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BXP, Inc.（BXP）与CLEAN HARBORS INC（CLH）财务数据对比。点击上方公司名可切换其他公司
CLEAN HARBORS INC的季度营收约是BXP, Inc.的1.7倍（$1.5B vs $872.1M），BXP, Inc.净利率更高（15.3% vs 5.8%，领先9.5%），CLEAN HARBORS INC同比增速更快（4.8% vs 0.8%），过去两年CLEAN HARBORS INC的营收复合增速更高（4.4% 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。
总部位于美国马萨诸塞州诺韦尔的Clean Harbors是专业的商业客户废弃物管理与工业服务提供商，主营危险废弃物的收集、运输、处理及处置业务，同时提供非危险废弃物相关服务，目前在美加两国拥有870个运营网点，及包含焚烧厂、填埋场在内的100余座废弃物处置设施。
BXP vs CLH — 直观对比
营收规模更大
CLH
是对方的1.7倍
$872.1M
营收增速更快
CLH
高出4.0%
0.8%
净利率更高
BXP
高出9.5%
5.8%
两年增速更快
CLH
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $1.5B |
| 净利润 | $133.0M | $86.6M |
| 毛利率 | — | 30.6% |
| 营业利润率 | — | 10.6% |
| 净利率 | 15.3% | 5.8% |
| 营收同比 | 0.8% | 4.8% |
| 净利润同比 | 53.0% | 3.1% |
| 每股收益（稀释后） | $1.69 | $1.62 |
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BXPCLH
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $1.5B | ||
| Q3 25 | $871.5M | $1.5B | ||
| Q2 25 | $868.5M | $1.5B | ||
| Q1 25 | $865.2M | $1.4B | ||
| Q4 24 | $858.6M | $1.4B | ||
| Q3 24 | $859.2M | $1.5B | ||
| Q2 24 | $850.5M | $1.6B |
净利润BXPCLH
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $86.6M | ||
| Q3 25 | $-121.7M | $118.8M | ||
| Q2 25 | $89.0M | $126.9M | ||
| Q1 25 | $61.2M | $58.7M | ||
| Q4 24 | $-228.9M | $84.0M | ||
| Q3 24 | $83.6M | $115.2M | ||
| Q2 24 | $79.6M | $133.3M |
毛利率BXPCLH
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 30.6% | ||
| Q3 25 | 59.3% | 32.3% | ||
| Q2 25 | 59.2% | 33.3% | ||
| Q1 25 | 59.2% | 28.6% | ||
| Q4 24 | 59.7% | 29.9% | ||
| Q3 24 | 59.5% | 31.0% | ||
| Q2 24 | 59.8% | 33.3% |
营业利润率BXPCLH
| Q1 26 | — | — | ||
| Q4 25 | — | 10.6% | ||
| Q3 25 | — | 12.5% | ||
| Q2 25 | — | 13.6% | ||
| Q1 25 | — | 7.8% | ||
| Q4 24 | — | 9.6% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | — | 13.9% |
净利率BXPCLH
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 5.8% | ||
| Q3 25 | -14.0% | 7.7% | ||
| Q2 25 | 10.2% | 8.2% | ||
| Q1 25 | 7.1% | 4.1% | ||
| Q4 24 | -26.7% | 5.9% | ||
| Q3 24 | 9.7% | 7.5% | ||
| Q2 24 | 9.4% | 8.6% |
每股收益（稀释后）BXPCLH
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $1.62 | ||
| Q3 25 | $-0.77 | $2.21 | ||
| Q2 25 | $0.56 | $2.36 | ||
| Q1 25 | $0.39 | $1.09 | ||
| Q4 24 | $-1.46 | $1.55 | ||
| Q3 24 | $0.53 | $2.12 | ||
| Q2 24 | $0.51 | $2.46 |
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 | $127.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $2.7B |
| 总资产 | $25.1B | $7.6B |
| 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BXPCLH
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $127.4M | ||
| Q3 25 | $861.1M | $91.2M | ||
| Q2 25 | $447.0M | $98.9M | ||
| Q1 25 | $398.1M | $105.9M | ||
| Q4 24 | $1.3B | $102.6M | ||
| Q3 24 | $1.4B | $82.4M | ||
| Q2 24 | $685.4M | $91.3M |
股东权益BXPCLH
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $2.7B | ||
| Q3 25 | $5.0B | $2.8B | ||
| Q2 25 | $5.3B | $2.7B | ||
| Q1 25 | $5.3B | $2.6B | ||
| Q4 24 | $5.4B | $2.6B | ||
| Q3 24 | $5.8B | $2.5B | ||
| Q2 24 | $5.8B | $2.4B |
总资产BXPCLH
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $7.6B | ||
| Q3 25 | $26.0B | $7.5B | ||
| Q2 25 | $25.6B | $7.4B | ||
| Q1 25 | $25.4B | $7.2B | ||
| Q4 24 | $26.1B | $7.4B | ||
| Q3 24 | $26.4B | $7.3B | ||
| Q2 24 | $25.5B | $7.1B |
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 | — | $355.1M |
| 自由现金流经营现金流 - 资本支出 | — | $233.3M |
| 自由现金流率自由现金流/营收 | — | 15.6% |
| 资本支出强度资本支出/营收 | 1.5% | 8.1% |
| 现金转化率经营现金流/净利润 | — | 4.10× |
| 过去12个月自由现金流最近4个季度 | — | $441.8M |
8季度趋势，按日历期对齐
经营现金流BXPCLH
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $355.1M | ||
| Q3 25 | $274.2M | $302.0M | ||
| Q2 25 | $353.1M | $208.0M | ||
| Q1 25 | $210.0M | $1.6M | ||
| Q4 24 | $383.7M | $303.9M | ||
| Q3 24 | $286.1M | $239.2M | ||
| Q2 24 | $367.1M | $216.0M |
自由现金流BXPCLH
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $233.3M | ||
| Q3 25 | $231.6M | $207.5M | ||
| Q2 25 | $281.5M | $118.0M | ||
| Q1 25 | $152.6M | $-117.1M | ||
| Q4 24 | $312.5M | $241.5M | ||
| Q3 24 | $234.5M | $142.4M | ||
| Q2 24 | $332.4M | $80.9M |
自由现金流率BXPCLH
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 15.6% | ||
| Q3 25 | 26.6% | 13.4% | ||
| Q2 25 | 32.4% | 7.6% | ||
| Q1 25 | 17.6% | -8.2% | ||
| Q4 24 | 36.4% | 16.9% | ||
| Q3 24 | 27.3% | 9.3% | ||
| Q2 24 | 39.1% | 5.2% |
资本支出强度BXPCLH
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 8.1% | ||
| Q3 25 | 4.9% | 6.1% | ||
| Q2 25 | 8.2% | 5.8% | ||
| Q1 25 | 6.6% | 8.3% | ||
| Q4 24 | 8.3% | 4.4% | ||
| Q3 24 | 6.0% | 6.3% | ||
| Q2 24 | 4.1% | 8.7% |
现金转化率BXPCLH
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 4.10× | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | 3.97× | 1.64× | ||
| Q1 25 | 3.43× | 0.03× | ||
| Q4 24 | — | 3.62× | ||
| Q3 24 | 3.42× | 2.08× | ||
| Q2 24 | 4.61× | 1.62× |
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% |
CLH
| Technical Services | $479.3M | 32% |
| Safetly Kleen Environmental Services | $252.9M | 17% |
| Fieldand Emergency Response | $246.6M | 16% |
| Products | $205.3M | 14% |
| Safety Kleen Sustainability Solutions Segment | $188.4M | 13% |
| Safety Kleen Oil | $132.6M | 9% |
