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美国铁塔（AMT）与Star Holdings（STHO）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Star Holdings的8.7倍（$219.8M vs $25.4M）。美国铁塔净利率更高（380.7% vs -75.5%，领先456.2%）。美国铁塔同比增速更快（4.5% vs -22.6%）。过去两年美国铁塔的营收复合增速更高（12.0% vs -0.2%）
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。
蓝星有限公司是一家印度跨国家电企业，总部位于孟买，主营空调、商用制冷以及机电工程业务，是印度本土市场规模第二大的空调领域本土企业。
AMT vs STHO — 直观对比
营收规模更大
AMT
是对方的8.7倍
$25.4M
营收增速更快
AMT
高出27.1%
-22.6%
净利率更高
AMT
高出456.2%
-75.5%
两年增速更快
AMT
近两年复合增速
-0.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $219.8M | $25.4M |
| 净利润 | $836.8M | $-19.1M |
| 毛利率 | — | — |
| 营业利润率 | — | -91.7% |
| 净利率 | 380.7% | -75.5% |
| 营收同比 | 4.5% | -22.6% |
| 净利润同比 | -32.0% | 81.3% |
| 每股收益（稀释后） | $1.76 | $-1.52 |
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AMTSTHO
| Q4 25 | $219.8M | $25.4M | ||
| Q3 25 | $246.4M | $28.1M | ||
| Q2 25 | $243.7M | $42.1M | ||
| Q1 25 | $226.0M | $14.6M | ||
| Q4 24 | $210.4M | $32.8M | ||
| Q3 24 | $190.4M | $24.6M | ||
| Q2 24 | $198.6M | $30.6M | ||
| Q1 24 | $175.2M | $25.4M |
净利润AMTSTHO
| Q4 25 | $836.8M | $-19.1M | ||
| Q3 25 | $912.6M | $1.8M | ||
| Q2 25 | $380.5M | $-39.3M | ||
| Q1 25 | $498.6M | $-7.6M | ||
| Q4 24 | $1.2B | $-102.6M | ||
| Q3 24 | $-780.4M | $91.9M | ||
| Q2 24 | $908.4M | $-27.1M | ||
| Q1 24 | $921.7M | $-49.0M |
营业利润率AMTSTHO
| Q4 25 | — | -91.7% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | -94.5% | ||
| Q1 25 | — | -55.0% | ||
| Q4 24 | — | -314.1% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -91.5% | ||
| Q1 24 | — | -192.6% |
净利率AMTSTHO
| Q4 25 | 380.7% | -75.5% | ||
| Q3 25 | 370.4% | 6.4% | ||
| Q2 25 | 156.1% | -93.5% | ||
| Q1 25 | 220.6% | -52.0% | ||
| Q4 24 | 584.8% | -313.1% | ||
| Q3 24 | -409.9% | 374.3% | ||
| Q2 24 | 457.4% | -88.8% | ||
| Q1 24 | 526.1% | -192.6% |
每股收益（稀释后）AMTSTHO
| Q4 25 | $1.76 | $-1.52 | ||
| Q3 25 | $1.82 | $0.14 | ||
| Q2 25 | $0.78 | $-2.95 | ||
| Q1 25 | $1.04 | $-0.57 | ||
| Q4 24 | $2.63 | $-7.69 | ||
| Q3 24 | $-1.69 | $6.90 | ||
| Q2 24 | $1.92 | $-2.04 | ||
| Q1 24 | $1.96 | $-3.68 |
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 | $50.1M |
| 总债务越低越好 | $33.8B | $268.7M |
| 股东权益账面价值 | $3.7B | $251.8M |
| 总资产 | $63.2B | $570.2M |
| 负债/权益比越低杠杆越低 | 9.26× | 1.07× |
8季度趋势，按日历期对齐
现金及短期投资AMTSTHO
| Q4 25 | $1.5B | $50.1M | ||
| Q3 25 | $2.0B | $40.6M | ||
| Q2 25 | $2.1B | $44.2M | ||
| Q1 25 | $2.1B | $30.3M | ||
| Q4 24 | $2.0B | $35.0M | ||
| Q3 24 | $2.2B | $45.0M | ||
| Q2 24 | $2.5B | $48.3M | ||
| Q1 24 | $2.4B | $45.7M |
总债务AMTSTHO
| Q4 25 | $33.8B | $268.7M | ||
| Q3 25 | $34.9B | $259.3M | ||
| Q2 25 | $35.2B | $245.4M | ||
| Q1 25 | $34.0B | $231.5M | ||
| Q4 24 | $32.8B | $217.3M | ||
| Q3 24 | $33.4B | $201.2M | ||
| Q2 24 | $35.6B | $197.2M | ||
| Q1 24 | $36.2B | $195.0M |
股东权益AMTSTHO
| Q4 25 | $3.7B | $251.8M | ||
| Q3 25 | $4.0B | $275.4M | ||
| Q2 25 | $3.7B | $276.1M | ||
| Q1 25 | $3.5B | $316.1M | ||
| Q4 24 | $3.4B | $324.3M | ||
| Q3 24 | $3.6B | $427.5M | ||
| Q2 24 | $3.9B | $335.3M | ||
| Q1 24 | $4.0B | $362.4M |
总资产AMTSTHO
| Q4 25 | $63.2B | $570.2M | ||
| Q3 25 | $63.9B | $595.9M | ||
| Q2 25 | $63.8B | $589.9M | ||
| Q1 25 | $62.1B | $618.2M | ||
| Q4 24 | $61.1B | $608.7M | ||
| Q3 24 | $62.8B | $696.5M | ||
| Q2 24 | $65.8B | $601.0M | ||
| Q1 24 | $66.7B | $622.9M |
负债/权益比AMTSTHO
| Q4 25 | 9.26× | 1.07× | ||
| Q3 25 | 8.82× | 0.94× | ||
| Q2 25 | 9.48× | 0.89× | ||
| Q1 25 | 9.63× | 0.73× | ||
| Q4 24 | 9.70× | 0.67× | ||
| Q3 24 | 9.16× | 0.47× | ||
| Q2 24 | 9.24× | 0.59× | ||
| Q1 24 | 8.94× | 0.54× |
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 | $-8.0M |
| 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× | — |
| 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AMTSTHO
| Q4 25 | $1.4B | $-8.0M | ||
| Q3 25 | $1.5B | $5.3M | ||
| Q2 25 | $1.3B | $-2.6M | ||
| Q1 25 | $1.3B | $-6.3M | ||
| Q4 24 | $1.2B | $-6.9M | ||
| Q3 24 | $1.5B | $-3.8M | ||
| Q2 24 | $1.3B | $-6.4M | ||
| Q1 24 | $1.3B | $-14.2M |
自由现金流AMTSTHO
| 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AMTSTHO
| 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AMTSTHO
| 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AMTSTHO
| Q4 25 | 1.71× | — | ||
| Q3 25 | 1.60× | 2.95× | ||
| Q2 25 | 3.37× | — | ||
| Q1 25 | 2.60× | — | ||
| Q4 24 | 0.97× | — | ||
| Q3 24 | — | -0.04× | ||
| Q2 24 | 1.47× | — | ||
| Q1 24 | 1.39× | — |
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% |
STHO
| Land Development | $13.0M | 51% |
| Other Income Revenue | $9.3M | 37% |
| Operating Lease Income | $2.0M | 8% |
| Interest Income Revenue | $1.2M | 5% |
