vs
Realty Income（O）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
Realty Income的季度营收约是越洋钻探的1.4倍（$1.5B vs $1.0B），Realty Income净利率更高（19.9% vs 2.4%，领先17.5%），Realty Income同比增速更快（11.0% vs 9.6%），Realty Income自由现金流更多（$1.2B vs $321.0M），过去两年越洋钻探的营收复合增速更高（16.9% vs 8.6%）
Realty Income是一家房地产投资信托企业，投资范围覆盖美国、英国及欧洲其他六个国家的独立单租户商业地产，旗下物业普遍采用三重净租约模式。公司注册地为美国马里兰州，总部位于加利福尼亚州圣迭戈市。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
O vs RIG — 直观对比
营收规模更大
O
是对方的1.4倍
$1.0B
营收增速更快
O
高出1.5%
9.6%
净利率更高
O
高出17.5%
2.4%
自由现金流更多
O
多$833.0M
$321.0M
两年增速更快
RIG
近两年复合增速
8.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.0B |
| 净利润 | $296.1M | $25.0M |
| 毛利率 | — | 42.0% |
| 营业利润率 | 21.7% | 23.0% |
| 净利率 | 19.9% | 2.4% |
| 营收同比 | 11.0% | 9.6% |
| 净利润同比 | 48.3% | 257.1% |
| 每股收益（稀释后） | $0.32 | $0.13 |
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ORIG
| Q4 25 | $1.5B | $1.0B | ||
| Q3 25 | $1.5B | $1.0B | ||
| Q2 25 | $1.4B | $988.0M | ||
| Q1 25 | $1.4B | $906.0M | ||
| Q4 24 | $1.3B | $952.0M | ||
| Q3 24 | $1.3B | $948.0M | ||
| Q2 24 | $1.3B | $861.0M | ||
| Q1 24 | $1.3B | $763.0M |
净利润ORIG
| Q4 25 | $296.1M | $25.0M | ||
| Q3 25 | $315.8M | $-1.9B | ||
| Q2 25 | $196.9M | $-938.0M | ||
| Q1 25 | $249.8M | $-79.0M | ||
| Q4 24 | $199.6M | $7.0M | ||
| Q3 24 | $269.5M | $-494.0M | ||
| Q2 24 | $259.4M | $-123.0M | ||
| Q1 24 | $132.3M | $98.0M |
毛利率ORIG
| Q4 25 | — | 42.0% | ||
| Q3 25 | — | 43.2% | ||
| Q2 25 | — | 39.4% | ||
| Q1 25 | — | 31.8% | ||
| Q4 24 | — | 39.2% | ||
| Q3 24 | — | 40.6% | ||
| Q2 24 | — | 38.0% | ||
| Q1 24 | — | 31.5% |
营业利润率ORIG
| Q4 25 | 21.7% | 23.0% | ||
| Q3 25 | 23.2% | -163.1% | ||
| Q2 25 | 15.8% | -97.6% | ||
| Q1 25 | 19.3% | 7.1% | ||
| Q4 24 | 16.5% | 13.7% | ||
| Q3 24 | 21.5% | -51.2% | ||
| Q2 24 | 20.7% | -6.9% | ||
| Q1 24 | 11.9% | -0.4% |
净利率ORIG
| Q4 25 | 19.9% | 2.4% | ||
| Q3 25 | 21.5% | -187.1% | ||
| Q2 25 | 14.0% | -94.9% | ||
| Q1 25 | 18.1% | -8.7% | ||
| Q4 24 | 14.9% | 0.7% | ||
| Q3 24 | 20.2% | -52.1% | ||
| Q2 24 | 19.4% | -14.3% | ||
| Q1 24 | 10.5% | 12.8% |
每股收益（稀释后）ORIG
| Q4 25 | $0.32 | $0.13 | ||
| Q3 25 | $0.35 | $-2.00 | ||
| Q2 25 | $0.22 | $-1.06 | ||
| Q1 25 | $0.28 | $-0.11 | ||
| Q4 24 | $0.23 | $-0.14 | ||
| Q3 24 | $0.30 | $-0.58 | ||
| Q2 24 | $0.29 | $-0.15 | ||
| Q1 24 | $0.16 | $0.11 |
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 | $434.8M | $620.0M |
| 总债务越低越好 | — | $5.2B |
| 股东权益账面价值 | $39.4B | $8.1B |
| 总资产 | $72.8B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资ORIG
| Q4 25 | $434.8M | $620.0M | ||
| Q3 25 | $417.2M | $833.0M | ||
| Q2 25 | $800.4M | $377.0M | ||
| Q1 25 | $319.0M | $263.0M | ||
| Q4 24 | $445.0M | $560.0M | ||
| Q3 24 | $397.0M | $435.0M | ||
| Q2 24 | $442.8M | $475.0M | ||
| Q1 24 | $680.2M | $446.0M |
总债务ORIG
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $5.9B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | — | $6.2B | ||
| Q3 24 | — | $6.5B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.8B |
股东权益ORIG
| Q4 25 | $39.4B | $8.1B | ||
| Q3 25 | $39.1B | $8.1B | ||
| Q2 25 | $39.2B | $9.4B | ||
| Q1 25 | $39.0B | $10.2B | ||
| Q4 24 | $38.8B | $10.3B | ||
| Q3 24 | $38.5B | $10.2B | ||
| Q2 24 | $38.6B | $10.7B | ||
| Q1 24 | $39.0B | $10.5B |
总资产ORIG
| Q4 25 | $72.8B | $15.6B | ||
| Q3 25 | $71.3B | $16.2B | ||
| Q2 25 | $71.4B | $17.8B | ||
| Q1 25 | $69.8B | $19.0B | ||
| Q4 24 | $68.8B | $19.4B | ||
| Q3 24 | $68.5B | $19.5B | ||
| Q2 24 | $68.1B | $20.3B | ||
| Q1 24 | $68.3B | $19.9B |
负债/权益比ORIG
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | 0.65× |
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 | $1.2B | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $1.2B | $321.0M |
| 自由现金流率自由现金流/营收 | 77.6% | 30.8% |
| 资本支出强度资本支出/营收 | 3.3% | 2.7% |
| 现金转化率经营现金流/净利润 | 4.06× | 13.96× |
| 过去12个月自由现金流最近4个季度 | $3.9B | $626.0M |
8季度趋势，按日历期对齐
经营现金流ORIG
| Q4 25 | $1.2B | $349.0M | ||
| Q3 25 | $943.1M | $246.0M | ||
| Q2 25 | $1.1B | $128.0M | ||
| Q1 25 | $787.5M | $26.0M | ||
| Q4 24 | $972.0M | $206.0M | ||
| Q3 24 | $841.5M | $194.0M | ||
| Q2 24 | $981.2M | $133.0M | ||
| Q1 24 | $778.7M | $-86.0M |
自由现金流ORIG
| Q4 25 | $1.2B | $321.0M | ||
| Q3 25 | $909.9M | $235.0M | ||
| Q2 25 | $1.0B | $104.0M | ||
| Q1 25 | $764.6M | $-34.0M | ||
| Q4 24 | $935.8M | $177.0M | ||
| Q3 24 | $807.9M | $136.0M | ||
| Q2 24 | $939.2M | $49.0M | ||
| Q1 24 | $769.0M | $-169.0M |
自由现金流率ORIG
| Q4 25 | 77.6% | 30.8% | ||
| Q3 25 | 61.9% | 22.9% | ||
| Q2 25 | 73.3% | 10.5% | ||
| Q1 25 | 55.4% | -3.8% | ||
| Q4 24 | 69.8% | 18.6% | ||
| Q3 24 | 60.7% | 14.3% | ||
| Q2 24 | 70.1% | 5.7% | ||
| Q1 24 | 61.0% | -22.1% |
资本支出强度ORIG
| Q4 25 | 3.3% | 2.7% | ||
| Q3 25 | 2.3% | 1.1% | ||
| Q2 25 | 1.9% | 2.4% | ||
| Q1 25 | 1.7% | 6.6% | ||
| Q4 24 | 2.7% | 3.0% | ||
| Q3 24 | 2.5% | 6.1% | ||
| Q2 24 | 3.1% | 9.8% | ||
| Q1 24 | 0.8% | 10.9% |
现金转化率ORIG
| Q4 25 | 4.06× | 13.96× | ||
| Q3 25 | 2.99× | — | ||
| Q2 25 | 5.39× | — | ||
| Q1 25 | 3.15× | — | ||
| Q4 24 | 4.87× | 29.43× | ||
| Q3 24 | 3.12× | — | ||
| Q2 24 | 3.78× | — | ||
| Q1 24 | 5.89× | -0.88× |
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
O
| Product And Service Retail | $900.8M | 61% |
| Other | $531.5M | 36% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
