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VORNADO REALTY TRUST（VNO）与W. P. Carey Inc.（WPC）财务数据对比。点击上方公司名可切换其他公司
VORNADO REALTY TRUST的季度营收约是W. P. Carey Inc.的1.0倍（$453.7M vs $444.5M），W. P. Carey Inc.净利率更高（33.4% vs 1.1%，领先32.3%），W. P. Carey Inc.同比增速更快（9.4% vs -0.9%），过去两年W. P. Carey Inc.的营收复合增速更高（6.8% vs 2.0%）
Vornado Realty Trust是1982年于美国马里兰州注册成立的房地产投资信托，总部设立在纽约市，核心业务为投资曼哈顿核心区域的优质写字楼及临街零售商业地产，是纽约当地颇具影响力的商业地产投资运营机构。
W.P.凯里是一家房地产投资信托企业，主打投资以三净租赁模式租予单一租户的物业。公司注册地位于美国马里兰州，核心办公地点设在纽约市，深耕商业地产投资领域，拥有成熟的运营经验与优质的项目资源。
VNO vs WPC — 直观对比
营收规模更大
VNO
是对方的1.0倍
$444.5M
营收增速更快
WPC
高出10.3%
-0.9%
净利率更高
WPC
高出32.3%
1.1%
两年增速更快
WPC
近两年复合增速
2.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $453.7M | $444.5M |
| 净利润 | $4.9M | $148.3M |
| 毛利率 | — | — |
| 营业利润率 | 2.8% | 34.5% |
| 净利率 | 1.1% | 33.4% |
| 营收同比 | -0.9% | 9.4% |
| 净利润同比 | -14.7% | 215.4% |
| 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VNOWPC
| Q4 25 | $453.7M | $444.5M | ||
| Q3 25 | $453.7M | $431.3M | ||
| Q2 25 | $441.4M | $430.8M | ||
| Q1 25 | $461.6M | $409.9M | ||
| Q4 24 | $457.8M | $406.2M | ||
| Q3 24 | $443.3M | $397.4M | ||
| Q2 24 | $450.3M | $389.7M | ||
| Q1 24 | $436.4M | $389.8M |
净利润VNOWPC
| Q4 25 | $4.9M | $148.3M | ||
| Q3 25 | $27.1M | $141.0M | ||
| Q2 25 | $759.3M | $51.2M | ||
| Q1 25 | $102.4M | $125.8M | ||
| Q4 24 | $5.8M | $47.0M | ||
| Q3 24 | $-3.6M | $111.7M | ||
| Q2 24 | $50.8M | $142.9M | ||
| Q1 24 | $6.5M | $159.2M |
营业利润率VNOWPC
| Q4 25 | 2.8% | 34.5% | ||
| Q3 25 | 3.0% | 34.7% | ||
| Q2 25 | — | 15.0% | ||
| Q1 25 | 23.2% | 33.5% | ||
| Q4 24 | 2.5% | 13.5% | ||
| Q3 24 | -3.3% | 30.4% | ||
| Q2 24 | 10.1% | 38.3% | ||
| Q1 24 | 0.1% | 43.0% |
净利率VNOWPC
| Q4 25 | 1.1% | 33.4% | ||
| Q3 25 | 6.0% | 32.7% | ||
| Q2 25 | 172.0% | 11.9% | ||
| Q1 25 | 22.2% | 30.7% | ||
| Q4 24 | 1.3% | 11.6% | ||
| Q3 24 | -0.8% | 28.1% | ||
| Q2 24 | 11.3% | 36.7% | ||
| Q1 24 | 1.5% | 40.8% |
每股收益（稀释后）VNOWPC
| Q4 25 | $0.01 | — | ||
| Q3 25 | $0.06 | — | ||
| Q2 25 | $3.70 | — | ||
| Q1 25 | $0.43 | — | ||
| Q4 24 | $0.01 | — | ||
| Q3 24 | $-0.10 | — | ||
| Q2 24 | $0.18 | — | ||
| Q1 24 | $-0.05 | — |
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 | $840.9M | $155.3M |
| 总债务越低越好 | $2.3B | $8.7B |
| 股东权益账面价值 | $6.0B | $8.1B |
| 总资产 | $15.5B | $18.0B |
| 负债/权益比越低杠杆越低 | 0.38× | 1.07× |
8季度趋势，按日历期对齐
现金及短期投资VNOWPC
| Q4 25 | $840.9M | $155.3M | ||
| Q3 25 | $1.0B | $249.0M | ||
| Q2 25 | $1.2B | $244.8M | ||
| Q1 25 | $568.9M | $187.8M | ||
| Q4 24 | $733.9M | $640.4M | ||
| Q3 24 | $783.6M | $818.2M | ||
| Q2 24 | $872.6M | $1.1B | ||
| Q1 24 | $892.7M | $777.0M |
总债务VNOWPC
| Q4 25 | $2.3B | $8.7B | ||
| Q3 25 | $2.3B | $8.7B | ||
| Q2 25 | $2.1B | $8.6B | ||
| Q1 25 | $2.1B | $7.9B | ||
| Q4 24 | $2.6B | $8.0B | ||
| Q3 24 | $2.6B | $8.0B | ||
| Q2 24 | $2.6B | $8.1B | ||
| Q1 24 | $2.6B | $7.9B |
股东权益VNOWPC
| Q4 25 | $6.0B | $8.1B | ||
| Q3 25 | $6.1B | $8.2B | ||
| Q2 25 | $6.1B | $8.2B | ||
| Q1 25 | $5.3B | $8.4B | ||
| Q4 24 | $5.2B | $8.4B | ||
| Q3 24 | $5.3B | $8.6B | ||
| Q2 24 | $5.6B | $8.6B | ||
| Q1 24 | $5.5B | $8.7B |
总资产VNOWPC
| Q4 25 | $15.5B | $18.0B | ||
| Q3 25 | $15.7B | $18.0B | ||
| Q2 25 | $15.6B | $18.0B | ||
| Q1 25 | $15.6B | $17.3B | ||
| Q4 24 | $16.0B | $17.5B | ||
| Q3 24 | $16.1B | $17.6B | ||
| Q2 24 | $16.2B | $17.8B | ||
| Q1 24 | $16.2B | $17.6B |
负债/权益比VNOWPC
| Q4 25 | 0.38× | 1.07× | ||
| Q3 25 | 0.37× | 1.06× | ||
| Q2 25 | 0.35× | 1.05× | ||
| Q1 25 | 0.40× | 0.94× | ||
| Q4 24 | 0.50× | 0.95× | ||
| Q3 24 | 0.49× | 0.93× | ||
| Q2 24 | 0.46× | 0.94× | ||
| Q1 24 | 0.46× | 0.91× |
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 | $1.3B | $304.6M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 256.08× | 2.05× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流VNOWPC
| Q4 25 | $1.3B | $304.6M | ||
| Q3 25 | $33.2M | $300.5M | ||
| Q2 25 | $1.0B | $404.0M | ||
| Q1 25 | $52.0M | $273.2M | ||
| Q4 24 | $537.7M | $296.3M | ||
| Q3 24 | $105.4M | $280.2M | ||
| Q2 24 | $194.7M | $221.0M | ||
| Q1 24 | $31.5M | $1.0B |
现金转化率VNOWPC
| Q4 25 | 256.08× | 2.05× | ||
| Q3 25 | 1.22× | 2.13× | ||
| Q2 25 | 1.35× | 7.89× | ||
| Q1 25 | 0.51× | 2.17× | ||
| Q4 24 | 93.39× | 6.30× | ||
| Q3 24 | — | 2.51× | ||
| Q2 24 | 3.83× | 1.55× | ||
| Q1 24 | 4.85× | 6.50× |
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
VNO
| New York Segment | $374.8M | 83% |
| Building Maintenance Service | $41.2M | 9% |
| Other | $27.7M | 6% |
| Tenant Services | $11.1M | 2% |
| Management And Leasing Fees | $2.6M | 1% |
WPC
暂无分部数据
