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Healthpeak Properties（DOC）与SPIRE INC（SR）财务数据对比。点击上方公司名可切换其他公司
SPIRE INC的季度营收约是Healthpeak Properties的1.1倍（$762.2M vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 12.5%，领先60.7%），SPIRE INC同比增速更快（13.9% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $-121.8M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs -17.8%）
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。
Spire Inc是总部位于美国密苏里州圣路易斯的区域公用事业控股公司，核心业务为受监管的天然气供应服务，同时布局非监管类业务拓展商业机会。旗下主要子公司Laclede Gas Company是密苏里州最大的天然气分销公用事业企业，为圣路易斯市及密苏里州东部10个县的约63.1万户住宅、商业及工业客户提供服务。
DOC vs SR — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $762.2M |
| 净利润 | $114.0M | $95.0M |
| 毛利率 | — | 55.1% |
| 营业利润率 | 17.4% | 22.8% |
| 净利率 | 73.2% | 12.5% |
| 营收同比 | 3.1% | 13.9% |
| 净利润同比 | 2406.4% | 16.9% |
| 每股收益（稀释后） | $0.16 | $1.54 |
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
| Q4 25 | $719.4M | $762.2M | ||
| Q3 25 | $705.9M | $334.1M | ||
| Q2 25 | $694.3M | $421.9M | ||
| Q1 25 | $702.9M | $1.1B | ||
| Q4 24 | $698.0M | $669.1M | ||
| Q3 24 | $700.4M | $293.8M | ||
| Q2 24 | $695.5M | $414.1M | ||
| Q1 24 | $606.6M | $1.1B |
| Q4 25 | $114.0M | $95.0M | ||
| Q3 25 | $-117.1M | $-39.8M | ||
| Q2 25 | $31.7M | $20.9M | ||
| Q1 25 | $42.8M | $209.3M | ||
| Q4 24 | $4.5M | $81.3M | ||
| Q3 24 | $85.9M | $-25.9M | ||
| Q2 24 | $146.0M | $-12.6M | ||
| Q1 24 | $6.7M | $204.3M |
| Q4 25 | — | 55.1% | ||
| Q3 25 | 58.6% | — | ||
| Q2 25 | 60.2% | — | ||
| Q1 25 | 61.1% | — | ||
| Q4 24 | 60.3% | 55.6% | ||
| Q3 24 | 60.0% | — | ||
| Q2 24 | 60.6% | — | ||
| Q1 24 | 59.8% | — |
| Q4 25 | 17.4% | 22.8% | ||
| Q3 25 | 9.2% | -0.1% | ||
| Q2 25 | 5.7% | 16.4% | ||
| Q1 25 | 7.7% | 29.1% | ||
| Q4 24 | -2.2% | 22.2% | ||
| Q3 24 | 14.1% | 6.7% | ||
| Q2 24 | 22.3% | 7.4% | ||
| Q1 24 | 3.7% | 26.5% |
| Q4 25 | 73.2% | 12.5% | ||
| Q3 25 | -16.6% | -11.9% | ||
| Q2 25 | 4.6% | 5.0% | ||
| Q1 25 | 6.1% | 19.9% | ||
| Q4 24 | 0.7% | 12.2% | ||
| Q3 24 | 12.3% | -8.8% | ||
| Q2 24 | 21.0% | -3.0% | ||
| Q1 24 | 1.1% | 18.1% |
| Q4 25 | $0.16 | $1.54 | ||
| Q3 25 | $-0.17 | $-0.77 | ||
| Q2 25 | $0.05 | $0.29 | ||
| Q1 25 | $0.06 | $3.51 | ||
| Q4 24 | $0.02 | $1.34 | ||
| Q3 24 | $0.12 | $-0.63 | ||
| Q2 24 | $0.21 | $-0.28 | ||
| Q1 24 | $0.01 | $3.58 |
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 | $4.1M |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $3.4B |
| 总资产 | $20.3B | $11.9B |
| 负债/权益比越低杠杆越低 | 1.31× | — |
8季度趋势，按日历期对齐
| Q4 25 | $467.5M | $4.1M | ||
| Q3 25 | $91.0M | $5.7M | ||
| Q2 25 | $89.4M | $13.1M | ||
| Q1 25 | $70.6M | $15.2M | ||
| Q4 24 | $119.8M | $11.5M | ||
| Q3 24 | $180.4M | $4.5M | ||
| Q2 24 | $106.9M | $7.4M | ||
| Q1 24 | $101.8M | $25.6M |
| 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 | — |
| Q4 25 | $7.5B | $3.4B | ||
| Q3 25 | $7.6B | $3.4B | ||
| Q2 25 | $7.9B | $3.5B | ||
| Q1 25 | $8.2B | $3.5B | ||
| Q4 24 | $8.4B | $3.3B | ||
| Q3 24 | $8.6B | $3.2B | ||
| Q2 24 | $8.8B | $3.3B | ||
| Q1 24 | $8.9B | $3.4B |
| Q4 25 | $20.3B | $11.9B | ||
| Q3 25 | $19.6B | $11.6B | ||
| Q2 25 | $19.8B | $11.4B | ||
| Q1 25 | $19.8B | $11.3B | ||
| Q4 24 | $19.9B | $11.3B | ||
| Q3 24 | $20.0B | $10.9B | ||
| Q2 24 | $20.2B | $10.7B | ||
| Q1 24 | $20.5B | $10.7B |
| 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 | $81.0M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $-121.8M |
| 自由现金流率自由现金流/营收 | 49.6% | -16.0% |
| 资本支出强度资本支出/营收 | 124.4% | 26.6% |
| 现金转化率经营现金流/净利润 | 10.99× | 0.85× |
| 过去12个月自由现金流最近4个季度 | — | $-286.7M |
8季度趋势，按日历期对齐
| Q4 25 | $1.3B | $81.0M | ||
| Q3 25 | $315.0M | $-4.9M | ||
| Q2 25 | $363.5M | $129.1M | ||
| Q1 25 | $279.4M | $372.7M | ||
| Q4 24 | $1.1B | $81.1M | ||
| Q3 24 | $318.2M | $82.9M | ||
| Q2 24 | $316.2M | $270.1M | ||
| Q1 24 | $152.6M | $489.4M |
| Q4 25 | $357.0M | $-121.8M | ||
| Q3 25 | — | $-227.6M | ||
| Q2 25 | — | $-91.4M | ||
| Q1 25 | — | $154.1M | ||
| Q4 24 | $333.7M | $-179.5M | ||
| Q3 24 | — | $-146.9M | ||
| Q2 24 | — | $47.9M | ||
| Q1 24 | — | $306.6M |
| Q4 25 | 49.6% | -16.0% | ||
| Q3 25 | — | -68.1% | ||
| Q2 25 | — | -21.7% | ||
| Q1 25 | — | 14.7% | ||
| Q4 24 | 47.8% | -26.8% | ||
| Q3 24 | — | -50.0% | ||
| Q2 24 | — | 11.6% | ||
| Q1 24 | — | 27.2% |
| Q4 25 | 124.4% | 26.6% | ||
| Q3 25 | — | 66.7% | ||
| Q2 25 | — | 52.3% | ||
| Q1 25 | — | 20.8% | ||
| Q4 24 | 105.6% | 38.9% | ||
| Q3 24 | — | 78.2% | ||
| Q2 24 | — | 53.7% | ||
| Q1 24 | — | 16.2% |
| Q4 25 | 10.99× | 0.85× | ||
| Q3 25 | — | — | ||
| Q2 25 | 11.48× | 6.18× | ||
| Q1 25 | 6.52× | 1.78× | ||
| Q4 24 | 235.43× | 1.00× | ||
| Q3 24 | 3.71× | — | ||
| Q2 24 | 2.17× | — | ||
| Q1 24 | 22.85× | 2.40× |
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
SR
| Residential | $474.9M | 62% |
| Commercial And Industrial | $148.4M | 19% |
| Gas Marketing | $41.1M | 5% |
| Midstream | $39.0M | 5% |
| Transportation | $37.1M | 5% |
| Offsystem And Other Inventive | $19.7M | 3% |
| Other Customer Revenue | $4.6M | 1% |
