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Healthpeak Properties（DOC）与沃特世（WAT）财务数据对比。点击上方公司名可切换其他公司
沃特世的季度营收约是Healthpeak Properties的1.3倍（$932.4M vs $719.4M），Healthpeak Properties净利率更高（73.2% vs 24.2%，领先49.0%），沃特世同比增速更快（6.8% vs 3.1%），过去两年沃特世的营收复合增速更高（21.0% 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。
沃特世是总部位于美国马萨诸塞州米尔福德的企业，面向生命科学、材料、食品等行业，提供色谱、质谱、实验室信息学、流变测量领域所用的分析仪器及配套软件，为各领域的检测、研发等工作提供可靠技术支持。
DOC vs WAT — 直观对比
营收规模更大
WAT
是对方的1.3倍
$719.4M
营收增速更快
WAT
高出3.8%
3.1%
净利率更高
DOC
高出49.0%
24.2%
两年增速更快
WAT
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $932.4M |
| 净利润 | $114.0M | $225.2M |
| 毛利率 | — | 61.1% |
| 营业利润率 | 17.4% | 29.0% |
| 净利率 | 73.2% | 24.2% |
| 营收同比 | 3.1% | 6.8% |
| 净利润同比 | 2406.4% | -2.7% |
| 每股收益（稀释后） | $0.16 | $3.76 |
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DOCWAT
| Q4 25 | $719.4M | $932.4M | ||
| Q3 25 | $705.9M | $799.9M | ||
| Q2 25 | $694.3M | $771.3M | ||
| Q1 25 | $702.9M | $661.7M | ||
| Q4 24 | $698.0M | $872.7M | ||
| Q3 24 | $700.4M | $740.3M | ||
| Q2 24 | $695.5M | $708.5M | ||
| Q1 24 | $606.6M | $636.8M |
净利润DOCWAT
| Q4 25 | $114.0M | $225.2M | ||
| Q3 25 | $-117.1M | $148.9M | ||
| Q2 25 | $31.7M | $147.1M | ||
| Q1 25 | $42.8M | $121.4M | ||
| Q4 24 | $4.5M | $231.4M | ||
| Q3 24 | $85.9M | $161.5M | ||
| Q2 24 | $146.0M | $142.7M | ||
| Q1 24 | $6.7M | $102.2M |
毛利率DOCWAT
| Q4 25 | — | 61.1% | ||
| Q3 25 | 58.6% | 59.0% | ||
| Q2 25 | 60.2% | 58.3% | ||
| Q1 25 | 61.1% | 58.2% | ||
| Q4 24 | 60.3% | 60.1% | ||
| Q3 24 | 60.0% | 59.3% | ||
| Q2 24 | 60.6% | 59.3% | ||
| Q1 24 | 59.8% | 58.9% |
营业利润率DOCWAT
| Q4 25 | 17.4% | 29.0% | ||
| Q3 25 | 9.2% | 24.0% | ||
| Q2 25 | 5.7% | 24.4% | ||
| Q1 25 | 7.7% | 22.9% | ||
| Q4 24 | -2.2% | 33.5% | ||
| Q3 24 | 14.1% | 28.5% | ||
| Q2 24 | 22.3% | 26.7% | ||
| Q1 24 | 3.7% | 21.0% |
净利率DOCWAT
| Q4 25 | 73.2% | 24.2% | ||
| Q3 25 | -16.6% | 18.6% | ||
| Q2 25 | 4.6% | 19.1% | ||
| Q1 25 | 6.1% | 18.3% | ||
| Q4 24 | 0.7% | 26.5% | ||
| Q3 24 | 12.3% | 21.8% | ||
| Q2 24 | 21.0% | 20.1% | ||
| Q1 24 | 1.1% | 16.0% |
每股收益（稀释后）DOCWAT
| Q4 25 | $0.16 | $3.76 | ||
| Q3 25 | $-0.17 | $2.50 | ||
| Q2 25 | $0.05 | $2.47 | ||
| Q1 25 | $0.06 | $2.03 | ||
| Q4 24 | $0.02 | $3.88 | ||
| Q3 24 | $0.12 | $2.71 | ||
| Q2 24 | $0.21 | $2.40 | ||
| Q1 24 | $0.01 | $1.72 |
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 | $587.8M |
| 总债务越低越好 | $9.8B | $1.4B |
| 股东权益账面价值 | $7.5B | $2.6B |
| 总资产 | $20.3B | $5.1B |
| 负债/权益比越低杠杆越低 | 1.31× | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资DOCWAT
| Q4 25 | $467.5M | $587.8M | ||
| Q3 25 | $91.0M | $459.1M | ||
| Q2 25 | $89.4M | $367.2M | ||
| Q1 25 | $70.6M | $382.9M | ||
| Q4 24 | $119.8M | $325.4M | ||
| Q3 24 | $180.4M | $331.5M | ||
| Q2 24 | $106.9M | $327.4M | ||
| Q1 24 | $101.8M | $338.2M |
总债务DOCWAT
| Q4 25 | $9.8B | $1.4B | ||
| Q3 25 | $9.1B | — | ||
| Q2 25 | $9.0B | — | ||
| Q1 25 | $8.9B | — | ||
| Q4 24 | $8.7B | $1.6B | ||
| Q3 24 | $8.6B | — | ||
| Q2 24 | $8.6B | — | ||
| Q1 24 | $8.8B | — |
股东权益DOCWAT
| Q4 25 | $7.5B | $2.6B | ||
| Q3 25 | $7.6B | $2.3B | ||
| Q2 25 | $7.9B | $2.2B | ||
| Q1 25 | $8.2B | $2.0B | ||
| Q4 24 | $8.4B | $1.8B | ||
| Q3 24 | $8.6B | $1.6B | ||
| Q2 24 | $8.8B | $1.4B | ||
| Q1 24 | $8.9B | $1.3B |
总资产DOCWAT
| Q4 25 | $20.3B | $5.1B | ||
| Q3 25 | $19.6B | $4.9B | ||
| Q2 25 | $19.8B | $4.7B | ||
| Q1 25 | $19.8B | $4.6B | ||
| Q4 24 | $19.9B | $4.6B | ||
| Q3 24 | $20.0B | $4.5B | ||
| Q2 24 | $20.2B | $4.4B | ||
| Q1 24 | $20.5B | $4.5B |
负债/权益比DOCWAT
| Q4 25 | 1.31× | 0.55× | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.08× | — | ||
| Q4 24 | 1.04× | 0.89× | ||
| 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 | $164.6M |
| 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× | 0.73× |
| 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DOCWAT
| Q4 25 | $1.3B | $164.6M | ||
| Q3 25 | $315.0M | $187.3M | ||
| Q2 25 | $363.5M | $41.1M | ||
| Q1 25 | $279.4M | $259.6M | ||
| Q4 24 | $1.1B | $240.1M | ||
| Q3 24 | $318.2M | $204.6M | ||
| Q2 24 | $316.2M | $54.5M | ||
| Q1 24 | $152.6M | $262.9M |
自由现金流DOCWAT
| Q4 25 | $357.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $333.7M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率DOCWAT
| Q4 25 | 49.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 47.8% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度DOCWAT
| Q4 25 | 124.4% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 105.6% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率DOCWAT
| Q4 25 | 10.99× | 0.73× | ||
| Q3 25 | — | 1.26× | ||
| Q2 25 | 11.48× | 0.28× | ||
| Q1 25 | 6.52× | 2.14× | ||
| Q4 24 | 235.43× | 1.04× | ||
| Q3 24 | 3.71× | 1.27× | ||
| Q2 24 | 2.17× | 0.38× | ||
| Q1 24 | 22.85× | 2.57× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
