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HIGHWOODS PROPERTIES, INC.（HIW）与GIBRALTAR INDUSTRIES, INC.（ROCK）财务数据对比。点击上方公司名可切换其他公司
GIBRALTAR INDUSTRIES, INC.的季度营收约是HIGHWOODS PROPERTIES, INC.的1.1倍（$225.0M vs $203.4M），GIBRALTAR INDUSTRIES, INC.同比增速更快（24.9% vs -1.1%），过去两年HIGHWOODS PROPERTIES, INC.的营收复合增速更高（-1.9% vs -12.3%）
Highwoods Properties是一家公开上市的房地产投资信托公司，主要在美国东南部和大西洋中部地区的高速增长大都会区持有、开发、收购和管理优质办公物业，服务的企业租户覆盖科技、医疗、金融、专业服务等多元行业领域。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
HIW vs ROCK — 直观对比
营收规模更大
ROCK
是对方的1.1倍
$203.4M
营收增速更快
ROCK
高出26.0%
-1.1%
两年增速更快
HIW
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $203.4M | $225.0M |
| 净利润 | $29.7M | — |
| 毛利率 | — | 25.3% |
| 营业利润率 | 67.2% | 7.9% |
| 净利率 | 14.6% | — |
| 营收同比 | -1.1% | 24.9% |
| 净利润同比 | 1029.4% | — |
| 每股收益（稀释后） | $0.25 | — |
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HIWROCK
| Q4 25 | $203.4M | $225.0M | ||
| Q3 25 | $201.8M | $310.9M | ||
| Q2 25 | $200.6M | $309.5M | ||
| Q1 25 | $200.4M | $290.0M | ||
| Q4 24 | $205.5M | $180.1M | ||
| Q3 24 | $204.3M | $277.1M | ||
| Q2 24 | $204.7M | $273.6M | ||
| Q1 24 | $211.3M | $292.5M |
净利润HIWROCK
| Q4 25 | $29.7M | — | ||
| Q3 25 | $13.7M | $-89.1M | ||
| Q2 25 | $19.2M | $26.0M | ||
| Q1 25 | $100.0M | $21.1M | ||
| Q4 24 | $-3.2M | — | ||
| Q3 24 | $15.5M | $34.0M | ||
| Q2 24 | $64.8M | $32.2M | ||
| Q1 24 | $27.2M | $24.9M |
毛利率HIWROCK
| Q4 25 | — | 25.3% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 28.4% | ||
| Q1 25 | — | 26.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 30.5% | ||
| Q1 24 | — | 28.9% |
营业利润率HIWROCK
| Q4 25 | 67.2% | 7.9% | ||
| Q3 25 | 67.3% | 12.8% | ||
| Q2 25 | 68.3% | 12.8% | ||
| Q1 25 | 67.5% | 8.8% | ||
| Q4 24 | 65.2% | 13.3% | ||
| Q3 24 | 67.8% | 15.6% | ||
| Q2 24 | 68.5% | 14.9% | ||
| Q1 24 | 66.7% | 10.8% |
净利率HIWROCK
| Q4 25 | 14.6% | — | ||
| Q3 25 | 6.8% | -28.6% | ||
| Q2 25 | 9.6% | 8.4% | ||
| Q1 25 | 49.9% | 7.3% | ||
| Q4 24 | -1.6% | — | ||
| Q3 24 | 7.6% | 12.3% | ||
| Q2 24 | 31.6% | 11.8% | ||
| Q1 24 | 12.9% | 8.5% |
每股收益（稀释后）HIWROCK
| Q4 25 | $0.25 | — | ||
| Q3 25 | $0.12 | $-2.98 | ||
| Q2 25 | $0.17 | $0.87 | ||
| Q1 25 | $0.91 | — | ||
| Q4 24 | $-0.04 | — | ||
| Q3 24 | $0.14 | $1.11 | ||
| Q2 24 | $0.59 | $1.05 | ||
| Q1 24 | $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 | $27.4M | $115.7M |
| 总债务越低越好 | — | $0 |
| 股东权益账面价值 | $2.4B | $950.4M |
| 总资产 | $6.3B | $1.4B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资HIWROCK
| Q4 25 | $27.4M | $115.7M | ||
| Q3 25 | $26.3M | $89.4M | ||
| Q2 25 | $21.2M | $43.3M | ||
| Q1 25 | $20.1M | $25.1M | ||
| Q4 24 | $22.4M | $269.5M | ||
| Q3 24 | $23.6M | $228.9M | ||
| Q2 24 | $27.0M | $179.1M | ||
| Q1 24 | $16.4M | $146.7M |
总债务HIWROCK
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
股东权益HIWROCK
| Q4 25 | $2.4B | $950.4M | ||
| Q3 25 | $2.4B | $951.8M | ||
| Q2 25 | $2.4B | $1.0B | ||
| Q1 25 | $2.4B | $1.0B | ||
| Q4 24 | $2.4B | $1.0B | ||
| Q3 24 | $2.4B | $1.0B | ||
| Q2 24 | $2.4B | $975.7M | ||
| Q1 24 | $2.4B | $940.2M |
总资产HIWROCK
| Q4 25 | $6.3B | $1.4B | ||
| Q3 25 | $6.1B | $1.4B | ||
| Q2 25 | $6.1B | $1.5B | ||
| Q1 25 | $6.1B | $1.4B | ||
| Q4 24 | $6.0B | $1.4B | ||
| Q3 24 | $6.0B | $1.4B | ||
| Q2 24 | $6.0B | $1.4B | ||
| Q1 24 | $6.0B | $1.3B |
负债/权益比HIWROCK
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $359.2M | $35.5M |
| 自由现金流经营现金流 - 资本支出 | — | $26.2M |
| 自由现金流率自由现金流/营收 | — | 11.7% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 现金转化率经营现金流/净利润 | 12.09× | — |
| 过去12个月自由现金流最近4个季度 | — | $120.6M |
8季度趋势，按日历期对齐
经营现金流HIWROCK
| Q4 25 | $359.2M | $35.5M | ||
| Q3 25 | $96.7M | $73.0M | ||
| Q2 25 | $116.5M | $44.9M | ||
| Q1 25 | $46.3M | $13.7M | ||
| Q4 24 | $403.6M | $19.9M | ||
| Q3 24 | $97.5M | $64.7M | ||
| Q2 24 | $130.0M | $36.5M | ||
| Q1 24 | $72.4M | $53.2M |
自由现金流HIWROCK
| Q4 25 | — | $26.2M | ||
| Q3 25 | — | $64.8M | ||
| Q2 25 | — | $27.3M | ||
| Q1 25 | — | $2.3M | ||
| Q4 24 | — | $14.1M | ||
| Q3 24 | — | $60.5M | ||
| Q2 24 | — | $33.5M | ||
| Q1 24 | — | $48.8M |
自由现金流率HIWROCK
| Q4 25 | — | 11.7% | ||
| Q3 25 | — | 20.8% | ||
| Q2 25 | — | 8.8% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | 12.2% | ||
| Q1 24 | — | 16.7% |
资本支出强度HIWROCK
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 1.5% |
现金转化率HIWROCK
| Q4 25 | 12.09× | — | ||
| Q3 25 | 7.05× | — | ||
| Q2 25 | 6.06× | 1.73× | ||
| Q1 25 | 0.46× | 0.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | 6.30× | 1.90× | ||
| Q2 24 | 2.01× | 1.13× | ||
| Q1 24 | 2.66× | 2.13× |
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
HIW
| Raleigh NC | $45.6M | 22% |
| Nashville TN | $38.7M | 19% |
| Atlanta GA | $36.1M | 18% |
| Charlotte NC | $26.1M | 13% |
| Tampa FL | $22.2M | 11% |
| Orlando FL | $14.4M | 7% |
| Other | $11.4M | 6% |
| Richmond VA | $8.8M | 4% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
