vs
Safehold Inc.（SAFE）与null（SWIM）财务数据对比。点击上方公司名可切换其他公司
null的季度营收约是Safehold Inc.的1.0倍（$100.0M vs $97.9M），Safehold Inc.净利率更高（28.5% vs -7.0%，领先35.5%），null同比增速更快（14.5% vs 6.5%），过去两年Safehold Inc.的营收复合增速更高（2.5% vs -4.9%）
SAFE投资有限公司是一家位于中国香港的中国主权财富基金，主要承担主权财富相关的投资运营职能，依托香港的国际金融中心优势开展相关投资业务。
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
SAFE vs SWIM — 直观对比
营收规模更大
SWIM
是对方的1.0倍
$97.9M
营收增速更快
SWIM
高出8.0%
6.5%
净利率更高
SAFE
高出35.5%
-7.0%
两年增速更快
SAFE
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $97.9M | $100.0M |
| 净利润 | $27.9M | $-7.0M |
| 毛利率 | 98.6% | 28.0% |
| 营业利润率 | 27.4% | -10.7% |
| 净利率 | 28.5% | -7.0% |
| 营收同比 | 6.5% | 14.5% |
| 净利润同比 | 7.1% | 76.0% |
| 每股收益（稀释后） | $0.38 | $-0.06 |
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SAFESWIM
| Q4 25 | $97.9M | $100.0M | ||
| Q3 25 | $96.2M | $161.9M | ||
| Q2 25 | $93.8M | $172.6M | ||
| Q1 25 | $97.7M | $111.4M | ||
| Q4 24 | $91.9M | $87.3M | ||
| Q3 24 | $90.7M | $150.5M | ||
| Q2 24 | $89.9M | $160.1M | ||
| Q1 24 | $93.2M | $110.6M |
净利润SAFESWIM
| Q4 25 | $27.9M | $-7.0M | ||
| Q3 25 | $29.3M | $8.1M | ||
| Q2 25 | $27.9M | $16.0M | ||
| Q1 25 | $29.4M | $-6.0M | ||
| Q4 24 | $26.0M | $-29.2M | ||
| Q3 24 | $19.3M | $5.9M | ||
| Q2 24 | $29.7M | $13.3M | ||
| Q1 24 | $30.7M | $-7.9M |
毛利率SAFESWIM
| Q4 25 | 98.6% | 28.0% | ||
| Q3 25 | 98.5% | 35.4% | ||
| Q2 25 | 99.1% | 37.1% | ||
| Q1 25 | 98.8% | 29.5% | ||
| Q4 24 | 98.8% | 24.6% | ||
| Q3 24 | 98.8% | 32.4% | ||
| Q2 24 | 98.8% | 33.1% | ||
| Q1 24 | 98.8% | 27.7% |
营业利润率SAFESWIM
| Q4 25 | 27.4% | -10.7% | ||
| Q3 25 | 25.9% | 13.3% | ||
| Q2 25 | 25.5% | 14.3% | ||
| Q1 25 | 25.9% | -4.4% | ||
| Q4 24 | 24.6% | -14.9% | ||
| Q3 24 | 17.5% | 8.9% | ||
| Q2 24 | 26.7% | 12.5% | ||
| Q1 24 | 26.4% | -1.9% |
净利率SAFESWIM
| Q4 25 | 28.5% | -7.0% | ||
| Q3 25 | 30.5% | 5.0% | ||
| Q2 25 | 29.8% | 9.3% | ||
| Q1 25 | 30.1% | -5.4% | ||
| Q4 24 | 28.3% | -33.4% | ||
| Q3 24 | 21.3% | 3.9% | ||
| Q2 24 | 33.0% | 8.3% | ||
| Q1 24 | 33.0% | -7.1% |
每股收益（稀释后）SAFESWIM
| Q4 25 | $0.38 | $-0.06 | ||
| Q3 25 | $0.41 | $0.07 | ||
| Q2 25 | $0.39 | $0.13 | ||
| Q1 25 | $0.41 | $-0.05 | ||
| Q4 24 | $0.36 | $-0.24 | ||
| Q3 24 | $0.27 | $0.05 | ||
| Q2 24 | $0.42 | $0.11 | ||
| Q1 24 | $0.43 | $-0.07 |
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 | $21.7M | — |
| 总债务越低越好 | $4.6B | $279.8M |
| 股东权益账面价值 | $2.4B | $405.9M |
| 总资产 | $7.2B | $823.2M |
| 负债/权益比越低杠杆越低 | 1.90× | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资SAFESWIM
| Q4 25 | $21.7M | — | ||
| Q3 25 | $12.1M | — | ||
| Q2 25 | $13.9M | — | ||
| Q1 25 | $17.3M | — | ||
| Q4 24 | $8.3M | — | ||
| Q3 24 | $15.6M | — | ||
| Q2 24 | $13.4M | — | ||
| Q1 24 | $11.3M | — |
总债务SAFESWIM
| Q4 25 | $4.6B | $279.8M | ||
| Q3 25 | $4.5B | $281.1M | ||
| Q2 25 | $4.4B | $281.5M | ||
| Q1 25 | $4.3B | $306.9M | ||
| Q4 24 | $4.3B | $281.5M | ||
| Q3 24 | $4.3B | $282.8M | ||
| Q2 24 | $4.2B | $282.4M | ||
| Q1 24 | $4.1B | $282.8M |
股东权益SAFESWIM
| Q4 25 | $2.4B | $405.9M | ||
| Q3 25 | $2.4B | $408.4M | ||
| Q2 25 | $2.4B | $398.4M | ||
| Q1 25 | $2.4B | $381.1M | ||
| Q4 24 | $2.3B | $387.2M | ||
| Q3 24 | $2.3B | $416.6M | ||
| Q2 24 | $2.3B | $408.1M | ||
| Q1 24 | $2.3B | $391.8M |
总资产SAFESWIM
| Q4 25 | $7.2B | $823.2M | ||
| Q3 25 | $7.1B | $844.4M | ||
| Q2 25 | $7.1B | $822.1M | ||
| Q1 25 | $6.9B | $824.6M | ||
| Q4 24 | $6.9B | $794.2M | ||
| Q3 24 | $6.8B | $853.4M | ||
| Q2 24 | $6.8B | $830.0M | ||
| Q1 24 | $6.7B | $808.6M |
负债/权益比SAFESWIM
| Q4 25 | 1.90× | 0.69× | ||
| Q3 25 | 1.89× | 0.69× | ||
| Q2 25 | 1.87× | 0.71× | ||
| Q1 25 | 1.85× | 0.81× | ||
| Q4 24 | 1.84× | 0.73× | ||
| Q3 24 | 1.88× | 0.68× | ||
| Q2 24 | 1.81× | 0.69× | ||
| Q1 24 | 1.81× | 0.72× |
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 | $47.8M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | — | $14.1M |
| 自由现金流率自由现金流/营收 | — | 14.1% |
| 资本支出强度资本支出/营收 | — | 9.2% |
| 现金转化率经营现金流/净利润 | 1.72× | — |
| 过去12个月自由现金流最近4个季度 | — | $38.0M |
8季度趋势，按日历期对齐
经营现金流SAFESWIM
| Q4 25 | $47.8M | $23.3M | ||
| Q3 25 | $-1.4M | $51.0M | ||
| Q2 25 | $28.0M | $36.0M | ||
| Q1 25 | $8.9M | $-46.9M | ||
| Q4 24 | $37.9M | $6.2M | ||
| Q3 24 | $8.3M | $37.2M | ||
| Q2 24 | $24.8M | $52.4M | ||
| Q1 24 | $-3.1M | $-34.5M |
自由现金流SAFESWIM
| Q4 25 | — | $14.1M | ||
| Q3 25 | — | $45.2M | ||
| Q2 25 | — | $29.1M | ||
| Q1 25 | — | $-50.3M | ||
| Q4 24 | — | $-98.0K | ||
| Q3 24 | — | $33.2M | ||
| Q2 24 | — | $47.9M | ||
| Q1 24 | — | $-39.9M |
自由现金流率SAFESWIM
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 27.9% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | -45.2% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 29.9% | ||
| Q1 24 | — | -36.0% |
资本支出强度SAFESWIM
| Q4 25 | — | 9.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 4.8% |
现金转化率SAFESWIM
| Q4 25 | 1.72× | — | ||
| Q3 25 | -0.05× | 6.29× | ||
| Q2 25 | 1.00× | 2.25× | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 1.45× | — | ||
| Q3 24 | 0.43× | 6.32× | ||
| Q2 24 | 0.83× | 3.95× | ||
| Q1 24 | -0.10× | — |
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
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
