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Healthpeak Properties（DOC）与UNITED THERAPEUTICS Corp（UTHR）财务数据对比。点击上方公司名可切换其他公司
UNITED THERAPEUTICS Corp的季度营收约是Healthpeak Properties的1.1倍（$790.2M vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 46.1%，领先27.1%），UNITED THERAPEUTICS Corp同比增速更快（7.4% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $173.3M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs 8.0%）
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。
United Therapeutics是美国生物技术企业，专注开发包含异种移植在内的器官移植相关药物与技术，多款产品布局肺部疾病及器官制造赛道，双总部位于马里兰州银泉与北卡罗来纳州三角研究园，在美加多地设有研发及运营分支机构。
DOC vs UTHR — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $790.2M |
| 净利润 | $114.0M | $364.3M |
| 毛利率 | — | 86.9% |
| 营业利润率 | 17.4% | 45.1% |
| 净利率 | 73.2% | 46.1% |
| 营收同比 | 3.1% | 7.4% |
| 净利润同比 | 2406.4% | 20.9% |
| 每股收益（稀释后） | $0.16 | $7.66 |
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
| Q4 25 | $719.4M | $790.2M | ||
| Q3 25 | $705.9M | $799.5M | ||
| Q2 25 | $694.3M | $798.6M | ||
| Q1 25 | $702.9M | $794.4M | ||
| Q4 24 | $698.0M | $735.9M | ||
| Q3 24 | $700.4M | $748.9M | ||
| Q2 24 | $695.5M | $714.9M | ||
| Q1 24 | $606.6M | $677.7M |
| Q4 25 | $114.0M | $364.3M | ||
| Q3 25 | $-117.1M | $338.7M | ||
| Q2 25 | $31.7M | $309.5M | ||
| Q1 25 | $42.8M | $322.2M | ||
| Q4 24 | $4.5M | $301.3M | ||
| Q3 24 | $85.9M | $309.1M | ||
| Q2 24 | $146.0M | $278.1M | ||
| Q1 24 | $6.7M | $306.6M |
| Q4 25 | — | 86.9% | ||
| Q3 25 | 58.6% | 87.4% | ||
| Q2 25 | 60.2% | 89.0% | ||
| Q1 25 | 61.1% | 88.4% | ||
| Q4 24 | 60.3% | 89.7% | ||
| Q3 24 | 60.0% | 88.9% | ||
| Q2 24 | 60.6% | 89.1% | ||
| Q1 24 | 59.8% | 89.2% |
| Q4 25 | 17.4% | 45.1% | ||
| Q3 25 | 9.2% | 48.6% | ||
| Q2 25 | 5.7% | 45.6% | ||
| Q1 25 | 7.7% | 48.2% | ||
| Q4 24 | -2.2% | 48.6% | ||
| Q3 24 | 14.1% | 45.8% | ||
| Q2 24 | 22.3% | 44.7% | ||
| Q1 24 | 3.7% | 52.6% |
| Q4 25 | 73.2% | 46.1% | ||
| Q3 25 | -16.6% | 42.4% | ||
| Q2 25 | 4.6% | 38.8% | ||
| Q1 25 | 6.1% | 40.6% | ||
| Q4 24 | 0.7% | 40.9% | ||
| Q3 24 | 12.3% | 41.3% | ||
| Q2 24 | 21.0% | 38.9% | ||
| Q1 24 | 1.1% | 45.2% |
| Q4 25 | $0.16 | $7.66 | ||
| Q3 25 | $-0.17 | $7.16 | ||
| Q2 25 | $0.05 | $6.41 | ||
| Q1 25 | $0.06 | $6.63 | ||
| Q4 24 | $0.02 | $6.23 | ||
| Q3 24 | $0.12 | $6.39 | ||
| Q2 24 | $0.21 | $5.85 | ||
| Q1 24 | $0.01 | $6.17 |
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 | $2.9B |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $7.1B |
| 总资产 | $20.3B | $7.9B |
| 负债/权益比越低杠杆越低 | 1.31× | — |
8季度趋势，按日历期对齐
| Q4 25 | $467.5M | $2.9B | ||
| Q3 25 | $91.0M | $2.8B | ||
| Q2 25 | $89.4M | $3.0B | ||
| Q1 25 | $70.6M | $3.3B | ||
| Q4 24 | $119.8M | $3.3B | ||
| Q3 24 | $180.4M | $3.3B | ||
| Q2 24 | $106.9M | $3.0B | ||
| Q1 24 | $101.8M | $2.7B |
| 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 | — |
| Q4 25 | $7.5B | $7.1B | ||
| Q3 25 | $7.6B | $6.6B | ||
| Q2 25 | $7.9B | $7.2B | ||
| Q1 25 | $8.2B | $6.8B | ||
| Q4 24 | $8.4B | $6.4B | ||
| Q3 24 | $8.6B | $6.1B | ||
| Q2 24 | $8.8B | $5.7B | ||
| Q1 24 | $8.9B | $5.3B |
| Q4 25 | $20.3B | $7.9B | ||
| Q3 25 | $19.6B | $7.4B | ||
| Q2 25 | $19.8B | $7.9B | ||
| Q1 25 | $19.8B | $7.7B | ||
| Q4 24 | $19.9B | $7.4B | ||
| Q3 24 | $20.0B | $7.1B | ||
| Q2 24 | $20.2B | $6.7B | ||
| Q1 24 | $20.5B | $6.5B |
| 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 | $346.2M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $173.3M |
| 自由现金流率自由现金流/营收 | 49.6% | 21.9% |
| 资本支出强度资本支出/营收 | 124.4% | 21.9% |
| 现金转化率经营现金流/净利润 | 10.99× | 0.95× |
| 过去12个月自由现金流最近4个季度 | — | $1.0B |
8季度趋势，按日历期对齐
| Q4 25 | $1.3B | $346.2M | ||
| Q3 25 | $315.0M | $562.1M | ||
| Q2 25 | $363.5M | $191.7M | ||
| Q1 25 | $279.4M | $461.2M | ||
| Q4 24 | $1.1B | $341.2M | ||
| Q3 24 | $318.2M | $377.2M | ||
| Q2 24 | $316.2M | $232.2M | ||
| Q1 24 | $152.6M | $376.5M |
| Q4 25 | $357.0M | $173.3M | ||
| Q3 25 | — | $351.6M | ||
| Q2 25 | — | $129.5M | ||
| Q1 25 | — | $386.3M | ||
| Q4 24 | $333.7M | $254.5M | ||
| Q3 24 | — | $300.7M | ||
| Q2 24 | — | $187.1M | ||
| Q1 24 | — | $338.3M |
| Q4 25 | 49.6% | 21.9% | ||
| Q3 25 | — | 44.0% | ||
| Q2 25 | — | 16.2% | ||
| Q1 25 | — | 48.6% | ||
| Q4 24 | 47.8% | 34.6% | ||
| Q3 24 | — | 40.2% | ||
| Q2 24 | — | 26.2% | ||
| Q1 24 | — | 49.9% |
| Q4 25 | 124.4% | 21.9% | ||
| Q3 25 | — | 26.3% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 9.4% | ||
| Q4 24 | 105.6% | 11.8% | ||
| Q3 24 | — | 10.2% | ||
| Q2 24 | — | 6.3% | ||
| Q1 24 | — | 5.6% |
| Q4 25 | 10.99× | 0.95× | ||
| Q3 25 | — | 1.66× | ||
| Q2 25 | 11.48× | 0.62× | ||
| Q1 25 | 6.52× | 1.43× | ||
| Q4 24 | 235.43× | 1.13× | ||
| Q3 24 | 3.71× | 1.22× | ||
| Q2 24 | 2.17× | 0.83× | ||
| Q1 24 | 22.85× | 1.23× |
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
UTHR
| Tyvaso DPI | $338.6M | 43% |
| Remodulin | $128.0M | 16% |
| Nebulized Tyvaso | $125.7M | 16% |
| Orenitram | $121.2M | 15% |
| Unituxin | $62.3M | 8% |
| Adcirca | $7.8M | 1% |
| Other | $6.6M | 1% |
