vs
Healthpeak Properties（DOC）与Wendy's Co（WEN）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Wendy's Co的1.3倍（$719.4M vs $543.0M），Healthpeak Properties净利率更高（73.2% vs 4.9%，领先68.3%），Healthpeak Properties同比增速更快（3.1% vs -5.5%），Healthpeak Properties自由现金流更多（$357.0M vs $31.4M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs 0.8%）
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。
温蒂公司是美国知名快餐企业，是温蒂汉堡及First Kitchen的母公司，前身为Deisel-Wemmer公司，总部位于俄亥俄州都柏林。旗下核心子公司温蒂国际是温蒂汉堡餐厅的特许经营授权方，在全球快餐市场拥有较高的品牌辨识度。
DOC vs WEN — 直观对比
营收规模更大
DOC
是对方的1.3倍
$543.0M
营收增速更快
DOC
高出8.5%
-5.5%
净利率更高
DOC
高出68.3%
4.9%
自由现金流更多
DOC
多$325.6M
$31.4M
两年增速更快
DOC
近两年复合增速
0.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $543.0M |
| 净利润 | $114.0M | $26.5M |
| 毛利率 | — | 62.7% |
| 营业利润率 | 17.4% | 11.8% |
| 净利率 | 73.2% | 4.9% |
| 营收同比 | 3.1% | -5.5% |
| 净利润同比 | 2406.4% | -44.2% |
| 每股收益（稀释后） | $0.16 | $0.14 |
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DOCWEN
| Q4 25 | $719.4M | $543.0M | ||
| Q3 25 | $705.9M | $549.5M | ||
| Q2 25 | $694.3M | $560.9M | ||
| Q1 25 | $702.9M | $523.5M | ||
| Q4 24 | $698.0M | $574.3M | ||
| Q3 24 | $700.4M | $566.7M | ||
| Q2 24 | $695.5M | $570.7M | ||
| Q1 24 | $606.6M | $534.8M |
净利润DOCWEN
| Q4 25 | $114.0M | $26.5M | ||
| Q3 25 | $-117.1M | $44.3M | ||
| Q2 25 | $31.7M | $55.1M | ||
| Q1 25 | $42.8M | $39.2M | ||
| Q4 24 | $4.5M | $47.5M | ||
| Q3 24 | $85.9M | $50.2M | ||
| Q2 24 | $146.0M | $54.6M | ||
| Q1 24 | $6.7M | $42.0M |
毛利率DOCWEN
| Q4 25 | — | 62.7% | ||
| Q3 25 | 58.6% | 62.8% | ||
| Q2 25 | 60.2% | 65.0% | ||
| Q1 25 | 61.1% | 64.1% | ||
| Q4 24 | 60.3% | 65.9% | ||
| Q3 24 | 60.0% | 65.5% | ||
| Q2 24 | 60.6% | 65.0% | ||
| Q1 24 | 59.8% | 64.1% |
营业利润率DOCWEN
| Q4 25 | 17.4% | 11.8% | ||
| Q3 25 | 9.2% | 16.8% | ||
| Q2 25 | 5.7% | 18.6% | ||
| Q1 25 | 7.7% | 15.9% | ||
| Q4 24 | -2.2% | 16.7% | ||
| Q3 24 | 14.1% | 16.7% | ||
| Q2 24 | 22.3% | 17.4% | ||
| Q1 24 | 3.7% | 15.2% |
净利率DOCWEN
| Q4 25 | 73.2% | 4.9% | ||
| Q3 25 | -16.6% | 8.1% | ||
| Q2 25 | 4.6% | 9.8% | ||
| Q1 25 | 6.1% | 7.5% | ||
| Q4 24 | 0.7% | 8.3% | ||
| Q3 24 | 12.3% | 8.9% | ||
| Q2 24 | 21.0% | 9.6% | ||
| Q1 24 | 1.1% | 7.9% |
每股收益（稀释后）DOCWEN
| Q4 25 | $0.16 | $0.14 | ||
| Q3 25 | $-0.17 | $0.23 | ||
| Q2 25 | $0.05 | $0.29 | ||
| Q1 25 | $0.06 | $0.19 | ||
| Q4 24 | $0.02 | $0.23 | ||
| Q3 24 | $0.12 | $0.25 | ||
| Q2 24 | $0.21 | $0.27 | ||
| Q1 24 | $0.01 | $0.20 |
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 | $300.8M |
| 总债务越低越好 | $9.8B | $2.8B |
| 股东权益账面价值 | $7.5B | $117.4M |
| 总资产 | $20.3B | $5.0B |
| 负债/权益比越低杠杆越低 | 1.31× | 23.51× |
8季度趋势，按日历期对齐
现金及短期投资DOCWEN
| Q4 25 | $467.5M | $300.8M | ||
| Q3 25 | $91.0M | $291.4M | ||
| Q2 25 | $89.4M | $281.2M | ||
| Q1 25 | $70.6M | $335.3M | ||
| Q4 24 | $119.8M | $450.5M | ||
| Q3 24 | $180.4M | $482.2M | ||
| Q2 24 | $106.9M | $465.5M | ||
| Q1 24 | $101.8M | $498.3M |
总债务DOCWEN
| Q4 25 | $9.8B | $2.8B | ||
| Q3 25 | $9.1B | $2.7B | ||
| Q2 25 | $9.0B | $2.7B | ||
| Q1 25 | $8.9B | $2.7B | ||
| Q4 24 | $8.7B | $2.7B | ||
| Q3 24 | $8.6B | — | ||
| Q2 24 | $8.6B | — | ||
| Q1 24 | $8.8B | — |
股东权益DOCWEN
| Q4 25 | $7.5B | $117.4M | ||
| Q3 25 | $7.6B | $109.2M | ||
| Q2 25 | $7.9B | $112.9M | ||
| Q1 25 | $8.2B | $130.2M | ||
| Q4 24 | $8.4B | $259.4M | ||
| Q3 24 | $8.6B | $259.9M | ||
| Q2 24 | $8.8B | $273.8M | ||
| Q1 24 | $8.9B | $293.7M |
总资产DOCWEN
| Q4 25 | $20.3B | $5.0B | ||
| Q3 25 | $19.6B | $5.0B | ||
| Q2 25 | $19.8B | $4.9B | ||
| Q1 25 | $19.8B | $4.9B | ||
| Q4 24 | $19.9B | $5.0B | ||
| Q3 24 | $20.0B | $5.1B | ||
| Q2 24 | $20.2B | $5.1B | ||
| Q1 24 | $20.5B | $5.2B |
负债/权益比DOCWEN
| Q4 25 | 1.31× | 23.51× | ||
| Q3 25 | 1.20× | 24.95× | ||
| Q2 25 | 1.14× | 24.18× | ||
| Q1 25 | 1.08× | 21.00× | ||
| Q4 24 | 1.04× | 10.57× | ||
| 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 | $69.3M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $31.4M |
| 自由现金流率自由现金流/营收 | 49.6% | 5.8% |
| 资本支出强度资本支出/营收 | 124.4% | 7.0% |
| 现金转化率经营现金流/净利润 | 10.99× | 2.62× |
| 过去12个月自由现金流最近4个季度 | — | $242.6M |
8季度趋势，按日历期对齐
经营现金流DOCWEN
| Q4 25 | $1.3B | $69.3M | ||
| Q3 25 | $315.0M | $129.3M | ||
| Q2 25 | $363.5M | $60.6M | ||
| Q1 25 | $279.4M | $85.4M | ||
| Q4 24 | $1.1B | $68.6M | ||
| Q3 24 | $318.2M | $141.2M | ||
| Q2 24 | $316.2M | $45.5M | ||
| Q1 24 | $152.6M | $100.0M |
自由现金流DOCWEN
| Q4 25 | $357.0M | $31.4M | ||
| Q3 25 | — | $104.3M | ||
| Q2 25 | — | $39.2M | ||
| Q1 25 | — | $67.7M | ||
| Q4 24 | $333.7M | $26.6M | ||
| Q3 24 | — | $123.3M | ||
| Q2 24 | — | $28.4M | ||
| Q1 24 | — | $82.6M |
自由现金流率DOCWEN
| Q4 25 | 49.6% | 5.8% | ||
| Q3 25 | — | 19.0% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | — | 12.9% | ||
| Q4 24 | 47.8% | 4.6% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | 5.0% | ||
| Q1 24 | — | 15.5% |
资本支出强度DOCWEN
| Q4 25 | 124.4% | 7.0% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | 105.6% | 7.3% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 3.0% | ||
| Q1 24 | — | 3.2% |
现金转化率DOCWEN
| Q4 25 | 10.99× | 2.62× | ||
| Q3 25 | — | 2.92× | ||
| Q2 25 | 11.48× | 1.10× | ||
| Q1 25 | 6.52× | 2.18× | ||
| Q4 24 | 235.43× | 1.44× | ||
| Q3 24 | 3.71× | 2.81× | ||
| Q2 24 | 2.17× | 0.83× | ||
| Q1 24 | 22.85× | 2.38× |
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
WEN
| Franchise Royalty Revenueand Fees | $149.3M | 27% |
| Royalty | $103.6M | 19% |
| Advertising | $103.3M | 19% |
| Global Real Estate Development | $60.5M | 11% |
| Real Estate | $59.5M | 11% |
| Wendys International | $39.5M | 7% |
| Franchise | $21.5M | 4% |
