vs
Realty Income（O）与西湖化学（WLK）财务数据对比。点击上方公司名可切换其他公司
西湖化学的季度营收约是Realty Income的1.7倍（$2.5B vs $1.5B），Realty Income净利率更高（19.9% vs -21.5%，领先41.4%），Realty Income同比增速更快（11.0% vs -10.9%），Realty Income自由现金流更多（$1.2B vs $-16.0M），过去两年Realty Income的营收复合增速更高（8.6% vs -7.7%）
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。
西湖化学是国际知名的石化产品、聚合物及装配式建筑产品生产商与供应商，产品广泛应用于各类消费及工业市场。公司1986年由赵廷箴创立，是美国最大的低密度聚乙烯生产商，位列福布斯全球2000强，业务分为烯烃和乙烯基两大板块，具备乙烯基产品下游一体化生产能力。
O vs WLK — 直观对比
营收规模更大
WLK
是对方的1.7倍
$1.5B
营收增速更快
O
高出21.9%
-10.9%
净利率更高
O
高出41.4%
-21.5%
自由现金流更多
O
多$1.2B
$-16.0M
两年增速更快
O
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $2.5B |
| 净利润 | $296.1M | $-544.0M |
| 毛利率 | — | 3.4% |
| 营业利润率 | 21.7% | -26.5% |
| 净利率 | 19.9% | -21.5% |
| 营收同比 | 11.0% | -10.9% |
| 净利润同比 | 48.3% | -7871.4% |
| 每股收益（稀释后） | $0.32 | $-4.22 |
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OWLK
| Q4 25 | $1.5B | $2.5B | ||
| Q3 25 | $1.5B | $2.8B | ||
| Q2 25 | $1.4B | $3.0B | ||
| Q1 25 | $1.4B | $2.8B | ||
| Q4 24 | $1.3B | $2.8B | ||
| Q3 24 | $1.3B | $3.1B | ||
| Q2 24 | $1.3B | $3.2B | ||
| Q1 24 | $1.3B | $3.0B |
净利润OWLK
| Q4 25 | $296.1M | $-544.0M | ||
| Q3 25 | $315.8M | $-782.0M | ||
| Q2 25 | $196.9M | $-142.0M | ||
| Q1 25 | $249.8M | $-40.0M | ||
| Q4 24 | $199.6M | $7.0M | ||
| Q3 24 | $269.5M | $108.0M | ||
| Q2 24 | $259.4M | $313.0M | ||
| Q1 24 | $132.3M | $174.0M |
毛利率OWLK
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 8.3% | ||
| Q2 25 | — | 8.7% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | 11.5% | ||
| Q3 24 | — | 16.0% | ||
| Q2 24 | — | 20.7% | ||
| Q1 24 | — | 15.7% |
营业利润率OWLK
| Q4 25 | 21.7% | -26.5% | ||
| Q3 25 | 23.2% | -27.0% | ||
| Q2 25 | 15.8% | -3.7% | ||
| Q1 25 | 19.3% | -1.1% | ||
| Q4 24 | 16.5% | 2.3% | ||
| Q3 24 | 21.5% | 5.8% | ||
| Q2 24 | 20.7% | 12.7% | ||
| Q1 24 | 11.9% | 7.5% |
净利率OWLK
| Q4 25 | 19.9% | -21.5% | ||
| Q3 25 | 21.5% | -27.6% | ||
| Q2 25 | 14.0% | -4.8% | ||
| Q1 25 | 18.1% | -1.4% | ||
| Q4 24 | 14.9% | 0.2% | ||
| Q3 24 | 20.2% | 3.5% | ||
| Q2 24 | 19.4% | 9.8% | ||
| Q1 24 | 10.5% | 5.8% |
每股收益（稀释后）OWLK
| Q4 25 | $0.32 | $-4.22 | ||
| Q3 25 | $0.35 | $-6.06 | ||
| Q2 25 | $0.22 | $-1.11 | ||
| Q1 25 | $0.28 | $-0.31 | ||
| Q4 24 | $0.23 | $0.07 | ||
| Q3 24 | $0.30 | $0.83 | ||
| Q2 24 | $0.29 | $2.40 | ||
| Q1 24 | $0.16 | $1.34 |
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 | $2.7B |
| 总债务越低越好 | — | $5.6B |
| 股东权益账面价值 | $39.4B | $8.8B |
| 总资产 | $72.8B | $20.0B |
| 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OWLK
| Q4 25 | $434.8M | $2.7B | ||
| Q3 25 | $417.2M | $1.9B | ||
| Q2 25 | $800.4M | $2.1B | ||
| Q1 25 | $319.0M | $2.3B | ||
| Q4 24 | $445.0M | $2.9B | ||
| Q3 24 | $397.0M | $2.9B | ||
| Q2 24 | $442.8M | $3.0B | ||
| Q1 24 | $680.2M | $3.1B |
总债务OWLK
| Q4 25 | — | $5.6B | ||
| Q3 25 | — | $4.7B | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | — | $4.6B | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $4.9B | ||
| Q1 24 | — | $4.9B |
股东权益OWLK
| Q4 25 | $39.4B | $8.8B | ||
| Q3 25 | $39.1B | $9.4B | ||
| Q2 25 | $39.2B | $10.3B | ||
| Q1 25 | $39.0B | $10.4B | ||
| Q4 24 | $38.8B | $10.5B | ||
| Q3 24 | $38.5B | $10.7B | ||
| Q2 24 | $38.6B | $10.6B | ||
| Q1 24 | $39.0B | $10.3B |
总资产OWLK
| Q4 25 | $72.8B | $20.0B | ||
| Q3 25 | $71.3B | $19.8B | ||
| Q2 25 | $71.4B | $20.8B | ||
| Q1 25 | $69.8B | $20.7B | ||
| Q4 24 | $68.8B | $20.8B | ||
| Q3 24 | $68.5B | $21.1B | ||
| Q2 24 | $68.1B | $21.1B | ||
| Q1 24 | $68.3B | $21.0B |
负债/权益比OWLK
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 0.49× | ||
| Q2 25 | — | 0.45× | ||
| Q1 25 | — | 0.44× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.46× | ||
| Q1 24 | — | 0.47× |
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 | $225.0M |
| 自由现金流经营现金流 - 资本支出 | $1.2B | $-16.0M |
| 自由现金流率自由现金流/营收 | 77.6% | -0.6% |
| 资本支出强度资本支出/营收 | 3.3% | 9.5% |
| 现金转化率经营现金流/净利润 | 4.06× | — |
| 过去12个月自由现金流最近4个季度 | $3.9B | $-530.0M |
8季度趋势，按日历期对齐
经营现金流OWLK
| Q4 25 | $1.2B | $225.0M | ||
| Q3 25 | $943.1M | $182.0M | ||
| Q2 25 | $1.1B | $135.0M | ||
| Q1 25 | $787.5M | $-77.0M | ||
| Q4 24 | $972.0M | $434.0M | ||
| Q3 24 | $841.5M | $474.0M | ||
| Q2 24 | $981.2M | $237.0M | ||
| Q1 24 | $778.7M | $169.0M |
自由现金流OWLK
| Q4 25 | $1.2B | $-16.0M | ||
| Q3 25 | $909.9M | $-57.0M | ||
| Q2 25 | $1.0B | $-132.0M | ||
| Q1 25 | $764.6M | $-325.0M | ||
| Q4 24 | $935.8M | $149.0M | ||
| Q3 24 | $807.9M | $254.0M | ||
| Q2 24 | $939.2M | $6.0M | ||
| Q1 24 | $769.0M | $-103.0M |
自由现金流率OWLK
| Q4 25 | 77.6% | -0.6% | ||
| Q3 25 | 61.9% | -2.0% | ||
| Q2 25 | 73.3% | -4.5% | ||
| Q1 25 | 55.4% | -11.4% | ||
| Q4 24 | 69.8% | 5.2% | ||
| Q3 24 | 60.7% | 8.1% | ||
| Q2 24 | 70.1% | 0.2% | ||
| Q1 24 | 61.0% | -3.5% |
资本支出强度OWLK
| Q4 25 | 3.3% | 9.5% | ||
| Q3 25 | 2.3% | 8.4% | ||
| Q2 25 | 1.9% | 9.0% | ||
| Q1 25 | 1.7% | 8.7% | ||
| Q4 24 | 2.7% | 10.0% | ||
| Q3 24 | 2.5% | 7.1% | ||
| Q2 24 | 3.1% | 7.2% | ||
| Q1 24 | 0.8% | 9.1% |
现金转化率OWLK
| Q4 25 | 4.06× | — | ||
| Q3 25 | 2.99× | — | ||
| Q2 25 | 5.39× | — | ||
| Q1 25 | 3.15× | — | ||
| Q4 24 | 4.87× | 62.00× | ||
| Q3 24 | 3.12× | 4.39× | ||
| Q2 24 | 3.78× | 0.76× | ||
| Q1 24 | 5.89× | 0.97× |
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% |
WLK
| Performance Materials | $930.0M | 37% |
| Housing Products | $767.0M | 30% |
| Essential Materials | $702.0M | 28% |
| Infrastructure Products | $134.0M | 5% |
