vs
COPT DEFENSE PROPERTIES（CDP）与H2O AMERICA（HTO）财务数据对比。点击上方公司名可切换其他公司
H2O AMERICA的季度营收约是COPT DEFENSE PROPERTIES的1.0倍（$199.4M vs $197.4M），COPT DEFENSE PROPERTIES净利率更高（20.0% vs 8.1%，领先11.8%），COPT DEFENSE PROPERTIES同比增速更快（7.6% vs 1.5%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs 1.1%）
COPT Defense Properties是一家专业房地产投资信托基金，重点投资写字楼物业，资产主要布局于华盛顿大都会区的近郊区域，核心租户为美国政府及国防军工行业企业。截至2024年12月31日，公司旗下共持有164栋写字楼，总面积达1650万平方英尺，同时运营31个单租户数据中心，总面积590万平方英尺。
H2O Wireless是美国的预付费移动通信服务商，依托AT&T网络运营，隶属于MVNO（移动虚拟网络运营商）Locus通信，自2019年起Locus成为Telrite控股的子公司，此前2010年起曾是KDDI美国旗下资产。该品牌主打无限制套餐服务，支持用户自带或购买无锁智能手机入网，AT&T合约机/锁网机也可兼容使用。
CDP vs HTO — 直观对比
营收规模更大
HTO
是对方的1.0倍
$197.4M
营收增速更快
CDP
高出6.1%
1.5%
净利率更高
CDP
高出11.8%
8.1%
两年增速更快
HTO
近两年复合增速
1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $197.4M | $199.4M |
| 净利润 | $39.4M | $16.2M |
| 毛利率 | — | — |
| 营业利润率 | 19.9% | 16.6% |
| 净利率 | 20.0% | 8.1% |
| 营收同比 | 7.6% | 1.5% |
| 净利润同比 | 8.0% | -29.2% |
| 每股收益（稀释后） | $0.32 | $0.45 |
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CDPHTO
| Q4 25 | $197.4M | $199.4M | ||
| Q3 25 | $188.8M | $243.5M | ||
| Q2 25 | $189.9M | $197.8M | ||
| Q1 25 | $187.9M | $164.9M | ||
| Q4 24 | $183.4M | $196.5M | ||
| Q3 24 | $189.2M | $216.7M | ||
| Q2 24 | $187.3M | $173.1M | ||
| Q1 24 | $193.3M | $150.0M |
净利润CDPHTO
| Q4 25 | $39.4M | $16.2M | ||
| Q3 25 | $43.7M | $45.1M | ||
| Q2 25 | $40.2M | $24.7M | ||
| Q1 25 | $36.2M | $16.6M | ||
| Q4 24 | $36.5M | $22.9M | ||
| Q3 24 | $37.4M | $38.7M | ||
| Q2 24 | $36.4M | $20.7M | ||
| Q1 24 | $33.7M | $11.7M |
营业利润率CDPHTO
| Q4 25 | 19.9% | 16.6% | ||
| Q3 25 | 22.5% | 26.5% | ||
| Q2 25 | 21.0% | 22.2% | ||
| Q1 25 | 19.1% | 21.8% | ||
| Q4 24 | 19.7% | 22.2% | ||
| Q3 24 | 19.8% | 26.9% | ||
| Q2 24 | 19.4% | 23.4% | ||
| Q1 24 | 17.5% | 18.6% |
净利率CDPHTO
| Q4 25 | 20.0% | 8.1% | ||
| Q3 25 | 23.2% | 18.5% | ||
| Q2 25 | 21.1% | 12.5% | ||
| Q1 25 | 19.3% | 10.0% | ||
| Q4 24 | 19.9% | 11.7% | ||
| Q3 24 | 19.8% | 17.8% | ||
| Q2 24 | 19.4% | 12.0% | ||
| Q1 24 | 17.4% | 7.8% |
每股收益（稀释后）CDPHTO
| Q4 25 | $0.32 | $0.45 | ||
| Q3 25 | $0.37 | $1.27 | ||
| Q2 25 | $0.34 | $0.71 | ||
| Q1 25 | $0.31 | $0.49 | ||
| Q4 24 | $0.31 | $0.70 | ||
| Q3 24 | $0.32 | $1.17 | ||
| Q2 24 | $0.31 | $0.64 | ||
| Q1 24 | $0.29 | $0.36 |
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 | $275.0M | $20.7M |
| 总债务越低越好 | $2.8B | $1.9B |
| 股东权益账面价值 | $1.5B | $1.5B |
| 总资产 | $4.7B | $5.1B |
| 负债/权益比越低杠杆越低 | 1.83× | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资CDPHTO
| Q4 25 | $275.0M | $20.7M | ||
| Q3 25 | $23.7M | $11.3M | ||
| Q2 25 | $21.3M | $19.8M | ||
| Q1 25 | $24.3M | $23.7M | ||
| Q4 24 | $38.3M | $11.1M | ||
| Q3 24 | $34.5M | $4.0M | ||
| Q2 24 | $100.4M | $22.8M | ||
| Q1 24 | $123.1M | $4.5M |
总债务CDPHTO
| Q4 25 | $2.8B | $1.9B | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.4B | — | ||
| Q4 24 | $2.4B | $1.7B | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.4B | — |
股东权益CDPHTO
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.5B | $1.5B | ||
| Q1 25 | $1.5B | $1.4B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $1.5B | $1.3B | ||
| Q2 24 | $1.5B | $1.3B | ||
| Q1 24 | $1.5B | $1.2B |
总资产CDPHTO
| Q4 25 | $4.7B | $5.1B | ||
| Q3 25 | $4.4B | $5.0B | ||
| Q2 25 | $4.3B | $4.8B | ||
| Q1 25 | $4.3B | $4.7B | ||
| Q4 24 | $4.3B | $4.7B | ||
| Q3 24 | $4.2B | $4.6B | ||
| Q2 24 | $4.2B | $4.4B | ||
| Q1 24 | $4.2B | $4.4B |
负债/权益比CDPHTO
| Q4 25 | 1.83× | 1.23× | ||
| Q3 25 | 1.62× | — | ||
| Q2 25 | 1.63× | — | ||
| Q1 25 | 1.62× | — | ||
| Q4 24 | 1.60× | 1.26× | ||
| Q3 24 | 1.61× | — | ||
| Q2 24 | 1.61× | — | ||
| Q1 24 | 1.63× | — |
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 | $309.9M | $63.5M |
| 自由现金流经营现金流 - 资本支出 | $288.9M | — |
| 自由现金流率自由现金流/营收 | 146.4% | — |
| 资本支出强度资本支出/营收 | 10.7% | — |
| 现金转化率经营现金流/净利润 | 7.87× | 3.92× |
| 过去12个月自由现金流最近4个季度 | $501.5M | — |
8季度趋势，按日历期对齐
经营现金流CDPHTO
| Q4 25 | $309.9M | $63.5M | ||
| Q3 25 | $68.6M | $77.3M | ||
| Q2 25 | $87.9M | $60.8M | ||
| Q1 25 | $72.1M | $43.2M | ||
| Q4 24 | $331.0M | $41.5M | ||
| Q3 24 | $65.1M | $53.5M | ||
| Q2 24 | $93.8M | $49.3M | ||
| Q1 24 | $71.0M | $51.2M |
自由现金流CDPHTO
| Q4 25 | $288.9M | — | ||
| Q3 25 | $62.9M | — | ||
| Q2 25 | $84.5M | — | ||
| Q1 25 | $65.1M | — | ||
| Q4 24 | $299.6M | — | ||
| Q3 24 | $61.0M | — | ||
| Q2 24 | $88.4M | — | ||
| Q1 24 | $57.9M | — |
自由现金流率CDPHTO
| Q4 25 | 146.4% | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 44.5% | — | ||
| Q1 25 | 34.7% | — | ||
| Q4 24 | 163.3% | — | ||
| Q3 24 | 32.3% | — | ||
| Q2 24 | 47.2% | — | ||
| Q1 24 | 30.0% | — |
资本支出强度CDPHTO
| Q4 25 | 10.7% | — | ||
| Q3 25 | 3.0% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 17.1% | — | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 6.8% | — |
现金转化率CDPHTO
| Q4 25 | 7.87× | 3.92× | ||
| Q3 25 | 1.57× | 1.71× | ||
| Q2 25 | 2.19× | 2.47× | ||
| Q1 25 | 1.99× | 2.61× | ||
| Q4 24 | 9.08× | 1.81× | ||
| Q3 24 | 1.74× | 1.39× | ||
| Q2 24 | 2.58× | 2.38× | ||
| Q1 24 | 2.11× | 4.38× |
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
CDP
暂无分部数据
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
