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Apple Hospitality REIT, Inc.（APLE）与Regency Centers（REG）财务数据对比。点击上方公司名可切换其他公司
Regency Centers的季度营收约是Apple Hospitality REIT, Inc.的1.2倍（$404.2M vs $326.4M），Regency Centers净利率更高（50.1% vs 9.1%，领先41.0%），Regency Centers同比增速更快（8.5% vs -2.0%），过去两年Regency Centers的营收复合增速更高（5.4% vs -0.5%）
莱曼 hospitality properties是一家深耕酒店、度假村、娱乐及媒体领域的企业，得名于旗下核心资产——位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾作为爱德华·盖洛德旗下俄克拉荷马出版公司子公司的时期，1983年收购WSM公司后，拿下大奥普里等知名IP，奠定了如今的业务发展基础。
Regency Centers是总部位于美国佛罗里达州杰克逊维尔的房地产投资信托基金，也是以超市为核心租户的大型购物中心运营商之一。截至2020年10月21日，公司共持有415处物业，总建筑面积达5600万平方英尺，知名资产包括Serramonte Center及Village District 30%的股权。
APLE vs REG — 直观对比
营收规模更大
REG
是对方的1.2倍
$326.4M
营收增速更快
REG
高出10.5%
-2.0%
净利率更高
REG
高出41.0%
9.1%
两年增速更快
REG
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $326.4M | $404.2M |
| 净利润 | $29.6M | $202.5M |
| 毛利率 | 37.2% | — |
| 营业利润率 | 15.2% | 71.0% |
| 净利率 | 9.1% | 50.1% |
| 营收同比 | -2.0% | 8.5% |
| 净利润同比 | -0.7% | 134.1% |
| 每股收益（稀释后） | $0.13 | — |
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APLEREG
| Q4 25 | $326.4M | $404.2M | ||
| Q3 25 | $373.9M | $387.6M | ||
| Q2 25 | $384.4M | $380.8M | ||
| Q1 25 | $327.7M | $380.9M | ||
| Q4 24 | $333.0M | $372.5M | ||
| Q3 24 | $378.8M | $360.3M | ||
| Q2 24 | $390.1M | $357.3M | ||
| Q1 24 | $329.5M | $363.9M |
净利润APLEREG
| Q4 25 | $29.6M | $202.5M | ||
| Q3 25 | $50.9M | $109.4M | ||
| Q2 25 | $63.6M | $106.0M | ||
| Q1 25 | $31.2M | $109.6M | ||
| Q4 24 | $29.8M | $86.5M | ||
| Q3 24 | $56.3M | $101.5M | ||
| Q2 24 | $73.9M | $102.7M | ||
| Q1 24 | $54.0M | $109.8M |
毛利率APLEREG
| Q4 25 | 37.2% | — | ||
| Q3 25 | 40.6% | — | ||
| Q2 25 | 42.6% | — | ||
| Q1 25 | 39.0% | — | ||
| Q4 24 | 38.6% | — | ||
| Q3 24 | 41.9% | — | ||
| Q2 24 | 44.6% | — | ||
| Q1 24 | 40.1% | — |
营业利润率APLEREG
| Q4 25 | 15.2% | 71.0% | ||
| Q3 25 | 19.4% | 72.7% | ||
| Q2 25 | 22.1% | 73.8% | ||
| Q1 25 | 15.5% | 71.8% | ||
| Q4 24 | 15.0% | 71.1% | ||
| Q3 24 | 20.5% | 72.5% | ||
| Q2 24 | 24.0% | 72.3% | ||
| Q1 24 | 21.7% | 72.3% |
净利率APLEREG
| Q4 25 | 9.1% | 50.1% | ||
| Q3 25 | 13.6% | 28.2% | ||
| Q2 25 | 16.6% | 27.8% | ||
| Q1 25 | 9.5% | 28.8% | ||
| Q4 24 | 9.0% | 23.2% | ||
| Q3 24 | 14.9% | 28.2% | ||
| Q2 24 | 19.0% | 28.7% | ||
| Q1 24 | 16.4% | 30.2% |
每股收益（稀释后）APLEREG
| Q4 25 | $0.13 | — | ||
| Q3 25 | $0.21 | — | ||
| Q2 25 | $0.27 | — | ||
| Q1 25 | $0.13 | — | ||
| Q4 24 | $0.13 | — | ||
| Q3 24 | $0.23 | — | ||
| Q2 24 | $0.31 | — | ||
| Q1 24 | $0.22 | — |
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 | $8.5M | — |
| 总债务越低越好 | $1.5B | $4.7B |
| 股东权益账面价值 | $3.1B | $6.9B |
| 总资产 | $4.9B | $13.0B |
| 负债/权益比越低杠杆越低 | 0.49× | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资APLEREG
| Q4 25 | $8.5M | — | ||
| Q3 25 | $50.3M | — | ||
| Q2 25 | $7.9M | — | ||
| Q1 25 | $14.9M | — | ||
| Q4 24 | $10.3M | — | ||
| Q3 24 | $6.1M | — | ||
| Q2 24 | $7.2M | — | ||
| Q1 24 | $4.9M | — |
总债务APLEREG
| Q4 25 | $1.5B | $4.7B | ||
| Q3 25 | $1.5B | $4.9B | ||
| Q2 25 | $1.5B | $4.8B | ||
| Q1 25 | $1.5B | $4.6B | ||
| Q4 24 | $1.5B | $4.4B | ||
| Q3 24 | $1.5B | $4.4B | ||
| Q2 24 | $1.5B | $4.4B | ||
| Q1 24 | $1.5B | $4.4B |
股东权益APLEREG
| Q4 25 | $3.1B | $6.9B | ||
| Q3 25 | $3.2B | $6.8B | ||
| Q2 25 | $3.2B | $6.7B | ||
| Q1 25 | $3.2B | $6.7B | ||
| Q4 24 | $3.3B | $6.7B | ||
| Q3 24 | $3.3B | $6.8B | ||
| Q2 24 | $3.3B | $6.8B | ||
| Q1 24 | $3.3B | $7.0B |
总资产APLEREG
| Q4 25 | $4.9B | $13.0B | ||
| Q3 25 | $4.9B | $13.1B | ||
| Q2 25 | $4.9B | $12.7B | ||
| Q1 25 | $4.9B | $12.6B | ||
| Q4 24 | $5.0B | $12.4B | ||
| Q3 24 | $5.0B | $12.4B | ||
| Q2 24 | $5.1B | $12.4B | ||
| Q1 24 | $5.0B | $12.7B |
负债/权益比APLEREG
| Q4 25 | 0.49× | 0.69× | ||
| Q3 25 | 0.47× | 0.72× | ||
| Q2 25 | 0.48× | 0.72× | ||
| Q1 25 | 0.48× | 0.69× | ||
| Q4 24 | 0.45× | 0.66× | ||
| Q3 24 | 0.46× | 0.65× | ||
| Q2 24 | 0.46× | 0.64× | ||
| Q1 24 | 0.45× | 0.63× |
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 | $370.2M | $203.9M |
| 自由现金流经营现金流 - 资本支出 | $282.0M | — |
| 自由现金流率自由现金流/营收 | 86.4% | — |
| 资本支出强度资本支出/营收 | 27.0% | — |
| 现金转化率经营现金流/净利润 | 12.50× | 1.01× |
| 过去12个月自由现金流最近4个季度 | $516.8M | — |
8季度趋势，按日历期对齐
经营现金流APLEREG
| Q4 25 | $370.2M | $203.9M | ||
| Q3 25 | $126.4M | $218.7M | ||
| Q2 25 | $108.8M | $244.0M | ||
| Q1 25 | $49.1M | $161.0M | ||
| Q4 24 | $405.4M | $191.4M | ||
| Q3 24 | $128.2M | $227.6M | ||
| Q2 24 | $127.3M | $203.5M | ||
| Q1 24 | $54.7M | $167.8M |
自由现金流APLEREG
| Q4 25 | $282.0M | — | ||
| Q3 25 | $109.0M | — | ||
| Q2 25 | $96.2M | — | ||
| Q1 25 | $29.5M | — | ||
| Q4 24 | $327.1M | — | ||
| Q3 24 | $113.1M | — | ||
| Q2 24 | $115.0M | — | ||
| Q1 24 | $34.4M | — |
自由现金流率APLEREG
| Q4 25 | 86.4% | — | ||
| Q3 25 | 29.2% | — | ||
| Q2 25 | 25.0% | — | ||
| Q1 25 | 9.0% | — | ||
| Q4 24 | 98.2% | — | ||
| Q3 24 | 29.9% | — | ||
| Q2 24 | 29.5% | — | ||
| Q1 24 | 10.4% | — |
资本支出强度APLEREG
| Q4 25 | 27.0% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 6.0% | — | ||
| Q4 24 | 23.5% | — | ||
| Q3 24 | 4.0% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 6.2% | — |
现金转化率APLEREG
| Q4 25 | 12.50× | 1.01× | ||
| Q3 25 | 2.49× | 2.00× | ||
| Q2 25 | 1.71× | 2.30× | ||
| Q1 25 | 1.57× | 1.47× | ||
| Q4 24 | 13.59× | 2.21× | ||
| Q3 24 | 2.28× | 2.24× | ||
| Q2 24 | 1.72× | 1.98× | ||
| Q1 24 | 1.01× | 1.53× |
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
APLE
| Occupancy | $293.0M | 90% |
| Hotel Other | $17.2M | 5% |
| Food And Beverage | $16.3M | 5% |
REG
| Shopping Centers | $418.0M | 103% |
| Propertymanagementservices | $4.1M | 1% |
| Assetmanagementservices | $1.7M | 0% |
