vs
Healthpeak Properties（DOC）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是Healthpeak Properties的1.7倍（$1.2B vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 9.1%，领先64.1%），利氏兄弟拍卖行同比增速更快（5.4% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $186.5M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs 6.3%）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
DOC vs RBA — 直观对比
营收规模更大
RBA
是对方的1.7倍
$719.4M
营收增速更快
RBA
高出2.3%
3.1%
净利率更高
DOC
高出64.1%
9.1%
自由现金流更多
DOC
多$170.5M
$186.5M
两年增速更快
DOC
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $1.2B |
| 净利润 | $114.0M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 17.4% | 14.7% |
| 净利率 | 73.2% | 9.1% |
| 营收同比 | 3.1% | 5.4% |
| 净利润同比 | 2406.4% | -7.4% |
| 每股收益（稀释后） | $0.16 | $0.53 |
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DOCRBA
| Q4 25 | $719.4M | $1.2B | ||
| Q3 25 | $705.9M | $1.1B | ||
| Q2 25 | $694.3M | $1.2B | ||
| Q1 25 | $702.9M | $1.1B | ||
| Q4 24 | $698.0M | $1.1B | ||
| Q3 24 | $700.4M | $981.8M | ||
| Q2 24 | $695.5M | $1.1B | ||
| Q1 24 | $606.6M | $1.1B |
净利润DOCRBA
| Q4 25 | $114.0M | $109.7M | ||
| Q3 25 | $-117.1M | $95.5M | ||
| Q2 25 | $31.7M | $109.8M | ||
| Q1 25 | $42.8M | $113.4M | ||
| Q4 24 | $4.5M | $118.5M | ||
| Q3 24 | $85.9M | $76.1M | ||
| Q2 24 | $146.0M | $111.1M | ||
| Q1 24 | $6.7M | $107.4M |
毛利率DOCRBA
| Q4 25 | — | — | ||
| Q3 25 | 58.6% | — | ||
| Q2 25 | 60.2% | — | ||
| Q1 25 | 61.1% | — | ||
| Q4 24 | 60.3% | — | ||
| Q3 24 | 60.0% | — | ||
| Q2 24 | 60.6% | — | ||
| Q1 24 | 59.8% | — |
营业利润率DOCRBA
| Q4 25 | 17.4% | 14.7% | ||
| Q3 25 | 9.2% | 14.5% | ||
| Q2 25 | 5.7% | 15.9% | ||
| Q1 25 | 7.7% | 17.1% | ||
| Q4 24 | -2.2% | 18.1% | ||
| Q3 24 | 14.1% | 15.6% | ||
| Q2 24 | 22.3% | 18.4% | ||
| Q1 24 | 3.7% | 18.7% |
净利率DOCRBA
| Q4 25 | 73.2% | 9.1% | ||
| Q3 25 | -16.6% | 8.7% | ||
| Q2 25 | 4.6% | 9.3% | ||
| Q1 25 | 6.1% | 10.2% | ||
| Q4 24 | 0.7% | 10.4% | ||
| Q3 24 | 12.3% | 7.8% | ||
| Q2 24 | 21.0% | 10.1% | ||
| Q1 24 | 1.1% | 10.1% |
每股收益（稀释后）DOCRBA
| Q4 25 | $0.16 | $0.53 | ||
| Q3 25 | $-0.17 | $0.43 | ||
| Q2 25 | $0.05 | $0.53 | ||
| Q1 25 | $0.06 | $0.55 | ||
| Q4 24 | $0.02 | $0.58 | ||
| Q3 24 | $0.12 | $0.36 | ||
| Q2 24 | $0.21 | $0.54 | ||
| Q1 24 | $0.01 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | $9.8B | $2.3B |
| 股东权益账面价值 | $7.5B | $5.6B |
| 总资产 | $20.3B | $12.1B |
| 负债/权益比越低杠杆越低 | 1.31× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资DOCRBA
| Q4 25 | $467.5M | $531.5M | ||
| Q3 25 | $91.0M | $674.7M | ||
| Q2 25 | $89.4M | $710.2M | ||
| Q1 25 | $70.6M | $578.1M | ||
| Q4 24 | $119.8M | $533.9M | ||
| Q3 24 | $180.4M | $650.7M | ||
| Q2 24 | $106.9M | $599.5M | ||
| Q1 24 | $101.8M | $462.8M |
总债务DOCRBA
| Q4 25 | $9.8B | $2.3B | ||
| Q3 25 | $9.1B | $2.6B | ||
| Q2 25 | $9.0B | $2.6B | ||
| Q1 25 | $8.9B | $2.6B | ||
| Q4 24 | $8.7B | $2.6B | ||
| Q3 24 | $8.6B | $2.7B | ||
| Q2 24 | $8.6B | $2.8B | ||
| Q1 24 | $8.8B | $2.9B |
股东权益DOCRBA
| Q4 25 | $7.5B | $5.6B | ||
| Q3 25 | $7.6B | $5.5B | ||
| Q2 25 | $7.9B | $5.5B | ||
| Q1 25 | $8.2B | $5.3B | ||
| Q4 24 | $8.4B | $5.2B | ||
| Q3 24 | $8.6B | $5.2B | ||
| Q2 24 | $8.8B | $5.2B | ||
| Q1 24 | $8.9B | $5.1B |
总资产DOCRBA
| Q4 25 | $20.3B | $12.1B | ||
| Q3 25 | $19.6B | $12.2B | ||
| Q2 25 | $19.8B | $12.2B | ||
| Q1 25 | $19.8B | $11.9B | ||
| Q4 24 | $19.9B | $11.8B | ||
| Q3 24 | $20.0B | $11.9B | ||
| Q2 24 | $20.2B | $12.1B | ||
| Q1 24 | $20.5B | $12.0B |
负债/权益比DOCRBA
| Q4 25 | 1.31× | 0.42× | ||
| Q3 25 | 1.20× | 0.47× | ||
| Q2 25 | 1.14× | 0.47× | ||
| Q1 25 | 1.08× | 0.50× | ||
| Q4 24 | 1.04× | 0.50× | ||
| Q3 24 | 1.00× | 0.52× | ||
| Q2 24 | 0.98× | 0.55× | ||
| Q1 24 | 0.99× | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $186.5M |
| 自由现金流率自由现金流/营收 | 49.6% | 15.5% |
| 资本支出强度资本支出/营收 | 124.4% | 5.7% |
| 现金转化率经营现金流/净利润 | 10.99× | 2.33× |
| 过去12个月自由现金流最近4个季度 | — | $719.2M |
8季度趋势，按日历期对齐
经营现金流DOCRBA
| Q4 25 | $1.3B | $255.2M | ||
| Q3 25 | $315.0M | $239.7M | ||
| Q2 25 | $363.5M | $326.5M | ||
| Q1 25 | $279.4M | $156.8M | ||
| Q4 24 | $1.1B | $184.5M | ||
| Q3 24 | $318.2M | $285.4M | ||
| Q2 24 | $316.2M | $337.3M | ||
| Q1 24 | $152.6M | $124.8M |
自由现金流DOCRBA
| Q4 25 | $357.0M | $186.5M | ||
| Q3 25 | — | $188.5M | ||
| Q2 25 | — | $241.7M | ||
| Q1 25 | — | $102.5M | ||
| Q4 24 | $333.7M | $127.9M | ||
| Q3 24 | — | $248.5M | ||
| Q2 24 | — | $308.6M | ||
| Q1 24 | — | $79.6M |
自由现金流率DOCRBA
| Q4 25 | 49.6% | 15.5% | ||
| Q3 25 | — | 17.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | 47.8% | 11.2% | ||
| Q3 24 | — | 25.3% | ||
| Q2 24 | — | 28.2% | ||
| Q1 24 | — | 7.5% |
资本支出强度DOCRBA
| Q4 25 | 124.4% | 5.7% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | 105.6% | 5.0% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | — | 4.2% |
现金转化率DOCRBA
| Q4 25 | 10.99× | 2.33× | ||
| Q3 25 | — | 2.51× | ||
| Q2 25 | 11.48× | 2.97× | ||
| Q1 25 | 6.52× | 1.38× | ||
| Q4 24 | 235.43× | 1.56× | ||
| Q3 24 | 3.71× | 3.75× | ||
| Q2 24 | 2.17× | 3.04× | ||
| Q1 24 | 22.85× | 1.16× |
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
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
