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BRANDYWINE REALTY TRUST（BDN）与RMR GROUP INC.（RMR）财务数据对比。点击上方公司名可切换其他公司
BRANDYWINE REALTY TRUST的季度营收约是RMR GROUP INC.的1.9倍（$127.0M vs $66.7M），RMR GROUP INC.净利率更高（18.3% vs -38.4%，领先56.7%），RMR GROUP INC.同比增速更快（40.8% vs 4.5%）
白兰地房地产信托是一家总部位于费城的房地产投资信托基金（REIT），核心投资方向为费城、华盛顿特区以及德克萨斯州奥斯汀的写字楼物业，是美国聚焦核心都市商务地产的专业REIT运营商。
RMR集团是总部位于美国的另类资产管理企业，核心业务聚焦不动产及相关投资，覆盖商业地产、住宅物业、基础设施等赛道，服务全球核心市场的机构投资者、高净值人士及零售客户。
BDN vs RMR — 直观对比
营收规模更大
BDN
是对方的1.9倍
$66.7M
营收增速更快
RMR
高出36.2%
4.5%
净利率更高
RMR
高出56.7%
-38.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $127.0M | $66.7M |
| 净利润 | $-48.8M | $12.2M |
| 毛利率 | — | — |
| 营业利润率 | 1.2% | 48.1% |
| 净利率 | -38.4% | 18.3% |
| 营收同比 | 4.5% | 40.8% |
| 净利润同比 | -80.4% | 91.1% |
| 每股收益（稀释后） | $-0.28 | $0.71 |
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BDNRMR
| Q1 26 | $127.0M | — | ||
| Q4 25 | $121.0M | $66.7M | ||
| Q3 25 | $121.4M | — | ||
| Q2 25 | $120.6M | — | ||
| Q1 25 | $121.5M | — | ||
| Q4 24 | $121.9M | — | ||
| Q3 24 | $131.8M | — | ||
| Q2 24 | $125.3M | — |
净利润BDNRMR
| Q1 26 | $-48.8M | — | ||
| Q4 25 | $-36.7M | $12.2M | ||
| Q3 25 | $-25.9M | — | ||
| Q2 25 | $-88.7M | — | ||
| Q1 25 | $-27.0M | — | ||
| Q4 24 | $-44.5M | — | ||
| Q3 24 | $-165.2M | — | ||
| Q2 24 | $30.2M | — |
毛利率BDNRMR
| Q1 26 | — | — | ||
| Q4 25 | 61.3% | — | ||
| Q3 25 | 62.6% | — | ||
| Q2 25 | 62.4% | — | ||
| Q1 25 | 60.8% | — | ||
| Q4 24 | 61.2% | — | ||
| Q3 24 | 64.9% | — | ||
| Q2 24 | 63.1% | — |
营业利润率BDNRMR
| Q1 26 | 1.2% | — | ||
| Q4 25 | 22.8% | 48.1% | ||
| Q3 25 | 20.8% | — | ||
| Q2 25 | -34.3% | — | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | -7.2% | — | ||
| Q2 24 | 15.5% | — |
净利率BDNRMR
| Q1 26 | -38.4% | — | ||
| Q4 25 | -30.3% | 18.3% | ||
| Q3 25 | -21.3% | — | ||
| Q2 25 | -73.5% | — | ||
| Q1 25 | -22.2% | — | ||
| Q4 24 | -36.5% | — | ||
| Q3 24 | -125.4% | — | ||
| Q2 24 | 24.1% | — |
每股收益（稀释后）BDNRMR
| Q1 26 | $-0.28 | — | ||
| Q4 25 | $-0.21 | $0.71 | ||
| Q3 25 | $-0.15 | — | ||
| Q2 25 | $-0.51 | — | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $-0.25 | — | ||
| Q3 24 | $-0.96 | — | ||
| Q2 24 | $0.17 | — |
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 | $36.2M | $49.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $232.7M |
| 总资产 | $3.6B | $687.1M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资BDNRMR
| Q1 26 | $36.2M | — | ||
| Q4 25 | $32.3M | $49.3M | ||
| Q3 25 | $75.5M | — | ||
| Q2 25 | $122.6M | — | ||
| Q1 25 | $29.4M | — | ||
| Q4 24 | $90.2M | — | ||
| Q3 24 | $36.5M | — | ||
| Q2 24 | $30.4M | — |
总债务BDNRMR
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.2B | — |
股东权益BDNRMR
| Q1 26 | — | — | ||
| Q4 25 | $792.7M | $232.7M | ||
| Q3 25 | $841.5M | — | ||
| Q2 25 | $879.8M | — | ||
| Q1 25 | $993.6M | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.3B | — |
总资产BDNRMR
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $687.1M | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.4B | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.8B | — |
负债/权益比BDNRMR
| Q1 26 | — | — | ||
| Q4 25 | 3.23× | — | ||
| Q3 25 | 2.70× | — | ||
| Q2 25 | 2.63× | — | ||
| Q1 25 | 2.23× | — | ||
| Q4 24 | 2.13× | — | ||
| Q3 24 | 2.06× | — | ||
| Q2 24 | 1.73× | — |
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 | — | $10.7M |
| 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 | — | 0.88× |
| 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BDNRMR
| Q1 26 | — | — | ||
| Q4 25 | $116.7M | $10.7M | ||
| Q3 25 | $47.5M | — | ||
| Q2 25 | $34.4M | — | ||
| Q1 25 | $6.3M | — | ||
| Q4 24 | $181.1M | — | ||
| Q3 24 | $52.2M | — | ||
| Q2 24 | $48.2M | — |
现金转化率BDNRMR
| Q1 26 | — | — | ||
| Q4 25 | — | 0.88× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.60× | — |
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
BDN
| Rents | $120.7M | 95% |
| Third party management fees, labor reimbursement and leasing | $4.7M | 4% |
RMR
| Management Service Incentive | $23.6M | 35% |
| Industrial Logistics Properties Trust | $15.1M | 23% |
| Managed Private Real Estate Capital | $11.1M | 17% |
| Office Properties Income Trust | $5.6M | 8% |
| Other Private Entities | $5.3M | 8% |
| RMR Residential | $3.4M | 5% |
| Sonesta International Hotels Corporation | $2.1M | 3% |
| Investment Advisory Management And Administrative Service | $1.2M | 2% |
