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Armada Hoffler Properties, Inc.（AHH）与Alexandria Real Estate Equities（ARE）财务数据对比。点击上方公司名可切换其他公司
Alexandria Real Estate Equities的季度营收约是Armada Hoffler Properties, Inc.的10.0倍（$754.4M vs $75.6M）。Armada Hoffler Properties, Inc.净利率更高（3.1% vs -143.3%，领先146.4%）。Armada Hoffler Properties, Inc.同比增速更快（0.8% vs -4.4%）。过去两年Alexandria Real Estate Equities的营收复合增速更高（-1.0% vs -22.8%）
Armada Hoffler Properties是一家公开上市的房地产投资信托，业务覆盖美国大西洋中部及东南部地区，开发、持有并运营涵盖办公、零售、多户住宅的多元化优质物业组合，同时为第三方客户提供全链条建筑开发服务。
Alexandria Real Estate Equities（NYSE:ARE）是标普500成分股中的城市办公类房地产投资信托，作为业内首创、运营经验最丰富的先行企业，专注于在顶级创新集群区域开发、运营生命科学、科技及农业科技协作型产业园区。截至2020年12月末，公司总市值达319亿美元，北美地区资产总面积达4970万平方英尺。
AHH vs ARE — 直观对比
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $75.6M | $754.4M |
| 净利润 | $2.4M | $-1.1B |
| 毛利率 | — | — |
| 营业利润率 | 31.0% | — |
| 净利率 | 3.1% | -143.3% |
| 营收同比 | 0.8% | -4.4% |
| 净利润同比 | -89.8% | -1636.5% |
| 每股收益（稀释后） | $0.00 | $-6.35 |
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
| Q4 25 | $75.6M | $754.4M | ||
| Q3 25 | $23.2M | $751.9M | ||
| Q2 25 | $32.0M | $762.0M | ||
| Q1 25 | $46.6M | $758.2M | ||
| Q4 24 | $75.0M | $788.9M | ||
| Q3 24 | $114.4M | $791.6M | ||
| Q2 24 | $116.8M | $766.7M | ||
| Q1 24 | $127.0M | $769.1M |
| Q4 25 | $2.4M | $-1.1B | ||
| Q3 25 | $80.0K | $-232.8M | ||
| Q2 25 | $5.9M | $-107.0M | ||
| Q1 25 | $-2.8M | $-8.9M | ||
| Q4 24 | $23.4M | $-62.2M | ||
| Q3 24 | $-5.0M | $167.9M | ||
| Q2 24 | $3.2M | $46.7M | ||
| Q1 24 | $14.1M | $170.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 45.0% | — | ||
| Q2 24 | 41.8% | — | ||
| Q1 24 | 37.9% | — |
| Q4 25 | 31.0% | — | ||
| Q3 25 | 91.5% | — | ||
| Q2 25 | 63.9% | — | ||
| Q1 25 | 33.8% | — | ||
| Q4 24 | 50.1% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 11.9% | — | ||
| Q1 24 | 15.1% | — |
| Q4 25 | 3.1% | -143.3% | ||
| Q3 25 | 0.3% | -31.0% | ||
| Q2 25 | 18.6% | -14.0% | ||
| Q1 25 | -6.0% | -1.2% | ||
| Q4 24 | 31.2% | -7.9% | ||
| Q3 24 | -4.4% | 21.2% | ||
| Q2 24 | 2.7% | 6.1% | ||
| Q1 24 | 11.1% | 22.2% |
| Q4 25 | $0.00 | $-6.35 | ||
| Q3 25 | $-0.04 | $-1.38 | ||
| Q2 25 | $0.04 | $-0.64 | ||
| Q1 25 | $-0.07 | $-0.07 | ||
| Q4 24 | $0.28 | $-0.38 | ||
| Q3 24 | $-0.11 | $0.96 | ||
| Q2 24 | $0.00 | $0.25 | ||
| Q1 24 | $0.17 | $0.97 |
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 | $49.1M | $549.1M |
| 总债务越低越好 | $1.5B | $12.4B |
| 股东权益账面价值 | $627.8M | $15.5B |
| 总资产 | $2.6B | $34.1B |
| 负债/权益比越低杠杆越低 | 2.43× | 0.80× |
8季度趋势，按日历期对齐
| Q4 25 | $49.1M | $549.1M | ||
| Q3 25 | $46.5M | $579.5M | ||
| Q2 25 | $52.1M | $520.5M | ||
| Q1 25 | $45.7M | $476.4M | ||
| Q4 24 | $31.9M | $552.1M | ||
| Q3 24 | $43.9M | $562.6M | ||
| Q2 24 | $20.3M | $561.0M | ||
| Q1 24 | $41.9M | $722.2M |
| Q4 25 | $1.5B | $12.4B | ||
| Q3 25 | $1.5B | $13.6B | ||
| Q2 25 | $1.4B | $13.3B | ||
| Q1 25 | $1.3B | $13.1B | ||
| Q4 24 | $1.3B | $12.2B | ||
| Q3 24 | $1.3B | $12.7B | ||
| Q2 24 | $1.4B | $12.4B | ||
| Q1 24 | $1.4B | $12.2B |
| Q4 25 | $627.8M | $15.5B | ||
| Q3 25 | $638.8M | $16.6B | ||
| Q2 25 | $652.0M | $17.2B | ||
| Q1 25 | $657.4M | $17.5B | ||
| Q4 24 | $670.6M | $17.9B | ||
| Q3 24 | $663.9M | $18.2B | ||
| Q2 24 | $562.7M | $18.3B | ||
| Q1 24 | $571.4M | $18.4B |
| Q4 25 | $2.6B | $34.1B | ||
| Q3 25 | $2.6B | $37.4B | ||
| Q2 25 | $2.6B | $37.6B | ||
| Q1 25 | $2.5B | $37.6B | ||
| Q4 24 | $2.5B | $37.5B | ||
| Q3 24 | $2.6B | $38.5B | ||
| Q2 24 | $2.6B | $37.8B | ||
| Q1 24 | $2.6B | $37.7B |
| Q4 25 | 2.43× | 0.80× | ||
| Q3 25 | 2.33× | 0.82× | ||
| Q2 25 | 2.22× | 0.77× | ||
| Q1 25 | 2.01× | 0.75× | ||
| Q4 24 | 1.93× | 0.68× | ||
| Q3 24 | 2.00× | 0.70× | ||
| Q2 24 | 2.52× | 0.68× | ||
| Q1 24 | 2.50× | 0.66× |
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 | — | $312.4M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | — | $312.4M | ||
| Q3 25 | $26.3M | $433.5M | ||
| Q2 25 | $11.1M | $460.2M | ||
| Q1 25 | $107.0K | $207.9M | ||
| Q4 24 | $20.8M | $274.2M | ||
| Q3 24 | $27.3M | $477.4M | ||
| Q2 24 | $17.4M | $411.8M | ||
| Q1 24 | $46.5M | $341.2M |
| Q4 25 | — | — | ||
| Q3 25 | 328.63× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | — | 2.84× | ||
| Q2 24 | 5.48× | 8.82× | ||
| Q1 24 | 3.30× | 2.00× |
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
AHH
| Office Real Estate Segment | $28.8M | 38% |
| Retail Real Estate Segment | $25.4M | 34% |
| Multifamily Residential Real Estate | $17.7M | 23% |
| Real Estate Financing Segment | $3.6M | 5% |
ARE
| Reportable Segment Aggregation Before Other Operating Segment | $707.2M | 94% |
| Other | $21.7M | 3% |
