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医疗房产信托（SVC）与Thryv Holdings, Inc.（THRY）财务数据对比。点击上方公司名可切换其他公司
医疗房产信托的季度营收约是Thryv Holdings, Inc.的1.8倍（$296.5M vs $167.7M），Thryv Holdings, Inc.净利率更高（2.7% vs -0.3%，领先3.0%），Thryv Holdings, Inc.同比增速更快（-7.5% vs -17.0%），Thryv Holdings, Inc.自由现金流更多（$-5.5M vs $-95.2M），过去两年医疗房产信托的营收复合增速更高（-6.1% vs -13.5%）
医疗房产信托（MPT）是总部位于阿拉巴马州伯明翰的国际房地产投资信托（REIT），主要在美国和欧洲地区收购投资医疗设施与营利性医疗控股公司。该公司的房产收购多采用售后回租模式，原产权方出售房产给MPT后成为承租租户，其租户普遍签订长期三净租约。
Thryv Holdings, Inc.是一家上市软件服务（SaaS）企业，面向中小企业提供客户关系管理与网络声誉管理软件解决方案。公司总部位于得克萨斯州达拉斯，业务覆盖美国48个州，现有员工超过2400名，其前身是多家黄页企业组成的集团。
SVC vs THRY — 直观对比
营收规模更大
SVC
是对方的1.8倍
$167.7M
营收增速更快
THRY
高出9.4%
-17.0%
净利率更高
THRY
高出3.0%
-0.3%
自由现金流更多
THRY
多$89.7M
$-95.2M
两年增速更快
SVC
近两年复合增速
-13.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $296.5M | $167.7M |
| 净利润 | $-782.0K | $4.5M |
| 毛利率 | — | 65.2% |
| 营业利润率 | -3.9% | 37.3% |
| 净利率 | -0.3% | 2.7% |
| 营收同比 | -17.0% | -7.5% |
| 净利润同比 | 99.0% | 147.2% |
| 每股收益（稀释后） | $-0.01 | $0.10 |
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SVCTHRY
| Q1 26 | — | $167.7M | ||
| Q4 25 | $296.5M | $191.6M | ||
| Q3 25 | $377.6M | $201.6M | ||
| Q2 25 | $404.4M | $210.5M | ||
| Q1 25 | $335.0M | $181.4M | ||
| Q4 24 | $357.0M | $186.6M | ||
| Q3 24 | $390.9M | $179.9M | ||
| Q2 24 | $412.5M | $224.1M |
净利润SVCTHRY
| Q1 26 | — | $4.5M | ||
| Q4 25 | $-782.0K | $-9.7M | ||
| Q3 25 | $-46.9M | $5.7M | ||
| Q2 25 | $-38.2M | $13.9M | ||
| Q1 25 | $-116.4M | $-9.6M | ||
| Q4 24 | $-76.4M | $7.9M | ||
| Q3 24 | $-46.9M | $-96.1M | ||
| Q2 24 | $-73.8M | $5.5M |
毛利率SVCTHRY
| Q1 26 | — | 65.2% | ||
| Q4 25 | — | 68.0% | ||
| Q3 25 | — | 67.7% | ||
| Q2 25 | — | 69.7% | ||
| Q1 25 | — | 65.8% | ||
| Q4 24 | — | 65.9% | ||
| Q3 24 | — | 62.3% | ||
| Q2 24 | — | 66.3% |
营业利润率SVCTHRY
| Q1 26 | — | 37.3% | ||
| Q4 25 | -3.9% | 5.3% | ||
| Q3 25 | -12.8% | 9.9% | ||
| Q2 25 | -9.2% | 14.0% | ||
| Q1 25 | -33.3% | -1.7% | ||
| Q4 24 | -19.4% | -3.9% | ||
| Q3 24 | -12.8% | -49.2% | ||
| Q2 24 | -17.1% | 14.0% |
净利率SVCTHRY
| Q1 26 | — | 2.7% | ||
| Q4 25 | -0.3% | -5.0% | ||
| Q3 25 | -12.4% | 2.8% | ||
| Q2 25 | -9.4% | 6.6% | ||
| Q1 25 | -34.8% | -5.3% | ||
| Q4 24 | -21.4% | 4.2% | ||
| Q3 24 | -12.0% | -53.4% | ||
| Q2 24 | -17.9% | 2.5% |
每股收益（稀释后）SVCTHRY
| Q1 26 | — | $0.10 | ||
| Q4 25 | $-0.01 | $-0.21 | ||
| Q3 25 | $-0.28 | $0.13 | ||
| Q2 25 | $-0.23 | $0.31 | ||
| Q1 25 | $-0.70 | $-0.22 | ||
| Q4 24 | $-0.46 | $0.28 | ||
| Q3 24 | $-0.28 | $-2.65 | ||
| Q2 24 | $-0.45 | $0.15 |
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 | $346.8M | $8.0M |
| 总债务越低越好 | $5.5B | — |
| 股东权益账面价值 | $646.1M | $225.4M |
| 总资产 | $6.5B | $693.7M |
| 负债/权益比越低杠杆越低 | 8.52× | — |
8季度趋势，按日历期对齐
现金及短期投资SVCTHRY
| Q1 26 | — | $8.0M | ||
| Q4 25 | $346.8M | $10.8M | ||
| Q3 25 | $417.4M | $11.6M | ||
| Q2 25 | $63.2M | $10.8M | ||
| Q1 25 | $80.1M | $11.0M | ||
| Q4 24 | $143.5M | $16.3M | ||
| Q3 24 | $48.6M | $12.5M | ||
| Q2 24 | $14.6M | $15.5M |
总债务SVCTHRY
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $253.5M | ||
| Q3 25 | — | $268.2M | ||
| Q2 25 | — | $275.6M | ||
| Q1 25 | — | $299.0M | ||
| Q4 24 | $5.8B | $284.3M | ||
| Q3 24 | — | $307.8M | ||
| Q2 24 | — | $342.1M |
股东权益SVCTHRY
| Q1 26 | — | $225.4M | ||
| Q4 25 | $646.1M | $218.1M | ||
| Q3 25 | $647.9M | $221.1M | ||
| Q2 25 | $695.9M | $214.9M | ||
| Q1 25 | $734.6M | $193.2M | ||
| Q4 24 | $851.9M | $196.9M | ||
| Q3 24 | $929.0M | $94.5M | ||
| Q2 24 | $1.0B | $183.1M |
总资产SVCTHRY
| Q1 26 | — | $693.7M | ||
| Q4 25 | $6.5B | $688.6M | ||
| Q3 25 | $7.0B | $701.8M | ||
| Q2 25 | $6.9B | $687.7M | ||
| Q1 25 | $7.0B | $703.7M | ||
| Q4 24 | $7.1B | $712.2M | ||
| Q3 24 | $7.1B | $654.8M | ||
| Q2 24 | $7.1B | $785.5M |
负债/权益比SVCTHRY
| Q1 26 | — | — | ||
| Q4 25 | 8.52× | 1.16× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | — | 1.28× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | 6.85× | 1.44× | ||
| Q3 24 | — | 3.26× | ||
| Q2 24 | — | 1.87× |
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 | $-18.5M | — |
| 自由现金流经营现金流 - 资本支出 | $-95.2M | $-5.5M |
| 自由现金流率自由现金流/营收 | -32.1% | -3.3% |
| 资本支出强度资本支出/营收 | 25.9% | — |
| 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 | $-107.0M | $43.3M |
8季度趋势，按日历期对齐
经营现金流SVCTHRY
| Q1 26 | — | — | ||
| Q4 25 | $-18.5M | $22.2M | ||
| Q3 25 | $98.1M | $22.2M | ||
| Q2 25 | $-7.0K | $29.6M | ||
| Q1 25 | $38.2M | $-10.5M | ||
| Q4 24 | $-9.7M | $26.1M | ||
| Q3 24 | $106.2M | $36.0M | ||
| Q2 24 | $43.8M | $22.2M |
自由现金流SVCTHRY
| Q1 26 | — | $-5.5M | ||
| Q4 25 | $-95.2M | $12.3M | ||
| Q3 25 | $57.9M | $14.6M | ||
| Q2 25 | $-46.6M | $21.8M | ||
| Q1 25 | $-23.2M | $-17.6M | ||
| Q4 24 | $-88.9M | $17.3M | ||
| Q3 24 | $24.1M | $27.5M | ||
| Q2 24 | $-22.3M | $13.3M |
自由现金流率SVCTHRY
| Q1 26 | — | -3.3% | ||
| Q4 25 | -32.1% | 6.4% | ||
| Q3 25 | 15.3% | 7.2% | ||
| Q2 25 | -11.5% | 10.4% | ||
| Q1 25 | -6.9% | -9.7% | ||
| Q4 24 | -24.9% | 9.3% | ||
| Q3 24 | 6.2% | 15.3% | ||
| Q2 24 | -5.4% | 5.9% |
资本支出强度SVCTHRY
| Q1 26 | — | — | ||
| Q4 25 | 25.9% | 5.2% | ||
| Q3 25 | 10.6% | 3.8% | ||
| Q2 25 | 11.5% | 3.7% | ||
| Q1 25 | 18.3% | 3.9% | ||
| Q4 24 | 22.2% | 4.7% | ||
| Q3 24 | 21.0% | 4.7% | ||
| Q2 24 | 16.0% | 4.0% |
现金转化率SVCTHRY
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 3.93× | ||
| Q2 25 | — | 2.12× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.32× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 4.01× |
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
SVC
暂无分部数据
THRY
| SaaS | $116.7M | 70% |
| Other | $50.9M | 30% |
