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MEDICAL PROPERTIES TRUST INC（MPW）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
世纪互联的季度营收约是MEDICAL PROPERTIES TRUST INC的1.3倍（$362.7M vs $270.3M），MEDICAL PROPERTIES TRUST INC净利率更高（6.5% vs -10.7%，领先17.2%），过去两年世纪互联的营收复合增速更高（17.4% vs -0.2%）
Medical Properties Trust, Inc.（MPT）是一家总部位于美国阿拉巴马州伯明翰的跨国房地产投资信托基金（REIT），主要在美欧地区收购、投资医疗保健设施与营利性医疗控股公司，资产收购多采用售后回租模式，原业主出售资产后成为其租户，租户通常需签署长期三净租赁协议。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
MPW vs VNET — 直观对比
营收规模更大
VNET
是对方的1.3倍
$270.3M
净利率更高
MPW
高出17.2%
-10.7%
两年增速更快
VNET
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $270.3M | $362.7M |
| 净利润 | $17.6M | $-38.7M |
| 毛利率 | 95.8% | 20.9% |
| 营业利润率 | 9.7% | 0.5% |
| 净利率 | 6.5% | -10.7% |
| 营收同比 | 16.6% | — |
| 净利润同比 | 104.3% | — |
| 每股收益（稀释后） | $0.03 | — |
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MPWVNET
| Q4 25 | $270.3M | — | ||
| Q3 25 | $237.5M | $362.7M | ||
| Q2 25 | $240.4M | — | ||
| Q1 25 | $223.8M | $309.5M | ||
| Q4 24 | $231.8M | — | ||
| Q3 24 | $225.8M | $302.2M | ||
| Q2 24 | $266.6M | $274.4M | ||
| Q1 24 | $271.3M | $262.9M |
净利润MPWVNET
| Q4 25 | $17.6M | — | ||
| Q3 25 | $-77.7M | $-38.7M | ||
| Q2 25 | $-98.4M | — | ||
| Q1 25 | $-118.3M | $-2.4M | ||
| Q4 24 | $-412.3M | — | ||
| Q3 24 | $-801.2M | $-2.1M | ||
| Q2 24 | $-320.6M | $-1.1M | ||
| Q1 24 | $-875.6M | $-22.0M |
毛利率MPWVNET
| Q4 25 | 95.8% | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | 91.8% | — | ||
| Q1 25 | 63.6% | 25.2% | ||
| Q4 24 | 90.9% | — | ||
| Q3 24 | 96.5% | 23.2% | ||
| Q2 24 | 98.4% | 21.3% | ||
| Q1 24 | 84.9% | 21.6% |
营业利润率MPWVNET
| Q4 25 | 9.7% | — | ||
| Q3 25 | -28.0% | 0.5% | ||
| Q2 25 | -36.7% | — | ||
| Q1 25 | -48.5% | 0.1% | ||
| Q4 24 | -173.7% | — | ||
| Q3 24 | -350.7% | 24.5% | ||
| Q2 24 | -114.5% | 0.2% | ||
| Q1 24 | -318.6% | 0.2% |
净利率MPWVNET
| Q4 25 | 6.5% | — | ||
| Q3 25 | -32.7% | -10.7% | ||
| Q2 25 | -40.9% | — | ||
| Q1 25 | -52.8% | -0.8% | ||
| Q4 24 | -177.8% | — | ||
| Q3 24 | -354.8% | -0.7% | ||
| Q2 24 | -120.3% | -0.4% | ||
| Q1 24 | -322.7% | -8.4% |
每股收益（稀释后）MPWVNET
| Q4 25 | $0.03 | — | ||
| Q3 25 | $-0.13 | — | ||
| Q2 25 | $-0.16 | — | ||
| Q1 25 | $-0.20 | — | ||
| Q4 24 | $-0.68 | — | ||
| Q3 24 | $-1.34 | — | ||
| Q2 24 | $-0.54 | — | ||
| Q1 24 | $-1.46 | — |
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 | $540.9M | $492.1M |
| 总债务越低越好 | $9.7B | — |
| 股东权益账面价值 | $4.6B | $890.8M |
| 总资产 | $15.0B | $6.1B |
| 负债/权益比越低杠杆越低 | 2.11× | — |
8季度趋势，按日历期对齐
现金及短期投资MPWVNET
| Q4 25 | $540.9M | — | ||
| Q3 25 | $396.6M | $492.1M | ||
| Q2 25 | $509.8M | — | ||
| Q1 25 | $673.5M | $544.3M | ||
| Q4 24 | $332.3M | — | ||
| Q3 24 | $275.6M | $219.5M | ||
| Q2 24 | $606.5M | $247.2M | ||
| Q1 24 | $224.3M | $246.9M |
总债务MPWVNET
| Q4 25 | $9.7B | — | ||
| Q3 25 | $9.6B | — | ||
| Q2 25 | $9.6B | — | ||
| Q1 25 | $9.5B | — | ||
| Q4 24 | $8.8B | — | ||
| Q3 24 | $9.2B | $1.2B | ||
| Q2 24 | $9.4B | — | ||
| Q1 24 | $10.1B | — |
股东权益MPWVNET
| Q4 25 | $4.6B | — | ||
| Q3 25 | $4.7B | $890.8M | ||
| Q2 25 | $4.8B | — | ||
| Q1 25 | $4.8B | $927.8M | ||
| Q4 24 | $4.8B | — | ||
| Q3 24 | $5.4B | $902.9M | ||
| Q2 24 | $6.2B | $900.6M | ||
| Q1 24 | $6.7B | $895.1M |
总资产MPWVNET
| Q4 25 | $15.0B | — | ||
| Q3 25 | $14.9B | $6.1B | ||
| Q2 25 | $15.2B | — | ||
| Q1 25 | $14.9B | $5.4B | ||
| Q4 24 | $14.3B | — | ||
| Q3 24 | $15.2B | $4.3B | ||
| Q2 24 | $16.2B | $4.0B | ||
| Q1 24 | $17.3B | $3.9B |
负债/权益比MPWVNET
| Q4 25 | 2.11× | — | ||
| Q3 25 | 2.06× | — | ||
| Q2 25 | 2.00× | — | ||
| Q1 25 | 1.99× | — | ||
| Q4 24 | 1.83× | — | ||
| Q3 24 | 1.69× | 1.28× | ||
| Q2 24 | 1.51× | — | ||
| Q1 24 | 1.51× | — |
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 | $230.8M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-193.1M |
| 自由现金流率自由现金流/营收 | — | -53.2% |
| 资本支出强度资本支出/营收 | — | 84.6% |
| 现金转化率经营现金流/净利润 | 13.11× | — |
| 过去12个月自由现金流最近4个季度 | — | $-589.7M |
8季度趋势，按日历期对齐
经营现金流MPWVNET
| Q4 25 | $230.8M | — | ||
| Q3 25 | $18.6M | $113.8M | ||
| Q2 25 | $51.7M | — | ||
| Q1 25 | $384.0K | $27.0M | ||
| Q4 24 | $245.5M | — | ||
| Q3 24 | $59.2M | $108.3M | ||
| Q2 24 | $35.3M | $55.8M | ||
| Q1 24 | $74.3M | $37.1M |
自由现金流MPWVNET
| Q4 25 | — | — | ||
| Q3 25 | — | $-193.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-220.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-95.0M | ||
| Q2 24 | — | $-81.6M | ||
| Q1 24 | — | $-102.2M |
自由现金流率MPWVNET
| Q4 25 | — | — | ||
| Q3 25 | — | -53.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -71.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -31.4% | ||
| Q2 24 | — | -29.8% | ||
| Q1 24 | — | -38.9% |
资本支出强度MPWVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 84.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 79.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 67.3% | ||
| Q2 24 | — | 50.1% | ||
| Q1 24 | — | 53.0% |
现金转化率MPWVNET
| Q4 25 | 13.11× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
