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Healthpeak Properties（DOC）与Cloudflare, Inc.（NET）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Cloudflare, Inc.的1.2倍（$719.4M vs $614.5M），Healthpeak Properties净利率更高（73.2% vs -2.0%，领先75.1%），Cloudflare, Inc.同比增速更快（33.6% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 8.9%）
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。
Cloudflare是总部位于美国加利福尼亚州旧金山的科技企业，提供内容分发网络（CDN）、云网络安全、DDoS防护等多元互联网服务，同时是ICANN认证的域名注册商。其服务作为网站访客与客户托管服务商之间的反向代理，可有效提升访问性能，抵御恶意流量。
DOC vs NET — 直观对比
营收规模更大
DOC
是对方的1.2倍
$614.5M
营收增速更快
NET
高出30.5%
3.1%
净利率更高
DOC
高出75.1%
-2.0%
自由现金流更多
DOC
多$251.8M
$105.2M
两年增速更快
NET
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $614.5M |
| 净利润 | $114.0M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 17.4% | -8.0% |
| 净利率 | 73.2% | -2.0% |
| 营收同比 | 3.1% | 33.6% |
| 净利润同比 | 2406.4% | 6.0% |
| 每股收益（稀释后） | $0.16 | $-0.03 |
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DOCNET
| Q4 25 | $719.4M | $614.5M | ||
| Q3 25 | $705.9M | $562.0M | ||
| Q2 25 | $694.3M | $512.3M | ||
| Q1 25 | $702.9M | $479.1M | ||
| Q4 24 | $698.0M | $459.9M | ||
| Q3 24 | $700.4M | $430.1M | ||
| Q2 24 | $695.5M | $401.0M | ||
| Q1 24 | $606.6M | $378.6M |
净利润DOCNET
| Q4 25 | $114.0M | $-12.1M | ||
| Q3 25 | $-117.1M | $-1.3M | ||
| Q2 25 | $31.7M | $-50.4M | ||
| Q1 25 | $42.8M | $-38.5M | ||
| Q4 24 | $4.5M | $-12.8M | ||
| Q3 24 | $85.9M | $-15.3M | ||
| Q2 24 | $146.0M | $-15.1M | ||
| Q1 24 | $6.7M | $-35.5M |
毛利率DOCNET
| Q4 25 | — | 73.6% | ||
| Q3 25 | 58.6% | 74.0% | ||
| Q2 25 | 60.2% | 74.9% | ||
| Q1 25 | 61.1% | 75.9% | ||
| Q4 24 | 60.3% | 76.4% | ||
| Q3 24 | 60.0% | 77.7% | ||
| Q2 24 | 60.6% | 77.8% | ||
| Q1 24 | 59.8% | 77.5% |
营业利润率DOCNET
| Q4 25 | 17.4% | -8.0% | ||
| Q3 25 | 9.2% | -6.7% | ||
| Q2 25 | 5.7% | -13.1% | ||
| Q1 25 | 7.7% | -11.1% | ||
| Q4 24 | -2.2% | -7.5% | ||
| Q3 24 | 14.1% | -7.2% | ||
| Q2 24 | 22.3% | -8.7% | ||
| Q1 24 | 3.7% | -14.4% |
净利率DOCNET
| Q4 25 | 73.2% | -2.0% | ||
| Q3 25 | -16.6% | -0.2% | ||
| Q2 25 | 4.6% | -9.8% | ||
| Q1 25 | 6.1% | -8.0% | ||
| Q4 24 | 0.7% | -2.8% | ||
| Q3 24 | 12.3% | -3.6% | ||
| Q2 24 | 21.0% | -3.8% | ||
| Q1 24 | 1.1% | -9.4% |
每股收益（稀释后）DOCNET
| Q4 25 | $0.16 | $-0.03 | ||
| Q3 25 | $-0.17 | $0.00 | ||
| Q2 25 | $0.05 | $-0.15 | ||
| Q1 25 | $0.06 | $-0.11 | ||
| Q4 24 | $0.02 | $-0.05 | ||
| Q3 24 | $0.12 | $-0.04 | ||
| Q2 24 | $0.21 | $-0.04 | ||
| Q1 24 | $0.01 | $-0.10 |
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 | $943.5M |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $1.5B |
| 总资产 | $20.3B | $6.0B |
| 负债/权益比越低杠杆越低 | 1.31× | — |
8季度趋势，按日历期对齐
现金及短期投资DOCNET
| Q4 25 | $467.5M | $943.5M | ||
| Q3 25 | $91.0M | $1.1B | ||
| Q2 25 | $89.4M | $1.5B | ||
| Q1 25 | $70.6M | $204.5M | ||
| Q4 24 | $119.8M | $147.7M | ||
| Q3 24 | $180.4M | $182.9M | ||
| Q2 24 | $106.9M | $157.0M | ||
| Q1 24 | $101.8M | $254.4M |
总债务DOCNET
| 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 | — | ||
| Q1 24 | $8.8B | — |
股东权益DOCNET
| Q4 25 | $7.5B | $1.5B | ||
| Q3 25 | $7.6B | $1.3B | ||
| Q2 25 | $7.9B | $1.2B | ||
| Q1 25 | $8.2B | $1.4B | ||
| Q4 24 | $8.4B | $1.0B | ||
| Q3 24 | $8.6B | $973.1M | ||
| Q2 24 | $8.8B | $881.5M | ||
| Q1 24 | $8.9B | $797.2M |
总资产DOCNET
| Q4 25 | $20.3B | $6.0B | ||
| Q3 25 | $19.6B | $5.8B | ||
| Q2 25 | $19.8B | $5.6B | ||
| Q1 25 | $19.8B | $3.7B | ||
| Q4 24 | $19.9B | $3.3B | ||
| Q3 24 | $20.0B | $3.1B | ||
| Q2 24 | $20.2B | $2.9B | ||
| Q1 24 | $20.5B | $2.8B |
负债/权益比DOCNET
| 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× | — | ||
| Q1 24 | 0.99× | — |
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 | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $105.2M |
| 自由现金流率自由现金流/营收 | 49.6% | 17.1% |
| 资本支出强度资本支出/营收 | 124.4% | 13.9% |
| 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 | — | $287.5M |
8季度趋势，按日历期对齐
经营现金流DOCNET
| Q4 25 | $1.3B | $190.4M | ||
| Q3 25 | $315.0M | $167.1M | ||
| Q2 25 | $363.5M | $99.8M | ||
| Q1 25 | $279.4M | $145.8M | ||
| Q4 24 | $1.1B | $127.3M | ||
| Q3 24 | $318.2M | $104.7M | ||
| Q2 24 | $316.2M | $74.8M | ||
| Q1 24 | $152.6M | $73.6M |
自由现金流DOCNET
| Q4 25 | $357.0M | $105.2M | ||
| Q3 25 | — | $82.5M | ||
| Q2 25 | — | $39.9M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | $333.7M | $54.2M | ||
| Q3 24 | — | $54.5M | ||
| Q2 24 | — | $45.2M | ||
| Q1 24 | — | $41.5M |
自由现金流率DOCNET
| Q4 25 | 49.6% | 17.1% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | 47.8% | 11.8% | ||
| Q3 24 | — | 12.7% | ||
| Q2 24 | — | 11.3% | ||
| Q1 24 | — | 11.0% |
资本支出强度DOCNET
| Q4 25 | 124.4% | 13.9% | ||
| Q3 25 | — | 15.1% | ||
| Q2 25 | — | 11.7% | ||
| Q1 25 | — | 17.9% | ||
| Q4 24 | 105.6% | 15.9% | ||
| Q3 24 | — | 11.7% | ||
| Q2 24 | — | 7.4% | ||
| Q1 24 | — | 8.5% |
现金转化率DOCNET
| Q4 25 | 10.99× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 11.48× | — | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | 235.43× | — | ||
| Q3 24 | 3.71× | — | ||
| Q2 24 | 2.17× | — | ||
| Q1 24 | 22.85× | — |
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
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
