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Healthpeak Properties（DOC）与INNOVATE Corp.（VATE）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INNOVATE Corp.的1.9倍（$719.4M vs $382.7M），Healthpeak Properties净利率更高（73.2% vs -1.9%，领先75.1%），INNOVATE Corp.同比增速更快（61.7% vs 3.1%），过去两年INNOVATE Corp.的营收复合增速更高（10.2% 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。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
DOC vs VATE — 直观对比
营收规模更大
DOC
是对方的1.9倍
$382.7M
营收增速更快
VATE
高出58.7%
3.1%
净利率更高
DOC
高出75.1%
-1.9%
两年增速更快
VATE
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $382.7M |
| 净利润 | $114.0M | $-7.4M |
| 毛利率 | — | 15.4% |
| 营业利润率 | 17.4% | 3.7% |
| 净利率 | 73.2% | -1.9% |
| 营收同比 | 3.1% | 61.7% |
| 净利润同比 | 2406.4% | 55.4% |
| 每股收益（稀释后） | $0.16 | $-0.57 |
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DOCVATE
| Q4 25 | $719.4M | $382.7M | ||
| Q3 25 | $705.9M | $347.1M | ||
| Q2 25 | $694.3M | $242.0M | ||
| Q1 25 | $702.9M | $274.2M | ||
| Q4 24 | $698.0M | $236.6M | ||
| Q3 24 | $700.4M | $242.2M | ||
| Q2 24 | $695.5M | $313.1M | ||
| Q1 24 | $606.6M | $315.2M |
净利润DOCVATE
| Q4 25 | $114.0M | $-7.4M | ||
| Q3 25 | $-117.1M | $-8.9M | ||
| Q2 25 | $31.7M | $-19.8M | ||
| Q1 25 | $42.8M | $-24.5M | ||
| Q4 24 | $4.5M | $-16.6M | ||
| Q3 24 | $85.9M | $-15.0M | ||
| Q2 24 | $146.0M | $14.4M | ||
| Q1 24 | $6.7M | $-17.4M |
毛利率DOCVATE
| Q4 25 | — | 15.4% | ||
| Q3 25 | 58.6% | 14.3% | ||
| Q2 25 | 60.2% | 18.8% | ||
| Q1 25 | 61.1% | 16.6% | ||
| Q4 24 | 60.3% | 19.6% | ||
| Q3 24 | 60.0% | 19.9% | ||
| Q2 24 | 60.6% | 21.0% | ||
| Q1 24 | 59.8% | 15.4% |
营业利润率DOCVATE
| Q4 25 | 17.4% | 3.7% | ||
| Q3 25 | 9.2% | 1.8% | ||
| Q2 25 | 5.7% | 2.0% | ||
| Q1 25 | 7.7% | 1.2% | ||
| Q4 24 | -2.2% | 1.1% | ||
| Q3 24 | 14.1% | 2.4% | ||
| Q2 24 | 22.3% | 9.2% | ||
| Q1 24 | 3.7% | 0.9% |
净利率DOCVATE
| Q4 25 | 73.2% | -1.9% | ||
| Q3 25 | -16.6% | -2.6% | ||
| Q2 25 | 4.6% | -8.2% | ||
| Q1 25 | 6.1% | -8.9% | ||
| Q4 24 | 0.7% | -7.0% | ||
| Q3 24 | 12.3% | -6.2% | ||
| Q2 24 | 21.0% | 4.6% | ||
| Q1 24 | 1.1% | -5.5% |
每股收益（稀释后）DOCVATE
| Q4 25 | $0.16 | $-0.57 | ||
| Q3 25 | $-0.17 | $-0.71 | ||
| Q2 25 | $0.05 | $-1.67 | ||
| Q1 25 | $0.06 | $-1.89 | ||
| Q4 24 | $0.02 | $-0.72 | ||
| Q3 24 | $0.12 | $-1.18 | ||
| Q2 24 | $0.21 | $1.03 | ||
| Q1 24 | $0.01 | $-2.21 |
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 | $112.1M |
| 总债务越低越好 | $9.8B | $80.3M |
| 股东权益账面价值 | $7.5B | $-240.1M |
| 总资产 | $20.3B | $950.1M |
| 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DOCVATE
| Q4 25 | $467.5M | $112.1M | ||
| Q3 25 | $91.0M | $35.5M | ||
| Q2 25 | $89.4M | $33.4M | ||
| Q1 25 | $70.6M | $33.3M | ||
| Q4 24 | $119.8M | $48.8M | ||
| Q3 24 | $180.4M | $51.0M | ||
| Q2 24 | $106.9M | $80.2M | ||
| Q1 24 | $101.8M | $38.4M |
总债务DOCVATE
| Q4 25 | $9.8B | $80.3M | ||
| Q3 25 | $9.1B | $97.3M | ||
| Q2 25 | $9.0B | $160.1M | ||
| Q1 25 | $8.9B | $139.9M | ||
| Q4 24 | $8.7B | $500.6M | ||
| Q3 24 | $8.6B | $502.4M | ||
| Q2 24 | $8.6B | $638.3M | ||
| Q1 24 | $8.8B | $641.5M |
股东权益DOCVATE
| Q4 25 | $7.5B | $-240.1M | ||
| Q3 25 | $7.6B | $-233.3M | ||
| Q2 25 | $7.9B | $-224.8M | ||
| Q1 25 | $8.2B | $-204.2M | ||
| Q4 24 | $8.4B | $-180.4M | ||
| Q3 24 | $8.6B | $-163.1M | ||
| Q2 24 | $8.8B | $-149.0M | ||
| Q1 24 | $8.9B | $-184.4M |
总资产DOCVATE
| Q4 25 | $20.3B | $950.1M | ||
| Q3 25 | $19.6B | $913.2M | ||
| Q2 25 | $19.8B | $890.9M | ||
| Q1 25 | $19.8B | $868.0M | ||
| Q4 24 | $19.9B | $891.1M | ||
| Q3 24 | $20.0B | $897.2M | ||
| Q2 24 | $20.2B | $898.9M | ||
| Q1 24 | $20.5B | $943.5M |
负债/权益比DOCVATE
| 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 | $101.1M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | — |
| 自由现金流率自由现金流/营收 | 49.6% | — |
| 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× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流DOCVATE
| Q4 25 | $1.3B | $101.1M | ||
| Q3 25 | $315.0M | $19.2M | ||
| Q2 25 | $363.5M | $40.4M | ||
| Q1 25 | $279.4M | $-14.1M | ||
| Q4 24 | $1.1B | $41.4M | ||
| Q3 24 | $318.2M | $-28.4M | ||
| Q2 24 | $316.2M | $21.5M | ||
| Q1 24 | $152.6M | $-25.4M |
自由现金流DOCVATE
| Q4 25 | $357.0M | — | ||
| Q3 25 | — | $19.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-18.8M | ||
| Q4 24 | $333.7M | $34.2M | ||
| Q3 24 | — | $-31.5M | ||
| Q2 24 | — | $18.4M | ||
| Q1 24 | — | $-31.0M |
自由现金流率DOCVATE
| Q4 25 | 49.6% | — | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | 47.8% | 14.5% | ||
| Q3 24 | — | -13.0% | ||
| Q2 24 | — | 5.9% | ||
| Q1 24 | — | -9.8% |
资本支出强度DOCVATE
| Q4 25 | 124.4% | — | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | 105.6% | 3.0% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 1.8% |
现金转化率DOCVATE
| 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× | 1.49× | ||
| 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
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
