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Equinix（EQIX）与Host Hotels & Resorts（HST）财务数据对比。点击上方公司名可切换其他公司
Equinix的季度营收约是Host Hotels & Resorts的1.5倍（$2.4B vs $1.6B），Equinix净利率更高（11.0% vs 8.4%，领先2.5%），Host Hotels & Resorts同比增速更快（12.3% vs 8.8%），过去两年Equinix的营收复合增速更高（5.9% vs 4.4%）
Equinix是总部位于美国加利福尼亚州雷德伍德城的跨国企业，主营互联网连接服务与数据中心托管业务，旗下数据中心此前常被业内称为“运营商酒店”，2015年1月公司正式转型为房地产投资信托基金（REIT）。
Host Hotels & Resorts是总部位于美国马里兰州贝塞斯达的房地产投资信托企业，专注于高端酒店资产投资。截至2024年12月31日，公司在美国、巴西、加拿大共持有81家高端酒店，总客房数约4.34万间，是全球知名的酒店不动产投资机构。
EQIX vs HST — 直观对比
营收规模更大
EQIX
是对方的1.5倍
$1.6B
营收增速更快
HST
高出3.5%
8.8%
净利率更高
EQIX
高出2.5%
8.4%
两年增速更快
EQIX
近两年复合增速
4.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $1.6B |
| 净利润 | $265.0M | $135.0M |
| 毛利率 | 50.5% | — |
| 营业利润率 | 17.4% | 12.0% |
| 净利率 | 11.0% | 8.4% |
| 营收同比 | 8.8% | 12.3% |
| 净利润同比 | -22.7% | 25.0% |
| 每股收益（稀释后） | $2.70 | $0.20 |
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EQIXHST
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | $1.6B | ||
| Q3 25 | $2.3B | $1.3B | ||
| Q2 25 | $2.3B | $1.6B | ||
| Q1 25 | $2.2B | $1.6B | ||
| Q4 24 | $2.3B | $1.4B | ||
| Q3 24 | $2.2B | $1.3B | ||
| Q2 24 | $2.2B | $1.5B |
净利润EQIXHST
| Q1 26 | $265.0M | — | ||
| Q4 25 | $265.0M | $135.0M | ||
| Q3 25 | $374.0M | $161.0M | ||
| Q2 25 | $368.0M | $221.0M | ||
| Q1 25 | $343.0M | $248.0M | ||
| Q4 24 | $-14.0M | $108.0M | ||
| Q3 24 | $297.0M | $82.0M | ||
| Q2 24 | $301.0M | $239.0M |
毛利率EQIXHST
| Q1 26 | 50.5% | — | ||
| Q4 25 | 50.5% | — | ||
| Q3 25 | 50.7% | — | ||
| Q2 25 | 52.0% | — | ||
| Q1 25 | 51.3% | — | ||
| Q4 24 | 47.1% | — | ||
| Q3 24 | 50.1% | — | ||
| Q2 24 | 49.9% | — |
营业利润率EQIXHST
| Q1 26 | 17.4% | — | ||
| Q4 25 | 17.4% | 12.0% | ||
| Q3 25 | 20.5% | 7.6% | ||
| Q2 25 | 21.9% | 17.5% | ||
| Q1 25 | 20.6% | 17.9% | ||
| Q4 24 | 4.6% | 11.0% | ||
| Q3 24 | 19.3% | 10.2% | ||
| Q2 24 | 20.2% | 19.9% |
净利率EQIXHST
| Q1 26 | 11.0% | — | ||
| Q4 25 | 11.0% | 8.4% | ||
| Q3 25 | 16.1% | 12.1% | ||
| Q2 25 | 16.3% | 13.9% | ||
| Q1 25 | 15.4% | 15.6% | ||
| Q4 24 | -0.6% | 7.6% | ||
| Q3 24 | 13.5% | 6.2% | ||
| Q2 24 | 13.9% | 16.3% |
每股收益（稀释后）EQIXHST
| Q1 26 | $2.70 | — | ||
| Q4 25 | $2.70 | $0.20 | ||
| Q3 25 | $3.81 | $0.23 | ||
| Q2 25 | $3.75 | $0.32 | ||
| Q1 25 | $3.50 | $0.35 | ||
| Q4 24 | $-0.19 | $0.15 | ||
| Q3 24 | $3.10 | $0.12 | ||
| Q2 24 | $3.16 | $0.34 |
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 | $3.2B | $768.0M |
| 总债务越低越好 | — | $1.3B |
| 股东权益账面价值 | $14.2B | $6.6B |
| 总资产 | $40.1B | $13.0B |
| 负债/权益比越低杠杆越低 | — | 0.19× |
8季度趋势，按日历期对齐
现金及短期投资EQIXHST
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $768.0M | ||
| Q3 25 | $2.9B | $539.0M | ||
| Q2 25 | $4.5B | $490.0M | ||
| Q1 25 | $3.7B | $428.0M | ||
| Q4 24 | $3.6B | $554.0M | ||
| Q3 24 | $3.2B | $564.0M | ||
| Q2 24 | $2.0B | $805.0M |
总债务EQIXHST
| Q1 26 | — | — | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | $17.3B | — | ||
| Q2 25 | $18.1B | — | ||
| Q1 25 | $15.9B | — | ||
| Q4 24 | $15.3B | $896.0M | ||
| Q3 24 | $15.4B | — | ||
| Q2 24 | $14.5B | — |
股东权益EQIXHST
| Q1 26 | $14.2B | — | ||
| Q4 25 | $14.2B | $6.6B | ||
| Q3 25 | $14.2B | $6.7B | ||
| Q2 25 | $14.1B | $6.6B | ||
| Q1 25 | $13.9B | $6.7B | ||
| Q4 24 | $13.5B | $6.6B | ||
| Q3 24 | $13.6B | $6.7B | ||
| Q2 24 | $12.3B | $6.8B |
总资产EQIXHST
| Q1 26 | $40.1B | — | ||
| Q4 25 | $40.1B | $13.0B | ||
| Q3 25 | $38.1B | $13.0B | ||
| Q2 25 | $38.8B | $13.0B | ||
| Q1 25 | $36.1B | $12.9B | ||
| Q4 24 | $35.1B | $13.0B | ||
| Q3 24 | $35.4B | $13.1B | ||
| Q2 24 | $32.9B | $12.4B |
负债/权益比EQIXHST
| Q1 26 | — | — | ||
| Q4 25 | — | 0.19× | ||
| Q3 25 | 1.22× | — | ||
| Q2 25 | 1.28× | — | ||
| Q1 25 | 1.14× | — | ||
| Q4 24 | 1.13× | 0.14× | ||
| Q3 24 | 1.13× | — | ||
| Q2 24 | 1.18× | — |
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 | — | $543.0M |
| 自由现金流经营现金流 - 资本支出 | — | $445.0M |
| 自由现金流率自由现金流/营收 | — | 27.8% |
| 资本支出强度资本支出/营收 | — | 6.1% |
| 现金转化率经营现金流/净利润 | — | 4.02× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流EQIXHST
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $543.0M | ||
| Q3 25 | $1.0B | $218.0M | ||
| Q2 25 | $944.0M | $444.0M | ||
| Q1 25 | $809.0M | $305.0M | ||
| Q4 24 | $981.0M | $331.0M | ||
| Q3 24 | $758.0M | $349.0M | ||
| Q2 24 | $912.0M | $453.0M |
自由现金流EQIXHST
| Q1 26 | — | — | ||
| Q4 25 | $-292.0M | $445.0M | ||
| Q3 25 | $-122.0M | $143.0M | ||
| Q2 25 | $-45.0M | $381.0M | ||
| Q1 25 | $59.0M | $259.0M | ||
| Q4 24 | $-6.0M | $235.0M | ||
| Q3 24 | $34.0M | $262.0M | ||
| Q2 24 | $264.0M | $409.0M |
自由现金流率EQIXHST
| Q1 26 | — | — | ||
| Q4 25 | -12.1% | 27.8% | ||
| Q3 25 | -5.3% | 10.7% | ||
| Q2 25 | -2.0% | 24.0% | ||
| Q1 25 | 2.7% | 16.2% | ||
| Q4 24 | -0.3% | 16.5% | ||
| Q3 24 | 1.5% | 19.9% | ||
| Q2 24 | 12.2% | 27.9% |
资本支出强度EQIXHST
| Q1 26 | — | — | ||
| Q4 25 | 59.3% | 6.1% | ||
| Q3 25 | 49.1% | 5.6% | ||
| Q2 25 | 43.8% | 4.0% | ||
| Q1 25 | 33.7% | 2.9% | ||
| Q4 24 | 43.7% | 6.7% | ||
| Q3 24 | 32.9% | 6.6% | ||
| Q2 24 | 30.0% | 3.0% |
现金转化率EQIXHST
| Q1 26 | — | — | ||
| Q4 25 | 4.32× | 4.02× | ||
| Q3 25 | 2.71× | 1.35× | ||
| Q2 25 | 2.57× | 2.01× | ||
| Q1 25 | 2.36× | 1.23× | ||
| Q4 24 | — | 3.06× | ||
| Q3 24 | 2.55× | 4.26× | ||
| Q2 24 | 3.03× | 1.90× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
