vs
Healthpeak Properties（DOC）与盛思阳（TSE）财务数据对比。点击上方公司名可切换其他公司
Healthpeak Properties的季度营收约是盛思阳的1.1倍（$719.4M vs $662.6M），Healthpeak Properties净利率更高（73.2% vs -37.9%，领先111.1%），Healthpeak Properties同比增速更快（3.1% vs -19.3%），Healthpeak Properties自由现金流更多（$357.0M vs $6.6M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs -14.4%）
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。
盛思阳（Trinseo）是一家专注于塑料与乳胶粘合剂生产的材料企业。该公司原隶属于陶氏化学公司，2009年陶氏将其分拆待售，2010年相关资产以斯泰隆（Styron）之名作价16.3亿美元出售给贝恩资本。2016年贝恩清仓全部持股， Trinseo自此成为完全独立的公众上市公司。
DOC vs TSE — 直观对比
营收规模更大
DOC
是对方的1.1倍
$662.6M
营收增速更快
DOC
高出22.4%
-19.3%
净利率更高
DOC
高出111.1%
-37.9%
自由现金流更多
DOC
多$350.4M
$6.6M
两年增速更快
DOC
近两年复合增速
-14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $662.6M |
| 净利润 | $114.0M | $-251.4M |
| 毛利率 | — | 4.2% |
| 营业利润率 | 17.4% | -24.7% |
| 净利率 | 73.2% | -37.9% |
| 营收同比 | 3.1% | -19.3% |
| 净利润同比 | 2406.4% | -113.2% |
| 每股收益（稀释后） | $0.16 | $-7.02 |
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DOCTSE
| Q4 25 | $719.4M | $662.6M | ||
| Q3 25 | $705.9M | $743.2M | ||
| Q2 25 | $694.3M | $784.3M | ||
| Q1 25 | $702.9M | $784.8M | ||
| Q4 24 | $698.0M | $821.5M | ||
| Q3 24 | $700.4M | $867.7M | ||
| Q2 24 | $695.5M | $920.0M | ||
| Q1 24 | $606.6M | $904.0M |
净利润DOCTSE
| Q4 25 | $114.0M | $-251.4M | ||
| Q3 25 | $-117.1M | $-109.7M | ||
| Q2 25 | $31.7M | $-105.5M | ||
| Q1 25 | $42.8M | $-79.0M | ||
| Q4 24 | $4.5M | $-117.9M | ||
| Q3 24 | $85.9M | $-87.3M | ||
| Q2 24 | $146.0M | $-67.8M | ||
| Q1 24 | $6.7M | $-75.5M |
毛利率DOCTSE
| Q4 25 | — | 4.2% | ||
| Q3 25 | 58.6% | 5.0% | ||
| Q2 25 | 60.2% | 4.7% | ||
| Q1 25 | 61.1% | 8.1% | ||
| Q4 24 | 60.3% | 6.8% | ||
| Q3 24 | 60.0% | 9.3% | ||
| Q2 24 | 60.6% | 7.4% | ||
| Q1 24 | 59.8% | 6.7% |
营业利润率DOCTSE
| Q4 25 | 17.4% | -24.7% | ||
| Q3 25 | 9.2% | -3.8% | ||
| Q2 25 | 5.7% | -4.2% | ||
| Q1 25 | 7.7% | -3.7% | ||
| Q4 24 | -2.2% | -5.4% | ||
| Q3 24 | 14.1% | -1.4% | ||
| Q2 24 | 22.3% | 1.5% | ||
| Q1 24 | 3.7% | -0.4% |
净利率DOCTSE
| Q4 25 | 73.2% | -37.9% | ||
| Q3 25 | -16.6% | -14.8% | ||
| Q2 25 | 4.6% | -13.5% | ||
| Q1 25 | 6.1% | -10.1% | ||
| Q4 24 | 0.7% | -14.4% | ||
| Q3 24 | 12.3% | -10.1% | ||
| Q2 24 | 21.0% | -7.4% | ||
| Q1 24 | 1.1% | -8.4% |
每股收益（稀释后）DOCTSE
| Q4 25 | $0.16 | $-7.02 | ||
| Q3 25 | $-0.17 | $-3.05 | ||
| Q2 25 | $0.05 | $-2.95 | ||
| Q1 25 | $0.06 | $-2.22 | ||
| Q4 24 | $0.02 | $-3.33 | ||
| Q3 24 | $0.12 | $-2.47 | ||
| Q2 24 | $0.21 | $-1.92 | ||
| Q1 24 | $0.01 | $-2.14 |
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 | $146.7M |
| 总债务越低越好 | $9.8B | $2.5B |
| 股东权益账面价值 | $7.5B | $-1.1B |
| 总资产 | $20.3B | $2.3B |
| 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DOCTSE
| Q4 25 | $467.5M | $146.7M | ||
| Q3 25 | $91.0M | $112.1M | ||
| Q2 25 | $89.4M | $137.0M | ||
| Q1 25 | $70.6M | $126.1M | ||
| Q4 24 | $119.8M | $209.8M | ||
| Q3 24 | $180.4M | $165.3M | ||
| Q2 24 | $106.9M | $105.6M | ||
| Q1 24 | $101.8M | $166.4M |
总债务DOCTSE
| Q4 25 | $9.8B | $2.5B | ||
| Q3 25 | $9.1B | $2.5B | ||
| Q2 25 | $9.0B | $2.5B | ||
| Q1 25 | $8.9B | $2.5B | ||
| Q4 24 | $8.7B | $2.4B | ||
| Q3 24 | $8.6B | $2.4B | ||
| Q2 24 | $8.6B | $2.3B | ||
| Q1 24 | $8.8B | $2.3B |
股东权益DOCTSE
| Q4 25 | $7.5B | $-1.1B | ||
| Q3 25 | $7.6B | $-861.6M | ||
| Q2 25 | $7.9B | $-750.3M | ||
| Q1 25 | $8.2B | $-679.2M | ||
| Q4 24 | $8.4B | $-619.9M | ||
| Q3 24 | $8.6B | $-480.0M | ||
| Q2 24 | $8.8B | $-413.8M | ||
| Q1 24 | $8.9B | $-348.0M |
总资产DOCTSE
| Q4 25 | $20.3B | $2.3B | ||
| Q3 25 | $19.6B | $2.5B | ||
| Q2 25 | $19.8B | $2.6B | ||
| Q1 25 | $19.8B | $2.7B | ||
| Q4 24 | $19.9B | $2.6B | ||
| Q3 24 | $20.0B | $2.9B | ||
| Q2 24 | $20.2B | $2.8B | ||
| Q1 24 | $20.5B | $3.0B |
负债/权益比DOCTSE
| 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 | $22.6M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $6.6M |
| 自由现金流率自由现金流/营收 | 49.6% | 1.0% |
| 资本支出强度资本支出/营收 | 124.4% | 2.4% |
| 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 | — | $-153.4M |
8季度趋势，按日历期对齐
经营现金流DOCTSE
| Q4 25 | $1.3B | $22.6M | ||
| Q3 25 | $315.0M | $-21.6M | ||
| Q2 25 | $363.5M | $6.8M | ||
| Q1 25 | $279.4M | $-110.2M | ||
| Q4 24 | $1.1B | $85.1M | ||
| Q3 24 | $318.2M | $8.8M | ||
| Q2 24 | $316.2M | $-41.9M | ||
| Q1 24 | $152.6M | $-66.2M |
自由现金流DOCTSE
| Q4 25 | $357.0M | $6.6M | ||
| Q3 25 | — | $-38.1M | ||
| Q2 25 | — | $-3.0M | ||
| Q1 25 | — | $-118.9M | ||
| Q4 24 | $333.7M | $63.9M | ||
| Q3 24 | — | $-3.4M | ||
| Q2 24 | — | $-56.1M | ||
| Q1 24 | — | $-81.9M |
自由现金流率DOCTSE
| Q4 25 | 49.6% | 1.0% | ||
| Q3 25 | — | -5.1% | ||
| Q2 25 | — | -0.4% | ||
| Q1 25 | — | -15.2% | ||
| Q4 24 | 47.8% | 7.8% | ||
| Q3 24 | — | -0.4% | ||
| Q2 24 | — | -6.1% | ||
| Q1 24 | — | -9.1% |
资本支出强度DOCTSE
| Q4 25 | 124.4% | 2.4% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | 105.6% | 2.6% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.7% |
现金转化率DOCTSE
| Q4 25 | 10.99× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 11.48× | — | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | 235.43× | — | ||
| Q3 24 | 3.71× | — | ||
| Q2 24 | 2.17× | — | ||
| Q1 24 | 22.85× | — |
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
TSE
| Other | $325.2M | 49% |
| Asia Pacific | $142.2M | 21% |
| Engineered Materials | $105.0M | 16% |
| Latex | $59.9M | 9% |
| Polymer Solutions | $30.3M | 5% |
