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西蒙地产集团（ELS）与VORNADO REALTY TRUST（VNO）财务数据对比。点击上方公司名可切换其他公司
VORNADO REALTY TRUST的季度营收约是西蒙地产集团的1.1倍（$453.7M vs $397.6M），西蒙地产集团同比增速更快（6.3% vs -0.9%），过去两年西蒙地产集团的营收复合增速更高（2.3% vs 2.0%）
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。
Vornado Realty Trust是1982年于美国马里兰州注册成立的房地产投资信托，总部设立在纽约市，核心业务为投资曼哈顿核心区域的优质写字楼及临街零售商业地产，是纽约当地颇具影响力的商业地产投资运营机构。
ELS vs VNO — 直观对比
营收规模更大
VNO
是对方的1.1倍
$397.6M
营收增速更快
ELS
高出7.2%
-0.9%
两年增速更快
ELS
近两年复合增速
2.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $397.6M | $453.7M |
| 净利润 | — | $4.9M |
| 毛利率 | — | — |
| 营业利润率 | — | 2.8% |
| 净利率 | — | 1.1% |
| 营收同比 | 6.3% | -0.9% |
| 净利润同比 | — | -14.7% |
| 每股收益（稀释后） | $0.56 | $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ELSVNO
| Q1 26 | $397.6M | — | ||
| Q4 25 | $373.9M | $453.7M | ||
| Q3 25 | $393.3M | $453.7M | ||
| Q2 25 | $376.9M | $441.4M | ||
| Q1 25 | $387.3M | $461.6M | ||
| Q4 24 | $372.3M | $457.8M | ||
| Q3 24 | $387.3M | $443.3M | ||
| Q2 24 | $380.0M | $450.3M |
净利润ELSVNO
| Q1 26 | — | — | ||
| Q4 25 | $103.8M | $4.9M | ||
| Q3 25 | $100.4M | $27.1M | ||
| Q2 25 | $83.5M | $759.3M | ||
| Q1 25 | $114.4M | $102.4M | ||
| Q4 24 | $100.6M | $5.8M | ||
| Q3 24 | $86.9M | $-3.6M | ||
| Q2 24 | $82.1M | $50.8M |
营业利润率ELSVNO
| Q1 26 | — | — | ||
| Q4 25 | 26.5% | 2.8% | ||
| Q3 25 | 25.1% | 3.0% | ||
| Q2 25 | 22.3% | — | ||
| Q1 25 | 28.3% | 23.2% | ||
| Q4 24 | 27.2% | 2.5% | ||
| Q3 24 | 21.4% | -3.3% | ||
| Q2 24 | 21.5% | 10.1% |
净利率ELSVNO
| Q1 26 | — | — | ||
| Q4 25 | 27.8% | 1.1% | ||
| Q3 25 | 25.5% | 6.0% | ||
| Q2 25 | 22.2% | 172.0% | ||
| Q1 25 | 29.5% | 22.2% | ||
| Q4 24 | 27.0% | 1.3% | ||
| Q3 24 | 22.4% | -0.8% | ||
| Q2 24 | 21.6% | 11.3% |
每股收益（稀释后）ELSVNO
| Q1 26 | $0.56 | — | ||
| Q4 25 | $0.52 | $0.01 | ||
| Q3 25 | $0.50 | $0.06 | ||
| Q2 25 | $0.42 | $3.70 | ||
| Q1 25 | $0.57 | $0.43 | ||
| Q4 24 | $0.51 | $0.01 | ||
| Q3 24 | $0.44 | $-0.10 | ||
| Q2 24 | $0.42 | $0.18 |
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 | — | $840.9M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $1.8B | $6.0B |
| 总资产 | $5.7M | $15.5B |
| 负债/权益比越低杠杆越低 | — | 0.38× |
8季度趋势，按日历期对齐
现金及短期投资ELSVNO
| Q1 26 | — | — | ||
| Q4 25 | — | $840.9M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $568.9M | ||
| Q4 24 | — | $733.9M | ||
| Q3 24 | — | $783.6M | ||
| Q2 24 | — | $872.6M |
总债务ELSVNO
| Q1 26 | — | — | ||
| Q4 25 | $3.3B | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | $3.2B | $2.6B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.6B |
股东权益ELSVNO
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.8B | $6.0B | ||
| Q3 25 | $1.8B | $6.1B | ||
| Q2 25 | $1.7B | $6.1B | ||
| Q1 25 | $1.7B | $5.3B | ||
| Q4 24 | $1.7B | $5.2B | ||
| Q3 24 | $1.4B | $5.3B | ||
| Q2 24 | $1.4B | $5.6B |
总资产ELSVNO
| Q1 26 | $5.7M | — | ||
| Q4 25 | $5.7B | $15.5B | ||
| Q3 25 | $5.7B | $15.7B | ||
| Q2 25 | $5.7B | $15.6B | ||
| Q1 25 | $5.6B | $15.6B | ||
| Q4 24 | $5.6B | $16.0B | ||
| Q3 24 | $5.6B | $16.1B | ||
| Q2 24 | $5.6B | $16.2B |
负债/权益比ELSVNO
| Q1 26 | — | — | ||
| Q4 25 | 1.91× | 0.38× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | 1.84× | 0.50× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.46× |
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 |
| 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 | — | 256.08× |
| 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ELSVNO
| Q1 26 | — | — | ||
| Q4 25 | $571.1M | $1.3B | ||
| Q3 25 | $147.0M | $33.2M | ||
| Q2 25 | $131.3M | $1.0B | ||
| Q1 25 | $193.4M | $52.0M | ||
| Q4 24 | $596.7M | $537.7M | ||
| Q3 24 | $149.5M | $105.4M | ||
| Q2 24 | $143.1M | $194.7M |
自由现金流ELSVNO
| 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ELSVNO
| 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ELSVNO
| 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ELSVNO
| Q1 26 | — | — | ||
| Q4 25 | 5.50× | 256.08× | ||
| Q3 25 | 1.46× | 1.22× | ||
| Q2 25 | 1.57× | 1.35× | ||
| Q1 25 | 1.69× | 0.51× | ||
| Q4 24 | 5.93× | 93.39× | ||
| Q3 24 | 1.72× | — | ||
| Q2 24 | 1.74× | 3.83× |
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% |
VNO
| New York Segment | $374.8M | 83% |
| Building Maintenance Service | $41.2M | 9% |
| Other | $27.7M | 6% |
| Tenant Services | $11.1M | 2% |
| Management And Leasing Fees | $2.6M | 1% |
