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BXP, Inc.（BXP）与Corpay（CPAY）财务数据对比。点击上方公司名可切换其他公司
Corpay的季度营收约是BXP, Inc.的1.4倍（$1.2B vs $872.1M），Corpay净利率更高（21.2% vs 15.3%，领先5.9%），Corpay同比增速更快（20.7% vs 0.8%），过去两年Corpay的营收复合增速更高（15.5% 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。
Corpay总部位于美国佐治亚州亚特兰大，是专业的支付与支出管理服务提供商，旗下系统及服务可帮助客户高效管控采购、支付全流程的相关费用，核心业务覆盖车辆相关支出、住宿支出及企业支付三大领域。
BXP vs CPAY — 直观对比
营收规模更大
CPAY
是对方的1.4倍
$872.1M
营收增速更快
CPAY
高出19.9%
0.8%
净利率更高
CPAY
高出5.9%
15.3%
两年增速更快
CPAY
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $1.2B |
| 净利润 | $133.0M | $264.5M |
| 毛利率 | — | — |
| 营业利润率 | — | 45.2% |
| 净利率 | 15.3% | 21.2% |
| 营收同比 | 0.8% | 20.7% |
| 净利润同比 | 53.0% | 7.5% |
| 每股收益（稀释后） | $1.69 | $3.74 |
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BXPCPAY
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $1.2B | ||
| Q3 25 | $871.5M | $1.2B | ||
| Q2 25 | $868.5M | $1.1B | ||
| Q1 25 | $865.2M | $1.0B | ||
| Q4 24 | $858.6M | $1.0B | ||
| Q3 24 | $859.2M | $1.0B | ||
| Q2 24 | $850.5M | $975.7M |
净利润BXPCPAY
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $264.5M | ||
| Q3 25 | $-121.7M | $277.9M | ||
| Q2 25 | $89.0M | $284.2M | ||
| Q1 25 | $61.2M | $243.2M | ||
| Q4 24 | $-228.9M | $246.0M | ||
| Q3 24 | $83.6M | $276.4M | ||
| Q2 24 | $79.6M | $251.6M |
毛利率BXPCPAY
| 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BXPCPAY
| Q1 26 | — | — | ||
| Q4 25 | — | 45.2% | ||
| Q3 25 | — | 44.6% | ||
| Q2 25 | — | 43.5% | ||
| Q1 25 | — | 42.5% | ||
| Q4 24 | — | 47.2% | ||
| Q3 24 | — | 45.5% | ||
| Q2 24 | — | 44.4% |
净利率BXPCPAY
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 21.2% | ||
| Q3 25 | -14.0% | 23.7% | ||
| Q2 25 | 10.2% | 25.8% | ||
| Q1 25 | 7.1% | 24.2% | ||
| Q4 24 | -26.7% | 23.8% | ||
| Q3 24 | 9.7% | 26.9% | ||
| Q2 24 | 9.4% | 25.8% |
每股收益（稀释后）BXPCPAY
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $3.74 | ||
| Q3 25 | $-0.77 | $3.91 | ||
| Q2 25 | $0.56 | $3.98 | ||
| Q1 25 | $0.39 | $3.40 | ||
| Q4 24 | $-1.46 | $3.43 | ||
| Q3 24 | $0.53 | $3.90 | ||
| Q2 24 | $0.51 | $3.52 |
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 | $2.4B |
| 总债务越低越好 | — | $10.0B |
| 股东权益账面价值 | $7.7B | $3.9B |
| 总资产 | $25.1B | $26.4B |
| 负债/权益比越低杠杆越低 | — | 2.58× |
8季度趋势，按日历期对齐
现金及短期投资BXPCPAY
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $2.4B | ||
| Q3 25 | $861.1M | $2.0B | ||
| Q2 25 | $447.0M | $2.2B | ||
| Q1 25 | $398.1M | $1.6B | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $685.4M | $1.4B |
总债务BXPCPAY
| Q1 26 | — | — | ||
| Q4 25 | — | $10.0B | ||
| Q3 25 | — | $8.1B | ||
| Q2 25 | — | $8.1B | ||
| Q1 25 | — | $8.2B | ||
| Q4 24 | — | $8.0B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益BXPCPAY
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $3.9B | ||
| Q3 25 | $5.0B | $4.1B | ||
| Q2 25 | $5.3B | $3.9B | ||
| Q1 25 | $5.3B | $3.5B | ||
| Q4 24 | $5.4B | $3.1B | ||
| Q3 24 | $5.8B | $3.1B | ||
| Q2 24 | $5.8B | $2.8B |
总资产BXPCPAY
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $26.4B | ||
| Q3 25 | $26.0B | $19.7B | ||
| Q2 25 | $25.6B | $20.4B | ||
| Q1 25 | $25.4B | $18.5B | ||
| Q4 24 | $26.1B | $18.0B | ||
| Q3 24 | $26.4B | $17.6B | ||
| Q2 24 | $25.5B | $16.2B |
负债/权益比BXPCPAY
| Q1 26 | — | — | ||
| Q4 25 | — | 2.58× | ||
| Q3 25 | — | 1.99× | ||
| Q2 25 | — | 2.07× | ||
| Q1 25 | — | 2.37× | ||
| Q4 24 | — | 2.56× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $812.7M |
| 自由现金流经营现金流 - 资本支出 | — | $760.3M |
| 自由现金流率自由现金流/营收 | — | 60.9% |
| 资本支出强度资本支出/营收 | 1.5% | 4.2% |
| 现金转化率经营现金流/净利润 | — | 3.07× |
| 过去12个月自由现金流最近4个季度 | — | $1.3B |
8季度趋势，按日历期对齐
经营现金流BXPCPAY
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $812.7M | ||
| Q3 25 | $274.2M | $-378.9M | ||
| Q2 25 | $353.1M | $1.1B | ||
| Q1 25 | $210.0M | $-74.2M | ||
| Q4 24 | $383.7M | $648.7M | ||
| Q3 24 | $286.1M | $400.8M | ||
| Q2 24 | $367.1M | $540.9M |
自由现金流BXPCPAY
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $760.3M | ||
| Q3 25 | $231.6M | $-429.8M | ||
| Q2 25 | $281.5M | $1.1B | ||
| Q1 25 | $152.6M | $-118.9M | ||
| Q4 24 | $312.5M | $604.6M | ||
| Q3 24 | $234.5M | $355.0M | ||
| Q2 24 | $332.4M | $496.8M |
自由现金流率BXPCPAY
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 60.9% | ||
| Q3 25 | 26.6% | -36.7% | ||
| Q2 25 | 32.4% | 98.7% | ||
| Q1 25 | 17.6% | -11.8% | ||
| Q4 24 | 36.4% | 58.4% | ||
| Q3 24 | 27.3% | 34.5% | ||
| Q2 24 | 39.1% | 50.9% |
资本支出强度BXPCPAY
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 4.2% | ||
| Q3 25 | 4.9% | 4.3% | ||
| Q2 25 | 8.2% | 4.8% | ||
| Q1 25 | 6.6% | 4.5% | ||
| Q4 24 | 8.3% | 4.3% | ||
| Q3 24 | 6.0% | 4.4% | ||
| Q2 24 | 4.1% | 4.5% |
现金转化率BXPCPAY
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 3.07× | ||
| Q3 25 | — | -1.36× | ||
| Q2 25 | 3.97× | 4.01× | ||
| Q1 25 | 3.43× | -0.30× | ||
| Q4 24 | — | 2.64× | ||
| Q3 24 | 3.42× | 1.45× | ||
| Q2 24 | 4.61× | 2.15× |
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% |
CPAY
| Vehicle Payments | $572.9M | 46% |
| Corporate Payments | $480.8M | 39% |
| Lodging Payments | $112.5M | 9% |
| Other Operating Segments | $82.1M | 7% |
