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西蒙地产集团（SPG）与威德福国际（WFRD）财务数据对比。点击上方公司名可切换其他公司
西蒙地产集团的季度营收约是威德福国际的1.6倍（$1.8B vs $1.2B），西蒙地产集团净利率更高（197.6% vs 9.5%，领先188.1%），西蒙地产集团同比增速更快（13.2% vs -8.3%），西蒙地产集团自由现金流更多（$948.8M vs $85.0M），过去两年西蒙地产集团的营收复合增速更高（11.4% vs -9.5%）
西蒙地产集团是美国头部房地产投资信托企业，核心投资范畴涵盖购物中心、奥特莱斯、社区及生活方式中心，是美国规模最大的购物中心持有方，总部位于印第安纳州印第安纳波利斯，截至2024年12月末共持有232处物业的相关权益。
威德福国际是一家美国跨国油田服务企业，总部位于美国，业务覆盖全球75个国家的油气产区，为油气井的钻探、评估、完井、生产及修井作业提供专业技术设备与相关服务，在全球油田服务领域拥有广泛布局。
SPG vs WFRD — 直观对比
营收规模更大
SPG
是对方的1.6倍
$1.2B
营收增速更快
SPG
高出21.5%
-8.3%
净利率更高
SPG
高出188.1%
9.5%
自由现金流更多
SPG
多$863.8M
$85.0M
两年增速更快
SPG
近两年复合增速
-9.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.2B |
| 净利润 | $3.5B | $109.0M |
| 毛利率 | — | — |
| 营业利润率 | 49.7% | 10.7% |
| 净利率 | 197.6% | 9.5% |
| 营收同比 | 13.2% | -8.3% |
| 净利润同比 | 358.7% | -21.6% |
| 每股收益（稀释后） | $9.34 | $1.49 |
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SPGWFRD
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.8B | $1.3B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.5B | $1.4B | ||
| Q2 24 | $1.5B | $1.4B |
净利润SPGWFRD
| Q1 26 | — | $109.0M | ||
| Q4 25 | $3.5B | $138.0M | ||
| Q3 25 | $702.7M | $81.0M | ||
| Q2 25 | $643.7M | $136.0M | ||
| Q1 25 | $477.9M | $76.0M | ||
| Q4 24 | $771.8M | $112.0M | ||
| Q3 24 | $546.7M | $157.0M | ||
| Q2 24 | $569.4M | $125.0M |
营业利润率SPGWFRD
| Q1 26 | — | 10.7% | ||
| Q4 25 | 49.7% | 15.4% | ||
| Q3 25 | 50.8% | 14.4% | ||
| Q2 25 | 49.7% | 19.7% | ||
| Q1 25 | 49.4% | 11.9% | ||
| Q4 24 | 52.8% | 14.8% | ||
| Q3 24 | 51.9% | 17.2% | ||
| Q2 24 | 51.7% | 18.8% |
净利率SPGWFRD
| Q1 26 | — | 9.5% | ||
| Q4 25 | 197.6% | 10.7% | ||
| Q3 25 | 43.9% | 6.6% | ||
| Q2 25 | 43.0% | 11.3% | ||
| Q1 25 | 32.4% | 6.4% | ||
| Q4 24 | 48.8% | 8.4% | ||
| Q3 24 | 36.9% | 11.1% | ||
| Q2 24 | 39.0% | 8.9% |
每股收益（稀释后）SPGWFRD
| Q1 26 | — | $1.49 | ||
| Q4 25 | $9.34 | $1.91 | ||
| Q3 25 | $1.86 | $1.12 | ||
| Q2 25 | $1.70 | $1.87 | ||
| Q1 25 | $1.27 | $1.03 | ||
| Q4 24 | $2.04 | $1.53 | ||
| Q3 24 | $1.46 | $2.06 | ||
| Q2 24 | $1.51 | $1.66 |
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 | $823.1M | $1.0B |
| 总债务越低越好 | $28.4B | $1.5B |
| 股东权益账面价值 | $5.2B | $1.8B |
| 总资产 | $40.6B | — |
| 负债/权益比越低杠杆越低 | 5.46× | 0.84× |
8季度趋势，按日历期对齐
现金及短期投资SPGWFRD
| Q1 26 | — | $1.0B | ||
| Q4 25 | $823.1M | $987.0M | ||
| Q3 25 | $1.6B | $967.0M | ||
| Q2 25 | $1.2B | $943.0M | ||
| Q1 25 | $1.4B | $873.0M | ||
| Q4 24 | $1.4B | $916.0M | ||
| Q3 24 | $2.5B | $920.0M | ||
| Q2 24 | $2.5B | $862.0M |
总债务SPGWFRD
| Q1 26 | — | $1.5B | ||
| Q4 25 | $28.4B | $1.5B | ||
| Q3 25 | $25.8B | $1.5B | ||
| Q2 25 | $25.4B | $1.6B | ||
| Q1 25 | $24.8B | $1.6B | ||
| Q4 24 | $24.3B | $1.6B | ||
| Q3 24 | $25.4B | $1.6B | ||
| Q2 24 | $25.3B | $1.6B |
股东权益SPGWFRD
| Q1 26 | — | $1.8B | ||
| Q4 25 | $5.2B | $1.7B | ||
| Q3 25 | $2.3B | $1.6B | ||
| Q2 25 | $2.5B | $1.5B | ||
| Q1 25 | $2.6B | $1.4B | ||
| Q4 24 | $2.9B | $1.3B | ||
| Q3 24 | $2.7B | $1.3B | ||
| Q2 24 | $2.9B | $1.2B |
总资产SPGWFRD
| Q1 26 | — | — | ||
| Q4 25 | $40.6B | $5.2B | ||
| Q3 25 | $33.6B | $5.3B | ||
| Q2 25 | $33.3B | $5.1B | ||
| Q1 25 | $32.5B | $5.1B | ||
| Q4 24 | $32.4B | $5.2B | ||
| Q3 24 | $33.3B | $5.2B | ||
| Q2 24 | $33.4B | $5.1B |
负债/权益比SPGWFRD
| Q1 26 | — | 0.84× | ||
| Q4 25 | 5.46× | 0.86× | ||
| Q3 25 | 10.98× | 0.94× | ||
| Q2 25 | 10.36× | 1.04× | ||
| Q1 25 | 9.50× | 1.17× | ||
| Q4 24 | 8.25× | 1.26× | ||
| Q3 24 | 9.37× | 1.21× | ||
| Q2 24 | 8.59× | 1.33× |
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 | $1.2B | $136.0M |
| 自由现金流经营现金流 - 资本支出 | $948.8M | $85.0M |
| 自由现金流率自由现金流/营收 | 53.0% | 7.4% |
| 资本支出强度资本支出/营收 | 14.2% | 4.7% |
| 现金转化率经营现金流/净利润 | 0.34× | 1.25× |
| 过去12个月自由现金流最近4个季度 | $3.2B | $470.0M |
8季度趋势，按日历期对齐
经营现金流SPGWFRD
| Q1 26 | — | $136.0M | ||
| Q4 25 | $1.2B | $268.0M | ||
| Q3 25 | $890.3M | $138.0M | ||
| Q2 25 | $1.2B | $128.0M | ||
| Q1 25 | $827.2M | $142.0M | ||
| Q4 24 | $1.1B | $249.0M | ||
| Q3 24 | $892.9M | $262.0M | ||
| Q2 24 | $1.1B | $150.0M |
自由现金流SPGWFRD
| Q1 26 | — | $85.0M | ||
| Q4 25 | $948.8M | $217.0M | ||
| Q3 25 | $685.0M | $94.0M | ||
| Q2 25 | $971.3M | $74.0M | ||
| Q1 25 | $597.0M | $65.0M | ||
| Q4 24 | $867.7M | $149.0M | ||
| Q3 24 | $706.5M | $184.0M | ||
| Q2 24 | $874.8M | $88.0M |
自由现金流率SPGWFRD
| Q1 26 | — | 7.4% | ||
| Q4 25 | 53.0% | 16.8% | ||
| Q3 25 | 42.8% | 7.6% | ||
| Q2 25 | 64.8% | 6.1% | ||
| Q1 25 | 40.5% | 5.4% | ||
| Q4 24 | 54.8% | 11.1% | ||
| Q3 24 | 47.7% | 13.1% | ||
| Q2 24 | 60.0% | 6.3% |
资本支出强度SPGWFRD
| Q1 26 | — | 4.7% | ||
| Q4 25 | 14.2% | 4.0% | ||
| Q3 25 | 12.8% | 3.6% | ||
| Q2 25 | 16.3% | 4.5% | ||
| Q1 25 | 15.6% | 6.5% | ||
| Q4 24 | 13.8% | 7.5% | ||
| Q3 24 | 12.6% | 5.5% | ||
| Q2 24 | 12.9% | 4.4% |
现金转化率SPGWFRD
| Q1 26 | — | 1.25× | ||
| Q4 25 | 0.34× | 1.94× | ||
| Q3 25 | 1.27× | 1.70× | ||
| Q2 25 | 1.89× | 0.94× | ||
| Q1 25 | 1.73× | 1.87× | ||
| Q4 24 | 1.41× | 2.22× | ||
| Q3 24 | 1.63× | 1.67× | ||
| Q2 24 | 1.87× | 1.20× |
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
SPG
| Real Estate Segment | $1.7B | 95% |
| Other | $86.3M | 5% |
WFRD
| Middle East/North Africa/Asia | $556.0M | 48% |
| Other | $360.0M | 31% |
| Europe/Sub-Sahara Africa/Russia | $236.0M | 20% |
