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Alexandria Real Estate Equities（ARE）与Park Hotels & Resorts Inc.（PK）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Park Hotels & Resorts Inc.的1.1倍（$671.0M vs $629.0M），Alexandria Real Estate Equities净利率更高（59.4% vs -32.6%，领先92.0%），Park Hotels & Resorts Inc.同比增速更快（0.6% vs -11.5%），过去两年Park Hotels & Resorts Inc.的营收复合增速更高（-0.8% 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。
Park Hotels & Resorts是一家总部位于美国弗吉尼亚州泰森斯的房地产投资信托（REIT），核心业务为酒店物业投资运营。该企业于2017年从希尔顿全球集团分拆成立，在酒店不动产领域拥有专业的投资与管理经验。
ARE vs PK — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $671.0M | $629.0M |
| 净利润 | $398.4M | $-205.0M |
| 毛利率 | — | — |
| 营业利润率 | — | -26.1% |
| 净利率 | 59.4% | -32.6% |
| 营收同比 | -11.5% | 0.6% |
| 净利润同比 | 740.6% | -410.6% |
| 每股收益（稀释后） | $2.10 | $-1.04 |
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
| Q1 26 | $671.0M | — | ||
| Q4 25 | $754.4M | $629.0M | ||
| Q3 25 | $751.9M | $610.0M | ||
| Q2 25 | $762.0M | $672.0M | ||
| Q1 25 | $758.2M | $630.0M | ||
| Q4 24 | $788.9M | $625.0M | ||
| Q3 24 | $791.6M | $649.0M | ||
| Q2 24 | $766.7M | $686.0M |
| Q1 26 | $398.4M | — | ||
| Q4 25 | $-1.1B | $-205.0M | ||
| Q3 25 | $-232.8M | $-16.0M | ||
| Q2 25 | $-107.0M | $-5.0M | ||
| Q1 25 | $-8.9M | $-57.0M | ||
| Q4 24 | $-62.2M | $66.0M | ||
| Q3 24 | $167.9M | $54.0M | ||
| Q2 24 | $46.7M | $64.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -26.1% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | 9.7% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 13.3% | ||
| Q3 24 | — | 14.6% | ||
| Q2 24 | — | 17.6% |
| Q1 26 | 59.4% | — | ||
| Q4 25 | -143.3% | -32.6% | ||
| Q3 25 | -31.0% | -2.6% | ||
| Q2 25 | -14.0% | -0.7% | ||
| Q1 25 | -1.2% | -9.0% | ||
| Q4 24 | -7.9% | 10.6% | ||
| Q3 24 | 21.2% | 8.3% | ||
| Q2 24 | 6.1% | 9.3% |
| Q1 26 | $2.10 | — | ||
| Q4 25 | $-6.35 | $-1.04 | ||
| Q3 25 | $-1.38 | $-0.08 | ||
| Q2 25 | $-0.64 | $-0.02 | ||
| Q1 25 | $-0.07 | $-0.29 | ||
| Q4 24 | $-0.38 | $0.32 | ||
| Q3 24 | $0.96 | $0.26 | ||
| Q2 24 | $0.25 | $0.30 |
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 | $232.0M |
| 总债务越低越好 | — | $3.9B |
| 股东权益账面价值 | $19.4B | $3.1B |
| 总资产 | $34.2B | $7.7B |
| 负债/权益比越低杠杆越低 | — | 1.23× |
8季度趋势，按日历期对齐
| Q1 26 | $418.7M | — | ||
| Q4 25 | $549.1M | $232.0M | ||
| Q3 25 | $579.5M | $278.0M | ||
| Q2 25 | $520.5M | $319.0M | ||
| Q1 25 | $476.4M | $233.0M | ||
| Q4 24 | $552.1M | $402.0M | ||
| Q3 24 | $562.6M | $480.0M | ||
| Q2 24 | $561.0M | $449.0M |
| Q1 26 | — | — | ||
| Q4 25 | $12.4B | $3.9B | ||
| Q3 25 | $13.6B | $3.9B | ||
| Q2 25 | $13.3B | $3.9B | ||
| Q1 25 | $13.1B | $3.9B | ||
| Q4 24 | $12.2B | $3.9B | ||
| Q3 24 | $12.7B | $3.9B | ||
| Q2 24 | $12.4B | $3.9B |
| Q1 26 | $19.4B | — | ||
| Q4 25 | $15.5B | $3.1B | ||
| Q3 25 | $16.6B | $3.4B | ||
| Q2 25 | $17.2B | $3.4B | ||
| Q1 25 | $17.5B | $3.5B | ||
| Q4 24 | $17.9B | $3.6B | ||
| Q3 24 | $18.2B | $3.8B | ||
| Q2 24 | $18.3B | $3.8B |
| Q1 26 | $34.2B | — | ||
| Q4 25 | $34.1B | $7.7B | ||
| Q3 25 | $37.4B | $8.8B | ||
| Q2 25 | $37.6B | $8.9B | ||
| Q1 25 | $37.6B | $8.9B | ||
| Q4 24 | $37.5B | $9.2B | ||
| Q3 24 | $38.5B | $9.2B | ||
| Q2 24 | $37.8B | $9.2B |
| Q1 26 | — | — | ||
| Q4 25 | 0.80× | 1.23× | ||
| Q3 25 | 0.82× | 1.14× | ||
| Q2 25 | 0.77× | 1.12× | ||
| Q1 25 | 0.75× | 1.11× | ||
| Q4 24 | 0.68× | 1.06× | ||
| Q3 24 | 0.70× | 1.03× | ||
| Q2 24 | 0.68× | 1.03× |
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 | $475.0M | $105.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-3.0M |
| 自由现金流率自由现金流/营收 | — | -0.5% |
| 资本支出强度资本支出/营收 | 76.0% | 17.2% |
| 现金转化率经营现金流/净利润 | 1.19× | — |
| 过去12个月自由现金流最近4个季度 | — | $102.0M |
8季度趋势，按日历期对齐
| Q1 26 | $475.0M | — | ||
| Q4 25 | $312.4M | $105.0M | ||
| Q3 25 | $433.5M | $99.0M | ||
| Q2 25 | $460.2M | $108.0M | ||
| Q1 25 | $207.9M | $86.0M | ||
| Q4 24 | $274.2M | $80.0M | ||
| Q3 24 | $477.4M | $140.0M | ||
| Q2 24 | $411.8M | $117.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-3.0M | ||
| Q3 25 | — | $31.0M | ||
| Q2 25 | — | $65.0M | ||
| Q1 25 | — | $9.0M | ||
| Q4 24 | — | $17.0M | ||
| Q3 24 | — | $97.0M | ||
| Q2 24 | — | $66.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.5% | ||
| Q3 25 | — | 5.1% | ||
| Q2 25 | — | 9.7% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 14.9% | ||
| Q2 24 | — | 9.6% |
| Q1 26 | 76.0% | — | ||
| Q4 25 | — | 17.2% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 6.4% | ||
| Q1 25 | — | 12.2% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | — | 6.6% | ||
| Q2 24 | — | 7.4% |
| Q1 26 | 1.19× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.21× | ||
| Q3 24 | 2.84× | 2.59× | ||
| Q2 24 | 8.82× | 1.83× |
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% |
PK
| Occupancy | $371.0M | 59% |
| Food And Beverage | $173.0M | 28% |
| Ancillary Hotel | $61.0M | 10% |
| Hotel Other | $24.0M | 4% |
