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Alexandria Real Estate Equities（ARE）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的1.1倍（$671.0M vs $622.0M），Alexandria Real Estate Equities净利率更高（59.4% vs 34.4%，领先24.9%），Royalty Pharma plc同比增速更快（4.8% vs -11.5%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% 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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
ARE vs RPRX — 直观对比
营收规模更大
ARE
是对方的1.1倍
$622.0M
营收增速更快
RPRX
高出16.3%
-11.5%
净利率更高
ARE
高出24.9%
34.4%
两年增速更快
RPRX
近两年复合增速
-6.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $671.0M | $622.0M |
| 净利润 | $398.4M | $214.2M |
| 毛利率 | — | — |
| 营业利润率 | — | 62.4% |
| 净利率 | 59.4% | 34.4% |
| 营收同比 | -11.5% | 4.8% |
| 净利润同比 | 740.6% | 2.9% |
| 每股收益（稀释后） | $2.10 | $0.49 |
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ARERPRX
| Q1 26 | $671.0M | — | ||
| Q4 25 | $754.4M | $622.0M | ||
| Q3 25 | $751.9M | $609.3M | ||
| Q2 25 | $762.0M | $578.7M | ||
| Q1 25 | $758.2M | $568.2M | ||
| Q4 24 | $788.9M | $593.6M | ||
| Q3 24 | $791.6M | $564.7M | ||
| Q2 24 | $766.7M | $537.3M |
净利润ARERPRX
| Q1 26 | $398.4M | — | ||
| Q4 25 | $-1.1B | $214.2M | ||
| Q3 25 | $-232.8M | $288.2M | ||
| Q2 25 | $-107.0M | $30.2M | ||
| Q1 25 | $-8.9M | $238.3M | ||
| Q4 24 | $-62.2M | $208.2M | ||
| Q3 24 | $167.9M | $544.0M | ||
| Q2 24 | $46.7M | $102.0M |
营业利润率ARERPRX
| Q1 26 | — | — | ||
| Q4 25 | — | 62.4% | ||
| Q3 25 | — | 70.1% | ||
| Q2 25 | — | 36.3% | ||
| Q1 25 | — | 94.0% | ||
| Q4 24 | — | 60.9% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 50.2% |
净利率ARERPRX
| Q1 26 | 59.4% | — | ||
| Q4 25 | -143.3% | 34.4% | ||
| Q3 25 | -31.0% | 47.3% | ||
| Q2 25 | -14.0% | 5.2% | ||
| Q1 25 | -1.2% | 41.9% | ||
| Q4 24 | -7.9% | 35.1% | ||
| Q3 24 | 21.2% | 96.3% | ||
| Q2 24 | 6.1% | 19.0% |
每股收益（稀释后）ARERPRX
| Q1 26 | $2.10 | — | ||
| Q4 25 | $-6.35 | $0.49 | ||
| Q3 25 | $-1.38 | $0.67 | ||
| Q2 25 | $-0.64 | $0.07 | ||
| Q1 25 | $-0.07 | $0.55 | ||
| Q4 24 | $-0.38 | $0.46 | ||
| Q3 24 | $0.96 | $1.21 | ||
| Q2 24 | $0.25 | $0.23 |
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 | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $19.4B | $9.7B |
| 总资产 | $34.2B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资ARERPRX
| Q1 26 | $418.7M | — | ||
| Q4 25 | $549.1M | $618.7M | ||
| Q3 25 | $579.5M | $938.9M | ||
| Q2 25 | $520.5M | $631.9M | ||
| Q1 25 | $476.4M | $1.1B | ||
| Q4 24 | $552.1M | $929.0M | ||
| Q3 24 | $562.6M | $950.1M | ||
| Q2 24 | $561.0M | $1.8B |
总债务ARERPRX
| Q1 26 | — | — | ||
| Q4 25 | $12.4B | $9.0B | ||
| Q3 25 | $13.6B | $8.9B | ||
| Q2 25 | $13.3B | $8.0B | ||
| Q1 25 | $13.1B | $7.6B | ||
| Q4 24 | $12.2B | $7.6B | ||
| Q3 24 | $12.7B | $7.6B | ||
| Q2 24 | $12.4B | $7.6B |
股东权益ARERPRX
| Q1 26 | $19.4B | — | ||
| Q4 25 | $15.5B | $9.7B | ||
| Q3 25 | $16.6B | $9.6B | ||
| Q2 25 | $17.2B | $9.5B | ||
| Q1 25 | $17.5B | $9.8B | ||
| Q4 24 | $17.9B | $10.3B | ||
| Q3 24 | $18.2B | $10.3B | ||
| Q2 24 | $18.3B | $9.8B |
总资产ARERPRX
| Q1 26 | $34.2B | — | ||
| Q4 25 | $34.1B | $19.6B | ||
| Q3 25 | $37.4B | $19.3B | ||
| Q2 25 | $37.6B | $18.3B | ||
| Q1 25 | $37.6B | $17.6B | ||
| Q4 24 | $37.5B | $18.2B | ||
| Q3 24 | $38.5B | $18.0B | ||
| Q2 24 | $37.8B | $17.7B |
负债/权益比ARERPRX
| Q1 26 | — | — | ||
| Q4 25 | 0.80× | 0.92× | ||
| Q3 25 | 0.82× | 0.93× | ||
| Q2 25 | 0.77× | 0.84× | ||
| Q1 25 | 0.75× | 0.78× | ||
| Q4 24 | 0.68× | 0.74× | ||
| Q3 24 | 0.70× | 0.74× | ||
| Q2 24 | 0.68× | 0.78× |
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 | $827.1M |
| 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 | 1.19× | 3.86× |
| 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ARERPRX
| Q1 26 | $475.0M | — | ||
| Q4 25 | $312.4M | $827.1M | ||
| Q3 25 | $433.5M | $702.6M | ||
| Q2 25 | $460.2M | $364.0M | ||
| Q1 25 | $207.9M | $596.1M | ||
| Q4 24 | $274.2M | $742.5M | ||
| Q3 24 | $477.4M | $703.6M | ||
| Q2 24 | $411.8M | $658.2M |
资本支出强度ARERPRX
| Q1 26 | 76.0% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率ARERPRX
| Q1 26 | 1.19× | — | ||
| Q4 25 | — | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | — | 12.06× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | 2.84× | 1.29× | ||
| Q2 24 | 8.82× | 6.45× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
