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Healthpeak Properties（DOC）与必能宝（PBI）财务数据对比。点击上方公司名可切换其他公司
Healthpeak Properties的季度营收约是必能宝的1.5倍（$719.4M vs $477.6M），Healthpeak Properties净利率更高（73.2% vs 5.7%，领先67.5%），Healthpeak Properties同比增速更快（3.1% vs -7.5%），Healthpeak Properties自由现金流更多（$357.0M vs $201.4M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs -4.3%）
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。
必能宝（Pitney Bowes）是全球知名科技与物流服务商，提供电商配送、邮寄处理、订单履约及客户信息管理解决方案，服务零售、金融、医疗、政府等领域的各类大中小企业客户，助力企业优化物流配送与客户运营效率。
DOC vs PBI — 直观对比
营收规模更大
DOC
是对方的1.5倍
$477.6M
营收增速更快
DOC
高出10.5%
-7.5%
净利率更高
DOC
高出67.5%
5.7%
自由现金流更多
DOC
多$155.6M
$201.4M
两年增速更快
DOC
近两年复合增速
-4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $477.6M |
| 净利润 | $114.0M | $27.3M |
| 毛利率 | — | — |
| 营业利润率 | 17.4% | 8.0% |
| 净利率 | 73.2% | 5.7% |
| 营收同比 | 3.1% | -7.5% |
| 净利润同比 | 2406.4% | 173.1% |
| 每股收益（稀释后） | $0.16 | $0.18 |
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DOCPBI
| Q4 25 | $719.4M | $477.6M | ||
| Q3 25 | $705.9M | $459.7M | ||
| Q2 25 | $694.3M | $461.9M | ||
| Q1 25 | $702.9M | $493.4M | ||
| Q4 24 | $698.0M | $516.1M | ||
| Q3 24 | $700.4M | $499.5M | ||
| Q2 24 | $695.5M | $489.7M | ||
| Q1 24 | $606.6M | $521.3M |
净利润DOCPBI
| Q4 25 | $114.0M | $27.3M | ||
| Q3 25 | $-117.1M | $52.0M | ||
| Q2 25 | $31.7M | $30.0M | ||
| Q1 25 | $42.8M | $35.4M | ||
| Q4 24 | $4.5M | $-37.4M | ||
| Q3 24 | $85.9M | $-138.5M | ||
| Q2 24 | $146.0M | $-24.9M | ||
| Q1 24 | $6.7M | $-2.9M |
毛利率DOCPBI
| Q4 25 | — | — | ||
| Q3 25 | 58.6% | — | ||
| Q2 25 | 60.2% | — | ||
| Q1 25 | 61.1% | — | ||
| Q4 24 | 60.3% | 53.8% | ||
| Q3 24 | 60.0% | 52.4% | ||
| Q2 24 | 60.6% | 51.1% | ||
| Q1 24 | 59.8% | 52.3% |
营业利润率DOCPBI
| Q4 25 | 17.4% | 8.0% | ||
| Q3 25 | 9.2% | 14.8% | ||
| Q2 25 | 5.7% | 8.5% | ||
| Q1 25 | 7.7% | 9.5% | ||
| Q4 24 | -2.2% | -9.3% | ||
| Q3 24 | 14.1% | -8.8% | ||
| Q2 24 | 22.3% | -1.6% | ||
| Q1 24 | 3.7% | 9.1% |
净利率DOCPBI
| Q4 25 | 73.2% | 5.7% | ||
| Q3 25 | -16.6% | 11.3% | ||
| Q2 25 | 4.6% | 6.5% | ||
| Q1 25 | 6.1% | 7.2% | ||
| Q4 24 | 0.7% | -7.2% | ||
| Q3 24 | 12.3% | -27.7% | ||
| Q2 24 | 21.0% | -5.1% | ||
| Q1 24 | 1.1% | -0.6% |
每股收益（稀释后）DOCPBI
| Q4 25 | $0.16 | $0.18 | ||
| Q3 25 | $-0.17 | $0.30 | ||
| Q2 25 | $0.05 | $0.17 | ||
| Q1 25 | $0.06 | $0.19 | ||
| Q4 24 | $0.02 | $-0.21 | ||
| Q3 24 | $0.12 | $-0.75 | ||
| Q2 24 | $0.21 | $-0.14 | ||
| Q1 24 | $0.01 | $-0.02 |
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 | $297.1M |
| 总债务越低越好 | $9.8B | $2.0B |
| 股东权益账面价值 | $7.5B | $-802.4M |
| 总资产 | $20.3B | $3.2B |
| 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DOCPBI
| Q4 25 | $467.5M | $297.1M | ||
| Q3 25 | $91.0M | $336.0M | ||
| Q2 25 | $89.4M | $300.8M | ||
| Q1 25 | $70.6M | $340.0M | ||
| Q4 24 | $119.8M | $486.1M | ||
| Q3 24 | $180.4M | $575.5M | ||
| Q2 24 | $106.9M | $612.0M | ||
| Q1 24 | $101.8M | $538.0M |
总债务DOCPBI
| Q4 25 | $9.8B | $2.0B | ||
| Q3 25 | $9.1B | $2.1B | ||
| Q2 25 | $9.0B | $1.9B | ||
| Q1 25 | $8.9B | $1.9B | ||
| Q4 24 | $8.7B | $1.9B | ||
| Q3 24 | $8.6B | $2.1B | ||
| Q2 24 | $8.6B | $2.1B | ||
| Q1 24 | $8.8B | $2.1B |
股东权益DOCPBI
| Q4 25 | $7.5B | $-802.4M | ||
| Q3 25 | $7.6B | $-661.5M | ||
| Q2 25 | $7.9B | $-536.8M | ||
| Q1 25 | $8.2B | $-535.9M | ||
| Q4 24 | $8.4B | $-578.4M | ||
| Q3 24 | $8.6B | $-518.9M | ||
| Q2 24 | $8.8B | $-427.9M | ||
| Q1 24 | $8.9B | $-392.4M |
总资产DOCPBI
| Q4 25 | $20.3B | $3.2B | ||
| Q3 25 | $19.6B | $3.3B | ||
| Q2 25 | $19.8B | $3.2B | ||
| Q1 25 | $19.8B | $3.3B | ||
| Q4 24 | $19.9B | $3.4B | ||
| Q3 24 | $20.0B | $3.6B | ||
| Q2 24 | $20.2B | $4.1B | ||
| Q1 24 | $20.5B | $4.1B |
负债/权益比DOCPBI
| 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 | $221.7M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $201.4M |
| 自由现金流率自由现金流/营收 | 49.6% | 42.2% |
| 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× | 8.11× |
| 过去12个月自由现金流最近4个季度 | — | $317.0M |
8季度趋势，按日历期对齐
经营现金流DOCPBI
| Q4 25 | $1.3B | $221.7M | ||
| Q3 25 | $315.0M | $66.8M | ||
| Q2 25 | $363.5M | $111.4M | ||
| Q1 25 | $279.4M | $-16.7M | ||
| Q4 24 | $1.1B | $134.5M | ||
| Q3 24 | $318.2M | $14.7M | ||
| Q2 24 | $316.2M | $92.6M | ||
| Q1 24 | $152.6M | $-12.6M |
自由现金流DOCPBI
| Q4 25 | $357.0M | $201.4M | ||
| Q3 25 | — | $51.1M | ||
| Q2 25 | — | $98.0M | ||
| Q1 25 | — | $-33.6M | ||
| Q4 24 | $333.7M | $112.3M | ||
| Q3 24 | — | $-4.7M | ||
| Q2 24 | — | $76.1M | ||
| Q1 24 | — | $-26.9M |
自由现金流率DOCPBI
| Q4 25 | 49.6% | 42.2% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 21.2% | ||
| Q1 25 | — | -6.8% | ||
| Q4 24 | 47.8% | 21.8% | ||
| Q3 24 | — | -0.9% | ||
| Q2 24 | — | 15.5% | ||
| Q1 24 | — | -5.2% |
资本支出强度DOCPBI
| Q4 25 | 124.4% | 4.2% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | 105.6% | 4.3% | ||
| Q3 24 | — | 3.9% | ||
| Q2 24 | — | 3.4% | ||
| Q1 24 | — | 2.7% |
现金转化率DOCPBI
| Q4 25 | 10.99× | 8.11× | ||
| Q3 25 | — | 1.29× | ||
| Q2 25 | 11.48× | 3.72× | ||
| Q1 25 | 6.52× | -0.47× | ||
| 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
PBI
| Sales And Services | $218.4M | 46% |
| Presort Services | $159.7M | 33% |
| Financing And Other | $79.0M | 17% |
| Other | $20.5M | 4% |
