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BXP, Inc.（BXP）与Churchill Downs Inc（CHDN）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Churchill Downs Inc的1.3倍（$872.1M vs $663.0M），BXP, Inc.净利率更高（15.3% vs 12.5%，领先2.7%），Churchill Downs Inc同比增速更快（3.1% vs 0.8%），过去两年BXP, Inc.的营收复合增速更高（1.3% vs -13.7%）
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。
丘吉尔唐斯股份有限公司是丘吉尔唐斯赛马场的母公司，起家于美国肯塔基州路易斯维尔的单一赛马场，现已发展为业务覆盖美国多州的上市企业，旗下拥有赛马场、赌场、线上投注平台等多元业务板块。
BXP vs CHDN — 直观对比
营收规模更大
BXP
是对方的1.3倍
$663.0M
营收增速更快
CHDN
高出2.3%
0.8%
净利率更高
BXP
高出2.7%
12.5%
两年增速更快
BXP
近两年复合增速
-13.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $663.0M |
| 净利润 | $133.0M | $83.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 21.6% |
| 净利率 | 15.3% | 12.5% |
| 营收同比 | 0.8% | 3.1% |
| 净利润同比 | 53.0% | 7.8% |
| 每股收益（稀释后） | $1.69 | $1.16 |
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BXPCHDN
| Q1 26 | $872.1M | $663.0M | ||
| Q4 25 | $877.1M | $665.9M | ||
| Q3 25 | $871.5M | $683.0M | ||
| Q2 25 | $868.5M | $934.4M | ||
| Q1 25 | $865.2M | $642.6M | ||
| Q4 24 | $858.6M | $624.2M | ||
| Q3 24 | $859.2M | $628.5M | ||
| Q2 24 | $850.5M | $890.7M |
净利润BXPCHDN
| Q1 26 | $133.0M | $83.0M | ||
| Q4 25 | $248.4M | $51.3M | ||
| Q3 25 | $-121.7M | $38.1M | ||
| Q2 25 | $89.0M | $216.9M | ||
| Q1 25 | $61.2M | $76.7M | ||
| Q4 24 | $-228.9M | $71.7M | ||
| Q3 24 | $83.6M | $65.4M | ||
| Q2 24 | $79.6M | $209.3M |
毛利率BXPCHDN
| 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BXPCHDN
| Q1 26 | — | 21.6% | ||
| Q4 25 | — | 18.5% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 35.1% | ||
| Q1 25 | — | 20.9% | ||
| Q4 24 | — | 20.3% | ||
| Q3 24 | — | 20.0% | ||
| Q2 24 | — | 37.0% |
净利率BXPCHDN
| Q1 26 | 15.3% | 12.5% | ||
| Q4 25 | 28.3% | 7.7% | ||
| Q3 25 | -14.0% | 5.6% | ||
| Q2 25 | 10.2% | 23.2% | ||
| Q1 25 | 7.1% | 11.9% | ||
| Q4 24 | -26.7% | 11.5% | ||
| Q3 24 | 9.7% | 10.4% | ||
| Q2 24 | 9.4% | 23.5% |
每股收益（稀释后）BXPCHDN
| Q1 26 | $1.69 | $1.16 | ||
| Q4 25 | $1.56 | — | ||
| Q3 25 | $-0.77 | — | ||
| Q2 25 | $0.56 | — | ||
| Q1 25 | $0.39 | — | ||
| Q4 24 | $-1.46 | — | ||
| Q3 24 | $0.53 | — | ||
| Q2 24 | $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 | $512.8M | $200.0M |
| 总债务越低越好 | — | $840.0M |
| 股东权益账面价值 | $7.7B | — |
| 总资产 | $25.1B | $7.5B |
| 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BXPCHDN
| Q1 26 | $512.8M | $200.0M | ||
| Q4 25 | $1.5B | $200.6M | ||
| Q3 25 | $861.1M | $180.5M | ||
| Q2 25 | $447.0M | $182.4M | ||
| Q1 25 | $398.1M | $174.2M | ||
| Q4 24 | $1.3B | $175.5M | ||
| Q3 24 | $1.4B | $152.7M | ||
| Q2 24 | $685.4M | $140.3M |
总债务BXPCHDN
| Q1 26 | — | $840.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益BXPCHDN
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.0B | ||
| Q3 25 | $5.0B | $1.0B | ||
| Q2 25 | $5.3B | $1.0B | ||
| Q1 25 | $5.3B | $1.1B | ||
| Q4 24 | $5.4B | $1.1B | ||
| Q3 24 | $5.8B | $1.1B | ||
| Q2 24 | $5.8B | $1.0B |
总资产BXPCHDN
| Q1 26 | $25.1B | $7.5B | ||
| Q4 25 | $26.2B | $7.5B | ||
| Q3 25 | $26.0B | $7.5B | ||
| Q2 25 | $25.6B | $7.4B | ||
| Q1 25 | $25.4B | $7.3B | ||
| Q4 24 | $26.1B | $7.3B | ||
| Q3 24 | $26.4B | $7.2B | ||
| Q2 24 | $25.5B | $7.2B |
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 | — | $295.0M |
| 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 | 1.5% | — |
| 现金转化率经营现金流/净利润 | — | 3.55× |
| 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BXPCHDN
| Q1 26 | — | $295.0M | ||
| Q4 25 | $407.8M | — | ||
| Q3 25 | $274.2M | $187.7M | ||
| Q2 25 | $353.1M | — | ||
| Q1 25 | $210.0M | $246.5M | ||
| Q4 24 | $383.7M | — | ||
| Q3 24 | $286.1M | $169.4M | ||
| Q2 24 | $367.1M | — |
自由现金流BXPCHDN
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | — | ||
| Q3 25 | $231.6M | $166.3M | ||
| Q2 25 | $281.5M | — | ||
| Q1 25 | $152.6M | $233.9M | ||
| Q4 24 | $312.5M | — | ||
| Q3 24 | $234.5M | $154.4M | ||
| Q2 24 | $332.4M | — |
自由现金流率BXPCHDN
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | — | ||
| Q3 25 | 26.6% | 24.3% | ||
| Q2 25 | 32.4% | — | ||
| Q1 25 | 17.6% | 36.4% | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 27.3% | 24.6% | ||
| Q2 24 | 39.1% | — |
资本支出强度BXPCHDN
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 2.6% | ||
| Q3 25 | 4.9% | 3.1% | ||
| Q2 25 | 8.2% | 2.0% | ||
| Q1 25 | 6.6% | 2.0% | ||
| Q4 24 | 8.3% | 5.4% | ||
| Q3 24 | 6.0% | 2.4% | ||
| Q2 24 | 4.1% | 2.5% |
现金转化率BXPCHDN
| Q1 26 | — | 3.55× | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | 4.93× | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.43× | 3.21× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.42× | 2.59× | ||
| Q2 24 | 4.61× | — |
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% |
CHDN
| Live and Historical Racing | $297.0M | 45% |
| Gaming | $257.0M | 39% |
| Wagering Services and Solutions | $109.0M | 16% |
