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BXP, Inc.（BXP）与CrossAmerica Partners LP（CAPL）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CrossAmerica Partners LP的1.0倍（$872.1M vs $866.3M），BXP, Inc.净利率更高（15.3% vs 1.2%，领先14.1%），BXP, Inc.同比增速更快（0.8% vs -8.3%），过去两年BXP, Inc.的营收复合增速更高（1.3% vs -4.1%）
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。
塔峰资本合伙人（TowerBrook Capital Partners）是一家总部位于伦敦和纽约的投资管理公司，2005年从索罗斯基金管理分拆独立。该机构主打私募股权及结构性机会投资，曾收购奢侈品品牌Jimmy Choo控股权，截至2025年其管理规模超250亿美元，官网公示在管投资项目共110个。
BXP vs CAPL — 直观对比
营收规模更大
BXP
是对方的1.0倍
$866.3M
营收增速更快
BXP
高出9.1%
-8.3%
净利率更高
BXP
高出14.1%
1.2%
两年增速更快
BXP
近两年复合增速
-4.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $866.3M |
| 净利润 | $133.0M | $10.2M |
| 毛利率 | — | 12.4% |
| 营业利润率 | — | 3.0% |
| 净利率 | 15.3% | 1.2% |
| 营收同比 | 0.8% | -8.3% |
| 净利润同比 | 53.0% | -39.6% |
| 每股收益（稀释后） | $1.69 | $0.24 |
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BXPCAPL
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $866.3M | ||
| Q3 25 | $871.5M | $971.8M | ||
| Q2 25 | $868.5M | $961.9M | ||
| Q1 25 | $865.2M | $862.5M | ||
| Q4 24 | $858.6M | $944.2M | ||
| Q3 24 | $859.2M | $1.1B | ||
| Q2 24 | $850.5M | $1.1B |
净利润BXPCAPL
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $10.2M | ||
| Q3 25 | $-121.7M | $13.6M | ||
| Q2 25 | $89.0M | $25.2M | ||
| Q1 25 | $61.2M | $-7.1M | ||
| Q4 24 | $-228.9M | $16.9M | ||
| Q3 24 | $83.6M | $10.7M | ||
| Q2 24 | $79.6M | $12.4M |
毛利率BXPCAPL
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 12.4% | ||
| Q3 25 | 59.3% | 10.8% | ||
| Q2 25 | 59.2% | 10.5% | ||
| Q1 25 | 59.2% | 10.4% | ||
| Q4 24 | 59.7% | 10.7% | ||
| Q3 24 | 59.5% | 10.3% | ||
| Q2 24 | 59.8% | 9.2% |
营业利润率BXPCAPL
| Q1 26 | — | — | ||
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | 4.3% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | 2.5% |
净利率BXPCAPL
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 1.2% | ||
| Q3 25 | -14.0% | 1.4% | ||
| Q2 25 | 10.2% | 2.6% | ||
| Q1 25 | 7.1% | -0.8% | ||
| Q4 24 | -26.7% | 1.8% | ||
| Q3 24 | 9.7% | 1.0% | ||
| Q2 24 | 9.4% | 1.1% |
每股收益（稀释后）BXPCAPL
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.24 | ||
| Q3 25 | $-0.77 | $0.34 | ||
| Q2 25 | $0.56 | $0.64 | ||
| Q1 25 | $0.39 | $-0.20 | ||
| Q4 24 | $-1.46 | $0.42 | ||
| Q3 24 | $0.53 | $0.27 | ||
| Q2 24 | $0.51 | $0.31 |
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 | $512.8M | $3.1M |
| 总债务越低越好 | — | $687.2M |
| 股东权益账面价值 | $7.7B | — |
| 总资产 | $25.1B | $964.7M |
| 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BXPCAPL
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $3.1M | ||
| Q3 25 | $861.1M | $5.8M | ||
| Q2 25 | $447.0M | $9.7M | ||
| Q1 25 | $398.1M | $6.7M | ||
| Q4 24 | $1.3B | $3.4M | ||
| Q3 24 | $1.4B | $7.8M | ||
| Q2 24 | $685.4M | $5.5M |
总债务BXPCAPL
| Q1 26 | — | — | ||
| Q4 25 | — | $687.2M | ||
| Q3 25 | — | $700.8M | ||
| Q2 25 | — | $722.7M | ||
| Q1 25 | — | $774.1M | ||
| Q4 24 | — | $763.9M | ||
| Q3 24 | — | $769.2M | ||
| Q2 24 | — | $786.7M |
股东权益BXPCAPL
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.3B | — | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.8B | — | ||
| Q2 24 | $5.8B | — |
总资产BXPCAPL
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $964.7M | ||
| Q3 25 | $26.0B | $998.9M | ||
| Q2 25 | $25.6B | $1.0B | ||
| Q1 25 | $25.4B | $1.1B | ||
| Q4 24 | $26.1B | $1.1B | ||
| Q3 24 | $26.4B | $1.1B | ||
| Q2 24 | $25.5B | $1.2B |
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 | — | $29.4M |
| 自由现金流经营现金流 - 资本支出 | — | $22.4M |
| 自由现金流率自由现金流/营收 | — | 2.6% |
| 资本支出强度资本支出/营收 | 1.5% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 2.89× |
| 过去12个月自由现金流最近4个季度 | — | $55.8M |
8季度趋势，按日历期对齐
经营现金流BXPCAPL
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $29.4M | ||
| Q3 25 | $274.2M | $24.4M | ||
| Q2 25 | $353.1M | $22.6M | ||
| Q1 25 | $210.0M | $15.0M | ||
| Q4 24 | $383.7M | $11.1M | ||
| Q3 24 | $286.1M | $41.9M | ||
| Q2 24 | $367.1M | $28.9M |
自由现金流BXPCAPL
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $22.4M | ||
| Q3 25 | $231.6M | $17.7M | ||
| Q2 25 | $281.5M | $10.8M | ||
| Q1 25 | $152.6M | $4.9M | ||
| Q4 24 | $312.5M | $3.9M | ||
| Q3 24 | $234.5M | $34.2M | ||
| Q2 24 | $332.4M | $23.6M |
自由现金流率BXPCAPL
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 2.6% | ||
| Q3 25 | 26.6% | 1.8% | ||
| Q2 25 | 32.4% | 1.1% | ||
| Q1 25 | 17.6% | 0.6% | ||
| Q4 24 | 36.4% | 0.4% | ||
| Q3 24 | 27.3% | 3.2% | ||
| Q2 24 | 39.1% | 2.1% |
资本支出强度BXPCAPL
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 0.8% | ||
| Q3 25 | 4.9% | 0.7% | ||
| Q2 25 | 8.2% | 1.2% | ||
| Q1 25 | 6.6% | 1.2% | ||
| Q4 24 | 8.3% | 0.8% | ||
| Q3 24 | 6.0% | 0.7% | ||
| Q2 24 | 4.1% | 0.5% |
现金转化率BXPCAPL
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 2.89× | ||
| Q3 25 | — | 1.79× | ||
| Q2 25 | 3.97× | 0.90× | ||
| Q1 25 | 3.43× | — | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | 3.42× | 3.92× | ||
| Q2 24 | 4.61× | 2.33× |
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
BXP
| Lease | $818.2M | 94% |
| Parking and other | $30.8M | 4% |
| Development and management services | $9.2M | 1% |
CAPL
| Retail Segment | $505.3M | 58% |
| Wholesale | $360.9M | 42% |
| Other | $1.2M | 0% |
