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医疗房产信托（SVC）与WW INTERNATIONAL, INC.（WW）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WW INTERNATIONAL, INC.的1.6倍（$296.5M vs $184.3M），医疗房产信托净利率更高（-0.3% vs -30.5%，领先30.3%），WW INTERNATIONAL, INC.同比增速更快（-4.5% vs -17.0%），WW INTERNATIONAL, INC.自由现金流更多（$8.4M 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 -7.4%）
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。
WW国际前身为慧俪轻体国际，是一家总部位于美国的全球性企业，主营减重与体重管理、健身及心态调整相关服务，核心产品为慧俪轻体综合减重饮食方案。公司由纽约皇后区的家庭主妇珍·妮德奇于1963年创立，截至2019年，其服务包含手机应用及网站线上方案、线上或电话指导、线下见面会三种模式。
SVC vs WW — 直观对比
营收规模更大
SVC
是对方的1.6倍
$184.3M
营收增速更快
WW
高出12.5%
-17.0%
净利率更高
SVC
高出30.3%
-30.5%
自由现金流更多
WW
多$103.6M
$-95.2M
两年增速更快
SVC
近两年复合增速
-7.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $296.5M | $184.3M |
| 净利润 | $-782.0K | $-56.3M |
| 毛利率 | — | 72.2% |
| 营业利润率 | -3.9% | 5.8% |
| 净利率 | -0.3% | -30.5% |
| 营收同比 | -17.0% | -4.5% |
| 净利润同比 | 99.0% | -21.8% |
| 每股收益（稀释后） | $-0.01 | $-5.63 |
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SVCWW
| Q4 25 | $296.5M | — | ||
| Q3 25 | $377.6M | $184.3M | ||
| Q2 25 | $404.4M | — | ||
| Q1 25 | $335.0M | $186.6M | ||
| Q4 24 | $357.0M | $184.4M | ||
| Q3 24 | $390.9M | $192.9M | ||
| Q2 24 | $412.5M | $202.1M | ||
| Q1 24 | $336.2M | $206.5M |
净利润SVCWW
| Q4 25 | $-782.0K | — | ||
| Q3 25 | $-46.9M | $-56.3M | ||
| Q2 25 | $-38.2M | — | ||
| Q1 25 | $-116.4M | $-72.6M | ||
| Q4 24 | $-76.4M | $25.1M | ||
| Q3 24 | $-46.9M | $-46.2M | ||
| Q2 24 | $-73.8M | $23.3M | ||
| Q1 24 | $-78.4M | $-347.9M |
毛利率SVCWW
| Q4 25 | — | — | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 71.2% | ||
| Q4 24 | — | 69.7% | ||
| Q3 24 | — | 67.1% | ||
| Q2 24 | — | 67.9% | ||
| Q1 24 | — | 66.7% |
营业利润率SVCWW
| Q4 25 | -3.9% | — | ||
| Q3 25 | -12.8% | 5.8% | ||
| Q2 25 | -9.2% | — | ||
| Q1 25 | -33.3% | -10.8% | ||
| Q4 24 | -19.4% | 19.6% | ||
| Q3 24 | -12.8% | -20.2% | ||
| Q2 24 | -17.1% | 17.8% | ||
| Q1 24 | -21.4% | -130.4% |
净利率SVCWW
| Q4 25 | -0.3% | — | ||
| Q3 25 | -12.4% | -30.5% | ||
| Q2 25 | -9.4% | — | ||
| Q1 25 | -34.8% | -38.9% | ||
| Q4 24 | -21.4% | 13.6% | ||
| Q3 24 | -12.0% | -23.9% | ||
| Q2 24 | -17.9% | 11.5% | ||
| Q1 24 | -23.3% | -168.4% |
每股收益（稀释后）SVCWW
| Q4 25 | $-0.01 | — | ||
| Q3 25 | $-0.28 | $-5.63 | ||
| Q2 25 | $-0.23 | — | ||
| Q1 25 | $-0.70 | $-0.91 | ||
| Q4 24 | $-0.46 | $0.34 | ||
| Q3 24 | $-0.28 | $-0.58 | ||
| Q2 24 | $-0.45 | $0.29 | ||
| Q1 24 | $-0.48 | $-4.39 |
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 | $170.1M |
| 总债务越低越好 | $5.5B | — |
| 股东权益账面价值 | $646.1M | $323.0M |
| 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SVCWW
| Q4 25 | $346.8M | — | ||
| Q3 25 | $417.4M | $170.1M | ||
| Q2 25 | $63.2M | — | ||
| Q1 25 | $80.1M | $236.3M | ||
| Q4 24 | $143.5M | $53.0M | ||
| Q3 24 | $48.6M | $57.2M | ||
| Q2 24 | $14.6M | $42.7M | ||
| Q1 24 | $71.3M | $66.6M |
总债务SVCWW
| Q4 25 | $5.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $5.8B | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.4B |
股东权益SVCWW
| Q4 25 | $646.1M | — | ||
| Q3 25 | $647.9M | $323.0M | ||
| Q2 25 | $695.9M | — | ||
| Q1 25 | $734.6M | $-1.2B | ||
| Q4 24 | $851.9M | $-1.1B | ||
| Q3 24 | $929.0M | $-1.1B | ||
| Q2 24 | $1.0B | $-1.1B | ||
| Q1 24 | $1.1B | $-1.1B |
总资产SVCWW
| Q4 25 | $6.5B | — | ||
| Q3 25 | $7.0B | $968.8M | ||
| Q2 25 | $6.9B | — | ||
| Q1 25 | $7.0B | $696.9M | ||
| Q4 24 | $7.1B | $550.3M | ||
| Q3 24 | $7.1B | $562.4M | ||
| Q2 24 | $7.1B | $614.3M | ||
| Q1 24 | $7.2B | $654.2M |
负债/权益比SVCWW
| 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 | $8.4M |
| 自由现金流经营现金流 - 资本支出 | $-95.2M | $8.4M |
| 自由现金流率自由现金流/营收 | -32.1% | 4.6% |
| 资本支出强度资本支出/营收 | 25.9% | 0.0% |
| 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 | $44.3M |
8季度趋势，按日历期对齐
经营现金流SVCWW
| Q4 25 | $-18.5M | — | ||
| Q3 25 | $98.1M | $8.4M | ||
| Q2 25 | $-7.0K | — | ||
| Q1 25 | $38.2M | $15.0M | ||
| Q4 24 | $-9.7M | $4.6M | ||
| Q3 24 | $106.2M | $16.5M | ||
| Q2 24 | $43.8M | $-1.9M | ||
| Q1 24 | $-926.0K | $-36.0M |
自由现金流SVCWW
| Q4 25 | $-95.2M | — | ||
| Q3 25 | $57.9M | $8.4M | ||
| Q2 25 | $-46.6M | — | ||
| Q1 25 | $-23.2M | $15.0M | ||
| Q4 24 | $-88.9M | $4.5M | ||
| Q3 24 | $24.1M | $16.4M | ||
| Q2 24 | $-22.3M | $-2.2M | ||
| Q1 24 | $-77.2M | $-36.5M |
自由现金流率SVCWW
| Q4 25 | -32.1% | — | ||
| Q3 25 | 15.3% | 4.6% | ||
| Q2 25 | -11.5% | — | ||
| Q1 25 | -6.9% | 8.0% | ||
| Q4 24 | -24.9% | 2.4% | ||
| Q3 24 | 6.2% | 8.5% | ||
| Q2 24 | -5.4% | -1.1% | ||
| Q1 24 | -23.0% | -17.7% |
资本支出强度SVCWW
| Q4 25 | 25.9% | — | ||
| Q3 25 | 10.6% | 0.0% | ||
| Q2 25 | 11.5% | — | ||
| Q1 25 | 18.3% | 0.0% | ||
| Q4 24 | 22.2% | 0.1% | ||
| Q3 24 | 21.0% | 0.1% | ||
| Q2 24 | 16.0% | 0.1% | ||
| Q1 24 | 22.7% | 0.2% |
现金转化率SVCWW
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.08× | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
