vs
Healthpeak Properties（DOC）与Taylor Morrison Home Corp（TMHC）财务数据对比。点击上方公司名可切换其他公司
Taylor Morrison Home Corp的季度营收约是Healthpeak Properties的1.9倍（$1.4B vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 7.1%，领先66.1%），Healthpeak Properties同比增速更快（3.1% vs -26.8%），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs -16.5%）
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。
泰勒莫里森住房公司是美国规模最大的住宅建筑商之一，总部位于亚利桑那州斯科茨代尔，2007年7月由泰勒伍德罗与莫里森住房合并成立。公司业务覆盖亚利桑那、加利福尼亚、得克萨斯等十余个州，产品涵盖首次置业、中端及中高端住宅，可满足不同层级客户的住房需求。
DOC vs TMHC — 直观对比
营收规模更大
TMHC
是对方的1.9倍
$719.4M
营收增速更快
DOC
高出29.9%
-26.8%
净利率更高
DOC
高出66.1%
7.1%
两年增速更快
DOC
近两年复合增速
-16.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $1.4B |
| 净利润 | $114.0M | $98.6M |
| 毛利率 | — | 21.0% |
| 营业利润率 | 17.4% | — |
| 净利率 | 73.2% | 7.1% |
| 营收同比 | 3.1% | -26.8% |
| 净利润同比 | 2406.4% | -53.8% |
| 每股收益（稀释后） | $0.16 | $1.12 |
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DOCTMHC
| Q1 26 | — | $1.4B | ||
| Q4 25 | $719.4M | $2.1B | ||
| Q3 25 | $705.9M | $2.1B | ||
| Q2 25 | $694.3M | $2.0B | ||
| Q1 25 | $702.9M | $1.9B | ||
| Q4 24 | $698.0M | $2.4B | ||
| Q3 24 | $700.4M | $2.1B | ||
| Q2 24 | $695.5M | $2.0B |
净利润DOCTMHC
| Q1 26 | — | $98.6M | ||
| Q4 25 | $114.0M | $174.0M | ||
| Q3 25 | $-117.1M | $201.4M | ||
| Q2 25 | $31.7M | $193.6M | ||
| Q1 25 | $42.8M | $213.5M | ||
| Q4 24 | $4.5M | $242.5M | ||
| Q3 24 | $85.9M | $251.1M | ||
| Q2 24 | $146.0M | $199.5M |
毛利率DOCTMHC
| Q1 26 | — | 21.0% | ||
| Q4 25 | — | 22.0% | ||
| Q3 25 | 58.6% | 22.7% | ||
| Q2 25 | 60.2% | 23.0% | ||
| Q1 25 | 61.1% | 24.4% | ||
| Q4 24 | 60.3% | 23.9% | ||
| Q3 24 | 60.0% | 25.0% | ||
| Q2 24 | 60.6% | 23.7% |
营业利润率DOCTMHC
| Q1 26 | — | — | ||
| Q4 25 | 17.4% | — | ||
| Q3 25 | 9.2% | — | ||
| Q2 25 | 5.7% | — | ||
| Q1 25 | 7.7% | — | ||
| Q4 24 | -2.2% | — | ||
| Q3 24 | 14.1% | — | ||
| Q2 24 | 22.3% | — |
净利率DOCTMHC
| Q1 26 | — | 7.1% | ||
| Q4 25 | 73.2% | 8.3% | ||
| Q3 25 | -16.6% | 9.6% | ||
| Q2 25 | 4.6% | 9.5% | ||
| Q1 25 | 6.1% | 11.3% | ||
| Q4 24 | 0.7% | 10.3% | ||
| Q3 24 | 12.3% | 11.8% | ||
| Q2 24 | 21.0% | 10.0% |
每股收益（稀释后）DOCTMHC
| Q1 26 | — | $1.12 | ||
| Q4 25 | $0.16 | $1.77 | ||
| Q3 25 | $-0.17 | $2.01 | ||
| Q2 25 | $0.05 | $1.92 | ||
| Q1 25 | $0.06 | $2.07 | ||
| Q4 24 | $0.02 | $2.29 | ||
| Q3 24 | $0.12 | $2.37 | ||
| Q2 24 | $0.21 | $1.86 |
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 | $652.9M |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $6.2B |
| 总资产 | $20.3B | $9.8B |
| 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DOCTMHC
| Q1 26 | — | $652.9M | ||
| Q4 25 | $467.5M | $850.0M | ||
| Q3 25 | $91.0M | $370.6M | ||
| Q2 25 | $89.4M | $130.2M | ||
| Q1 25 | $70.6M | $377.8M | ||
| Q4 24 | $119.8M | $487.2M | ||
| Q3 24 | $180.4M | $256.4M | ||
| Q2 24 | $106.9M | $246.8M |
总债务DOCTMHC
| Q1 26 | — | — | ||
| Q4 25 | $9.8B | $2.3B | ||
| Q3 25 | $9.1B | $2.2B | ||
| Q2 25 | $9.0B | $2.1B | ||
| Q1 25 | $8.9B | $2.1B | ||
| Q4 24 | $8.7B | $2.1B | ||
| Q3 24 | $8.6B | $2.1B | ||
| Q2 24 | $8.6B | $2.2B |
股东权益DOCTMHC
| Q1 26 | — | $6.2B | ||
| Q4 25 | $7.5B | $6.3B | ||
| Q3 25 | $7.6B | $6.2B | ||
| Q2 25 | $7.9B | $6.1B | ||
| Q1 25 | $8.2B | $6.0B | ||
| Q4 24 | $8.4B | $5.9B | ||
| Q3 24 | $8.6B | $5.7B | ||
| Q2 24 | $8.8B | $5.5B |
总资产DOCTMHC
| Q1 26 | — | $9.8B | ||
| Q4 25 | $20.3B | $9.8B | ||
| Q3 25 | $19.6B | $9.6B | ||
| Q2 25 | $19.8B | $9.5B | ||
| Q1 25 | $19.8B | $9.4B | ||
| Q4 24 | $19.9B | $9.3B | ||
| Q3 24 | $20.0B | $9.3B | ||
| Q2 24 | $20.2B | $9.1B |
负债/权益比DOCTMHC
| Q1 26 | — | — | ||
| Q4 25 | 1.31× | 0.36× | ||
| Q3 25 | 1.20× | 0.35× | ||
| Q2 25 | 1.14× | 0.35× | ||
| Q1 25 | 1.08× | 0.35× | ||
| Q4 24 | 1.04× | 0.36× | ||
| Q3 24 | 1.00× | 0.37× | ||
| Q2 24 | 0.98× | 0.39× |
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DOCTMHC
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $646.4M | ||
| Q3 25 | $315.0M | $219.6M | ||
| Q2 25 | $363.5M | $-126.0M | ||
| Q1 25 | $279.4M | $77.2M | ||
| Q4 24 | $1.1B | $438.2M | ||
| Q3 24 | $318.2M | $135.9M | ||
| Q2 24 | $316.2M | $-233.3M |
自由现金流DOCTMHC
| Q1 26 | — | — | ||
| Q4 25 | $357.0M | $635.3M | ||
| Q3 25 | — | $206.6M | ||
| Q2 25 | — | $-133.6M | ||
| Q1 25 | — | $68.7M | ||
| Q4 24 | $333.7M | $428.2M | ||
| Q3 24 | — | $127.1M | ||
| Q2 24 | — | $-241.7M |
自由现金流率DOCTMHC
| Q1 26 | — | — | ||
| Q4 25 | 49.6% | 30.3% | ||
| Q3 25 | — | 9.9% | ||
| Q2 25 | — | -6.6% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | 47.8% | 18.2% | ||
| Q3 24 | — | 6.0% | ||
| Q2 24 | — | -12.1% |
资本支出强度DOCTMHC
| Q1 26 | — | — | ||
| Q4 25 | 124.4% | 0.5% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 105.6% | 0.4% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.4% |
现金转化率DOCTMHC
| Q1 26 | — | — | ||
| Q4 25 | 10.99× | 3.71× | ||
| Q3 25 | — | 1.09× | ||
| Q2 25 | 11.48× | -0.65× | ||
| Q1 25 | 6.52× | 0.36× | ||
| Q4 24 | 235.43× | 1.81× | ||
| Q3 24 | 3.71× | 0.54× | ||
| Q2 24 | 2.17× | -1.17× |
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
TMHC
| Home closings revenue, net | $1.3B | 95% |
| Financial services revenue, net | $49.3M | 4% |
| Land closings revenue | $14.5M | 1% |
| Amenity and other revenue | $11.9M | 1% |
