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MACERICH CO（MAC）与Piedmont Realty Trust, Inc.（PDM）财务数据对比。点击上方公司名可切换其他公司
MACERICH CO的季度营收约是Piedmont Realty Trust, Inc.的1.8倍（$261.7M vs $143.3M），MACERICH CO净利率更高（-7.2% vs -31.4%，领先24.2%），Piedmont Realty Trust, Inc.同比增速更快（0.4% vs -4.4%），过去两年MACERICH CO的营收复合增速更高（12.0% vs 0.0%）
Macerich是一家专注于购物中心投资的房地产投资信托基金，为美国第三大购物中心持有及运营商。截至2024年12月31日，公司共持有43处物业的权益，可租赁总面积达4300万平方英尺，公司名称由创始人Mace Siegel与Richard Cohen的名字组合而来。
Piedmont Realty Trust是一家公开上市的房地产投资信托（REIT），主要持有、运营和投资美国高增长大都会区的优质写字楼资产，服务科技、专业服务、医疗等多个行业的企业租户，通过战略资产管理和投资组合优化为利益相关方提供稳定长期回报。
MAC vs PDM — 直观对比
营收规模更大
MAC
是对方的1.8倍
$143.3M
营收增速更快
PDM
高出4.8%
-4.4%
净利率更高
MAC
高出24.2%
-31.4%
两年增速更快
MAC
近两年复合增速
0.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $261.7M | $143.3M |
| 净利润 | $-18.8M | $-45.0M |
| 毛利率 | — | — |
| 营业利润率 | — | — |
| 净利率 | -7.2% | -31.4% |
| 营收同比 | -4.4% | 0.4% |
| 净利润同比 | 91.1% | -27.9% |
| 每股收益（稀释后） | $-0.08 | $-0.10 |
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MACPDM
| Q1 26 | — | $143.3M | ||
| Q4 25 | $261.7M | $142.9M | ||
| Q3 25 | $253.3M | $139.2M | ||
| Q2 25 | $249.8M | $140.3M | ||
| Q1 25 | $249.2M | $142.7M | ||
| Q4 24 | $273.7M | $143.2M | ||
| Q3 24 | $220.2M | $139.3M | ||
| Q2 24 | $215.5M | $143.3M |
净利润MACPDM
| Q1 26 | — | $-45.0M | ||
| Q4 25 | $-18.8M | $-43.2M | ||
| Q3 25 | $-87.4M | $-13.5M | ||
| Q2 25 | $-40.9M | $-16.8M | ||
| Q1 25 | $-50.1M | $-10.1M | ||
| Q4 24 | $-211.2M | $-30.0M | ||
| Q3 24 | $-108.2M | $-11.5M | ||
| Q2 24 | $252.0M | $-9.8M |
净利率MACPDM
| Q1 26 | — | -31.4% | ||
| Q4 25 | -7.2% | -30.3% | ||
| Q3 25 | -34.5% | -9.7% | ||
| Q2 25 | -16.4% | -12.0% | ||
| Q1 25 | -20.1% | -7.1% | ||
| Q4 24 | -77.2% | -20.9% | ||
| Q3 24 | -49.1% | -8.3% | ||
| Q2 24 | 116.9% | -6.8% |
每股收益（稀释后）MACPDM
| Q1 26 | — | $-0.10 | ||
| Q4 25 | $-0.08 | $-0.34 | ||
| Q3 25 | $-0.34 | $-0.11 | ||
| Q2 25 | $-0.16 | $-0.14 | ||
| Q1 25 | $-0.20 | $-0.08 | ||
| Q4 24 | $-0.95 | $-0.25 | ||
| Q3 24 | $-0.50 | $-0.09 | ||
| Q2 24 | $1.16 | $-0.08 |
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 | $280.2M | $2.3M |
| 总债务越低越好 | $5.1B | — |
| 股东权益账面价值 | $2.4B | $1.5B |
| 总资产 | $8.4B | $4.0B |
| 负债/权益比越低杠杆越低 | 2.07× | — |
8季度趋势，按日历期对齐
现金及短期投资MACPDM
| Q1 26 | — | $2.3M | ||
| Q4 25 | $280.2M | $731.0K | ||
| Q3 25 | $290.2M | $3.0M | ||
| Q2 25 | $131.1M | $3.3M | ||
| Q1 25 | $253.2M | $2.9M | ||
| Q4 24 | $89.9M | $109.6M | ||
| Q3 24 | $116.5M | $133.6M | ||
| Q2 24 | $70.7M | $138.5M |
总债务MACPDM
| Q1 26 | — | — | ||
| Q4 25 | $5.1B | $2.2B | ||
| Q3 25 | $5.1B | $2.2B | ||
| Q2 25 | $5.2B | $2.2B | ||
| Q1 25 | $5.2B | $2.2B | ||
| Q4 24 | $4.9B | $2.2B | ||
| Q3 24 | $4.3B | $2.2B | ||
| Q2 24 | $4.4B | $2.2B |
股东权益MACPDM
| Q1 26 | — | $1.5B | ||
| Q4 25 | $2.4B | $1.5B | ||
| Q3 25 | $2.5B | $1.5B | ||
| Q2 25 | $2.6B | $1.5B | ||
| Q1 25 | $2.7B | $1.6B | ||
| Q4 24 | $2.8B | $1.6B | ||
| Q3 24 | $2.5B | $1.6B | ||
| Q2 24 | $2.5B | $1.7B |
总资产MACPDM
| Q1 26 | — | $4.0B | ||
| Q4 25 | $8.4B | $4.0B | ||
| Q3 25 | $8.4B | $4.0B | ||
| Q2 25 | $8.7B | $4.0B | ||
| Q1 25 | $8.7B | $4.0B | ||
| Q4 24 | $8.6B | $4.1B | ||
| Q3 24 | $7.6B | $4.1B | ||
| Q2 24 | $7.8B | $4.2B |
负债/权益比MACPDM
| Q1 26 | — | — | ||
| Q4 25 | 2.07× | 1.49× | ||
| Q3 25 | 2.02× | 1.43× | ||
| Q2 25 | 2.02× | 1.41× | ||
| Q1 25 | 1.96× | 1.40× | ||
| Q4 24 | 1.78× | 1.40× | ||
| Q3 24 | 1.73× | 1.36× | ||
| Q2 24 | 1.75× | 1.34× |
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 | $50.2M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | 110.3% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流MACPDM
| Q1 26 | — | — | ||
| Q4 25 | $50.2M | $140.6M | ||
| Q3 25 | $112.4M | $35.8M | ||
| Q2 25 | $70.5M | $50.1M | ||
| Q1 25 | $88.5M | $3.7M | ||
| Q4 24 | $54.9M | $198.1M | ||
| Q3 24 | $100.0M | $42.9M | ||
| Q2 24 | $67.4M | $66.8M |
资本支出强度MACPDM
| Q1 26 | — | 110.3% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率MACPDM
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.27× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
