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医疗房产信托（SVC）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
医疗房产信托的季度营收约是USA Compression Partners, LP的1.2倍（$296.5M vs $252.5M），USA Compression Partners, LP净利率更高（11.0% vs -0.3%，领先11.3%），USA Compression Partners, LP同比增速更快（2.7% vs -17.0%），USA Compression Partners, LP自由现金流更多（$87.7M vs $-95.2M），过去两年USA Compression Partners, LP的营收复合增速更高（4.9% 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。
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。
SVC vs USAC — 直观对比
营收规模更大
SVC
是对方的1.2倍
$252.5M
营收增速更快
USAC
高出19.7%
-17.0%
净利率更高
USAC
高出11.3%
-0.3%
自由现金流更多
USAC
多$182.9M
$-95.2M
两年增速更快
USAC
近两年复合增速
-6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $296.5M | $252.5M |
| 净利润 | $-782.0K | $27.8M |
| 毛利率 | — | — |
| 营业利润率 | -3.9% | 30.3% |
| 净利率 | -0.3% | 11.0% |
| 营收同比 | -17.0% | 2.7% |
| 净利润同比 | 99.0% | 9.1% |
| 每股收益（稀释后） | $-0.01 | — |
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SVCUSAC
| Q4 25 | $296.5M | $252.5M | ||
| Q3 25 | $377.6M | $250.3M | ||
| Q2 25 | $404.4M | $250.1M | ||
| Q1 25 | $335.0M | $245.2M | ||
| Q4 24 | $357.0M | $245.9M | ||
| Q3 24 | $390.9M | $240.0M | ||
| Q2 24 | $412.5M | $235.3M | ||
| Q1 24 | $336.2M | $229.3M |
净利润SVCUSAC
| Q4 25 | $-782.0K | $27.8M | ||
| Q3 25 | $-46.9M | $34.5M | ||
| Q2 25 | $-38.2M | $28.6M | ||
| Q1 25 | $-116.4M | $20.5M | ||
| Q4 24 | $-76.4M | $25.4M | ||
| Q3 24 | $-46.9M | $19.3M | ||
| Q2 24 | $-73.8M | $31.2M | ||
| Q1 24 | $-78.4M | $23.6M |
营业利润率SVCUSAC
| Q4 25 | -3.9% | 30.3% | ||
| Q3 25 | -12.8% | 33.5% | ||
| Q2 25 | -9.2% | 30.6% | ||
| Q1 25 | -33.3% | 28.3% | ||
| Q4 24 | -19.4% | 30.3% | ||
| Q3 24 | -12.8% | 31.5% | ||
| Q2 24 | -17.1% | 32.9% | ||
| Q1 24 | -21.4% | 29.2% |
净利率SVCUSAC
| Q4 25 | -0.3% | 11.0% | ||
| Q3 25 | -12.4% | 13.8% | ||
| Q2 25 | -9.4% | 11.4% | ||
| Q1 25 | -34.8% | 8.4% | ||
| Q4 24 | -21.4% | 10.3% | ||
| Q3 24 | -12.0% | 8.1% | ||
| Q2 24 | -17.9% | 13.3% | ||
| Q1 24 | -23.3% | 10.3% |
每股收益（稀释后）SVCUSAC
| Q4 25 | $-0.01 | — | ||
| Q3 25 | $-0.28 | — | ||
| Q2 25 | $-0.23 | — | ||
| Q1 25 | $-0.70 | — | ||
| Q4 24 | $-0.46 | — | ||
| Q3 24 | $-0.28 | — | ||
| Q2 24 | $-0.45 | — | ||
| 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 | $346.8M | $8.6M |
| 总债务越低越好 | $5.5B | $2.5B |
| 股东权益账面价值 | $646.1M | — |
| 总资产 | $6.5B | $2.6B |
| 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SVCUSAC
| Q4 25 | $346.8M | $8.6M | ||
| Q3 25 | $417.4M | — | ||
| Q2 25 | $63.2M | $2.0K | ||
| Q1 25 | $80.1M | $2.0K | ||
| Q4 24 | $143.5M | $14.0K | ||
| Q3 24 | $48.6M | $79.0K | ||
| Q2 24 | $14.6M | $9.0K | ||
| Q1 24 | $71.3M | $8.0K |
总债务SVCUSAC
| Q4 25 | $5.5B | $2.5B | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | $5.8B | $2.5B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | — | $2.5B |
股东权益SVCUSAC
| Q4 25 | $646.1M | — | ||
| Q3 25 | $647.9M | — | ||
| Q2 25 | $695.9M | — | ||
| Q1 25 | $734.6M | — | ||
| Q4 24 | $851.9M | — | ||
| Q3 24 | $929.0M | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.1B | — |
总资产SVCUSAC
| Q4 25 | $6.5B | $2.6B | ||
| Q3 25 | $7.0B | $2.7B | ||
| Q2 25 | $6.9B | $2.7B | ||
| Q1 25 | $7.0B | $2.7B | ||
| Q4 24 | $7.1B | $2.7B | ||
| Q3 24 | $7.1B | $2.8B | ||
| Q2 24 | $7.1B | $2.8B | ||
| Q1 24 | $7.2B | $2.8B |
负债/权益比SVCUSAC
| Q4 25 | 8.52× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.85× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $139.5M |
| 自由现金流经营现金流 - 资本支出 | $-95.2M | $87.7M |
| 自由现金流率自由现金流/营收 | -32.1% | 34.8% |
| 资本支出强度资本支出/营收 | 25.9% | 20.5% |
| 现金转化率经营现金流/净利润 | — | 5.02× |
| 过去12个月自由现金流最近4个季度 | $-107.0M | $277.0M |
8季度趋势，按日历期对齐
经营现金流SVCUSAC
| Q4 25 | $-18.5M | $139.5M | ||
| Q3 25 | $98.1M | $75.9M | ||
| Q2 25 | $-7.0K | $124.2M | ||
| Q1 25 | $38.2M | $54.7M | ||
| Q4 24 | $-9.7M | $130.2M | ||
| Q3 24 | $106.2M | $48.5M | ||
| Q2 24 | $43.8M | $96.7M | ||
| Q1 24 | $-926.0K | $65.9M |
自由现金流SVCUSAC
| Q4 25 | $-95.2M | $87.7M | ||
| Q3 25 | $57.9M | $51.9M | ||
| Q2 25 | $-46.6M | $101.1M | ||
| Q1 25 | $-23.2M | $36.3M | ||
| Q4 24 | $-88.9M | $101.2M | ||
| Q3 24 | $24.1M | $19.8M | ||
| Q2 24 | $-22.3M | $48.2M | ||
| Q1 24 | $-77.2M | $-32.7M |
自由现金流率SVCUSAC
| Q4 25 | -32.1% | 34.8% | ||
| Q3 25 | 15.3% | 20.7% | ||
| Q2 25 | -11.5% | 40.4% | ||
| Q1 25 | -6.9% | 14.8% | ||
| Q4 24 | -24.9% | 41.1% | ||
| Q3 24 | 6.2% | 8.2% | ||
| Q2 24 | -5.4% | 20.5% | ||
| Q1 24 | -23.0% | -14.3% |
资本支出强度SVCUSAC
| Q4 25 | 25.9% | 20.5% | ||
| Q3 25 | 10.6% | 9.6% | ||
| Q2 25 | 11.5% | 9.3% | ||
| Q1 25 | 18.3% | 7.5% | ||
| Q4 24 | 22.2% | 11.8% | ||
| Q3 24 | 21.0% | 12.0% | ||
| Q2 24 | 16.0% | 20.6% | ||
| Q1 24 | 22.7% | 43.0% |
现金转化率SVCUSAC
| Q4 25 | — | 5.02× | ||
| Q3 25 | — | 2.20× | ||
| Q2 25 | — | 4.35× | ||
| Q1 25 | — | 2.66× | ||
| Q4 24 | — | 5.12× | ||
| Q3 24 | — | 2.51× | ||
| Q2 24 | — | 3.10× | ||
| Q1 24 | — | 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
SVC
暂无分部数据
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% |
