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西蒙地产集团（ELS）与H2O AMERICA（HTO）财务数据对比。点击上方公司名可切换其他公司
西蒙地产集团的季度营收约是H2O AMERICA的2.0倍（$397.6M vs $199.4M），西蒙地产集团同比增速更快（6.3% vs 1.5%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs 2.3%）
西蒙地产集团是美国头部房地产投资信托企业，投资范围涵盖购物中心、奥特莱斯及社区生活中心等商业地产业态，是美国规模最大的购物中心持有方，总部位于印第安纳州印第安纳波利斯，截至2024年12月末共持有232处物业权益。
H2O Wireless是美国的预付费移动通信服务商，依托AT&T网络运营，隶属于MVNO（移动虚拟网络运营商）Locus通信，自2019年起Locus成为Telrite控股的子公司，此前2010年起曾是KDDI美国旗下资产。该品牌主打无限制套餐服务，支持用户自带或购买无锁智能手机入网，AT&T合约机/锁网机也可兼容使用。
ELS vs HTO — 直观对比
营收规模更大
ELS
是对方的2.0倍
$199.4M
营收增速更快
ELS
高出4.9%
1.5%
两年增速更快
HTO
近两年复合增速
2.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $397.6M | $199.4M |
| 净利润 | — | $16.2M |
| 毛利率 | — | — |
| 营业利润率 | — | 16.6% |
| 净利率 | — | 8.1% |
| 营收同比 | 6.3% | 1.5% |
| 净利润同比 | — | -29.2% |
| 每股收益（稀释后） | $0.56 | $0.45 |
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ELSHTO
| Q1 26 | $397.6M | — | ||
| Q4 25 | $373.9M | $199.4M | ||
| Q3 25 | $393.3M | $243.5M | ||
| Q2 25 | $376.9M | $197.8M | ||
| Q1 25 | $387.3M | $164.9M | ||
| Q4 24 | $372.3M | $196.5M | ||
| Q3 24 | $387.3M | $216.7M | ||
| Q2 24 | $380.0M | $173.1M |
净利润ELSHTO
| Q1 26 | — | — | ||
| Q4 25 | $103.8M | $16.2M | ||
| Q3 25 | $100.4M | $45.1M | ||
| Q2 25 | $83.5M | $24.7M | ||
| Q1 25 | $114.4M | $16.6M | ||
| Q4 24 | $100.6M | $22.9M | ||
| Q3 24 | $86.9M | $38.7M | ||
| Q2 24 | $82.1M | $20.7M |
营业利润率ELSHTO
| Q1 26 | — | — | ||
| Q4 25 | 26.5% | 16.6% | ||
| Q3 25 | 25.1% | 26.5% | ||
| Q2 25 | 22.3% | 22.2% | ||
| Q1 25 | 28.3% | 21.8% | ||
| Q4 24 | 27.2% | 22.2% | ||
| Q3 24 | 21.4% | 26.9% | ||
| Q2 24 | 21.5% | 23.4% |
净利率ELSHTO
| Q1 26 | — | — | ||
| Q4 25 | 27.8% | 8.1% | ||
| Q3 25 | 25.5% | 18.5% | ||
| Q2 25 | 22.2% | 12.5% | ||
| Q1 25 | 29.5% | 10.0% | ||
| Q4 24 | 27.0% | 11.7% | ||
| Q3 24 | 22.4% | 17.8% | ||
| Q2 24 | 21.6% | 12.0% |
每股收益（稀释后）ELSHTO
| Q1 26 | $0.56 | — | ||
| Q4 25 | $0.52 | $0.45 | ||
| Q3 25 | $0.50 | $1.27 | ||
| Q2 25 | $0.42 | $0.71 | ||
| Q1 25 | $0.57 | $0.49 | ||
| Q4 24 | $0.51 | $0.70 | ||
| Q3 24 | $0.44 | $1.17 | ||
| Q2 24 | $0.42 | $0.64 |
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 | — | $20.7M |
| 总债务越低越好 | — | $1.9B |
| 股东权益账面价值 | $1.8B | $1.5B |
| 总资产 | $5.7M | $5.1B |
| 负债/权益比越低杠杆越低 | — | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资ELSHTO
| Q1 26 | — | — | ||
| Q4 25 | — | $20.7M | ||
| Q3 25 | — | $11.3M | ||
| Q2 25 | — | $19.8M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | — | $11.1M | ||
| Q3 24 | — | $4.0M | ||
| Q2 24 | — | $22.8M |
总债务ELSHTO
| Q1 26 | — | — | ||
| Q4 25 | $3.3B | $1.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.2B | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ELSHTO
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $1.7B | $1.5B | ||
| Q1 25 | $1.7B | $1.4B | ||
| Q4 24 | $1.7B | $1.4B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.4B | $1.3B |
总资产ELSHTO
| Q1 26 | $5.7M | — | ||
| Q4 25 | $5.7B | $5.1B | ||
| Q3 25 | $5.7B | $5.0B | ||
| Q2 25 | $5.7B | $4.8B | ||
| Q1 25 | $5.6B | $4.7B | ||
| Q4 24 | $5.6B | $4.7B | ||
| Q3 24 | $5.6B | $4.6B | ||
| Q2 24 | $5.6B | $4.4B |
负债/权益比ELSHTO
| Q1 26 | — | — | ||
| Q4 25 | 1.91× | 1.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.84× | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $63.5M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 3.92× |
| 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ELSHTO
| Q1 26 | — | — | ||
| Q4 25 | $571.1M | $63.5M | ||
| Q3 25 | $147.0M | $77.3M | ||
| Q2 25 | $131.3M | $60.8M | ||
| Q1 25 | $193.4M | $43.2M | ||
| Q4 24 | $596.7M | $41.5M | ||
| Q3 24 | $149.5M | $53.5M | ||
| Q2 24 | $143.1M | $49.3M |
自由现金流ELSHTO
| Q1 26 | — | — | ||
| Q4 25 | $334.1M | — | ||
| Q3 25 | $75.7M | — | ||
| Q2 25 | $71.8M | — | ||
| Q1 25 | $148.2M | — | ||
| Q4 24 | $355.4M | — | ||
| Q3 24 | $91.1M | — | ||
| Q2 24 | $80.6M | — |
自由现金流率ELSHTO
| Q1 26 | — | — | ||
| Q4 25 | 89.4% | — | ||
| Q3 25 | 19.3% | — | ||
| Q2 25 | 19.1% | — | ||
| Q1 25 | 38.3% | — | ||
| Q4 24 | 95.5% | — | ||
| Q3 24 | 23.5% | — | ||
| Q2 24 | 21.2% | — |
资本支出强度ELSHTO
| Q1 26 | — | — | ||
| Q4 25 | 63.4% | — | ||
| Q3 25 | 18.1% | — | ||
| Q2 25 | 15.8% | — | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | 64.8% | — | ||
| Q3 24 | 15.1% | — | ||
| Q2 24 | 16.5% | — |
现金转化率ELSHTO
| Q1 26 | — | — | ||
| Q4 25 | 5.50× | 3.92× | ||
| Q3 25 | 1.46× | 1.71× | ||
| Q2 25 | 1.57× | 2.47× | ||
| Q1 25 | 1.69× | 2.61× | ||
| Q4 24 | 5.93× | 1.81× | ||
| Q3 24 | 1.72× | 1.39× | ||
| Q2 24 | 1.74× | 2.38× |
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
ELS
| Rental income | $339.0M | 85% |
| Other | $37.2M | 9% |
| Annual membership subscriptions | $18.3M | 5% |
| Membership upgrade revenue | $3.1M | 1% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
