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Healthpeak Properties（DOC）与Opendoor Technologies Inc.（OPEN）财务数据对比。点击上方公司名可切换其他公司
Opendoor Technologies Inc.的季度营收约是Healthpeak Properties的1.0倍（$736.0M vs $719.4M），Healthpeak Properties净利率更高（73.2% vs -148.9%，领先222.1%），Healthpeak Properties同比增速更快（3.1% vs -32.1%），Healthpeak Properties自由现金流更多（$357.0M vs $67.0M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs -21.1%）
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。
Opendoor Technologies Inc.是一家主营住宅房地产买卖的线上企业，总部位于旧金山。平台可通过线上流程向房主提供房屋即时现金报价，收购房产后进行修缮再重新挂牌出售，同时还提供基于移动端应用的购房服务及配套融资方案，截至2021年11月业务覆盖美国44个区域市场。
DOC vs OPEN — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $736.0M |
| 净利润 | $114.0M | $-1.1B |
| 毛利率 | — | 7.7% |
| 营业利润率 | 17.4% | -20.4% |
| 净利率 | 73.2% | -148.9% |
| 营收同比 | 3.1% | -32.1% |
| 净利润同比 | 2406.4% | -869.9% |
| 每股收益（稀释后） | $0.16 | $-1.42 |
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
| Q4 25 | $719.4M | $736.0M | ||
| Q3 25 | $705.9M | $915.0M | ||
| Q2 25 | $694.3M | $1.6B | ||
| Q1 25 | $702.9M | $1.2B | ||
| Q4 24 | $698.0M | $1.1B | ||
| Q3 24 | $700.4M | $1.4B | ||
| Q2 24 | $695.5M | $1.5B | ||
| Q1 24 | $606.6M | $1.2B |
| Q4 25 | $114.0M | $-1.1B | ||
| Q3 25 | $-117.1M | $-90.0M | ||
| Q2 25 | $31.7M | $-29.0M | ||
| Q1 25 | $42.8M | $-85.0M | ||
| Q4 24 | $4.5M | $-113.0M | ||
| Q3 24 | $85.9M | $-78.0M | ||
| Q2 24 | $146.0M | $-92.0M | ||
| Q1 24 | $6.7M | $-109.0M |
| Q4 25 | — | 7.7% | ||
| Q3 25 | 58.6% | 7.2% | ||
| Q2 25 | 60.2% | 8.2% | ||
| Q1 25 | 61.1% | 8.6% | ||
| Q4 24 | 60.3% | 7.8% | ||
| Q3 24 | 60.0% | 7.6% | ||
| Q2 24 | 60.6% | 8.5% | ||
| Q1 24 | 59.8% | 9.7% |
| Q4 25 | 17.4% | -20.4% | ||
| Q3 25 | 9.2% | -7.4% | ||
| Q2 25 | 5.7% | -0.8% | ||
| Q1 25 | 7.7% | -4.9% | ||
| Q4 24 | -2.2% | -8.7% | ||
| Q3 24 | 14.1% | -4.9% | ||
| Q2 24 | 22.3% | -4.8% | ||
| Q1 24 | 3.7% | -7.4% |
| Q4 25 | 73.2% | -148.9% | ||
| Q3 25 | -16.6% | -9.8% | ||
| Q2 25 | 4.6% | -1.9% | ||
| Q1 25 | 6.1% | -7.4% | ||
| Q4 24 | 0.7% | -10.4% | ||
| Q3 24 | 12.3% | -5.7% | ||
| Q2 24 | 21.0% | -6.1% | ||
| Q1 24 | 1.1% | -9.2% |
| Q4 25 | $0.16 | $-1.42 | ||
| Q3 25 | $-0.17 | $-0.12 | ||
| Q2 25 | $0.05 | $-0.04 | ||
| Q1 25 | $0.06 | $-0.12 | ||
| Q4 24 | $0.02 | $-0.16 | ||
| Q3 24 | $0.12 | $-0.11 | ||
| Q2 24 | $0.21 | $-0.13 | ||
| Q1 24 | $0.01 | $-0.16 |
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 | $962.0M |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $1.0B |
| 总资产 | $20.3B | $2.4B |
| 负债/权益比越低杠杆越低 | 1.31× | — |
8季度趋势，按日历期对齐
| Q4 25 | $467.5M | $962.0M | ||
| Q3 25 | $91.0M | $962.0M | ||
| Q2 25 | $89.4M | $789.0M | ||
| Q1 25 | $70.6M | $559.0M | ||
| Q4 24 | $119.8M | $679.0M | ||
| Q3 24 | $180.4M | $837.0M | ||
| Q2 24 | $106.9M | $809.0M | ||
| Q1 24 | $101.8M | $990.0M |
| 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 | — |
| Q4 25 | $7.5B | $1.0B | ||
| Q3 25 | $7.6B | $811.0M | ||
| Q2 25 | $7.9B | $631.0M | ||
| Q1 25 | $8.2B | $645.0M | ||
| Q4 24 | $8.4B | $713.0M | ||
| Q3 24 | $8.6B | $801.0M | ||
| Q2 24 | $8.8B | $845.0M | ||
| Q1 24 | $8.9B | $899.0M |
| Q4 25 | $20.3B | $2.4B | ||
| Q3 25 | $19.6B | $2.7B | ||
| Q2 25 | $19.8B | $2.9B | ||
| Q1 25 | $19.8B | $3.3B | ||
| Q4 24 | $19.9B | $3.1B | ||
| Q3 24 | $20.0B | $3.4B | ||
| Q2 24 | $20.2B | $3.4B | ||
| Q1 24 | $20.5B | $3.4B |
| 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 | $70.0M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $67.0M |
| 自由现金流率自由现金流/营收 | 49.6% | 9.1% |
| 资本支出强度资本支出/营收 | 124.4% | 0.4% |
| 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 | — | $1.0B |
8季度趋势，按日历期对齐
| Q4 25 | $1.3B | $70.0M | ||
| Q3 25 | $315.0M | $435.0M | ||
| Q2 25 | $363.5M | $823.0M | ||
| Q1 25 | $279.4M | $-279.0M | ||
| Q4 24 | $1.1B | $-80.0M | ||
| Q3 24 | $318.2M | $62.0M | ||
| Q2 24 | $316.2M | $-399.0M | ||
| Q1 24 | $152.6M | $-178.0M |
| Q4 25 | $357.0M | $67.0M | ||
| Q3 25 | — | $432.0M | ||
| Q2 25 | — | $821.0M | ||
| Q1 25 | — | $-283.0M | ||
| Q4 24 | $333.7M | $-83.0M | ||
| Q3 24 | — | $56.0M | ||
| Q2 24 | — | $-407.0M | ||
| Q1 24 | — | $-186.0M |
| Q4 25 | 49.6% | 9.1% | ||
| Q3 25 | — | 47.2% | ||
| Q2 25 | — | 52.4% | ||
| Q1 25 | — | -24.5% | ||
| Q4 24 | 47.8% | -7.7% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | — | -26.9% | ||
| Q1 24 | — | -15.7% |
| Q4 25 | 124.4% | 0.4% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | 105.6% | 0.3% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.7% |
| 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
