.0% | ||
| Q3 24 | 28.8% | 19.7% | ||
| Q2 24 | 35.9% | 25.6% |
每股收益（稀释后）ADCAMH
| Q1 26 | $1.04 | — | ||
| Q4 25 | $0.47 | $0.33 | ||
| Q3 25 | $0.45 | $0.27 | ||
| Q2 25 | $0.43 | $0.28 | ||
| Q1 25 | $0.42 | $0.30 | ||
| Q4 24 | $0.41 | $0.33 | ||
| Q3 24 | $0.42 | $0.20 | ||
| Q2 24 | $0.52 | $0.25 |
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 | $25.1M | $108.5M |
| 总债务越低越好 | — | $5.1B |
| 股东权益账面价值 | $6.2B | $7.0B |
| 总资产 | $10.2B | $13.2B |
| 负债/权益比越低杠杆越低 | — | 0.72× |
8季度趋势，按日历期对齐
现金及短期投资ADCAMH
| Q1 26 | $25.1M | — | ||
| Q4 25 | $16.3M | $108.5M | ||
| Q3 25 | $13.7M | $45.6M | ||
| Q2 25 | $5.8M | $323.3M | ||
| Q1 25 | $7.9M | $69.7M | ||
| Q4 24 | $6.4M | $199.4M | ||
| Q3 24 | $13.2M | $162.5M | ||
| Q2 24 | $9.6M | $718.4M |
总债务ADCAMH
| Q1 26 | — | — | ||
| Q4 25 | — | $5.1B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $5.2B | ||
| Q1 25 | — | $4.9B | ||
| Q4 24 | — | $5.0B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $5.0B |
股东权益ADCAMH
| Q1 26 | $6.2B | — | ||
| Q4 25 | $6.3B | $7.0B | ||
| Q3 25 | $5.9B | $7.2B | ||
| Q2 25 | $5.7B | $7.2B | ||
| Q1 25 | $5.6B | $7.2B | ||
| Q4 24 | $5.5B | $7.2B | ||
| Q3 24 | $5.3B | $7.0B | ||
| Q2 24 | $5.2B | $7.0B |
总资产ADCAMH
| Q1 26 | $10.2B | — | ||
| Q4 25 | $9.8B | $13.2B | ||
| Q3 25 | $9.5B | $13.3B | ||
| Q2 25 | $9.1B | $13.6B | ||
| Q1 25 | $8.8B | $13.3B | ||
| Q4 24 | $8.5B | $13.4B | ||
| Q3 24 | $8.2B | $12.8B | ||
| Q2 24 | $8.0B | $13.3B |
负债/权益比ADCAMH
| Q1 26 | — | — | ||
| Q4 25 | — | 0.72× | ||
| Q3 25 | — | 0.68× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.70× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.71× |
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 | — | $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ADCAMH
| Q1 26 | — | — | ||
| Q4 25 | $111.3M | $145.8M | ||
| Q3 25 | $146.5M | $223.3M | ||
| Q2 25 | $119.6M | $271.9M | ||
| Q1 25 | $126.7M | $223.4M | ||
| Q4 24 | $91.4M | $102.2M | ||
| Q3 24 | $140.5M | $233.6M | ||
| Q2 24 | $97.0M | $274.0M |
自由现金流ADCAMH
| Q1 26 | — | — | ||
| Q4 25 | — | $135.5M | ||
| Q3 25 | — | $214.5M | ||
| Q2 25 | — | $257.7M | ||
| Q1 25 | — | $215.9M | ||
| Q4 24 | $-251.2M | $97.9M | ||
| Q3 24 | $-75.5M | $225.3M | ||
| Q2 24 | $-90.6M | $263.3M |
自由现金流率ADCAMH
| Q1 26 | — | — | ||
| Q4 25 | — | 29.8% | ||
| Q3 25 | — | 44.8% | ||
| Q2 25 | — | 56.3% | ||
| Q1 25 | — | 47.0% | ||
| Q4 24 | -156.3% | 22.4% | ||
| Q3 24 | -48.9% | 50.6% | ||
| Q2 24 | -59.4% | 62.2% |
资本支出强度ADCAMH
| Q1 26 | — | — | ||
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | 213.1% | 1.0% | ||
| Q3 24 | 140.0% | 1.9% | ||
| Q2 24 | 123.0% | 2.5% |
现金转化率ADCAMH
| Q1 26 | — | — | ||
| Q4 25 | 1.99× | 1.01× | ||
| Q3 25 | 2.81× | 1.91× | ||
| Q2 25 | 2.43× | 2.20× | ||
| Q1 25 | 2.70× | 1.74× | ||
| Q4 24 | 2.02× | 0.71× | ||
| Q3 24 | 3.17× | 2.67× | ||
| Q2 24 | 1.77× | 2.52× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
