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Healthpeak Properties（DOC）与迈心诺（MASI）财务数据对比。点击上方公司名可切换其他公司
Healthpeak Properties的季度营收约是迈心诺的1.9倍（$719.4M vs $371.5M），Healthpeak Properties净利率更高（73.2% vs -27.0%，领先100.2%），Healthpeak Properties同比增速更快（3.1% vs -26.4%），Healthpeak Properties自由现金流更多（$357.0M vs $50.9M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs -17.7%）
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。
迈心诺（Masimo Corporation）是总部位于美国加利福尼亚州尔湾的健康科技及消费电子企业，核心产品包括面向医院及家用场景的患者监护设备、无创传感器及配套软件平台，同时也布局了消费级音频和可穿戴设备赛道。
DOC vs MASI — 直观对比
营收规模更大
DOC
是对方的1.9倍
$371.5M
营收增速更快
DOC
高出29.4%
-26.4%
净利率更高
DOC
高出100.2%
-27.0%
自由现金流更多
DOC
多$306.1M
$50.9M
两年增速更快
DOC
近两年复合增速
-17.7%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $371.5M |
| 净利润 | $114.0M | $-100.4M |
| 毛利率 | — | 62.1% |
| 营业利润率 | 17.4% | 22.5% |
| 净利率 | 73.2% | -27.0% |
| 营收同比 | 3.1% | -26.4% |
| 净利润同比 | 2406.4% | -1124.5% |
| 每股收益（稀释后） | $0.16 | $-1.84 |
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DOCMASI
| Q4 25 | $719.4M | — | ||
| Q3 25 | $705.9M | $371.5M | ||
| Q2 25 | $694.3M | $370.9M | ||
| Q1 25 | $702.9M | $372.0M | ||
| Q4 24 | $698.0M | $600.7M | ||
| Q3 24 | $700.4M | $504.6M | ||
| Q2 24 | $695.5M | $496.3M | ||
| Q1 24 | $606.6M | $492.8M |
净利润DOCMASI
| Q4 25 | $114.0M | — | ||
| Q3 25 | $-117.1M | $-100.4M | ||
| Q2 25 | $31.7M | $51.3M | ||
| Q1 25 | $42.8M | $-170.7M | ||
| Q4 24 | $4.5M | $-349.6M | ||
| Q3 24 | $85.9M | $9.8M | ||
| Q2 24 | $146.0M | $16.0M | ||
| Q1 24 | $6.7M | $18.9M |
毛利率DOCMASI
| Q4 25 | — | — | ||
| Q3 25 | 58.6% | 62.1% | ||
| Q2 25 | 60.2% | 62.9% | ||
| Q1 25 | 61.1% | 62.9% | ||
| Q4 24 | 60.3% | 40.7% | ||
| Q3 24 | 60.0% | 52.2% | ||
| Q2 24 | 60.6% | 51.3% | ||
| Q1 24 | 59.8% | 49.0% |
营业利润率DOCMASI
| Q4 25 | 17.4% | — | ||
| Q3 25 | 9.2% | 22.5% | ||
| Q2 25 | 5.7% | 17.4% | ||
| Q1 25 | 7.7% | 21.0% | ||
| Q4 24 | -2.2% | -59.8% | ||
| Q3 24 | 14.1% | 6.0% | ||
| Q2 24 | 22.3% | 5.7% | ||
| Q1 24 | 3.7% | 6.9% |
净利率DOCMASI
| Q4 25 | 73.2% | — | ||
| Q3 25 | -16.6% | -27.0% | ||
| Q2 25 | 4.6% | 13.8% | ||
| Q1 25 | 6.1% | -45.9% | ||
| Q4 24 | 0.7% | -58.2% | ||
| Q3 24 | 12.3% | 1.9% | ||
| Q2 24 | 21.0% | 3.2% | ||
| Q1 24 | 1.1% | 3.8% |
每股收益（稀释后）DOCMASI
| Q4 25 | $0.16 | — | ||
| Q3 25 | $-0.17 | $-1.84 | ||
| Q2 25 | $0.05 | $0.94 | ||
| Q1 25 | $0.06 | $-3.12 | ||
| Q4 24 | $0.02 | $-6.54 | ||
| Q3 24 | $0.12 | $0.18 | ||
| Q2 24 | $0.21 | $0.29 | ||
| Q1 24 | $0.01 | $0.35 |
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 | $467.5M | $312.3M |
| 总债务越低越好 | $9.8B | $559.1M |
| 股东权益账面价值 | $7.5B | $810.0M |
| 总资产 | $20.3B | $1.8B |
| 负债/权益比越低杠杆越低 | 1.31× | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资DOCMASI
| Q4 25 | $467.5M | — | ||
| Q3 25 | $91.0M | $312.3M | ||
| Q2 25 | $89.4M | $149.6M | ||
| Q1 25 | $70.6M | $130.8M | ||
| Q4 24 | $119.8M | $177.6M | ||
| Q3 24 | $180.4M | $158.5M | ||
| Q2 24 | $106.9M | $129.6M | ||
| Q1 24 | $101.8M | $157.6M |
总债务DOCMASI
| Q4 25 | $9.8B | — | ||
| Q3 25 | $9.1B | $559.1M | ||
| Q2 25 | $9.0B | $613.7M | ||
| Q1 25 | $8.9B | $651.0M | ||
| Q4 24 | $8.7B | $765.2M | ||
| Q3 24 | $8.6B | $772.6M | ||
| Q2 24 | $8.6B | $781.6M | ||
| Q1 24 | $8.8B | $876.0M |
股东权益DOCMASI
| Q4 25 | $7.5B | — | ||
| Q3 25 | $7.6B | $810.0M | ||
| Q2 25 | $7.9B | $1.0B | ||
| Q1 25 | $8.2B | $946.4M | ||
| Q4 24 | $8.4B | $1.1B | ||
| Q3 24 | $8.6B | $1.5B | ||
| Q2 24 | $8.8B | $1.4B | ||
| Q1 24 | $8.9B | $1.4B |
总资产DOCMASI
| Q4 25 | $20.3B | — | ||
| Q3 25 | $19.6B | $1.8B | ||
| Q2 25 | $19.8B | $2.4B | ||
| Q1 25 | $19.8B | $2.3B | ||
| Q4 24 | $19.9B | $2.6B | ||
| Q3 24 | $20.0B | $3.1B | ||
| Q2 24 | $20.2B | $2.9B | ||
| Q1 24 | $20.5B | $3.0B |
负债/权益比DOCMASI
| Q4 25 | 1.31× | — | ||
| Q3 25 | 1.20× | 0.69× | ||
| Q2 25 | 1.14× | 0.59× | ||
| Q1 25 | 1.08× | 0.69× | ||
| Q4 24 | 1.04× | 0.73× | ||
| Q3 24 | 1.00× | 0.53× | ||
| Q2 24 | 0.98× | 0.57× | ||
| Q1 24 | 0.99× | 0.64× |
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 | $1.3B | $56.8M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $50.9M |
| 自由现金流率自由现金流/营收 | 49.6% | 13.7% |
| 资本支出强度资本支出/营收 | 124.4% | 1.6% |
| 现金转化率经营现金流/净利润 | 10.99× | — |
| 过去12个月自由现金流最近4个季度 | — | $191.0M |
8季度趋势，按日历期对齐
经营现金流DOCMASI
| Q4 25 | $1.3B | — | ||
| Q3 25 | $315.0M | $56.8M | ||
| Q2 25 | $363.5M | $69.4M | ||
| Q1 25 | $279.4M | $31.1M | ||
| Q4 24 | $1.1B | $50.5M | ||
| Q3 24 | $318.2M | $25.6M | ||
| Q2 24 | $316.2M | $74.5M | ||
| Q1 24 | $152.6M | $45.8M |
自由现金流DOCMASI
| Q4 25 | $357.0M | — | ||
| Q3 25 | — | $50.9M | ||
| Q2 25 | — | $65.6M | ||
| Q1 25 | — | $28.5M | ||
| Q4 24 | $333.7M | $46.0M | ||
| Q3 24 | — | $16.9M | ||
| Q2 24 | — | $66.9M | ||
| Q1 24 | — | $37.6M |
自由现金流率DOCMASI
| Q4 25 | 49.6% | — | ||
| Q3 25 | — | 13.7% | ||
| Q2 25 | — | 17.7% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | 47.8% | 7.7% | ||
| Q3 24 | — | 3.3% | ||
| Q2 24 | — | 13.5% | ||
| Q1 24 | — | 7.6% |
资本支出强度DOCMASI
| Q4 25 | 124.4% | — | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | 105.6% | 0.7% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.7% |
现金转化率DOCMASI
| Q4 25 | 10.99× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 11.48× | 1.35× | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | 235.43× | — | ||
| Q3 24 | 3.71× | 2.61× | ||
| Q2 24 | 2.17× | 4.66× | ||
| Q1 24 | 22.85× | 2.42× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
