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爱齐科技（ALGN）与Healthpeak Properties（DOC）财务数据对比。点击上方公司名可切换其他公司
爱齐科技的季度营收约是Healthpeak Properties的1.5倍（$1.0B vs $702.9M），Healthpeak Properties净利率更高（51.6% vs 10.8%，领先40.8%），爱齐科技同比增速更快（6.2% vs -6.6%），过去两年爱齐科技的营收复合增速更高（0.6% vs 0.5%）
爱齐科技是一家全球知名医疗设备企业，主营设计、生产及销售隐适美透明矫治器、iTero口内扫描仪及配套服务，客户覆盖正畸医师、全科牙医，面向修复、美容牙科领域，业务分为透明矫治器、扫描仪及服务两大板块，可满足青少年等不同群体的正畸需求
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。
ALGN vs DOC — 直观对比
营收规模更大
ALGN
是对方的1.5倍
$702.9M
营收增速更快
ALGN
高出12.9%
-6.6%
净利率更高
DOC
高出40.8%
10.8%
两年增速更快
ALGN
近两年复合增速
0.5%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $702.9M |
| 净利润 | $112.8M | $363.0M |
| 毛利率 | 70.8% | — |
| 营业利润率 | 13.6% | 0.7% |
| 净利率 | 10.8% | 51.6% |
| 营收同比 | 6.2% | -6.6% |
| 净利润同比 | 21.0% | 28.3% |
| 每股收益（稀释后） | $1.57 | $0.28 |
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ALGNDOC
| Q1 26 | $1.0B | $702.9M | ||
| Q4 25 | $1.0B | $719.4M | ||
| Q3 25 | $995.7M | $705.9M | ||
| Q2 25 | $1.0B | $694.3M | ||
| Q1 25 | $979.3M | $702.9M | ||
| Q4 24 | $995.2M | $698.0M | ||
| Q3 24 | $977.9M | $700.4M | ||
| Q2 24 | $1.0B | $695.5M |
净利润ALGNDOC
| Q1 26 | $112.8M | $363.0M | ||
| Q4 25 | $135.8M | $114.0M | ||
| Q3 25 | $56.8M | $-117.1M | ||
| Q2 25 | $124.6M | $31.7M | ||
| Q1 25 | $93.2M | $42.8M | ||
| Q4 24 | $103.8M | $4.5M | ||
| Q3 24 | $116.0M | $85.9M | ||
| Q2 24 | $96.6M | $146.0M |
毛利率ALGNDOC
| Q1 26 | 70.8% | — | ||
| Q4 25 | 65.3% | — | ||
| Q3 25 | 64.2% | 58.6% | ||
| Q2 25 | 69.9% | 60.2% | ||
| Q1 25 | 69.5% | 61.1% | ||
| Q4 24 | 70.0% | 60.3% | ||
| Q3 24 | 69.7% | 60.0% | ||
| Q2 24 | 70.3% | 60.6% |
营业利润率ALGNDOC
| Q1 26 | 13.6% | 0.7% | ||
| Q4 25 | 14.8% | 17.4% | ||
| Q3 25 | 9.7% | 9.2% | ||
| Q2 25 | 16.1% | 5.7% | ||
| Q1 25 | 13.4% | 7.7% | ||
| Q4 24 | 14.5% | -2.2% | ||
| Q3 24 | 16.6% | 14.1% | ||
| Q2 24 | 14.3% | 22.3% |
净利率ALGNDOC
| Q1 26 | 10.8% | 51.6% | ||
| Q4 25 | 13.0% | 73.2% | ||
| Q3 25 | 5.7% | -16.6% | ||
| Q2 25 | 12.3% | 4.6% | ||
| Q1 25 | 9.5% | 6.1% | ||
| Q4 24 | 10.4% | 0.7% | ||
| Q3 24 | 11.9% | 12.3% | ||
| Q2 24 | 9.4% | 21.0% |
每股收益（稀释后）ALGNDOC
| Q1 26 | $1.57 | $0.28 | ||
| Q4 25 | $1.88 | $0.16 | ||
| Q3 25 | $0.78 | $-0.17 | ||
| Q2 25 | $1.72 | $0.05 | ||
| Q1 25 | $1.27 | $0.06 | ||
| Q4 24 | $1.40 | $0.02 | ||
| Q3 24 | $1.55 | $0.12 | ||
| Q2 24 | $1.28 | $0.21 |
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 | $1.1B | $-1.2B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.1B | $7.8B |
| 总资产 | $6.3B | $21.6B |
| 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ALGNDOC
| Q1 26 | $1.1B | $-1.2B | ||
| Q4 25 | $1.1B | $467.5M | ||
| Q3 25 | $1.0B | $91.0M | ||
| Q2 25 | $901.2M | $89.4M | ||
| Q1 25 | $873.0M | $70.6M | ||
| Q4 24 | $1.0B | $119.8M | ||
| Q3 24 | $1.0B | $180.4M | ||
| Q2 24 | $761.4M | $106.9M |
总债务ALGNDOC
| Q1 26 | — | — | ||
| Q4 25 | — | $9.8B | ||
| Q3 25 | — | $9.1B | ||
| Q2 25 | — | $9.0B | ||
| Q1 25 | — | $8.9B | ||
| Q4 24 | — | $8.7B | ||
| Q3 24 | — | $8.6B | ||
| Q2 24 | — | $8.6B |
股东权益ALGNDOC
| Q1 26 | $4.1B | $7.8B | ||
| Q4 25 | $4.0B | $7.5B | ||
| Q3 25 | $4.0B | $7.6B | ||
| Q2 25 | $3.9B | $7.9B | ||
| Q1 25 | $3.8B | $8.2B | ||
| Q4 24 | $3.9B | $8.4B | ||
| Q3 24 | $3.9B | $8.6B | ||
| Q2 24 | $3.8B | $8.8B |
总资产ALGNDOC
| Q1 26 | $6.3B | $21.6B | ||
| Q4 25 | $6.2B | $20.3B | ||
| Q3 25 | $6.2B | $19.6B | ||
| Q2 25 | $6.2B | $19.8B | ||
| Q1 25 | $6.1B | $19.8B | ||
| Q4 24 | $6.2B | $19.9B | ||
| Q3 24 | $6.4B | $20.0B | ||
| Q2 24 | $6.2B | $20.2B |
负债/权益比ALGNDOC
| Q1 26 | — | — | ||
| Q4 25 | — | 1.31× | ||
| Q3 25 | — | 1.20× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | — | 1.08× | ||
| Q4 24 | — | 1.04× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 0.98× |
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 | $151.0M | — |
| 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 | — | 3.4% |
| 现金转化率经营现金流/净利润 | 1.34× | — |
| 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
经营现金流ALGNDOC
| Q1 26 | $151.0M | — | ||
| Q4 25 | $223.2M | $1.3B | ||
| Q3 25 | $188.7M | $315.0M | ||
| Q2 25 | $128.7M | $363.5M | ||
| Q1 25 | $52.7M | $279.4M | ||
| Q4 24 | $286.1M | $1.1B | ||
| Q3 24 | $263.7M | $318.2M | ||
| Q2 24 | $159.8M | $316.2M |
自由现金流ALGNDOC
| Q1 26 | — | — | ||
| Q4 25 | $187.3M | $357.0M | ||
| Q3 25 | $169.0M | — | ||
| Q2 25 | $107.2M | — | ||
| Q1 25 | $27.4M | — | ||
| Q4 24 | $263.1M | $333.7M | ||
| Q3 24 | $233.9M | — | ||
| Q2 24 | $106.4M | — |
自由现金流率ALGNDOC
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | 49.6% | ||
| Q3 25 | 17.0% | — | ||
| Q2 25 | 10.6% | — | ||
| Q1 25 | 2.8% | — | ||
| Q4 24 | 26.4% | 47.8% | ||
| Q3 24 | 23.9% | — | ||
| Q2 24 | 10.3% | — |
资本支出强度ALGNDOC
| Q1 26 | — | 3.4% | ||
| Q4 25 | 3.4% | 124.4% | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | 2.3% | 105.6% | ||
| Q3 24 | 3.0% | — | ||
| Q2 24 | 5.2% | — |
现金转化率ALGNDOC
| Q1 26 | 1.34× | — | ||
| Q4 25 | 1.64× | 10.99× | ||
| Q3 25 | 3.33× | — | ||
| Q2 25 | 1.03× | 11.48× | ||
| Q1 25 | 0.57× | 6.52× | ||
| Q4 24 | 2.76× | 235.43× | ||
| Q3 24 | 2.27× | 3.71× | ||
| Q2 24 | 1.66× | 2.17× |
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
ALGN
| Clear Aligner | $856.0M | 82% |
| CAM Services | $184.1M | 18% |
DOC
| Outpatient Medical | $320.5M | 46% |
| Lab | $217.6M | 31% |
| Senior Housing | $148.9M | 21% |
| Other | $14.3M | 2% |
| Corporate Non-segment | $1.5M | 0% |
