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Healthpeak Properties（DOC）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
美泰的季度营收约是Healthpeak Properties的1.2倍（$862.2M vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 7.1%，领先66.1%），美泰同比增速更快（4.3% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $-88.1M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs -10.6%）
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。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
DOC vs MAT — 直观对比
营收规模更大
MAT
是对方的1.2倍
$719.4M
营收增速更快
MAT
高出1.2%
3.1%
净利率更高
DOC
高出66.1%
7.1%
自由现金流更多
DOC
多$445.1M
$-88.1M
两年增速更快
DOC
近两年复合增速
-10.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $862.2M |
| 净利润 | $114.0M | $61.0M |
| 毛利率 | — | 44.9% |
| 营业利润率 | 17.4% | — |
| 净利率 | 73.2% | 7.1% |
| 营收同比 | 3.1% | 4.3% |
| 净利润同比 | 2406.4% | 251.4% |
| 每股收益（稀释后） | $0.16 | $0.20 |
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DOCMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | $719.4M | $1.8B | ||
| Q3 25 | $705.9M | $1.7B | ||
| Q2 25 | $694.3M | $1.0B | ||
| Q1 25 | $702.9M | $826.6M | ||
| Q4 24 | $698.0M | $1.6B | ||
| Q3 24 | $700.4M | $1.8B | ||
| Q2 24 | $695.5M | $1.1B |
净利润DOCMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | $114.0M | $106.2M | ||
| Q3 25 | $-117.1M | $278.4M | ||
| Q2 25 | $31.7M | $53.4M | ||
| Q1 25 | $42.8M | $-40.3M | ||
| Q4 24 | $4.5M | $140.9M | ||
| Q3 24 | $85.9M | $372.4M | ||
| Q2 24 | $146.0M | $56.9M |
毛利率DOCMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | — | 45.9% | ||
| Q3 25 | 58.6% | 50.0% | ||
| Q2 25 | 60.2% | 50.9% | ||
| Q1 25 | 61.1% | 49.4% | ||
| Q4 24 | 60.3% | 50.7% | ||
| Q3 24 | 60.0% | 53.1% | ||
| Q2 24 | 60.6% | 49.2% |
营业利润率DOCMAT
| Q1 26 | — | — | ||
| Q4 25 | 17.4% | 8.0% | ||
| Q3 25 | 9.2% | 21.9% | ||
| Q2 25 | 5.7% | 7.7% | ||
| Q1 25 | 7.7% | -6.4% | ||
| Q4 24 | -2.2% | 9.6% | ||
| Q3 24 | 14.1% | 26.5% | ||
| Q2 24 | 22.3% | 7.7% |
净利率DOCMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | 73.2% | 6.0% | ||
| Q3 25 | -16.6% | 16.0% | ||
| Q2 25 | 4.6% | 5.2% | ||
| Q1 25 | 6.1% | -4.9% | ||
| Q4 24 | 0.7% | 8.6% | ||
| Q3 24 | 12.3% | 20.2% | ||
| Q2 24 | 21.0% | 5.3% |
每股收益（稀释后）DOCMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $0.16 | $0.32 | ||
| Q3 25 | $-0.17 | $0.88 | ||
| Q2 25 | $0.05 | $0.16 | ||
| Q1 25 | $0.06 | $-0.12 | ||
| Q4 24 | $0.02 | $0.40 | ||
| Q3 24 | $0.12 | $1.09 | ||
| Q2 24 | $0.21 | $0.17 |
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 | $866.0M |
| 总债务越低越好 | $9.8B | $2.3B |
| 股东权益账面价值 | $7.5B | $2.1B |
| 总资产 | $20.3B | $6.3B |
| 负债/权益比越低杠杆越低 | 1.31× | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资DOCMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | $467.5M | $1.2B | ||
| Q3 25 | $91.0M | $691.9M | ||
| Q2 25 | $89.4M | $870.5M | ||
| Q1 25 | $70.6M | $1.2B | ||
| Q4 24 | $119.8M | $1.4B | ||
| Q3 24 | $180.4M | $723.5M | ||
| Q2 24 | $106.9M | $722.4M |
总债务DOCMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $9.8B | $2.3B | ||
| Q3 25 | $9.1B | $2.3B | ||
| Q2 25 | $9.0B | $2.3B | ||
| Q1 25 | $8.9B | $2.3B | ||
| Q4 24 | $8.7B | $2.3B | ||
| Q3 24 | $8.6B | $2.3B | ||
| Q2 24 | $8.6B | $2.3B |
股东权益DOCMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | $7.5B | $2.2B | ||
| Q3 25 | $7.6B | $2.3B | ||
| Q2 25 | $7.9B | $2.2B | ||
| Q1 25 | $8.2B | $2.1B | ||
| Q4 24 | $8.4B | $2.3B | ||
| Q3 24 | $8.6B | $2.3B | ||
| Q2 24 | $8.8B | $2.0B |
总资产DOCMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $20.3B | $6.6B | ||
| Q3 25 | $19.6B | $6.6B | ||
| Q2 25 | $19.8B | $6.2B | ||
| Q1 25 | $19.8B | $6.2B | ||
| Q4 24 | $19.9B | $6.5B | ||
| Q3 24 | $20.0B | $6.5B | ||
| Q2 24 | $20.2B | $5.9B |
负债/权益比DOCMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | 1.31× | 1.04× | ||
| Q3 25 | 1.20× | 1.03× | ||
| Q2 25 | 1.14× | 1.08× | ||
| Q1 25 | 1.08× | 1.10× | ||
| Q4 24 | 1.04× | 1.03× | ||
| Q3 24 | 1.00× | 1.01× | ||
| Q2 24 | 0.98× | 1.18× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $-88.1M |
| 自由现金流率自由现金流/营收 | 49.6% | -10.2% |
| 资本支出强度资本支出/营收 | 124.4% | 7.6% |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流DOCMAT
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $796.6M | ||
| Q3 25 | $315.0M | $72.0M | ||
| Q2 25 | $363.5M | $-300.1M | ||
| Q1 25 | $279.4M | $24.8M | ||
| Q4 24 | $1.1B | $862.1M | ||
| Q3 24 | $318.2M | $155.8M | ||
| Q2 24 | $316.2M | $-252.9M |
自由现金流DOCMAT
| Q1 26 | — | $-88.1M | ||
| Q4 25 | $357.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $333.7M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流率DOCMAT
| Q1 26 | — | -10.2% | ||
| Q4 25 | 49.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 47.8% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资本支出强度DOCMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | 124.4% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 105.6% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率DOCMAT
| Q1 26 | — | — | ||
| Q4 25 | 10.99× | 7.50× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | 11.48× | -5.62× | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | 235.43× | 6.12× | ||
| Q3 24 | 3.71× | 0.42× | ||
| Q2 24 | 2.17× | -4.45× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
