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Equity Residential（EQR）与美世（MERC）财务数据对比。点击上方公司名可切换其他公司
Equity Residential的季度营收约是美世的1.7倍（$781.9M vs $449.5M），Equity Residential净利率更高（48.9% vs -68.7%，领先117.5%），Equity Residential同比增速更快（2.0% vs -8.0%），过去两年Equity Residential的营收复合增速更高（3.4% vs -9.9%）
Equity Residential是总部位于美国的公开上市房地产投资信托基金（REIT），核心业务聚焦公寓类不动产投资，在全美多地持有大量优质公寓资产，深耕租赁住房市场，拥有成熟的运营管理经验和突出的行业竞争优势。
美世是1945年成立的美国咨询公司，为全球专业服务集团威达信的四大运营子公司之一，总部位于纽约，在43个国家设有办事处，业务覆盖130个国家，主要为客户提供人力资源与金融咨询服务。
EQR vs MERC — 直观对比
营收规模更大
EQR
是对方的1.7倍
$449.5M
营收增速更快
EQR
高出9.9%
-8.0%
净利率更高
EQR
高出117.5%
-68.7%
两年增速更快
EQR
近两年复合增速
-9.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $781.9M | $449.5M |
| 净利润 | $382.1M | $-308.7M |
| 毛利率 | — | — |
| 营业利润率 | 50.6% | -62.0% |
| 净利率 | 48.9% | -68.7% |
| 营收同比 | 2.0% | -8.0% |
| 净利润同比 | -8.8% | -1947.7% |
| 每股收益（稀释后） | $1.01 | $-4.61 |
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EQRMERC
| Q4 25 | $781.9M | $449.5M | ||
| Q3 25 | $782.4M | $458.1M | ||
| Q2 25 | $768.8M | $453.5M | ||
| Q1 25 | $760.8M | $507.0M | ||
| Q4 24 | $766.8M | $488.4M | ||
| Q3 24 | $748.3M | $502.1M | ||
| Q2 24 | $734.2M | $499.4M | ||
| Q1 24 | $730.8M | $553.4M |
净利润EQRMERC
| Q4 25 | $382.1M | $-308.7M | ||
| Q3 25 | $289.1M | $-80.8M | ||
| Q2 25 | $192.4M | $-86.1M | ||
| Q1 25 | $256.6M | $-22.3M | ||
| Q4 24 | $419.1M | $16.7M | ||
| Q3 24 | $143.4M | $-17.6M | ||
| Q2 24 | $177.5M | $-67.6M | ||
| Q1 24 | $295.8M | $-16.7M |
营业利润率EQRMERC
| Q4 25 | 50.6% | -62.0% | ||
| Q3 25 | 38.5% | -14.8% | ||
| Q2 25 | 26.6% | -12.9% | ||
| Q1 25 | 35.7% | 1.3% | ||
| Q4 24 | 57.2% | 10.3% | ||
| Q3 24 | 20.1% | 1.8% | ||
| Q2 24 | 25.3% | -8.8% | ||
| Q1 24 | 42.0% | -0.1% |
净利率EQRMERC
| Q4 25 | 48.9% | -68.7% | ||
| Q3 25 | 36.9% | -17.6% | ||
| Q2 25 | 25.0% | -19.0% | ||
| Q1 25 | 33.7% | -4.4% | ||
| Q4 24 | 54.7% | 3.4% | ||
| Q3 24 | 19.2% | -3.5% | ||
| Q2 24 | 24.2% | -13.5% | ||
| Q1 24 | 40.5% | -3.0% |
每股收益（稀释后）EQRMERC
| Q4 25 | $1.01 | $-4.61 | ||
| Q3 25 | $0.76 | $-1.21 | ||
| Q2 25 | $0.50 | $-1.29 | ||
| Q1 25 | $0.67 | $-0.33 | ||
| Q4 24 | $1.10 | $0.25 | ||
| Q3 24 | $0.38 | $-0.26 | ||
| Q2 24 | $0.47 | $-1.01 | ||
| Q1 24 | $0.77 | $-0.25 |
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 | $55.9M | $186.8M |
| 总债务越低越好 | $8.2B | $1.6B |
| 股东权益账面价值 | $11.0B | $68.1M |
| 总资产 | $20.7B | $2.0B |
| 负债/权益比越低杠杆越低 | 0.75× | 23.58× |
8季度趋势，按日历期对齐
现金及短期投资EQRMERC
| Q4 25 | $55.9M | $186.8M | ||
| Q3 25 | $93.1M | $98.1M | ||
| Q2 25 | $31.3M | $146.5M | ||
| Q1 25 | $39.8M | $181.5M | ||
| Q4 24 | $62.3M | $184.9M | ||
| Q3 24 | $28.6M | $239.0M | ||
| Q2 24 | $38.3M | $263.2M | ||
| Q1 24 | $44.5M | $274.3M |
总债务EQRMERC
| Q4 25 | $8.2B | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $8.2B | $1.5B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.6B |
股东权益EQRMERC
| Q4 25 | $11.0B | $68.1M | ||
| Q3 25 | $11.1B | $359.5M | ||
| Q2 25 | $11.0B | $446.5M | ||
| Q1 25 | $11.0B | $437.4M | ||
| Q4 24 | $11.0B | $429.8M | ||
| Q3 24 | $10.9B | $516.8M | ||
| Q2 24 | $11.0B | $487.7M | ||
| Q1 24 | $11.1B | $573.6M |
总资产EQRMERC
| Q4 25 | $20.7B | $2.0B | ||
| Q3 25 | $21.1B | $2.3B | ||
| Q2 25 | $21.0B | $2.4B | ||
| Q1 25 | $20.6B | $2.3B | ||
| Q4 24 | $20.8B | $2.3B | ||
| Q3 24 | $20.9B | $2.5B | ||
| Q2 24 | $19.8B | $2.5B | ||
| Q1 24 | $19.9B | $2.6B |
负债/权益比EQRMERC
| Q4 25 | 0.75× | 23.58× | ||
| Q3 25 | — | 4.30× | ||
| Q2 25 | — | 3.42× | ||
| Q1 25 | — | 3.44× | ||
| Q4 24 | 0.74× | 3.43× | ||
| Q3 24 | — | 3.09× | ||
| Q2 24 | — | 3.22× | ||
| Q1 24 | — | 2.82× |
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 | $387.0M | $46.2M |
| 自由现金流经营现金流 - 资本支出 | — | $32.0M |
| 自由现金流率自由现金流/营收 | — | 7.1% |
| 资本支出强度资本支出/营收 | — | 3.1% |
| 现金转化率经营现金流/净利润 | 1.01× | — |
| 过去12个月自由现金流最近4个季度 | — | $-80.0M |
8季度趋势，按日历期对齐
经营现金流EQRMERC
| Q4 25 | $387.0M | $46.2M | ||
| Q3 25 | $476.7M | $-30.1M | ||
| Q2 25 | $359.5M | $-4.5M | ||
| Q1 25 | $425.5M | $-3.0M | ||
| Q4 24 | $354.2M | $71.2M | ||
| Q3 24 | $401.4M | $-13.9M | ||
| Q2 24 | $396.9M | $62.2M | ||
| Q1 24 | $421.0M | $-29.2M |
自由现金流EQRMERC
| Q4 25 | — | $32.0M | ||
| Q3 25 | — | $-60.1M | ||
| Q2 25 | — | $-28.9M | ||
| Q1 25 | — | $-23.1M | ||
| Q4 24 | — | $50.4M | ||
| Q3 24 | — | $-41.2M | ||
| Q2 24 | — | $44.3M | ||
| Q1 24 | — | $-47.7M |
自由现金流率EQRMERC
| Q4 25 | — | 7.1% | ||
| Q3 25 | — | -13.1% | ||
| Q2 25 | — | -6.4% | ||
| Q1 25 | — | -4.6% | ||
| Q4 24 | — | 10.3% | ||
| Q3 24 | — | -8.2% | ||
| Q2 24 | — | 8.9% | ||
| Q1 24 | — | -8.6% |
资本支出强度EQRMERC
| Q4 25 | — | 3.1% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | 5.4% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | — | 5.4% | ||
| Q2 24 | — | 3.6% | ||
| Q1 24 | — | 3.3% |
现金转化率EQRMERC
| Q4 25 | 1.01× | — | ||
| Q3 25 | 1.65× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | 1.66× | — | ||
| Q4 24 | 0.85× | 4.26× | ||
| Q3 24 | 2.80× | — | ||
| Q2 24 | 2.24× | — | ||
| Q1 24 | 1.42× | — |
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
EQR
暂无分部数据
MERC
| Other | $215.3M | 48% |
| Solid Wood | $110.2M | 25% |
| Lumber | $54.9M | 12% |
| Pallets | $23.7M | 5% |
| Energyandchemicals | $18.7M | 4% |
| Manufactured Products | $14.1M | 3% |
| Biofuels | $10.0M | 2% |
| Wood Residuals | $2.6M | 1% |
