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百通（BDC）与STARWOOD PROPERTY TRUST, INC.（STWD）财务数据对比。点击上方公司名可切换其他公司
百通的季度营收约是STARWOOD PROPERTY TRUST, INC.的1.4倍（$696.4M vs $492.9M），STARWOOD PROPERTY TRUST, INC.净利率更高（19.7% vs 7.3%，领先12.3%），百通同比增速更快（11.4% vs 8.5%），过去两年百通的营收复合增速更高（7.3% vs -2.9%）
百通公司是美国上市跨国企业，专注于端到端网络、安全及连接产品的设计、生产与销售，业务覆盖工业自动化解决方案、智能建筑、宽带及5G三大核心领域，为各行业客户提供可靠的通信连接相关产品与服务。
喜达屋酒店及度假村国际集团是全球规模最大的酒店企业之一，业务涵盖酒店、度假村、水疗中心、住宅及度假产权物业的持有、运营、特许经营与管理。集团前身为1969年成立的房地产投资信托基金，1995年完成收购重组，旗下共11个品牌，管理及特许经营的物业共计1297处。
BDC vs STWD — 直观对比
营收规模更大
BDC
是对方的1.4倍
$492.9M
营收增速更快
BDC
高出3.0%
8.5%
净利率更高
STWD
高出12.3%
7.3%
两年增速更快
BDC
近两年复合增速
-2.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $696.4M | $492.9M |
| 净利润 | $51.0M | $96.9M |
| 毛利率 | 37.1% | — |
| 营业利润率 | 11.2% | 26.6% |
| 净利率 | 7.3% | 19.7% |
| 营收同比 | 11.4% | 8.5% |
| 净利润同比 | -1.8% | 87.7% |
| 每股收益（稀释后） | $1.30 | $0.25 |
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BDCSTWD
| Q1 26 | $696.4M | — | ||
| Q4 25 | $720.1M | $492.9M | ||
| Q3 25 | $698.2M | $488.9M | ||
| Q2 25 | $672.0M | $444.3M | ||
| Q1 25 | $624.9M | $418.2M | ||
| Q4 24 | $666.0M | $454.4M | ||
| Q3 24 | $654.9M | $479.5M | ||
| Q2 24 | $604.3M | $489.8M |
净利润BDCSTWD
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | $96.9M | ||
| Q3 25 | $56.7M | $72.6M | ||
| Q2 25 | $61.0M | $129.8M | ||
| Q1 25 | $51.9M | $112.3M | ||
| Q4 24 | $58.4M | $51.6M | ||
| Q3 24 | $53.7M | $76.1M | ||
| Q2 24 | $49.0M | $77.9M |
毛利率BDCSTWD
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 38.5% | — | ||
| Q1 25 | 39.3% | — | ||
| Q4 24 | 37.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 37.5% | — |
营业利润率BDCSTWD
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | 26.6% | ||
| Q3 25 | 10.9% | 19.1% | ||
| Q2 25 | 11.8% | 30.5% | ||
| Q1 25 | 11.6% | 28.7% | ||
| Q4 24 | 10.4% | 15.1% | ||
| Q3 24 | 11.5% | 17.2% | ||
| Q2 24 | 11.4% | 19.1% |
净利率BDCSTWD
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | 19.7% | ||
| Q3 25 | 8.1% | 14.8% | ||
| Q2 25 | 9.1% | 29.2% | ||
| Q1 25 | 8.3% | 26.8% | ||
| Q4 24 | 8.8% | 11.4% | ||
| Q3 24 | 8.2% | 15.9% | ||
| Q2 24 | 8.1% | 15.9% |
每股收益（稀释后）BDCSTWD
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | $0.25 | ||
| Q3 25 | $1.41 | $0.19 | ||
| Q2 25 | $1.53 | $0.38 | ||
| Q1 25 | $1.27 | $0.33 | ||
| Q4 24 | $1.41 | $0.15 | ||
| Q3 24 | $1.30 | $0.23 | ||
| Q2 24 | $1.19 | $0.24 |
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 | $272.2M | $499.5M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $1.3B | $6.8B |
| 总资产 | — | $63.2B |
| 负债/权益比越低杠杆越低 | 0.98× | — |
8季度趋势，按日历期对齐
现金及短期投资BDCSTWD
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | $499.5M | ||
| Q3 25 | $314.3M | $301.1M | ||
| Q2 25 | $301.5M | $259.9M | ||
| Q1 25 | $259.0M | $440.6M | ||
| Q4 24 | $370.3M | $377.8M | ||
| Q3 24 | $323.0M | $357.9M | ||
| Q2 24 | $564.8M | $259.3M |
总债务BDCSTWD
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益BDCSTWD
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $6.8B | ||
| Q3 25 | $1.2B | $6.9B | ||
| Q2 25 | $1.2B | $6.4B | ||
| Q1 25 | $1.2B | $6.4B | ||
| Q4 24 | $1.3B | $6.4B | ||
| Q3 24 | $1.2B | $6.5B | ||
| Q2 24 | $1.2B | $6.2B |
总资产BDCSTWD
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $63.2B | ||
| Q3 25 | $3.4B | $62.4B | ||
| Q2 25 | $3.4B | $62.4B | ||
| Q1 25 | $3.3B | $62.2B | ||
| Q4 24 | $3.3B | $62.6B | ||
| Q3 24 | $3.3B | $64.2B | ||
| Q2 24 | $3.5B | $64.1B |
负债/权益比BDCSTWD
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $488.8M |
| 自由现金流经营现金流 - 资本支出 | $-63.1M | — |
| 自由现金流率自由现金流/营收 | -9.1% | — |
| 资本支出强度资本支出/营收 | 6.4% | — |
| 现金转化率经营现金流/净利润 | — | 5.04× |
| 过去12个月自由现金流最近4个季度 | $180.4M | — |
8季度趋势，按日历期对齐
经营现金流BDCSTWD
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $488.8M | ||
| Q3 25 | $105.0M | $337.6M | ||
| Q2 25 | $82.0M | $-87.4M | ||
| Q1 25 | $7.4M | $238.9M | ||
| Q4 24 | $174.7M | $295.6M | ||
| Q3 24 | $91.7M | $241.8M | ||
| Q2 24 | $83.0M | $53.3M |
自由现金流BDCSTWD
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | — | ||
| Q3 25 | $65.3M | — | ||
| Q2 25 | $56.9M | — | ||
| Q1 25 | $-24.8M | — | ||
| Q4 24 | $116.4M | — | ||
| Q3 24 | $67.2M | — | ||
| Q2 24 | $61.0M | — |
自由现金流率BDCSTWD
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | — | ||
| Q3 25 | 9.4% | — | ||
| Q2 25 | 8.5% | — | ||
| Q1 25 | -4.0% | — | ||
| Q4 24 | 17.5% | — | ||
| Q3 24 | 10.3% | — | ||
| Q2 24 | 10.1% | — |
资本支出强度BDCSTWD
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | — | ||
| Q3 25 | 5.7% | — | ||
| Q2 25 | 3.7% | — | ||
| Q1 25 | 5.2% | — | ||
| Q4 24 | 8.8% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 3.6% | — |
现金转化率BDCSTWD
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | 5.04× | ||
| Q3 25 | 1.85× | 4.65× | ||
| Q2 25 | 1.34× | -0.67× | ||
| Q1 25 | 0.14× | 2.13× | ||
| Q4 24 | 2.99× | 5.72× | ||
| Q3 24 | 1.71× | 3.18× | ||
| Q2 24 | 1.69× | 0.68× |
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
BDC
暂无分部数据
STWD
| Commercial And Residential Lending Segment | $335.2M | 68% |
| Infrastructure Lending Segment | $70.3M | 14% |
| Property Segment | $57.8M | 12% |
| Other | $29.7M | 6% |
