vs
Alexandria Real Estate Equities（ARE）与ASSOCIATED BANC-CORP（ASB）财务数据对比。点击上方公司名可切换其他公司
Alexandria Real Estate Equities的季度营收约是ASSOCIATED BANC-CORP的1.8倍（$671.0M vs $383.0M），Alexandria Real Estate Equities净利率更高（59.4% vs 31.2%，领先28.1%），过去两年ASSOCIATED BANC-CORP的营收复合增速更高（9.1% vs -6.4%）
Alexandria Real Estate Equities（NYSE:ARE）是标普500成分股中的城市办公类房地产投资信托，作为业内首创、运营经验最丰富的先行企业，专注于在顶级创新集群区域开发、运营生命科学、科技及农业科技协作型产业园区。截至2020年12月末，公司总市值达319亿美元，北美地区资产总面积达4970万平方英尺。
联合银行集团（Associated Banc-Corp）是美国区域性银行控股公司，总部位于威斯康星州格林贝，深耕美国中西部地区，主营零售银行、商业银行、商业地产贷款、私人银行及特色金融服务，在威斯康星州、伊利诺伊州、明尼苏达州设有220多个营业网点，覆盖100多个社区，还在印第安纳、密歇根等多州设有贷款办事处。
ARE vs ASB — 直观对比
营收规模更大
ARE
是对方的1.8倍
$383.0M
净利率更高
ARE
高出28.1%
31.2%
两年增速更快
ASB
近两年复合增速
-6.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $671.0M | $383.0M |
| 净利润 | $398.4M | $119.6M |
| 毛利率 | — | — |
| 营业利润率 | — | — |
| 净利率 | 59.4% | 31.2% |
| 营收同比 | -11.5% | — |
| 净利润同比 | 740.6% | 566.6% |
| 每股收益（稀释后） | $2.10 | $0.70 |
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AREASB
| Q1 26 | $671.0M | $383.0M | ||
| Q4 25 | $754.4M | $310.0M | ||
| Q3 25 | $751.9M | $305.2M | ||
| Q2 25 | $762.0M | $300.0M | ||
| Q1 25 | $758.2M | $285.9M | ||
| Q4 24 | $788.9M | $270.3M | ||
| Q3 24 | $791.6M | $329.7M | ||
| Q2 24 | $766.7M | $321.8M |
净利润AREASB
| Q1 26 | $398.4M | $119.6M | ||
| Q4 25 | $-1.1B | $137.1M | ||
| Q3 25 | $-232.8M | $124.7M | ||
| Q2 25 | $-107.0M | $111.2M | ||
| Q1 25 | $-8.9M | $101.7M | ||
| Q4 24 | $-62.2M | $-161.6M | ||
| Q3 24 | $167.9M | $88.0M | ||
| Q2 24 | $46.7M | $115.6M |
营业利润率AREASB
| Q1 26 | — | — | ||
| Q4 25 | — | 52.6% | ||
| Q3 25 | — | 50.5% | ||
| Q2 25 | — | 46.5% | ||
| Q1 25 | — | 42.3% | ||
| Q4 24 | — | -65.8% | ||
| Q3 24 | — | 32.8% | ||
| Q2 24 | — | 32.0% |
净利率AREASB
| Q1 26 | 59.4% | 31.2% | ||
| Q4 25 | -143.3% | 44.2% | ||
| Q3 25 | -31.0% | 40.9% | ||
| Q2 25 | -14.0% | 37.1% | ||
| Q1 25 | -1.2% | 35.6% | ||
| Q4 24 | -7.9% | -59.8% | ||
| Q3 24 | 21.2% | 26.7% | ||
| Q2 24 | 6.1% | 35.9% |
每股收益（稀释后）AREASB
| Q1 26 | $2.10 | $0.70 | ||
| Q4 25 | $-6.35 | $0.80 | ||
| Q3 25 | $-1.38 | $0.73 | ||
| Q2 25 | $-0.64 | $0.65 | ||
| Q1 25 | $-0.07 | $0.59 | ||
| Q4 24 | $-0.38 | $-1.10 | ||
| Q3 24 | $0.96 | $0.56 | ||
| Q2 24 | $0.25 | $0.74 |
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 | $418.7M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $19.4B | $5.0B |
| 总资产 | $34.2B | $45.6B |
| 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AREASB
| Q1 26 | $418.7M | — | ||
| Q4 25 | $549.1M | — | ||
| Q3 25 | $579.5M | — | ||
| Q2 25 | $520.5M | — | ||
| Q1 25 | $476.4M | — | ||
| Q4 24 | $552.1M | — | ||
| Q3 24 | $562.6M | — | ||
| Q2 24 | $561.0M | — |
总债务AREASB
| Q1 26 | — | — | ||
| Q4 25 | $12.4B | $1.0B | ||
| Q3 25 | $13.6B | $594.1M | ||
| Q2 25 | $13.3B | $593.5M | ||
| Q1 25 | $13.1B | $591.4M | ||
| Q4 24 | $12.2B | $1.4B | ||
| Q3 24 | $12.7B | $844.3M | ||
| Q2 24 | $12.4B | $536.1M |
股东权益AREASB
| Q1 26 | $19.4B | $5.0B | ||
| Q4 25 | $15.5B | $5.0B | ||
| Q3 25 | $16.6B | $4.9B | ||
| Q2 25 | $17.2B | $4.8B | ||
| Q1 25 | $17.5B | $4.7B | ||
| Q4 24 | $17.9B | $4.6B | ||
| Q3 24 | $18.2B | $4.4B | ||
| Q2 24 | $18.3B | $4.2B |
总资产AREASB
| Q1 26 | $34.2B | $45.6B | ||
| Q4 25 | $34.1B | $45.2B | ||
| Q3 25 | $37.4B | $44.5B | ||
| Q2 25 | $37.6B | $44.0B | ||
| Q1 25 | $37.6B | $43.3B | ||
| Q4 24 | $37.5B | $43.0B | ||
| Q3 24 | $38.5B | $42.2B | ||
| Q2 24 | $37.8B | $41.6B |
负债/权益比AREASB
| Q1 26 | — | — | ||
| Q4 25 | 0.80× | 0.20× | ||
| Q3 25 | 0.82× | 0.12× | ||
| Q2 25 | 0.77× | 0.12× | ||
| Q1 25 | 0.75× | 0.13× | ||
| Q4 24 | 0.68× | 0.31× | ||
| Q3 24 | 0.70× | 0.19× | ||
| Q2 24 | 0.68× | 0.13× |
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 | $196.6M | — |
| 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 | 76.0% | — |
| 现金转化率经营现金流/净利润 | 0.49× | — |
| 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AREASB
| Q1 26 | $196.6M | — | ||
| Q4 25 | $312.4M | $218.1M | ||
| Q3 25 | $433.5M | $158.0M | ||
| Q2 25 | $460.2M | $141.5M | ||
| Q1 25 | $207.9M | $98.2M | ||
| Q4 24 | $274.2M | $207.1M | ||
| Q3 24 | $477.4M | $105.1M | ||
| Q2 24 | $411.8M | $113.5M |
资本支出强度AREASB
| Q1 26 | 76.0% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率AREASB
| Q1 26 | 0.49× | — | ||
| Q4 25 | — | 1.59× | ||
| Q3 25 | — | 1.27× | ||
| Q2 25 | — | 1.27× | ||
| Q1 25 | — | 0.97× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.84× | 1.19× | ||
| Q2 24 | 8.82× | 0.98× |
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
ARE
| Same properties | $431.4M | 64% |
| Tenant recoveries | $178.2M | 27% |
| Non-same properties | $43.3M | 6% |
| Other | $18.0M | 3% |
ASB
| Net Interest Income | $307.2M | 80% |
| Noninterest Income | $75.9M | 20% |
