vs
GLADSTONE COMMERCIAL CORP（GOOD）与REDWOOD TRUST INC（RWT）财务数据对比。点击上方公司名可切换其他公司
GLADSTONE COMMERCIAL CORP的季度营收约是REDWOOD TRUST INC的1.7倍（$43.5M vs $25.9M），REDWOOD TRUST INC净利率更高（77.2% vs 12.4%，领先64.8%），GLADSTONE COMMERCIAL CORP同比增速更快（16.3% vs -6.1%），过去两年GLADSTONE COMMERCIAL CORP的营收复合增速更高（10.3% vs -41.0%）
格拉德斯通商业公司是一家上市房地产投资信托，主要在美国境内收购、持有及运营多元化的工业与商业地产组合，面向制造、物流、医疗、专业服务等领域的租户提供长期净租赁服务，核心客群为中小规模企业。
Redwood Trust Inc是总部位于美国的专业房地产投资信托公司，主营住宅与商业抵押贷款、抵押贷款支持证券及房地产信贷类资产的投资管理，核心业务覆盖住宅抵押贷款发放、商业地产信贷和投资服务，客户以机构投资者和房地产市场参与者为主。
GOOD vs RWT — 直观对比
营收规模更大
GOOD
是对方的1.7倍
$25.9M
营收增速更快
GOOD
高出22.4%
-6.1%
净利率更高
RWT
高出64.8%
12.4%
两年增速更快
GOOD
近两年复合增速
-41.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $43.5M | $25.9M |
| 净利润 | $5.4M | $20.0M |
| 毛利率 | — | — |
| 营业利润率 | — | — |
| 净利率 | 12.4% | 77.2% |
| 营收同比 | 16.3% | -6.1% |
| 净利润同比 | -25.1% | 402.6% |
| 每股收益（稀释后） | $0.05 | $0.11 |
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GOODRWT
| Q4 25 | $43.5M | $25.9M | ||
| Q3 25 | $40.8M | $15.0M | ||
| Q2 25 | $39.5M | $13.8M | ||
| Q1 25 | $37.5M | $27.9M | ||
| Q4 24 | $37.4M | $27.6M | ||
| Q3 24 | $39.2M | $25.5M | ||
| Q2 24 | $37.1M | $67.4M | ||
| Q1 24 | $35.7M | $74.5M |
净利润GOODRWT
| Q4 25 | $5.4M | $20.0M | ||
| Q3 25 | $4.1M | $-7.7M | ||
| Q2 25 | $4.6M | $-98.5M | ||
| Q1 25 | $5.1M | $16.1M | ||
| Q4 24 | $7.2M | $-6.6M | ||
| Q3 24 | $11.7M | $14.8M | ||
| Q2 24 | $1.6M | $15.5M | ||
| Q1 24 | $3.5M | $30.3M |
营业利润率GOODRWT
| Q4 25 | — | — | ||
| Q3 25 | — | -9.0% | ||
| Q2 25 | — | -679.0% | ||
| Q1 25 | — | 80.2% | ||
| Q4 24 | — | -1.3% | ||
| Q3 24 | — | 86.1% | ||
| Q2 24 | — | 30.3% | ||
| Q1 24 | — | 41.3% |
净利率GOODRWT
| Q4 25 | 12.4% | 77.2% | ||
| Q3 25 | 10.1% | -51.4% | ||
| Q2 25 | 11.7% | -712.0% | ||
| Q1 25 | 13.7% | 57.8% | ||
| Q4 24 | 19.2% | -24.0% | ||
| Q3 24 | 29.8% | 58.1% | ||
| Q2 24 | 4.3% | 23.0% | ||
| Q1 24 | 9.9% | 40.6% |
每股收益（稀释后）GOODRWT
| Q4 25 | $0.05 | $0.11 | ||
| Q3 25 | $0.02 | $-0.08 | ||
| Q2 25 | $0.03 | $-0.76 | ||
| Q1 25 | $0.04 | $0.10 | ||
| Q4 24 | $0.10 | $-0.08 | ||
| Q3 24 | $0.20 | $0.09 | ||
| Q2 24 | $-0.04 | $0.10 | ||
| Q1 24 | $0.01 | $0.21 |
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 | $10.8M | $255.7M |
| 总债务越低越好 | $843.5M | — |
| 股东权益账面价值 | $171.8M | $982.6M |
| 总资产 | $1.2B | $23.7B |
| 负债/权益比越低杠杆越低 | 4.91× | — |
8季度趋势，按日历期对齐
现金及短期投资GOODRWT
| Q4 25 | $10.8M | $255.7M | ||
| Q3 25 | $18.4M | $226.3M | ||
| Q2 25 | $11.7M | $302.0M | ||
| Q1 25 | $10.4M | $259.9M | ||
| Q4 24 | $11.0M | $245.2M | ||
| Q3 24 | $10.5M | $253.7M | ||
| Q2 24 | $10.4M | $275.6M | ||
| Q1 24 | $10.5M | $275.4M |
总债务GOODRWT
| Q4 25 | $843.5M | — | ||
| Q3 25 | $843.3M | — | ||
| Q2 25 | $794.4M | — | ||
| Q1 25 | $740.7M | — | ||
| Q4 24 | $693.4M | — | ||
| Q3 24 | $692.6M | — | ||
| Q2 24 | $722.5M | — | ||
| Q1 24 | $719.4M | $1.7B |
股东权益GOODRWT
| Q4 25 | $171.8M | $982.6M | ||
| Q3 25 | $184.8M | $999.0M | ||
| Q2 25 | $177.2M | $1.1B | ||
| Q1 25 | $183.2M | $1.2B | ||
| Q4 24 | $171.2M | $1.2B | ||
| Q3 24 | $168.9M | $1.2B | ||
| Q2 24 | $145.7M | $1.2B | ||
| Q1 24 | $147.3M | $1.2B |
总资产GOODRWT
| Q4 25 | $1.2B | $23.7B | ||
| Q3 25 | $1.3B | $22.6B | ||
| Q2 25 | $1.2B | $21.3B | ||
| Q1 25 | $1.2B | $19.9B | ||
| Q4 24 | $1.1B | $18.3B | ||
| Q3 24 | $1.1B | $18.4B | ||
| Q2 24 | $1.1B | $16.5B | ||
| Q1 24 | $1.1B | $15.1B |
负债/权益比GOODRWT
| Q4 25 | 4.91× | — | ||
| Q3 25 | 4.56× | — | ||
| Q2 25 | 4.48× | — | ||
| Q1 25 | 4.04× | — | ||
| Q4 24 | 4.05× | — | ||
| Q3 24 | 4.10× | — | ||
| Q2 24 | 4.96× | — | ||
| Q1 24 | 4.88× | 1.39× |
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 | $88.2M | $-10.1B |
| 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 | 16.38× | -504.15× |
| 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GOODRWT
| Q4 25 | $88.2M | $-10.1B | ||
| Q3 25 | $18.9M | $-2.7B | ||
| Q2 25 | $35.8M | $-2.1B | ||
| Q1 25 | $17.7M | $-2.0B | ||
| Q4 24 | $57.0M | $-5.9B | ||
| Q3 24 | $5.5M | $-2.1B | ||
| Q2 24 | $13.6M | $-2.0B | ||
| Q1 24 | $15.0M | $-954.2M |
现金转化率GOODRWT
| Q4 25 | 16.38× | -504.15× | ||
| Q3 25 | 4.57× | — | ||
| Q2 25 | 7.74× | — | ||
| Q1 25 | 3.44× | -120.92× | ||
| Q4 24 | 7.93× | — | ||
| Q3 24 | 0.47× | -140.86× | ||
| Q2 24 | 8.44× | -126.56× | ||
| Q1 24 | 4.26× | -31.53× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
