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Healthpeak Properties（DOC）与BOSTON BEER CO INC（SAM）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BOSTON BEER CO INC的1.6倍（$719.4M vs $461.6M），Healthpeak Properties同比增速更快（3.1% vs -4.1%），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs -10.7%）
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。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
DOC vs SAM — 直观对比
营收规模更大
DOC
是对方的1.6倍
$461.6M
营收增速更快
DOC
高出7.2%
-4.1%
两年增速更快
DOC
近两年复合增速
-10.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $461.6M |
| 净利润 | $114.0M | — |
| 毛利率 | — | 46.4% |
| 营业利润率 | 17.4% | 12.4% |
| 净利率 | 73.2% | — |
| 营收同比 | 3.1% | -4.1% |
| 净利润同比 | 2406.4% | — |
| 每股收益（稀释后） | $0.16 | $2.16 |
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DOCSAM
| Q1 26 | — | $461.6M | ||
| Q4 25 | $719.4M | $385.7M | ||
| Q3 25 | $705.9M | $537.5M | ||
| Q2 25 | $694.3M | $587.9M | ||
| Q1 25 | $702.9M | $453.9M | ||
| Q4 24 | $698.0M | $402.3M | ||
| Q3 24 | $700.4M | $605.5M | ||
| Q2 24 | $695.5M | $579.1M |
净利润DOCSAM
| Q1 26 | — | — | ||
| Q4 25 | $114.0M | $-22.5M | ||
| Q3 25 | $-117.1M | $46.2M | ||
| Q2 25 | $31.7M | $60.4M | ||
| Q1 25 | $42.8M | $24.4M | ||
| Q4 24 | $4.5M | $-38.8M | ||
| Q3 24 | $85.9M | $33.5M | ||
| Q2 24 | $146.0M | $52.3M |
毛利率DOCSAM
| Q1 26 | — | 46.4% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | 58.6% | 50.8% | ||
| Q2 25 | 60.2% | 49.8% | ||
| Q1 25 | 61.1% | 48.3% | ||
| Q4 24 | 60.3% | 39.9% | ||
| Q3 24 | 60.0% | 46.3% | ||
| Q2 24 | 60.6% | 46.0% |
营业利润率DOCSAM
| Q1 26 | — | 12.4% | ||
| Q4 25 | 17.4% | -8.6% | ||
| Q3 25 | 9.2% | 11.5% | ||
| Q2 25 | 5.7% | 14.0% | ||
| Q1 25 | 7.7% | 7.4% | ||
| Q4 24 | -2.2% | -13.9% | ||
| Q3 24 | 14.1% | 7.6% | ||
| Q2 24 | 22.3% | 12.2% |
净利率DOCSAM
| Q1 26 | — | — | ||
| Q4 25 | 73.2% | -5.8% | ||
| Q3 25 | -16.6% | 8.6% | ||
| Q2 25 | 4.6% | 10.3% | ||
| Q1 25 | 6.1% | 5.4% | ||
| Q4 24 | 0.7% | -9.6% | ||
| Q3 24 | 12.3% | 5.5% | ||
| Q2 24 | 21.0% | 9.0% |
每股收益（稀释后）DOCSAM
| Q1 26 | — | $2.16 | ||
| Q4 25 | $0.16 | $-1.97 | ||
| Q3 25 | $-0.17 | $4.25 | ||
| Q2 25 | $0.05 | $5.45 | ||
| Q1 25 | $0.06 | $2.16 | ||
| Q4 24 | $0.02 | $-3.23 | ||
| Q3 24 | $0.12 | $2.86 | ||
| Q2 24 | $0.21 | $4.39 |
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 | $164.1M |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $682.6M |
| 总资产 | $20.3B | $1.2B |
| 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DOCSAM
| Q1 26 | — | $164.1M | ||
| Q4 25 | $467.5M | $223.4M | ||
| Q3 25 | $91.0M | $250.5M | ||
| Q2 25 | $89.4M | $212.4M | ||
| Q1 25 | $70.6M | $152.5M | ||
| Q4 24 | $119.8M | $211.8M | ||
| Q3 24 | $180.4M | $255.6M | ||
| Q2 24 | $106.9M | $219.3M |
总债务DOCSAM
| Q1 26 | — | — | ||
| 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 | — |
股东权益DOCSAM
| Q1 26 | — | $682.6M | ||
| Q4 25 | $7.5B | $846.3M | ||
| Q3 25 | $7.6B | $911.0M | ||
| Q2 25 | $7.9B | $912.3M | ||
| Q1 25 | $8.2B | $897.0M | ||
| Q4 24 | $8.4B | $916.2M | ||
| Q3 24 | $8.6B | $1.0B | ||
| Q2 24 | $8.8B | $1.0B |
总资产DOCSAM
| Q1 26 | — | $1.2B | ||
| Q4 25 | $20.3B | $1.2B | ||
| Q3 25 | $19.6B | $1.2B | ||
| Q2 25 | $19.8B | $1.3B | ||
| Q1 25 | $19.8B | $1.2B | ||
| Q4 24 | $19.9B | $1.3B | ||
| Q3 24 | $20.0B | $1.4B | ||
| Q2 24 | $20.2B | $1.4B |
负债/权益比DOCSAM
| Q1 26 | — | — | ||
| 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× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $357.0M | — |
| 自由现金流率自由现金流/营收 | 49.6% | — |
| 资本支出强度资本支出/营收 | 124.4% | — |
| 现金转化率经营现金流/净利润 | 10.99× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流DOCSAM
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $39.9M | ||
| Q3 25 | $315.0M | $101.8M | ||
| Q2 25 | $363.5M | $126.5M | ||
| Q1 25 | $279.4M | $1.9M | ||
| Q4 24 | $1.1B | $41.9M | ||
| Q3 24 | $318.2M | $115.9M | ||
| Q2 24 | $316.2M | $96.0M |
自由现金流DOCSAM
| Q1 26 | — | — | ||
| Q4 25 | $357.0M | $22.1M | ||
| Q3 25 | — | $89.2M | ||
| Q2 25 | — | $112.2M | ||
| Q1 25 | — | $-8.0M | ||
| Q4 24 | $333.7M | $18.4M | ||
| Q3 24 | — | $99.2M | ||
| Q2 24 | — | $75.6M |
自由现金流率DOCSAM
| Q1 26 | — | — | ||
| Q4 25 | 49.6% | 5.7% | ||
| Q3 25 | — | 16.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | -1.8% | ||
| Q4 24 | 47.8% | 4.6% | ||
| Q3 24 | — | 16.4% | ||
| Q2 24 | — | 13.1% |
资本支出强度DOCSAM
| Q1 26 | — | — | ||
| Q4 25 | 124.4% | 4.6% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | 105.6% | 5.8% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 3.5% |
现金转化率DOCSAM
| Q1 26 | — | — | ||
| Q4 25 | 10.99× | — | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | 11.48× | 2.09× | ||
| Q1 25 | 6.52× | 0.08× | ||
| Q4 24 | 235.43× | — | ||
| Q3 24 | 3.71× | 3.46× | ||
| Q2 24 | 2.17× | 1.83× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
