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Equity Residential（EQR）与SBA Communications（SBAC）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SBA Communications的1.1倍（$781.9M vs $719.6M），SBA Communications净利率更高（51.5% vs 48.9%，领先2.6%），SBA Communications同比增速更快（3.7% vs 2.0%），过去两年SBA Communications的营收复合增速更高（4.6% vs 3.4%）
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。
SBA Communications是一家房地产投资信托企业，核心业务为持有、运营无线通信基础设施，市场覆盖美国、加拿大、中南美洲及南非地区。公司由Steven Bernstein于1989年创立，前身为Steven Bernstein and Associates。
EQR vs SBAC — 直观对比
营收规模更大
EQR
是对方的1.1倍
$719.6M
营收增速更快
SBAC
高出1.8%
2.0%
净利率更高
SBAC
高出2.6%
48.9%
两年增速更快
SBAC
近两年复合增速
3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $781.9M | $719.6M |
| 净利润 | $382.1M | $370.4M |
| 毛利率 | — | 75.6% |
| 营业利润率 | 50.6% | 41.5% |
| 净利率 | 48.9% | 51.5% |
| 营收同比 | 2.0% | 3.7% |
| 净利润同比 | -8.8% | 107.2% |
| 每股收益（稀释后） | $1.01 | $3.47 |
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EQRSBAC
| Q4 25 | $781.9M | $719.6M | ||
| Q3 25 | $782.4M | $732.3M | ||
| Q2 25 | $768.8M | $699.0M | ||
| Q1 25 | $760.8M | $664.2M | ||
| Q4 24 | $766.8M | $693.7M | ||
| Q3 24 | $748.3M | $667.6M | ||
| Q2 24 | $734.2M | $660.5M | ||
| Q1 24 | $730.8M | $657.9M |
净利润EQRSBAC
| Q4 25 | $382.1M | $370.4M | ||
| Q3 25 | $289.1M | $236.8M | ||
| Q2 25 | $192.4M | $225.8M | ||
| Q1 25 | $256.6M | $220.7M | ||
| Q4 24 | $419.1M | $178.8M | ||
| Q3 24 | $143.4M | $258.5M | ||
| Q2 24 | $177.5M | $162.8M | ||
| Q1 24 | $295.8M | $154.5M |
毛利率EQRSBAC
| Q4 25 | — | 75.6% | ||
| Q3 25 | — | 74.1% | ||
| Q2 25 | — | 75.4% | ||
| Q1 25 | — | 76.9% | ||
| Q4 24 | — | 78.1% | ||
| Q3 24 | — | 77.5% | ||
| Q2 24 | — | 78.6% | ||
| Q1 24 | — | 79.0% |
营业利润率EQRSBAC
| Q4 25 | 50.6% | 41.5% | ||
| Q3 25 | 38.5% | 51.1% | ||
| Q2 25 | 26.6% | 47.9% | ||
| Q1 25 | 35.7% | 50.4% | ||
| Q4 24 | 57.2% | 55.1% | ||
| Q3 24 | 20.1% | 56.3% | ||
| Q2 24 | 25.3% | 53.7% | ||
| Q1 24 | 42.0% | 49.2% |
净利率EQRSBAC
| Q4 25 | 48.9% | 51.5% | ||
| Q3 25 | 36.9% | 32.3% | ||
| Q2 25 | 25.0% | 32.3% | ||
| Q1 25 | 33.7% | 33.2% | ||
| Q4 24 | 54.7% | 25.8% | ||
| Q3 24 | 19.2% | 38.7% | ||
| Q2 24 | 24.2% | 24.7% | ||
| Q1 24 | 40.5% | 23.5% |
每股收益（稀释后）EQRSBAC
| Q4 25 | $1.01 | $3.47 | ||
| Q3 25 | $0.76 | $2.20 | ||
| Q2 25 | $0.50 | $2.09 | ||
| Q1 25 | $0.67 | $2.04 | ||
| Q4 24 | $1.10 | $1.61 | ||
| Q3 24 | $0.38 | $2.40 | ||
| Q2 24 | $0.47 | $1.51 | ||
| Q1 24 | $0.77 | $1.42 |
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 | $271.2M |
| 总债务越低越好 | $8.2B | $12.9B |
| 股东权益账面价值 | $11.0B | $-4.9B |
| 总资产 | $20.7B | $11.6B |
| 负债/权益比越低杠杆越低 | 0.75× | — |
8季度趋势，按日历期对齐
现金及短期投资EQRSBAC
| Q4 25 | $55.9M | $271.2M | ||
| Q3 25 | $93.1M | $431.1M | ||
| Q2 25 | $31.3M | $276.8M | ||
| Q1 25 | $39.8M | $702.2M | ||
| Q4 24 | $62.3M | $444.4M | ||
| Q3 24 | $28.6M | $202.6M | ||
| Q2 24 | $38.3M | $250.9M | ||
| Q1 24 | $44.5M | $241.9M |
总债务EQRSBAC
| Q4 25 | $8.2B | $12.9B | ||
| Q3 25 | — | $12.7B | ||
| Q2 25 | — | $12.5B | ||
| Q1 25 | — | $12.4B | ||
| Q4 24 | $8.2B | $13.6B | ||
| Q3 24 | — | $12.3B | ||
| Q2 24 | — | $12.3B | ||
| Q1 24 | — | $12.4B |
股东权益EQRSBAC
| Q4 25 | $11.0B | $-4.9B | ||
| Q3 25 | $11.1B | $-4.9B | ||
| Q2 25 | $11.0B | $-4.9B | ||
| Q1 25 | $11.0B | $-5.0B | ||
| Q4 24 | $11.0B | $-5.1B | ||
| Q3 24 | $10.9B | $-5.2B | ||
| Q2 24 | $11.0B | $-5.3B | ||
| Q1 24 | $11.1B | $-5.2B |
总资产EQRSBAC
| Q4 25 | $20.7B | $11.6B | ||
| Q3 25 | $21.1B | $11.3B | ||
| Q2 25 | $21.0B | $10.8B | ||
| Q1 25 | $20.6B | $10.4B | ||
| Q4 24 | $20.8B | $11.4B | ||
| Q3 24 | $20.9B | $10.2B | ||
| Q2 24 | $19.8B | $9.8B | ||
| Q1 24 | $19.9B | $10.0B |
负债/权益比EQRSBAC
| Q4 25 | 0.75× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $387.0M | $1.3B |
| 自由现金流经营现金流 - 资本支出 | — | $833.3M |
| 自由现金流率自由现金流/营收 | — | 115.8% |
| 资本支出强度资本支出/营收 | — | 63.7% |
| 现金转化率经营现金流/净利润 | 1.01× | 3.49× |
| 过去12个月自由现金流最近4个季度 | — | $1.7B |
8季度趋势，按日历期对齐
经营现金流EQRSBAC
| Q4 25 | $387.0M | $1.3B | ||
| Q3 25 | $476.7M | $318.0M | ||
| Q2 25 | $359.5M | $368.1M | ||
| Q1 25 | $425.5M | $301.2M | ||
| Q4 24 | $354.2M | $1.3B | ||
| Q3 24 | $401.4M | $304.7M | ||
| Q2 24 | $396.9M | $425.6M | ||
| Q1 24 | $421.0M | $294.5M |
自由现金流EQRSBAC
| Q4 25 | — | $833.3M | ||
| Q3 25 | — | $258.0M | ||
| Q2 25 | — | $312.2M | ||
| Q1 25 | — | $255.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $239.9M | ||
| Q2 24 | — | $375.6M | ||
| Q1 24 | — | $236.6M |
自由现金流率EQRSBAC
| Q4 25 | — | 115.8% | ||
| Q3 25 | — | 35.2% | ||
| Q2 25 | — | 44.7% | ||
| Q1 25 | — | 38.4% | ||
| Q4 24 | — | 179.9% | ||
| Q3 24 | — | 35.9% | ||
| Q2 24 | — | 56.9% | ||
| Q1 24 | — | 36.0% |
资本支出强度EQRSBAC
| Q4 25 | — | 63.7% | ||
| Q3 25 | — | 8.2% | ||
| Q2 25 | — | 8.0% | ||
| Q1 25 | — | 7.0% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | — | 9.7% | ||
| Q2 24 | — | 7.6% | ||
| Q1 24 | — | 8.8% |
现金转化率EQRSBAC
| Q4 25 | 1.01× | 3.49× | ||
| Q3 25 | 1.65× | 1.34× | ||
| Q2 25 | 1.87× | 1.63× | ||
| Q1 25 | 1.66× | 1.36× | ||
| Q4 24 | 0.85× | 7.47× | ||
| Q3 24 | 2.80× | 1.18× | ||
| Q2 24 | 2.24× | 2.61× | ||
| Q1 24 | 1.42× | 1.91× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
