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Healthpeak Properties（DOC）与Penumbra Inc（PEN）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Penumbra Inc的1.9倍（$719.4M vs $385.4M），Healthpeak Properties净利率更高（73.2% vs 12.3%，领先60.9%），Penumbra Inc同比增速更快（22.1% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $68.0M），过去两年Penumbra Inc的营收复合增速更高（17.6% 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。
Penumbra Inc是2004年由Arani Bose与Adam Elsesser联合创立的美国医疗器械企业，总部位于加利福尼亚州阿拉米达，核心业务为研发、生产中风、动脉瘤等血管疾病介入治疗所用的专业医疗设备，产品已在全球多个国家的临床诊疗场景中投入使用。
DOC vs PEN — 直观对比
营收规模更大
DOC
是对方的1.9倍
$385.4M
营收增速更快
PEN
高出19.1%
3.1%
净利率更高
DOC
高出60.9%
12.3%
自由现金流更多
DOC
多$289.0M
$68.0M
两年增速更快
PEN
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $385.4M |
| 净利润 | $114.0M | $47.3M |
| 毛利率 | — | 68.0% |
| 营业利润率 | 17.4% | 15.4% |
| 净利率 | 73.2% | 12.3% |
| 营收同比 | 3.1% | 22.1% |
| 净利润同比 | 2406.4% | 40.6% |
| 每股收益（稀释后） | $0.16 | $1.20 |
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DOCPEN
| Q4 25 | $719.4M | $385.4M | ||
| Q3 25 | $705.9M | $354.7M | ||
| Q2 25 | $694.3M | $339.5M | ||
| Q1 25 | $702.9M | $324.1M | ||
| Q4 24 | $698.0M | $315.5M | ||
| Q3 24 | $700.4M | $301.0M | ||
| Q2 24 | $695.5M | $299.4M | ||
| Q1 24 | $606.6M | $278.7M |
净利润DOCPEN
| Q4 25 | $114.0M | $47.3M | ||
| Q3 25 | $-117.1M | $45.9M | ||
| Q2 25 | $31.7M | $45.3M | ||
| Q1 25 | $42.8M | $39.2M | ||
| Q4 24 | $4.5M | $33.7M | ||
| Q3 24 | $85.9M | $29.5M | ||
| Q2 24 | $146.0M | $-60.2M | ||
| Q1 24 | $6.7M | $11.0M |
毛利率DOCPEN
| Q4 25 | — | 68.0% | ||
| Q3 25 | 58.6% | 67.8% | ||
| Q2 25 | 60.2% | 66.0% | ||
| Q1 25 | 61.1% | 66.6% | ||
| Q4 24 | 60.3% | 66.8% | ||
| Q3 24 | 60.0% | 66.5% | ||
| Q2 24 | 60.6% | 54.4% | ||
| Q1 24 | 59.8% | 65.0% |
营业利润率DOCPEN
| Q4 25 | 17.4% | 15.4% | ||
| Q3 25 | 9.2% | 13.8% | ||
| Q2 25 | 5.7% | 12.0% | ||
| Q1 25 | 7.7% | 12.4% | ||
| Q4 24 | -2.2% | 13.6% | ||
| Q3 24 | 14.1% | 11.7% | ||
| Q2 24 | 22.3% | -27.0% | ||
| Q1 24 | 3.7% | 4.3% |
净利率DOCPEN
| Q4 25 | 73.2% | 12.3% | ||
| Q3 25 | -16.6% | 12.9% | ||
| Q2 25 | 4.6% | 13.3% | ||
| Q1 25 | 6.1% | 12.1% | ||
| Q4 24 | 0.7% | 10.7% | ||
| Q3 24 | 12.3% | 9.8% | ||
| Q2 24 | 21.0% | -20.1% | ||
| Q1 24 | 1.1% | 3.9% |
每股收益（稀释后）DOCPEN
| Q4 25 | $0.16 | $1.20 | ||
| Q3 25 | $-0.17 | $1.17 | ||
| Q2 25 | $0.05 | $1.15 | ||
| Q1 25 | $0.06 | $1.00 | ||
| Q4 24 | $0.02 | $0.88 | ||
| Q3 24 | $0.12 | $0.75 | ||
| Q2 24 | $0.21 | $-1.55 | ||
| Q1 24 | $0.01 | $0.28 |
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 | $186.9M |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $1.4B |
| 总资产 | $20.3B | $1.8B |
| 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DOCPEN
| Q4 25 | $467.5M | $186.9M | ||
| Q3 25 | $91.0M | $321.0M | ||
| Q2 25 | $89.4M | $421.8M | ||
| Q1 25 | $70.6M | $376.1M | ||
| Q4 24 | $119.8M | $324.4M | ||
| Q3 24 | $180.4M | $280.5M | ||
| Q2 24 | $106.9M | $288.3M | ||
| Q1 24 | $101.8M | $223.1M |
总债务DOCPEN
| 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DOCPEN
| Q4 25 | $7.5B | $1.4B | ||
| Q3 25 | $7.6B | $1.4B | ||
| Q2 25 | $7.9B | $1.3B | ||
| Q1 25 | $8.2B | $1.2B | ||
| Q4 24 | $8.4B | $1.2B | ||
| Q3 24 | $8.6B | $1.1B | ||
| Q2 24 | $8.8B | $1.2B | ||
| Q1 24 | $8.9B | $1.2B |
总资产DOCPEN
| Q4 25 | $20.3B | $1.8B | ||
| Q3 25 | $19.6B | $1.7B | ||
| Q2 25 | $19.8B | $1.7B | ||
| Q1 25 | $19.8B | $1.6B | ||
| Q4 24 | $19.9B | $1.5B | ||
| Q3 24 | $20.0B | $1.5B | ||
| Q2 24 | $20.2B | $1.5B | ||
| Q1 24 | $20.5B | $1.6B |
负债/权益比DOCPEN
| 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 | $86.5M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $68.0M |
| 自由现金流率自由现金流/营收 | 49.6% | 17.7% |
| 资本支出强度资本支出/营收 | 124.4% | 4.8% |
| 现金转化率经营现金流/净利润 | 10.99× | 1.83× |
| 过去12个月自由现金流最近4个季度 | — | $174.9M |
8季度趋势，按日历期对齐
经营现金流DOCPEN
| Q4 25 | $1.3B | $86.5M | ||
| Q3 25 | $315.0M | $58.3M | ||
| Q2 25 | $363.5M | $44.9M | ||
| Q1 25 | $279.4M | $49.0M | ||
| Q4 24 | $1.1B | $51.1M | ||
| Q3 24 | $318.2M | $56.5M | ||
| Q2 24 | $316.2M | $22.6M | ||
| Q1 24 | $152.6M | $38.3M |
自由现金流DOCPEN
| Q4 25 | $357.0M | $68.0M | ||
| Q3 25 | — | $42.0M | ||
| Q2 25 | — | $29.4M | ||
| Q1 25 | — | $35.5M | ||
| Q4 24 | $333.7M | $45.7M | ||
| Q3 24 | — | $51.0M | ||
| Q2 24 | — | $18.1M | ||
| Q1 24 | — | $32.5M |
自由现金流率DOCPEN
| Q4 25 | 49.6% | 17.7% | ||
| Q3 25 | — | 11.8% | ||
| Q2 25 | — | 8.7% | ||
| Q1 25 | — | 11.0% | ||
| Q4 24 | 47.8% | 14.5% | ||
| Q3 24 | — | 16.9% | ||
| Q2 24 | — | 6.0% | ||
| Q1 24 | — | 11.7% |
资本支出强度DOCPEN
| Q4 25 | 124.4% | 4.8% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | 105.6% | 1.7% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 2.1% |
现金转化率DOCPEN
| Q4 25 | 10.99× | 1.83× | ||
| Q3 25 | — | 1.27× | ||
| Q2 25 | 11.48× | 0.99× | ||
| Q1 25 | 6.52× | 1.25× | ||
| Q4 24 | 235.43× | 1.52× | ||
| Q3 24 | 3.71× | 1.91× | ||
| Q2 24 | 2.17× | — | ||
| Q1 24 | 22.85× | 3.48× |
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
PEN
| Thrombectomy | $254.7M | 66% |
| Other | $130.7M | 34% |
