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美国铁塔（AMT）与GLADSTONE COMMERCIAL CORP（GOOD）财务数据对比。点击上方公司名可切换其他公司
美国铁塔的季度营收约是GLADSTONE COMMERCIAL CORP的5.1倍（$219.8M vs $43.5M）。美国铁塔净利率更高（380.7% vs 12.4%，领先368.3%）。GLADSTONE COMMERCIAL CORP同比增速更快（16.3% vs 4.5%）。过去两年美国铁塔的营收复合增速更高（12.0% vs 10.3%）
美国铁塔是全球规模最大的房地产投资信托基金（REIT）之一，作为领先的独立多租户通信地产持有、运营及开发商，目前在全球范围内拥有约21.9万个通信站点，为全球通信产业提供可靠的基础设施支持。
格拉德斯通商业公司是一家上市房地产投资信托，主要在美国境内收购、持有及运营多元化的工业与商业地产组合，面向制造、物流、医疗、专业服务等领域的租户提供长期净租赁服务，核心客群为中小规模企业。
AMT vs GOOD — 直观对比
营收规模更大
AMT
是对方的5.1倍
$43.5M
营收增速更快
GOOD
高出11.8%
4.5%
净利率更高
AMT
高出368.3%
12.4%
两年增速更快
AMT
近两年复合增速
10.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $219.8M | $43.5M |
| 净利润 | $836.8M | $5.4M |
| 毛利率 | — | — |
| 营业利润率 | — | — |
| 净利率 | 380.7% | 12.4% |
| 营收同比 | 4.5% | 16.3% |
| 净利润同比 | -32.0% | -25.1% |
| 每股收益（稀释后） | $1.76 | $0.05 |
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AMTGOOD
| Q4 25 | $219.8M | $43.5M | ||
| Q3 25 | $246.4M | $40.8M | ||
| Q2 25 | $243.7M | $39.5M | ||
| Q1 25 | $226.0M | $37.5M | ||
| Q4 24 | $210.4M | $37.4M | ||
| Q3 24 | $190.4M | $39.2M | ||
| Q2 24 | $198.6M | $37.1M | ||
| Q1 24 | $175.2M | $35.7M |
净利润AMTGOOD
| Q4 25 | $836.8M | $5.4M | ||
| Q3 25 | $912.6M | $4.1M | ||
| Q2 25 | $380.5M | $4.6M | ||
| Q1 25 | $498.6M | $5.1M | ||
| Q4 24 | $1.2B | $7.2M | ||
| Q3 24 | $-780.4M | $11.7M | ||
| Q2 24 | $908.4M | $1.6M | ||
| Q1 24 | $921.7M | $3.5M |
净利率AMTGOOD
| Q4 25 | 380.7% | 12.4% | ||
| Q3 25 | 370.4% | 10.1% | ||
| Q2 25 | 156.1% | 11.7% | ||
| Q1 25 | 220.6% | 13.7% | ||
| Q4 24 | 584.8% | 19.2% | ||
| Q3 24 | -409.9% | 29.8% | ||
| Q2 24 | 457.4% | 4.3% | ||
| Q1 24 | 526.1% | 9.9% |
每股收益（稀释后）AMTGOOD
| Q4 25 | $1.76 | $0.05 | ||
| Q3 25 | $1.82 | $0.02 | ||
| Q2 25 | $0.78 | $0.03 | ||
| Q1 25 | $1.04 | $0.04 | ||
| Q4 24 | $2.63 | $0.10 | ||
| Q3 24 | $-1.69 | $0.20 | ||
| Q2 24 | $1.92 | $-0.04 | ||
| Q1 24 | $1.96 | $0.01 |
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 | $1.5B | $10.8M |
| 总债务越低越好 | $33.8B | $843.5M |
| 股东权益账面价值 | $3.7B | $171.8M |
| 总资产 | $63.2B | $1.2B |
| 负债/权益比越低杠杆越低 | 9.26× | 4.91× |
8季度趋势，按日历期对齐
现金及短期投资AMTGOOD
| Q4 25 | $1.5B | $10.8M | ||
| Q3 25 | $2.0B | $18.4M | ||
| Q2 25 | $2.1B | $11.7M | ||
| Q1 25 | $2.1B | $10.4M | ||
| Q4 24 | $2.0B | $11.0M | ||
| Q3 24 | $2.2B | $10.5M | ||
| Q2 24 | $2.5B | $10.4M | ||
| Q1 24 | $2.4B | $10.5M |
总债务AMTGOOD
| Q4 25 | $33.8B | $843.5M | ||
| Q3 25 | $34.9B | $843.3M | ||
| Q2 25 | $35.2B | $794.4M | ||
| Q1 25 | $34.0B | $740.7M | ||
| Q4 24 | $32.8B | $693.4M | ||
| Q3 24 | $33.4B | $692.6M | ||
| Q2 24 | $35.6B | $722.5M | ||
| Q1 24 | $36.2B | $719.4M |
股东权益AMTGOOD
| Q4 25 | $3.7B | $171.8M | ||
| Q3 25 | $4.0B | $184.8M | ||
| Q2 25 | $3.7B | $177.2M | ||
| Q1 25 | $3.5B | $183.2M | ||
| Q4 24 | $3.4B | $171.2M | ||
| Q3 24 | $3.6B | $168.9M | ||
| Q2 24 | $3.9B | $145.7M | ||
| Q1 24 | $4.0B | $147.3M |
总资产AMTGOOD
| Q4 25 | $63.2B | $1.2B | ||
| Q3 25 | $63.9B | $1.3B | ||
| Q2 25 | $63.8B | $1.2B | ||
| Q1 25 | $62.1B | $1.2B | ||
| Q4 24 | $61.1B | $1.1B | ||
| Q3 24 | $62.8B | $1.1B | ||
| Q2 24 | $65.8B | $1.1B | ||
| Q1 24 | $66.7B | $1.1B |
负债/权益比AMTGOOD
| Q4 25 | 9.26× | 4.91× | ||
| Q3 25 | 8.82× | 4.56× | ||
| Q2 25 | 9.48× | 4.48× | ||
| Q1 25 | 9.63× | 4.04× | ||
| Q4 24 | 9.70× | 4.05× | ||
| Q3 24 | 9.16× | 4.10× | ||
| Q2 24 | 9.24× | 4.96× | ||
| Q1 24 | 8.94× | 4.88× |
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 | $1.4B | $15.7M |
| 自由现金流经营现金流 - 资本支出 | $848.3M | — |
| 自由现金流率自由现金流/营收 | 385.9% | — |
| 资本支出强度资本支出/营收 | 263.5% | — |
| 现金转化率经营现金流/净利润 | 1.71× | 2.92× |
| 过去12个月自由现金流最近4个季度 | $3.8B | — |
8季度趋势，按日历期对齐
经营现金流AMTGOOD
| Q4 25 | $1.4B | $15.7M | ||
| Q3 25 | $1.5B | $18.9M | ||
| Q2 25 | $1.3B | $35.8M | ||
| Q1 25 | $1.3B | $17.7M | ||
| Q4 24 | $1.2B | $22.8M | ||
| Q3 24 | $1.5B | $5.5M | ||
| Q2 24 | $1.3B | $13.6M | ||
| Q1 24 | $1.3B | $15.0M |
自由现金流AMTGOOD
| Q4 25 | $848.3M | — | ||
| Q3 25 | $994.5M | — | ||
| Q2 25 | $976.9M | — | ||
| Q1 25 | $963.9M | — | ||
| Q4 24 | $755.6M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $886.9M | — |
自由现金流率AMTGOOD
| Q4 25 | 385.9% | — | ||
| Q3 25 | 403.6% | — | ||
| Q2 25 | 400.9% | — | ||
| Q1 25 | 426.5% | — | ||
| Q4 24 | 359.1% | — | ||
| Q3 24 | 548.7% | — | ||
| Q2 24 | 510.2% | — | ||
| Q1 24 | 506.2% | — |
资本支出强度AMTGOOD
| Q4 25 | 263.5% | — | ||
| Q3 25 | 188.9% | — | ||
| Q2 25 | 125.0% | — | ||
| Q1 25 | 146.5% | — | ||
| Q4 24 | 210.7% | — | ||
| Q3 24 | 223.1% | — | ||
| Q2 24 | 163.7% | — | ||
| Q1 24 | 226.4% | — |
现金转化率AMTGOOD
| Q4 25 | 1.71× | 2.92× | ||
| Q3 25 | 1.60× | 4.57× | ||
| Q2 25 | 3.37× | 7.74× | ||
| Q1 25 | 2.60× | 3.44× | ||
| Q4 24 | 0.97× | 3.17× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | 1.47× | 8.44× | ||
| Q1 24 | 1.39× | 4.26× |
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
AMT
| Other | $82.9M | 38% |
| Non Lease Property Revenue | $72.5M | 33% |
| Services Revenue | $64.4M | 29% |
GOOD
暂无分部数据
