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Healthpeak Properties（DOC）与沃茨水工业（WTS）财务数据对比。点击上方公司名可切换其他公司
Healthpeak Properties的季度营收约是沃茨水工业的1.2倍（$719.4M vs $625.1M），Healthpeak Properties净利率更高（73.2% vs 13.4%，领先59.8%），沃茨水工业同比增速更快（15.7% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $140.3M），过去两年Healthpeak Properties的营收复合增速更高（8.9% vs 4.6%）
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。
沃茨水工业旗下AERCO是暖通管道领域的商用冷凝锅炉、高效热水设备及能量回收系统供应商，服务覆盖教育、住宿、政府、办公楼、医疗、工业、多户型住宅等多元市场，1949年推出行业首款半即热式无罐蒸汽热水器，1988年推出首款冷凝全调制设备。
DOC vs WTS — 直观对比
营收规模更大
DOC
是对方的1.2倍
$625.1M
营收增速更快
WTS
高出12.6%
3.1%
净利率更高
DOC
高出59.8%
13.4%
自由现金流更多
DOC
多$216.7M
$140.3M
两年增速更快
DOC
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $625.1M |
| 净利润 | $114.0M | $83.7M |
| 毛利率 | — | 49.5% |
| 营业利润率 | 17.4% | 18.2% |
| 净利率 | 73.2% | 13.4% |
| 营收同比 | 3.1% | 15.7% |
| 净利润同比 | 2406.4% | 24.0% |
| 每股收益（稀释后） | $0.16 | $2.50 |
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DOCWTS
| Q4 25 | $719.4M | $625.1M | ||
| Q3 25 | $705.9M | $611.7M | ||
| Q2 25 | $694.3M | $643.7M | ||
| Q1 25 | $702.9M | $558.0M | ||
| Q4 24 | $698.0M | $540.4M | ||
| Q3 24 | $700.4M | $543.6M | ||
| Q2 24 | $695.5M | $597.3M | ||
| Q1 24 | $606.6M | $570.9M |
净利润DOCWTS
| Q4 25 | $114.0M | $83.7M | ||
| Q3 25 | $-117.1M | $82.2M | ||
| Q2 25 | $31.7M | $100.9M | ||
| Q1 25 | $42.8M | $74.0M | ||
| Q4 24 | $4.5M | $67.5M | ||
| Q3 24 | $85.9M | $69.1M | ||
| Q2 24 | $146.0M | $82.0M | ||
| Q1 24 | $6.7M | $72.6M |
毛利率DOCWTS
| Q4 25 | — | 49.5% | ||
| Q3 25 | 58.6% | 48.8% | ||
| Q2 25 | 60.2% | 50.6% | ||
| Q1 25 | 61.1% | 48.8% | ||
| Q4 24 | 60.3% | 46.7% | ||
| Q3 24 | 60.0% | 47.3% | ||
| Q2 24 | 60.6% | 47.7% | ||
| Q1 24 | 59.8% | 46.9% |
营业利润率DOCWTS
| Q4 25 | 17.4% | 18.2% | ||
| Q3 25 | 9.2% | 18.2% | ||
| Q2 25 | 5.7% | 21.0% | ||
| Q1 25 | 7.7% | 15.7% | ||
| Q4 24 | -2.2% | 16.5% | ||
| Q3 24 | 14.1% | 17.1% | ||
| Q2 24 | 22.3% | 18.7% | ||
| Q1 24 | 3.7% | 16.9% |
净利率DOCWTS
| Q4 25 | 73.2% | 13.4% | ||
| Q3 25 | -16.6% | 13.4% | ||
| Q2 25 | 4.6% | 15.7% | ||
| Q1 25 | 6.1% | 13.3% | ||
| Q4 24 | 0.7% | 12.5% | ||
| Q3 24 | 12.3% | 12.7% | ||
| Q2 24 | 21.0% | 13.7% | ||
| Q1 24 | 1.1% | 12.7% |
每股收益（稀释后）DOCWTS
| Q4 25 | $0.16 | $2.50 | ||
| Q3 25 | $-0.17 | $2.45 | ||
| Q2 25 | $0.05 | $3.01 | ||
| Q1 25 | $0.06 | $2.21 | ||
| Q4 24 | $0.02 | $2.02 | ||
| Q3 24 | $0.12 | $2.06 | ||
| Q2 24 | $0.21 | $2.44 | ||
| Q1 24 | $0.01 | $2.17 |
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 | $405.5M |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $2.0B |
| 总资产 | $20.3B | $2.9B |
| 负债/权益比越低杠杆越低 | 1.31× | — |
8季度趋势，按日历期对齐
现金及短期投资DOCWTS
| Q4 25 | $467.5M | $405.5M | ||
| Q3 25 | $91.0M | $457.7M | ||
| Q2 25 | $89.4M | $369.3M | ||
| Q1 25 | $70.6M | $336.8M | ||
| Q4 24 | $119.8M | $386.9M | ||
| Q3 24 | $180.4M | $303.9M | ||
| Q2 24 | $106.9M | $279.4M | ||
| Q1 24 | $101.8M | $237.1M |
总债务DOCWTS
| Q4 25 | $9.8B | — | ||
| Q3 25 | $9.1B | — | ||
| Q2 25 | $9.0B | — | ||
| Q1 25 | $8.9B | — | ||
| Q4 24 | $8.7B | — | ||
| Q3 24 | $8.6B | — | ||
| Q2 24 | $8.6B | — | ||
| Q1 24 | $8.8B | — |
股东权益DOCWTS
| Q4 25 | $7.5B | $2.0B | ||
| Q3 25 | $7.6B | $2.0B | ||
| Q2 25 | $7.9B | $1.9B | ||
| Q1 25 | $8.2B | $1.8B | ||
| Q4 24 | $8.4B | $1.7B | ||
| Q3 24 | $8.6B | $1.7B | ||
| Q2 24 | $8.8B | $1.6B | ||
| Q1 24 | $8.9B | $1.6B |
总资产DOCWTS
| Q4 25 | $20.3B | $2.9B | ||
| Q3 25 | $19.6B | $2.7B | ||
| Q2 25 | $19.8B | $2.6B | ||
| Q1 25 | $19.8B | $2.5B | ||
| Q4 24 | $19.9B | $2.4B | ||
| Q3 24 | $20.0B | $2.4B | ||
| Q2 24 | $20.2B | $2.4B | ||
| Q1 24 | $20.5B | $2.3B |
负债/权益比DOCWTS
| Q4 25 | 1.31× | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.08× | — | ||
| Q4 24 | 1.04× | — | ||
| 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 | $154.7M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $140.3M |
| 自由现金流率自由现金流/营收 | 49.6% | 22.4% |
| 资本支出强度资本支出/营收 | 124.4% | 2.3% |
| 现金转化率经营现金流/净利润 | 10.99× | 1.85× |
| 过去12个月自由现金流最近4个季度 | — | $356.3M |
8季度趋势，按日历期对齐
经营现金流DOCWTS
| Q4 25 | $1.3B | $154.7M | ||
| Q3 25 | $315.0M | $122.4M | ||
| Q2 25 | $363.5M | $69.7M | ||
| Q1 25 | $279.4M | $55.2M | ||
| Q4 24 | $1.1B | $139.5M | ||
| Q3 24 | $318.2M | $90.7M | ||
| Q2 24 | $316.2M | $85.3M | ||
| Q1 24 | $152.6M | $45.6M |
自由现金流DOCWTS
| Q4 25 | $357.0M | $140.3M | ||
| Q3 25 | — | $110.9M | ||
| Q2 25 | — | $59.5M | ||
| Q1 25 | — | $45.6M | ||
| Q4 24 | $333.7M | $127.5M | ||
| Q3 24 | — | $84.3M | ||
| Q2 24 | — | $78.5M | ||
| Q1 24 | — | $35.5M |
自由现金流率DOCWTS
| Q4 25 | 49.6% | 22.4% | ||
| Q3 25 | — | 18.1% | ||
| Q2 25 | — | 9.2% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | 47.8% | 23.6% | ||
| Q3 24 | — | 15.5% | ||
| Q2 24 | — | 13.1% | ||
| Q1 24 | — | 6.2% |
资本支出强度DOCWTS
| Q4 25 | 124.4% | 2.3% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | 105.6% | 2.2% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 1.8% |
现金转化率DOCWTS
| Q4 25 | 10.99× | 1.85× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | 11.48× | 0.69× | ||
| Q1 25 | 6.52× | 0.75× | ||
| Q4 24 | 235.43× | 2.07× | ||
| Q3 24 | 3.71× | 1.31× | ||
| Q2 24 | 2.17× | 1.04× | ||
| Q1 24 | 22.85× | 0.63× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
