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Healthpeak Properties（DOC）与Travel & Leisure Co.（TNL）财务数据对比。点击上方公司名可切换其他公司
Travel & Leisure Co.的季度营收约是Healthpeak Properties的1.1倍（$798.0M vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 9.9%，领先63.3%），Travel & Leisure Co.同比增速更快（5.7% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $0），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs -10.0%）
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。
Travel + Leisure Co.是一家总部位于美国佛罗里达州奥兰多的分时度假企业，旗下运营温德姆俱乐部、温德姆WorldMark、玛格丽塔维尔度假俱乐部、雅高度假俱乐部等多个度假所有权品牌，开发、销售并管理分时度假物业，同时主要通过RCI提供分时度假交换服务，还运营Travel + Leisure GO等旅行俱乐部。
DOC vs TNL — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $798.0M |
| 净利润 | $114.0M | $79.0M |
| 毛利率 | — | — |
| 营业利润率 | 17.4% | 19.9% |
| 净利率 | 73.2% | 9.9% |
| 营收同比 | 3.1% | 5.7% |
| 净利润同比 | 2406.4% | 8.2% |
| 每股收益（稀释后） | $0.16 | $1.22 |
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
| Q1 26 | — | $798.0M | ||
| Q4 25 | $719.4M | $1.0B | ||
| Q3 25 | $705.9M | $1.0B | ||
| Q2 25 | $694.3M | $1.0B | ||
| Q1 25 | $702.9M | $934.0M | ||
| Q4 24 | $698.0M | $970.0M | ||
| Q3 24 | $700.4M | $993.0M | ||
| Q2 24 | $695.5M | $985.0M |
| Q1 26 | — | $79.0M | ||
| Q4 25 | $114.0M | $-62.0M | ||
| Q3 25 | $-117.1M | $111.0M | ||
| Q2 25 | $31.7M | $108.0M | ||
| Q1 25 | $42.8M | $73.0M | ||
| Q4 24 | $4.5M | $119.0M | ||
| Q3 24 | $85.9M | $97.0M | ||
| Q2 24 | $146.0M | $129.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 78.9% | ||
| Q3 25 | 58.6% | 98.8% | ||
| Q2 25 | 60.2% | 97.9% | ||
| Q1 25 | 61.1% | 97.5% | ||
| Q4 24 | 60.3% | 99.0% | ||
| Q3 24 | 60.0% | 97.3% | ||
| Q2 24 | 60.6% | 97.9% |
| Q1 26 | — | 19.9% | ||
| Q4 25 | 17.4% | -2.2% | ||
| Q3 25 | 9.2% | 20.5% | ||
| Q2 25 | 5.7% | 20.2% | ||
| Q1 25 | 7.7% | 16.7% | ||
| Q4 24 | -2.2% | 21.1% | ||
| Q3 24 | 14.1% | 19.0% | ||
| Q2 24 | 22.3% | 19.2% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | 73.2% | -6.0% | ||
| Q3 25 | -16.6% | 10.6% | ||
| Q2 25 | 4.6% | 10.6% | ||
| Q1 25 | 6.1% | 7.8% | ||
| Q4 24 | 0.7% | 12.3% | ||
| Q3 24 | 12.3% | 9.8% | ||
| Q2 24 | 21.0% | 13.1% |
| Q1 26 | — | $1.22 | ||
| Q4 25 | $0.16 | $-0.92 | ||
| Q3 25 | $-0.17 | $1.67 | ||
| Q2 25 | $0.05 | $1.62 | ||
| Q1 25 | $0.06 | $1.07 | ||
| Q4 24 | $0.02 | $1.70 | ||
| Q3 24 | $0.12 | $1.39 | ||
| Q2 24 | $0.21 | $1.81 |
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 | $254.0M |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | — |
| 总资产 | $20.3B | $6.8B |
| 负债/权益比越低杠杆越低 | 1.31× | — |
8季度趋势，按日历期对齐
| Q1 26 | — | $254.0M | ||
| Q4 25 | $467.5M | $271.0M | ||
| Q3 25 | $91.0M | $240.0M | ||
| Q2 25 | $89.4M | $212.0M | ||
| Q1 25 | $70.6M | $188.0M | ||
| Q4 24 | $119.8M | $185.0M | ||
| Q3 24 | $180.4M | $194.0M | ||
| Q2 24 | $106.9M | $166.0M |
| Q1 26 | — | — | ||
| Q4 25 | $9.8B | $5.6B | ||
| Q3 25 | $9.1B | $5.6B | ||
| Q2 25 | $9.0B | $5.6B | ||
| Q1 25 | $8.9B | $5.7B | ||
| Q4 24 | $8.7B | $5.6B | ||
| Q3 24 | $8.6B | $5.6B | ||
| Q2 24 | $8.6B | $5.6B |
| Q1 26 | — | — | ||
| Q4 25 | $7.5B | $-981.0M | ||
| Q3 25 | $7.6B | $-821.0M | ||
| Q2 25 | $7.9B | $-852.0M | ||
| Q1 25 | $8.2B | $-903.0M | ||
| Q4 24 | $8.4B | $-881.0M | ||
| Q3 24 | $8.6B | $-862.0M | ||
| Q2 24 | $8.8B | $-885.0M |
| Q1 26 | — | $6.8B | ||
| Q4 25 | $20.3B | $6.8B | ||
| Q3 25 | $19.6B | $6.9B | ||
| Q2 25 | $19.8B | $6.8B | ||
| Q1 25 | $19.8B | $6.8B | ||
| Q4 24 | $19.9B | $6.7B | ||
| Q3 24 | $20.0B | $6.7B | ||
| Q2 24 | $20.2B | $6.7B |
| 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 | $38.0M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $0 |
| 自由现金流率自由现金流/营收 | 49.6% | 0.0% |
| 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× | 0.48× |
| 过去12个月自由现金流最近4个季度 | — | $423.0M |
8季度趋势，按日历期对齐
| Q1 26 | — | $38.0M | ||
| Q4 25 | $1.3B | $124.0M | ||
| Q3 25 | $315.0M | $163.0M | ||
| Q2 25 | $363.5M | $232.0M | ||
| Q1 25 | $279.4M | $121.0M | ||
| Q4 24 | $1.1B | $98.0M | ||
| Q3 24 | $318.2M | $145.0M | ||
| Q2 24 | $316.2M | $174.0M |
| Q1 26 | — | $0 | ||
| Q4 25 | $357.0M | $92.0M | ||
| Q3 25 | — | $136.0M | ||
| Q2 25 | — | $195.0M | ||
| Q1 25 | — | $100.0M | ||
| Q4 24 | $333.7M | $75.0M | ||
| Q3 24 | — | $125.0M | ||
| Q2 24 | — | $153.0M |
| Q1 26 | — | 0.0% | ||
| Q4 25 | 49.6% | 9.0% | ||
| Q3 25 | — | 13.0% | ||
| Q2 25 | — | 19.2% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | 47.8% | 7.7% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | — | 15.5% |
| Q1 26 | — | — | ||
| Q4 25 | 124.4% | 3.1% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | 105.6% | 2.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 2.1% |
| Q1 26 | — | 0.48× | ||
| Q4 25 | 10.99× | — | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | 11.48× | 2.15× | ||
| Q1 25 | 6.52× | 1.66× | ||
| Q4 24 | 235.43× | 0.82× | ||
| Q3 24 | 3.71× | 1.49× | ||
| Q2 24 | 2.17× | 1.35× |
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
TNL
| Service and membership fees | $396.0M | 50% |
| Other | $289.0M | 36% |
| Consumer financing | $113.0M | 14% |
