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Public Storage（PSA）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
Public Storage的季度营收约是Ryman Hospitality Properties, Inc.的1.6倍（$1.2B vs $737.8M），Public Storage净利率更高（41.7% vs 10.1%，领先31.6%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs 3.3%），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 2.5%）
Public Storage总部位于美国加利福尼亚州格伦代尔，是主营自助仓储业务的房地产投资信托，也是美国最大的自助仓储服务品牌，持有美国约9%的自助仓储面积。截至2024年12月31日，公司运营3073处自助仓储设施，总可出租净面积达2.21亿平方英尺。
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。
PSA vs RHP — 直观对比
营收规模更大
PSA
是对方的1.6倍
$737.8M
营收增速更快
RHP
高出10.7%
3.3%
净利率更高
PSA
高出31.6%
10.1%
两年增速更快
RHP
近两年复合增速
2.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $737.8M |
| 净利润 | $507.1M | $74.5M |
| 毛利率 | — | 41.4% |
| 营业利润率 | 40.7% | 19.4% |
| 净利率 | 41.7% | 10.1% |
| 营收同比 | 3.3% | 13.9% |
| 净利润同比 | -17.5% | 3.0% |
| 每股收益（稀释后） | $2.59 | $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PSARHP
| Q4 25 | $1.2B | $737.8M | ||
| Q3 25 | $1.2B | $592.5M | ||
| Q2 25 | $1.2B | $659.5M | ||
| Q1 25 | $1.2B | $587.3M | ||
| Q4 24 | $1.2B | $647.6M | ||
| Q3 24 | $1.2B | $550.0M | ||
| Q2 24 | $1.2B | $613.3M | ||
| Q1 24 | $1.2B | $528.3M |
净利润PSARHP
| Q4 25 | $507.1M | $74.5M | ||
| Q3 25 | $511.1M | $34.9M | ||
| Q2 25 | $358.4M | $71.8M | ||
| Q1 25 | $407.8M | $63.0M | ||
| Q4 24 | $614.6M | $72.3M | ||
| Q3 24 | $430.3M | $59.0M | ||
| Q2 24 | $518.1M | $100.8M | ||
| Q1 24 | $508.9M | $42.8M |
毛利率PSARHP
| 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% | ||
| Q1 24 | — | 41.5% |
营业利润率PSARHP
| Q4 25 | 40.7% | 19.4% | ||
| Q3 25 | 42.3% | 15.0% | ||
| Q2 25 | 30.4% | 21.1% | ||
| Q1 25 | 34.8% | 19.8% | ||
| Q4 24 | 52.4% | 18.6% | ||
| Q3 24 | 36.7% | 19.3% | ||
| Q2 24 | 44.6% | 27.4% | ||
| Q1 24 | 44.3% | 18.2% |
净利率PSARHP
| Q4 25 | 41.7% | 10.1% | ||
| Q3 25 | 41.8% | 5.9% | ||
| Q2 25 | 29.8% | 10.9% | ||
| Q1 25 | 34.5% | 10.7% | ||
| Q4 24 | 52.2% | 11.2% | ||
| Q3 24 | 36.2% | 10.7% | ||
| Q2 24 | 44.2% | 16.4% | ||
| Q1 24 | 44.0% | 8.1% |
每股收益（稀释后）PSARHP
| Q4 25 | $2.59 | $1.12 | ||
| Q3 25 | $2.62 | $0.53 | ||
| Q2 25 | $1.76 | $1.12 | ||
| Q1 25 | $2.04 | $1.00 | ||
| Q4 24 | $3.22 | $1.12 | ||
| Q3 24 | $2.16 | $0.94 | ||
| Q2 24 | $2.66 | $1.65 | ||
| Q1 24 | $2.60 | $0.67 |
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 | $318.1M | $471.4M |
| 总债务越低越好 | $10.3B | — |
| 股东权益账面价值 | $9.2B | $750.2M |
| 总资产 | $20.2B | $6.2B |
| 负债/权益比越低杠杆越低 | 1.11× | — |
8季度趋势，按日历期对齐
现金及短期投资PSARHP
| Q4 25 | $318.1M | $471.4M | ||
| Q3 25 | $296.5M | $483.3M | ||
| Q2 25 | $1.1B | $420.6M | ||
| Q1 25 | $287.2M | $413.9M | ||
| Q4 24 | $447.4M | $477.7M | ||
| Q3 24 | $599.0M | $534.9M | ||
| Q2 24 | $542.3M | $498.4M | ||
| Q1 24 | $271.6M | $465.3M |
总债务PSARHP
| Q4 25 | $10.3B | — | ||
| Q3 25 | $10.0B | — | ||
| Q2 25 | $10.4B | — | ||
| Q1 25 | $9.4B | — | ||
| Q4 24 | $9.4B | — | ||
| Q3 24 | $9.5B | — | ||
| Q2 24 | $9.4B | — | ||
| Q1 24 | $9.1B | — |
股东权益PSARHP
| Q4 25 | $9.2B | $750.2M | ||
| Q3 25 | $9.3B | $758.5M | ||
| Q2 25 | $9.4B | $800.4M | ||
| Q1 25 | $9.6B | $531.5M | ||
| Q4 24 | $9.7B | $549.0M | ||
| Q3 24 | $9.6B | $551.9M | ||
| Q2 24 | $9.7B | $562.6M | ||
| Q1 24 | $9.9B | $529.9M |
总资产PSARHP
| Q4 25 | $20.2B | $6.2B | ||
| Q3 25 | $20.1B | $6.2B | ||
| Q2 25 | $20.5B | $6.1B | ||
| Q1 25 | $19.6B | $5.2B | ||
| Q4 24 | $19.8B | $5.2B | ||
| Q3 24 | $19.8B | $5.2B | ||
| Q2 24 | $19.8B | $5.1B | ||
| Q1 24 | $19.6B | $5.1B |
负债/权益比PSARHP
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.08× | — | ||
| Q2 25 | 1.11× | — | ||
| Q1 25 | 0.99× | — | ||
| Q4 24 | 0.96× | — | ||
| Q3 24 | 0.99× | — | ||
| Q2 24 | 0.97× | — | ||
| Q1 24 | 0.91× | — |
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 | $733.6M | $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 | 1.45× | 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PSARHP
| Q4 25 | $733.6M | $164.7M | ||
| Q3 25 | $875.1M | $205.2M | ||
| Q2 25 | $872.7M | $122.5M | ||
| Q1 25 | $705.1M | $98.2M | ||
| Q4 24 | $768.6M | $166.6M | ||
| Q3 24 | $798.8M | $218.1M | ||
| Q2 24 | $895.3M | $184.3M | ||
| Q1 24 | $665.6M | $7.5M |
自由现金流PSARHP
| Q4 25 | — | $58.5M | ||
| Q3 25 | — | $135.4M | ||
| Q2 25 | — | $53.0M | ||
| Q1 25 | — | $-14.5M | ||
| Q4 24 | — | $76.0M | ||
| Q3 24 | — | $85.7M | ||
| Q2 24 | — | $78.8M | ||
| Q1 24 | — | $-72.0M |
自由现金流率PSARHP
| Q4 25 | — | 7.9% | ||
| Q3 25 | — | 22.9% | ||
| Q2 25 | — | 8.0% | ||
| Q1 25 | — | -2.5% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 12.9% | ||
| Q1 24 | — | -13.6% |
资本支出强度PSARHP
| Q4 25 | — | 14.4% | ||
| Q3 25 | — | 11.8% | ||
| Q2 25 | — | 10.5% | ||
| Q1 25 | — | 19.2% | ||
| Q4 24 | — | 14.0% | ||
| Q3 24 | — | 24.1% | ||
| Q2 24 | — | 17.2% | ||
| Q1 24 | — | 15.0% |
现金转化率PSARHP
| Q4 25 | 1.45× | 2.21× | ||
| Q3 25 | 1.71× | 5.88× | ||
| Q2 25 | 2.43× | 1.71× | ||
| Q1 25 | 1.73× | 1.56× | ||
| Q4 24 | 1.25× | 2.30× | ||
| Q3 24 | 1.86× | 3.70× | ||
| Q2 24 | 1.73× | 1.83× | ||
| Q1 24 | 1.31× | 0.17× |
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
PSA
| Self Storage Operations | $1.1B | 93% |
| Ancillary Operations | $86.9M | 7% |
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% |
