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Healthpeak Properties（DOC）与VEEVA SYSTEMS INC（VEEV）财务数据对比。点击上方公司名可切换其他公司
VEEVA SYSTEMS INC的季度营收约是Healthpeak Properties的1.2倍（$811.2M vs $702.9M），Healthpeak Properties净利率更高（51.6% vs 29.1%，领先22.5%），VEEVA SYSTEMS INC同比增速更快（16.0% vs -6.6%），过去两年VEEVA SYSTEMS INC的营收复合增速更高（13.4% vs 0.5%）
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。
Veeva Systems Inc总部位于美国加利福尼亚州普莱森顿，是一家公益类上市企业，专注为生命科学行业提供云软件、数据服务及商业咨询，旗下产品可实现数据管理、监管注册跟踪、供应链全流程监督等多项功能。
DOC vs VEEV — 直观对比
营收规模更大
VEEV
是对方的1.2倍
$702.9M
营收增速更快
VEEV
高出22.7%
-6.6%
净利率更高
DOC
高出22.5%
29.1%
两年增速更快
VEEV
近两年复合增速
0.5%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $702.9M | $811.2M |
| 净利润 | $363.0M | $236.2M |
| 毛利率 | — | 75.4% |
| 营业利润率 | 0.7% | 29.7% |
| 净利率 | 51.6% | 29.1% |
| 营收同比 | -6.6% | 16.0% |
| 净利润同比 | 28.3% | 27.1% |
| 每股收益（稀释后） | $0.28 | $1.40 |
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DOCVEEV
| Q1 26 | $702.9M | — | ||
| Q4 25 | $719.4M | $811.2M | ||
| Q3 25 | $705.9M | $789.1M | ||
| Q2 25 | $694.3M | $759.0M | ||
| Q1 25 | $702.9M | $720.9M | ||
| Q4 24 | $698.0M | $699.2M | ||
| Q3 24 | $700.4M | $676.2M | ||
| Q2 24 | $695.5M | $650.3M |
净利润DOCVEEV
| Q1 26 | $363.0M | — | ||
| Q4 25 | $114.0M | $236.2M | ||
| Q3 25 | $-117.1M | $200.3M | ||
| Q2 25 | $31.7M | $228.2M | ||
| Q1 25 | $42.8M | $195.6M | ||
| Q4 24 | $4.5M | $185.8M | ||
| Q3 24 | $85.9M | $171.0M | ||
| Q2 24 | $146.0M | $161.7M |
毛利率DOCVEEV
| Q1 26 | — | — | ||
| Q4 25 | — | 75.4% | ||
| Q3 25 | 58.6% | 75.3% | ||
| Q2 25 | 60.2% | 77.1% | ||
| Q1 25 | 61.1% | 74.9% | ||
| Q4 24 | 60.3% | 75.1% | ||
| Q3 24 | 60.0% | 74.8% | ||
| Q2 24 | 60.6% | 73.3% |
营业利润率DOCVEEV
| Q1 26 | 0.7% | — | ||
| Q4 25 | 17.4% | 29.7% | ||
| Q3 25 | 9.2% | 24.8% | ||
| Q2 25 | 5.7% | 30.8% | ||
| Q1 25 | 7.7% | 26.1% | ||
| Q4 24 | -2.2% | 25.9% | ||
| Q3 24 | 14.1% | 24.6% | ||
| Q2 24 | 22.3% | 23.9% |
净利率DOCVEEV
| Q1 26 | 51.6% | — | ||
| Q4 25 | 73.2% | 29.1% | ||
| Q3 25 | -16.6% | 25.4% | ||
| Q2 25 | 4.6% | 30.1% | ||
| Q1 25 | 6.1% | 27.1% | ||
| Q4 24 | 0.7% | 26.6% | ||
| Q3 24 | 12.3% | 25.3% | ||
| Q2 24 | 21.0% | 24.9% |
每股收益（稀释后）DOCVEEV
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.16 | $1.40 | ||
| Q3 25 | $-0.17 | $1.19 | ||
| Q2 25 | $0.05 | $1.37 | ||
| Q1 25 | $0.06 | $1.17 | ||
| Q4 24 | $0.02 | $1.13 | ||
| Q3 24 | $0.12 | $1.04 | ||
| Q2 24 | $0.21 | $0.98 |
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 | $-1.2B | $1.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.8B | $7.0B |
| 总资产 | $21.6B | $8.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DOCVEEV
| Q1 26 | $-1.2B | — | ||
| Q4 25 | $467.5M | $1.7B | ||
| Q3 25 | $91.0M | $1.9B | ||
| Q2 25 | $89.4M | $2.0B | ||
| Q1 25 | $70.6M | $1.1B | ||
| Q4 24 | $119.8M | $1.0B | ||
| Q3 24 | $180.4M | $1.2B | ||
| Q2 24 | $106.9M | $1.2B |
总债务DOCVEEV
| Q1 26 | — | — | ||
| 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 | — |
股东权益DOCVEEV
| Q1 26 | $7.8B | — | ||
| Q4 25 | $7.5B | $7.0B | ||
| Q3 25 | $7.6B | $6.6B | ||
| Q2 25 | $7.9B | $6.2B | ||
| Q1 25 | $8.2B | $5.8B | ||
| Q4 24 | $8.4B | $5.5B | ||
| Q3 24 | $8.6B | $5.2B | ||
| Q2 24 | $8.8B | $4.9B |
总资产DOCVEEV
| Q1 26 | $21.6B | — | ||
| Q4 25 | $20.3B | $8.1B | ||
| Q3 25 | $19.6B | $8.0B | ||
| Q2 25 | $19.8B | $7.8B | ||
| Q1 25 | $19.8B | $7.3B | ||
| Q4 24 | $19.9B | $6.5B | ||
| Q3 24 | $20.0B | $6.3B | ||
| Q2 24 | $20.2B | $6.2B |
负债/权益比DOCVEEV
| Q1 26 | — | — | ||
| 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× | — |
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 | — | $192.8M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 3.4% | — |
| 现金转化率经营现金流/净利润 | — | 0.82× |
| 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DOCVEEV
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $192.8M | ||
| Q3 25 | $315.0M | $238.4M | ||
| Q2 25 | $363.5M | $877.2M | ||
| Q1 25 | $279.4M | $69.5M | ||
| Q4 24 | $1.1B | $164.1M | ||
| Q3 24 | $318.2M | $92.9M | ||
| Q2 24 | $316.2M | $763.5M |
自由现金流DOCVEEV
| Q1 26 | — | — | ||
| Q4 25 | $357.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $333.7M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流率DOCVEEV
| Q1 26 | — | — | ||
| Q4 25 | 49.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 47.8% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资本支出强度DOCVEEV
| Q1 26 | 3.4% | — | ||
| Q4 25 | 124.4% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 105.6% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率DOCVEEV
| Q1 26 | — | — | ||
| Q4 25 | 10.99× | 0.82× | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | 11.48× | 3.84× | ||
| Q1 25 | 6.52× | 0.36× | ||
| Q4 24 | 235.43× | 0.88× | ||
| Q3 24 | 3.71× | 0.54× | ||
| Q2 24 | 2.17× | 4.72× |
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
| Outpatient Medical | $320.5M | 46% |
| Lab | $217.6M | 31% |
| Senior Housing | $148.9M | 21% |
| Other | $14.3M | 2% |
| Corporate Non-segment | $1.5M | 0% |
VEEV
| Subscription Services Veeva Research And Development | $364.8M | 45% |
| Subscription Services Veeva Commercial Cloud | $317.6M | 39% |
| Professional Services Veeva Research And Development | $81.3M | 10% |
| Professional Services Veeva Commercial Cloud | $47.5M | 6% |
