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CenterPoint Energy（CNP）与Welltower（WELL）财务数据对比。点击上方公司名可切换其他公司
Welltower的季度营收约是CenterPoint Energy的1.4倍（$3.4B vs $2.4B），Welltower净利率更高（22.4% vs 10.8%，领先11.6%），Welltower同比增速更快（38.3% vs 10.7%），过去两年Welltower的营收复合增速更高（55.1% vs -3.1%）
CenterPoint Energy是总部位于美国得克萨斯州休斯敦的公用事业企业，位列《财富》美国500强，为印第安纳、俄亥俄、路易斯安那、明尼苏达、密西西比、得克萨斯六州多个区域的用户提供电力及天然气公用事业服务，曾使用Reliant Energy、Houston Industries等名称开展业务。
Welltower Inc.是一家专注于医疗基础设施领域的房地产投资信托企业，核心业务为医疗类地产投资运营。截至2022年12月31日，公司投资的物业总量约3000处，全部布局于美国、加拿大及英国市场，是全球医疗地产投资领域的代表性企业之一。
CNP vs WELL — 直观对比
营收规模更大
WELL
是对方的1.4倍
$2.4B
营收增速更快
WELL
高出27.7%
10.7%
净利率更高
WELL
高出11.6%
10.8%
两年增速更快
WELL
近两年复合增速
-3.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $3.4B |
| 净利润 | $264.0M | $752.3M |
| 毛利率 | — | — |
| 营业利润率 | 22.2% | — |
| 净利率 | 10.8% | 22.4% |
| 营收同比 | 10.7% | 38.3% |
| 净利润同比 | 6.5% | 192.4% |
| 每股收益（稀释后） | $0.40 | — |
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CNPWELL
| Q1 26 | — | $3.4B | ||
| Q4 25 | $2.4B | $2.6B | ||
| Q3 25 | $2.0B | $2.1B | ||
| Q2 25 | $2.0B | $2.0B | ||
| Q1 25 | $3.0B | $1.9B | ||
| Q4 24 | $2.2B | $1.8B | ||
| Q3 24 | $1.8B | $1.5B | ||
| Q2 24 | $1.9B | $1.4B |
净利润CNPWELL
| Q1 26 | — | $752.3M | ||
| Q4 25 | $264.0M | $117.8M | ||
| Q3 25 | $293.0M | $282.2M | ||
| Q2 25 | $198.0M | $304.6M | ||
| Q1 25 | $297.0M | $257.3M | ||
| Q4 24 | $248.0M | $123.8M | ||
| Q3 24 | $193.0M | $456.8M | ||
| Q2 24 | $228.0M | $260.7M |
毛利率CNPWELL
| Q1 26 | — | — | ||
| Q4 25 | — | 24.3% | ||
| Q3 25 | 99.9% | 23.5% | ||
| Q2 25 | 99.9% | 23.2% | ||
| Q1 25 | 100.0% | 21.6% | ||
| Q4 24 | 100.0% | 20.0% | ||
| Q3 24 | 99.9% | 19.8% | ||
| Q2 24 | — | 20.2% |
营业利润率CNPWELL
| Q1 26 | — | — | ||
| Q4 25 | 22.2% | — | ||
| Q3 25 | 25.2% | 14.2% | ||
| Q2 25 | 21.4% | 15.1% | ||
| Q1 25 | 22.0% | 10.7% | ||
| Q4 24 | 21.9% | 6.2% | ||
| Q3 24 | 22.9% | 12.2% | ||
| Q2 24 | 24.5% | 6.5% |
净利率CNPWELL
| Q1 26 | — | 22.4% | ||
| Q4 25 | 10.8% | 4.6% | ||
| Q3 25 | 14.7% | 13.7% | ||
| Q2 25 | 10.1% | 15.5% | ||
| Q1 25 | 10.0% | 13.8% | ||
| Q4 24 | 11.3% | 7.0% | ||
| Q3 24 | 10.4% | 30.2% | ||
| Q2 24 | 12.0% | 18.7% |
每股收益（稀释后）CNPWELL
| Q1 26 | — | — | ||
| Q4 25 | $0.40 | $0.13 | ||
| Q3 25 | $0.45 | $0.41 | ||
| Q2 25 | $0.30 | $0.45 | ||
| Q1 25 | $0.45 | $0.40 | ||
| Q4 24 | $0.37 | $0.20 | ||
| Q3 24 | $0.30 | $0.73 | ||
| Q2 24 | $0.36 | $0.42 |
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 | $548.0M | $4.7B |
| 总债务越低越好 | $20.6B | — |
| 股东权益账面价值 | $11.2B | $44.7B |
| 总资产 | $46.5B | $67.2B |
| 负债/权益比越低杠杆越低 | 1.84× | — |
8季度趋势，按日历期对齐
现金及短期投资CNPWELL
| Q1 26 | — | $4.7B | ||
| Q4 25 | $548.0M | $5.0B | ||
| Q3 25 | $616.0M | $6.8B | ||
| Q2 25 | $776.0M | $4.4B | ||
| Q1 25 | $1.9B | $3.5B | ||
| Q4 24 | $585.0M | $3.5B | ||
| Q3 24 | $643.0M | $3.6B | ||
| Q2 24 | $543.0M | $2.8B |
总债务CNPWELL
| Q1 26 | — | — | ||
| Q4 25 | $20.6B | $19.2B | ||
| Q3 25 | — | $16.9B | ||
| Q2 25 | — | $16.0B | ||
| Q1 25 | — | $15.7B | ||
| Q4 24 | $20.4B | $15.5B | ||
| Q3 24 | — | $15.8B | ||
| Q2 24 | — | $13.9B |
股东权益CNPWELL
| Q1 26 | — | $44.7B | ||
| Q4 25 | $11.2B | $42.1B | ||
| Q3 25 | $11.0B | $38.8B | ||
| Q2 25 | $11.0B | $35.9B | ||
| Q1 25 | $11.0B | $34.0B | ||
| Q4 24 | $10.7B | $32.0B | ||
| Q3 24 | $10.5B | $30.3B | ||
| Q2 24 | $10.4B | $29.0B |
总资产CNPWELL
| Q1 26 | — | $67.2B | ||
| Q4 25 | $46.5B | $67.3B | ||
| Q3 25 | $45.0B | $59.5B | ||
| Q2 25 | $44.1B | $55.8B | ||
| Q1 25 | $44.5B | $53.3B | ||
| Q4 24 | $43.8B | $51.0B | ||
| Q3 24 | $42.9B | $49.0B | ||
| Q2 24 | $41.0B | $45.5B |
负债/权益比CNPWELL
| Q1 26 | — | — | ||
| Q4 25 | 1.84× | 0.46× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.46× | ||
| Q4 24 | 1.91× | 0.49× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.48× |
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 | $774.0M | — |
| 自由现金流经营现金流 - 资本支出 | $-707.0M | — |
| 自由现金流率自由现金流/营收 | -29.0% | — |
| 资本支出强度资本支出/营收 | 60.7% | — |
| 现金转化率经营现金流/净利润 | 2.93× | — |
| 过去12个月自由现金流最近4个季度 | $-2.4B | — |
8季度趋势，按日历期对齐
经营现金流CNPWELL
| Q1 26 | — | — | ||
| Q4 25 | $774.0M | $654.3M | ||
| Q3 25 | $742.0M | $858.4M | ||
| Q2 25 | $560.0M | $770.0M | ||
| Q1 25 | $410.0M | $599.0M | ||
| Q4 24 | $889.0M | $559.2M | ||
| Q3 24 | $136.0M | $685.0M | ||
| Q2 24 | $576.0M | $605.4M |
自由现金流CNPWELL
| Q1 26 | — | — | ||
| Q4 25 | $-707.0M | $340.4M | ||
| Q3 25 | $-480.0M | $595.3M | ||
| Q2 25 | $-569.0M | $537.2M | ||
| Q1 25 | $-628.0M | $358.6M | ||
| Q4 24 | $-1.1B | $240.4M | ||
| Q3 24 | $-708.0M | $443.8M | ||
| Q2 24 | $-236.0M | $440.3M |
自由现金流率CNPWELL
| Q1 26 | — | — | ||
| Q4 25 | -29.0% | 13.3% | ||
| Q3 25 | -24.1% | 28.9% | ||
| Q2 25 | -29.1% | 27.3% | ||
| Q1 25 | -21.2% | 19.2% | ||
| Q4 24 | -51.0% | 13.6% | ||
| Q3 24 | -38.3% | 29.4% | ||
| Q2 24 | -12.4% | 31.6% |
资本支出强度CNPWELL
| Q1 26 | — | — | ||
| Q4 25 | 60.7% | 12.3% | ||
| Q3 25 | 61.4% | 12.8% | ||
| Q2 25 | 57.8% | 11.8% | ||
| Q1 25 | 35.1% | 12.9% | ||
| Q4 24 | 91.3% | 18.1% | ||
| Q3 24 | 45.6% | 16.0% | ||
| Q2 24 | 42.6% | 11.8% |
现金转化率CNPWELL
| Q1 26 | — | — | ||
| Q4 25 | 2.93× | 5.56× | ||
| Q3 25 | 2.53× | 3.04× | ||
| Q2 25 | 2.83× | 2.53× | ||
| Q1 25 | 1.38× | 2.33× | ||
| Q4 24 | 3.58× | 4.52× | ||
| Q3 24 | 0.70× | 1.50× | ||
| Q2 24 | 2.53× | 2.32× |
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
CNP
| Electric Segment | $945.0M | 39% |
| Electric | $890.0M | 37% |
| Other | $603.0M | 25% |
WELL
| Resident fees and services | $2.8B | 83% |
| Rental income | $453.8M | 14% |
| Other | $117.2M | 3% |
