vs
Healthpeak Properties（DOC）与SELECT MEDICAL HOLDINGS CORP（SEM）财务数据对比。点击上方公司名可切换其他公司
SELECT MEDICAL HOLDINGS CORP的季度营收约是Healthpeak Properties的2.0倍（$1.4B vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 4.5%，领先68.7%），SELECT MEDICAL HOLDINGS CORP同比增速更快（5.0% vs 3.1%），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs 5.3%）
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。
Select Medical是总部位于美国宾夕法尼亚州的医疗健康企业，业务涵盖长期急症护理、住院康复医院运营，同时开设有职业健康与物理治疗诊所，母公司Select Medical Holdings在纽约证券交易所挂牌上市。
DOC vs SEM — 直观对比
营收规模更大
SEM
是对方的2.0倍
$719.4M
营收增速更快
SEM
高出2.0%
3.1%
净利率更高
DOC
高出68.7%
4.5%
两年增速更快
DOC
近两年复合增速
5.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $1.4B |
| 净利润 | $114.0M | $63.8M |
| 毛利率 | — | — |
| 营业利润率 | 17.4% | 6.9% |
| 净利率 | 73.2% | 4.5% |
| 营收同比 | 3.1% | 5.0% |
| 净利润同比 | 2406.4% | -14.7% |
| 每股收益（稀释后） | $0.16 | $0.35 |
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DOCSEM
| Q1 26 | — | $1.4B | ||
| Q4 25 | $719.4M | $1.4B | ||
| Q3 25 | $705.9M | $1.4B | ||
| Q2 25 | $694.3M | $1.3B | ||
| Q1 25 | $702.9M | $1.4B | ||
| Q4 24 | $698.0M | $1.3B | ||
| Q3 24 | $700.4M | $1.3B | ||
| Q2 24 | $695.5M | $1.3B |
净利润DOCSEM
| Q1 26 | — | $63.8M | ||
| Q4 25 | $114.0M | $20.2M | ||
| Q3 25 | $-117.1M | $28.8M | ||
| Q2 25 | $31.7M | $40.6M | ||
| Q1 25 | $42.8M | $56.7M | ||
| Q4 24 | $4.5M | $-16.1M | ||
| Q3 24 | $85.9M | $55.6M | ||
| Q2 24 | $146.0M | $77.6M |
毛利率DOCSEM
| Q1 26 | — | — | ||
| 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% | — |
营业利润率DOCSEM
| Q1 26 | — | 6.9% | ||
| Q4 25 | 17.4% | 4.6% | ||
| Q3 25 | 9.2% | 5.4% | ||
| Q2 25 | 5.7% | 6.5% | ||
| Q1 25 | 7.7% | 8.3% | ||
| Q4 24 | -2.2% | 1.6% | ||
| Q3 24 | 14.1% | 4.3% | ||
| Q2 24 | 22.3% | 5.8% |
净利率DOCSEM
| Q1 26 | — | 4.5% | ||
| Q4 25 | 73.2% | 1.4% | ||
| Q3 25 | -16.6% | 2.1% | ||
| Q2 25 | 4.6% | 3.0% | ||
| Q1 25 | 6.1% | 4.2% | ||
| Q4 24 | 0.7% | -1.2% | ||
| Q3 24 | 12.3% | 4.4% | ||
| Q2 24 | 21.0% | 6.1% |
每股收益（稀释后）DOCSEM
| Q1 26 | — | $0.35 | ||
| Q4 25 | $0.16 | $0.17 | ||
| Q3 25 | $-0.17 | $0.23 | ||
| Q2 25 | $0.05 | $0.32 | ||
| Q1 25 | $0.06 | $0.44 | ||
| Q4 24 | $0.02 | $-0.12 | ||
| Q3 24 | $0.12 | $0.43 | ||
| Q2 24 | $0.21 | $0.60 |
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 | $25.7M |
| 总债务越低越好 | $9.8B | $1.8B |
| 股东权益账面价值 | $7.5B | $2.1B |
| 总资产 | $20.3B | $6.0B |
| 负债/权益比越低杠杆越低 | 1.31× | 0.88× |
8季度趋势，按日历期对齐
现金及短期投资DOCSEM
| Q1 26 | — | $25.7M | ||
| Q4 25 | $467.5M | $26.5M | ||
| Q3 25 | $91.0M | $60.1M | ||
| Q2 25 | $89.4M | $52.3M | ||
| Q1 25 | $70.6M | $53.2M | ||
| Q4 24 | $119.8M | $59.7M | ||
| Q3 24 | $180.4M | $191.5M | ||
| Q2 24 | $106.9M | $111.2M |
总债务DOCSEM
| Q1 26 | — | $1.8B | ||
| Q4 25 | $9.8B | $1.8B | ||
| Q3 25 | $9.1B | $1.7B | ||
| Q2 25 | $9.0B | $1.8B | ||
| Q1 25 | $8.9B | $1.8B | ||
| Q4 24 | $8.7B | $1.7B | ||
| Q3 24 | $8.6B | $3.1B | ||
| Q2 24 | $8.6B | $3.6B |
股东权益DOCSEM
| Q1 26 | — | $2.1B | ||
| Q4 25 | $7.5B | $1.7B | ||
| Q3 25 | $7.6B | $1.7B | ||
| Q2 25 | $7.9B | $1.7B | ||
| Q1 25 | $8.2B | $1.7B | ||
| Q4 24 | $8.4B | $1.7B | ||
| Q3 24 | $8.6B | $1.9B | ||
| Q2 24 | $8.8B | $1.4B |
总资产DOCSEM
| Q1 26 | — | $6.0B | ||
| Q4 25 | $20.3B | $5.9B | ||
| Q3 25 | $19.6B | $5.7B | ||
| Q2 25 | $19.8B | $5.7B | ||
| Q1 25 | $19.8B | $5.7B | ||
| Q4 24 | $19.9B | $5.6B | ||
| Q3 24 | $20.0B | $8.0B | ||
| Q2 24 | $20.2B | $7.9B |
负债/权益比DOCSEM
| Q1 26 | — | 0.88× | ||
| Q4 25 | 1.31× | 1.06× | ||
| Q3 25 | 1.20× | 1.03× | ||
| Q2 25 | 1.14× | 1.10× | ||
| Q1 25 | 1.08× | 1.03× | ||
| Q4 24 | 1.04× | 1.01× | ||
| Q3 24 | 1.00× | 1.62× | ||
| Q2 24 | 0.98× | 2.54× |
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DOCSEM
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $64.3M | ||
| Q3 25 | $315.0M | $175.3M | ||
| Q2 25 | $363.5M | $110.3M | ||
| Q1 25 | $279.4M | $-3.5M | ||
| Q4 24 | $1.1B | $125.4M | ||
| Q3 24 | $318.2M | $181.0M | ||
| Q2 24 | $316.2M | $278.2M |
自由现金流DOCSEM
| Q1 26 | — | — | ||
| Q4 25 | $357.0M | $5.2M | ||
| Q3 25 | — | $122.2M | ||
| Q2 25 | — | $45.6M | ||
| Q1 25 | — | $-55.8M | ||
| Q4 24 | $333.7M | $62.0M | ||
| Q3 24 | — | $130.3M | ||
| Q2 24 | — | $222.6M |
自由现金流率DOCSEM
| Q1 26 | — | — | ||
| Q4 25 | 49.6% | 0.4% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | -4.1% | ||
| Q4 24 | 47.8% | 4.7% | ||
| Q3 24 | — | 10.2% | ||
| Q2 24 | — | 17.4% |
资本支出强度DOCSEM
| Q1 26 | — | — | ||
| Q4 25 | 124.4% | 4.2% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | 105.6% | 4.8% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | — | 4.3% |
现金转化率DOCSEM
| Q1 26 | — | — | ||
| Q4 25 | 10.99× | 3.19× | ||
| Q3 25 | — | 6.09× | ||
| Q2 25 | 11.48× | 2.72× | ||
| Q1 25 | 6.52× | -0.06× | ||
| Q4 24 | 235.43× | — | ||
| Q3 24 | 3.71× | 3.25× | ||
| Q2 24 | 2.17× | 3.59× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
