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ADT Inc.（ADT）与Host Hotels & Resorts（HST）财务数据对比。点击上方公司名可切换其他公司
Host Hotels & Resorts的季度营收约是ADT Inc.的1.3倍（$1.6B vs $1.3B），ADT Inc.净利率更高（11.4% vs 8.4%，领先3.0%），Host Hotels & Resorts同比增速更快（12.3% vs 2.9%），Host Hotels & Resorts自由现金流更多（$445.0M vs $323.5M），过去两年Host Hotels & Resorts的营收复合增速更高（4.4% 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。
Host Hotels & Resorts是总部位于美国马里兰州贝塞斯达的房地产投资信托企业，专注于高端酒店资产投资。截至2024年12月31日，公司在美国、巴西、加拿大共持有81家高端酒店，总客房数约4.34万间，是全球知名的酒店不动产投资机构。
ADT vs HST — 直观对比
营收规模更大
HST
是对方的1.3倍
$1.3B
营收增速更快
HST
高出9.4%
2.9%
净利率更高
ADT
高出3.0%
8.4%
自由现金流更多
HST
多$121.5M
$323.5M
两年增速更快
HST
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.6B |
| 净利润 | $145.4M | $135.0M |
| 毛利率 | — | — |
| 营业利润率 | 26.1% | 12.0% |
| 净利率 | 11.4% | 8.4% |
| 营收同比 | 2.9% | 12.3% |
| 净利润同比 | -23.5% | 25.0% |
| 每股收益（稀释后） | — | $0.20 |
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ADTHST
| Q4 25 | $1.3B | $1.6B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.3B | $1.6B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.2B | $1.5B | ||
| Q1 24 | $1.2B | $1.5B |
净利润ADTHST
| Q4 25 | $145.4M | $135.0M | ||
| Q3 25 | $145.1M | $161.0M | ||
| Q2 25 | $165.2M | $221.0M | ||
| Q1 25 | $140.2M | $248.0M | ||
| Q4 24 | $190.0M | $108.0M | ||
| Q3 24 | $127.2M | $82.0M | ||
| Q2 24 | $92.4M | $239.0M | ||
| Q1 24 | $91.6M | $268.0M |
营业利润率ADTHST
| Q4 25 | 26.1% | 12.0% | ||
| Q3 25 | 24.3% | 7.6% | ||
| Q2 25 | 26.6% | 17.5% | ||
| Q1 25 | 25.2% | 17.9% | ||
| Q4 24 | 32.4% | 11.0% | ||
| Q3 24 | 26.2% | 10.2% | ||
| Q2 24 | 23.6% | 19.9% | ||
| Q1 24 | 16.2% | 19.8% |
净利率ADTHST
| Q4 25 | 11.4% | 8.4% | ||
| Q3 25 | 11.2% | 12.1% | ||
| Q2 25 | 12.8% | 13.9% | ||
| Q1 25 | 11.1% | 15.6% | ||
| Q4 24 | 15.3% | 7.6% | ||
| Q3 24 | 10.2% | 6.2% | ||
| Q2 24 | 7.7% | 16.3% | ||
| Q1 24 | 7.6% | 18.2% |
每股收益（稀释后）ADTHST
| Q4 25 | — | $0.20 | ||
| Q3 25 | — | $0.23 | ||
| Q2 25 | — | $0.32 | ||
| Q1 25 | — | $0.35 | ||
| Q4 24 | — | $0.15 | ||
| Q3 24 | — | $0.12 | ||
| Q2 24 | — | $0.34 | ||
| Q1 24 | — | $0.38 |
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 | $768.0M |
| 总债务越低越好 | $7.4B | $1.3B |
| 股东权益账面价值 | $3.8B | $6.6B |
| 总资产 | $15.8B | $13.0B |
| 负债/权益比越低杠杆越低 | 1.95× | 0.19× |
8季度趋势，按日历期对齐
现金及短期投资ADTHST
| Q4 25 | $80.8M | $768.0M | ||
| Q3 25 | $62.8M | $539.0M | ||
| Q2 25 | $45.2M | $490.0M | ||
| Q1 25 | $3.7M | $428.0M | ||
| Q4 24 | $96.2M | $554.0M | ||
| Q3 24 | $95.3M | $564.0M | ||
| Q2 24 | $37.9M | $805.0M | ||
| Q1 24 | $4.0M | $1.3B |
总债务ADTHST
| Q4 25 | $7.4B | $1.3B | ||
| Q3 25 | $7.3B | — | ||
| Q2 25 | $6.8B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $7.5B | $896.0M | ||
| Q3 24 | $7.5B | — | ||
| Q2 24 | $7.5B | — | ||
| Q1 24 | $7.6B | — |
股东权益ADTHST
| Q4 25 | $3.8B | $6.6B | ||
| Q3 25 | $3.7B | $6.7B | ||
| Q2 25 | $3.7B | $6.6B | ||
| Q1 25 | $3.6B | $6.7B | ||
| Q4 24 | $3.8B | $6.6B | ||
| Q3 24 | $3.9B | $6.7B | ||
| Q2 24 | $3.8B | $6.8B | ||
| Q1 24 | $3.7B | $6.7B |
总资产ADTHST
| Q4 25 | $15.8B | $13.0B | ||
| Q3 25 | $16.0B | $13.0B | ||
| Q2 25 | $16.0B | $13.0B | ||
| Q1 25 | $15.8B | $12.9B | ||
| Q4 24 | $16.1B | $13.0B | ||
| Q3 24 | $16.1B | $13.1B | ||
| Q2 24 | $16.0B | $12.4B | ||
| Q1 24 | $15.9B | $12.5B |
负债/权益比ADTHST
| Q4 25 | 1.95× | 0.19× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.84× | — | ||
| Q1 25 | 2.10× | — | ||
| Q4 24 | 1.98× | 0.14× | ||
| Q3 24 | 1.93× | — | ||
| Q2 24 | 1.98× | — | ||
| Q1 24 | 2.03× | — |
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 | $543.0M |
| 自由现金流经营现金流 - 资本支出 | $323.5M | $445.0M |
| 自由现金流率自由现金流/营收 | 25.4% | 27.8% |
| 资本支出强度资本支出/营收 | 3.9% | 6.1% |
| 现金转化率经营现金流/净利润 | 2.57× | 4.02× |
| 过去12个月自由现金流最近4个季度 | $1.7B | $1.2B |
8季度趋势，按日历期对齐
经营现金流ADTHST
| Q4 25 | $373.6M | $543.0M | ||
| Q3 25 | $480.1M | $218.0M | ||
| Q2 25 | $563.9M | $444.0M | ||
| Q1 25 | $466.6M | $305.0M | ||
| Q4 24 | $459.7M | $331.0M | ||
| Q3 24 | $498.2M | $349.0M | ||
| Q2 24 | $563.2M | $453.0M | ||
| Q1 24 | $363.8M | $365.0M |
自由现金流ADTHST
| Q4 25 | $323.5M | $445.0M | ||
| Q3 25 | $437.4M | $143.0M | ||
| Q2 25 | $526.3M | $381.0M | ||
| Q1 25 | $421.2M | $259.0M | ||
| Q4 24 | $426.0M | $235.0M | ||
| Q3 24 | $455.5M | $262.0M | ||
| Q2 24 | $516.5M | $409.0M | ||
| Q1 24 | $323.1M | $332.0M |
自由现金流率ADTHST
| Q4 25 | 25.4% | 27.8% | ||
| Q3 25 | 33.7% | 10.7% | ||
| Q2 25 | 40.9% | 24.0% | ||
| Q1 25 | 33.2% | 16.2% | ||
| Q4 24 | 34.3% | 16.5% | ||
| Q3 24 | 36.6% | 19.9% | ||
| Q2 24 | 42.9% | 27.9% | ||
| Q1 24 | 26.7% | 22.6% |
资本支出强度ADTHST
| Q4 25 | 3.9% | 6.1% | ||
| Q3 25 | 3.3% | 5.6% | ||
| Q2 25 | 2.9% | 4.0% | ||
| Q1 25 | 3.6% | 2.9% | ||
| Q4 24 | 2.7% | 6.7% | ||
| Q3 24 | 3.4% | 6.6% | ||
| Q2 24 | 3.9% | 3.0% | ||
| Q1 24 | 3.4% | 2.2% |
现金转化率ADTHST
| Q4 25 | 2.57× | 4.02× | ||
| Q3 25 | 3.31× | 1.35× | ||
| Q2 25 | 3.41× | 2.01× | ||
| Q1 25 | 3.33× | 1.23× | ||
| Q4 24 | 2.42× | 3.06× | ||
| Q3 24 | 3.92× | 4.26× | ||
| Q2 24 | 6.10× | 1.90× | ||
| Q1 24 | 3.97× | 1.36× |
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% |
HST
暂无分部数据
