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Healthpeak Properties（DOC）与LivaNova PLC（LIVN）财务数据对比。点击上方公司名可切换其他公司
Healthpeak Properties的季度营收约是LivaNova PLC的1.9倍（$702.9M vs $360.9M），Healthpeak Properties净利率更高（51.6% vs 8.6%，领先43.1%），LivaNova PLC同比增速更快（12.1% vs -6.6%），过去两年LivaNova PLC的营收复合增速更高（10.6% 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。
LivaNova PLC是一家深耕医疗设备领域的企业，总部位于英国，核心业务为研发心脏外科及神经调控类医疗设备。该公司由美国Cyberonics公司与意大利Sorin公司于2015年以27亿美元对价合并成立，目前在纳斯达克挂牌交易，股票代码为LIVN。
DOC vs LIVN — 直观对比
营收规模更大
DOC
是对方的1.9倍
$360.9M
营收增速更快
LIVN
高出18.8%
-6.6%
净利率更高
DOC
高出43.1%
8.6%
两年增速更快
LIVN
近两年复合增速
0.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $702.9M | $360.9M |
| 净利润 | $363.0M | $30.9M |
| 毛利率 | — | 65.2% |
| 营业利润率 | 0.7% | 11.8% |
| 净利率 | 51.6% | 8.6% |
| 营收同比 | -6.6% | 12.1% |
| 净利润同比 | 28.3% | -44.7% |
| 每股收益（稀释后） | $0.28 | $0.57 |
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DOCLIVN
| Q1 26 | $702.9M | — | ||
| Q4 25 | $719.4M | $360.9M | ||
| Q3 25 | $705.9M | $357.8M | ||
| Q2 25 | $694.3M | $352.5M | ||
| Q1 25 | $702.9M | $316.9M | ||
| Q4 24 | $698.0M | $321.8M | ||
| Q3 24 | $700.4M | $318.1M | ||
| Q2 24 | $695.5M | $318.6M |
净利润DOCLIVN
| Q1 26 | $363.0M | — | ||
| Q4 25 | $114.0M | $30.9M | ||
| Q3 25 | $-117.1M | $26.8M | ||
| Q2 25 | $31.7M | $27.2M | ||
| Q1 25 | $42.8M | $-327.3M | ||
| Q4 24 | $4.5M | $55.9M | ||
| Q3 24 | $85.9M | $33.0M | ||
| Q2 24 | $146.0M | $16.3M |
毛利率DOCLIVN
| Q1 26 | — | — | ||
| Q4 25 | — | 65.2% | ||
| Q3 25 | 58.6% | 68.4% | ||
| Q2 25 | 60.2% | 67.8% | ||
| Q1 25 | 61.1% | 69.7% | ||
| Q4 24 | 60.3% | 68.2% | ||
| Q3 24 | 60.0% | 70.8% | ||
| Q2 24 | 60.6% | 68.7% |
营业利润率DOCLIVN
| Q1 26 | 0.7% | — | ||
| Q4 25 | 17.4% | 11.8% | ||
| Q3 25 | 9.2% | 15.1% | ||
| Q2 25 | 5.7% | 15.4% | ||
| Q1 25 | 7.7% | 15.3% | ||
| Q4 24 | -2.2% | 11.5% | ||
| Q3 24 | 14.1% | 11.2% | ||
| Q2 24 | 22.3% | 12.6% |
净利率DOCLIVN
| Q1 26 | 51.6% | — | ||
| Q4 25 | 73.2% | 8.6% | ||
| Q3 25 | -16.6% | 7.5% | ||
| Q2 25 | 4.6% | 7.7% | ||
| Q1 25 | 6.1% | -103.3% | ||
| Q4 24 | 0.7% | 17.4% | ||
| Q3 24 | 12.3% | 10.4% | ||
| Q2 24 | 21.0% | 5.1% |
每股收益（稀释后）DOCLIVN
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.16 | $0.57 | ||
| Q3 25 | $-0.17 | $0.49 | ||
| Q2 25 | $0.05 | $0.50 | ||
| Q1 25 | $0.06 | $-6.01 | ||
| Q4 24 | $0.02 | $1.04 | ||
| Q3 24 | $0.12 | $0.60 | ||
| Q2 24 | $0.21 | $0.30 |
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 | $635.6M |
| 总债务越低越好 | — | $376.1M |
| 股东权益账面价值 | $7.8B | $1.2B |
| 总资产 | $21.6B | $2.6B |
| 负债/权益比越低杠杆越低 | — | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资DOCLIVN
| Q1 26 | $-1.2B | — | ||
| Q4 25 | $467.5M | $635.6M | ||
| Q3 25 | $91.0M | $646.1M | ||
| Q2 25 | $89.4M | $593.6M | ||
| Q1 25 | $70.6M | $738.4M | ||
| Q4 24 | $119.8M | $428.9M | ||
| Q3 24 | $180.4M | $346.4M | ||
| Q2 24 | $106.9M | $329.2M |
总债务DOCLIVN
| Q1 26 | — | — | ||
| Q4 25 | $9.8B | $376.1M | ||
| Q3 25 | $9.1B | $434.5M | ||
| Q2 25 | $9.0B | $430.6M | ||
| Q1 25 | $8.9B | $628.2M | ||
| Q4 24 | $8.7B | $627.0M | ||
| Q3 24 | $8.6B | $625.5M | ||
| Q2 24 | $8.6B | $624.5M |
股东权益DOCLIVN
| Q1 26 | $7.8B | — | ||
| Q4 25 | $7.5B | $1.2B | ||
| Q3 25 | $7.6B | $1.2B | ||
| Q2 25 | $7.9B | $1.1B | ||
| Q1 25 | $8.2B | $1.0B | ||
| Q4 24 | $8.4B | $1.3B | ||
| Q3 24 | $8.6B | $1.3B | ||
| Q2 24 | $8.8B | $1.2B |
总资产DOCLIVN
| Q1 26 | $21.6B | — | ||
| Q4 25 | $20.3B | $2.6B | ||
| Q3 25 | $19.6B | $2.6B | ||
| Q2 25 | $19.8B | $2.5B | ||
| Q1 25 | $19.8B | $2.6B | ||
| Q4 24 | $19.9B | $2.5B | ||
| Q3 24 | $20.0B | $2.5B | ||
| Q2 24 | $20.2B | $2.5B |
负债/权益比DOCLIVN
| Q1 26 | — | — | ||
| Q4 25 | 1.31× | 0.31× | ||
| Q3 25 | 1.20× | 0.38× | ||
| Q2 25 | 1.14× | 0.38× | ||
| Q1 25 | 1.08× | 0.61× | ||
| Q4 24 | 1.04× | 0.47× | ||
| Q3 24 | 1.00× | 0.48× | ||
| Q2 24 | 0.98× | 0.50× |
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 | — | $82.4M |
| 自由现金流经营现金流 - 资本支出 | — | $50.2M |
| 自由现金流率自由现金流/营收 | — | 13.9% |
| 资本支出强度资本支出/营收 | 3.4% | 8.9% |
| 现金转化率经营现金流/净利润 | — | 2.67× |
| 过去12个月自由现金流最近4个季度 | — | $173.3M |
8季度趋势，按日历期对齐
经营现金流DOCLIVN
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $82.4M | ||
| Q3 25 | $315.0M | $85.1M | ||
| Q2 25 | $363.5M | $62.9M | ||
| Q1 25 | $279.4M | $24.0M | ||
| Q4 24 | $1.1B | $78.7M | ||
| Q3 24 | $318.2M | $51.0M | ||
| Q2 24 | $316.2M | $43.4M |
自由现金流DOCLIVN
| Q1 26 | — | — | ||
| Q4 25 | $357.0M | $50.2M | ||
| Q3 25 | — | $62.2M | ||
| Q2 25 | — | $47.8M | ||
| Q1 25 | — | $13.2M | ||
| Q4 24 | $333.7M | $68.3M | ||
| Q3 24 | — | $32.8M | ||
| Q2 24 | — | $31.2M |
自由现金流率DOCLIVN
| Q1 26 | — | — | ||
| Q4 25 | 49.6% | 13.9% | ||
| Q3 25 | — | 17.4% | ||
| Q2 25 | — | 13.6% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | 47.8% | 21.2% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 9.8% |
资本支出强度DOCLIVN
| Q1 26 | 3.4% | — | ||
| Q4 25 | 124.4% | 8.9% | ||
| Q3 25 | — | 6.4% | ||
| Q2 25 | — | 4.3% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | 105.6% | 3.2% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 3.8% |
现金转化率DOCLIVN
| Q1 26 | — | — | ||
| Q4 25 | 10.99× | 2.67× | ||
| Q3 25 | — | 3.18× | ||
| Q2 25 | 11.48× | 2.32× | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | 235.43× | 1.41× | ||
| Q3 24 | 3.71× | 1.55× | ||
| Q2 24 | 2.17× | 2.65× |
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% |
LIVN
| Other | $169.4M | 47% |
| Neuromodulation Segment | $119.7M | 33% |
| Cardiopulmonary Segment | $71.8M | 20% |
