vs
Healthpeak Properties（DOC）与WESTERN ALLIANCE BANCORPORATION（WAL）财务数据对比。点击上方公司名可切换其他公司
WESTERN ALLIANCE BANCORPORATION的季度营收约是Healthpeak Properties的1.4倍（$1.0B vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 18.6%，领先54.6%），WESTERN ALLIANCE BANCORPORATION同比增速更快（31.0% vs 3.1%），过去两年WESTERN ALLIANCE BANCORPORATION的营收复合增速更高（14.9% 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。
Western Alliance Bancorporation是总部位于美国菲尼克斯的区域性银行控股公司，长期深耕美国本土区域金融服务市场，目前已跻身美国最大银行行列，在福布斯发布的美国最佳银行榜单中排名第97位。
DOC vs WAL — 直观对比
营收规模更大
WAL
是对方的1.4倍
$719.4M
营收增速更快
WAL
高出27.9%
3.1%
净利率更高
DOC
高出54.6%
18.6%
两年增速更快
WAL
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $1.0B |
| 净利润 | $114.0M | $189.2M |
| 毛利率 | — | — |
| 营业利润率 | 17.4% | — |
| 净利率 | 73.2% | 18.6% |
| 营收同比 | 3.1% | 31.0% |
| 净利润同比 | 2406.4% | -5.0% |
| 每股收益（稀释后） | $0.16 | $1.65 |
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DOCWAL
| Q1 26 | — | $1.0B | ||
| Q4 25 | $719.4M | $980.9M | ||
| Q3 25 | $705.9M | $938.2M | ||
| Q2 25 | $694.3M | $845.9M | ||
| Q1 25 | $702.9M | $778.0M | ||
| Q4 24 | $698.0M | $838.4M | ||
| Q3 24 | $700.4M | $823.1M | ||
| Q2 24 | $695.5M | $771.8M |
净利润DOCWAL
| Q1 26 | — | $189.2M | ||
| Q4 25 | $114.0M | $286.1M | ||
| Q3 25 | $-117.1M | $253.4M | ||
| Q2 25 | $31.7M | $230.4M | ||
| Q1 25 | $42.8M | $199.1M | ||
| Q4 24 | $4.5M | $216.9M | ||
| Q3 24 | $85.9M | $199.8M | ||
| Q2 24 | $146.0M | $193.6M |
毛利率DOCWAL
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 58.6% | — | ||
| Q2 25 | 60.2% | — | ||
| Q1 25 | 61.1% | — | ||
| Q4 24 | 60.3% | — | ||
| Q3 24 | 60.0% | — | ||
| Q2 24 | 60.6% | — |
营业利润率DOCWAL
| Q1 26 | — | — | ||
| Q4 25 | 17.4% | 36.3% | ||
| Q3 25 | 9.2% | 33.4% | ||
| Q2 25 | 5.7% | 34.4% | ||
| Q1 25 | 7.7% | 31.7% | ||
| Q4 24 | -2.2% | 30.9% | ||
| Q3 24 | 14.1% | 30.6% | ||
| Q2 24 | 22.3% | 32.1% |
净利率DOCWAL
| Q1 26 | — | 18.6% | ||
| Q4 25 | 73.2% | 29.2% | ||
| Q3 25 | -16.6% | 27.0% | ||
| Q2 25 | 4.6% | 27.2% | ||
| Q1 25 | 6.1% | 25.6% | ||
| Q4 24 | 0.7% | 25.9% | ||
| Q3 24 | 12.3% | 24.3% | ||
| Q2 24 | 21.0% | 25.1% |
每股收益（稀释后）DOCWAL
| Q1 26 | — | $1.65 | ||
| Q4 25 | $0.16 | $2.59 | ||
| Q3 25 | $-0.17 | $2.28 | ||
| Q2 25 | $0.05 | $2.07 | ||
| Q1 25 | $0.06 | $1.79 | ||
| Q4 24 | $0.02 | $1.94 | ||
| Q3 24 | $0.12 | $1.80 | ||
| Q2 24 | $0.21 | $1.75 |
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 | — |
| 总债务越低越好 | $9.8B | $4.3B |
| 股东权益账面价值 | $7.5B | $7.9B |
| 总资产 | $20.3B | $98.9B |
| 负债/权益比越低杠杆越低 | 1.31× | 0.54× |
8季度趋势，按日历期对齐
现金及短期投资DOCWAL
| Q1 26 | — | — | ||
| Q4 25 | $467.5M | — | ||
| Q3 25 | $91.0M | — | ||
| Q2 25 | $89.4M | — | ||
| Q1 25 | $70.6M | — | ||
| Q4 24 | $119.8M | — | ||
| Q3 24 | $180.4M | — | ||
| Q2 24 | $106.9M | — |
总债务DOCWAL
| Q1 26 | — | $4.3B | ||
| Q4 25 | $9.8B | $1.4B | ||
| Q3 25 | $9.1B | $2.9B | ||
| Q2 25 | $9.0B | $2.9B | ||
| Q1 25 | $8.9B | $1.6B | ||
| Q4 24 | $8.7B | $2.4B | ||
| Q3 24 | $8.6B | $1.4B | ||
| Q2 24 | $8.6B | $436.0M |
股东权益DOCWAL
| Q1 26 | — | $7.9B | ||
| Q4 25 | $7.5B | $7.7B | ||
| Q3 25 | $7.6B | $7.4B | ||
| Q2 25 | $7.9B | $7.1B | ||
| Q1 25 | $8.2B | $6.9B | ||
| Q4 24 | $8.4B | $6.7B | ||
| Q3 24 | $8.6B | $6.7B | ||
| Q2 24 | $8.8B | $6.3B |
总资产DOCWAL
| Q1 26 | — | $98.9B | ||
| Q4 25 | $20.3B | $92.8B | ||
| Q3 25 | $19.6B | $91.0B | ||
| Q2 25 | $19.8B | $86.7B | ||
| Q1 25 | $19.8B | $83.0B | ||
| Q4 24 | $19.9B | $80.9B | ||
| Q3 24 | $20.0B | $80.1B | ||
| Q2 24 | $20.2B | $80.6B |
负债/权益比DOCWAL
| Q1 26 | — | 0.54× | ||
| Q4 25 | 1.31× | 0.18× | ||
| Q3 25 | 1.20× | 0.39× | ||
| Q2 25 | 1.14× | 0.41× | ||
| Q1 25 | 1.08× | 0.23× | ||
| Q4 24 | 1.04× | 0.36× | ||
| Q3 24 | 1.00× | 0.21× | ||
| Q2 24 | 0.98× | 0.07× |
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 | — |
| 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DOCWAL
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $-2.7B | ||
| Q3 25 | $315.0M | $-597.4M | ||
| Q2 25 | $363.5M | $-357.7M | ||
| Q1 25 | $279.4M | $-1.7B | ||
| Q4 24 | $1.1B | $-2.7B | ||
| Q3 24 | $318.2M | $-1.1B | ||
| Q2 24 | $316.2M | $-745.8M |
自由现金流DOCWAL
| 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DOCWAL
| 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DOCWAL
| Q1 26 | — | — | ||
| Q4 25 | 124.4% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 105.6% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率DOCWAL
| Q1 26 | — | — | ||
| Q4 25 | 10.99× | -9.36× | ||
| Q3 25 | — | -2.36× | ||
| Q2 25 | 11.48× | -1.55× | ||
| Q1 25 | 6.52× | -8.31× | ||
| Q4 24 | 235.43× | -12.64× | ||
| Q3 24 | 3.71× | -5.35× | ||
| Q2 24 | 2.17× | -3.85× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
