vs
COPT DEFENSE PROPERTIES（CDP）与SUBURBAN PROPANE PARTNERS LP（SPH）财务数据对比。点击上方公司名可切换其他公司
SUBURBAN PROPANE PARTNERS LP的季度营收约是COPT DEFENSE PROPERTIES的1.9倍（$370.4M vs $197.4M），COPT DEFENSE PROPERTIES净利率更高（20.0% vs 12.4%，领先7.6%），COPT DEFENSE PROPERTIES同比增速更快（7.6% vs -0.8%），COPT DEFENSE PROPERTIES自由现金流更多（$288.9M vs $-67.5M），过去两年COPT DEFENSE PROPERTIES的营收复合增速更高（1.1% vs -13.8%）
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。
Suburban Propane Partners LP是美国领先的丙烷、天然气、取暖油及相关能源产品分销商，服务覆盖住宅、商业、工业、农业等各类客户，同时提供暖通空调系统的安装、维护与维修服务，业务范围遍布全美。
CDP vs SPH — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $197.4M | $370.4M |
| 净利润 | $39.4M | $45.8M |
| 毛利率 | — | 64.7% |
| 营业利润率 | 19.9% | 18.3% |
| 净利率 | 20.0% | 12.4% |
| 营收同比 | 7.6% | -0.8% |
| 净利润同比 | 8.0% | 135.7% |
| 每股收益（稀释后） | $0.32 | $0.69 |
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
| Q4 25 | $197.4M | $370.4M | ||
| Q3 25 | $188.8M | $211.4M | ||
| Q2 25 | $189.9M | $260.1M | ||
| Q1 25 | $187.9M | $587.7M | ||
| Q4 24 | $183.4M | $373.3M | ||
| Q3 24 | $189.2M | $208.6M | ||
| Q2 24 | $187.3M | $254.6M | ||
| Q1 24 | $193.3M | $498.1M |
| Q4 25 | $39.4M | $45.8M | ||
| Q3 25 | $43.7M | $-35.1M | ||
| Q2 25 | $40.2M | $-14.8M | ||
| Q1 25 | $36.2M | $137.1M | ||
| Q4 24 | $36.5M | $19.4M | ||
| Q3 24 | $37.4M | $-44.6M | ||
| Q2 24 | $36.4M | $-17.2M | ||
| Q1 24 | $33.7M | $111.5M |
| Q4 25 | — | 64.7% | ||
| Q3 25 | — | 64.7% | ||
| Q2 25 | — | 61.7% | ||
| Q1 25 | — | 58.8% | ||
| Q4 24 | — | 60.6% | ||
| Q3 24 | — | 59.4% | ||
| Q2 24 | — | 62.9% | ||
| Q1 24 | — | 61.8% |
| Q4 25 | 19.9% | 18.3% | ||
| Q3 25 | 22.5% | -7.9% | ||
| Q2 25 | 21.0% | 2.1% | ||
| Q1 25 | 19.1% | 27.0% | ||
| Q4 24 | 19.7% | 15.8% | ||
| Q3 24 | 19.8% | -10.8% | ||
| Q2 24 | 19.4% | 3.2% | ||
| Q1 24 | 17.5% | 27.5% |
| Q4 25 | 20.0% | 12.4% | ||
| Q3 25 | 23.2% | -16.6% | ||
| Q2 25 | 21.1% | -5.7% | ||
| Q1 25 | 19.3% | 23.3% | ||
| Q4 24 | 19.9% | 5.2% | ||
| Q3 24 | 19.8% | -21.4% | ||
| Q2 24 | 19.4% | -6.8% | ||
| Q1 24 | 17.4% | 22.4% |
| Q4 25 | $0.32 | $0.69 | ||
| Q3 25 | $0.37 | $-0.55 | ||
| Q2 25 | $0.34 | $-0.23 | ||
| Q1 25 | $0.31 | $2.10 | ||
| Q4 24 | $0.31 | $0.30 | ||
| Q3 24 | $0.32 | $-0.69 | ||
| Q2 24 | $0.31 | $-0.27 | ||
| Q1 24 | $0.29 | $1.72 |
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 | $1.3M |
| 总债务越低越好 | $2.8B | $1.3B |
| 股东权益账面价值 | $1.5B | — |
| 总资产 | $4.7B | $2.4B |
| 负债/权益比越低杠杆越低 | 1.83× | — |
8季度趋势，按日历期对齐
| Q4 25 | $275.0M | $1.3M | ||
| Q3 25 | $23.7M | $405.0K | ||
| Q2 25 | $21.3M | $1.3M | ||
| Q1 25 | $24.3M | $3.9M | ||
| Q4 24 | $38.3M | $4.4M | ||
| Q3 24 | $34.5M | $3.2M | ||
| Q2 24 | $100.4M | $4.9M | ||
| Q1 24 | $123.1M | $4.4M |
| Q4 25 | $2.8B | $1.3B | ||
| Q3 25 | $2.4B | $1.2B | ||
| Q2 25 | $2.4B | $1.2B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $2.4B | $1.3B | ||
| Q3 24 | $2.4B | $1.2B | ||
| Q2 24 | $2.4B | $1.2B | ||
| Q1 24 | $2.4B | $1.2B |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $4.7B | $2.4B | ||
| Q3 25 | $4.4B | $2.3B | ||
| Q2 25 | $4.3B | $2.3B | ||
| Q1 25 | $4.3B | $2.4B | ||
| Q4 24 | $4.3B | $2.4B | ||
| Q3 24 | $4.2B | $2.3B | ||
| Q2 24 | $4.2B | $2.3B | ||
| Q1 24 | $4.2B | $2.3B |
| Q4 25 | 1.83× | — | ||
| Q3 25 | 1.62× | — | ||
| Q2 25 | 1.63× | — | ||
| Q1 25 | 1.62× | — | ||
| Q4 24 | 1.60× | — | ||
| 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 | $-47.7M |
| 自由现金流经营现金流 - 资本支出 | $288.9M | $-67.5M |
| 自由现金流率自由现金流/营收 | 146.4% | -18.2% |
| 资本支出强度资本支出/营收 | 10.7% | 5.3% |
| 现金转化率经营现金流/净利润 | 7.87× | -1.04× |
| 过去12个月自由现金流最近4个季度 | $501.5M | $61.9M |
8季度趋势，按日历期对齐
| Q4 25 | $309.9M | $-47.7M | ||
| Q3 25 | $68.6M | $41.8M | ||
| Q2 25 | $87.9M | $95.5M | ||
| Q1 25 | $72.1M | $40.1M | ||
| Q4 24 | $331.0M | $8.8M | ||
| Q3 24 | $65.1M | $36.8M | ||
| Q2 24 | $93.8M | $61.4M | ||
| Q1 24 | $71.0M | $75.1M |
| Q4 25 | $288.9M | $-67.5M | ||
| Q3 25 | $62.9M | $27.7M | ||
| Q2 25 | $84.5M | $80.9M | ||
| Q1 25 | $65.1M | $20.8M | ||
| Q4 24 | $299.6M | $-15.1M | ||
| Q3 24 | $61.0M | $17.7M | ||
| Q2 24 | $88.4M | $46.8M | ||
| Q1 24 | $57.9M | $60.6M |
| Q4 25 | 146.4% | -18.2% | ||
| Q3 25 | 33.3% | 13.1% | ||
| Q2 25 | 44.5% | 31.1% | ||
| Q1 25 | 34.7% | 3.5% | ||
| Q4 24 | 163.3% | -4.0% | ||
| Q3 24 | 32.3% | 8.5% | ||
| Q2 24 | 47.2% | 18.4% | ||
| Q1 24 | 30.0% | 12.2% |
| Q4 25 | 10.7% | 5.3% | ||
| Q3 25 | 3.0% | 6.7% | ||
| Q2 25 | 1.8% | 5.6% | ||
| Q1 25 | 3.7% | 3.3% | ||
| Q4 24 | 17.1% | 6.4% | ||
| Q3 24 | 2.1% | 9.1% | ||
| Q2 24 | 2.9% | 5.8% | ||
| Q1 24 | 6.8% | 2.9% |
| Q4 25 | 7.87× | -1.04× | ||
| Q3 25 | 1.57× | — | ||
| Q2 25 | 2.19× | — | ||
| Q1 25 | 1.99× | 0.29× | ||
| Q4 24 | 9.08× | 0.45× | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 2.58× | — | ||
| Q1 24 | 2.11× | 0.67× |
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
SPH
| Propane | $326.4M | 88% |
| Other Sales Revenue Net | $19.9M | 5% |
| Fuel Oil And Refined Fuels | $18.2M | 5% |
| Natural Gas And Electricity | $5.9M | 2% |
| Wholesale | $4.1M | 1% |
