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Public Storage（PSA）与惠好（WY）财务数据对比。点击上方公司名可切换其他公司
惠好的季度营收约是Public Storage的1.3倍（$1.5B vs $1.2B），Public Storage净利率更高（41.7% vs 4.8%，领先36.9%），Public Storage同比增速更快（3.3% vs -9.8%），过去两年Public Storage的营收复合增速更高（2.5% vs -7.4%）
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。
惠好是美国知名林地运营企业，在美国本土持有约1040万英亩林地，同时通过长期许可协议在加拿大管理额外1400万英亩林地。企业拥有逾百年木制品生产历史，目前以房地产投资信托（REIT）模式运营。
PSA vs WY — 直观对比
营收规模更大
WY
是对方的1.3倍
$1.2B
营收增速更快
PSA
高出13.0%
-9.8%
净利率更高
PSA
高出36.9%
4.8%
两年增速更快
PSA
近两年复合增速
-7.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.5B |
| 净利润 | $507.1M | $74.0M |
| 毛利率 | — | 10.4% |
| 营业利润率 | 40.7% | 16.3% |
| 净利率 | 41.7% | 4.8% |
| 营收同比 | 3.3% | -9.8% |
| 净利润同比 | -17.5% | -8.6% |
| 每股收益（稀释后） | $2.59 | $0.11 |
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PSAWY
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.2B | $1.7B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.2B | $1.8B | ||
| Q4 24 | $1.2B | $1.7B | ||
| Q3 24 | $1.2B | $1.7B | ||
| Q2 24 | $1.2B | $1.9B | ||
| Q1 24 | $1.2B | $1.8B |
净利润PSAWY
| Q4 25 | $507.1M | $74.0M | ||
| Q3 25 | $511.1M | $80.0M | ||
| Q2 25 | $358.4M | $87.0M | ||
| Q1 25 | $407.8M | $83.0M | ||
| Q4 24 | $614.6M | $81.0M | ||
| Q3 24 | $430.3M | $28.0M | ||
| Q2 24 | $518.1M | $173.0M | ||
| Q1 24 | $508.9M | $114.0M |
毛利率PSAWY
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | 11.9% | ||
| Q2 25 | — | 17.3% | ||
| Q1 25 | — | 19.0% | ||
| Q4 24 | — | 17.8% | ||
| Q3 24 | — | 14.9% | ||
| Q2 24 | — | 20.8% | ||
| Q1 24 | — | 19.8% |
营业利润率PSAWY
| Q4 25 | 40.7% | 16.3% | ||
| Q3 25 | 42.3% | 7.2% | ||
| Q2 25 | 30.4% | 9.4% | ||
| Q1 25 | 34.8% | 10.2% | ||
| Q4 24 | 52.4% | 8.3% | ||
| Q3 24 | 36.7% | 4.6% | ||
| Q2 24 | 44.6% | 13.9% | ||
| Q1 24 | 44.3% | 10.9% |
净利率PSAWY
| Q4 25 | 41.7% | 4.8% | ||
| Q3 25 | 41.8% | 4.7% | ||
| Q2 25 | 29.8% | 4.6% | ||
| Q1 25 | 34.5% | 4.7% | ||
| Q4 24 | 52.2% | 4.7% | ||
| Q3 24 | 36.2% | 1.7% | ||
| Q2 24 | 44.2% | 8.9% | ||
| Q1 24 | 44.0% | 6.3% |
每股收益（稀释后）PSAWY
| Q4 25 | $2.59 | $0.11 | ||
| Q3 25 | $2.62 | $0.11 | ||
| Q2 25 | $1.76 | $0.12 | ||
| Q1 25 | $2.04 | $0.11 | ||
| Q4 24 | $3.22 | $0.10 | ||
| Q3 24 | $2.16 | $0.04 | ||
| Q2 24 | $2.66 | $0.24 | ||
| Q1 24 | $2.60 | $0.16 |
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 | $464.0M |
| 总债务越低越好 | $10.3B | $5.6B |
| 股东权益账面价值 | $9.2B | $9.4B |
| 总资产 | $20.2B | $16.6B |
| 负债/权益比越低杠杆越低 | 1.11× | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资PSAWY
| Q4 25 | $318.1M | $464.0M | ||
| Q3 25 | $296.5M | $401.0M | ||
| Q2 25 | $1.1B | $592.0M | ||
| Q1 25 | $287.2M | $560.0M | ||
| Q4 24 | $447.4M | $684.0M | ||
| Q3 24 | $599.0M | $877.0M | ||
| Q2 24 | $542.3M | $997.0M | ||
| Q1 24 | $271.6M | $871.0M |
总债务PSAWY
| Q4 25 | $10.3B | $5.6B | ||
| Q3 25 | $10.0B | — | ||
| Q2 25 | $10.4B | — | ||
| Q1 25 | $9.4B | — | ||
| Q4 24 | $9.4B | $5.1B | ||
| Q3 24 | $9.5B | — | ||
| Q2 24 | $9.4B | — | ||
| Q1 24 | $9.1B | — |
股东权益PSAWY
| Q4 25 | $9.2B | $9.4B | ||
| Q3 25 | $9.3B | $9.4B | ||
| Q2 25 | $9.4B | $9.5B | ||
| Q1 25 | $9.6B | $9.6B | ||
| Q4 24 | $9.7B | $9.7B | ||
| Q3 24 | $9.6B | $9.9B | ||
| Q2 24 | $9.7B | $10.0B | ||
| Q1 24 | $9.9B | $10.1B |
总资产PSAWY
| Q4 25 | $20.2B | $16.6B | ||
| Q3 25 | $20.1B | $16.7B | ||
| Q2 25 | $20.5B | $16.5B | ||
| Q1 25 | $19.6B | $16.5B | ||
| Q4 24 | $19.8B | $16.5B | ||
| Q3 24 | $19.8B | $16.7B | ||
| Q2 24 | $19.8B | $16.8B | ||
| Q1 24 | $19.6B | $16.8B |
负债/权益比PSAWY
| Q4 25 | 1.11× | 0.59× | ||
| Q3 25 | 1.08× | — | ||
| Q2 25 | 1.11× | — | ||
| Q1 25 | 0.99× | — | ||
| Q4 24 | 0.96× | 0.52× | ||
| 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 | $-114.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-128.0M |
| 自由现金流率自由现金流/营收 | — | -8.3% |
| 资本支出强度资本支出/营收 | — | 0.9% |
| 现金转化率经营现金流/净利润 | 1.45× | -1.54× |
| 过去12个月自由现金流最近4个季度 | — | $511.0M |
8季度趋势，按日历期对齐
经营现金流PSAWY
| Q4 25 | $733.6M | $-114.0M | ||
| Q3 25 | $875.1M | $210.0M | ||
| Q2 25 | $872.7M | $396.0M | ||
| Q1 25 | $705.1M | $70.0M | ||
| Q4 24 | $768.6M | $218.0M | ||
| Q3 24 | $798.8M | $234.0M | ||
| Q2 24 | $895.3M | $432.0M | ||
| Q1 24 | $665.6M | $124.0M |
自由现金流PSAWY
| Q4 25 | — | $-128.0M | ||
| Q3 25 | — | $203.0M | ||
| Q2 25 | — | $388.0M | ||
| Q1 25 | — | $48.0M | ||
| Q4 24 | — | $205.0M | ||
| Q3 24 | — | $226.0M | ||
| Q2 24 | — | $423.0M | ||
| Q1 24 | — | $102.0M |
自由现金流率PSAWY
| Q4 25 | — | -8.3% | ||
| Q3 25 | — | 11.8% | ||
| Q2 25 | — | 20.6% | ||
| Q1 25 | — | 2.7% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | 13.4% | ||
| Q2 24 | — | 21.8% | ||
| Q1 24 | — | 5.7% |
资本支出强度PSAWY
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 1.2% |
现金转化率PSAWY
| Q4 25 | 1.45× | -1.54× | ||
| Q3 25 | 1.71× | 2.63× | ||
| Q2 25 | 2.43× | 4.55× | ||
| Q1 25 | 1.73× | 0.84× | ||
| Q4 24 | 1.25× | 2.69× | ||
| Q3 24 | 1.86× | 8.36× | ||
| Q2 24 | 1.73× | 2.50× | ||
| Q1 24 | 1.31× | 1.09× |
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% |
WY
暂无分部数据
