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Healthpeak Properties（DOC）与MERIT MEDICAL SYSTEMS INC（MMSI）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MERIT MEDICAL SYSTEMS INC的1.9倍（$719.4M vs $381.9M），Healthpeak Properties净利率更高（73.2% vs 10.7%，领先62.4%），MERIT MEDICAL SYSTEMS INC同比增速更快（7.5% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $24.7M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs 6.3%）
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。
梅里特医疗系统公司是一家全球性医疗设备企业，设计、生产和销售适用于心脏病学、放射学、肿瘤学、内窥镜及重症监护领域的介入和诊断产品，为全球医院及医疗机构提供微创医疗解决方案，助力提升患者疗效和临床操作效率。
DOC vs MMSI — 直观对比
营收规模更大
DOC
是对方的1.9倍
$381.9M
营收增速更快
MMSI
高出4.4%
3.1%
净利率更高
DOC
高出62.4%
10.7%
自由现金流更多
DOC
多$332.3M
$24.7M
两年增速更快
DOC
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $381.9M |
| 净利润 | $114.0M | $41.0M |
| 毛利率 | — | 48.4% |
| 营业利润率 | 17.4% | 11.6% |
| 净利率 | 73.2% | 10.7% |
| 营收同比 | 3.1% | 7.5% |
| 净利润同比 | 2406.4% | 36.0% |
| 每股收益（稀释后） | $0.16 | $0.68 |
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DOCMMSI
| Q1 26 | — | $381.9M | ||
| Q4 25 | $719.4M | $393.9M | ||
| Q3 25 | $705.9M | $384.2M | ||
| Q2 25 | $694.3M | $382.5M | ||
| Q1 25 | $702.9M | $355.4M | ||
| Q4 24 | $698.0M | $355.2M | ||
| Q3 24 | $700.4M | $339.8M | ||
| Q2 24 | $695.5M | $338.0M |
净利润DOCMMSI
| Q1 26 | — | $41.0M | ||
| Q4 25 | $114.0M | $38.0M | ||
| Q3 25 | $-117.1M | $27.8M | ||
| Q2 25 | $31.7M | $32.6M | ||
| Q1 25 | $42.8M | $30.1M | ||
| Q4 24 | $4.5M | $27.9M | ||
| Q3 24 | $85.9M | $28.4M | ||
| Q2 24 | $146.0M | $35.7M |
毛利率DOCMMSI
| Q1 26 | — | 48.4% | ||
| Q4 25 | — | 49.6% | ||
| Q3 25 | 58.6% | 48.5% | ||
| Q2 25 | 60.2% | 48.2% | ||
| Q1 25 | 61.1% | 48.4% | ||
| Q4 24 | 60.3% | 48.7% | ||
| Q3 24 | 60.0% | 46.4% | ||
| Q2 24 | 60.6% | 47.7% |
营业利润率DOCMMSI
| Q1 26 | — | 11.6% | ||
| Q4 25 | 17.4% | 13.8% | ||
| Q3 25 | 9.2% | 11.1% | ||
| Q2 25 | 5.7% | 12.3% | ||
| Q1 25 | 7.7% | 11.5% | ||
| Q4 24 | -2.2% | 10.3% | ||
| Q3 24 | 14.1% | 11.0% | ||
| Q2 24 | 22.3% | 13.6% |
净利率DOCMMSI
| Q1 26 | — | 10.7% | ||
| Q4 25 | 73.2% | 9.6% | ||
| Q3 25 | -16.6% | 7.2% | ||
| Q2 25 | 4.6% | 8.5% | ||
| Q1 25 | 6.1% | 8.5% | ||
| Q4 24 | 0.7% | 7.9% | ||
| Q3 24 | 12.3% | 8.4% | ||
| Q2 24 | 21.0% | 10.6% |
每股收益（稀释后）DOCMMSI
| Q1 26 | — | $0.68 | ||
| Q4 25 | $0.16 | $0.64 | ||
| Q3 25 | $-0.17 | $0.46 | ||
| Q2 25 | $0.05 | $0.54 | ||
| Q1 25 | $0.06 | $0.49 | ||
| Q4 24 | $0.02 | $0.46 | ||
| Q3 24 | $0.12 | $0.48 | ||
| Q2 24 | $0.21 | $0.61 |
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 | $488.1M |
| 总债务越低越好 | $9.8B | $735.2M |
| 股东权益账面价值 | $7.5B | $1.6B |
| 总资产 | $20.3B | $2.7B |
| 负债/权益比越低杠杆越低 | 1.31× | 0.45× |
8季度趋势，按日历期对齐
现金及短期投资DOCMMSI
| Q1 26 | — | $488.1M | ||
| Q4 25 | $467.5M | $446.4M | ||
| Q3 25 | $91.0M | $392.5M | ||
| Q2 25 | $89.4M | $341.8M | ||
| Q1 25 | $70.6M | $395.5M | ||
| Q4 24 | $119.8M | $376.7M | ||
| Q3 24 | $180.4M | $523.1M | ||
| Q2 24 | $106.9M | $636.7M |
总债务DOCMMSI
| Q1 26 | — | $735.2M | ||
| Q4 25 | $9.8B | $734.0M | ||
| Q3 25 | $9.1B | $732.9M | ||
| Q2 25 | $9.0B | $731.8M | ||
| Q1 25 | $8.9B | $730.7M | ||
| Q4 24 | $8.7B | $729.6M | ||
| Q3 24 | $8.6B | $750.5M | ||
| Q2 24 | $8.6B | $801.3M |
股东权益DOCMMSI
| Q1 26 | — | $1.6B | ||
| Q4 25 | $7.5B | $1.6B | ||
| Q3 25 | $7.6B | $1.5B | ||
| Q2 25 | $7.9B | $1.5B | ||
| Q1 25 | $8.2B | $1.4B | ||
| Q4 24 | $8.4B | $1.4B | ||
| Q3 24 | $8.6B | $1.3B | ||
| Q2 24 | $8.8B | $1.3B |
总资产DOCMMSI
| Q1 26 | — | $2.7B | ||
| Q4 25 | $20.3B | $2.7B | ||
| Q3 25 | $19.6B | $2.6B | ||
| Q2 25 | $19.8B | $2.6B | ||
| Q1 25 | $19.8B | $2.5B | ||
| Q4 24 | $19.9B | $2.4B | ||
| Q3 24 | $20.0B | $2.4B | ||
| Q2 24 | $20.2B | $2.4B |
负债/权益比DOCMMSI
| Q1 26 | — | 0.45× | ||
| Q4 25 | 1.31× | 0.46× | ||
| Q3 25 | 1.20× | 0.48× | ||
| Q2 25 | 1.14× | 0.49× | ||
| Q1 25 | 1.08× | 0.51× | ||
| Q4 24 | 1.04× | 0.53× | ||
| Q3 24 | 1.00× | 0.57× | ||
| Q2 24 | 0.98× | 0.62× |
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 | $24.7M |
| 自由现金流率自由现金流/营收 | 49.6% | 6.5% |
| 资本支出强度资本支出/营收 | 124.4% | 4.2% |
| 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 | — | $220.8M |
8季度趋势，按日历期对齐
经营现金流DOCMMSI
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $98.5M | ||
| Q3 25 | $315.0M | $75.0M | ||
| Q2 25 | $363.5M | $83.3M | ||
| Q1 25 | $279.4M | $40.6M | ||
| Q4 24 | $1.1B | $68.7M | ||
| Q3 24 | $318.2M | $47.3M | ||
| Q2 24 | $316.2M | $68.5M |
自由现金流DOCMMSI
| Q1 26 | — | $24.7M | ||
| Q4 25 | $357.0M | $74.0M | ||
| Q3 25 | — | $52.5M | ||
| Q2 25 | — | $69.6M | ||
| Q1 25 | — | $19.5M | ||
| Q4 24 | $333.7M | $65.3M | ||
| Q3 24 | — | $38.0M | ||
| Q2 24 | — | $57.9M |
自由现金流率DOCMMSI
| Q1 26 | — | 6.5% | ||
| Q4 25 | 49.6% | 18.8% | ||
| Q3 25 | — | 13.7% | ||
| Q2 25 | — | 18.2% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | 47.8% | 18.4% | ||
| Q3 24 | — | 11.2% | ||
| Q2 24 | — | 17.1% |
资本支出强度DOCMMSI
| Q1 26 | — | 4.2% | ||
| Q4 25 | 124.4% | 6.2% | ||
| Q3 25 | — | 5.8% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | 105.6% | 1.0% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 3.1% |
现金转化率DOCMMSI
| Q1 26 | — | — | ||
| Q4 25 | 10.99× | 2.59× | ||
| Q3 25 | — | 2.70× | ||
| Q2 25 | 11.48× | 2.56× | ||
| Q1 25 | 6.52× | 1.35× | ||
| Q4 24 | 235.43× | 2.46× | ||
| Q3 24 | 3.71× | 1.66× | ||
| Q2 24 | 2.17× | 1.92× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
