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Regency Centers（REG）与USA Compression Partners, LP（USAC）财务数据对比。点击上方公司名可切换其他公司
Regency Centers的季度营收约是USA Compression Partners, LP的1.6倍（$404.2M vs $252.5M），Regency Centers净利率更高（50.1% vs 11.0%，领先39.1%），Regency Centers同比增速更快（8.5% vs 2.7%），过去两年Regency Centers的营收复合增速更高（5.4% vs 4.9%）
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。
USA Compression Partners, LP是一家总部位于美国的天然气压缩服务供应商，服务覆盖油气行业上游、中游及下游领域，提供定制化压缩系统、设备维护与运营支持，助力天然气生产、加工和运输环节高效运转。
REG vs USAC — 直观对比
营收规模更大
REG
是对方的1.6倍
$252.5M
营收增速更快
REG
高出5.8%
2.7%
净利率更高
REG
高出39.1%
11.0%
两年增速更快
REG
近两年复合增速
4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $404.2M | $252.5M |
| 净利润 | $202.5M | $27.8M |
| 毛利率 | — | — |
| 营业利润率 | 71.0% | 30.3% |
| 净利率 | 50.1% | 11.0% |
| 营收同比 | 8.5% | 2.7% |
| 净利润同比 | 134.1% | 9.1% |
| 每股收益（稀释后） | — | — |
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REGUSAC
| Q4 25 | $404.2M | $252.5M | ||
| Q3 25 | $387.6M | $250.3M | ||
| Q2 25 | $380.8M | $250.1M | ||
| Q1 25 | $380.9M | $245.2M | ||
| Q4 24 | $372.5M | $245.9M | ||
| Q3 24 | $360.3M | $240.0M | ||
| Q2 24 | $357.3M | $235.3M | ||
| Q1 24 | $363.9M | $229.3M |
净利润REGUSAC
| Q4 25 | $202.5M | $27.8M | ||
| Q3 25 | $109.4M | $34.5M | ||
| Q2 25 | $106.0M | $28.6M | ||
| Q1 25 | $109.6M | $20.5M | ||
| Q4 24 | $86.5M | $25.4M | ||
| Q3 24 | $101.5M | $19.3M | ||
| Q2 24 | $102.7M | $31.2M | ||
| Q1 24 | $109.8M | $23.6M |
营业利润率REGUSAC
| Q4 25 | 71.0% | 30.3% | ||
| Q3 25 | 72.7% | 33.5% | ||
| Q2 25 | 73.8% | 30.6% | ||
| Q1 25 | 71.8% | 28.3% | ||
| Q4 24 | 71.1% | 30.3% | ||
| Q3 24 | 72.5% | 31.5% | ||
| Q2 24 | 72.3% | 32.9% | ||
| Q1 24 | 72.3% | 29.2% |
净利率REGUSAC
| Q4 25 | 50.1% | 11.0% | ||
| Q3 25 | 28.2% | 13.8% | ||
| Q2 25 | 27.8% | 11.4% | ||
| Q1 25 | 28.8% | 8.4% | ||
| Q4 24 | 23.2% | 10.3% | ||
| Q3 24 | 28.2% | 8.1% | ||
| Q2 24 | 28.7% | 13.3% | ||
| Q1 24 | 30.2% | 10.3% |
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 | — | $8.6M |
| 总债务越低越好 | $4.7B | $2.5B |
| 股东权益账面价值 | $6.9B | — |
| 总资产 | $13.0B | $2.6B |
| 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REGUSAC
| Q4 25 | — | $8.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $2.0K | ||
| Q1 25 | — | $2.0K | ||
| Q4 24 | — | $14.0K | ||
| Q3 24 | — | $79.0K | ||
| Q2 24 | — | $9.0K | ||
| Q1 24 | — | $8.0K |
总债务REGUSAC
| Q4 25 | $4.7B | $2.5B | ||
| Q3 25 | $4.9B | $2.5B | ||
| Q2 25 | $4.8B | $2.5B | ||
| Q1 25 | $4.6B | $2.5B | ||
| Q4 24 | $4.4B | $2.5B | ||
| Q3 24 | $4.4B | $2.5B | ||
| Q2 24 | $4.4B | $2.5B | ||
| Q1 24 | $4.4B | $2.5B |
股东权益REGUSAC
| Q4 25 | $6.9B | — | ||
| Q3 25 | $6.8B | — | ||
| Q2 25 | $6.7B | — | ||
| Q1 25 | $6.7B | — | ||
| Q4 24 | $6.7B | — | ||
| Q3 24 | $6.8B | — | ||
| Q2 24 | $6.8B | — | ||
| Q1 24 | $7.0B | — |
总资产REGUSAC
| Q4 25 | $13.0B | $2.6B | ||
| Q3 25 | $13.1B | $2.7B | ||
| Q2 25 | $12.7B | $2.7B | ||
| Q1 25 | $12.6B | $2.7B | ||
| Q4 24 | $12.4B | $2.7B | ||
| Q3 24 | $12.4B | $2.8B | ||
| Q2 24 | $12.4B | $2.8B | ||
| Q1 24 | $12.7B | $2.8B |
负债/权益比REGUSAC
| 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 | $139.5M |
| 自由现金流经营现金流 - 资本支出 | — | $87.7M |
| 自由现金流率自由现金流/营收 | — | 34.8% |
| 资本支出强度资本支出/营收 | — | 20.5% |
| 现金转化率经营现金流/净利润 | 1.01× | 5.02× |
| 过去12个月自由现金流最近4个季度 | — | $277.0M |
8季度趋势，按日历期对齐
经营现金流REGUSAC
| Q4 25 | $203.9M | $139.5M | ||
| Q3 25 | $218.7M | $75.9M | ||
| Q2 25 | $244.0M | $124.2M | ||
| Q1 25 | $161.0M | $54.7M | ||
| Q4 24 | $191.4M | $130.2M | ||
| Q3 24 | $227.6M | $48.5M | ||
| Q2 24 | $203.5M | $96.7M | ||
| Q1 24 | $167.8M | $65.9M |
自由现金流REGUSAC
| Q4 25 | — | $87.7M | ||
| Q3 25 | — | $51.9M | ||
| Q2 25 | — | $101.1M | ||
| Q1 25 | — | $36.3M | ||
| Q4 24 | — | $101.2M | ||
| Q3 24 | — | $19.8M | ||
| Q2 24 | — | $48.2M | ||
| Q1 24 | — | $-32.7M |
自由现金流率REGUSAC
| Q4 25 | — | 34.8% | ||
| Q3 25 | — | 20.7% | ||
| Q2 25 | — | 40.4% | ||
| Q1 25 | — | 14.8% | ||
| Q4 24 | — | 41.1% | ||
| Q3 24 | — | 8.2% | ||
| Q2 24 | — | 20.5% | ||
| Q1 24 | — | -14.3% |
资本支出强度REGUSAC
| Q4 25 | — | 20.5% | ||
| Q3 25 | — | 9.6% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | — | 7.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 12.0% | ||
| Q2 24 | — | 20.6% | ||
| Q1 24 | — | 43.0% |
现金转化率REGUSAC
| Q4 25 | 1.01× | 5.02× | ||
| Q3 25 | 2.00× | 2.20× | ||
| Q2 25 | 2.30× | 4.35× | ||
| Q1 25 | 1.47× | 2.66× | ||
| Q4 24 | 2.21× | 5.12× | ||
| Q3 24 | 2.24× | 2.51× | ||
| Q2 24 | 1.98× | 3.10× | ||
| Q1 24 | 1.53× | 2.80× |
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% |
USAC
| Revenue From Contract Operations Excluding Revenue From Related Party | $231.7M | 92% |
| Entities Affiliated With Energy Transfer LP | $16.6M | 7% |
| Transferred At Point In Time | $5.4M | 2% |
