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Healthpeak Properties（DOC）与Tyler Technologies（TYL）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Tyler Technologies的1.2倍（$719.4M vs $613.5M），Healthpeak Properties净利率更高（73.2% vs 13.2%，领先59.9%），Tyler Technologies同比增速更快（8.6% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $2.0M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs 6.5%）
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。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
DOC vs TYL — 直观对比
营收规模更大
DOC
是对方的1.2倍
$613.5M
营收增速更快
TYL
高出5.5%
3.1%
净利率更高
DOC
高出59.9%
13.2%
自由现金流更多
DOC
多$355.0M
$2.0M
两年增速更快
DOC
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $613.5M |
| 净利润 | $114.0M | $81.2M |
| 毛利率 | — | 48.3% |
| 营业利润率 | 17.4% | 16.3% |
| 净利率 | 73.2% | 13.2% |
| 营收同比 | 3.1% | 8.6% |
| 净利润同比 | 2406.4% | — |
| 每股收益（稀释后） | $0.16 | $1.88 |
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DOCTYL
| Q1 26 | — | $613.5M | ||
| Q4 25 | $719.4M | $575.2M | ||
| Q3 25 | $705.9M | $595.9M | ||
| Q2 25 | $694.3M | $596.1M | ||
| Q1 25 | $702.9M | $565.2M | ||
| Q4 24 | $698.0M | $541.1M | ||
| Q3 24 | $700.4M | $543.3M | ||
| Q2 24 | $695.5M | $541.0M |
净利润DOCTYL
| Q1 26 | — | $81.2M | ||
| Q4 25 | $114.0M | $65.5M | ||
| Q3 25 | $-117.1M | $84.4M | ||
| Q2 25 | $31.7M | $84.6M | ||
| Q1 25 | $42.8M | $81.1M | ||
| Q4 24 | $4.5M | $65.2M | ||
| Q3 24 | $85.9M | $75.9M | ||
| Q2 24 | $146.0M | $67.7M |
毛利率DOCTYL
| Q1 26 | — | 48.3% | ||
| Q4 25 | — | 45.5% | ||
| Q3 25 | 58.6% | 47.2% | ||
| Q2 25 | 60.2% | 45.8% | ||
| Q1 25 | 61.1% | 47.3% | ||
| Q4 24 | 60.3% | 43.8% | ||
| Q3 24 | 60.0% | 43.7% | ||
| Q2 24 | 60.6% | 44.0% |
营业利润率DOCTYL
| Q1 26 | — | 16.3% | ||
| Q4 25 | 17.4% | 13.0% | ||
| Q3 25 | 9.2% | 16.4% | ||
| Q2 25 | 5.7% | 16.0% | ||
| Q1 25 | 7.7% | 15.8% | ||
| Q4 24 | -2.2% | 13.2% | ||
| Q3 24 | 14.1% | 15.2% | ||
| Q2 24 | 22.3% | 14.4% |
净利率DOCTYL
| Q1 26 | — | 13.2% | ||
| Q4 25 | 73.2% | 11.4% | ||
| Q3 25 | -16.6% | 14.2% | ||
| Q2 25 | 4.6% | 14.2% | ||
| Q1 25 | 6.1% | 14.3% | ||
| Q4 24 | 0.7% | 12.1% | ||
| Q3 24 | 12.3% | 14.0% | ||
| Q2 24 | 21.0% | 12.5% |
每股收益（稀释后）DOCTYL
| Q1 26 | — | $1.88 | ||
| Q4 25 | $0.16 | $1.50 | ||
| Q3 25 | $-0.17 | $1.93 | ||
| Q2 25 | $0.05 | $1.93 | ||
| Q1 25 | $0.06 | $1.84 | ||
| Q4 24 | $0.02 | $1.48 | ||
| Q3 24 | $0.12 | $1.74 | ||
| Q2 24 | $0.21 | $1.57 |
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 | $346.4M |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $3.6B |
| 总资产 | $20.3B | $4.8B |
| 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DOCTYL
| Q1 26 | — | $346.4M | ||
| Q4 25 | $467.5M | $1.1B | ||
| Q3 25 | $91.0M | $950.8M | ||
| Q2 25 | $89.4M | $892.3M | ||
| Q1 25 | $70.6M | $807.4M | ||
| Q4 24 | $119.8M | $768.0M | ||
| Q3 24 | $180.4M | $544.3M | ||
| Q2 24 | $106.9M | $258.0M |
总债务DOCTYL
| Q1 26 | — | — | ||
| Q4 25 | $9.8B | $599.7M | ||
| Q3 25 | $9.1B | $599.2M | ||
| Q2 25 | $9.0B | $598.8M | ||
| Q1 25 | $8.9B | $598.4M | ||
| Q4 24 | $8.7B | $597.9M | ||
| Q3 24 | $8.6B | $597.5M | ||
| Q2 24 | $8.6B | $597.1M |
股东权益DOCTYL
| Q1 26 | — | $3.6B | ||
| Q4 25 | $7.5B | $3.7B | ||
| Q3 25 | $7.6B | $3.6B | ||
| Q2 25 | $7.9B | $3.6B | ||
| Q1 25 | $8.2B | $3.5B | ||
| Q4 24 | $8.4B | $3.4B | ||
| Q3 24 | $8.6B | $3.3B | ||
| Q2 24 | $8.8B | $3.1B |
总资产DOCTYL
| Q1 26 | — | $4.8B | ||
| Q4 25 | $20.3B | $5.6B | ||
| Q3 25 | $19.6B | $5.5B | ||
| Q2 25 | $19.8B | $5.4B | ||
| Q1 25 | $19.8B | $5.2B | ||
| Q4 24 | $19.9B | $5.2B | ||
| Q3 24 | $20.0B | $5.0B | ||
| Q2 24 | $20.2B | $4.8B |
负债/权益比DOCTYL
| Q1 26 | — | — | ||
| Q4 25 | 1.31× | 0.16× | ||
| Q3 25 | 1.20× | 0.17× | ||
| Q2 25 | 1.14× | 0.16× | ||
| Q1 25 | 1.08× | 0.17× | ||
| Q4 24 | 1.04× | 0.18× | ||
| Q3 24 | 1.00× | 0.18× | ||
| Q2 24 | 0.98× | 0.19× |
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 | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $2.0M |
| 自由现金流率自由现金流/营收 | 49.6% | 0.3% |
| 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× | 1.32× |
| 过去12个月自由现金流最近4个季度 | — | $585.7M |
8季度趋势，按日历期对齐
经营现金流DOCTYL
| Q1 26 | — | $107.3M | ||
| Q4 25 | $1.3B | $243.9M | ||
| Q3 25 | $315.0M | $255.2M | ||
| Q2 25 | $363.5M | $98.3M | ||
| Q1 25 | $279.4M | $56.2M | ||
| Q4 24 | $1.1B | $224.8M | ||
| Q3 24 | $318.2M | $263.7M | ||
| Q2 24 | $316.2M | $64.3M |
自由现金流DOCTYL
| Q1 26 | — | $2.0M | ||
| Q4 25 | $357.0M | $239.6M | ||
| Q3 25 | — | $251.3M | ||
| Q2 25 | — | $92.8M | ||
| Q1 25 | — | $53.8M | ||
| Q4 24 | $333.7M | $221.0M | ||
| Q3 24 | — | $260.8M | ||
| Q2 24 | — | $57.7M |
自由现金流率DOCTYL
| Q1 26 | — | 0.3% | ||
| Q4 25 | 49.6% | 41.7% | ||
| Q3 25 | — | 42.2% | ||
| Q2 25 | — | 15.6% | ||
| Q1 25 | — | 9.5% | ||
| Q4 24 | 47.8% | 40.8% | ||
| Q3 24 | — | 48.0% | ||
| Q2 24 | — | 10.7% |
资本支出强度DOCTYL
| Q1 26 | — | — | ||
| Q4 25 | 124.4% | 0.8% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 105.6% | 0.7% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 1.2% |
现金转化率DOCTYL
| Q1 26 | — | 1.32× | ||
| Q4 25 | 10.99× | 3.72× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | 11.48× | 1.16× | ||
| Q1 25 | 6.52× | 0.69× | ||
| Q4 24 | 235.43× | 3.45× | ||
| Q3 24 | 3.71× | 3.47× | ||
| Q2 24 | 2.17× | 0.95× |
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
TYL
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
