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标普全球（SPGI）与Welltower（WELL）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是Welltower的1.2倍（$4.2B vs $3.4B），标普全球净利率更高（36.1% vs 22.4%，领先13.6%），Welltower同比增速更快（38.3% vs 10.0%），过去两年Welltower的营收复合增速更高（55.1% vs 8.4%）
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息、数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球市场财智、标普全球能源、标普全球移动、印度信用评级机构CRISIL等业务板块，同时控股合资企业标普道琼斯指数。
Welltower Inc.是一家专注于医疗基础设施领域的房地产投资信托企业，核心业务为医疗类地产投资运营。截至2022年12月31日，公司投资的物业总量约3000处，全部布局于美国、加拿大及英国市场，是全球医疗地产投资领域的代表性企业之一。
SPGI vs WELL — 直观对比
营收规模更大
SPGI
是对方的1.2倍
$3.4B
营收增速更快
WELL
高出28.3%
10.0%
净利率更高
SPGI
高出13.6%
22.4%
两年增速更快
WELL
近两年复合增速
8.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $3.4B |
| 净利润 | $1.5B | $752.3M |
| 毛利率 | — | — |
| 营业利润率 | 48.0% | — |
| 净利率 | 36.1% | 22.4% |
| 营收同比 | 10.0% | 38.3% |
| 净利润同比 | 28.0% | 192.4% |
| 每股收益（稀释后） | $4.69 | — |
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SPGIWELL
| Q1 26 | $4.2B | $3.4B | ||
| Q4 25 | $3.9B | $2.6B | ||
| Q3 25 | $3.9B | $2.1B | ||
| Q2 25 | $3.8B | $2.0B | ||
| Q1 25 | $3.8B | $1.9B | ||
| Q4 24 | $3.6B | $1.8B | ||
| Q3 24 | $3.6B | $1.5B | ||
| Q2 24 | $3.5B | $1.4B |
净利润SPGIWELL
| Q1 26 | $1.5B | $752.3M | ||
| Q4 25 | $1.1B | $117.8M | ||
| Q3 25 | $1.2B | $282.2M | ||
| Q2 25 | $1.1B | $304.6M | ||
| Q1 25 | $1.1B | $257.3M | ||
| Q4 24 | $879.0M | $123.8M | ||
| Q3 24 | $971.0M | $456.8M | ||
| Q2 24 | $1.0B | $260.7M |
毛利率SPGIWELL
| Q1 26 | — | — | ||
| Q4 25 | 70.1% | 24.3% | ||
| Q3 25 | 71.2% | 23.5% | ||
| Q2 25 | 70.2% | 23.2% | ||
| Q1 25 | 69.5% | 21.6% | ||
| Q4 24 | 69.8% | 20.0% | ||
| Q3 24 | 70.0% | 19.8% | ||
| Q2 24 | 69.4% | 20.2% |
营业利润率SPGIWELL
| Q1 26 | 48.0% | — | ||
| Q4 25 | 42.7% | — | ||
| Q3 25 | 43.1% | 14.2% | ||
| Q2 25 | 41.3% | 15.1% | ||
| Q1 25 | 41.8% | 10.7% | ||
| Q4 24 | 36.4% | 6.2% | ||
| Q3 24 | 40.1% | 12.2% | ||
| Q2 24 | 40.9% | 6.5% |
净利率SPGIWELL
| Q1 26 | 36.1% | 22.4% | ||
| Q4 25 | 28.9% | 4.6% | ||
| Q3 25 | 30.2% | 13.7% | ||
| Q2 25 | 28.5% | 15.5% | ||
| Q1 25 | 28.9% | 13.8% | ||
| Q4 24 | 24.5% | 7.0% | ||
| Q3 24 | 27.2% | 30.2% | ||
| Q2 24 | 28.5% | 18.7% |
每股收益（稀释后）SPGIWELL
| Q1 26 | $4.69 | — | ||
| Q4 25 | $3.76 | $0.13 | ||
| Q3 25 | $3.86 | $0.41 | ||
| Q2 25 | $3.50 | $0.45 | ||
| Q1 25 | $3.54 | $0.40 | ||
| Q4 24 | $2.85 | $0.20 | ||
| Q3 24 | $3.11 | $0.73 | ||
| Q2 24 | $3.23 | $0.42 |
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 | — | $4.7B |
| 总债务越低越好 | $13.3B | — |
| 股东权益账面价值 | $31.3B | $44.7B |
| 总资产 | $60.8B | $67.2B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资SPGIWELL
| Q1 26 | — | $4.7B | ||
| Q4 25 | $1.8B | $5.0B | ||
| Q3 25 | $1.7B | $6.8B | ||
| Q2 25 | $1.8B | $4.4B | ||
| Q1 25 | $1.5B | $3.5B | ||
| Q4 24 | $1.7B | $3.5B | ||
| Q3 24 | $1.7B | $3.6B | ||
| Q2 24 | $2.0B | $2.8B |
总债务SPGIWELL
| Q1 26 | $13.3B | — | ||
| Q4 25 | $13.1B | $19.2B | ||
| Q3 25 | $11.4B | $16.9B | ||
| Q2 25 | $11.4B | $16.0B | ||
| Q1 25 | $11.4B | $15.7B | ||
| Q4 24 | $11.4B | $15.5B | ||
| Q3 24 | $11.4B | $15.8B | ||
| Q2 24 | $11.4B | $13.9B |
股东权益SPGIWELL
| Q1 26 | $31.3B | $44.7B | ||
| Q4 25 | $31.1B | $42.1B | ||
| Q3 25 | $33.1B | $38.8B | ||
| Q2 25 | $33.4B | $35.9B | ||
| Q1 25 | $33.4B | $34.0B | ||
| Q4 24 | $33.2B | $32.0B | ||
| Q3 24 | $34.0B | $30.3B | ||
| Q2 24 | $34.9B | $29.0B |
总资产SPGIWELL
| Q1 26 | $60.8B | $67.2B | ||
| Q4 25 | $61.2B | $67.3B | ||
| Q3 25 | $59.7B | $59.5B | ||
| Q2 25 | $60.4B | $55.8B | ||
| Q1 25 | $59.9B | $53.3B | ||
| Q4 24 | $60.2B | $51.0B | ||
| Q3 24 | $60.4B | $49.0B | ||
| Q2 24 | $61.0B | $45.5B |
负债/权益比SPGIWELL
| Q1 26 | 0.43× | — | ||
| Q4 25 | 0.42× | 0.46× | ||
| Q3 25 | 0.34× | 0.43× | ||
| Q2 25 | 0.34× | 0.44× | ||
| Q1 25 | 0.34× | 0.46× | ||
| Q4 24 | 0.34× | 0.49× | ||
| Q3 24 | 0.34× | 0.52× | ||
| Q2 24 | 0.33× | 0.48× |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $919.0M | — |
| 自由现金流率自由现金流/营收 | 22.0% | — |
| 资本支出强度资本支出/营收 | 0.6% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $5.5B | — |
8季度趋势，按日历期对齐
经营现金流SPGIWELL
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $654.3M | ||
| Q3 25 | $1.5B | $858.4M | ||
| Q2 25 | $1.4B | $770.0M | ||
| Q1 25 | $953.0M | $599.0M | ||
| Q4 24 | $1.7B | $559.2M | ||
| Q3 24 | $1.4B | $685.0M | ||
| Q2 24 | $1.6B | $605.4M |
自由现金流SPGIWELL
| Q1 26 | $919.0M | — | ||
| Q4 25 | $1.7B | $340.4M | ||
| Q3 25 | $1.5B | $595.3M | ||
| Q2 25 | $1.4B | $537.2M | ||
| Q1 25 | $910.0M | $358.6M | ||
| Q4 24 | $1.7B | $240.4M | ||
| Q3 24 | $1.4B | $443.8M | ||
| Q2 24 | $1.5B | $440.3M |
自由现金流率SPGIWELL
| Q1 26 | 22.0% | — | ||
| Q4 25 | 43.5% | 13.3% | ||
| Q3 25 | 37.6% | 28.9% | ||
| Q2 25 | 36.9% | 27.3% | ||
| Q1 25 | 24.1% | 19.2% | ||
| Q4 24 | 47.5% | 13.6% | ||
| Q3 24 | 39.4% | 29.4% | ||
| Q2 24 | 42.9% | 31.6% |
资本支出强度SPGIWELL
| Q1 26 | 0.6% | — | ||
| Q4 25 | 1.2% | 12.3% | ||
| Q3 25 | 1.2% | 12.8% | ||
| Q2 25 | 1.6% | 11.8% | ||
| Q1 25 | 1.1% | 12.9% | ||
| Q4 24 | 0.9% | 18.1% | ||
| Q3 24 | 1.0% | 16.0% | ||
| Q2 24 | 0.9% | 11.8% |
现金转化率SPGIWELL
| Q1 26 | — | — | ||
| Q4 25 | 1.54× | 5.56× | ||
| Q3 25 | 1.28× | 3.04× | ||
| Q2 25 | 1.35× | 2.53× | ||
| Q1 25 | 0.87× | 2.33× | ||
| Q4 24 | 1.98× | 4.52× | ||
| Q3 24 | 1.49× | 1.50× | ||
| Q2 24 | 1.54× | 2.32× |
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
SPGI
| Ratings | $1.3B | 31% |
| Market Intelligence | $1.3B | 31% |
| Energy | $652.0M | 16% |
| Indices | $519.0M | 12% |
| Mobility | $454.0M | 11% |
WELL
| Resident fees and services | $2.8B | 83% |
| Rental income | $453.8M | 14% |
| Other | $117.2M | 3% |
