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医疗房产信托（SVC）与Wheels Up Experience Inc.（UP）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Wheels Up Experience Inc.的1.6倍（$296.5M vs $183.8M），医疗房产信托净利率更高（-0.3% vs -15.7%，领先15.4%），Wheels Up Experience Inc.同比增速更快（-10.2% vs -17.0%），Wheels Up Experience Inc.自由现金流更多（$-58.3M vs $-95.2M），过去两年Wheels Up Experience Inc.的营收复合增速更高（-3.4% vs -6.1%）
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。
Wheels Up是美国领先的按需私人航空服务提供商，也是全球规模最大的私人航空企业之一。公司由肯尼·迪希特创立于2013年，采用会员制按需服务的商业模式，会员可通过移动应用程序，从公司自有机队及第三方运营商处预订私人飞机出行。
SVC vs UP — 直观对比
营收规模更大
SVC
是对方的1.6倍
$183.8M
营收增速更快
UP
高出6.7%
-17.0%
净利率更高
SVC
高出15.4%
-15.7%
自由现金流更多
UP
多$36.9M
$-95.2M
两年增速更快
UP
近两年复合增速
-6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $296.5M | $183.8M |
| 净利润 | $-782.0K | $-28.9M |
| 毛利率 | — | 14.3% |
| 营业利润率 | -3.9% | -0.9% |
| 净利率 | -0.3% | -15.7% |
| 营收同比 | -17.0% | -10.2% |
| 净利润同比 | 99.0% | 67.0% |
| 每股收益（稀释后） | $-0.01 | $-0.04 |
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SVCUP
| Q4 25 | $296.5M | $183.8M | ||
| Q3 25 | $377.6M | $185.5M | ||
| Q2 25 | $404.4M | $189.6M | ||
| Q1 25 | $335.0M | $177.5M | ||
| Q4 24 | $357.0M | $204.8M | ||
| Q3 24 | $390.9M | $193.9M | ||
| Q2 24 | $412.5M | $196.3M | ||
| Q1 24 | $336.2M | $197.1M |
净利润SVCUP
| Q4 25 | $-782.0K | $-28.9M | ||
| Q3 25 | $-46.9M | $-83.7M | ||
| Q2 25 | $-38.2M | $-82.3M | ||
| Q1 25 | $-116.4M | $-99.3M | ||
| Q4 24 | $-76.4M | $-87.5M | ||
| Q3 24 | $-46.9M | $-57.7M | ||
| Q2 24 | $-73.8M | $-97.0M | ||
| Q1 24 | $-78.4M | $-97.4M |
毛利率SVCUP
| Q4 25 | — | 14.3% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | 8.3% | ||
| Q1 25 | — | 10.8% | ||
| Q4 24 | — | 13.9% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | -0.6% |
营业利润率SVCUP
| Q4 25 | -3.9% | -0.9% | ||
| Q3 25 | -12.8% | -33.1% | ||
| Q2 25 | -9.2% | -31.4% | ||
| Q1 25 | -33.3% | -45.5% | ||
| Q4 24 | -19.4% | -26.0% | ||
| Q3 24 | -12.8% | -21.6% | ||
| Q2 24 | -17.1% | -40.3% | ||
| Q1 24 | -21.4% | -42.9% |
净利率SVCUP
| Q4 25 | -0.3% | -15.7% | ||
| Q3 25 | -12.4% | -45.1% | ||
| Q2 25 | -9.4% | -43.4% | ||
| Q1 25 | -34.8% | -55.9% | ||
| Q4 24 | -21.4% | -42.7% | ||
| Q3 24 | -12.0% | -29.8% | ||
| Q2 24 | -17.9% | -49.4% | ||
| Q1 24 | -23.3% | -49.4% |
每股收益（稀释后）SVCUP
| Q4 25 | $-0.01 | $-0.04 | ||
| Q3 25 | $-0.28 | $-0.12 | ||
| Q2 25 | $-0.23 | $-0.12 | ||
| Q1 25 | $-0.70 | $-0.14 | ||
| Q4 24 | $-0.46 | $-0.13 | ||
| Q3 24 | $-0.28 | $-0.08 | ||
| Q2 24 | $-0.45 | $-0.14 | ||
| Q1 24 | $-0.48 | $-0.14 |
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 | $133.9M |
| 总债务越低越好 | $5.5B | $671.3M |
| 股东权益账面价值 | $646.1M | $-392.1M |
| 总资产 | $6.5B | $968.8M |
| 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SVCUP
| Q4 25 | $346.8M | $133.9M | ||
| Q3 25 | $417.4M | $125.3M | ||
| Q2 25 | $63.2M | $107.0M | ||
| Q1 25 | $80.1M | $171.8M | ||
| Q4 24 | $143.5M | $216.4M | ||
| Q3 24 | $48.6M | $115.9M | ||
| Q2 24 | $14.6M | $141.5M | ||
| Q1 24 | $71.3M | $180.9M |
总债务SVCUP
| Q4 25 | $5.5B | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | — | $765.8M | ||
| Q4 24 | $5.8B | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M | ||
| Q1 24 | — | $603.2M |
股东权益SVCUP
| Q4 25 | $646.1M | $-392.1M | ||
| Q3 25 | $647.9M | $-374.5M | ||
| Q2 25 | $695.9M | $-347.8M | ||
| Q1 25 | $734.6M | $-288.1M | ||
| Q4 24 | $851.9M | $-202.1M | ||
| Q3 24 | $929.0M | $-117.7M | ||
| Q2 24 | $1.0B | $-72.2M | ||
| Q1 24 | $1.1B | $936.0K |
总资产SVCUP
| Q4 25 | $6.5B | $968.8M | ||
| Q3 25 | $7.0B | $973.0M | ||
| Q2 25 | $6.9B | $1.0B | ||
| Q1 25 | $7.0B | $1.1B | ||
| Q4 24 | $7.1B | $1.2B | ||
| Q3 24 | $7.1B | $1.0B | ||
| Q2 24 | $7.1B | $1.1B | ||
| Q1 24 | $7.2B | $1.2B |
负债/权益比SVCUP
| Q4 25 | 8.52× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.85× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 644.43× |
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 | $-18.4M |
| 自由现金流经营现金流 - 资本支出 | $-95.2M | $-58.3M |
| 自由现金流率自由现金流/营收 | -32.1% | -31.7% |
| 资本支出强度资本支出/营收 | 25.9% | 21.7% |
| 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 | $-259.9M |
8季度趋势，按日历期对齐
经营现金流SVCUP
| Q4 25 | $-18.5M | $-18.4M | ||
| Q3 25 | $98.1M | $-37.1M | ||
| Q2 25 | $-7.0K | $-62.9M | ||
| Q1 25 | $38.2M | $-47.9M | ||
| Q4 24 | $-9.7M | $37.9M | ||
| Q3 24 | $106.2M | $-16.9M | ||
| Q2 24 | $43.8M | $-25.2M | ||
| Q1 24 | $-926.0K | $-73.8M |
自由现金流SVCUP
| Q4 25 | $-95.2M | $-58.3M | ||
| Q3 25 | $57.9M | $-60.4M | ||
| Q2 25 | $-46.6M | $-78.6M | ||
| Q1 25 | $-23.2M | $-62.6M | ||
| Q4 24 | $-88.9M | $-70.2M | ||
| Q3 24 | $24.1M | $-21.9M | ||
| Q2 24 | $-22.3M | $-30.8M | ||
| Q1 24 | $-77.2M | $-77.8M |
自由现金流率SVCUP
| Q4 25 | -32.1% | -31.7% | ||
| Q3 25 | 15.3% | -32.6% | ||
| Q2 25 | -11.5% | -41.5% | ||
| Q1 25 | -6.9% | -35.3% | ||
| Q4 24 | -24.9% | -34.3% | ||
| Q3 24 | 6.2% | -11.3% | ||
| Q2 24 | -5.4% | -15.7% | ||
| Q1 24 | -23.0% | -39.5% |
资本支出强度SVCUP
| Q4 25 | 25.9% | 21.7% | ||
| Q3 25 | 10.6% | 12.5% | ||
| Q2 25 | 11.5% | 8.3% | ||
| Q1 25 | 18.3% | 8.3% | ||
| Q4 24 | 22.2% | 52.8% | ||
| Q3 24 | 21.0% | 2.6% | ||
| Q2 24 | 16.0% | 2.9% | ||
| Q1 24 | 22.7% | 2.0% |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
