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Iron Mountain（IRM）与Welltower（WELL）财务数据对比。点击上方公司名可切换其他公司
Welltower的季度营收约是Iron Mountain的1.8倍（$3.4B vs $1.8B），Welltower净利率更高（22.4% vs 5.1%，领先17.4%），Welltower同比增速更快（38.3% vs 16.6%），过去两年Welltower的营收复合增速更高（55.1% vs 11.7%）
Iron Mountain是1951年成立的美国企业信息管理服务提供商，总部位于新罕布什尔州朴茨茅斯。核心业务涵盖档案管理、信息销毁、数据备份与恢复，服务覆盖全球六大洲58个国家，为超过22万客户提供专业解决方案。
Welltower Inc.是一家专注于医疗基础设施领域的房地产投资信托企业，核心业务为医疗类地产投资运营。截至2022年12月31日，公司投资的物业总量约3000处，全部布局于美国、加拿大及英国市场，是全球医疗地产投资领域的代表性企业之一。
IRM vs WELL — 直观对比
营收规模更大
WELL
是对方的1.8倍
$1.8B
营收增速更快
WELL
高出21.8%
16.6%
净利率更高
WELL
高出17.4%
5.1%
两年增速更快
WELL
近两年复合增速
11.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $3.4B |
| 净利润 | $93.1M | $752.3M |
| 毛利率 | — | — |
| 营业利润率 | 18.5% | — |
| 净利率 | 5.1% | 22.4% |
| 营收同比 | 16.6% | 38.3% |
| 净利润同比 | -11.9% | 192.4% |
| 每股收益（稀释后） | $0.31 | — |
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IRMWELL
| Q1 26 | — | $3.4B | ||
| Q4 25 | $1.8B | $2.6B | ||
| Q3 25 | $1.8B | $2.1B | ||
| Q2 25 | $1.7B | $2.0B | ||
| Q1 25 | $1.6B | $1.9B | ||
| Q4 24 | $1.6B | $1.8B | ||
| Q3 24 | $1.6B | $1.5B | ||
| Q2 24 | $1.5B | $1.4B |
净利润IRMWELL
| Q1 26 | — | $752.3M | ||
| Q4 25 | $93.1M | $117.8M | ||
| Q3 25 | $86.2M | $282.2M | ||
| Q2 25 | $-43.3M | $304.6M | ||
| Q1 25 | $16.2M | $257.3M | ||
| Q4 24 | $105.7M | $123.8M | ||
| Q3 24 | $-33.7M | $456.8M | ||
| Q2 24 | $34.6M | $260.7M |
毛利率IRMWELL
| Q1 26 | — | — | ||
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 23.5% | ||
| Q2 25 | — | 23.2% | ||
| Q1 25 | — | 21.6% | ||
| Q4 24 | — | 20.0% | ||
| Q3 24 | — | 19.8% | ||
| Q2 24 | — | 20.2% |
营业利润率IRMWELL
| Q1 26 | — | — | ||
| Q4 25 | 18.5% | — | ||
| Q3 25 | 17.6% | 14.2% | ||
| Q2 25 | 15.2% | 15.1% | ||
| Q1 25 | 16.0% | 10.7% | ||
| Q4 24 | 17.9% | 6.2% | ||
| Q3 24 | 16.1% | 12.2% | ||
| Q2 24 | 15.0% | 6.5% |
净利率IRMWELL
| Q1 26 | — | 22.4% | ||
| Q4 25 | 5.1% | 4.6% | ||
| Q3 25 | 4.9% | 13.7% | ||
| Q2 25 | -2.5% | 15.5% | ||
| Q1 25 | 1.0% | 13.8% | ||
| Q4 24 | 6.7% | 7.0% | ||
| Q3 24 | -2.2% | 30.2% | ||
| Q2 24 | 2.3% | 18.7% |
每股收益（稀释后）IRMWELL
| Q1 26 | — | — | ||
| Q4 25 | $0.31 | $0.13 | ||
| Q3 25 | $0.28 | $0.41 | ||
| Q2 25 | $-0.15 | $0.45 | ||
| Q1 25 | $0.05 | $0.40 | ||
| Q4 24 | $0.35 | $0.20 | ||
| Q3 24 | $-0.11 | $0.73 | ||
| Q2 24 | $0.12 | $0.42 |
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 | $158.5M | $4.7B |
| 总债务越低越好 | $16.2B | — |
| 股东权益账面价值 | $-981.0M | $44.7B |
| 总资产 | $21.1B | $67.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资IRMWELL
| Q1 26 | — | $4.7B | ||
| Q4 25 | $158.5M | $5.0B | ||
| Q3 25 | — | $6.8B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | $155.7M | $3.5B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $2.8B |
总债务IRMWELL
| Q1 26 | — | — | ||
| Q4 25 | $16.2B | $19.2B | ||
| Q3 25 | $15.5B | $16.9B | ||
| Q2 25 | $14.8B | $16.0B | ||
| Q1 25 | $14.2B | $15.7B | ||
| Q4 24 | $13.0B | $15.5B | ||
| Q3 24 | $13.2B | $15.8B | ||
| Q2 24 | $12.8B | $13.9B |
股东权益IRMWELL
| Q1 26 | — | $44.7B | ||
| Q4 25 | $-981.0M | $42.1B | ||
| Q3 25 | $-882.0M | $38.8B | ||
| Q2 25 | $-767.4M | $35.9B | ||
| Q1 25 | $-698.5M | $34.0B | ||
| Q4 24 | $-503.1M | $32.0B | ||
| Q3 24 | $-259.0M | $30.3B | ||
| Q2 24 | $-132.9M | $29.0B |
总资产IRMWELL
| Q1 26 | — | $67.2B | ||
| Q4 25 | $21.1B | $67.3B | ||
| Q3 25 | $20.6B | $59.5B | ||
| Q2 25 | $20.2B | $55.8B | ||
| Q1 25 | $19.4B | $53.3B | ||
| Q4 24 | $18.7B | $51.0B | ||
| Q3 24 | $18.5B | $49.0B | ||
| Q2 24 | $18.0B | $45.5B |
负债/权益比IRMWELL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.46× | ||
| Q4 24 | — | 0.49× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.48× |
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 | $500.0M | — |
| 自由现金流经营现金流 - 资本支出 | $-16.2M | — |
| 自由现金流率自由现金流/营收 | -0.9% | — |
| 资本支出强度资本支出/营收 | 28.0% | — |
| 现金转化率经营现金流/净利润 | 5.37× | — |
| 过去12个月自由现金流最近4个季度 | $-931.6M | — |
8季度趋势，按日历期对齐
经营现金流IRMWELL
| Q1 26 | — | — | ||
| Q4 25 | $500.0M | $654.3M | ||
| Q3 25 | $267.6M | $858.4M | ||
| Q2 25 | $375.1M | $770.0M | ||
| Q1 25 | $197.3M | $599.0M | ||
| Q4 24 | $431.6M | $559.2M | ||
| Q3 24 | $252.9M | $685.0M | ||
| Q2 24 | $382.2M | $605.4M |
自由现金流IRMWELL
| Q1 26 | — | — | ||
| Q4 25 | $-16.2M | $340.4M | ||
| Q3 25 | $-256.3M | $595.3M | ||
| Q2 25 | $-181.6M | $537.2M | ||
| Q1 25 | $-477.5M | $358.6M | ||
| Q4 24 | $-186.0M | $240.4M | ||
| Q3 24 | $-143.2M | $443.8M | ||
| Q2 24 | $-14.6M | $440.3M |
自由现金流率IRMWELL
| Q1 26 | — | — | ||
| Q4 25 | -0.9% | 13.3% | ||
| Q3 25 | -14.6% | 28.9% | ||
| Q2 25 | -10.6% | 27.3% | ||
| Q1 25 | -30.0% | 19.2% | ||
| Q4 24 | -11.8% | 13.6% | ||
| Q3 24 | -9.2% | 29.4% | ||
| Q2 24 | -1.0% | 31.6% |
资本支出强度IRMWELL
| Q1 26 | — | — | ||
| Q4 25 | 28.0% | 12.3% | ||
| Q3 25 | 29.9% | 12.8% | ||
| Q2 25 | 32.5% | 11.8% | ||
| Q1 25 | 42.4% | 12.9% | ||
| Q4 24 | 39.1% | 18.1% | ||
| Q3 24 | 25.4% | 16.0% | ||
| Q2 24 | 25.9% | 11.8% |
现金转化率IRMWELL
| Q1 26 | — | — | ||
| Q4 25 | 5.37× | 5.56× | ||
| Q3 25 | 3.10× | 3.04× | ||
| Q2 25 | — | 2.53× | ||
| Q1 25 | 12.15× | 2.33× | ||
| Q4 24 | 4.08× | 4.52× | ||
| Q3 24 | — | 1.50× | ||
| Q2 24 | 11.04× | 2.32× |
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
IRM
| Storage Rental | $1.1B | 58% |
| Services | $781.9M | 42% |
WELL
| Resident fees and services | $2.8B | 83% |
| Rental income | $453.8M | 14% |
| Other | $117.2M | 3% |
