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Healthpeak Properties（DOC）与华纳音乐集团（WMG）财务数据对比。点击上方公司名可切换其他公司
Healthpeak Properties的季度营收约是华纳音乐集团的2.0倍（$702.9M vs $353.0M），Healthpeak Properties净利率更高（51.6% vs 51.3%，领先0.4%），华纳音乐集团同比增速更快（16.7% vs -6.6%），过去两年Healthpeak Properties的营收复合增速更高（0.5% vs -52.3%）
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。
华纳音乐集团（简称WMG）是总部位于美国纽约的跨国娱乐及唱片集团，属于全球唱片行业“三大巨头”之一，市场规模位居全球音乐行业第三位，仅次于环球音乐集团与索尼音乐娱乐。
DOC vs WMG — 直观对比
营收规模更大
DOC
是对方的2.0倍
$353.0M
营收增速更快
WMG
高出23.4%
-6.6%
净利率更高
DOC
高出0.4%
51.3%
两年增速更快
DOC
近两年复合增速
-52.3%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $702.9M | $353.0M |
| 净利润 | $363.0M | $181.0M |
| 毛利率 | — | 363.5% |
| 营业利润率 | 0.7% | 74.8% |
| 净利率 | 51.6% | 51.3% |
| 营收同比 | -6.6% | 16.7% |
| 净利润同比 | 28.3% | 402.8% |
| 每股收益（稀释后） | $0.28 | — |
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DOCWMG
| Q1 26 | $702.9M | $353.0M | ||
| Q4 25 | $719.4M | $1.8B | ||
| Q3 25 | $705.9M | $1.9B | ||
| Q2 25 | $694.3M | $1.7B | ||
| Q1 25 | $702.9M | $1.5B | ||
| Q4 24 | $698.0M | $1.7B | ||
| Q3 24 | $700.4M | $1.6B | ||
| Q2 24 | $695.5M | $1.6B |
净利润DOCWMG
| Q1 26 | $363.0M | $181.0M | ||
| Q4 25 | $114.0M | $176.0M | ||
| Q3 25 | $-117.1M | $109.0M | ||
| Q2 25 | $31.7M | $-16.0M | ||
| Q1 25 | $42.8M | $36.0M | ||
| Q4 24 | $4.5M | $236.0M | ||
| Q3 24 | $85.9M | $41.0M | ||
| Q2 24 | $146.0M | $139.0M |
毛利率DOCWMG
| Q1 26 | — | 363.5% | ||
| Q4 25 | — | 46.4% | ||
| Q3 25 | 58.6% | 44.6% | ||
| Q2 25 | 60.2% | 45.9% | ||
| Q1 25 | 61.1% | 46.7% | ||
| Q4 24 | 60.3% | 46.3% | ||
| Q3 24 | 60.0% | 47.6% | ||
| Q2 24 | 60.6% | 46.6% |
营业利润率DOCWMG
| Q1 26 | 0.7% | 74.8% | ||
| Q4 25 | 17.4% | 15.7% | ||
| Q3 25 | 9.2% | 7.7% | ||
| Q2 25 | 5.7% | 10.0% | ||
| Q1 25 | 7.7% | 11.3% | ||
| Q4 24 | -2.2% | 12.8% | ||
| Q3 24 | 14.1% | 8.8% | ||
| Q2 24 | 22.3% | 13.3% |
净利率DOCWMG
| Q1 26 | 51.6% | 51.3% | ||
| Q4 25 | 73.2% | 9.6% | ||
| Q3 25 | -16.6% | 5.8% | ||
| Q2 25 | 4.6% | -0.9% | ||
| Q1 25 | 6.1% | 2.4% | ||
| Q4 24 | 0.7% | 14.2% | ||
| Q3 24 | 12.3% | 2.5% | ||
| Q2 24 | 21.0% | 8.9% |
每股收益（稀释后）DOCWMG
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.16 | — | ||
| Q3 25 | $-0.17 | — | ||
| Q2 25 | $0.05 | — | ||
| Q1 25 | $0.06 | — | ||
| Q4 24 | $0.02 | — | ||
| Q3 24 | $0.12 | — | ||
| Q2 24 | $0.21 | — |
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 | $-1.2B | $741.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.8B | $839.0M |
| 总资产 | $21.6B | $10.6B |
| 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DOCWMG
| Q1 26 | $-1.2B | $741.0M | ||
| Q4 25 | $467.5M | $751.0M | ||
| Q3 25 | $91.0M | $532.0M | ||
| Q2 25 | $89.4M | $527.0M | ||
| Q1 25 | $70.6M | $637.0M | ||
| Q4 24 | $119.8M | $802.0M | ||
| Q3 24 | $180.4M | $694.0M | ||
| Q2 24 | $106.9M | $607.0M |
总债务DOCWMG
| Q1 26 | — | — | ||
| Q4 25 | $9.8B | $4.4B | ||
| Q3 25 | $9.1B | $4.4B | ||
| Q2 25 | $9.0B | $4.4B | ||
| Q1 25 | $8.9B | $4.3B | ||
| Q4 24 | $8.7B | $4.0B | ||
| Q3 24 | $8.6B | $4.0B | ||
| Q2 24 | $8.6B | $4.0B |
股东权益DOCWMG
| Q1 26 | $7.8B | $839.0M | ||
| Q4 25 | $7.5B | $720.0M | ||
| Q3 25 | $7.6B | $647.0M | ||
| Q2 25 | $7.9B | $589.0M | ||
| Q1 25 | $8.2B | $567.0M | ||
| Q4 24 | $8.4B | $545.0M | ||
| Q3 24 | $8.6B | $518.0M | ||
| Q2 24 | $8.8B | $483.0M |
总资产DOCWMG
| Q1 26 | $21.6B | $10.6B | ||
| Q4 25 | $20.3B | $10.0B | ||
| Q3 25 | $19.6B | $9.8B | ||
| Q2 25 | $19.8B | $9.8B | ||
| Q1 25 | $19.8B | $9.6B | ||
| Q4 24 | $19.9B | $9.1B | ||
| Q3 24 | $20.0B | $9.2B | ||
| Q2 24 | $20.2B | $8.8B |
负债/权益比DOCWMG
| Q1 26 | — | — | ||
| Q4 25 | 1.31× | 6.07× | ||
| Q3 25 | 1.20× | 6.75× | ||
| Q2 25 | 1.14× | 7.41× | ||
| Q1 25 | 1.08× | 7.57× | ||
| Q4 24 | 1.04× | 7.26× | ||
| Q3 24 | 1.00× | 7.75× | ||
| Q2 24 | 0.98× | 8.24× |
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 | — | $126.0M |
| 自由现金流经营现金流 - 资本支出 | — | $99.0M |
| 自由现金流率自由现金流/营收 | — | 28.0% |
| 资本支出强度资本支出/营收 | 3.4% | 7.6% |
| 现金转化率经营现金流/净利润 | — | 0.70× |
| 过去12个月自由现金流最近4个季度 | — | $729.0M |
8季度趋势，按日历期对齐
经营现金流DOCWMG
| Q1 26 | — | $126.0M | ||
| Q4 25 | $1.3B | $440.0M | ||
| Q3 25 | $315.0M | $231.0M | ||
| Q2 25 | $363.5M | $46.0M | ||
| Q1 25 | $279.4M | $69.0M | ||
| Q4 24 | $1.1B | $332.0M | ||
| Q3 24 | $318.2M | $304.0M | ||
| Q2 24 | $316.2M | $188.0M |
自由现金流DOCWMG
| Q1 26 | — | $99.0M | ||
| Q4 25 | $357.0M | $420.0M | ||
| Q3 25 | — | $203.0M | ||
| Q2 25 | — | $7.0M | ||
| Q1 25 | — | $33.0M | ||
| Q4 24 | $333.7M | $296.0M | ||
| Q3 24 | — | $271.0M | ||
| Q2 24 | — | $160.0M |
自由现金流率DOCWMG
| Q1 26 | — | 28.0% | ||
| Q4 25 | 49.6% | 22.8% | ||
| Q3 25 | — | 10.9% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | 47.8% | 17.8% | ||
| Q3 24 | — | 16.6% | ||
| Q2 24 | — | 10.3% |
资本支出强度DOCWMG
| Q1 26 | 3.4% | 7.6% | ||
| Q4 25 | 124.4% | 1.1% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | 105.6% | 2.2% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.8% |
现金转化率DOCWMG
| Q1 26 | — | 0.70× | ||
| Q4 25 | 10.99× | 2.50× | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | 11.48× | — | ||
| Q1 25 | 6.52× | 1.92× | ||
| Q4 24 | 235.43× | 1.41× | ||
| Q3 24 | 3.71× | 7.41× | ||
| Q2 24 | 2.17× | 1.35× |
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% |
WMG
| Music Publishing Digital | $224.0M | 63% |
| Other | $129.0M | 37% |
