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Healthpeak Properties（DOC）与TRINET GROUP, INC.（TNET）财务数据对比。点击上方公司名可切换其他公司
TRINET GROUP, INC.的季度营收约是Healthpeak Properties的1.7倍（$1.2B vs $719.4M），Healthpeak Properties同比增速更快（3.1% vs -2.2%），Healthpeak Properties自由现金流更多（$357.0M vs $43.0M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs -0.6%）
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。
TriNet Group, Inc.是一家面向中小企业的专业雇主组织，总部位于加州都柏林，服务员工规模在3至2500人之间的各类机构。可提供薪资管理、健康福利管理服务，还能为客户提供劳动法规合规、风险降低相关咨询，可作为外包人力资源部门为企业分担人事相关事务。
DOC vs TNET — 直观对比
营收规模更大
TNET
是对方的1.7倍
$719.4M
营收增速更快
DOC
高出5.3%
-2.2%
自由现金流更多
DOC
多$314.0M
$43.0M
两年增速更快
DOC
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $1.2B |
| 净利润 | $114.0M | — |
| 毛利率 | — | — |
| 营业利润率 | 17.4% | 0.1% |
| 净利率 | 73.2% | — |
| 营收同比 | 3.1% | -2.2% |
| 净利润同比 | 2406.4% | — |
| 每股收益（稀释后） | $0.16 | $0.02 |
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DOCTNET
| Q4 25 | $719.4M | $1.2B | ||
| Q3 25 | $705.9M | $1.2B | ||
| Q2 25 | $694.3M | $1.2B | ||
| Q1 25 | $702.9M | $1.3B | ||
| Q4 24 | $698.0M | $1.3B | ||
| Q3 24 | $700.4M | $1.2B | ||
| Q2 24 | $695.5M | $1.2B | ||
| Q1 24 | $606.6M | $1.3B |
净利润DOCTNET
| Q4 25 | $114.0M | — | ||
| Q3 25 | $-117.1M | $34.0M | ||
| Q2 25 | $31.7M | $37.0M | ||
| Q1 25 | $42.8M | $85.0M | ||
| Q4 24 | $4.5M | — | ||
| Q3 24 | $85.9M | $45.0M | ||
| Q2 24 | $146.0M | $60.0M | ||
| Q1 24 | $6.7M | $91.0M |
毛利率DOCTNET
| 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% | — | ||
| Q1 24 | 59.8% | — |
营业利润率DOCTNET
| Q4 25 | 17.4% | 0.1% | ||
| Q3 25 | 9.2% | 4.1% | ||
| Q2 25 | 5.7% | 4.1% | ||
| Q1 25 | 7.7% | 8.9% | ||
| Q4 24 | -2.2% | -2.9% | ||
| Q3 24 | 14.1% | 4.7% | ||
| Q2 24 | 22.3% | 6.5% | ||
| Q1 24 | 3.7% | 9.7% |
净利率DOCTNET
| Q4 25 | 73.2% | — | ||
| Q3 25 | -16.6% | 2.8% | ||
| Q2 25 | 4.6% | 3.0% | ||
| Q1 25 | 6.1% | 6.6% | ||
| Q4 24 | 0.7% | — | ||
| Q3 24 | 12.3% | 3.6% | ||
| Q2 24 | 21.0% | 4.9% | ||
| Q1 24 | 1.1% | 7.2% |
每股收益（稀释后）DOCTNET
| Q4 25 | $0.16 | $0.02 | ||
| Q3 25 | $-0.17 | $0.70 | ||
| Q2 25 | $0.05 | $0.77 | ||
| Q1 25 | $0.06 | $1.71 | ||
| Q4 24 | $0.02 | $-0.44 | ||
| Q3 24 | $0.12 | $0.89 | ||
| Q2 24 | $0.21 | $1.20 | ||
| Q1 24 | $0.01 | $1.78 |
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 | $287.0M |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $54.0M |
| 总资产 | $20.3B | $3.8B |
| 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DOCTNET
| Q4 25 | $467.5M | $287.0M | ||
| Q3 25 | $91.0M | $321.0M | ||
| Q2 25 | $89.4M | $407.0M | ||
| Q1 25 | $70.6M | $349.0M | ||
| Q4 24 | $119.8M | $360.0M | ||
| Q3 24 | $180.4M | $301.0M | ||
| Q2 24 | $106.9M | $249.0M | ||
| Q1 24 | $101.8M | $383.0M |
总债务DOCTNET
| 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DOCTNET
| Q4 25 | $7.5B | $54.0M | ||
| Q3 25 | $7.6B | $110.0M | ||
| Q2 25 | $7.9B | $107.0M | ||
| Q1 25 | $8.2B | $63.0M | ||
| Q4 24 | $8.4B | $69.0M | ||
| Q3 24 | $8.6B | $129.0M | ||
| Q2 24 | $8.8B | $100.0M | ||
| Q1 24 | $8.9B | $143.0M |
总资产DOCTNET
| Q4 25 | $20.3B | $3.8B | ||
| Q3 25 | $19.6B | $3.4B | ||
| Q2 25 | $19.8B | $3.7B | ||
| Q1 25 | $19.8B | $3.8B | ||
| Q4 24 | $19.9B | $4.1B | ||
| Q3 24 | $20.0B | $3.7B | ||
| Q2 24 | $20.2B | $3.7B | ||
| Q1 24 | $20.5B | $4.0B |
负债/权益比DOCTNET
| 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 | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $43.0M |
| 自由现金流率自由现金流/营收 | 49.6% | 3.4% |
| 资本支出强度资本支出/营收 | 124.4% | 1.4% |
| 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 | — | $234.0M |
8季度趋势，按日历期对齐
经营现金流DOCTNET
| Q4 25 | $1.3B | $61.0M | ||
| Q3 25 | $315.0M | $72.0M | ||
| Q2 25 | $363.5M | $75.0M | ||
| Q1 25 | $279.4M | $95.0M | ||
| Q4 24 | $1.1B | $65.0M | ||
| Q3 24 | $318.2M | $84.0M | ||
| Q2 24 | $316.2M | $39.0M | ||
| Q1 24 | $152.6M | $91.0M |
自由现金流DOCTNET
| Q4 25 | $357.0M | $43.0M | ||
| Q3 25 | — | $55.0M | ||
| Q2 25 | — | $57.0M | ||
| Q1 25 | — | $79.0M | ||
| Q4 24 | $333.7M | $47.0M | ||
| Q3 24 | — | $59.0M | ||
| Q2 24 | — | $22.0M | ||
| Q1 24 | — | $73.0M |
自由现金流率DOCTNET
| Q4 25 | 49.6% | 3.4% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | 47.8% | 3.7% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 1.8% | ||
| Q1 24 | — | 5.8% |
资本支出强度DOCTNET
| Q4 25 | 124.4% | 1.4% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | 105.6% | 1.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 1.4% |
现金转化率DOCTNET
| Q4 25 | 10.99× | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | 11.48× | 2.03× | ||
| Q1 25 | 6.52× | 1.12× | ||
| Q4 24 | 235.43× | — | ||
| Q3 24 | 3.71× | 1.87× | ||
| Q2 24 | 2.17× | 0.65× | ||
| Q1 24 | 22.85× | 1.00× |
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
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
