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American Healthcare REIT, Inc.（AHR）与Kinetik Holdings Inc.（KNTK）财务数据对比。点击上方公司名可切换其他公司
American Healthcare REIT, Inc.的季度营收约是Kinetik Holdings Inc.的1.3倍（$564.0M vs $430.4M），Kinetik Holdings Inc.净利率更高（96.8% vs 1.9%，领先94.9%），American Healthcare REIT, Inc.同比增速更快（13.5% vs 11.6%），过去两年Kinetik Holdings Inc.的营收复合增速更高（12.3% vs 11.7%）
本公司是一家国际医疗房地产投资信托基金（REIT），总部位于美国阿拉巴马州伯明翰，主要在美国及欧洲地区收购、投资医疗机构与营利性医疗控股企业，物业收购多采用售后回租模式，租户通常签署长期三净租约。
Kinetik Holdings Inc.是一家聚焦二叠纪盆地的中游能源基础设施供应商，为美国南部核心油气产区的上游作业方提供天然气收集、处理、运输、存储，以及原油、采出水处置等一体化服务。
AHR vs KNTK — 直观对比
营收规模更大
AHR
是对方的1.3倍
$430.4M
营收增速更快
AHR
高出1.9%
11.6%
净利率更高
KNTK
高出94.9%
1.9%
两年增速更快
KNTK
近两年复合增速
11.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $564.0M | $430.4M |
| 净利润 | $10.8M | $416.7M |
| 毛利率 | 14.8% | — |
| 营业利润率 | 19.8% | 11.2% |
| 净利率 | 1.9% | 96.8% |
| 营收同比 | 13.5% | 11.6% |
| 净利润同比 | 133.9% | 2468.4% |
| 每股收益（稀释后） | $0.07 | $2.22 |
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AHRKNTK
| Q4 25 | $564.0M | $430.4M | ||
| Q3 25 | $532.1M | $464.0M | ||
| Q2 25 | $501.3M | $426.7M | ||
| Q1 25 | $497.2M | $443.3M | ||
| Q4 24 | $496.8M | $385.7M | ||
| Q3 24 | $476.8M | $396.4M | ||
| Q2 24 | $458.0M | $359.5M | ||
| Q1 24 | $452.1M | $341.4M |
净利润AHRKNTK
| Q4 25 | $10.8M | $416.7M | ||
| Q3 25 | $55.9M | $5.3M | ||
| Q2 25 | $9.9M | $23.6M | ||
| Q1 25 | $-6.8M | $19.3M | ||
| Q4 24 | $-31.8M | $16.2M | ||
| Q3 24 | $-4.1M | $25.8M | ||
| Q2 24 | $2.0M | $37.2M | ||
| Q1 24 | $-3.9M | $233.6M |
毛利率AHRKNTK
| Q4 25 | 14.8% | — | ||
| Q3 25 | 14.6% | — | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | 13.0% | — | ||
| Q4 24 | 13.3% | — | ||
| Q3 24 | 12.5% | — | ||
| Q2 24 | 12.1% | — | ||
| Q1 24 | 10.7% | — |
营业利润率AHRKNTK
| Q4 25 | 19.8% | 11.2% | ||
| Q3 25 | 19.9% | 4.3% | ||
| Q2 25 | 20.6% | 18.2% | ||
| Q1 25 | 19.0% | 4.3% | ||
| Q4 24 | 20.0% | 6.1% | ||
| Q3 24 | 19.6% | 18.4% | ||
| Q2 24 | 19.4% | 15.7% | ||
| Q1 24 | 18.2% | 7.6% |
净利率AHRKNTK
| Q4 25 | 1.9% | 96.8% | ||
| Q3 25 | 10.5% | 1.1% | ||
| Q2 25 | 2.0% | 5.5% | ||
| Q1 25 | -1.4% | 4.3% | ||
| Q4 24 | -6.4% | 4.2% | ||
| Q3 24 | -0.9% | 6.5% | ||
| Q2 24 | 0.4% | 10.3% | ||
| Q1 24 | -0.9% | 68.4% |
每股收益（稀释后）AHRKNTK
| Q4 25 | $0.07 | $2.22 | ||
| Q3 25 | $0.33 | $0.03 | ||
| Q2 25 | $0.06 | $0.33 | ||
| Q1 25 | $-0.04 | $0.05 | ||
| Q4 24 | $-0.23 | $0.01 | ||
| Q3 24 | $-0.03 | $0.35 | ||
| Q2 24 | $0.01 | $0.54 | ||
| Q1 24 | $-0.04 | $0.12 |
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 | $114.8M | $4.0M |
| 总债务越低越好 | — | $3.6B |
| 股东权益账面价值 | $3.3B | $-565.4M |
| 总资产 | $5.4B | $7.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AHRKNTK
| Q4 25 | $114.8M | $4.0M | ||
| Q3 25 | $147.4M | $7.7M | ||
| Q2 25 | $133.5M | $10.7M | ||
| Q1 25 | $86.1M | $8.8M | ||
| Q4 24 | $76.7M | $3.6M | ||
| Q3 24 | $67.8M | $20.4M | ||
| Q2 24 | $52.1M | $12.5M | ||
| Q1 24 | $77.0M | $9.8M |
总债务AHRKNTK
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | — | $3.3B | ||
| Q1 24 | — | $3.5B |
股东权益AHRKNTK
| Q4 25 | $3.3B | $-565.4M | ||
| Q3 25 | $2.7B | $-1.8B | ||
| Q2 25 | $2.4B | $-1.6B | ||
| Q1 25 | $2.3B | $-2.5B | ||
| Q4 24 | $2.3B | $-3.0B | ||
| Q3 24 | $2.2B | $-1.7B | ||
| Q2 24 | $1.9B | $-1.2B | ||
| Q1 24 | $2.0B | $-973.4M |
总资产AHRKNTK
| Q4 25 | $5.4B | $7.1B | ||
| Q3 25 | $4.8B | $7.2B | ||
| Q2 25 | $4.5B | $7.2B | ||
| Q1 25 | $4.5B | $7.0B | ||
| Q4 24 | $4.5B | $6.8B | ||
| Q3 24 | $4.7B | $6.9B | ||
| Q2 24 | $4.6B | $6.9B | ||
| Q1 24 | $4.7B | $6.4B |
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 | $55.2M | $110.1M |
| 自由现金流经营现金流 - 资本支出 | — | $-24.0M |
| 自由现金流率自由现金流/营收 | — | -5.6% |
| 资本支出强度资本支出/营收 | — | 31.2% |
| 现金转化率经营现金流/净利润 | 5.12× | 0.26× |
| 过去12个月自由现金流最近4个季度 | — | $111.6M |
8季度趋势，按日历期对齐
经营现金流AHRKNTK
| Q4 25 | $55.2M | $110.1M | ||
| Q3 25 | $107.2M | $188.1M | ||
| Q2 25 | $71.5M | $129.1M | ||
| Q1 25 | $60.6M | $176.8M | ||
| Q4 24 | $59.5M | $144.0M | ||
| Q3 24 | $63.1M | $214.1M | ||
| Q2 24 | $59.4M | $125.5M | ||
| Q1 24 | $-6.0M | $153.7M |
自由现金流AHRKNTK
| Q4 25 | — | $-24.0M | ||
| Q3 25 | — | $31.6M | ||
| Q2 25 | — | $1.8M | ||
| Q1 25 | — | $102.3M | ||
| Q4 24 | — | $36.3M | ||
| Q3 24 | — | $155.7M | ||
| Q2 24 | — | $86.1M | ||
| Q1 24 | — | $95.7M |
自由现金流率AHRKNTK
| Q4 25 | — | -5.6% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 23.1% | ||
| Q4 24 | — | 9.4% | ||
| Q3 24 | — | 39.3% | ||
| Q2 24 | — | 24.0% | ||
| Q1 24 | — | 28.0% |
资本支出强度AHRKNTK
| Q4 25 | — | 31.2% | ||
| Q3 25 | — | 33.7% | ||
| Q2 25 | — | 29.8% | ||
| Q1 25 | — | 16.8% | ||
| Q4 24 | — | 27.9% | ||
| Q3 24 | — | 14.7% | ||
| Q2 24 | — | 11.0% | ||
| Q1 24 | — | 17.0% |
现金转化率AHRKNTK
| Q4 25 | 5.12× | 0.26× | ||
| Q3 25 | 1.92× | 35.73× | ||
| Q2 25 | 7.21× | 5.46× | ||
| Q1 25 | — | 9.18× | ||
| Q4 24 | — | 8.88× | ||
| Q3 24 | — | 8.31× | ||
| Q2 24 | 30.02× | 3.37× | ||
| Q1 24 | — | 0.66× |
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
AHR
| Integrated Senior Health Campuses | $467.0M | 83% |
| SHOP | $97.0M | 17% |
KNTK
| Natural Gas NG Ls And Condensate Sales | $325.5M | 76% |
| Gathering And Processing Services | $101.6M | 24% |
| Other | $3.3M | 1% |
| Barilla Draw | $2.3M | 1% |
