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Armada Hoffler Properties, Inc.（AHH）与BXP, Inc.（BXP）财务数据对比。点击上方公司名可切换其他公司
BXP, Inc.的季度营收约是Armada Hoffler Properties, Inc.的11.6倍（$877.1M vs $75.6M）。BXP, Inc.净利率更高（28.3% vs 3.1%，领先25.2%）。BXP, Inc.同比增速更快（2.2% vs 0.8%）。过去两年BXP, Inc.的营收复合增速更高（2.2% vs -22.8%）
Armada Hoffler Properties是一家公开上市的房地产投资信托，业务覆盖美国大西洋中部及东南部地区，开发、持有并运营涵盖办公、零售、多户住宅的多元化优质物业组合，同时为第三方客户提供全链条建筑开发服务。
BXP是美国头部商业地产投资信托企业，核心业务为持有、运营及开发A级高端写字楼资产，项目覆盖纽约、波士顿、旧金山等美国核心都市圈，服务企业、科技、专业服务等领域的多元租户。
AHH vs BXP — 直观对比
营收规模更大
BXP
是对方的11.6倍
$75.6M
营收增速更快
BXP
高出1.4%
0.8%
净利率更高
BXP
高出25.2%
3.1%
两年增速更快
BXP
近两年复合增速
-22.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $75.6M | $877.1M |
| 净利润 | $2.4M | $248.4M |
| 毛利率 | — | 58.8% |
| 营业利润率 | 31.0% | — |
| 净利率 | 3.1% | 28.3% |
| 营收同比 | 0.8% | 2.2% |
| 净利润同比 | -89.8% | 208.5% |
| 每股收益（稀释后） | $0.00 | $1.56 |
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AHHBXP
| Q4 25 | $75.6M | $877.1M | ||
| Q3 25 | $23.2M | $871.5M | ||
| Q2 25 | $32.0M | $868.5M | ||
| Q1 25 | $46.6M | $865.2M | ||
| Q4 24 | $75.0M | $858.6M | ||
| Q3 24 | $114.4M | $859.2M | ||
| Q2 24 | $116.8M | $850.5M | ||
| Q1 24 | $127.0M | $839.4M |
净利润AHHBXP
| Q4 25 | $2.4M | $248.4M | ||
| Q3 25 | $80.0K | $-121.7M | ||
| Q2 25 | $5.9M | $89.0M | ||
| Q1 25 | $-2.8M | $61.2M | ||
| Q4 24 | $23.4M | $-228.9M | ||
| Q3 24 | $-5.0M | $83.6M | ||
| Q2 24 | $3.2M | $79.6M | ||
| Q1 24 | $14.1M | $79.9M |
毛利率AHHBXP
| Q4 25 | — | 58.8% | ||
| Q3 25 | — | 59.3% | ||
| Q2 25 | — | 59.2% | ||
| Q1 25 | — | 59.2% | ||
| Q4 24 | — | 59.7% | ||
| Q3 24 | 45.0% | 59.5% | ||
| Q2 24 | 41.8% | 59.8% | ||
| Q1 24 | 37.9% | 60.6% |
营业利润率AHHBXP
| Q4 25 | 31.0% | — | ||
| Q3 25 | 91.5% | — | ||
| Q2 25 | 63.9% | — | ||
| Q1 25 | 33.8% | — | ||
| Q4 24 | 50.1% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 11.9% | — | ||
| Q1 24 | 15.1% | — |
净利率AHHBXP
| Q4 25 | 3.1% | 28.3% | ||
| Q3 25 | 0.3% | -14.0% | ||
| Q2 25 | 18.6% | 10.2% | ||
| Q1 25 | -6.0% | 7.1% | ||
| Q4 24 | 31.2% | -26.7% | ||
| Q3 24 | -4.4% | 9.7% | ||
| Q2 24 | 2.7% | 9.4% | ||
| Q1 24 | 11.1% | 9.5% |
每股收益（稀释后）AHHBXP
| Q4 25 | $0.00 | $1.56 | ||
| Q3 25 | $-0.04 | $-0.77 | ||
| Q2 25 | $0.04 | $0.56 | ||
| Q1 25 | $-0.07 | $0.39 | ||
| Q4 24 | $0.28 | $-1.46 | ||
| Q3 24 | $-0.11 | $0.53 | ||
| Q2 24 | $0.00 | $0.51 | ||
| Q1 24 | $0.17 | $0.51 |
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 | $49.1M | $1.5B |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $627.8M | $5.1B |
| 总资产 | $2.6B | $26.2B |
| 负债/权益比越低杠杆越低 | 2.43× | — |
8季度趋势，按日历期对齐
现金及短期投资AHHBXP
| Q4 25 | $49.1M | $1.5B | ||
| Q3 25 | $46.5M | $861.1M | ||
| Q2 25 | $52.1M | $447.0M | ||
| Q1 25 | $45.7M | $398.1M | ||
| Q4 24 | $31.9M | $1.3B | ||
| Q3 24 | $43.9M | $1.4B | ||
| Q2 24 | $20.3M | $685.4M | ||
| Q1 24 | $41.9M | $701.7M |
总债务AHHBXP
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
股东权益AHHBXP
| Q4 25 | $627.8M | $5.1B | ||
| Q3 25 | $638.8M | $5.0B | ||
| Q2 25 | $652.0M | $5.3B | ||
| Q1 25 | $657.4M | $5.3B | ||
| Q4 24 | $670.6M | $5.4B | ||
| Q3 24 | $663.9M | $5.8B | ||
| Q2 24 | $562.7M | $5.8B | ||
| Q1 24 | $571.4M | $5.9B |
总资产AHHBXP
| Q4 25 | $2.6B | $26.2B | ||
| Q3 25 | $2.6B | $26.0B | ||
| Q2 25 | $2.6B | $25.6B | ||
| Q1 25 | $2.5B | $25.4B | ||
| Q4 24 | $2.5B | $26.1B | ||
| Q3 24 | $2.6B | $26.4B | ||
| Q2 24 | $2.6B | $25.5B | ||
| Q1 24 | $2.6B | $25.5B |
负债/权益比AHHBXP
| Q4 25 | 2.43× | — | ||
| Q3 25 | 2.33× | — | ||
| Q2 25 | 2.22× | — | ||
| Q1 25 | 2.01× | — | ||
| Q4 24 | 1.93× | — | ||
| Q3 24 | 2.00× | — | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 2.50× | — |
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 | — | $407.8M |
| 自由现金流经营现金流 - 资本支出 | — | $362.7M |
| 自由现金流率自由现金流/营收 | — | 41.4% |
| 资本支出强度资本支出/营收 | — | 5.1% |
| 现金转化率经营现金流/净利润 | — | 1.64× |
| 过去12个月自由现金流最近4个季度 | — | $1.0B |
8季度趋势，按日历期对齐
经营现金流AHHBXP
| Q4 25 | — | $407.8M | ||
| Q3 25 | $26.3M | $274.2M | ||
| Q2 25 | $11.1M | $353.1M | ||
| Q1 25 | $107.0K | $210.0M | ||
| Q4 24 | $20.8M | $383.7M | ||
| Q3 24 | $27.3M | $286.1M | ||
| Q2 24 | $17.4M | $367.1M | ||
| Q1 24 | $46.5M | $197.6M |
自由现金流AHHBXP
| Q4 25 | — | $362.7M | ||
| Q3 25 | — | $231.6M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $152.6M | ||
| Q4 24 | — | $312.5M | ||
| Q3 24 | — | $234.5M | ||
| Q2 24 | — | $332.4M | ||
| Q1 24 | — | $165.5M |
自由现金流率AHHBXP
| Q4 25 | — | 41.4% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 32.4% | ||
| Q1 25 | — | 17.6% | ||
| Q4 24 | — | 36.4% | ||
| Q3 24 | — | 27.3% | ||
| Q2 24 | — | 39.1% | ||
| Q1 24 | — | 19.7% |
资本支出强度AHHBXP
| Q4 25 | — | 5.1% | ||
| Q3 25 | — | 4.9% | ||
| Q2 25 | — | 8.2% | ||
| Q1 25 | — | 6.6% | ||
| Q4 24 | — | 8.3% | ||
| Q3 24 | — | 6.0% | ||
| Q2 24 | — | 4.1% | ||
| Q1 24 | — | 3.8% |
现金转化率AHHBXP
| Q4 25 | — | 1.64× | ||
| Q3 25 | 328.63× | — | ||
| Q2 25 | 1.87× | 3.97× | ||
| Q1 25 | — | 3.43× | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | — | 3.42× | ||
| Q2 24 | 5.48× | 4.61× | ||
| Q1 24 | 3.30× | 2.47× |
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
AHH
| Office Real Estate Segment | $28.8M | 38% |
| Retail Real Estate Segment | $25.4M | 34% |
| Multifamily Residential Real Estate | $17.7M | 23% |
| Real Estate Financing Segment | $3.6M | 5% |
BXP
暂无分部数据
