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西蒙地产集团（ELS）与PTC Inc.（PTC）财务数据对比。点击上方公司名可切换其他公司
PTC Inc.的季度营收约是西蒙地产集团的1.7倍（$685.8M vs $397.6M），PTC Inc.同比增速更快（21.4% vs 6.3%），过去两年PTC Inc.的营收复合增速更高（6.6% 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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
ELS vs PTC — 直观对比
营收规模更大
PTC
是对方的1.7倍
$397.6M
营收增速更快
PTC
高出15.0%
6.3%
两年增速更快
PTC
近两年复合增速
2.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $397.6M | $685.8M |
| 净利润 | — | $166.5M |
| 毛利率 | — | 82.8% |
| 营业利润率 | — | 32.2% |
| 净利率 | — | 24.3% |
| 营收同比 | 6.3% | 21.4% |
| 净利润同比 | — | 102.5% |
| 每股收益（稀释后） | $0.56 | $1.39 |
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ELSPTC
| Q1 26 | $397.6M | — | ||
| Q4 25 | $373.9M | $685.8M | ||
| Q3 25 | $393.3M | $893.8M | ||
| Q2 25 | $376.9M | $643.9M | ||
| Q1 25 | $387.3M | $636.4M | ||
| Q4 24 | $372.3M | $565.1M | ||
| Q3 24 | $387.3M | $626.5M | ||
| Q2 24 | $380.0M | $518.6M |
净利润ELSPTC
| Q1 26 | — | — | ||
| Q4 25 | $103.8M | $166.5M | ||
| Q3 25 | $100.4M | $347.8M | ||
| Q2 25 | $83.5M | $141.3M | ||
| Q1 25 | $114.4M | $162.6M | ||
| Q4 24 | $100.6M | $82.2M | ||
| Q3 24 | $86.9M | $126.5M | ||
| Q2 24 | $82.1M | $69.0M |
毛利率ELSPTC
| Q1 26 | — | — | ||
| Q4 25 | — | 82.8% | ||
| Q3 25 | — | 86.9% | ||
| Q2 25 | — | 82.9% | ||
| Q1 25 | — | 83.3% | ||
| Q4 24 | — | 80.2% | ||
| Q3 24 | — | 82.0% | ||
| Q2 24 | — | 78.4% |
营业利润率ELSPTC
| Q1 26 | — | — | ||
| Q4 25 | 26.5% | 32.2% | ||
| Q3 25 | 25.1% | 48.5% | ||
| Q2 25 | 22.3% | 32.6% | ||
| Q1 25 | 28.3% | 35.1% | ||
| Q4 24 | 27.2% | 20.4% | ||
| Q3 24 | 21.4% | 31.0% | ||
| Q2 24 | 21.5% | 18.5% |
净利率ELSPTC
| Q1 26 | — | — | ||
| Q4 25 | 27.8% | 24.3% | ||
| Q3 25 | 25.5% | 38.9% | ||
| Q2 25 | 22.2% | 21.9% | ||
| Q1 25 | 29.5% | 25.6% | ||
| Q4 24 | 27.0% | 14.6% | ||
| Q3 24 | 22.4% | 20.2% | ||
| Q2 24 | 21.6% | 13.3% |
每股收益（稀释后）ELSPTC
| Q1 26 | $0.56 | — | ||
| Q4 25 | $0.52 | $1.39 | ||
| Q3 25 | $0.50 | $2.88 | ||
| Q2 25 | $0.42 | $1.17 | ||
| Q1 25 | $0.57 | $1.35 | ||
| Q4 24 | $0.51 | $0.68 | ||
| Q3 24 | $0.44 | $1.05 | ||
| Q2 24 | $0.42 | $0.57 |
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 | — | $209.7M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $1.8B | $3.8B |
| 总资产 | $5.7M | $6.4B |
| 负债/权益比越低杠杆越低 | — | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资ELSPTC
| Q1 26 | — | — | ||
| Q4 25 | — | $209.7M | ||
| Q3 25 | — | $184.4M | ||
| Q2 25 | — | $199.3M | ||
| Q1 25 | — | $235.2M | ||
| Q4 24 | — | $196.3M | ||
| Q3 24 | — | $265.8M | ||
| Q2 24 | — | $247.7M |
总债务ELSPTC
| Q1 26 | — | — | ||
| Q4 25 | $3.3B | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | $3.2B | $1.0B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.3B |
股东权益ELSPTC
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.8B | $3.8B | ||
| Q3 25 | $1.8B | $3.8B | ||
| Q2 25 | $1.7B | $3.5B | ||
| Q1 25 | $1.7B | $3.4B | ||
| Q4 24 | $1.7B | $3.2B | ||
| Q3 24 | $1.4B | $3.2B | ||
| Q2 24 | $1.4B | $3.0B |
总资产ELSPTC
| Q1 26 | $5.7M | — | ||
| Q4 25 | $5.7B | $6.4B | ||
| Q3 25 | $5.7B | $6.6B | ||
| Q2 25 | $5.7B | $6.2B | ||
| Q1 25 | $5.6B | $6.2B | ||
| Q4 24 | $5.6B | $6.1B | ||
| Q3 24 | $5.6B | $6.4B | ||
| Q2 24 | $5.6B | $6.1B |
负债/权益比ELSPTC
| Q1 26 | — | — | ||
| Q4 25 | 1.91× | 0.31× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | 1.84× | 0.32× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.43× |
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 | — | $269.7M |
| 自由现金流经营现金流 - 资本支出 | — | $267.4M |
| 自由现金流率自由现金流/营收 | — | 39.0% |
| 资本支出强度资本支出/营收 | — | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.62× |
| 过去12个月自由现金流最近4个季度 | — | $888.4M |
8季度趋势，按日历期对齐
经营现金流ELSPTC
| Q1 26 | — | — | ||
| Q4 25 | $571.1M | $269.7M | ||
| Q3 25 | $147.0M | $104.0M | ||
| Q2 25 | $131.3M | $243.9M | ||
| Q1 25 | $193.4M | $281.3M | ||
| Q4 24 | $596.7M | $238.4M | ||
| Q3 24 | $149.5M | $98.1M | ||
| Q2 24 | $143.1M | $213.8M |
自由现金流ELSPTC
| Q1 26 | — | — | ||
| Q4 25 | $334.1M | $267.4M | ||
| Q3 25 | $75.7M | $100.5M | ||
| Q2 25 | $71.8M | $242.0M | ||
| Q1 25 | $148.2M | $278.5M | ||
| Q4 24 | $355.4M | $235.7M | ||
| Q3 24 | $91.1M | $93.6M | ||
| Q2 24 | $80.6M | $212.2M |
自由现金流率ELSPTC
| Q1 26 | — | — | ||
| Q4 25 | 89.4% | 39.0% | ||
| Q3 25 | 19.3% | 11.2% | ||
| Q2 25 | 19.1% | 37.6% | ||
| Q1 25 | 38.3% | 43.8% | ||
| Q4 24 | 95.5% | 41.7% | ||
| Q3 24 | 23.5% | 14.9% | ||
| Q2 24 | 21.2% | 40.9% |
资本支出强度ELSPTC
| Q1 26 | — | — | ||
| Q4 25 | 63.4% | 0.3% | ||
| Q3 25 | 18.1% | 0.4% | ||
| Q2 25 | 15.8% | 0.3% | ||
| Q1 25 | 11.7% | 0.4% | ||
| Q4 24 | 64.8% | 0.5% | ||
| Q3 24 | 15.1% | 0.7% | ||
| Q2 24 | 16.5% | 0.3% |
现金转化率ELSPTC
| Q1 26 | — | — | ||
| Q4 25 | 5.50× | 1.62× | ||
| Q3 25 | 1.46× | 0.30× | ||
| Q2 25 | 1.57× | 1.73× | ||
| Q1 25 | 1.69× | 1.73× | ||
| Q4 24 | 5.93× | 2.90× | ||
| Q3 24 | 1.72× | 0.78× | ||
| Q2 24 | 1.74× | 3.10× |
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% |
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
