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STARWOOD PROPERTY TRUST, INC.（STWD）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
Ubiquiti Inc.的季度营收约是STARWOOD PROPERTY TRUST, INC.的1.7倍（$814.9M vs $492.9M），Ubiquiti Inc.净利率更高（28.7% vs 19.7%，领先9.0%），Ubiquiti Inc.同比增速更快（35.8% vs 8.5%），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs -2.9%）
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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
STWD vs UI — 直观对比
营收规模更大
UI
是对方的1.7倍
$492.9M
营收增速更快
UI
高出27.4%
8.5%
净利率更高
UI
高出9.0%
19.7%
两年增速更快
UI
近两年复合增速
-2.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $492.9M | $814.9M |
| 净利润 | $96.9M | $233.6M |
| 毛利率 | — | 45.9% |
| 营业利润率 | 26.6% | 35.9% |
| 净利率 | 19.7% | 28.7% |
| 营收同比 | 8.5% | 35.8% |
| 净利润同比 | 87.7% | 70.8% |
| 每股收益（稀释后） | $0.25 | $3.86 |
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STWDUI
| Q4 25 | $492.9M | $814.9M | ||
| Q3 25 | $488.9M | $733.8M | ||
| Q2 25 | $444.3M | $759.2M | ||
| Q1 25 | $418.2M | $664.2M | ||
| Q4 24 | $454.4M | $599.9M | ||
| Q3 24 | $479.5M | $550.3M | ||
| Q2 24 | $489.8M | $507.5M | ||
| Q1 24 | $523.1M | $493.0M |
净利润STWDUI
| Q4 25 | $96.9M | $233.6M | ||
| Q3 25 | $72.6M | $207.9M | ||
| Q2 25 | $129.8M | $266.7M | ||
| Q1 25 | $112.3M | $180.4M | ||
| Q4 24 | $51.6M | $136.8M | ||
| Q3 24 | $76.1M | $128.0M | ||
| Q2 24 | $77.9M | $103.8M | ||
| Q1 24 | $154.3M | $76.3M |
毛利率STWDUI
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 46.0% | ||
| Q2 25 | — | 45.1% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | — | 41.2% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | 40.2% | ||
| Q1 24 | — | 35.3% |
营业利润率STWDUI
| Q4 25 | 26.6% | 35.9% | ||
| Q3 25 | 19.1% | 35.7% | ||
| Q2 25 | 30.5% | 34.4% | ||
| Q1 25 | 28.7% | 34.2% | ||
| Q4 24 | 15.1% | 29.8% | ||
| Q3 24 | 17.2% | 30.7% | ||
| Q2 24 | 19.1% | 27.3% | ||
| Q1 24 | 30.8% | 22.6% |
净利率STWDUI
| Q4 25 | 19.7% | 28.7% | ||
| Q3 25 | 14.8% | 28.3% | ||
| Q2 25 | 29.2% | 35.1% | ||
| Q1 25 | 26.8% | 27.2% | ||
| Q4 24 | 11.4% | 22.8% | ||
| Q3 24 | 15.9% | 23.3% | ||
| Q2 24 | 15.9% | 20.5% | ||
| Q1 24 | 29.5% | 15.5% |
每股收益（稀释后）STWDUI
| Q4 25 | $0.25 | $3.86 | ||
| Q3 25 | $0.19 | $3.43 | ||
| Q2 25 | $0.38 | $4.40 | ||
| Q1 25 | $0.33 | $2.98 | ||
| Q4 24 | $0.15 | $2.26 | ||
| Q3 24 | $0.23 | $2.12 | ||
| Q2 24 | $0.24 | $1.72 | ||
| Q1 24 | $0.48 | $1.26 |
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 | $302.8M |
| 总债务越低越好 | — | $47.5M |
| 股东权益账面价值 | $6.8B | $1.0B |
| 总资产 | $63.2B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资STWDUI
| Q4 25 | $499.5M | $302.8M | ||
| Q3 25 | $301.1M | $177.2M | ||
| Q2 25 | $259.9M | $149.7M | ||
| Q1 25 | $440.6M | $151.0M | ||
| Q4 24 | $377.8M | $133.1M | ||
| Q3 24 | $357.9M | $165.2M | ||
| Q2 24 | $259.3M | $126.3M | ||
| Q1 24 | $327.4M | $102.5M |
总债务STWDUI
| Q4 25 | — | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益STWDUI
| Q4 25 | $6.8B | $1.0B | ||
| Q3 25 | $6.9B | $828.4M | ||
| Q2 25 | $6.4B | $668.3M | ||
| Q1 25 | $6.4B | $436.1M | ||
| Q4 24 | $6.4B | $290.4M | ||
| Q3 24 | $6.5B | $188.1M | ||
| Q2 24 | $6.2B | $95.1M | ||
| Q1 24 | $6.3B | $25.9M |
总资产STWDUI
| Q4 25 | $63.2B | $1.6B | ||
| Q3 25 | $62.4B | $1.5B | ||
| Q2 25 | $62.4B | $1.5B | ||
| Q1 25 | $62.2B | $1.3B | ||
| Q4 24 | $62.6B | $1.2B | ||
| Q3 24 | $64.2B | $1.2B | ||
| Q2 24 | $64.1B | $1.2B | ||
| Q1 24 | $66.2B | $1.2B |
负债/权益比STWDUI
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 33.92× |
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 | $488.8M | $263.9M |
| 自由现金流经营现金流 - 资本支出 | — | $260.3M |
| 自由现金流率自由现金流/营收 | — | 31.9% |
| 资本支出强度资本支出/营收 | — | 0.4% |
| 现金转化率经营现金流/净利润 | 5.04× | 1.13× |
| 过去12个月自由现金流最近4个季度 | — | $699.5M |
8季度趋势，按日历期对齐
经营现金流STWDUI
| Q4 25 | $488.8M | $263.9M | ||
| Q3 25 | $337.6M | $198.5M | ||
| Q2 25 | $-87.4M | $130.4M | ||
| Q1 25 | $238.9M | $123.6M | ||
| Q4 24 | $295.6M | $152.4M | ||
| Q3 24 | $241.8M | $233.7M | ||
| Q2 24 | $53.3M | $231.4M | ||
| Q1 24 | $55.9M | $163.9M |
自由现金流STWDUI
| Q4 25 | — | $260.3M | ||
| Q3 25 | — | $193.3M | ||
| Q2 25 | — | $125.2M | ||
| Q1 25 | — | $120.7M | ||
| Q4 24 | — | $150.4M | ||
| Q3 24 | — | $231.1M | ||
| Q2 24 | — | $229.5M | ||
| Q1 24 | — | $160.6M |
自由现金流率STWDUI
| Q4 25 | — | 31.9% | ||
| Q3 25 | — | 26.3% | ||
| Q2 25 | — | 16.5% | ||
| Q1 25 | — | 18.2% | ||
| Q4 24 | — | 25.1% | ||
| Q3 24 | — | 42.0% | ||
| Q2 24 | — | 45.2% | ||
| Q1 24 | — | 32.6% |
资本支出强度STWDUI
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.7% |
现金转化率STWDUI
| Q4 25 | 5.04× | 1.13× | ||
| Q3 25 | 4.65× | 0.95× | ||
| Q2 25 | -0.67× | 0.49× | ||
| Q1 25 | 2.13× | 0.68× | ||
| Q4 24 | 5.72× | 1.11× | ||
| Q3 24 | 3.18× | 1.83× | ||
| Q2 24 | 0.68× | 2.23× | ||
| Q1 24 | 0.36× | 2.15× |
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
STWD
| Commercial And Residential Lending Segment | $335.2M | 68% |
| Infrastructure Lending Segment | $70.3M | 14% |
| Property Segment | $57.8M | 12% |
| Other | $29.7M | 6% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
