vs
Regency Centers（REG）与STARWOOD PROPERTY TRUST, INC.（STWD）财务数据对比。点击上方公司名可切换其他公司
STARWOOD PROPERTY TRUST, INC.的季度营收约是Regency Centers的1.2倍（$492.9M vs $404.2M），Regency Centers净利率更高（50.1% vs 19.7%，领先30.4%），Regency Centers同比增速更快（8.5% vs 8.5%），过去两年Regency Centers的营收复合增速更高（5.4% vs -2.9%）
Regency Centers是总部位于美国佛罗里达州杰克逊维尔的房地产投资信托基金，也是以超市为核心租户的大型购物中心运营商之一。截至2020年10月21日，公司共持有415处物业，总建筑面积达5600万平方英尺，知名资产包括Serramonte Center及Village District 30%的股权。
喜达屋酒店及度假村国际集团是全球规模最大的酒店企业之一，业务涵盖酒店、度假村、水疗中心、住宅及度假产权物业的持有、运营、特许经营与管理。集团前身为1969年成立的房地产投资信托基金，1995年完成收购重组，旗下共11个品牌，管理及特许经营的物业共计1297处。
REG vs STWD — 直观对比
营收规模更大
STWD
是对方的1.2倍
$404.2M
营收增速更快
REG
高出0.0%
8.5%
净利率更高
REG
高出30.4%
19.7%
两年增速更快
REG
近两年复合增速
-2.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $404.2M | $492.9M |
| 净利润 | $202.5M | $96.9M |
| 毛利率 | — | — |
| 营业利润率 | 71.0% | 26.6% |
| 净利率 | 50.1% | 19.7% |
| 营收同比 | 8.5% | 8.5% |
| 净利润同比 | 134.1% | 87.7% |
| 每股收益（稀释后） | — | $0.25 |
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REGSTWD
| Q4 25 | $404.2M | $492.9M | ||
| Q3 25 | $387.6M | $488.9M | ||
| Q2 25 | $380.8M | $444.3M | ||
| Q1 25 | $380.9M | $418.2M | ||
| Q4 24 | $372.5M | $454.4M | ||
| Q3 24 | $360.3M | $479.5M | ||
| Q2 24 | $357.3M | $489.8M | ||
| Q1 24 | $363.9M | $523.1M |
净利润REGSTWD
| Q4 25 | $202.5M | $96.9M | ||
| Q3 25 | $109.4M | $72.6M | ||
| Q2 25 | $106.0M | $129.8M | ||
| Q1 25 | $109.6M | $112.3M | ||
| Q4 24 | $86.5M | $51.6M | ||
| Q3 24 | $101.5M | $76.1M | ||
| Q2 24 | $102.7M | $77.9M | ||
| Q1 24 | $109.8M | $154.3M |
营业利润率REGSTWD
| Q4 25 | 71.0% | 26.6% | ||
| Q3 25 | 72.7% | 19.1% | ||
| Q2 25 | 73.8% | 30.5% | ||
| Q1 25 | 71.8% | 28.7% | ||
| Q4 24 | 71.1% | 15.1% | ||
| Q3 24 | 72.5% | 17.2% | ||
| Q2 24 | 72.3% | 19.1% | ||
| Q1 24 | 72.3% | 30.8% |
净利率REGSTWD
| Q4 25 | 50.1% | 19.7% | ||
| Q3 25 | 28.2% | 14.8% | ||
| Q2 25 | 27.8% | 29.2% | ||
| Q1 25 | 28.8% | 26.8% | ||
| Q4 24 | 23.2% | 11.4% | ||
| Q3 24 | 28.2% | 15.9% | ||
| Q2 24 | 28.7% | 15.9% | ||
| Q1 24 | 30.2% | 29.5% |
每股收益（稀释后）REGSTWD
| Q4 25 | — | $0.25 | ||
| Q3 25 | — | $0.19 | ||
| Q2 25 | — | $0.38 | ||
| Q1 25 | — | $0.33 | ||
| Q4 24 | — | $0.15 | ||
| Q3 24 | — | $0.23 | ||
| Q2 24 | — | $0.24 | ||
| Q1 24 | — | $0.48 |
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 | — | $499.5M |
| 总债务越低越好 | $4.7B | — |
| 股东权益账面价值 | $6.9B | $6.8B |
| 总资产 | $13.0B | $63.2B |
| 负债/权益比越低杠杆越低 | 0.69× | — |
8季度趋势，按日历期对齐
现金及短期投资REGSTWD
| Q4 25 | — | $499.5M | ||
| Q3 25 | — | $301.1M | ||
| Q2 25 | — | $259.9M | ||
| Q1 25 | — | $440.6M | ||
| Q4 24 | — | $377.8M | ||
| Q3 24 | — | $357.9M | ||
| Q2 24 | — | $259.3M | ||
| Q1 24 | — | $327.4M |
总债务REGSTWD
| Q4 25 | $4.7B | — | ||
| Q3 25 | $4.9B | — | ||
| Q2 25 | $4.8B | — | ||
| Q1 25 | $4.6B | — | ||
| Q4 24 | $4.4B | — | ||
| Q3 24 | $4.4B | — | ||
| Q2 24 | $4.4B | — | ||
| Q1 24 | $4.4B | — |
股东权益REGSTWD
| Q4 25 | $6.9B | $6.8B | ||
| Q3 25 | $6.8B | $6.9B | ||
| Q2 25 | $6.7B | $6.4B | ||
| Q1 25 | $6.7B | $6.4B | ||
| Q4 24 | $6.7B | $6.4B | ||
| Q3 24 | $6.8B | $6.5B | ||
| Q2 24 | $6.8B | $6.2B | ||
| Q1 24 | $7.0B | $6.3B |
总资产REGSTWD
| Q4 25 | $13.0B | $63.2B | ||
| Q3 25 | $13.1B | $62.4B | ||
| Q2 25 | $12.7B | $62.4B | ||
| Q1 25 | $12.6B | $62.2B | ||
| Q4 24 | $12.4B | $62.6B | ||
| Q3 24 | $12.4B | $64.2B | ||
| Q2 24 | $12.4B | $64.1B | ||
| Q1 24 | $12.7B | $66.2B |
负债/权益比REGSTWD
| Q4 25 | 0.69× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 0.65× | — | ||
| Q2 24 | 0.64× | — | ||
| Q1 24 | 0.63× | — |
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 | $203.9M | $488.8M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.01× | 5.04× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流REGSTWD
| Q4 25 | $203.9M | $488.8M | ||
| Q3 25 | $218.7M | $337.6M | ||
| Q2 25 | $244.0M | $-87.4M | ||
| Q1 25 | $161.0M | $238.9M | ||
| Q4 24 | $191.4M | $295.6M | ||
| Q3 24 | $227.6M | $241.8M | ||
| Q2 24 | $203.5M | $53.3M | ||
| Q1 24 | $167.8M | $55.9M |
现金转化率REGSTWD
| Q4 25 | 1.01× | 5.04× | ||
| Q3 25 | 2.00× | 4.65× | ||
| Q2 25 | 2.30× | -0.67× | ||
| Q1 25 | 1.47× | 2.13× | ||
| Q4 24 | 2.21× | 5.72× | ||
| Q3 24 | 2.24× | 3.18× | ||
| Q2 24 | 1.98× | 0.68× | ||
| Q1 24 | 1.53× | 0.36× |
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
REG
| Shopping Centers | $418.0M | 103% |
| Propertymanagementservices | $4.1M | 1% |
| Assetmanagementservices | $1.7M | 0% |
STWD
| Commercial And Residential Lending Segment | $335.2M | 68% |
| Infrastructure Lending Segment | $70.3M | 14% |
| Property Segment | $57.8M | 12% |
| Other | $29.7M | 6% |
