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Healthpeak Properties（DOC）与林肯电气（LECO）财务数据对比。点击上方公司名可切换其他公司
林肯电气的季度营收约是Healthpeak Properties的1.5倍（$1.1B vs $702.9M），Healthpeak Properties净利率更高（51.6% vs 12.6%，领先39.0%），林肯电气同比增速更快（5.5% vs -6.6%），过去两年林肯电气的营收复合增速更高（4.9% vs 0.5%）
Healthpeak Properties是美国医疗地产领域的房地产投资信托基金，核心投资范畴覆盖老年住宅、生命科学相关物业及医疗办公楼三类资产。公司2007年于马里兰州组建，总部设在科罗拉多州丹佛市，在尔湾、纳什维尔、旧金山均设有办事处，截至2019年12月31日共持有617处物业的权益。
林肯电气是美国跨国焊接产品制造企业，总部位于俄亥俄州欧几里得市，主营弧焊设备、焊接配件、等离子及氧燃料切割设备、焊接机器人系统等，业务覆盖160余个国家和地区，在全球设有42个生产基地，同时在19个国家布局了生产联盟及合资企业。
DOC vs LECO — 直观对比
营收规模更大
LECO
是对方的1.5倍
$702.9M
营收增速更快
LECO
高出12.2%
-6.6%
净利率更高
DOC
高出39.0%
12.6%
两年增速更快
LECO
近两年复合增速
0.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $702.9M | $1.1B |
| 净利润 | $363.0M | $136.0M |
| 毛利率 | — | 34.7% |
| 营业利润率 | 0.7% | 17.1% |
| 净利率 | 51.6% | 12.6% |
| 营收同比 | -6.6% | 5.5% |
| 净利润同比 | 28.3% | -3.0% |
| 每股收益（稀释后） | $0.28 | $2.45 |
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DOCLECO
| Q1 26 | $702.9M | — | ||
| Q4 25 | $719.4M | $1.1B | ||
| Q3 25 | $705.9M | $1.1B | ||
| Q2 25 | $694.3M | $1.1B | ||
| Q1 25 | $702.9M | $1.0B | ||
| Q4 24 | $698.0M | $1.0B | ||
| Q3 24 | $700.4M | $983.8M | ||
| Q2 24 | $695.5M | $1.0B |
净利润DOCLECO
| Q1 26 | $363.0M | — | ||
| Q4 25 | $114.0M | $136.0M | ||
| Q3 25 | $-117.1M | $122.6M | ||
| Q2 25 | $31.7M | $143.4M | ||
| Q1 25 | $42.8M | $118.5M | ||
| Q4 24 | $4.5M | $140.2M | ||
| Q3 24 | $85.9M | $100.8M | ||
| Q2 24 | $146.0M | $101.7M |
毛利率DOCLECO
| Q1 26 | — | — | ||
| Q4 25 | — | 34.7% | ||
| Q3 25 | 58.6% | 36.7% | ||
| Q2 25 | 60.2% | 37.3% | ||
| Q1 25 | 61.1% | 36.4% | ||
| Q4 24 | 60.3% | 36.1% | ||
| Q3 24 | 60.0% | 35.8% | ||
| Q2 24 | 60.6% | 37.6% |
营业利润率DOCLECO
| Q1 26 | 0.7% | — | ||
| Q4 25 | 17.4% | 17.1% | ||
| Q3 25 | 9.2% | 16.6% | ||
| Q2 25 | 5.7% | 17.6% | ||
| Q1 25 | 7.7% | 16.4% | ||
| Q4 24 | -2.2% | 17.3% | ||
| Q3 24 | 14.1% | 14.8% | ||
| Q2 24 | 22.3% | 14.6% |
净利率DOCLECO
| Q1 26 | 51.6% | — | ||
| Q4 25 | 73.2% | 12.6% | ||
| Q3 25 | -16.6% | 11.6% | ||
| Q2 25 | 4.6% | 13.2% | ||
| Q1 25 | 6.1% | 11.8% | ||
| Q4 24 | 0.7% | 13.7% | ||
| Q3 24 | 12.3% | 10.2% | ||
| Q2 24 | 21.0% | 10.0% |
每股收益（稀释后）DOCLECO
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.16 | $2.45 | ||
| Q3 25 | $-0.17 | $2.21 | ||
| Q2 25 | $0.05 | $2.56 | ||
| Q1 25 | $0.06 | $2.10 | ||
| Q4 24 | $0.02 | $2.47 | ||
| Q3 24 | $0.12 | $1.77 | ||
| Q2 24 | $0.21 | $1.77 |
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 | $-1.2B | $308.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.8B | $1.5B |
| 总资产 | $21.6B | $3.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DOCLECO
| Q1 26 | $-1.2B | — | ||
| Q4 25 | $467.5M | $308.8M | ||
| Q3 25 | $91.0M | $293.0M | ||
| Q2 25 | $89.4M | $299.5M | ||
| Q1 25 | $70.6M | $394.7M | ||
| Q4 24 | $119.8M | $377.3M | ||
| Q3 24 | $180.4M | $404.2M | ||
| Q2 24 | $106.9M | $272.7M |
总债务DOCLECO
| Q1 26 | — | — | ||
| Q4 25 | $9.8B | — | ||
| Q3 25 | $9.1B | — | ||
| Q2 25 | $9.0B | — | ||
| Q1 25 | $8.9B | — | ||
| Q4 24 | $8.7B | — | ||
| Q3 24 | $8.6B | — | ||
| Q2 24 | $8.6B | — |
股东权益DOCLECO
| Q1 26 | $7.8B | — | ||
| Q4 25 | $7.5B | $1.5B | ||
| Q3 25 | $7.6B | $1.4B | ||
| Q2 25 | $7.9B | $1.4B | ||
| Q1 25 | $8.2B | $1.3B | ||
| Q4 24 | $8.4B | $1.3B | ||
| Q3 24 | $8.6B | $1.3B | ||
| Q2 24 | $8.8B | $1.3B |
总资产DOCLECO
| Q1 26 | $21.6B | — | ||
| Q4 25 | $20.3B | $3.8B | ||
| Q3 25 | $19.6B | $3.8B | ||
| Q2 25 | $19.8B | $3.7B | ||
| Q1 25 | $19.8B | $3.6B | ||
| Q4 24 | $19.9B | $3.5B | ||
| Q3 24 | $20.0B | $3.7B | ||
| Q2 24 | $20.2B | $3.4B |
负债/权益比DOCLECO
| Q1 26 | — | — | ||
| Q4 25 | 1.31× | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.08× | — | ||
| Q4 24 | 1.04× | — | ||
| Q3 24 | 1.00× | — | ||
| Q2 24 | 0.98× | — |
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 | — | $95.0M |
| 自由现金流经营现金流 - 资本支出 | — | $52.0M |
| 自由现金流率自由现金流/营收 | — | 4.8% |
| 资本支出强度资本支出/营收 | 3.4% | 4.0% |
| 现金转化率经营现金流/净利润 | — | 0.70× |
| 过去12个月自由现金流最近4个季度 | — | $534.2M |
8季度趋势，按日历期对齐
经营现金流DOCLECO
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $95.0M | ||
| Q3 25 | $315.0M | $236.7M | ||
| Q2 25 | $363.5M | $143.8M | ||
| Q1 25 | $279.4M | $185.7M | ||
| Q4 24 | $1.1B | $95.8M | ||
| Q3 24 | $318.2M | $199.2M | ||
| Q2 24 | $316.2M | $170.7M |
自由现金流DOCLECO
| Q1 26 | — | — | ||
| Q4 25 | $357.0M | $52.0M | ||
| Q3 25 | — | $205.1M | ||
| Q2 25 | — | $118.4M | ||
| Q1 25 | — | $158.7M | ||
| Q4 24 | $333.7M | $64.3M | ||
| Q3 24 | — | $163.5M | ||
| Q2 24 | — | $147.5M |
自由现金流率DOCLECO
| Q1 26 | — | — | ||
| Q4 25 | 49.6% | 4.8% | ||
| Q3 25 | — | 19.3% | ||
| Q2 25 | — | 10.9% | ||
| Q1 25 | — | 15.8% | ||
| Q4 24 | 47.8% | 6.3% | ||
| Q3 24 | — | 16.6% | ||
| Q2 24 | — | 14.4% |
资本支出强度DOCLECO
| Q1 26 | 3.4% | — | ||
| Q4 25 | 124.4% | 4.0% | ||
| Q3 25 | — | 3.0% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | — | 2.7% | ||
| Q4 24 | 105.6% | 3.1% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | 2.3% |
现金转化率DOCLECO
| Q1 26 | — | — | ||
| Q4 25 | 10.99× | 0.70× | ||
| Q3 25 | — | 1.93× | ||
| Q2 25 | 11.48× | 1.00× | ||
| Q1 25 | 6.52× | 1.57× | ||
| Q4 24 | 235.43× | 0.68× | ||
| Q3 24 | 3.71× | 1.98× | ||
| Q2 24 | 2.17× | 1.68× |
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
DOC
| Outpatient Medical | $320.5M | 46% |
| Lab | $217.6M | 31% |
| Senior Housing | $148.9M | 21% |
| Other | $14.3M | 2% |
| Corporate Non-segment | $1.5M | 0% |
LECO
| Americas Welding | $681.9M | 63% |
| International Welding | $259.4M | 24% |
| Harris Products Group | $137.4M | 13% |
