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Healthpeak Properties（DOC）与NGL Energy Partners LP（NGL）财务数据对比。点击上方公司名可切换其他公司
NGL Energy Partners LP的季度营收约是Healthpeak Properties的1.3倍（$909.8M vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 5.2%，领先68.0%），Healthpeak Properties同比增速更快（3.1% vs -41.3%），Healthpeak Properties自由现金流更多（$357.0M vs $45.7M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs -6.4%）
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。
NGL Energy Partners LP是一家总部位于美国的中游能源服务企业，主营原油、液化天然气、可再生燃料的运输、存储及物流服务，同时为上游能源生产商提供水资源管理解决方案，业务主要覆盖北美市场。
DOC vs NGL — 直观对比
营收规模更大
NGL
是对方的1.3倍
$719.4M
营收增速更快
DOC
高出44.3%
-41.3%
净利率更高
DOC
高出68.0%
5.2%
自由现金流更多
DOC
多$311.3M
$45.7M
两年增速更快
DOC
近两年复合增速
-6.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $909.8M |
| 净利润 | $114.0M | $47.2M |
| 毛利率 | — | 29.0% |
| 营业利润率 | 17.4% | 12.1% |
| 净利率 | 73.2% | 5.2% |
| 营收同比 | 3.1% | -41.3% |
| 净利润同比 | 2406.4% | 249.3% |
| 每股收益（稀释后） | $0.16 | — |
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DOCNGL
| Q4 25 | $719.4M | $909.8M | ||
| Q3 25 | $705.9M | $674.7M | ||
| Q2 25 | $694.3M | $622.2M | ||
| Q1 25 | $702.9M | $971.1M | ||
| Q4 24 | $698.0M | $982.4M | ||
| Q3 24 | $700.4M | $756.5M | ||
| Q2 24 | $695.5M | $759.2M | ||
| Q1 24 | $606.6M | $1.0B |
净利润DOCNGL
| Q4 25 | $114.0M | $47.2M | ||
| Q3 25 | $-117.1M | $29.3M | ||
| Q2 25 | $31.7M | $68.9M | ||
| Q1 25 | $42.8M | $13.7M | ||
| Q4 24 | $4.5M | $13.5M | ||
| Q3 24 | $85.9M | $2.5M | ||
| Q2 24 | $146.0M | $9.7M | ||
| Q1 24 | $6.7M | $-236.8M |
毛利率DOCNGL
| Q4 25 | — | 29.0% | ||
| Q3 25 | 58.6% | 37.6% | ||
| Q2 25 | 60.2% | 38.5% | ||
| Q1 25 | 61.1% | 26.9% | ||
| Q4 24 | 60.3% | 25.1% | ||
| Q3 24 | 60.0% | 30.9% | ||
| Q2 24 | 60.6% | 29.0% | ||
| Q1 24 | 59.8% | 21.8% |
营业利润率DOCNGL
| Q4 25 | 17.4% | 12.1% | ||
| Q3 25 | 9.2% | 14.0% | ||
| Q2 25 | 5.7% | 15.7% | ||
| Q1 25 | 7.7% | 8.4% | ||
| Q4 24 | -2.2% | 8.6% | ||
| Q3 24 | 14.1% | 10.8% | ||
| Q2 24 | 22.3% | 10.8% | ||
| Q1 24 | 3.7% | -9.4% |
净利率DOCNGL
| Q4 25 | 73.2% | 5.2% | ||
| Q3 25 | -16.6% | 4.3% | ||
| Q2 25 | 4.6% | 11.1% | ||
| Q1 25 | 6.1% | 1.4% | ||
| Q4 24 | 0.7% | 1.4% | ||
| Q3 24 | 12.3% | 0.3% | ||
| Q2 24 | 21.0% | 1.3% | ||
| Q1 24 | 1.1% | -22.8% |
每股收益（稀释后）DOCNGL
| Q4 25 | $0.16 | — | ||
| Q3 25 | $-0.17 | — | ||
| Q2 25 | $0.05 | — | ||
| Q1 25 | $0.06 | — | ||
| Q4 24 | $0.02 | — | ||
| Q3 24 | $0.12 | — | ||
| Q2 24 | $0.21 | — | ||
| Q1 24 | $0.01 | — |
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 | $6.5M |
| 总债务越低越好 | $9.8B | $2.9B |
| 股东权益账面价值 | $7.5B | — |
| 总资产 | $20.3B | $4.4B |
| 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DOCNGL
| Q4 25 | $467.5M | $6.5M | ||
| Q3 25 | $91.0M | $8.7M | ||
| Q2 25 | $89.4M | $5.4M | ||
| Q1 25 | $70.6M | $13.5M | ||
| Q4 24 | $119.8M | $5.7M | ||
| Q3 24 | $180.4M | $4.5M | ||
| Q2 24 | $106.9M | $5.3M | ||
| Q1 24 | $101.8M | $38.9M |
总债务DOCNGL
| Q4 25 | $9.8B | $2.9B | ||
| Q3 25 | $9.1B | $2.9B | ||
| Q2 25 | $9.0B | $2.9B | ||
| Q1 25 | $8.9B | $3.0B | ||
| Q4 24 | $8.7B | $3.1B | ||
| Q3 24 | $8.6B | $3.1B | ||
| Q2 24 | $8.6B | $3.0B | ||
| Q1 24 | $8.8B | $2.9B |
股东权益DOCNGL
| Q4 25 | $7.5B | — | ||
| Q3 25 | $7.6B | — | ||
| Q2 25 | $7.9B | — | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $8.4B | — | ||
| Q3 24 | $8.6B | — | ||
| Q2 24 | $8.8B | — | ||
| Q1 24 | $8.9B | — |
总资产DOCNGL
| Q4 25 | $20.3B | $4.4B | ||
| Q3 25 | $19.6B | $4.3B | ||
| Q2 25 | $19.8B | $4.2B | ||
| Q1 25 | $19.8B | $4.6B | ||
| Q4 24 | $19.9B | $4.8B | ||
| Q3 24 | $20.0B | $4.9B | ||
| Q2 24 | $20.2B | $4.8B | ||
| Q1 24 | $20.5B | $5.0B |
负债/权益比DOCNGL
| 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 | $182.3M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $45.7M |
| 自由现金流率自由现金流/营收 | 49.6% | 5.0% |
| 资本支出强度资本支出/营收 | 124.4% | 15.0% |
| 现金转化率经营现金流/净利润 | 10.99× | 3.86× |
| 过去12个月自由现金流最近4个季度 | — | $126.7M |
8季度趋势，按日历期对齐
经营现金流DOCNGL
| Q4 25 | $1.3B | $182.3M | ||
| Q3 25 | $315.0M | $40.5M | ||
| Q2 25 | $363.5M | $33.2M | ||
| Q1 25 | $279.4M | $155.0M | ||
| Q4 24 | $1.1B | $153.8M | ||
| Q3 24 | $318.2M | $6.7M | ||
| Q2 24 | $316.2M | $-18.1M | ||
| Q1 24 | $152.6M | $152.2M |
自由现金流DOCNGL
| Q4 25 | $357.0M | $45.7M | ||
| Q3 25 | — | $9.5M | ||
| Q2 25 | — | $11.1M | ||
| Q1 25 | — | $60.4M | ||
| Q4 24 | $333.7M | $152.1M | ||
| Q3 24 | — | $-82.9M | ||
| Q2 24 | — | $-78.0M | ||
| Q1 24 | — | $119.8M |
自由现金流率DOCNGL
| Q4 25 | 49.6% | 5.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | 47.8% | 15.5% | ||
| Q3 24 | — | -11.0% | ||
| Q2 24 | — | -10.3% | ||
| Q1 24 | — | 11.5% |
资本支出强度DOCNGL
| Q4 25 | 124.4% | 15.0% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 9.7% | ||
| Q4 24 | 105.6% | 0.2% | ||
| Q3 24 | — | 11.8% | ||
| Q2 24 | — | 7.9% | ||
| Q1 24 | — | 3.1% |
现金转化率DOCNGL
| Q4 25 | 10.99× | 3.86× | ||
| Q3 25 | — | 1.38× | ||
| Q2 25 | 11.48× | 0.48× | ||
| Q1 25 | 6.52× | 11.29× | ||
| Q4 24 | 235.43× | 11.39× | ||
| Q3 24 | 3.71× | 2.74× | ||
| Q2 24 | 2.17× | -1.87× | ||
| 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
NGL
| Water Solutions Segment | $208.6M | 23% |
| Services | $193.3M | 21% |
| Butane | $192.5M | 21% |
| Service Fees | $182.8M | 20% |
| Public Utilities Inventory Propane | $93.9M | 10% |
| Crude Oil | $23.3M | 3% |
| Crude Oil Transportation And Other | $6.5M | 1% |
| Liquids Logistics Segment | $2.5M | 0% |
| Crude Oil Logistics Segment | $1.2M | 0% |
