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Armada Hoffler Properties, Inc.（AHH）与Crown Castle（CCI）财务数据对比。点击上方公司名可切换其他公司
Crown Castle的季度营收约是Armada Hoffler Properties, Inc.的13.4倍（$1.0B vs $75.6M）。Crown Castle净利率更高（77.2% vs 3.1%，领先74.1%）。Armada Hoffler Properties, Inc.同比增速更快（0.8% vs -4.8%）。过去两年Crown Castle的营收复合增速更高（368.6% 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。
Crown Castle Inc.是总部位于美国得克萨斯州休斯敦的房地产投资信托企业，同时是美国共享通信基础设施服务商，在全球设有100个办事处，旗下拥有超4万座信号塔、约8.5万英里光纤线路，为小基站及光纤系统提供网络支撑。
AHH vs CCI — 直观对比
营收规模更大
CCI
是对方的13.4倍
$75.6M
营收增速更快
AHH
高出5.6%
-4.8%
净利率更高
CCI
高出74.1%
3.1%
两年增速更快
CCI
近两年复合增速
-22.8%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $75.6M | $1.0B |
| 净利润 | $2.4M | $780.0M |
| 毛利率 | — | — |
| 营业利润率 | 31.0% | — |
| 净利率 | 3.1% | 77.2% |
| 营收同比 | 0.8% | -4.8% |
| 净利润同比 | -89.8% | 76.0% |
| 每股收益（稀释后） | $0.00 | $1.80 |
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AHHCCI
| Q1 26 | — | $1.0B | ||
| Q4 25 | $75.6M | $53.0M | ||
| Q3 25 | $23.2M | $60.0M | ||
| Q2 25 | $32.0M | $52.0M | ||
| Q1 25 | $46.6M | $50.0M | ||
| Q4 24 | $75.0M | $52.0M | ||
| Q3 24 | $114.4M | $59.0M | ||
| Q2 24 | $116.8M | $46.0M |
净利润AHHCCI
| Q1 26 | — | $780.0M | ||
| Q4 25 | $2.4M | $294.0M | ||
| Q3 25 | $80.0K | $323.0M | ||
| Q2 25 | $5.9M | $291.0M | ||
| Q1 25 | $-2.8M | $-464.0M | ||
| Q4 24 | $23.4M | $-4.8B | ||
| Q3 24 | $-5.0M | $303.0M | ||
| Q2 24 | $3.2M | $251.0M |
毛利率AHHCCI
| Q1 26 | — | — | ||
| Q4 25 | — | 47.2% | ||
| Q3 25 | — | 50.0% | ||
| Q2 25 | — | 48.1% | ||
| Q1 25 | — | 44.0% | ||
| Q4 24 | — | 46.2% | ||
| Q3 24 | 45.0% | 49.2% | ||
| Q2 24 | 41.8% | 41.3% |
营业利润率AHHCCI
| Q1 26 | — | — | ||
| Q4 25 | 31.0% | — | ||
| Q3 25 | 91.5% | — | ||
| Q2 25 | 63.9% | — | ||
| Q1 25 | 33.8% | — | ||
| Q4 24 | 50.1% | -8663.5% | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 11.9% | — |
净利率AHHCCI
| Q1 26 | — | 77.2% | ||
| Q4 25 | 3.1% | 554.7% | ||
| Q3 25 | 0.3% | 538.3% | ||
| Q2 25 | 18.6% | 559.6% | ||
| Q1 25 | -6.0% | -928.0% | ||
| Q4 24 | 31.2% | -9169.2% | ||
| Q3 24 | -4.4% | 513.6% | ||
| Q2 24 | 2.7% | 545.7% |
每股收益（稀释后）AHHCCI
| Q1 26 | — | $1.80 | ||
| Q4 25 | $0.00 | $0.67 | ||
| Q3 25 | $-0.04 | $0.74 | ||
| Q2 25 | $0.04 | $0.67 | ||
| Q1 25 | $-0.07 | $-1.07 | ||
| Q4 24 | $0.28 | $-10.97 | ||
| Q3 24 | $-0.11 | $0.70 | ||
| Q2 24 | $0.00 | $0.58 |
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 | $55.0K |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $627.8M | — |
| 总资产 | $2.6B | $31.4M |
| 负债/权益比越低杠杆越低 | 2.43× | — |
8季度趋势，按日历期对齐
现金及短期投资AHHCCI
| Q1 26 | — | $55.0K | ||
| Q4 25 | $49.1M | $99.0M | ||
| Q3 25 | $46.5M | $57.0M | ||
| Q2 25 | $52.1M | $94.0M | ||
| Q1 25 | $45.7M | $60.0M | ||
| Q4 24 | $31.9M | $119.0M | ||
| Q3 24 | $43.9M | $194.0M | ||
| Q2 24 | $20.3M | $155.0M |
总债务AHHCCI
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $21.6B | ||
| Q3 25 | $1.5B | $21.6B | ||
| Q2 25 | $1.4B | $22.0B | ||
| Q1 25 | $1.3B | $22.9B | ||
| Q4 24 | $1.3B | $23.5B | ||
| Q3 24 | $1.3B | $23.5B | ||
| Q2 24 | $1.4B | $22.9B |
股东权益AHHCCI
| Q1 26 | — | — | ||
| Q4 25 | $627.8M | $-1.6B | ||
| Q3 25 | $638.8M | $-1.5B | ||
| Q2 25 | $652.0M | $-1.4B | ||
| Q1 25 | $657.4M | $-1.3B | ||
| Q4 24 | $670.6M | $-133.0M | ||
| Q3 24 | $663.9M | $5.3B | ||
| Q2 24 | $562.7M | $5.7B |
总资产AHHCCI
| Q1 26 | — | $31.4M | ||
| Q4 25 | $2.6B | $31.5B | ||
| Q3 25 | $2.6B | $31.5B | ||
| Q2 25 | $2.6B | $31.6B | ||
| Q1 25 | $2.5B | $31.8B | ||
| Q4 24 | $2.5B | $32.7B | ||
| Q3 24 | $2.6B | $38.0B | ||
| Q2 24 | $2.6B | $38.2B |
负债/权益比AHHCCI
| Q1 26 | — | — | ||
| Q4 25 | 2.43× | — | ||
| Q3 25 | 2.33× | — | ||
| Q2 25 | 2.22× | — | ||
| Q1 25 | 2.01× | — | ||
| Q4 24 | 1.93× | — | ||
| Q3 24 | 2.00× | 4.43× | ||
| Q2 24 | 2.52× | 4.04× |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | — | $-43.0M |
| 自由现金流率自由现金流/营收 | — | -4.3% |
| 资本支出强度资本支出/营收 | — | 14.9% |
| 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 | — | $2.2B |
8季度趋势，按日历期对齐
经营现金流AHHCCI
| Q1 26 | — | — | ||
| Q4 25 | — | $870.0M | ||
| Q3 25 | $26.3M | $714.0M | ||
| Q2 25 | $11.1M | $832.0M | ||
| Q1 25 | $107.0K | $641.0M | ||
| Q4 24 | $20.8M | $877.0M | ||
| Q3 24 | $27.3M | $699.0M | ||
| Q2 24 | $17.4M | $768.0M |
自由现金流AHHCCI
| Q1 26 | — | $-43.0M | ||
| Q4 25 | — | $811.0M | ||
| Q3 25 | — | $671.0M | ||
| Q2 25 | — | $792.0M | ||
| Q1 25 | — | $601.0M | ||
| Q4 24 | — | $601.0M | ||
| Q3 24 | — | $402.0M | ||
| Q2 24 | — | $439.0M |
自由现金流率AHHCCI
| Q1 26 | — | -4.3% | ||
| Q4 25 | — | 1530.2% | ||
| Q3 25 | — | 1118.3% | ||
| Q2 25 | — | 1523.1% | ||
| Q1 25 | — | 1202.0% | ||
| Q4 24 | — | 1155.8% | ||
| Q3 24 | — | 681.4% | ||
| Q2 24 | — | 954.3% |
资本支出强度AHHCCI
| Q1 26 | — | 14.9% | ||
| Q4 25 | — | 111.3% | ||
| Q3 25 | — | 71.7% | ||
| Q2 25 | — | 76.9% | ||
| Q1 25 | — | 80.0% | ||
| Q4 24 | — | 530.8% | ||
| Q3 24 | — | 503.4% | ||
| Q2 24 | — | 715.2% |
现金转化率AHHCCI
| Q1 26 | — | — | ||
| Q4 25 | — | 2.96× | ||
| Q3 25 | 328.63× | 2.21× | ||
| Q2 25 | 1.87× | 2.86× | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | — | 2.31× | ||
| Q2 24 | 5.48× | 3.06× |
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% |
CCI
| Site rental | $961.0M | 95% |
| Services and other | $49.0M | 5% |
