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Healthpeak Properties（DOC）与Zscaler, Inc.（ZS）财务数据对比。点击上方公司名可切换其他公司
Zscaler, Inc.的季度营收约是Healthpeak Properties的1.1倍（$788.1M vs $719.4M），Healthpeak Properties净利率更高（73.2% vs -1.5%，领先74.6%），Zscaler, Inc.同比增速更快（25.5% vs 3.1%），Zscaler, Inc.自由现金流更多（$431.0M vs $357.0M），过去两年Zscaler, Inc.的营收复合增速更高（22.5% 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。
Zscaler是总部位于美国加利福尼亚州圣何塞的云安全企业，专注提供云原生安全服务，为全球各行业企业的网络系统与数据资产提供全方位防护，助力企业在数字化运营过程中抵御各类安全风险，保障业务稳定开展。
DOC vs ZS — 直观对比
营收规模更大
ZS
是对方的1.1倍
$719.4M
营收增速更快
ZS
高出22.4%
3.1%
净利率更高
DOC
高出74.6%
-1.5%
自由现金流更多
ZS
多$74.0M
$357.0M
两年增速更快
ZS
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $719.4M | $788.1M |
| 净利润 | $114.0M | $-11.6M |
| 毛利率 | — | 76.6% |
| 营业利润率 | 17.4% | -4.6% |
| 净利率 | 73.2% | -1.5% |
| 营收同比 | 3.1% | 25.5% |
| 净利润同比 | 2406.4% | 3.6% |
| 每股收益（稀释后） | $0.16 | $-0.07 |
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DOCZS
| Q4 25 | $719.4M | $788.1M | ||
| Q3 25 | $705.9M | $719.2M | ||
| Q2 25 | $694.3M | $678.0M | ||
| Q1 25 | $702.9M | $647.9M | ||
| Q4 24 | $698.0M | $628.0M | ||
| Q3 24 | $700.4M | $592.9M | ||
| Q2 24 | $695.5M | $553.2M | ||
| Q1 24 | $606.6M | $525.0M |
净利润DOCZS
| Q4 25 | $114.0M | $-11.6M | ||
| Q3 25 | $-117.1M | $-17.6M | ||
| Q2 25 | $31.7M | $-4.1M | ||
| Q1 25 | $42.8M | $-7.7M | ||
| Q4 24 | $4.5M | $-12.1M | ||
| Q3 24 | $85.9M | $-14.9M | ||
| Q2 24 | $146.0M | $19.1M | ||
| Q1 24 | $6.7M | $-28.5M |
毛利率DOCZS
| Q4 25 | — | 76.6% | ||
| Q3 25 | 58.6% | 76.1% | ||
| Q2 25 | 60.2% | 77.0% | ||
| Q1 25 | 61.1% | 77.1% | ||
| Q4 24 | 60.3% | 77.5% | ||
| Q3 24 | 60.0% | 78.0% | ||
| Q2 24 | 60.6% | 78.6% | ||
| Q1 24 | 59.8% | 77.7% |
营业利润率DOCZS
| Q4 25 | 17.4% | -4.6% | ||
| Q3 25 | 9.2% | -4.5% | ||
| Q2 25 | 5.7% | -3.7% | ||
| Q1 25 | 7.7% | -6.2% | ||
| Q4 24 | -2.2% | -4.9% | ||
| Q3 24 | 14.1% | -4.5% | ||
| Q2 24 | 22.3% | -0.5% | ||
| Q1 24 | 3.7% | -8.7% |
净利率DOCZS
| Q4 25 | 73.2% | -1.5% | ||
| Q3 25 | -16.6% | -2.4% | ||
| Q2 25 | 4.6% | -0.6% | ||
| Q1 25 | 6.1% | -1.2% | ||
| Q4 24 | 0.7% | -1.9% | ||
| Q3 24 | 12.3% | -2.5% | ||
| Q2 24 | 21.0% | 3.5% | ||
| Q1 24 | 1.1% | -5.4% |
每股收益（稀释后）DOCZS
| Q4 25 | $0.16 | $-0.07 | ||
| Q3 25 | $-0.17 | $-0.11 | ||
| Q2 25 | $0.05 | $-0.03 | ||
| Q1 25 | $0.06 | $-0.05 | ||
| Q4 24 | $0.02 | $-0.08 | ||
| Q3 24 | $0.12 | $-0.09 | ||
| Q2 24 | $0.21 | $0.12 | ||
| Q1 24 | $0.01 | $-0.19 |
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 | $1.3B |
| 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 | $6.5B |
| 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DOCZS
| Q4 25 | $467.5M | $1.3B | ||
| Q3 25 | $91.0M | $2.4B | ||
| Q2 25 | $89.4M | $2.0B | ||
| Q1 25 | $70.6M | $1.8B | ||
| Q4 24 | $119.8M | $1.6B | ||
| Q3 24 | $180.4M | $1.4B | ||
| Q2 24 | $106.9M | $1.3B | ||
| Q1 24 | $101.8M | $1.4B |
总债务DOCZS
| Q4 25 | $9.8B | — | ||
| Q3 25 | $9.1B | — | ||
| Q2 25 | $9.0B | $1.1B | ||
| Q1 25 | $8.9B | $1.1B | ||
| Q4 24 | $8.7B | $1.1B | ||
| Q3 24 | $8.6B | $1.1B | ||
| Q2 24 | $8.6B | $1.1B | ||
| Q1 24 | $8.8B | $1.1B |
股东权益DOCZS
| Q4 25 | $7.5B | $2.0B | ||
| Q3 25 | $7.6B | $1.8B | ||
| Q2 25 | $7.9B | $1.8B | ||
| Q1 25 | $8.2B | $1.6B | ||
| Q4 24 | $8.4B | $1.4B | ||
| Q3 24 | $8.6B | $1.3B | ||
| Q2 24 | $8.8B | $1.1B | ||
| Q1 24 | $8.9B | $958.9M |
总资产DOCZS
| Q4 25 | $20.3B | $6.5B | ||
| Q3 25 | $19.6B | $6.4B | ||
| Q2 25 | $19.8B | $5.3B | ||
| Q1 25 | $19.8B | $5.0B | ||
| Q4 24 | $19.9B | $4.7B | ||
| Q3 24 | $20.0B | $4.7B | ||
| Q2 24 | $20.2B | $4.2B | ||
| Q1 24 | $20.5B | $3.9B |
负债/权益比DOCZS
| Q4 25 | 1.31× | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.14× | 0.64× | ||
| Q1 25 | 1.08× | 0.71× | ||
| Q4 24 | 1.04× | 0.80× | ||
| Q3 24 | 1.00× | 0.90× | ||
| Q2 24 | 0.98× | 1.04× | ||
| Q1 24 | 0.99× | 1.19× |
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 | $448.3M |
| 自由现金流经营现金流 - 资本支出 | $357.0M | $431.0M |
| 自由现金流率自由现金流/营收 | 49.6% | 54.7% |
| 资本支出强度资本支出/营收 | 124.4% | 2.2% |
| 现金转化率经营现金流/净利润 | 10.99× | — |
| 过去12个月自由现金流最近4个季度 | — | $924.9M |
8季度趋势，按日历期对齐
经营现金流DOCZS
| Q4 25 | $1.3B | $448.3M | ||
| Q3 25 | $315.0M | $250.6M | ||
| Q2 25 | $363.5M | $211.1M | ||
| Q1 25 | $279.4M | $179.4M | ||
| Q4 24 | $1.1B | $331.3M | ||
| Q3 24 | $318.2M | $203.6M | ||
| Q2 24 | $316.2M | $173.4M | ||
| Q1 24 | $152.6M | $142.1M |
自由现金流DOCZS
| Q4 25 | $357.0M | $431.0M | ||
| Q3 25 | — | $190.6M | ||
| Q2 25 | — | $138.9M | ||
| Q1 25 | — | $164.4M | ||
| Q4 24 | $333.7M | $314.3M | ||
| Q3 24 | — | $154.2M | ||
| Q2 24 | — | $137.8M | ||
| Q1 24 | — | $111.2M |
自由现金流率DOCZS
| Q4 25 | 49.6% | 54.7% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | — | 20.5% | ||
| Q1 25 | — | 25.4% | ||
| Q4 24 | 47.8% | 50.1% | ||
| Q3 24 | — | 26.0% | ||
| Q2 24 | — | 24.9% | ||
| Q1 24 | — | 21.2% |
资本支出强度DOCZS
| Q4 25 | 124.4% | 2.2% | ||
| Q3 25 | — | 8.3% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | 105.6% | 2.7% | ||
| Q3 24 | — | 8.3% | ||
| Q2 24 | — | 6.4% | ||
| Q1 24 | — | 5.9% |
现金转化率DOCZS
| Q4 25 | 10.99× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 11.48× | — | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | 235.43× | — | ||
| Q3 24 | 3.71× | — | ||
| Q2 24 | 2.17× | 9.07× | ||
| 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
