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BXP, Inc.（BXP）与CULLEN/FROST BANKERS, INC.（CFR）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CULLEN/FROST BANKERS, INC.的1.5倍（$872.1M vs $580.9M），CULLEN/FROST BANKERS, INC.净利率更高（28.6% vs 15.3%，领先13.4%），CULLEN/FROST BANKERS, INC.同比增速更快（8.3% vs 0.8%），过去两年CULLEN/FROST BANKERS, INC.的营收复合增速更高（7.6% vs 1.3%）
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。
Frost Bank是总部位于美国圣安东尼奥的德克萨斯州特许银行，为银行控股公司卡伦/弗罗斯特银行家集团的核心子公司。其在得克萨斯州共设有200家营业网点、1750台自动柜员机，按总资产规模统计位列全美前60大银行之列。
BXP vs CFR — 直观对比
营收规模更大
BXP
是对方的1.5倍
$580.9M
营收增速更快
CFR
高出7.5%
0.8%
净利率更高
CFR
高出13.4%
15.3%
两年增速更快
CFR
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $580.9M |
| 净利润 | $133.0M | $166.3M |
| 毛利率 | — | — |
| 营业利润率 | — | 34.1% |
| 净利率 | 15.3% | 28.6% |
| 营收同比 | 0.8% | 8.3% |
| 净利润同比 | 53.0% | 7.4% |
| 每股收益（稀释后） | $1.69 | $2.56 |
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BXPCFR
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $580.9M | ||
| Q3 25 | $871.5M | $567.3M | ||
| Q2 25 | $868.5M | $546.9M | ||
| Q1 25 | $865.2M | $540.2M | ||
| Q4 24 | $858.6M | $536.3M | ||
| Q3 24 | $859.2M | $518.0M | ||
| Q2 24 | $850.5M | $507.9M |
净利润BXPCFR
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $166.3M | ||
| Q3 25 | $-121.7M | $174.4M | ||
| Q2 25 | $89.0M | $157.0M | ||
| Q1 25 | $61.2M | $150.9M | ||
| Q4 24 | $-228.9M | $154.9M | ||
| Q3 24 | $83.6M | $146.5M | ||
| Q2 24 | $79.6M | $145.5M |
毛利率BXPCFR
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | — | ||
| Q3 25 | 59.3% | — | ||
| Q2 25 | 59.2% | — | ||
| Q1 25 | 59.2% | — | ||
| Q4 24 | 59.7% | — | ||
| Q3 24 | 59.5% | — | ||
| Q2 24 | 59.8% | — |
营业利润率BXPCFR
| Q1 26 | — | — | ||
| Q4 25 | — | 34.1% | ||
| Q3 25 | — | 36.7% | ||
| Q2 25 | — | 34.1% | ||
| Q1 25 | — | 33.2% | ||
| Q4 24 | — | 34.3% | ||
| Q3 24 | — | 33.8% | ||
| Q2 24 | — | 34.5% |
净利率BXPCFR
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 28.6% | ||
| Q3 25 | -14.0% | 30.7% | ||
| Q2 25 | 10.2% | 28.7% | ||
| Q1 25 | 7.1% | 27.9% | ||
| Q4 24 | -26.7% | 28.9% | ||
| Q3 24 | 9.7% | 28.3% | ||
| Q2 24 | 9.4% | 28.6% |
每股收益（稀释后）BXPCFR
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $2.56 | ||
| Q3 25 | $-0.77 | $2.67 | ||
| Q2 25 | $0.56 | $2.39 | ||
| Q1 25 | $0.39 | $2.30 | ||
| Q4 24 | $-1.46 | $2.36 | ||
| Q3 24 | $0.53 | $2.24 | ||
| Q2 24 | $0.51 | $2.21 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $4.6B |
| 总资产 | $25.1B | $53.0B |
| 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BXPCFR
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $861.1M | — | ||
| Q2 25 | $447.0M | — | ||
| Q1 25 | $398.1M | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $685.4M | — |
股东权益BXPCFR
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $4.6B | ||
| Q3 25 | $5.0B | $4.5B | ||
| Q2 25 | $5.3B | $4.2B | ||
| Q1 25 | $5.3B | $4.1B | ||
| Q4 24 | $5.4B | $3.9B | ||
| Q3 24 | $5.8B | $4.1B | ||
| Q2 24 | $5.8B | $3.7B |
总资产BXPCFR
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $53.0B | ||
| Q3 25 | $26.0B | $52.5B | ||
| Q2 25 | $25.6B | $51.4B | ||
| Q1 25 | $25.4B | $52.0B | ||
| Q4 24 | $26.1B | $52.5B | ||
| Q3 24 | $26.4B | $51.0B | ||
| Q2 24 | $25.5B | $48.8B |
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 | — | $274.0M |
| 自由现金流经营现金流 - 资本支出 | — | $127.3M |
| 自由现金流率自由现金流/营收 | — | 21.9% |
| 资本支出强度资本支出/营收 | 1.5% | 25.2% |
| 现金转化率经营现金流/净利润 | — | 1.65× |
| 过去12个月自由现金流最近4个季度 | — | $116.4M |
8季度趋势，按日历期对齐
经营现金流BXPCFR
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $274.0M | ||
| Q3 25 | $274.2M | $248.6M | ||
| Q2 25 | $353.1M | $140.8M | ||
| Q1 25 | $210.0M | $-296.1M | ||
| Q4 24 | $383.7M | $989.5M | ||
| Q3 24 | $286.1M | $307.2M | ||
| Q2 24 | $367.1M | $129.6M |
自由现金流BXPCFR
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $127.3M | ||
| Q3 25 | $231.6M | $211.7M | ||
| Q2 25 | $281.5M | $114.5M | ||
| Q1 25 | $152.6M | $-337.1M | ||
| Q4 24 | $312.5M | $861.8M | ||
| Q3 24 | $234.5M | $281.9M | ||
| Q2 24 | $332.4M | $103.0M |
自由现金流率BXPCFR
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 21.9% | ||
| Q3 25 | 26.6% | 37.3% | ||
| Q2 25 | 32.4% | 20.9% | ||
| Q1 25 | 17.6% | -62.4% | ||
| Q4 24 | 36.4% | 160.7% | ||
| Q3 24 | 27.3% | 54.4% | ||
| Q2 24 | 39.1% | 20.3% |
资本支出强度BXPCFR
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 25.2% | ||
| Q3 25 | 4.9% | 6.5% | ||
| Q2 25 | 8.2% | 4.8% | ||
| Q1 25 | 6.6% | 7.6% | ||
| Q4 24 | 8.3% | 23.8% | ||
| Q3 24 | 6.0% | 4.9% | ||
| Q2 24 | 4.1% | 5.2% |
现金转化率BXPCFR
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 1.65× | ||
| Q3 25 | — | 1.43× | ||
| Q2 25 | 3.97× | 0.90× | ||
| Q1 25 | 3.43× | -1.96× | ||
| Q4 24 | — | 6.39× | ||
| Q3 24 | 3.42× | 2.10× | ||
| Q2 24 | 4.61× | 0.89× |
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% |
CFR
暂无分部数据
