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美国铁塔（AMT）与PulteGroup（PHM）财务数据对比。点击上方公司名可切换其他公司
PulteGroup的季度营收约是美国铁塔的1.2倍（$3.4B vs $2.7B），美国铁塔净利率更高（110.1% vs 10.2%，领先99.9%），美国铁塔同比增速更快（6.8% vs -12.4%），过去两年美国铁塔的营收复合增速更高（3.7% vs -13.9%）
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。
PulteGroup Inc.是总部位于美国佐治亚州亚特兰大的住宅建造企业，2023年按房屋交付量统计为美国第三大住宅建造商，自成立以来累计已建成超过77.5万套住宅，是美国住宅开发领域的领先企业之一。
AMT vs PHM — 直观对比
营收规模更大
PHM
是对方的1.2倍
$2.7B
营收增速更快
AMT
高出19.3%
-12.4%
净利率更高
AMT
高出99.9%
10.2%
两年增速更快
AMT
近两年复合增速
-13.9%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $3.4B |
| 净利润 | $3.0B | $347.0M |
| 毛利率 | — | — |
| 营业利润率 | 0.0% | — |
| 净利率 | 110.1% | 10.2% |
| 营收同比 | 6.8% | -12.4% |
| 净利润同比 | -2.6% | -33.6% |
| 每股收益（稀释后） | — | — |
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AMTPHM
| Q1 26 | $2.7B | $3.4B | ||
| Q4 25 | $2.7B | $4.6B | ||
| Q3 25 | $2.7B | $4.4B | ||
| Q2 25 | $2.6B | $4.4B | ||
| Q1 25 | $2.6B | $3.9B | ||
| Q4 24 | $2.5B | $4.9B | ||
| Q3 24 | $2.5B | $4.5B | ||
| Q2 24 | $2.5B | $4.6B |
净利润AMTPHM
| Q1 26 | $3.0B | $347.0M | ||
| Q4 25 | $836.8M | $501.6M | ||
| Q3 25 | $912.6M | $585.8M | ||
| Q2 25 | $380.5M | $608.5M | ||
| Q1 25 | $498.6M | $522.8M | ||
| Q4 24 | $1.2B | $913.2M | ||
| Q3 24 | $-780.4M | $697.9M | ||
| Q2 24 | $908.4M | $809.1M |
毛利率AMTPHM
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 27.8% | ||
| Q2 25 | — | 28.6% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 30.4% | ||
| Q2 24 | — | 31.4% |
营业利润率AMTPHM
| Q1 26 | 0.0% | — | ||
| Q4 25 | 42.4% | — | ||
| Q3 25 | 45.4% | — | ||
| Q2 25 | 45.6% | — | ||
| Q1 25 | 48.9% | — | ||
| Q4 24 | 42.4% | — | ||
| Q3 24 | 45.2% | — | ||
| Q2 24 | 45.4% | — |
净利率AMTPHM
| Q1 26 | 110.1% | 10.2% | ||
| Q4 25 | 30.6% | 10.9% | ||
| Q3 25 | 33.6% | 13.3% | ||
| Q2 25 | 14.5% | 13.8% | ||
| Q1 25 | 19.5% | 13.4% | ||
| Q4 24 | 48.3% | 18.6% | ||
| Q3 24 | -30.9% | 15.6% | ||
| Q2 24 | 35.7% | 17.6% |
每股收益（稀释后）AMTPHM
| Q1 26 | — | — | ||
| Q4 25 | $1.76 | $2.56 | ||
| Q3 25 | $1.82 | $2.96 | ||
| Q2 25 | $0.78 | $3.03 | ||
| Q1 25 | $1.04 | $2.57 | ||
| Q4 24 | $2.63 | $4.41 | ||
| Q3 24 | $-1.69 | $3.35 | ||
| Q2 24 | $1.92 | $3.83 |
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 | $1.6B | $1.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $10.2B | $13.0B |
| 总资产 | — | $5.2B |
| 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AMTPHM
| Q1 26 | $1.6B | $1.8B | ||
| Q4 25 | $1.5B | $2.0B | ||
| Q3 25 | $2.0B | $1.5B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.1B | $1.2B | ||
| Q4 24 | $2.0B | $1.6B | ||
| Q3 24 | $2.2B | $1.4B | ||
| Q2 24 | $2.2B | $1.4B |
总债务AMTPHM
| Q1 26 | — | — | ||
| Q4 25 | $33.8B | $43.9M | ||
| Q3 25 | $34.9B | — | ||
| Q2 25 | $35.2B | — | ||
| Q1 25 | $34.0B | — | ||
| Q4 24 | $32.8B | $31.1M | ||
| Q3 24 | $33.4B | — | ||
| Q2 24 | $35.6B | — |
股东权益AMTPHM
| Q1 26 | $10.2B | $13.0B | ||
| Q4 25 | $3.7B | $13.0B | ||
| Q3 25 | $4.0B | $12.8B | ||
| Q2 25 | $3.7B | $12.6B | ||
| Q1 25 | $3.5B | $12.3B | ||
| Q4 24 | $3.4B | $12.1B | ||
| Q3 24 | $3.6B | $11.6B | ||
| Q2 24 | $3.9B | $11.2B |
总资产AMTPHM
| Q1 26 | — | $5.2B | ||
| Q4 25 | $63.2B | $18.0B | ||
| Q3 25 | $63.9B | $17.9B | ||
| Q2 25 | $63.8B | $17.6B | ||
| Q1 25 | $62.1B | $17.3B | ||
| Q4 24 | $61.1B | $17.4B | ||
| Q3 24 | $62.8B | $17.0B | ||
| Q2 24 | $65.8B | $16.5B |
负债/权益比AMTPHM
| Q1 26 | — | — | ||
| Q4 25 | 9.26× | 0.00× | ||
| Q3 25 | 8.82× | — | ||
| Q2 25 | 9.48× | — | ||
| Q1 25 | 9.63× | — | ||
| Q4 24 | 9.70× | 0.00× | ||
| Q3 24 | 9.16× | — | ||
| Q2 24 | 9.24× | — |
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 | — | $159.8M |
| 自由现金流经营现金流 - 资本支出 | $941.0M | — |
| 自由现金流率自由现金流/营收 | 34.4% | — |
| 资本支出强度资本支出/营收 | 16.8% | 0.7% |
| 现金转化率经营现金流/净利润 | — | 0.46× |
| 过去12个月自由现金流最近4个季度 | $6.7B | — |
8季度趋势，按日历期对齐
经营现金流AMTPHM
| Q1 26 | — | $159.8M | ||
| Q4 25 | $5.5B | $771.1M | ||
| Q3 25 | $1.5B | $678.4M | ||
| Q2 25 | $1.3B | $287.5M | ||
| Q1 25 | $1.3B | $134.2M | ||
| Q4 24 | $5.3B | $567.6M | ||
| Q3 24 | $1.5B | $455.9M | ||
| Q2 24 | $1.3B | $417.5M |
自由现金流AMTPHM
| Q1 26 | $941.0M | — | ||
| Q4 25 | $3.8B | $739.8M | ||
| Q3 25 | $994.5M | $651.1M | ||
| Q2 25 | $976.9M | $253.0M | ||
| Q1 25 | $963.9M | $104.6M | ||
| Q4 24 | $3.7B | $543.1M | ||
| Q3 24 | $1.0B | $417.2M | ||
| Q2 24 | $1.0B | $386.2M |
自由现金流率AMTPHM
| Q1 26 | 34.4% | — | ||
| Q4 25 | 138.2% | 16.0% | ||
| Q3 25 | 36.6% | 14.8% | ||
| Q2 25 | 37.2% | 5.7% | ||
| Q1 25 | 37.6% | 2.7% | ||
| Q4 24 | 145.3% | 11.0% | ||
| Q3 24 | 41.4% | 9.3% | ||
| Q2 24 | 39.8% | 8.4% |
资本支出强度AMTPHM
| Q1 26 | 16.8% | 0.7% | ||
| Q4 25 | 61.4% | 0.7% | ||
| Q3 25 | 17.1% | 0.6% | ||
| Q2 25 | 11.6% | 0.8% | ||
| Q1 25 | 12.9% | 0.8% | ||
| Q4 24 | 62.4% | 0.5% | ||
| Q3 24 | 16.8% | 0.9% | ||
| Q2 24 | 12.8% | 0.7% |
现金转化率AMTPHM
| Q1 26 | — | 0.46× | ||
| Q4 25 | 6.53× | 1.54× | ||
| Q3 25 | 1.60× | 1.16× | ||
| Q2 25 | 3.37× | 0.47× | ||
| Q1 25 | 2.60× | 0.26× | ||
| Q4 24 | 4.30× | 0.62× | ||
| Q3 24 | — | 0.65× | ||
| Q2 24 | 1.47× | 0.52× |
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
暂无分部数据
PHM
| Home sale revenues | $3.3B | 97% |
| Financial Services | $71.7M | 2% |
| Land sale and other revenues | $29.3M | 1% |
