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LTC PROPERTIES INC（LTC）与STEM, INC.（STEM）财务数据对比。点击上方公司名可切换其他公司
LTC PROPERTIES INC的季度营收约是STEM, INC.的1.8倍（$84.3M vs $47.1M），LTC PROPERTIES INC净利率更高（123.0% vs -33.9%，领先156.9%），LTC PROPERTIES INC同比增速更快（60.3% vs -15.6%），过去两年STEM, INC.的营收复合增速更高（36.1% vs 28.1%）
LTC Properties Inc是一家总部位于美国的房地产投资信托企业，核心业务为持有、融资及运营老年住宅与医疗相关不动产，投资组合涵盖辅助生活设施、专业护理物业、记忆照护中心及独立生活社区，服务美国养老与医疗领域运营方。
该公司是一家公开上市的生物制药企业，总部位于加利福尼亚州纽瓦克，专注研发纯化人类神经干细胞，旨在治疗中枢神经系统疾病与瘫痪，其所研发的神经干细胞可分化为中枢神经系统的神经元、星形胶质细胞与少突胶质细胞这三大主要细胞类型。
LTC vs STEM — 直观对比
营收规模更大
LTC
是对方的1.8倍
$47.1M
营收增速更快
LTC
高出75.9%
-15.6%
净利率更高
LTC
高出156.9%
-33.9%
两年增速更快
STEM
近两年复合增速
28.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $84.3M | $47.1M |
| 净利润 | $103.7M | $-16.0M |
| 毛利率 | — | 48.9% |
| 营业利润率 | — | -17.7% |
| 净利率 | 123.0% | -33.9% |
| 营收同比 | 60.3% | -15.6% |
| 净利润同比 | 429.1% | 68.8% |
| 每股收益（稀释后） | $2.19 | $-4.40 |
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LTCSTEM
| Q4 25 | $84.3M | $47.1M | ||
| Q3 25 | $69.3M | $38.2M | ||
| Q2 25 | $60.2M | $38.4M | ||
| Q1 25 | $49.0M | $32.5M | ||
| Q4 24 | $52.6M | $55.8M | ||
| Q3 24 | $55.8M | $29.3M | ||
| Q2 24 | $50.1M | $34.0M | ||
| Q1 24 | $51.4M | $25.5M |
净利润LTCSTEM
| Q4 25 | $103.7M | $-16.0M | ||
| Q3 25 | $-20.0M | $-23.8M | ||
| Q2 25 | $15.1M | $202.5M | ||
| Q1 25 | $20.7M | $-25.0M | ||
| Q4 24 | $19.6M | $-51.1M | ||
| Q3 24 | $29.4M | $-148.3M | ||
| Q2 24 | $19.4M | $-582.3M | ||
| Q1 24 | $24.2M | $-72.3M |
毛利率LTCSTEM
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
营业利润率LTCSTEM
| Q4 25 | — | -17.7% | ||
| Q3 25 | 71.9% | -33.6% | ||
| Q2 25 | 80.5% | -34.8% | ||
| Q1 25 | 37.8% | -65.0% | ||
| Q4 24 | — | -84.4% | ||
| Q3 24 | 95.5% | -493.2% | ||
| Q2 24 | 38.0% | -1705.5% | ||
| Q1 24 | 47.3% | -267.0% |
净利率LTCSTEM
| Q4 25 | 123.0% | -33.9% | ||
| Q3 25 | -28.9% | -62.2% | ||
| Q2 25 | 25.1% | 527.8% | ||
| Q1 25 | 42.2% | -76.9% | ||
| Q4 24 | 37.3% | -91.6% | ||
| Q3 24 | 52.6% | -506.3% | ||
| Q2 24 | 38.6% | -1712.6% | ||
| Q1 24 | 47.2% | -283.9% |
每股收益（稀释后）LTCSTEM
| Q4 25 | $2.19 | $-4.40 | ||
| Q3 25 | $-0.44 | $-2.84 | ||
| Q2 25 | $0.32 | $-1.79 | ||
| Q1 25 | $0.45 | $-0.15 | ||
| Q4 24 | $0.38 | $-15.29 | ||
| Q3 24 | $0.66 | $-18.24 | ||
| Q2 24 | $0.44 | $-71.81 | ||
| Q1 24 | $0.56 | $-0.46 |
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 | $14.4M | $48.9M |
| 总债务越低越好 | $842.2M | — |
| 股东权益账面价值 | $1.1B | $-249.4M |
| 总资产 | $2.1B | $308.9M |
| 负债/权益比越低杠杆越低 | 0.78× | — |
8季度趋势，按日历期对齐
现金及短期投资LTCSTEM
| Q4 25 | $14.4M | $48.9M | ||
| Q3 25 | $17.9M | $43.1M | ||
| Q2 25 | $7.6M | $40.8M | ||
| Q1 25 | $23.3M | $58.6M | ||
| Q4 24 | $9.4M | $56.3M | ||
| Q3 24 | $35.0M | $75.4M | ||
| Q2 24 | $6.2M | $89.6M | ||
| Q1 24 | $9.0M | $112.8M |
总债务LTCSTEM
| Q4 25 | $842.2M | — | ||
| Q3 25 | $944.5M | — | ||
| Q2 25 | $696.5M | — | ||
| Q1 25 | $682.2M | — | ||
| Q4 24 | $684.6M | — | ||
| Q3 24 | $785.3M | — | ||
| Q2 24 | $861.0M | — | ||
| Q1 24 | $860.2M | — |
股东权益LTCSTEM
| Q4 25 | $1.1B | $-249.4M | ||
| Q3 25 | $957.9M | $-235.7M | ||
| Q2 25 | $957.5M | $-214.1M | ||
| Q1 25 | $961.9M | $-417.5M | ||
| Q4 24 | $960.6M | $-398.4M | ||
| Q3 24 | $947.8M | $-344.1M | ||
| Q2 24 | $889.1M | $-203.2M | ||
| Q1 24 | $886.2M | $371.6M |
总资产LTCSTEM
| Q4 25 | $2.1B | $308.9M | ||
| Q3 25 | $2.0B | $362.6M | ||
| Q2 25 | $1.8B | $379.2M | ||
| Q1 25 | $1.8B | $405.1M | ||
| Q4 24 | $1.8B | $437.4M | ||
| Q3 24 | $1.9B | $537.8M | ||
| Q2 24 | $1.9B | $691.5M | ||
| Q1 24 | $1.8B | $1.3B |
负债/权益比LTCSTEM
| Q4 25 | 0.78× | — | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 0.71× | — | ||
| Q3 24 | 0.83× | — | ||
| Q2 24 | 0.97× | — | ||
| Q1 24 | 0.97× | — |
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 | $136.0M | $8.2M |
| 自由现金流经营现金流 - 资本支出 | $128.7M | — |
| 自由现金流率自由现金流/营收 | 152.7% | — |
| 资本支出强度资本支出/营收 | 8.6% | — |
| 现金转化率经营现金流/净利润 | 1.31× | — |
| 过去12个月自由现金流最近4个季度 | $220.1M | — |
8季度趋势，按日历期对齐
经营现金流LTCSTEM
| Q4 25 | $136.0M | $8.2M | ||
| Q3 25 | $38.4M | $11.4M | ||
| Q2 25 | $30.0M | $-21.3M | ||
| Q1 25 | $29.6M | $8.5M | ||
| Q4 24 | $125.9M | $-14.7M | ||
| Q3 24 | $34.0M | $-9.4M | ||
| Q2 24 | $37.0M | $-11.9M | ||
| Q1 24 | $21.1M | $-621.0K |
自由现金流LTCSTEM
| Q4 25 | $128.7M | — | ||
| Q3 25 | $34.3M | — | ||
| Q2 25 | $28.9M | — | ||
| Q1 25 | $28.2M | — | ||
| Q4 24 | $112.2M | — | ||
| Q3 24 | $27.7M | — | ||
| Q2 24 | $34.7M | — | ||
| Q1 24 | $19.7M | — |
自由现金流率LTCSTEM
| Q4 25 | 152.7% | — | ||
| Q3 25 | 49.4% | — | ||
| Q2 25 | 47.9% | — | ||
| Q1 25 | 57.6% | — | ||
| Q4 24 | 213.4% | — | ||
| Q3 24 | 49.7% | — | ||
| Q2 24 | 69.1% | — | ||
| Q1 24 | 38.4% | — |
资本支出强度LTCSTEM
| Q4 25 | 8.6% | — | ||
| Q3 25 | 6.0% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 2.7% | — | ||
| Q4 24 | 26.0% | — | ||
| Q3 24 | 11.2% | — | ||
| Q2 24 | 4.6% | — | ||
| Q1 24 | 2.6% | — |
现金转化率LTCSTEM
| Q4 25 | 1.31× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.99× | -0.11× | ||
| Q1 25 | 1.43× | — | ||
| Q4 24 | 6.43× | — | ||
| Q3 24 | 1.16× | — | ||
| Q2 24 | 1.91× | — | ||
| Q1 24 | 0.87× | — |
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
LTC
| Seniors Housing Operating Portfolio Segment | $72.1M | 86% |
| Other | $12.2M | 14% |
STEM
暂无分部数据
