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Healthpeak Properties（DOC）与ZILLOW GROUP, INC.（ZG）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ZILLOW GROUP, INC.的1.1倍（$719.4M vs $654.0M），Healthpeak Properties净利率更高（73.2% vs 0.5%，领先72.7%），ZILLOW GROUP, INC.同比增速更快（18.1% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $44.0M），过去两年ZILLOW GROUP, INC.的营收复合增速更高（11.2% 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。
Zillow集团是美国头部房地产科技线上平台企业，2006年由前微软高管里奇·巴顿、劳埃德·弗林克等联合创立，业务涵盖房产信息查询、交易配套服务等，是全球房产科技领域的知名代表企业。
DOC vs ZG — 直观对比
营收规模更大
DOC
是对方的1.1倍
$654.0M
营收增速更快
ZG
高出15.0%
3.1%
净利率更高
DOC
高出72.7%
0.5%
自由现金流更多
DOC
多$313.0M
$44.0M
两年增速更快
ZG
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $654.0M |
| 净利润 | $114.0M | $3.0M |
| 毛利率 | — | 72.8% |
| 营业利润率 | 17.4% | -1.7% |
| 净利率 | 73.2% | 0.5% |
| 营收同比 | 3.1% | 18.1% |
| 净利润同比 | 2406.4% | 105.8% |
| 每股收益（稀释后） | $0.16 | $0.01 |
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DOCZG
| Q4 25 | $719.4M | $654.0M | ||
| Q3 25 | $705.9M | $676.0M | ||
| Q2 25 | $694.3M | $655.0M | ||
| Q1 25 | $702.9M | $598.0M | ||
| Q4 24 | $698.0M | $554.0M | ||
| Q3 24 | $700.4M | $581.0M | ||
| Q2 24 | $695.5M | $572.0M | ||
| Q1 24 | $606.6M | $529.0M |
净利润DOCZG
| Q4 25 | $114.0M | $3.0M | ||
| Q3 25 | $-117.1M | $10.0M | ||
| Q2 25 | $31.7M | $2.0M | ||
| Q1 25 | $42.8M | $8.0M | ||
| Q4 24 | $4.5M | $-52.0M | ||
| Q3 24 | $85.9M | $-20.0M | ||
| Q2 24 | $146.0M | $-17.0M | ||
| Q1 24 | $6.7M | $-23.0M |
毛利率DOCZG
| Q4 25 | — | 72.8% | ||
| Q3 25 | 58.6% | 72.6% | ||
| Q2 25 | 60.2% | 74.7% | ||
| Q1 25 | 61.1% | 76.8% | ||
| Q4 24 | 60.3% | 75.8% | ||
| Q3 24 | 60.0% | 75.9% | ||
| Q2 24 | 60.6% | 77.3% | ||
| Q1 24 | 59.8% | 76.7% |
营业利润率DOCZG
| Q4 25 | 17.4% | -1.7% | ||
| Q3 25 | 9.2% | -0.4% | ||
| Q2 25 | 5.7% | -1.7% | ||
| Q1 25 | 7.7% | -1.5% | ||
| Q4 24 | -2.2% | -12.5% | ||
| Q3 24 | 14.1% | -7.7% | ||
| Q2 24 | 22.3% | -6.6% | ||
| Q1 24 | 3.7% | -8.5% |
净利率DOCZG
| Q4 25 | 73.2% | 0.5% | ||
| Q3 25 | -16.6% | 1.5% | ||
| Q2 25 | 4.6% | 0.3% | ||
| Q1 25 | 6.1% | 1.3% | ||
| Q4 24 | 0.7% | -9.4% | ||
| Q3 24 | 12.3% | -3.4% | ||
| Q2 24 | 21.0% | -3.0% | ||
| Q1 24 | 1.1% | -4.3% |
每股收益（稀释后）DOCZG
| Q4 25 | $0.16 | $0.01 | ||
| Q3 25 | $-0.17 | $0.04 | ||
| Q2 25 | $0.05 | $0.01 | ||
| Q1 25 | $0.06 | $0.03 | ||
| Q4 24 | $0.02 | $-0.23 | ||
| Q3 24 | $0.12 | $-0.08 | ||
| Q2 24 | $0.21 | $-0.07 | ||
| Q1 24 | $0.01 | $-0.10 |
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 | $768.0M |
| 总债务越低越好 | $9.8B | — |
| 股东权益账面价值 | $7.5B | $4.9B |
| 总资产 | $20.3B | $5.7B |
| 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DOCZG
| Q4 25 | $467.5M | $768.0M | ||
| Q3 25 | $91.0M | $874.0M | ||
| Q2 25 | $89.4M | $587.0M | ||
| Q1 25 | $70.6M | $914.0M | ||
| Q4 24 | $119.8M | $1.1B | ||
| Q3 24 | $180.4M | $1.1B | ||
| Q2 24 | $106.9M | $1.2B | ||
| Q1 24 | $101.8M | $1.4B |
总债务DOCZG
| 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DOCZG
| Q4 25 | $7.5B | $4.9B | ||
| Q3 25 | $7.6B | $5.0B | ||
| Q2 25 | $7.9B | $4.7B | ||
| Q1 25 | $8.2B | $4.8B | ||
| Q4 24 | $8.4B | $4.8B | ||
| Q3 24 | $8.6B | $4.7B | ||
| Q2 24 | $8.8B | $4.5B | ||
| Q1 24 | $8.9B | $4.7B |
总资产DOCZG
| Q4 25 | $20.3B | $5.7B | ||
| Q3 25 | $19.6B | $5.7B | ||
| Q2 25 | $19.8B | $5.4B | ||
| Q1 25 | $19.8B | $5.7B | ||
| Q4 24 | $19.9B | $5.8B | ||
| Q3 24 | $20.0B | $6.2B | ||
| Q2 24 | $20.2B | $6.6B | ||
| Q1 24 | $20.5B | $6.8B |
负债/权益比DOCZG
| 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 | $72.0M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $44.0M |
| 自由现金流率自由现金流/营收 | 49.6% | 6.7% |
| 资本支出强度资本支出/营收 | 124.4% | 4.3% |
| 现金转化率经营现金流/净利润 | 10.99× | 24.00× |
| 过去12个月自由现金流最近4个季度 | — | $235.0M |
8季度趋势，按日历期对齐
经营现金流DOCZG
| Q4 25 | $1.3B | $72.0M | ||
| Q3 25 | $315.0M | $105.0M | ||
| Q2 25 | $363.5M | $87.0M | ||
| Q1 25 | $279.4M | $104.0M | ||
| Q4 24 | $1.1B | $122.0M | ||
| Q3 24 | $318.2M | $171.0M | ||
| Q2 24 | $316.2M | $55.0M | ||
| Q1 24 | $152.6M | $80.0M |
自由现金流DOCZG
| Q4 25 | $357.0M | $44.0M | ||
| Q3 25 | — | $73.0M | ||
| Q2 25 | — | $50.0M | ||
| Q1 25 | — | $68.0M | ||
| Q4 24 | $333.7M | $88.0M | ||
| Q3 24 | — | $138.0M | ||
| Q2 24 | — | $18.0M | ||
| Q1 24 | — | $41.0M |
自由现金流率DOCZG
| Q4 25 | 49.6% | 6.7% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | — | 11.4% | ||
| Q4 24 | 47.8% | 15.9% | ||
| Q3 24 | — | 23.8% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 7.8% |
资本支出强度DOCZG
| Q4 25 | 124.4% | 4.3% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 5.6% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | 105.6% | 6.1% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | — | 7.4% |
现金转化率DOCZG
| Q4 25 | 10.99× | 24.00× | ||
| Q3 25 | — | 10.50× | ||
| Q2 25 | 11.48× | 43.50× | ||
| Q1 25 | 6.52× | 13.00× | ||
| Q4 24 | 235.43× | — | ||
| Q3 24 | 3.71× | — | ||
| Q2 24 | 2.17× | — | ||
| Q1 24 | 22.85× | — |
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
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
