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BXP, Inc.（BXP）与QWEST CORP（CTBB）财务数据对比。点击上方公司名可切换其他公司
QWEST CORP的季度营收约是BXP, Inc.的1.3倍（$1.1B vs $872.1M），BXP, Inc.净利率更高（15.3% vs -187.5%，领先202.7%），BXP, Inc.同比增速更快（0.8% vs -15.0%），过去两年BXP, Inc.的营收复合增速更高（1.3% vs -8.6%）
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。
奎斯特公司（以CenturyLink QC名义运营）是一家隶属于 lumen Technologies 的地区性贝尔运营公司。其前身为1911年成立的山地电话电报公司，先后更名为山地贝尔、美国西部通讯，2000年改为现名，业务整合了原Malheur Bell、西北贝尔、太平洋西北贝尔的运营资源。
BXP vs CTBB — 直观对比
营收规模更大
CTBB
是对方的1.3倍
$872.1M
营收增速更快
BXP
高出15.8%
-15.0%
净利率更高
BXP
高出202.7%
-187.5%
两年增速更快
BXP
近两年复合增速
-8.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $1.1B |
| 净利润 | $133.0M | $-2.1B |
| 毛利率 | — | 67.9% |
| 营业利润率 | — | -183.2% |
| 净利率 | 15.3% | -187.5% |
| 营收同比 | 0.8% | -15.0% |
| 净利润同比 | 53.0% | -627.9% |
| 每股收益（稀释后） | $1.69 | — |
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BXPCTBB
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $1.1B | ||
| Q3 25 | $871.5M | $1.1B | ||
| Q2 25 | $868.5M | $1.1B | ||
| Q1 25 | $865.2M | $1.2B | ||
| Q4 24 | $858.6M | $1.3B | ||
| Q3 24 | $859.2M | $1.3B | ||
| Q2 24 | $850.5M | $1.3B |
净利润BXPCTBB
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $-2.1B | ||
| Q3 25 | $-121.7M | $176.0M | ||
| Q2 25 | $89.0M | $277.0M | ||
| Q1 25 | $61.2M | $284.0M | ||
| Q4 24 | $-228.9M | $391.0M | ||
| Q3 24 | $83.6M | $365.0M | ||
| Q2 24 | $79.6M | $378.0M |
毛利率BXPCTBB
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 67.9% | ||
| Q3 25 | 59.3% | 65.3% | ||
| Q2 25 | 59.2% | 68.2% | ||
| Q1 25 | 59.2% | 69.3% | ||
| Q4 24 | 59.7% | 71.2% | ||
| Q3 24 | 59.5% | 69.9% | ||
| Q2 24 | 59.8% | 71.6% |
营业利润率BXPCTBB
| Q1 26 | — | — | ||
| Q4 25 | — | -183.2% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 33.1% | ||
| Q1 25 | — | 33.7% | ||
| Q4 24 | — | 40.7% | ||
| Q3 24 | — | 38.5% | ||
| Q2 24 | — | 40.3% |
净利率BXPCTBB
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | -187.5% | ||
| Q3 25 | -14.0% | 16.1% | ||
| Q2 25 | 10.2% | 24.3% | ||
| Q1 25 | 7.1% | 24.7% | ||
| Q4 24 | -26.7% | 30.2% | ||
| Q3 24 | 9.7% | 28.2% | ||
| Q2 24 | 9.4% | 28.7% |
每股收益（稀释后）BXPCTBB
| Q1 26 | $1.69 | — | ||
| 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 | $39.0M |
| 总债务越低越好 | — | $1.7B |
| 股东权益账面价值 | $7.7B | $10.9B |
| 总资产 | $25.1B | $15.8B |
| 负债/权益比越低杠杆越低 | — | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资BXPCTBB
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $39.0M | ||
| Q3 25 | $861.1M | $36.0M | ||
| Q2 25 | $447.0M | $25.0M | ||
| Q1 25 | $398.1M | $40.0M | ||
| Q4 24 | $1.3B | $26.0M | ||
| Q3 24 | $1.4B | $22.0M | ||
| Q2 24 | $685.4M | $18.0M |
总债务BXPCTBB
| Q1 26 | — | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.9B |
股东权益BXPCTBB
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $10.9B | ||
| Q3 25 | $5.0B | $13.0B | ||
| Q2 25 | $5.3B | $12.8B | ||
| Q1 25 | $5.3B | $12.5B | ||
| Q4 24 | $5.4B | $12.2B | ||
| Q3 24 | $5.8B | $11.9B | ||
| Q2 24 | $5.8B | $11.5B |
总资产BXPCTBB
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $15.8B | ||
| Q3 25 | $26.0B | $17.9B | ||
| Q2 25 | $25.6B | $17.8B | ||
| Q1 25 | $25.4B | $17.6B | ||
| Q4 24 | $26.1B | $17.4B | ||
| Q3 24 | $26.4B | $17.0B | ||
| Q2 24 | $25.5B | $16.6B |
负债/权益比BXPCTBB
| Q1 26 | — | — | ||
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.13× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.17× |
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 | — | $402.0M |
| 自由现金流经营现金流 - 资本支出 | — | $160.0M |
| 自由现金流率自由现金流/营收 | — | 14.5% |
| 资本支出强度资本支出/营收 | 1.5% | 22.0% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $938.0M |
8季度趋势，按日历期对齐
经营现金流BXPCTBB
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $402.0M | ||
| Q3 25 | $274.2M | $427.0M | ||
| Q2 25 | $353.1M | $480.0M | ||
| Q1 25 | $210.0M | $453.0M | ||
| Q4 24 | $383.7M | $548.0M | ||
| Q3 24 | $286.1M | $627.0M | ||
| Q2 24 | $367.1M | $548.0M |
自由现金流BXPCTBB
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $160.0M | ||
| Q3 25 | $231.6M | $252.0M | ||
| Q2 25 | $281.5M | $276.0M | ||
| Q1 25 | $152.6M | $250.0M | ||
| Q4 24 | $312.5M | $277.0M | ||
| Q3 24 | $234.5M | $396.0M | ||
| Q2 24 | $332.4M | $280.0M |
自由现金流率BXPCTBB
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 14.5% | ||
| Q3 25 | 26.6% | 23.1% | ||
| Q2 25 | 32.4% | 24.2% | ||
| Q1 25 | 17.6% | 21.7% | ||
| Q4 24 | 36.4% | 21.4% | ||
| Q3 24 | 27.3% | 30.6% | ||
| Q2 24 | 39.1% | 21.3% |
资本支出强度BXPCTBB
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 22.0% | ||
| Q3 25 | 4.9% | 16.0% | ||
| Q2 25 | 8.2% | 17.9% | ||
| Q1 25 | 6.6% | 17.6% | ||
| Q4 24 | 8.3% | 20.9% | ||
| Q3 24 | 6.0% | 17.9% | ||
| Q2 24 | 4.1% | 20.4% |
现金转化率BXPCTBB
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | 2.43× | ||
| Q2 25 | 3.97× | 1.73× | ||
| Q1 25 | 3.43× | 1.60× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | 3.42× | 1.72× | ||
| Q2 24 | 4.61× | 1.45× |
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% |
CTBB
| Nonrelated Party | $665.0M | 60% |
| Other | $436.0M | 40% |
