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Empire State Realty Trust, Inc.（ESRT）与H2O AMERICA（HTO）财务数据对比。点击上方公司名可切换其他公司
H2O AMERICA的季度营收约是Empire State Realty Trust, Inc.的1.0倍（$199.4M vs $190.3M），H2O AMERICA净利率更高（8.1% vs 1.6%，领先6.6%），Empire State Realty Trust, Inc.同比增速更快（5.7% vs 1.5%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs 0.2%）
帝国州房地产信托是一家美国房地产投资信托企业，持有并运营纽约大都会区的优质办公、零售及住宅物业，旗下资产包括地标性建筑帝国大厦，主打可持续运营模式，服务各类租户及住户，专注实现长期资产增值。
H2O Wireless是美国的预付费移动通信服务商，依托AT&T网络运营，隶属于MVNO（移动虚拟网络运营商）Locus通信，自2019年起Locus成为Telrite控股的子公司，此前2010年起曾是KDDI美国旗下资产。该品牌主打无限制套餐服务，支持用户自带或购买无锁智能手机入网，AT&T合约机/锁网机也可兼容使用。
ESRT vs HTO — 直观对比
营收规模更大
HTO
是对方的1.0倍
$190.3M
营收增速更快
ESRT
高出4.2%
1.5%
净利率更高
HTO
高出6.6%
1.6%
两年增速更快
HTO
近两年复合增速
0.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $190.3M | $199.4M |
| 净利润 | $3.0M | $16.2M |
| 毛利率 | — | — |
| 营业利润率 | 15.5% | 16.6% |
| 净利率 | 1.6% | 8.1% |
| 营收同比 | 5.7% | 1.5% |
| 净利润同比 | -73.7% | -29.2% |
| 每股收益（稀释后） | $0.20 | $0.45 |
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ESRTHTO
| Q1 26 | $190.3M | — | ||
| Q4 25 | $199.2M | $199.4M | ||
| Q3 25 | $197.7M | $243.5M | ||
| Q2 25 | $191.3M | $197.8M | ||
| Q1 25 | $180.1M | $164.9M | ||
| Q4 24 | $197.6M | $196.5M | ||
| Q3 24 | $199.6M | $216.7M | ||
| Q2 24 | $189.5M | $173.1M |
净利润ESRTHTO
| Q1 26 | $3.0M | — | ||
| Q4 25 | $32.2M | $16.2M | ||
| Q3 25 | $13.6M | $45.1M | ||
| Q2 25 | $11.4M | $24.7M | ||
| Q1 25 | $15.8M | $16.6M | ||
| Q4 24 | $18.8M | $22.9M | ||
| Q3 24 | $22.8M | $38.7M | ||
| Q2 24 | $28.6M | $20.7M |
营业利润率ESRTHTO
| Q1 26 | 15.5% | — | ||
| Q4 25 | 17.8% | 16.6% | ||
| Q3 25 | 19.9% | 26.5% | ||
| Q2 25 | 18.4% | 22.2% | ||
| Q1 25 | 14.3% | 21.8% | ||
| Q4 24 | 21.7% | 22.2% | ||
| Q3 24 | 22.7% | 26.9% | ||
| Q2 24 | 20.8% | 23.4% |
净利率ESRTHTO
| Q1 26 | 1.6% | — | ||
| Q4 25 | 16.1% | 8.1% | ||
| Q3 25 | 6.9% | 18.5% | ||
| Q2 25 | 6.0% | 12.5% | ||
| Q1 25 | 8.8% | 10.0% | ||
| Q4 24 | 9.5% | 11.7% | ||
| Q3 24 | 11.4% | 17.8% | ||
| Q2 24 | 15.1% | 12.0% |
每股收益（稀释后）ESRTHTO
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.11 | $0.45 | ||
| Q3 25 | $0.05 | $1.27 | ||
| Q2 25 | $0.04 | $0.71 | ||
| Q1 25 | $0.05 | $0.49 | ||
| Q4 24 | $0.07 | $0.70 | ||
| Q3 24 | $0.08 | $1.17 | ||
| Q2 24 | $0.10 | $0.64 |
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 | $68.8M | $20.7M |
| 总债务越低越好 | — | $1.9B |
| 股东权益账面价值 | $1.8B | $1.5B |
| 总资产 | $4.4B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资ESRTHTO
| Q1 26 | $68.8M | — | ||
| Q4 25 | $132.7M | $20.7M | ||
| Q3 25 | $154.1M | $11.3M | ||
| Q2 25 | $94.6M | $19.8M | ||
| Q1 25 | $187.8M | $23.7M | ||
| Q4 24 | $385.5M | $11.1M | ||
| Q3 24 | $421.9M | $4.0M | ||
| Q2 24 | $535.5M | $22.8M |
总债务ESRTHTO
| Q1 26 | — | — | ||
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ESRTHTO
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $1.0B | $1.5B | ||
| Q2 25 | $1.0B | $1.5B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $1.0B | $1.4B | ||
| Q3 24 | $1.0B | $1.3B | ||
| Q2 24 | $1.0B | $1.3B |
总资产ESRTHTO
| Q1 26 | $4.4B | — | ||
| Q4 25 | $4.5B | $5.1B | ||
| Q3 25 | $4.1B | $5.0B | ||
| Q2 25 | $4.1B | $4.8B | ||
| Q1 25 | $4.1B | $4.7B | ||
| Q4 24 | $4.5B | $4.7B | ||
| Q3 24 | $4.4B | $4.6B | ||
| Q2 24 | $4.4B | $4.4B |
负债/权益比ESRTHTO
| Q1 26 | — | — | ||
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $63.5M |
| 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 | 10.0% | — |
| 现金转化率经营现金流/净利润 | — | 3.92× |
| 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ESRTHTO
| Q1 26 | — | — | ||
| Q4 25 | $249.1M | $63.5M | ||
| Q3 25 | $105.3M | $77.3M | ||
| Q2 25 | $26.7M | $60.8M | ||
| Q1 25 | $83.1M | $43.2M | ||
| Q4 24 | $260.9M | $41.5M | ||
| Q3 24 | $102.8M | $53.5M | ||
| Q2 24 | $37.1M | $49.3M |
自由现金流ESRTHTO
| Q1 26 | — | — | ||
| Q4 25 | $50.6M | — | ||
| Q3 25 | $72.8M | — | ||
| Q2 25 | $-55.1M | — | ||
| Q1 25 | $41.1M | — | ||
| Q4 24 | $88.0M | — | ||
| Q3 24 | $-65.1M | — | ||
| Q2 24 | $19.5M | — |
自由现金流率ESRTHTO
| Q1 26 | — | — | ||
| Q4 25 | 25.4% | — | ||
| Q3 25 | 36.8% | — | ||
| Q2 25 | -28.8% | — | ||
| Q1 25 | 22.8% | — | ||
| Q4 24 | 44.5% | — | ||
| Q3 24 | -32.6% | — | ||
| Q2 24 | 10.3% | — |
资本支出强度ESRTHTO
| Q1 26 | 10.0% | — | ||
| Q4 25 | 99.6% | — | ||
| Q3 25 | 16.5% | — | ||
| Q2 25 | 42.8% | — | ||
| Q1 25 | 23.4% | — | ||
| Q4 24 | 87.5% | — | ||
| Q3 24 | 84.1% | — | ||
| Q2 24 | 9.3% | — |
现金转化率ESRTHTO
| Q1 26 | — | — | ||
| Q4 25 | 7.74× | 3.92× | ||
| Q3 25 | 7.72× | 1.71× | ||
| Q2 25 | 2.35× | 2.47× | ||
| Q1 25 | 5.27× | 2.61× | ||
| Q4 24 | 13.88× | 1.81× | ||
| Q3 24 | 4.51× | 1.39× | ||
| Q2 24 | 1.30× | 2.38× |
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
ESRT
| Rental revenue (1) | $166.1M | 87% |
| Observatory revenue | $18.5M | 10% |
| Other revenue and fees | $4.1M | 2% |
| Lease termination fees | $1.4M | 1% |
| Third-party management and other fees | $277.0K | 0% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
