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Healthpeak Properties（DOC）与W. P. Carey Inc.（WPC）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W. P. Carey Inc.的1.6倍（$719.4M vs $444.5M），Healthpeak Properties净利率更高（73.2% vs 33.4%，领先39.8%），W. P. Carey Inc.同比增速更快（9.4% vs 3.1%），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs 6.8%）
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。
W.P.凯里是一家房地产投资信托企业，主打投资以三净租赁模式租予单一租户的物业。公司注册地位于美国马里兰州，核心办公地点设在纽约市，深耕商业地产投资领域，拥有成熟的运营经验与优质的项目资源。
DOC vs WPC — 直观对比
营收规模更大
DOC
是对方的1.6倍
$444.5M
营收增速更快
WPC
高出6.4%
3.1%
净利率更高
DOC
高出39.8%
33.4%
两年增速更快
DOC
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $444.5M |
| 净利润 | $114.0M | $148.3M |
| 毛利率 | — | — |
| 营业利润率 | 17.4% | 34.5% |
| 净利率 | 73.2% | 33.4% |
| 营收同比 | 3.1% | 9.4% |
| 净利润同比 | 2406.4% | 215.4% |
| 每股收益（稀释后） | $0.16 | — |
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DOCWPC
| Q4 25 | $719.4M | $444.5M | ||
| Q3 25 | $705.9M | $431.3M | ||
| Q2 25 | $694.3M | $430.8M | ||
| Q1 25 | $702.9M | $409.9M | ||
| Q4 24 | $698.0M | $406.2M | ||
| Q3 24 | $700.4M | $397.4M | ||
| Q2 24 | $695.5M | $389.7M | ||
| Q1 24 | $606.6M | $389.8M |
净利润DOCWPC
| Q4 25 | $114.0M | $148.3M | ||
| Q3 25 | $-117.1M | $141.0M | ||
| Q2 25 | $31.7M | $51.2M | ||
| Q1 25 | $42.8M | $125.8M | ||
| Q4 24 | $4.5M | $47.0M | ||
| Q3 24 | $85.9M | $111.7M | ||
| Q2 24 | $146.0M | $142.9M | ||
| Q1 24 | $6.7M | $159.2M |
毛利率DOCWPC
| 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% | — | ||
| Q1 24 | 59.8% | — |
营业利润率DOCWPC
| Q4 25 | 17.4% | 34.5% | ||
| Q3 25 | 9.2% | 34.7% | ||
| Q2 25 | 5.7% | 15.0% | ||
| Q1 25 | 7.7% | 33.5% | ||
| Q4 24 | -2.2% | 13.5% | ||
| Q3 24 | 14.1% | 30.4% | ||
| Q2 24 | 22.3% | 38.3% | ||
| Q1 24 | 3.7% | 43.0% |
净利率DOCWPC
| Q4 25 | 73.2% | 33.4% | ||
| Q3 25 | -16.6% | 32.7% | ||
| Q2 25 | 4.6% | 11.9% | ||
| Q1 25 | 6.1% | 30.7% | ||
| Q4 24 | 0.7% | 11.6% | ||
| Q3 24 | 12.3% | 28.1% | ||
| Q2 24 | 21.0% | 36.7% | ||
| Q1 24 | 1.1% | 40.8% |
每股收益（稀释后）DOCWPC
| 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 | — | ||
| Q1 24 | $0.01 | — |
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 | $155.3M |
| 总债务越低越好 | $9.8B | $8.7B |
| 股东权益账面价值 | $7.5B | $8.1B |
| 总资产 | $20.3B | $18.0B |
| 负债/权益比越低杠杆越低 | 1.31× | 1.07× |
8季度趋势，按日历期对齐
现金及短期投资DOCWPC
| Q4 25 | $467.5M | $155.3M | ||
| Q3 25 | $91.0M | $249.0M | ||
| Q2 25 | $89.4M | $244.8M | ||
| Q1 25 | $70.6M | $187.8M | ||
| Q4 24 | $119.8M | $640.4M | ||
| Q3 24 | $180.4M | $818.2M | ||
| Q2 24 | $106.9M | $1.1B | ||
| Q1 24 | $101.8M | $777.0M |
总债务DOCWPC
| Q4 25 | $9.8B | $8.7B | ||
| Q3 25 | $9.1B | $8.7B | ||
| Q2 25 | $9.0B | $8.6B | ||
| Q1 25 | $8.9B | $7.9B | ||
| Q4 24 | $8.7B | $8.0B | ||
| Q3 24 | $8.6B | $8.0B | ||
| Q2 24 | $8.6B | $8.1B | ||
| Q1 24 | $8.8B | $7.9B |
股东权益DOCWPC
| Q4 25 | $7.5B | $8.1B | ||
| Q3 25 | $7.6B | $8.2B | ||
| Q2 25 | $7.9B | $8.2B | ||
| Q1 25 | $8.2B | $8.4B | ||
| Q4 24 | $8.4B | $8.4B | ||
| Q3 24 | $8.6B | $8.6B | ||
| Q2 24 | $8.8B | $8.6B | ||
| Q1 24 | $8.9B | $8.7B |
总资产DOCWPC
| Q4 25 | $20.3B | $18.0B | ||
| Q3 25 | $19.6B | $18.0B | ||
| Q2 25 | $19.8B | $18.0B | ||
| Q1 25 | $19.8B | $17.3B | ||
| Q4 24 | $19.9B | $17.5B | ||
| Q3 24 | $20.0B | $17.6B | ||
| Q2 24 | $20.2B | $17.8B | ||
| Q1 24 | $20.5B | $17.6B |
负债/权益比DOCWPC
| Q4 25 | 1.31× | 1.07× | ||
| Q3 25 | 1.20× | 1.06× | ||
| Q2 25 | 1.14× | 1.05× | ||
| Q1 25 | 1.08× | 0.94× | ||
| Q4 24 | 1.04× | 0.95× | ||
| Q3 24 | 1.00× | 0.93× | ||
| Q2 24 | 0.98× | 0.94× | ||
| Q1 24 | 0.99× | 0.91× |
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 | $304.6M |
| 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× | 2.05× |
| 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DOCWPC
| Q4 25 | $1.3B | $304.6M | ||
| Q3 25 | $315.0M | $300.5M | ||
| Q2 25 | $363.5M | $404.0M | ||
| Q1 25 | $279.4M | $273.2M | ||
| Q4 24 | $1.1B | $296.3M | ||
| Q3 24 | $318.2M | $280.2M | ||
| Q2 24 | $316.2M | $221.0M | ||
| Q1 24 | $152.6M | $1.0B |
自由现金流DOCWPC
| 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DOCWPC
| 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DOCWPC
| 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DOCWPC
| Q4 25 | 10.99× | 2.05× | ||
| Q3 25 | — | 2.13× | ||
| Q2 25 | 11.48× | 7.89× | ||
| Q1 25 | 6.52× | 2.17× | ||
| Q4 24 | 235.43× | 6.30× | ||
| Q3 24 | 3.71× | 2.51× | ||
| Q2 24 | 2.17× | 1.55× | ||
| Q1 24 | 22.85× | 6.50× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
