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Mid-America Apartment Communities（MAA）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
Ryman Hospitality Properties, Inc.的季度营收约是Mid-America Apartment Communities的1.3倍（$737.8M vs $553.7M），Mid-America Apartment Communities同比增速更快（438.7% vs 13.9%），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 0.7%）
Mid-America Apartment Communities（股票代码：MAA）是一家公开上市的房地产投资信托基金，总部位于美国田纳西州孟菲斯市，核心业务为投资美国东南部及西南部地区的公寓物业，深耕美国高增长区域住宅不动产赛道，为股东创造稳定的长期投资回报。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
MAA vs RHP — 直观对比
营收规模更大
RHP
是对方的1.3倍
$553.7M
营收增速更快
MAA
高出424.8%
13.9%
两年增速更快
RHP
近两年复合增速
0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $553.7M | $737.8M |
| 净利润 | — | $74.5M |
| 毛利率 | — | 41.4% |
| 营业利润率 | — | 19.4% |
| 净利率 | — | 10.1% |
| 营收同比 | 438.7% | 13.9% |
| 净利润同比 | — | 3.0% |
| 每股收益（稀释后） | $4.34 | $1.12 |
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MAARHP
| Q1 26 | $553.7M | — | ||
| Q4 25 | $555.6M | $737.8M | ||
| Q3 25 | $554.4M | $592.5M | ||
| Q2 25 | $549.9M | $659.5M | ||
| Q1 25 | $549.3M | $587.3M | ||
| Q4 24 | $549.8M | $647.6M | ||
| Q3 24 | $551.1M | $550.0M | ||
| Q2 24 | $546.4M | $613.3M |
净利润MAARHP
| Q1 26 | — | — | ||
| Q4 25 | $57.6M | $74.5M | ||
| Q3 25 | $99.5M | $34.9M | ||
| Q2 25 | $108.1M | $71.8M | ||
| Q1 25 | $181.7M | $63.0M | ||
| Q4 24 | $166.6M | $72.3M | ||
| Q3 24 | $115.2M | $59.0M | ||
| Q2 24 | $102.0M | $100.8M |
毛利率MAARHP
| Q1 26 | — | — | ||
| Q4 25 | — | 41.4% | ||
| Q3 25 | — | 40.9% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 44.4% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | — | 43.1% | ||
| Q2 24 | — | 48.4% |
营业利润率MAARHP
| Q1 26 | — | — | ||
| Q4 25 | 10.4% | 19.4% | ||
| Q3 25 | 18.7% | 15.0% | ||
| Q2 25 | 20.2% | 21.1% | ||
| Q1 25 | 34.0% | 19.8% | ||
| Q4 24 | 31.3% | 18.6% | ||
| Q3 24 | 21.5% | 19.3% | ||
| Q2 24 | 19.3% | 27.4% |
净利率MAARHP
| Q1 26 | — | — | ||
| Q4 25 | 10.4% | 10.1% | ||
| Q3 25 | 18.0% | 5.9% | ||
| Q2 25 | 19.7% | 10.9% | ||
| Q1 25 | 33.1% | 10.7% | ||
| Q4 24 | 30.3% | 11.2% | ||
| Q3 24 | 20.9% | 10.7% | ||
| Q2 24 | 18.7% | 16.4% |
每股收益（稀释后）MAARHP
| Q1 26 | $4.34 | — | ||
| Q4 25 | $0.48 | $1.12 | ||
| Q3 25 | $0.84 | $0.53 | ||
| Q2 25 | $0.92 | $1.12 | ||
| Q1 25 | $1.54 | $1.00 | ||
| Q4 24 | $1.43 | $1.12 | ||
| Q3 24 | $0.98 | $0.94 | ||
| Q2 24 | $0.86 | $1.65 |
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 | — | $471.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $750.2M |
| 总资产 | — | $6.2B |
| 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MAARHP
| Q1 26 | — | — | ||
| Q4 25 | $60.3M | $471.4M | ||
| Q3 25 | $32.2M | $483.3M | ||
| Q2 25 | $54.5M | $420.6M | ||
| Q1 25 | $55.8M | $413.9M | ||
| Q4 24 | $43.0M | $477.7M | ||
| Q3 24 | $50.2M | $534.9M | ||
| Q2 24 | $62.8M | $498.4M |
股东权益MAARHP
| Q1 26 | — | — | ||
| Q4 25 | $5.7B | $750.2M | ||
| Q3 25 | $5.8B | $758.5M | ||
| Q2 25 | $5.9B | $800.4M | ||
| Q1 25 | $5.9B | $531.5M | ||
| Q4 24 | $5.9B | $549.0M | ||
| Q3 24 | $5.9B | $551.9M | ||
| Q2 24 | $6.0B | $562.6M |
总资产MAARHP
| Q1 26 | — | — | ||
| Q4 25 | $12.0B | $6.2B | ||
| Q3 25 | $11.9B | $6.2B | ||
| Q2 25 | $11.8B | $6.1B | ||
| Q1 25 | $11.8B | $5.2B | ||
| Q4 24 | $11.8B | $5.2B | ||
| Q3 24 | $11.8B | $5.2B | ||
| Q2 24 | $11.6B | $5.1B |
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 | — | $164.7M |
| 自由现金流经营现金流 - 资本支出 | — | $58.5M |
| 自由现金流率自由现金流/营收 | — | 7.9% |
| 资本支出强度资本支出/营收 | — | 14.4% |
| 现金转化率经营现金流/净利润 | — | 2.21× |
| 过去12个月自由现金流最近4个季度 | — | $232.4M |
8季度趋势，按日历期对齐
经营现金流MAARHP
| Q1 26 | — | — | ||
| Q4 25 | $261.7M | $164.7M | ||
| Q3 25 | $266.4M | $205.2M | ||
| Q2 25 | $353.4M | $122.5M | ||
| Q1 25 | $196.6M | $98.2M | ||
| Q4 24 | $239.1M | $166.6M | ||
| Q3 24 | $309.5M | $218.1M | ||
| Q2 24 | $349.4M | $184.3M |
自由现金流MAARHP
| Q1 26 | — | — | ||
| Q4 25 | $158.6M | $58.5M | ||
| Q3 25 | $170.8M | $135.4M | ||
| Q2 25 | $264.5M | $53.0M | ||
| Q1 25 | $124.0M | $-14.5M | ||
| Q4 24 | $152.6M | $76.0M | ||
| Q3 24 | $215.5M | $85.7M | ||
| Q2 24 | $259.7M | $78.8M |
自由现金流率MAARHP
| Q1 26 | — | — | ||
| Q4 25 | 28.5% | 7.9% | ||
| Q3 25 | 30.8% | 22.9% | ||
| Q2 25 | 48.1% | 8.0% | ||
| Q1 25 | 22.6% | -2.5% | ||
| Q4 24 | 27.8% | 11.7% | ||
| Q3 24 | 39.1% | 15.6% | ||
| Q2 24 | 47.5% | 12.9% |
资本支出强度MAARHP
| Q1 26 | — | — | ||
| Q4 25 | 18.6% | 14.4% | ||
| Q3 25 | 17.2% | 11.8% | ||
| Q2 25 | 16.2% | 10.5% | ||
| Q1 25 | 13.2% | 19.2% | ||
| Q4 24 | 15.7% | 14.0% | ||
| Q3 24 | 17.1% | 24.1% | ||
| Q2 24 | 16.4% | 17.2% |
现金转化率MAARHP
| Q1 26 | — | — | ||
| Q4 25 | 4.55× | 2.21× | ||
| Q3 25 | 2.68× | 5.88× | ||
| Q2 25 | 3.27× | 1.71× | ||
| Q1 25 | 1.08× | 1.56× | ||
| Q4 24 | 1.43× | 2.30× | ||
| Q3 24 | 2.69× | 3.70× | ||
| Q2 24 | 3.43× | 1.83× |
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
MAA
| Same Store Communities | $517.0M | 93% |
| Non-Same Store Communities | $22.1M | 4% |
| Lease-up/Development Communities | $7.7M | 1% |
| Commercial Property/Land | $7.0M | 1% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
