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ADT Inc.（ADT）与Healthpeak Properties（DOC）财务数据对比。点击上方公司名可切换其他公司
ADT Inc.的季度营收约是Healthpeak Properties的1.8倍（$1.3B vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 11.4%，领先61.8%），Healthpeak Properties同比增速更快（3.1% vs 2.9%），Healthpeak Properties自由现金流更多（$357.0M vs $323.5M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs 2.7%）
ADT Inc.是美国头部安防企业，总部位于佛罗里达州博卡拉顿，业务覆盖美国与加拿大，为住宅、小型商户提供电子安防、消防防护及相关报警监控服务。公司2016年被阿波罗全球管理以69亿美元杠杆收购，2018年1月于纽约证券交易所上市。
Healthpeak Properties是美国医疗地产领域的房地产投资信托基金，核心投资范畴覆盖老年住宅、生命科学相关物业及医疗办公楼三类资产。公司2007年于马里兰州组建，总部设在科罗拉多州丹佛市，在尔湾、纳什维尔、旧金山均设有办事处，截至2019年12月31日共持有617处物业的权益。
ADT vs DOC — 直观对比
营收规模更大
ADT
是对方的1.8倍
$719.4M
营收增速更快
DOC
高出0.2%
2.9%
净利率更高
DOC
高出61.8%
11.4%
自由现金流更多
DOC
多$33.5M
$323.5M
两年增速更快
DOC
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $719.4M |
| 净利润 | $145.4M | $114.0M |
| 毛利率 | — | — |
| 营业利润率 | 26.1% | 17.4% |
| 净利率 | 11.4% | 73.2% |
| 营收同比 | 2.9% | 3.1% |
| 净利润同比 | -23.5% | 2406.4% |
| 每股收益（稀释后） | — | $0.16 |
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ADTDOC
| Q4 25 | $1.3B | $719.4M | ||
| Q3 25 | $1.3B | $705.9M | ||
| Q2 25 | $1.3B | $694.3M | ||
| Q1 25 | $1.3B | $702.9M | ||
| Q4 24 | $1.2B | $698.0M | ||
| Q3 24 | $1.2B | $700.4M | ||
| Q2 24 | $1.2B | $695.5M | ||
| Q1 24 | $1.2B | $606.6M |
净利润ADTDOC
| Q4 25 | $145.4M | $114.0M | ||
| Q3 25 | $145.1M | $-117.1M | ||
| Q2 25 | $165.2M | $31.7M | ||
| Q1 25 | $140.2M | $42.8M | ||
| Q4 24 | $190.0M | $4.5M | ||
| Q3 24 | $127.2M | $85.9M | ||
| Q2 24 | $92.4M | $146.0M | ||
| Q1 24 | $91.6M | $6.7M |
毛利率ADTDOC
| Q4 25 | — | — | ||
| Q3 25 | — | 58.6% | ||
| Q2 25 | — | 60.2% | ||
| Q1 25 | — | 61.1% | ||
| Q4 24 | — | 60.3% | ||
| Q3 24 | — | 60.0% | ||
| Q2 24 | — | 60.6% | ||
| Q1 24 | — | 59.8% |
营业利润率ADTDOC
| Q4 25 | 26.1% | 17.4% | ||
| Q3 25 | 24.3% | 9.2% | ||
| Q2 25 | 26.6% | 5.7% | ||
| Q1 25 | 25.2% | 7.7% | ||
| Q4 24 | 32.4% | -2.2% | ||
| Q3 24 | 26.2% | 14.1% | ||
| Q2 24 | 23.6% | 22.3% | ||
| Q1 24 | 16.2% | 3.7% |
净利率ADTDOC
| Q4 25 | 11.4% | 73.2% | ||
| Q3 25 | 11.2% | -16.6% | ||
| Q2 25 | 12.8% | 4.6% | ||
| Q1 25 | 11.1% | 6.1% | ||
| Q4 24 | 15.3% | 0.7% | ||
| Q3 24 | 10.2% | 12.3% | ||
| Q2 24 | 7.7% | 21.0% | ||
| Q1 24 | 7.6% | 1.1% |
每股收益（稀释后）ADTDOC
| Q4 25 | — | $0.16 | ||
| Q3 25 | — | $-0.17 | ||
| Q2 25 | — | $0.05 | ||
| Q1 25 | — | $0.06 | ||
| Q4 24 | — | $0.02 | ||
| Q3 24 | — | $0.12 | ||
| Q2 24 | — | $0.21 | ||
| Q1 24 | — | $0.01 |
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 | $80.8M | $467.5M |
| 总债务越低越好 | $7.4B | $9.8B |
| 股东权益账面价值 | $3.8B | $7.5B |
| 总资产 | $15.8B | $20.3B |
| 负债/权益比越低杠杆越低 | 1.95× | 1.31× |
8季度趋势，按日历期对齐
现金及短期投资ADTDOC
| Q4 25 | $80.8M | $467.5M | ||
| Q3 25 | $62.8M | $91.0M | ||
| Q2 25 | $45.2M | $89.4M | ||
| Q1 25 | $3.7M | $70.6M | ||
| Q4 24 | $96.2M | $119.8M | ||
| Q3 24 | $95.3M | $180.4M | ||
| Q2 24 | $37.9M | $106.9M | ||
| Q1 24 | $4.0M | $101.8M |
总债务ADTDOC
| Q4 25 | $7.4B | $9.8B | ||
| Q3 25 | $7.3B | $9.1B | ||
| Q2 25 | $6.8B | $9.0B | ||
| Q1 25 | $7.6B | $8.9B | ||
| Q4 24 | $7.5B | $8.7B | ||
| Q3 24 | $7.5B | $8.6B | ||
| Q2 24 | $7.5B | $8.6B | ||
| Q1 24 | $7.6B | $8.8B |
股东权益ADTDOC
| Q4 25 | $3.8B | $7.5B | ||
| Q3 25 | $3.7B | $7.6B | ||
| Q2 25 | $3.7B | $7.9B | ||
| Q1 25 | $3.6B | $8.2B | ||
| Q4 24 | $3.8B | $8.4B | ||
| Q3 24 | $3.9B | $8.6B | ||
| Q2 24 | $3.8B | $8.8B | ||
| Q1 24 | $3.7B | $8.9B |
总资产ADTDOC
| Q4 25 | $15.8B | $20.3B | ||
| Q3 25 | $16.0B | $19.6B | ||
| Q2 25 | $16.0B | $19.8B | ||
| Q1 25 | $15.8B | $19.8B | ||
| Q4 24 | $16.1B | $19.9B | ||
| Q3 24 | $16.1B | $20.0B | ||
| Q2 24 | $16.0B | $20.2B | ||
| Q1 24 | $15.9B | $20.5B |
负债/权益比ADTDOC
| Q4 25 | 1.95× | 1.31× | ||
| Q3 25 | 1.99× | 1.20× | ||
| Q2 25 | 1.84× | 1.14× | ||
| Q1 25 | 2.10× | 1.08× | ||
| Q4 24 | 1.98× | 1.04× | ||
| Q3 24 | 1.93× | 1.00× | ||
| Q2 24 | 1.98× | 0.98× | ||
| Q1 24 | 2.03× | 0.99× |
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 | $373.6M | $1.3B |
| 自由现金流经营现金流 - 资本支出 | $323.5M | $357.0M |
| 自由现金流率自由现金流/营收 | 25.4% | 49.6% |
| 资本支出强度资本支出/营收 | 3.9% | 124.4% |
| 现金转化率经营现金流/净利润 | 2.57× | 10.99× |
| 过去12个月自由现金流最近4个季度 | $1.7B | — |
8季度趋势，按日历期对齐
经营现金流ADTDOC
| Q4 25 | $373.6M | $1.3B | ||
| Q3 25 | $480.1M | $315.0M | ||
| Q2 25 | $563.9M | $363.5M | ||
| Q1 25 | $466.6M | $279.4M | ||
| Q4 24 | $459.7M | $1.1B | ||
| Q3 24 | $498.2M | $318.2M | ||
| Q2 24 | $563.2M | $316.2M | ||
| Q1 24 | $363.8M | $152.6M |
自由现金流ADTDOC
| Q4 25 | $323.5M | $357.0M | ||
| Q3 25 | $437.4M | — | ||
| Q2 25 | $526.3M | — | ||
| Q1 25 | $421.2M | — | ||
| Q4 24 | $426.0M | $333.7M | ||
| Q3 24 | $455.5M | — | ||
| Q2 24 | $516.5M | — | ||
| Q1 24 | $323.1M | — |
自由现金流率ADTDOC
| Q4 25 | 25.4% | 49.6% | ||
| Q3 25 | 33.7% | — | ||
| Q2 25 | 40.9% | — | ||
| Q1 25 | 33.2% | — | ||
| Q4 24 | 34.3% | 47.8% | ||
| Q3 24 | 36.6% | — | ||
| Q2 24 | 42.9% | — | ||
| Q1 24 | 26.7% | — |
资本支出强度ADTDOC
| Q4 25 | 3.9% | 124.4% | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | 2.7% | 105.6% | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 3.9% | — | ||
| Q1 24 | 3.4% | — |
现金转化率ADTDOC
| Q4 25 | 2.57× | 10.99× | ||
| Q3 25 | 3.31× | — | ||
| Q2 25 | 3.41× | 11.48× | ||
| Q1 25 | 3.33× | 6.52× | ||
| Q4 24 | 2.42× | 235.43× | ||
| Q3 24 | 3.92× | 3.71× | ||
| Q2 24 | 6.10× | 2.17× | ||
| Q1 24 | 3.97× | 22.85× |
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
ADT
| Recurring Monthly Revenue | $1.0B | 82% |
| Installation Revenue | $103.0M | 8% |
| Other | $89.9M | 7% |
| Other Related Services | $36.0M | 3% |
DOC
暂无分部数据
