vs
Healthpeak Properties（DOC）与Trade Desk (The)（TTD）财务数据对比。点击上方公司名可切换其他公司
Trade Desk (The)的季度营收约是Healthpeak Properties的1.2倍（$846.8M vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 22.1%，领先51.1%），Trade Desk (The)同比增速更快（14.3% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $285.3M），过去两年Trade Desk (The)的营收复合增速更高（31.3% vs 8.9%）
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。
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
DOC vs TTD — 直观对比
营收规模更大
TTD
是对方的1.2倍
$719.4M
营收增速更快
TTD
高出11.2%
3.1%
净利率更高
DOC
高出51.1%
22.1%
自由现金流更多
DOC
多$71.7M
$285.3M
两年增速更快
TTD
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $846.8M |
| 净利润 | $114.0M | $186.9M |
| 毛利率 | — | 80.7% |
| 营业利润率 | 17.4% | 30.3% |
| 净利率 | 73.2% | 22.1% |
| 营收同比 | 3.1% | 14.3% |
| 净利润同比 | 2406.4% | 2.6% |
| 每股收益（稀释后） | $0.16 | $0.39 |
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DOCTTD
| Q4 25 | $719.4M | $846.8M | ||
| Q3 25 | $705.9M | $739.4M | ||
| Q2 25 | $694.3M | $694.0M | ||
| Q1 25 | $702.9M | $616.0M | ||
| Q4 24 | $698.0M | $741.0M | ||
| Q3 24 | $700.4M | $628.0M | ||
| Q2 24 | $695.5M | $584.5M | ||
| Q1 24 | $606.6M | $491.3M |
净利润DOCTTD
| Q4 25 | $114.0M | $186.9M | ||
| Q3 25 | $-117.1M | $115.5M | ||
| Q2 25 | $31.7M | $90.1M | ||
| Q1 25 | $42.8M | $50.7M | ||
| Q4 24 | $4.5M | $182.2M | ||
| Q3 24 | $85.9M | $94.2M | ||
| Q2 24 | $146.0M | $85.0M | ||
| Q1 24 | $6.7M | $31.7M |
毛利率DOCTTD
| Q4 25 | — | 80.7% | ||
| Q3 25 | 58.6% | 78.1% | ||
| Q2 25 | 60.2% | 78.2% | ||
| Q1 25 | 61.1% | 76.8% | ||
| Q4 24 | 60.3% | 81.7% | ||
| Q3 24 | 60.0% | 80.5% | ||
| Q2 24 | 60.6% | 81.1% | ||
| Q1 24 | 59.8% | 78.9% |
营业利润率DOCTTD
| Q4 25 | 17.4% | 30.3% | ||
| Q3 25 | 9.2% | 21.8% | ||
| Q2 25 | 5.7% | 16.8% | ||
| Q1 25 | 7.7% | 8.8% | ||
| Q4 24 | -2.2% | 26.4% | ||
| Q3 24 | 14.1% | 17.3% | ||
| Q2 24 | 22.3% | 16.2% | ||
| Q1 24 | 3.7% | 5.8% |
净利率DOCTTD
| Q4 25 | 73.2% | 22.1% | ||
| Q3 25 | -16.6% | 15.6% | ||
| Q2 25 | 4.6% | 13.0% | ||
| Q1 25 | 6.1% | 8.2% | ||
| Q4 24 | 0.7% | 24.6% | ||
| Q3 24 | 12.3% | 15.0% | ||
| Q2 24 | 21.0% | 14.5% | ||
| Q1 24 | 1.1% | 6.4% |
每股收益（稀释后）DOCTTD
| Q4 25 | $0.16 | $0.39 | ||
| Q3 25 | $-0.17 | $0.23 | ||
| Q2 25 | $0.05 | $0.18 | ||
| Q1 25 | $0.06 | $0.10 | ||
| Q4 24 | $0.02 | $0.36 | ||
| Q3 24 | $0.12 | $0.19 | ||
| Q2 24 | $0.21 | $0.17 | ||
| Q1 24 | $0.01 | $0.06 |
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 | $1.3B |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $2.5B |
| 总资产 | $20.3B | $6.2B |
| 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DOCTTD
| Q4 25 | $467.5M | $1.3B | ||
| Q3 25 | $91.0M | $1.4B | ||
| Q2 25 | $89.4M | $1.7B | ||
| Q1 25 | $70.6M | $1.7B | ||
| Q4 24 | $119.8M | $1.9B | ||
| Q3 24 | $180.4M | $1.7B | ||
| Q2 24 | $106.9M | $1.5B | ||
| Q1 24 | $101.8M | $1.4B |
总债务DOCTTD
| 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DOCTTD
| Q4 25 | $7.5B | $2.5B | ||
| Q3 25 | $7.6B | $2.6B | ||
| Q2 25 | $7.9B | $2.7B | ||
| Q1 25 | $8.2B | $2.7B | ||
| Q4 24 | $8.4B | $2.9B | ||
| Q3 24 | $8.6B | $2.6B | ||
| Q2 24 | $8.8B | $2.4B | ||
| Q1 24 | $8.9B | $2.2B |
总资产DOCTTD
| Q4 25 | $20.3B | $6.2B | ||
| Q3 25 | $19.6B | $5.9B | ||
| Q2 25 | $19.8B | $6.0B | ||
| Q1 25 | $19.8B | $5.7B | ||
| Q4 24 | $19.9B | $6.1B | ||
| Q3 24 | $20.0B | $5.5B | ||
| Q2 24 | $20.2B | $5.2B | ||
| Q1 24 | $20.5B | $4.7B |
负债/权益比DOCTTD
| 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 | $311.6M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $285.3M |
| 自由现金流率自由现金流/营收 | 49.6% | 33.7% |
| 资本支出强度资本支出/营收 | 124.4% | 3.1% |
| 现金转化率经营现金流/净利润 | 10.99× | 1.67× |
| 过去12个月自由现金流最近4个季度 | — | $795.7M |
8季度趋势，按日历期对齐
经营现金流DOCTTD
| Q4 25 | $1.3B | $311.6M | ||
| Q3 25 | $315.0M | $224.7M | ||
| Q2 25 | $363.5M | $165.0M | ||
| Q1 25 | $279.4M | $291.4M | ||
| Q4 24 | $1.1B | $199.4M | ||
| Q3 24 | $318.2M | $273.3M | ||
| Q2 24 | $316.2M | $81.3M | ||
| Q1 24 | $152.6M | $185.5M |
自由现金流DOCTTD
| Q4 25 | $357.0M | $285.3M | ||
| Q3 25 | — | $158.3M | ||
| Q2 25 | — | $119.8M | ||
| Q1 25 | — | $232.3M | ||
| Q4 24 | $333.7M | $179.2M | ||
| Q3 24 | — | $224.6M | ||
| Q2 24 | — | $59.1M | ||
| Q1 24 | — | $178.2M |
自由现金流率DOCTTD
| Q4 25 | 49.6% | 33.7% | ||
| Q3 25 | — | 21.4% | ||
| Q2 25 | — | 17.3% | ||
| Q1 25 | — | 37.7% | ||
| Q4 24 | 47.8% | 24.2% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 10.1% | ||
| Q1 24 | — | 36.3% |
资本支出强度DOCTTD
| Q4 25 | 124.4% | 3.1% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | — | 9.6% | ||
| Q4 24 | 105.6% | 2.7% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | — | 1.5% |
现金转化率DOCTTD
| Q4 25 | 10.99× | 1.67× | ||
| Q3 25 | — | 1.94× | ||
| Q2 25 | 11.48× | 1.83× | ||
| Q1 25 | 6.52× | 5.75× | ||
| Q4 24 | 235.43× | 1.09× | ||
| Q3 24 | 3.71× | 2.90× | ||
| Q2 24 | 2.17× | 0.96× | ||
| Q1 24 | 22.85× | 5.86× |
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
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
