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STARWOOD PROPERTY TRUST, INC.（STWD）与Select Water Solutions, Inc.（WTTR）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Select Water Solutions, Inc.的1.4倍（$492.9M vs $346.5M），STARWOOD PROPERTY TRUST, INC.净利率更高（19.7% vs -0.1%，领先19.8%），STARWOOD PROPERTY TRUST, INC.同比增速更快（8.5% vs -0.7%），过去两年Select Water Solutions, Inc.的营收复合增速更高（-2.8% 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。
Select Water Solutions是一家专注于油气领域的水务及环保解决方案供应商，主要服务北美陆上油气开采市场，核心业务涵盖水资源获取、处理、回收、处置及化学品解决方案，可帮助客户降低运营成本、减少环境影响。
STWD vs WTTR — 直观对比
营收规模更大
STWD
是对方的1.4倍
$346.5M
营收增速更快
STWD
高出9.2%
-0.7%
净利率更高
STWD
高出19.8%
-0.1%
两年增速更快
WTTR
近两年复合增速
-2.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $492.9M | $346.5M |
| 净利润 | $96.9M | $-346.0K |
| 毛利率 | — | 13.1% |
| 营业利润率 | 26.6% | -0.1% |
| 净利率 | 19.7% | -0.1% |
| 营收同比 | 8.5% | -0.7% |
| 净利润同比 | 87.7% | 78.9% |
| 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STWDWTTR
| Q4 25 | $492.9M | $346.5M | ||
| Q3 25 | $488.9M | $322.2M | ||
| Q2 25 | $444.3M | $364.2M | ||
| Q1 25 | $418.2M | $374.4M | ||
| Q4 24 | $454.4M | $349.0M | ||
| Q3 24 | $479.5M | $371.3M | ||
| Q2 24 | $489.8M | $365.1M | ||
| Q1 24 | $523.1M | $366.5M |
净利润STWDWTTR
| Q4 25 | $96.9M | $-346.0K | ||
| Q3 25 | $72.6M | $2.7M | ||
| Q2 25 | $129.8M | $10.6M | ||
| Q1 25 | $112.3M | $8.2M | ||
| Q4 24 | $51.6M | $-1.6M | ||
| Q3 24 | $76.1M | $15.8M | ||
| Q2 24 | $77.9M | $12.9M | ||
| Q1 24 | $154.3M | $3.6M |
毛利率STWDWTTR
| Q4 25 | — | 13.1% | ||
| Q3 25 | — | 13.5% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | 14.9% | ||
| Q4 24 | — | 12.7% | ||
| Q3 24 | — | 16.8% | ||
| Q2 24 | — | 16.5% | ||
| Q1 24 | — | 14.4% |
营业利润率STWDWTTR
| Q4 25 | 26.6% | -0.1% | ||
| Q3 25 | 19.1% | -0.5% | ||
| Q2 25 | 30.5% | 4.2% | ||
| Q1 25 | 28.7% | 4.2% | ||
| Q4 24 | 15.1% | 0.7% | ||
| Q3 24 | 17.2% | 6.6% | ||
| Q2 24 | 19.1% | 5.6% | ||
| Q1 24 | 30.8% | 1.9% |
净利率STWDWTTR
| Q4 25 | 19.7% | -0.1% | ||
| Q3 25 | 14.8% | 0.8% | ||
| Q2 25 | 29.2% | 2.9% | ||
| Q1 25 | 26.8% | 2.2% | ||
| Q4 24 | 11.4% | -0.5% | ||
| Q3 24 | 15.9% | 4.3% | ||
| Q2 24 | 15.9% | 3.5% | ||
| Q1 24 | 29.5% | 1.0% |
每股收益（稀释后）STWDWTTR
| 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 | $18.1M |
| 总债务越低越好 | — | $320.0M |
| 股东权益账面价值 | $6.8B | $805.6M |
| 总资产 | $63.2B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.40× |
8季度趋势，按日历期对齐
现金及短期投资STWDWTTR
| Q4 25 | $499.5M | $18.1M | ||
| Q3 25 | $301.1M | $17.8M | ||
| Q2 25 | $259.9M | $51.2M | ||
| Q1 25 | $440.6M | $27.9M | ||
| Q4 24 | $377.8M | $20.0M | ||
| Q3 24 | $357.9M | $10.9M | ||
| Q2 24 | $259.3M | $16.4M | ||
| Q1 24 | $327.4M | $12.8M |
总债务STWDWTTR
| Q4 25 | — | $320.0M | ||
| Q3 25 | — | $305.0M | ||
| Q2 25 | — | $275.0M | ||
| Q1 25 | — | $250.0M | ||
| Q4 24 | — | $85.0M | ||
| Q3 24 | — | $80.0M | ||
| Q2 24 | — | $90.0M | ||
| Q1 24 | — | $75.0M |
股东权益STWDWTTR
| Q4 25 | $6.8B | $805.6M | ||
| Q3 25 | $6.9B | $808.1M | ||
| Q2 25 | $6.4B | $799.3M | ||
| Q1 25 | $6.4B | $793.1M | ||
| Q4 24 | $6.4B | $793.5M | ||
| Q3 24 | $6.5B | $796.5M | ||
| Q2 24 | $6.2B | $782.0M | ||
| Q1 24 | $6.3B | $770.0M |
总资产STWDWTTR
| Q4 25 | $63.2B | $1.6B | ||
| Q3 25 | $62.4B | $1.6B | ||
| Q2 25 | $62.4B | $1.5B | ||
| Q1 25 | $62.2B | $1.5B | ||
| Q4 24 | $62.6B | $1.4B | ||
| Q3 24 | $64.2B | $1.3B | ||
| Q2 24 | $64.1B | $1.3B | ||
| Q1 24 | $66.2B | $1.3B |
负债/权益比STWDWTTR
| Q4 25 | — | 0.40× | ||
| Q3 25 | — | 0.38× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.10× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.10× |
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 | $65.5M |
| 自由现金流经营现金流 - 资本支出 | — | $-6.0M |
| 自由现金流率自由现金流/营收 | — | -1.7% |
| 资本支出强度资本支出/营收 | — | 20.6% |
| 现金转化率经营现金流/净利润 | 5.04× | — |
| 过去12个月自由现金流最近4个季度 | — | $-79.9M |
8季度趋势，按日历期对齐
经营现金流STWDWTTR
| Q4 25 | $488.8M | $65.5M | ||
| Q3 25 | $337.6M | $71.7M | ||
| Q2 25 | $-87.4M | $82.6M | ||
| Q1 25 | $238.9M | $-5.1M | ||
| Q4 24 | $295.6M | $67.8M | ||
| Q3 24 | $241.8M | $51.9M | ||
| Q2 24 | $53.3M | $83.1M | ||
| Q1 24 | $55.9M | $32.1M |
自由现金流STWDWTTR
| Q4 25 | — | $-6.0M | ||
| Q3 25 | — | $-23.5M | ||
| Q2 25 | — | $3.2M | ||
| Q1 25 | — | $-53.5M | ||
| Q4 24 | — | $12.7M | ||
| Q3 24 | — | $16.7M | ||
| Q2 24 | — | $34.0M | ||
| Q1 24 | — | $-1.6M |
自由现金流率STWDWTTR
| Q4 25 | — | -1.7% | ||
| Q3 25 | — | -7.3% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | -14.3% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | — | 9.3% | ||
| Q1 24 | — | -0.4% |
资本支出强度STWDWTTR
| Q4 25 | — | 20.6% | ||
| Q3 25 | — | 29.6% | ||
| Q2 25 | — | 21.8% | ||
| Q1 25 | — | 12.9% | ||
| Q4 24 | — | 15.8% | ||
| Q3 24 | — | 9.5% | ||
| Q2 24 | — | 13.5% | ||
| Q1 24 | — | 9.2% |
现金转化率STWDWTTR
| Q4 25 | 5.04× | — | ||
| Q3 25 | 4.65× | 26.72× | ||
| Q2 25 | -0.67× | 7.76× | ||
| Q1 25 | 2.13× | -0.61× | ||
| Q4 24 | 5.72× | — | ||
| Q3 24 | 3.18× | 3.29× | ||
| Q2 24 | 0.68× | 6.46× | ||
| Q1 24 | 0.36× | 8.86× |
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% |
WTTR
| Water Services | $178.3M | 51% |
| Marcellus Utica | $38.6M | 11% |
| Rockies | $38.3M | 11% |
| Eagle Ford | $28.2M | 8% |
| Midcon | $23.0M | 7% |
| Haynesville E.Texas | $19.1M | 6% |
| Bakken | $17.3M | 5% |
| Eliminations And Other Geographical Regions | $3.6M | 1% |
