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Alexandria Real Estate Equities（ARE）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是Alexandria Real Estate Equities的1.8倍（$1.2B vs $671.0M），Alexandria Real Estate Equities净利率更高（59.4% vs 9.1%，领先50.3%），利氏兄弟拍卖行同比增速更快（5.4% vs -11.5%），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% 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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
ARE vs RBA — 直观对比
营收规模更大
RBA
是对方的1.8倍
$671.0M
营收增速更快
RBA
高出16.9%
-11.5%
净利率更高
ARE
高出50.3%
9.1%
两年增速更快
RBA
近两年复合增速
-6.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $671.0M | $1.2B |
| 净利润 | $398.4M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | — | 14.7% |
| 净利率 | 59.4% | 9.1% |
| 营收同比 | -11.5% | 5.4% |
| 净利润同比 | 740.6% | -7.4% |
| 每股收益（稀释后） | $2.10 | $0.53 |
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ARERBA
| Q1 26 | $671.0M | — | ||
| Q4 25 | $754.4M | $1.2B | ||
| Q3 25 | $751.9M | $1.1B | ||
| Q2 25 | $762.0M | $1.2B | ||
| Q1 25 | $758.2M | $1.1B | ||
| Q4 24 | $788.9M | $1.1B | ||
| Q3 24 | $791.6M | $981.8M | ||
| Q2 24 | $766.7M | $1.1B |
净利润ARERBA
| Q1 26 | $398.4M | — | ||
| Q4 25 | $-1.1B | $109.7M | ||
| Q3 25 | $-232.8M | $95.5M | ||
| Q2 25 | $-107.0M | $109.8M | ||
| Q1 25 | $-8.9M | $113.4M | ||
| Q4 24 | $-62.2M | $118.5M | ||
| Q3 24 | $167.9M | $76.1M | ||
| Q2 24 | $46.7M | $111.1M |
营业利润率ARERBA
| Q1 26 | — | — | ||
| Q4 25 | — | 14.7% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | 17.1% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 18.4% |
净利率ARERBA
| Q1 26 | 59.4% | — | ||
| Q4 25 | -143.3% | 9.1% | ||
| Q3 25 | -31.0% | 8.7% | ||
| Q2 25 | -14.0% | 9.3% | ||
| Q1 25 | -1.2% | 10.2% | ||
| Q4 24 | -7.9% | 10.4% | ||
| Q3 24 | 21.2% | 7.8% | ||
| Q2 24 | 6.1% | 10.1% |
每股收益（稀释后）ARERBA
| Q1 26 | $2.10 | — | ||
| Q4 25 | $-6.35 | $0.53 | ||
| Q3 25 | $-1.38 | $0.43 | ||
| Q2 25 | $-0.64 | $0.53 | ||
| Q1 25 | $-0.07 | $0.55 | ||
| Q4 24 | $-0.38 | $0.58 | ||
| Q3 24 | $0.96 | $0.36 | ||
| Q2 24 | $0.25 | $0.54 |
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 | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $19.4B | $5.6B |
| 总资产 | $34.2B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资ARERBA
| Q1 26 | $418.7M | — | ||
| Q4 25 | $549.1M | $531.5M | ||
| Q3 25 | $579.5M | $674.7M | ||
| Q2 25 | $520.5M | $710.2M | ||
| Q1 25 | $476.4M | $578.1M | ||
| Q4 24 | $552.1M | $533.9M | ||
| Q3 24 | $562.6M | $650.7M | ||
| Q2 24 | $561.0M | $599.5M |
总债务ARERBA
| Q1 26 | — | — | ||
| Q4 25 | $12.4B | $2.3B | ||
| Q3 25 | $13.6B | $2.6B | ||
| Q2 25 | $13.3B | $2.6B | ||
| Q1 25 | $13.1B | $2.6B | ||
| Q4 24 | $12.2B | $2.6B | ||
| Q3 24 | $12.7B | $2.7B | ||
| Q2 24 | $12.4B | $2.8B |
股东权益ARERBA
| Q1 26 | $19.4B | — | ||
| Q4 25 | $15.5B | $5.6B | ||
| Q3 25 | $16.6B | $5.5B | ||
| Q2 25 | $17.2B | $5.5B | ||
| Q1 25 | $17.5B | $5.3B | ||
| Q4 24 | $17.9B | $5.2B | ||
| Q3 24 | $18.2B | $5.2B | ||
| Q2 24 | $18.3B | $5.2B |
总资产ARERBA
| Q1 26 | $34.2B | — | ||
| Q4 25 | $34.1B | $12.1B | ||
| Q3 25 | $37.4B | $12.2B | ||
| Q2 25 | $37.6B | $12.2B | ||
| Q1 25 | $37.6B | $11.9B | ||
| Q4 24 | $37.5B | $11.8B | ||
| Q3 24 | $38.5B | $11.9B | ||
| Q2 24 | $37.8B | $12.1B |
负债/权益比ARERBA
| Q1 26 | — | — | ||
| Q4 25 | 0.80× | 0.42× | ||
| Q3 25 | 0.82× | 0.47× | ||
| Q2 25 | 0.77× | 0.47× | ||
| Q1 25 | 0.75× | 0.50× | ||
| Q4 24 | 0.68× | 0.50× | ||
| Q3 24 | 0.70× | 0.52× | ||
| Q2 24 | 0.68× | 0.55× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | — | $186.5M |
| 自由现金流率自由现金流/营收 | — | 15.5% |
| 资本支出强度资本支出/营收 | 76.0% | 5.7% |
| 现金转化率经营现金流/净利润 | 1.19× | 2.33× |
| 过去12个月自由现金流最近4个季度 | — | $719.2M |
8季度趋势，按日历期对齐
经营现金流ARERBA
| Q1 26 | $475.0M | — | ||
| Q4 25 | $312.4M | $255.2M | ||
| Q3 25 | $433.5M | $239.7M | ||
| Q2 25 | $460.2M | $326.5M | ||
| Q1 25 | $207.9M | $156.8M | ||
| Q4 24 | $274.2M | $184.5M | ||
| Q3 24 | $477.4M | $285.4M | ||
| Q2 24 | $411.8M | $337.3M |
自由现金流ARERBA
| Q1 26 | — | — | ||
| Q4 25 | — | $186.5M | ||
| Q3 25 | — | $188.5M | ||
| Q2 25 | — | $241.7M | ||
| Q1 25 | — | $102.5M | ||
| Q4 24 | — | $127.9M | ||
| Q3 24 | — | $248.5M | ||
| Q2 24 | — | $308.6M |
自由现金流率ARERBA
| Q1 26 | — | — | ||
| Q4 25 | — | 15.5% | ||
| Q3 25 | — | 17.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | 25.3% | ||
| Q2 24 | — | 28.2% |
资本支出强度ARERBA
| Q1 26 | 76.0% | — | ||
| Q4 25 | — | 5.7% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 2.6% |
现金转化率ARERBA
| Q1 26 | 1.19× | — | ||
| Q4 25 | — | 2.33× | ||
| Q3 25 | — | 2.51× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | 2.84× | 3.75× | ||
| Q2 24 | 8.82× | 3.04× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
