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Healthpeak Properties（DOC）与RH（RH）财务数据对比。点击上方公司名可切换其他公司
RH的季度营收约是Healthpeak Properties的1.2倍（$883.8M vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 4.1%，领先69.1%），RH同比增速更快（8.9% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $83.0M），过去两年RH的营收复合增速更高（9.4% 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。
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
DOC vs RH — 直观对比
营收规模更大
RH
是对方的1.2倍
$719.4M
营收增速更快
RH
高出5.8%
3.1%
净利率更高
DOC
高出69.1%
4.1%
自由现金流更多
DOC
多$274.0M
$83.0M
两年增速更快
RH
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $883.8M |
| 净利润 | $114.0M | $36.3M |
| 毛利率 | — | 44.1% |
| 营业利润率 | 17.4% | 12.0% |
| 净利率 | 73.2% | 4.1% |
| 营收同比 | 3.1% | 8.9% |
| 净利润同比 | 2406.4% | 9.3% |
| 每股收益（稀释后） | $0.16 | $1.83 |
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DOCRH
| Q4 25 | $719.4M | $883.8M | ||
| Q3 25 | $705.9M | $899.2M | ||
| Q2 25 | $694.3M | $814.0M | ||
| Q1 25 | $702.9M | $812.4M | ||
| Q4 24 | $698.0M | $811.7M | ||
| Q3 24 | $700.4M | $829.7M | ||
| Q2 24 | $695.5M | $727.0M | ||
| Q1 24 | $606.6M | $738.3M |
净利润DOCRH
| Q4 25 | $114.0M | $36.3M | ||
| Q3 25 | $-117.1M | $51.7M | ||
| Q2 25 | $31.7M | $8.0M | ||
| Q1 25 | $42.8M | $13.9M | ||
| Q4 24 | $4.5M | $33.2M | ||
| Q3 24 | $85.9M | $29.0M | ||
| Q2 24 | $146.0M | $-3.6M | ||
| Q1 24 | $6.7M | $11.4M |
毛利率DOCRH
| Q4 25 | — | 44.1% | ||
| Q3 25 | 58.6% | 45.5% | ||
| Q2 25 | 60.2% | 43.7% | ||
| Q1 25 | 61.1% | 44.7% | ||
| Q4 24 | 60.3% | 44.5% | ||
| Q3 24 | 60.0% | 45.2% | ||
| Q2 24 | 60.6% | 43.5% | ||
| Q1 24 | 59.8% | 43.5% |
营业利润率DOCRH
| Q4 25 | 17.4% | 12.0% | ||
| Q3 25 | 9.2% | 14.3% | ||
| Q2 25 | 5.7% | 6.9% | ||
| Q1 25 | 7.7% | 8.7% | ||
| Q4 24 | -2.2% | 12.5% | ||
| Q3 24 | 14.1% | 11.6% | ||
| Q2 24 | 22.3% | 7.5% | ||
| Q1 24 | 3.7% | 8.7% |
净利率DOCRH
| Q4 25 | 73.2% | 4.1% | ||
| Q3 25 | -16.6% | 5.8% | ||
| Q2 25 | 4.6% | 1.0% | ||
| Q1 25 | 6.1% | 1.7% | ||
| Q4 24 | 0.7% | 4.1% | ||
| Q3 24 | 12.3% | 3.5% | ||
| Q2 24 | 21.0% | -0.5% | ||
| Q1 24 | 1.1% | 1.5% |
每股收益（稀释后）DOCRH
| Q4 25 | $0.16 | $1.83 | ||
| Q3 25 | $-0.17 | $2.62 | ||
| Q2 25 | $0.05 | $0.40 | ||
| Q1 25 | $0.06 | $0.71 | ||
| Q4 24 | $0.02 | $1.66 | ||
| Q3 24 | $0.12 | $1.45 | ||
| Q2 24 | $0.21 | $-0.20 | ||
| Q1 24 | $0.01 | $0.91 |
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 | $43.1M |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $3.3M |
| 总资产 | $20.3B | $4.8B |
| 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DOCRH
| Q4 25 | $467.5M | $43.1M | ||
| Q3 25 | $91.0M | $34.6M | ||
| Q2 25 | $89.4M | $46.1M | ||
| Q1 25 | $70.6M | $30.4M | ||
| Q4 24 | $119.8M | $87.0M | ||
| Q3 24 | $180.4M | $78.3M | ||
| Q2 24 | $106.9M | $101.8M | ||
| Q1 24 | $101.8M | $123.7M |
总债务DOCRH
| 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DOCRH
| Q4 25 | $7.5B | $3.3M | ||
| Q3 25 | $7.6B | $-40.9M | ||
| Q2 25 | $7.9B | $-110.8M | ||
| Q1 25 | $8.2B | $-163.6M | ||
| Q4 24 | $8.4B | $-183.0M | ||
| Q3 24 | $8.6B | $-234.7M | ||
| Q2 24 | $8.8B | $-289.9M | ||
| Q1 24 | $8.9B | $-297.4M |
总资产DOCRH
| Q4 25 | $20.3B | $4.8B | ||
| Q3 25 | $19.6B | $4.7B | ||
| Q2 25 | $19.8B | $4.7B | ||
| Q1 25 | $19.8B | $4.6B | ||
| Q4 24 | $19.9B | $4.5B | ||
| Q3 24 | $20.0B | $4.4B | ||
| Q2 24 | $20.2B | $4.2B | ||
| Q1 24 | $20.5B | $4.1B |
负债/权益比DOCRH
| 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 | $131.9M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $83.0M |
| 自由现金流率自由现金流/营收 | 49.6% | 9.4% |
| 资本支出强度资本支出/营收 | 124.4% | 5.5% |
| 现金转化率经营现金流/净利润 | 10.99× | 3.64× |
| 过去12个月自由现金流最近4个季度 | — | $128.1M |
8季度趋势，按日历期对齐
经营现金流DOCRH
| Q4 25 | $1.3B | $131.9M | ||
| Q3 25 | $315.0M | $137.7M | ||
| Q2 25 | $363.5M | $86.6M | ||
| Q1 25 | $279.4M | $-18.8M | ||
| Q4 24 | $1.1B | $-31.4M | ||
| Q3 24 | $318.2M | $11.2M | ||
| Q2 24 | $316.2M | $56.1M | ||
| Q1 24 | $152.6M | $-114.0M |
自由现金流DOCRH
| Q4 25 | $357.0M | $83.0M | ||
| Q3 25 | — | $80.7M | ||
| Q2 25 | — | $34.1M | ||
| Q1 25 | — | $-69.7M | ||
| Q4 24 | $333.7M | $-96.0M | ||
| Q3 24 | — | $-37.9M | ||
| Q2 24 | — | $-10.1M | ||
| Q1 24 | — | $-251.5M |
自由现金流率DOCRH
| Q4 25 | 49.6% | 9.4% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 4.2% | ||
| Q1 25 | — | -8.6% | ||
| Q4 24 | 47.8% | -11.8% | ||
| Q3 24 | — | -4.6% | ||
| Q2 24 | — | -1.4% | ||
| Q1 24 | — | -34.1% |
资本支出强度DOCRH
| Q4 25 | 124.4% | 5.5% | ||
| Q3 25 | — | 6.3% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | — | 6.3% | ||
| Q4 24 | 105.6% | 8.0% | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | — | 9.1% | ||
| Q1 24 | — | 18.6% |
现金转化率DOCRH
| Q4 25 | 10.99× | 3.64× | ||
| Q3 25 | — | 2.66× | ||
| Q2 25 | 11.48× | 10.78× | ||
| Q1 25 | 6.52× | -1.35× | ||
| Q4 24 | 235.43× | -0.95× | ||
| Q3 24 | 3.71× | 0.39× | ||
| Q2 24 | 2.17× | — | ||
| Q1 24 | 22.85× | -10.01× |
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
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
