vs
STARWOOD PROPERTY TRUST, INC.（STWD）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
STARWOOD PROPERTY TRUST, INC.的季度营收约是USA Compression Partners, LP的2.0倍（$492.9M vs $252.5M），STARWOOD PROPERTY TRUST, INC.净利率更高（19.7% vs 11.0%，领先8.7%），STARWOOD PROPERTY TRUST, INC.同比增速更快（8.5% vs 2.7%），过去两年USA Compression Partners, LP的营收复合增速更高（4.9% 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。
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。
STWD vs USAC — 直观对比
营收规模更大
STWD
是对方的2.0倍
$252.5M
营收增速更快
STWD
高出5.8%
2.7%
净利率更高
STWD
高出8.7%
11.0%
两年增速更快
USAC
近两年复合增速
-2.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $492.9M | $252.5M |
| 净利润 | $96.9M | $27.8M |
| 毛利率 | — | — |
| 营业利润率 | 26.6% | 30.3% |
| 净利率 | 19.7% | 11.0% |
| 营收同比 | 8.5% | 2.7% |
| 净利润同比 | 87.7% | 9.1% |
| 每股收益（稀释后） | $0.25 | — |
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STWDUSAC
| Q4 25 | $492.9M | $252.5M | ||
| Q3 25 | $488.9M | $250.3M | ||
| Q2 25 | $444.3M | $250.1M | ||
| Q1 25 | $418.2M | $245.2M | ||
| Q4 24 | $454.4M | $245.9M | ||
| Q3 24 | $479.5M | $240.0M | ||
| Q2 24 | $489.8M | $235.3M | ||
| Q1 24 | $523.1M | $229.3M |
净利润STWDUSAC
| Q4 25 | $96.9M | $27.8M | ||
| Q3 25 | $72.6M | $34.5M | ||
| Q2 25 | $129.8M | $28.6M | ||
| Q1 25 | $112.3M | $20.5M | ||
| Q4 24 | $51.6M | $25.4M | ||
| Q3 24 | $76.1M | $19.3M | ||
| Q2 24 | $77.9M | $31.2M | ||
| Q1 24 | $154.3M | $23.6M |
营业利润率STWDUSAC
| Q4 25 | 26.6% | 30.3% | ||
| Q3 25 | 19.1% | 33.5% | ||
| Q2 25 | 30.5% | 30.6% | ||
| Q1 25 | 28.7% | 28.3% | ||
| Q4 24 | 15.1% | 30.3% | ||
| Q3 24 | 17.2% | 31.5% | ||
| Q2 24 | 19.1% | 32.9% | ||
| Q1 24 | 30.8% | 29.2% |
净利率STWDUSAC
| Q4 25 | 19.7% | 11.0% | ||
| Q3 25 | 14.8% | 13.8% | ||
| Q2 25 | 29.2% | 11.4% | ||
| Q1 25 | 26.8% | 8.4% | ||
| Q4 24 | 11.4% | 10.3% | ||
| Q3 24 | 15.9% | 8.1% | ||
| Q2 24 | 15.9% | 13.3% | ||
| Q1 24 | 29.5% | 10.3% |
每股收益（稀释后）STWDUSAC
| Q4 25 | $0.25 | — | ||
| Q3 25 | $0.19 | — | ||
| Q2 25 | $0.38 | — | ||
| Q1 25 | $0.33 | — | ||
| Q4 24 | $0.15 | — | ||
| Q3 24 | $0.23 | — | ||
| Q2 24 | $0.24 | — | ||
| Q1 24 | $0.48 | — |
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 | $8.6M |
| 总债务越低越好 | — | $2.5B |
| 股东权益账面价值 | $6.8B | — |
| 总资产 | $63.2B | $2.6B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资STWDUSAC
| Q4 25 | $499.5M | $8.6M | ||
| Q3 25 | $301.1M | — | ||
| Q2 25 | $259.9M | $2.0K | ||
| Q1 25 | $440.6M | $2.0K | ||
| Q4 24 | $377.8M | $14.0K | ||
| Q3 24 | $357.9M | $79.0K | ||
| Q2 24 | $259.3M | $9.0K | ||
| Q1 24 | $327.4M | $8.0K |
总债务STWDUSAC
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | — | $2.5B |
股东权益STWDUSAC
| Q4 25 | $6.8B | — | ||
| Q3 25 | $6.9B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.4B | — | ||
| Q4 24 | $6.4B | — | ||
| Q3 24 | $6.5B | — | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.3B | — |
总资产STWDUSAC
| Q4 25 | $63.2B | $2.6B | ||
| Q3 25 | $62.4B | $2.7B | ||
| Q2 25 | $62.4B | $2.7B | ||
| Q1 25 | $62.2B | $2.7B | ||
| Q4 24 | $62.6B | $2.7B | ||
| Q3 24 | $64.2B | $2.8B | ||
| Q2 24 | $64.1B | $2.8B | ||
| Q1 24 | $66.2B | $2.8B |
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 | $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 | 5.04× | 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STWDUSAC
| Q4 25 | $488.8M | $139.5M | ||
| Q3 25 | $337.6M | $75.9M | ||
| Q2 25 | $-87.4M | $124.2M | ||
| Q1 25 | $238.9M | $54.7M | ||
| Q4 24 | $295.6M | $130.2M | ||
| Q3 24 | $241.8M | $48.5M | ||
| Q2 24 | $53.3M | $96.7M | ||
| Q1 24 | $55.9M | $65.9M |
自由现金流STWDUSAC
| 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STWDUSAC
| 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STWDUSAC
| 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STWDUSAC
| Q4 25 | 5.04× | 5.02× | ||
| Q3 25 | 4.65× | 2.20× | ||
| Q2 25 | -0.67× | 4.35× | ||
| Q1 25 | 2.13× | 2.66× | ||
| Q4 24 | 5.72× | 5.12× | ||
| Q3 24 | 3.18× | 2.51× | ||
| Q2 24 | 0.68× | 3.10× | ||
| Q1 24 | 0.36× | 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
STWD
| Commercial And Residential Lending Segment | $335.2M | 68% |
| Infrastructure Lending Segment | $70.3M | 14% |
| Property Segment | $57.8M | 12% |
| Other | $29.7M | 6% |
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% |
