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Welltower（WELL）与捷迈邦美（ZBH）财务数据对比。点击上方公司名可切换其他公司
Welltower的季度营收约是捷迈邦美的1.6倍（$3.4B vs $2.1B），Welltower净利率更高（22.4% vs 11.4%，领先11.0%），Welltower同比增速更快（38.3% vs 9.3%），过去两年Welltower的营收复合增速更高（55.1% vs 3.7%）
Welltower Inc.是一家专注于医疗基础设施领域的房地产投资信托企业，核心业务为医疗类地产投资运营。截至2022年12月31日，公司投资的物业总量约3000处，全部布局于美国、加拿大及英国市场，是全球医疗地产投资领域的代表性企业之一。
捷迈邦美是一家美国上市的医疗设备企业，1927年成立，最初以生产铝制夹板为核心业务，总部设于印第安纳州华沙市，是当地医疗设备产业集群的核心成员，在全球骨科医疗器械领域拥有较高知名度。
WELL vs ZBH — 直观对比
营收规模更大
WELL
是对方的1.6倍
$2.1B
营收增速更快
WELL
高出29.0%
9.3%
净利率更高
WELL
高出11.0%
11.4%
两年增速更快
WELL
近两年复合增速
3.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $2.1B |
| 净利润 | $752.3M | $238.3M |
| 毛利率 | — | 64.6% |
| 营业利润率 | — | 17.9% |
| 净利率 | 22.4% | 11.4% |
| 营收同比 | 38.3% | 9.3% |
| 净利润同比 | 192.4% | 30.5% |
| 每股收益（稀释后） | — | $1.22 |
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WELLZBH
| Q1 26 | $3.4B | $2.1B | ||
| Q4 25 | $2.6B | $2.2B | ||
| Q3 25 | $2.1B | $2.0B | ||
| Q2 25 | $2.0B | $2.1B | ||
| Q1 25 | $1.9B | $1.9B | ||
| Q4 24 | $1.8B | $2.0B | ||
| Q3 24 | $1.5B | $1.8B | ||
| Q2 24 | $1.4B | $1.9B |
净利润WELLZBH
| Q1 26 | $752.3M | $238.3M | ||
| Q4 25 | $117.8M | $139.4M | ||
| Q3 25 | $282.2M | $230.9M | ||
| Q2 25 | $304.6M | $152.8M | ||
| Q1 25 | $257.3M | $182.0M | ||
| Q4 24 | $123.8M | $239.5M | ||
| Q3 24 | $456.8M | $249.1M | ||
| Q2 24 | $260.7M | $242.8M |
毛利率WELLZBH
| Q1 26 | — | 64.6% | ||
| Q4 25 | 24.3% | 64.7% | ||
| Q3 25 | 23.5% | 72.1% | ||
| Q2 25 | 23.2% | 71.5% | ||
| Q1 25 | 21.6% | 71.2% | ||
| Q4 24 | 20.0% | 71.0% | ||
| Q3 24 | 19.8% | 70.5% | ||
| Q2 24 | 20.2% | 71.5% |
营业利润率WELLZBH
| Q1 26 | — | 17.9% | ||
| Q4 25 | — | 6.9% | ||
| Q3 25 | 14.2% | 17.6% | ||
| Q2 25 | 15.1% | 14.4% | ||
| Q1 25 | 10.7% | 15.3% | ||
| Q4 24 | 6.2% | 19.2% | ||
| Q3 24 | 12.2% | 15.3% | ||
| Q2 24 | 6.5% | 18.1% |
净利率WELLZBH
| Q1 26 | 22.4% | 11.4% | ||
| Q4 25 | 4.6% | 6.2% | ||
| Q3 25 | 13.7% | 11.5% | ||
| Q2 25 | 15.5% | 7.4% | ||
| Q1 25 | 13.8% | 9.5% | ||
| Q4 24 | 7.0% | 11.8% | ||
| Q3 24 | 30.2% | 13.7% | ||
| Q2 24 | 18.7% | 12.5% |
每股收益（稀释后）WELLZBH
| Q1 26 | — | $1.22 | ||
| Q4 25 | $0.13 | $0.71 | ||
| Q3 25 | $0.41 | $1.16 | ||
| Q2 25 | $0.45 | $0.77 | ||
| Q1 25 | $0.40 | $0.91 | ||
| Q4 24 | $0.20 | $1.18 | ||
| Q3 24 | $0.73 | $1.23 | ||
| Q2 24 | $0.42 | $1.18 |
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 | $4.7B | $424.2M |
| 总债务越低越好 | — | $7.5B |
| 股东权益账面价值 | $44.7B | $12.7B |
| 总资产 | $67.2B | $22.7B |
| 负债/权益比越低杠杆越低 | — | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资WELLZBH
| Q1 26 | $4.7B | $424.2M | ||
| Q4 25 | $5.0B | $591.9M | ||
| Q3 25 | $6.8B | $1.3B | ||
| Q2 25 | $4.4B | $556.9M | ||
| Q1 25 | $3.5B | $1.4B | ||
| Q4 24 | $3.5B | $525.5M | ||
| Q3 24 | $3.6B | $569.0M | ||
| Q2 24 | $2.8B | $420.1M |
总债务WELLZBH
| Q1 26 | — | $7.5B | ||
| Q4 25 | $19.2B | — | ||
| Q3 25 | $16.9B | — | ||
| Q2 25 | $16.0B | — | ||
| Q1 25 | $15.7B | — | ||
| Q4 24 | $15.5B | — | ||
| Q3 24 | $15.8B | — | ||
| Q2 24 | $13.9B | — |
股东权益WELLZBH
| Q1 26 | $44.7B | $12.7B | ||
| Q4 25 | $42.1B | $12.7B | ||
| Q3 25 | $38.8B | $12.8B | ||
| Q2 25 | $35.9B | $12.5B | ||
| Q1 25 | $34.0B | $12.4B | ||
| Q4 24 | $32.0B | $12.5B | ||
| Q3 24 | $30.3B | $12.4B | ||
| Q2 24 | $29.0B | $12.7B |
总资产WELLZBH
| Q1 26 | $67.2B | $22.7B | ||
| Q4 25 | $67.3B | $23.1B | ||
| Q3 25 | $59.5B | $23.5B | ||
| Q2 25 | $55.8B | $22.9B | ||
| Q1 25 | $53.3B | $22.2B | ||
| Q4 24 | $51.0B | $21.4B | ||
| Q3 24 | $49.0B | $21.7B | ||
| Q2 24 | $45.5B | $21.5B |
负债/权益比WELLZBH
| Q1 26 | — | 0.59× | ||
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 0.49× | — | ||
| Q3 24 | 0.52× | — | ||
| Q2 24 | 0.48× | — |
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 | — | $359.4M |
| 自由现金流经营现金流 - 资本支出 | — | $245.9M |
| 自由现金流率自由现金流/营收 | — | 11.8% |
| 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 | — | 1.51× |
| 过去12个月自由现金流最近4个季度 | — | $1.4B |
8季度趋势，按日历期对齐
经营现金流WELLZBH
| Q1 26 | — | $359.4M | ||
| Q4 25 | $654.3M | $517.4M | ||
| Q3 25 | $858.4M | $418.7M | ||
| Q2 25 | $770.0M | $378.2M | ||
| Q1 25 | $599.0M | $382.8M | ||
| Q4 24 | $559.2M | $506.3M | ||
| Q3 24 | $685.0M | $395.7M | ||
| Q2 24 | $605.4M | $369.4M |
自由现金流WELLZBH
| Q1 26 | — | $245.9M | ||
| Q4 25 | $340.4M | $442.6M | ||
| Q3 25 | $595.3M | $363.7M | ||
| Q2 25 | $537.2M | $328.1M | ||
| Q1 25 | $358.6M | $338.2M | ||
| Q4 24 | $240.4M | $454.8M | ||
| Q3 24 | $443.8M | $351.2M | ||
| Q2 24 | $440.3M | $316.7M |
自由现金流率WELLZBH
| Q1 26 | — | 11.8% | ||
| Q4 25 | 13.3% | 19.7% | ||
| Q3 25 | 28.9% | 18.2% | ||
| Q2 25 | 27.3% | 15.8% | ||
| Q1 25 | 19.2% | 17.7% | ||
| Q4 24 | 13.6% | 22.5% | ||
| Q3 24 | 29.4% | 19.3% | ||
| Q2 24 | 31.6% | 16.3% |
资本支出强度WELLZBH
| Q1 26 | — | — | ||
| Q4 25 | 12.3% | 3.3% | ||
| Q3 25 | 12.8% | 2.7% | ||
| Q2 25 | 11.8% | 2.4% | ||
| Q1 25 | 12.9% | 2.3% | ||
| Q4 24 | 18.1% | 2.5% | ||
| Q3 24 | 16.0% | 2.4% | ||
| Q2 24 | 11.8% | 2.7% |
现金转化率WELLZBH
| Q1 26 | — | 1.51× | ||
| Q4 25 | 5.56× | 3.71× | ||
| Q3 25 | 3.04× | 1.81× | ||
| Q2 25 | 2.53× | 2.48× | ||
| Q1 25 | 2.33× | 2.10× | ||
| Q4 24 | 4.52× | 2.11× | ||
| Q3 24 | 1.50× | 1.59× | ||
| Q2 24 | 2.32× | 1.52× |
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
WELL
| Resident fees and services | $2.8B | 83% |
| Rental income | $453.8M | 14% |
| Other | $117.2M | 3% |
ZBH
暂无分部数据
