vs
Keurig Dr Pepper（KDP）与Welltower（WELL）财务数据对比。点击上方公司名可切换其他公司
Keurig Dr Pepper的季度营收约是Welltower的1.2倍（$4.0B vs $3.4B），Welltower净利率更高（22.4% vs 6.8%，领先15.7%），Welltower同比增速更快（38.3% vs 9.4%），过去两年Welltower的营收复合增速更高（55.1% vs 0.7%）
Keurig Dr Pepper是美国上市的饮品与咖啡机综合企业，2018年由克里格绿山和胡椒博士斯奈普集团合并成立，在马萨诸塞州伯灵顿及得克萨斯州弗里斯科设有双总部，旗下拥有超125款冷热饮品，加拿大区域业务由当地子公司负责运营。
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。
KDP vs WELL — 直观对比
营收规模更大
KDP
是对方的1.2倍
$3.4B
营收增速更快
WELL
高出29.0%
9.4%
净利率更高
WELL
高出15.7%
6.8%
两年增速更快
WELL
近两年复合增速
0.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $3.4B |
| 净利润 | $270.0M | $752.3M |
| 毛利率 | 52.8% | — |
| 营业利润率 | 19.0% | — |
| 净利率 | 6.8% | 22.4% |
| 营收同比 | 9.4% | 38.3% |
| 净利润同比 | -47.8% | 192.4% |
| 每股收益（稀释后） | $0.20 | — |
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KDPWELL
| Q1 26 | $4.0B | $3.4B | ||
| Q4 25 | $4.5B | $2.6B | ||
| Q3 25 | $4.3B | $2.1B | ||
| Q2 25 | $4.2B | $2.0B | ||
| Q1 25 | $3.6B | $1.9B | ||
| Q4 24 | $4.1B | $1.8B | ||
| Q3 24 | $3.9B | $1.5B | ||
| Q2 24 | $3.9B | $1.4B |
净利润KDPWELL
| Q1 26 | $270.0M | $752.3M | ||
| Q4 25 | $353.0M | $117.8M | ||
| Q3 25 | $662.0M | $282.2M | ||
| Q2 25 | $547.0M | $304.6M | ||
| Q1 25 | $517.0M | $257.3M | ||
| Q4 24 | $-144.0M | $123.8M | ||
| Q3 24 | $616.0M | $456.8M | ||
| Q2 24 | $515.0M | $260.7M |
毛利率KDPWELL
| Q1 26 | 52.8% | — | ||
| Q4 25 | 53.8% | 24.3% | ||
| Q3 25 | 54.3% | 23.5% | ||
| Q2 25 | 54.2% | 23.2% | ||
| Q1 25 | 54.6% | 21.6% | ||
| Q4 24 | 55.9% | 20.0% | ||
| Q3 24 | 55.0% | 19.8% | ||
| Q2 24 | 55.4% | 20.2% |
营业利润率KDPWELL
| Q1 26 | 19.0% | — | ||
| Q4 25 | 19.6% | — | ||
| Q3 25 | 23.1% | 14.2% | ||
| Q2 25 | 21.6% | 15.1% | ||
| Q1 25 | 22.0% | 10.7% | ||
| Q4 24 | 1.5% | 6.2% | ||
| Q3 24 | 23.2% | 12.2% | ||
| Q2 24 | 22.0% | 6.5% |
净利率KDPWELL
| Q1 26 | 6.8% | 22.4% | ||
| Q4 25 | 7.8% | 4.6% | ||
| Q3 25 | 15.4% | 13.7% | ||
| Q2 25 | 13.1% | 15.5% | ||
| Q1 25 | 14.2% | 13.8% | ||
| Q4 24 | -3.5% | 7.0% | ||
| Q3 24 | 15.8% | 30.2% | ||
| Q2 24 | 13.1% | 18.7% |
每股收益（稀释后）KDPWELL
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.26 | $0.13 | ||
| Q3 25 | $0.49 | $0.41 | ||
| Q2 25 | $0.40 | $0.45 | ||
| Q1 25 | $0.38 | $0.40 | ||
| Q4 24 | $-0.11 | $0.20 | ||
| Q3 24 | $0.45 | $0.73 | ||
| Q2 24 | $0.38 | $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 | $898.0M | $4.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $25.3B | $44.7B |
| 总资产 | $73.1B | $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KDPWELL
| Q1 26 | $898.0M | $4.7B | ||
| Q4 25 | $1.0B | $5.0B | ||
| Q3 25 | $516.0M | $6.8B | ||
| Q2 25 | $509.0M | $4.4B | ||
| Q1 25 | $653.0M | $3.5B | ||
| Q4 24 | $510.0M | $3.5B | ||
| Q3 24 | $552.0M | $3.6B | ||
| Q2 24 | $438.0M | $2.8B |
总债务KDPWELL
| Q1 26 | — | — | ||
| Q4 25 | — | $19.2B | ||
| Q3 25 | — | $16.9B | ||
| Q2 25 | — | $16.0B | ||
| Q1 25 | — | $15.7B | ||
| Q4 24 | — | $15.5B | ||
| Q3 24 | — | $15.8B | ||
| Q2 24 | — | $13.9B |
股东权益KDPWELL
| Q1 26 | $25.3B | $44.7B | ||
| Q4 25 | $25.5B | $42.1B | ||
| Q3 25 | $25.3B | $38.8B | ||
| Q2 25 | $25.0B | $35.9B | ||
| Q1 25 | $24.4B | $34.0B | ||
| Q4 24 | $24.2B | $32.0B | ||
| Q3 24 | $25.0B | $30.3B | ||
| Q2 24 | $24.7B | $29.0B |
总资产KDPWELL
| Q1 26 | $73.1B | $67.2B | ||
| Q4 25 | $55.5B | $67.3B | ||
| Q3 25 | $54.6B | $59.5B | ||
| Q2 25 | $54.4B | $55.8B | ||
| Q1 25 | $53.7B | $53.3B | ||
| Q4 24 | $53.4B | $51.0B | ||
| Q3 24 | $52.7B | $49.0B | ||
| Q2 24 | $52.3B | $45.5B |
负债/权益比KDPWELL
| 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 | $281.0M | — |
| 自由现金流经营现金流 - 资本支出 | $184.0M | — |
| 自由现金流率自由现金流/营收 | 4.6% | — |
| 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 | 1.04× | — |
| 过去12个月自由现金流最近4个季度 | $1.6B | — |
8季度趋势，按日历期对齐
经营现金流KDPWELL
| Q1 26 | $281.0M | — | ||
| Q4 25 | $712.0M | $654.3M | ||
| Q3 25 | $639.0M | $858.4M | ||
| Q2 25 | $431.0M | $770.0M | ||
| Q1 25 | $209.0M | $599.0M | ||
| Q4 24 | $849.0M | $559.2M | ||
| Q3 24 | $628.0M | $685.0M | ||
| Q2 24 | $657.0M | $605.4M |
自由现金流KDPWELL
| Q1 26 | $184.0M | — | ||
| Q4 25 | $564.0M | $340.4M | ||
| Q3 25 | $527.0M | $595.3M | ||
| Q2 25 | $325.0M | $537.2M | ||
| Q1 25 | $89.0M | $358.6M | ||
| Q4 24 | $684.0M | $240.4M | ||
| Q3 24 | $503.0M | $443.8M | ||
| Q2 24 | $542.0M | $440.3M |
自由现金流率KDPWELL
| Q1 26 | 4.6% | — | ||
| Q4 25 | 12.5% | 13.3% | ||
| Q3 25 | 12.2% | 28.9% | ||
| Q2 25 | 7.8% | 27.3% | ||
| Q1 25 | 2.4% | 19.2% | ||
| Q4 24 | 16.8% | 13.6% | ||
| Q3 24 | 12.9% | 29.4% | ||
| Q2 24 | 13.8% | 31.6% |
资本支出强度KDPWELL
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 12.3% | ||
| Q3 25 | 2.6% | 12.8% | ||
| Q2 25 | 2.5% | 11.8% | ||
| Q1 25 | 3.3% | 12.9% | ||
| Q4 24 | 4.1% | 18.1% | ||
| Q3 24 | 3.2% | 16.0% | ||
| Q2 24 | 2.9% | 11.8% |
现金转化率KDPWELL
| Q1 26 | 1.04× | — | ||
| Q4 25 | 2.02× | 5.56× | ||
| Q3 25 | 0.97× | 3.04× | ||
| Q2 25 | 0.79× | 2.53× | ||
| Q1 25 | 0.40× | 2.33× | ||
| Q4 24 | — | 4.52× | ||
| Q3 24 | 1.02× | 1.50× | ||
| Q2 24 | 1.28× | 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
KDP
| U.S. Refreshment Beverages | $2.6B | 65% |
| U.S. Coffee | $877.0M | 22% |
| International | $435.0M | 11% |
WELL
| Resident fees and services | $2.8B | 83% |
| Rental income | $453.8M | 14% |
| Other | $117.2M | 3% |
