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Healthpeak Properties（DOC）与PTC Inc.（PTC）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PTC Inc.的1.0倍（$719.4M vs $685.8M），Healthpeak Properties净利率更高（73.2% vs 24.3%，领先48.9%），PTC Inc.同比增速更快（21.4% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $267.4M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs 6.6%）
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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
DOC vs PTC — 直观对比
营收规模更大
DOC
是对方的1.0倍
$685.8M
营收增速更快
PTC
高出18.3%
3.1%
净利率更高
DOC
高出48.9%
24.3%
自由现金流更多
DOC
多$89.6M
$267.4M
两年增速更快
DOC
近两年复合增速
6.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $685.8M |
| 净利润 | $114.0M | $166.5M |
| 毛利率 | — | 82.8% |
| 营业利润率 | 17.4% | 32.2% |
| 净利率 | 73.2% | 24.3% |
| 营收同比 | 3.1% | 21.4% |
| 净利润同比 | 2406.4% | 102.5% |
| 每股收益（稀释后） | $0.16 | $1.39 |
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DOCPTC
| Q4 25 | $719.4M | $685.8M | ||
| Q3 25 | $705.9M | $893.8M | ||
| Q2 25 | $694.3M | $643.9M | ||
| Q1 25 | $702.9M | $636.4M | ||
| Q4 24 | $698.0M | $565.1M | ||
| Q3 24 | $700.4M | $626.5M | ||
| Q2 24 | $695.5M | $518.6M | ||
| Q1 24 | $606.6M | $603.1M |
净利润DOCPTC
| Q4 25 | $114.0M | $166.5M | ||
| Q3 25 | $-117.1M | $347.8M | ||
| Q2 25 | $31.7M | $141.3M | ||
| Q1 25 | $42.8M | $162.6M | ||
| Q4 24 | $4.5M | $82.2M | ||
| Q3 24 | $85.9M | $126.5M | ||
| Q2 24 | $146.0M | $69.0M | ||
| Q1 24 | $6.7M | $114.4M |
毛利率DOCPTC
| Q4 25 | — | 82.8% | ||
| Q3 25 | 58.6% | 86.9% | ||
| Q2 25 | 60.2% | 82.9% | ||
| Q1 25 | 61.1% | 83.3% | ||
| Q4 24 | 60.3% | 80.2% | ||
| Q3 24 | 60.0% | 82.0% | ||
| Q2 24 | 60.6% | 78.4% | ||
| Q1 24 | 59.8% | 81.8% |
营业利润率DOCPTC
| Q4 25 | 17.4% | 32.2% | ||
| Q3 25 | 9.2% | 48.5% | ||
| Q2 25 | 5.7% | 32.6% | ||
| Q1 25 | 7.7% | 35.1% | ||
| Q4 24 | -2.2% | 20.4% | ||
| Q3 24 | 14.1% | 31.0% | ||
| Q2 24 | 22.3% | 18.5% | ||
| Q1 24 | 3.7% | 29.8% |
净利率DOCPTC
| Q4 25 | 73.2% | 24.3% | ||
| Q3 25 | -16.6% | 38.9% | ||
| Q2 25 | 4.6% | 21.9% | ||
| Q1 25 | 6.1% | 25.6% | ||
| Q4 24 | 0.7% | 14.6% | ||
| Q3 24 | 12.3% | 20.2% | ||
| Q2 24 | 21.0% | 13.3% | ||
| Q1 24 | 1.1% | 19.0% |
每股收益（稀释后）DOCPTC
| Q4 25 | $0.16 | $1.39 | ||
| Q3 25 | $-0.17 | $2.88 | ||
| Q2 25 | $0.05 | $1.17 | ||
| Q1 25 | $0.06 | $1.35 | ||
| Q4 24 | $0.02 | $0.68 | ||
| Q3 24 | $0.12 | $1.05 | ||
| Q2 24 | $0.21 | $0.57 | ||
| Q1 24 | $0.01 | $0.95 |
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 | $209.7M |
| 总债务越低越好 | $9.8B | $1.2B |
| 股东权益账面价值 | $7.5B | $3.8B |
| 总资产 | $20.3B | $6.4B |
| 负债/权益比越低杠杆越低 | 1.31× | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资DOCPTC
| Q4 25 | $467.5M | $209.7M | ||
| Q3 25 | $91.0M | $184.4M | ||
| Q2 25 | $89.4M | $199.3M | ||
| Q1 25 | $70.6M | $235.2M | ||
| Q4 24 | $119.8M | $196.3M | ||
| Q3 24 | $180.4M | $265.8M | ||
| Q2 24 | $106.9M | $247.7M | ||
| Q1 24 | $101.8M | $249.0M |
总债务DOCPTC
| Q4 25 | $9.8B | $1.2B | ||
| Q3 25 | $9.1B | $1.2B | ||
| Q2 25 | $9.0B | $1.2B | ||
| Q1 25 | $8.9B | $1.4B | ||
| Q4 24 | $8.7B | $1.0B | ||
| Q3 24 | $8.6B | $1.2B | ||
| Q2 24 | $8.6B | $1.3B | ||
| Q1 24 | $8.8B | $1.5B |
股东权益DOCPTC
| Q4 25 | $7.5B | $3.8B | ||
| Q3 25 | $7.6B | $3.8B | ||
| Q2 25 | $7.9B | $3.5B | ||
| Q1 25 | $8.2B | $3.4B | ||
| Q4 24 | $8.4B | $3.2B | ||
| Q3 24 | $8.6B | $3.2B | ||
| Q2 24 | $8.8B | $3.0B | ||
| Q1 24 | $8.9B | $2.9B |
总资产DOCPTC
| Q4 25 | $20.3B | $6.4B | ||
| Q3 25 | $19.6B | $6.6B | ||
| Q2 25 | $19.8B | $6.2B | ||
| Q1 25 | $19.8B | $6.2B | ||
| Q4 24 | $19.9B | $6.1B | ||
| Q3 24 | $20.0B | $6.4B | ||
| Q2 24 | $20.2B | $6.1B | ||
| Q1 24 | $20.5B | $6.2B |
负债/权益比DOCPTC
| Q4 25 | 1.31× | 0.31× | ||
| Q3 25 | 1.20× | 0.31× | ||
| Q2 25 | 1.14× | 0.34× | ||
| Q1 25 | 1.08× | 0.40× | ||
| Q4 24 | 1.04× | 0.32× | ||
| Q3 24 | 1.00× | 0.38× | ||
| Q2 24 | 0.98× | 0.43× | ||
| Q1 24 | 0.99× | 0.51× |
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 | $269.7M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $267.4M |
| 自由现金流率自由现金流/营收 | 49.6% | 39.0% |
| 资本支出强度资本支出/营收 | 124.4% | 0.3% |
| 现金转化率经营现金流/净利润 | 10.99× | 1.62× |
| 过去12个月自由现金流最近4个季度 | — | $888.4M |
8季度趋势，按日历期对齐
经营现金流DOCPTC
| Q4 25 | $1.3B | $269.7M | ||
| Q3 25 | $315.0M | $104.0M | ||
| Q2 25 | $363.5M | $243.9M | ||
| Q1 25 | $279.4M | $281.3M | ||
| Q4 24 | $1.1B | $238.4M | ||
| Q3 24 | $318.2M | $98.1M | ||
| Q2 24 | $316.2M | $213.8M | ||
| Q1 24 | $152.6M | $250.7M |
自由现金流DOCPTC
| Q4 25 | $357.0M | $267.4M | ||
| Q3 25 | — | $100.5M | ||
| Q2 25 | — | $242.0M | ||
| Q1 25 | — | $278.5M | ||
| Q4 24 | $333.7M | $235.7M | ||
| Q3 24 | — | $93.6M | ||
| Q2 24 | — | $212.2M | ||
| Q1 24 | — | $247.1M |
自由现金流率DOCPTC
| Q4 25 | 49.6% | 39.0% | ||
| Q3 25 | — | 11.2% | ||
| Q2 25 | — | 37.6% | ||
| Q1 25 | — | 43.8% | ||
| Q4 24 | 47.8% | 41.7% | ||
| Q3 24 | — | 14.9% | ||
| Q2 24 | — | 40.9% | ||
| Q1 24 | — | 41.0% |
资本支出强度DOCPTC
| Q4 25 | 124.4% | 0.3% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 105.6% | 0.5% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.6% |
现金转化率DOCPTC
| Q4 25 | 10.99× | 1.62× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | 11.48× | 1.73× | ||
| Q1 25 | 6.52× | 1.73× | ||
| Q4 24 | 235.43× | 2.90× | ||
| Q3 24 | 3.71× | 0.78× | ||
| Q2 24 | 2.17× | 3.10× | ||
| Q1 24 | 22.85× | 2.19× |
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
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
