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Life Time Group Holdings, Inc.（LTH）与STARWOOD PROPERTY TRUST, INC.（STWD）财务数据对比。点击上方公司名可切换其他公司
Life Time Group Holdings, Inc.的季度营收约是STARWOOD PROPERTY TRUST, INC.的1.5倍（$745.1M vs $492.9M），STARWOOD PROPERTY TRUST, INC.净利率更高（19.7% vs 16.5%，领先3.2%），Life Time Group Holdings, Inc.同比增速更快（12.3% vs 8.5%），过去两年Life Time Group Holdings, Inc.的营收复合增速更高（11.7% vs -2.9%）
Life Time Group Holdings是美国高端健身康养服务运营商，在全美运营连锁高端运动场馆，提供健身器材使用、团体课程、私教指导、SPA护理、营养咨询、青少年运动项目及联合办公等服务，服务于追求健康生活方式的消费群体。
喜达屋酒店及度假村国际集团是全球规模最大的酒店企业之一，业务涵盖酒店、度假村、水疗中心、住宅及度假产权物业的持有、运营、特许经营与管理。集团前身为1969年成立的房地产投资信托基金，1995年完成收购重组，旗下共11个品牌，管理及特许经营的物业共计1297处。
LTH vs STWD — 直观对比
营收规模更大
LTH
是对方的1.5倍
$492.9M
营收增速更快
LTH
高出3.8%
8.5%
净利率更高
STWD
高出3.2%
16.5%
两年增速更快
LTH
近两年复合增速
-2.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $745.1M | $492.9M |
| 净利润 | $123.0M | $96.9M |
| 毛利率 | 49.1% | — |
| 营业利润率 | 17.4% | 26.6% |
| 净利率 | 16.5% | 19.7% |
| 营收同比 | 12.3% | 8.5% |
| 净利润同比 | 231.0% | 87.7% |
| 每股收益（稀释后） | $0.55 | $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LTHSTWD
| Q4 25 | $745.1M | $492.9M | ||
| Q3 25 | $782.6M | $488.9M | ||
| Q2 25 | $761.5M | $444.3M | ||
| Q1 25 | $706.0M | $418.2M | ||
| Q4 24 | $663.3M | $454.4M | ||
| Q3 24 | $693.2M | $479.5M | ||
| Q2 24 | $667.8M | $489.8M | ||
| Q1 24 | $596.7M | $523.1M |
净利润LTHSTWD
| Q4 25 | $123.0M | $96.9M | ||
| Q3 25 | $102.4M | $72.6M | ||
| Q2 25 | $72.1M | $129.8M | ||
| Q1 25 | $76.1M | $112.3M | ||
| Q4 24 | $37.2M | $51.6M | ||
| Q3 24 | $41.4M | $76.1M | ||
| Q2 24 | $52.8M | $77.9M | ||
| Q1 24 | $24.9M | $154.3M |
毛利率LTHSTWD
| Q4 25 | 49.1% | — | ||
| Q3 25 | 47.1% | — | ||
| Q2 25 | 47.0% | — | ||
| Q1 25 | 47.5% | — | ||
| Q4 24 | 48.2% | — | ||
| Q3 24 | 46.5% | — | ||
| Q2 24 | 46.8% | — | ||
| Q1 24 | 46.1% | — |
营业利润率LTHSTWD
| Q4 25 | 17.4% | 26.6% | ||
| Q3 25 | 17.3% | 19.1% | ||
| Q2 25 | 14.2% | 30.5% | ||
| Q1 25 | 15.2% | 28.7% | ||
| Q4 24 | 13.1% | 15.1% | ||
| Q3 24 | 13.5% | 17.2% | ||
| Q2 24 | 15.7% | 19.1% | ||
| Q1 24 | 12.1% | 30.8% |
净利率LTHSTWD
| Q4 25 | 16.5% | 19.7% | ||
| Q3 25 | 13.1% | 14.8% | ||
| Q2 25 | 9.5% | 29.2% | ||
| Q1 25 | 10.8% | 26.8% | ||
| Q4 24 | 5.6% | 11.4% | ||
| Q3 24 | 6.0% | 15.9% | ||
| Q2 24 | 7.9% | 15.9% | ||
| Q1 24 | 4.2% | 29.5% |
每股收益（稀释后）LTHSTWD
| Q4 25 | $0.55 | $0.25 | ||
| Q3 25 | $0.45 | $0.19 | ||
| Q2 25 | $0.32 | $0.38 | ||
| Q1 25 | $0.34 | $0.33 | ||
| Q4 24 | $0.17 | $0.15 | ||
| Q3 24 | $0.19 | $0.23 | ||
| Q2 24 | $0.26 | $0.24 | ||
| Q1 24 | $0.12 | $0.48 |
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 | $204.8M | $499.5M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $3.1B | $6.8B |
| 总资产 | $8.0B | $63.2B |
| 负债/权益比越低杠杆越低 | 0.48× | — |
8季度趋势，按日历期对齐
现金及短期投资LTHSTWD
| Q4 25 | $204.8M | $499.5M | ||
| Q3 25 | $218.9M | $301.1M | ||
| Q2 25 | $175.5M | $259.9M | ||
| Q1 25 | $59.0M | $440.6M | ||
| Q4 24 | $10.9M | $377.8M | ||
| Q3 24 | $120.9M | $357.9M | ||
| Q2 24 | $34.5M | $259.3M | ||
| Q1 24 | $18.6M | $327.4M |
总债务LTHSTWD
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $2.0B | — |
股东权益LTHSTWD
| Q4 25 | $3.1B | $6.8B | ||
| Q3 25 | $3.0B | $6.9B | ||
| Q2 25 | $2.9B | $6.4B | ||
| Q1 25 | $2.7B | $6.4B | ||
| Q4 24 | $2.6B | $6.4B | ||
| Q3 24 | $2.6B | $6.5B | ||
| Q2 24 | $2.4B | $6.2B | ||
| Q1 24 | $2.3B | $6.3B |
总资产LTHSTWD
| Q4 25 | $8.0B | $63.2B | ||
| Q3 25 | $7.8B | $62.4B | ||
| Q2 25 | $7.6B | $62.4B | ||
| Q1 25 | $7.3B | $62.2B | ||
| Q4 24 | $7.2B | $62.6B | ||
| Q3 24 | $7.2B | $64.2B | ||
| Q2 24 | $7.1B | $64.1B | ||
| Q1 24 | $7.1B | $66.2B |
负债/权益比LTHSTWD
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.59× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.78× | — | ||
| Q1 24 | 0.87× | — |
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 | $239.9M | $488.8M |
| 自由现金流经营现金流 - 资本支出 | $-64.6M | — |
| 自由现金流率自由现金流/营收 | -8.7% | — |
| 资本支出强度资本支出/营收 | 40.9% | — |
| 现金转化率经营现金流/净利润 | 1.95× | 5.04× |
| 过去12个月自由现金流最近4个季度 | $-21.0M | — |
8季度趋势，按日历期对齐
经营现金流LTHSTWD
| Q4 25 | $239.9M | $488.8M | ||
| Q3 25 | $251.1M | $337.6M | ||
| Q2 25 | $195.7M | $-87.4M | ||
| Q1 25 | $183.9M | $238.9M | ||
| Q4 24 | $163.1M | $295.6M | ||
| Q3 24 | $151.1M | $241.8M | ||
| Q2 24 | $170.4M | $53.3M | ||
| Q1 24 | $90.4M | $55.9M |
自由现金流LTHSTWD
| Q4 25 | $-64.6M | — | ||
| Q3 25 | $28.6M | — | ||
| Q2 25 | $-26.3M | — | ||
| Q1 25 | $41.4M | — | ||
| Q4 24 | $26.8M | — | ||
| Q3 24 | $64.0M | — | ||
| Q2 24 | $26.1M | — | ||
| Q1 24 | $-66.4M | — |
自由现金流率LTHSTWD
| Q4 25 | -8.7% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | -3.5% | — | ||
| Q1 25 | 5.9% | — | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 9.2% | — | ||
| Q2 24 | 3.9% | — | ||
| Q1 24 | -11.1% | — |
资本支出强度LTHSTWD
| Q4 25 | 40.9% | — | ||
| Q3 25 | 28.4% | — | ||
| Q2 25 | 29.2% | — | ||
| Q1 25 | 20.2% | — | ||
| Q4 24 | 20.6% | — | ||
| Q3 24 | 12.6% | — | ||
| Q2 24 | 21.6% | — | ||
| Q1 24 | 26.3% | — |
现金转化率LTHSTWD
| Q4 25 | 1.95× | 5.04× | ||
| Q3 25 | 2.45× | 4.65× | ||
| Q2 25 | 2.71× | -0.67× | ||
| Q1 25 | 2.41× | 2.13× | ||
| Q4 24 | 4.39× | 5.72× | ||
| Q3 24 | 3.65× | 3.18× | ||
| Q2 24 | 3.23× | 0.68× | ||
| Q1 24 | 3.63× | 0.36× |
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
LTH
| Membership | $535.1M | 72% |
| In Center | $191.2M | 26% |
| Other | $18.8M | 3% |
STWD
| Commercial And Residential Lending Segment | $335.2M | 68% |
| Infrastructure Lending Segment | $70.3M | 14% |
| Property Segment | $57.8M | 12% |
| Other | $29.7M | 6% |
