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BXP, Inc.（BXP）与Encompass Health Corp（EHC）财务数据对比。点击上方公司名可切换其他公司
Encompass Health Corp的季度营收约是BXP, Inc.的1.8倍（$1.5B vs $872.1M），BXP, Inc.净利率更高（15.3% vs 9.5%，领先5.8%），Encompass Health Corp同比增速更快（9.9% vs 0.8%），过去两年Encompass Health Corp的营收复合增速更高（8.3% 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。
Encompass Health Corp前身为Amcare及HealthSouth，总部位于美国阿拉巴马州伯明翰，是美国规模最大的住院康复服务提供商，在39个州及波多黎各拥有173家住院康复医院，为中风、神经系统疾病、心肺病症、脑损伤等患者提供专业康复诊疗服务。
BXP vs EHC — 直观对比
营收规模更大
EHC
是对方的1.8倍
$872.1M
营收增速更快
EHC
高出9.1%
0.8%
净利率更高
BXP
高出5.8%
9.5%
两年增速更快
EHC
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 | $146.1M |
| 毛利率 | — | — |
| 营业利润率 | — | 16.7% |
| 净利率 | 15.3% | 9.5% |
| 营收同比 | 0.8% | 9.9% |
| 净利润同比 | 53.0% | 20.8% |
| 每股收益（稀释后） | $1.69 | $1.43 |
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BXPEHC
| 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 | $1.5B | ||
| Q4 24 | $858.6M | $1.4B | ||
| Q3 24 | $859.2M | $1.4B | ||
| Q2 24 | $850.5M | $1.3B |
净利润BXPEHC
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $146.1M | ||
| Q3 25 | $-121.7M | $126.5M | ||
| Q2 25 | $89.0M | $142.1M | ||
| Q1 25 | $61.2M | $151.5M | ||
| Q4 24 | $-228.9M | $120.9M | ||
| Q3 24 | $83.6M | $108.2M | ||
| Q2 24 | $79.6M | $114.1M |
毛利率BXPEHC
| 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BXPEHC
| Q1 26 | — | — | ||
| Q4 25 | — | 16.7% | ||
| Q3 25 | — | 14.9% | ||
| Q2 25 | — | 16.2% | ||
| Q1 25 | — | 16.4% | ||
| Q4 24 | — | 14.3% | ||
| Q3 24 | — | 13.6% | ||
| Q2 24 | — | 14.3% |
净利率BXPEHC
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 9.5% | ||
| Q3 25 | -14.0% | 8.6% | ||
| Q2 25 | 10.2% | 9.7% | ||
| Q1 25 | 7.1% | 10.4% | ||
| Q4 24 | -26.7% | 8.6% | ||
| Q3 24 | 9.7% | 8.0% | ||
| Q2 24 | 9.4% | 8.8% |
每股收益（稀释后）BXPEHC
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $1.43 | ||
| Q3 25 | $-0.77 | $1.24 | ||
| Q2 25 | $0.56 | $1.39 | ||
| Q1 25 | $0.39 | $1.48 | ||
| Q4 24 | $-1.46 | $1.18 | ||
| Q3 24 | $0.53 | $1.06 | ||
| Q2 24 | $0.51 | $1.12 |
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 | $72.2M |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | $7.7B | $2.4B |
| 总资产 | $25.1B | $7.1B |
| 负债/权益比越低杠杆越低 | — | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资BXPEHC
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $72.2M | ||
| Q3 25 | $861.1M | $48.7M | ||
| Q2 25 | $447.0M | $99.1M | ||
| Q1 25 | $398.1M | $95.8M | ||
| Q4 24 | $1.3B | $85.4M | ||
| Q3 24 | $1.4B | $147.8M | ||
| Q2 24 | $685.4M | $154.4M |
总债务BXPEHC
| Q1 26 | — | — | ||
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.7B |
股东权益BXPEHC
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $2.4B | ||
| Q3 25 | $5.0B | $2.4B | ||
| Q2 25 | $5.3B | $2.3B | ||
| Q1 25 | $5.3B | $2.2B | ||
| Q4 24 | $5.4B | $2.1B | ||
| Q3 24 | $5.8B | $2.0B | ||
| Q2 24 | $5.8B | $1.8B |
总资产BXPEHC
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $7.1B | ||
| Q3 25 | $26.0B | $6.9B | ||
| Q2 25 | $25.6B | $6.8B | ||
| Q1 25 | $25.4B | $6.6B | ||
| Q4 24 | $26.1B | $6.5B | ||
| Q3 24 | $26.4B | $6.5B | ||
| Q2 24 | $25.5B | $6.4B |
负债/权益比BXPEHC
| Q1 26 | — | — | ||
| Q4 25 | — | 1.00× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 1.02× | ||
| Q1 25 | — | 1.08× | ||
| Q4 24 | — | 1.14× | ||
| Q3 24 | — | 1.20× | ||
| Q2 24 | — | 1.46× |
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 | — | $346.0M |
| 自由现金流经营现金流 - 资本支出 | — | $116.7M |
| 自由现金流率自由现金流/营收 | — | 7.6% |
| 资本支出强度资本支出/营收 | 1.5% | 14.8% |
| 现金转化率经营现金流/净利润 | — | 2.37× |
| 过去12个月自由现金流最近4个季度 | — | $439.2M |
8季度趋势，按日历期对齐
经营现金流BXPEHC
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $346.0M | ||
| Q3 25 | $274.2M | $270.8M | ||
| Q2 25 | $353.1M | $270.2M | ||
| Q1 25 | $210.0M | $288.6M | ||
| Q4 24 | $383.7M | $278.8M | ||
| Q3 24 | $286.1M | $267.8M | ||
| Q2 24 | $367.1M | $217.4M |
自由现金流BXPEHC
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $116.7M | ||
| Q3 25 | $231.6M | $83.7M | ||
| Q2 25 | $281.5M | $113.3M | ||
| Q1 25 | $152.6M | $125.5M | ||
| Q4 24 | $312.5M | $80.1M | ||
| Q3 24 | $234.5M | $120.3M | ||
| Q2 24 | $332.4M | $60.5M |
自由现金流率BXPEHC
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 7.6% | ||
| Q3 25 | 26.6% | 5.7% | ||
| Q2 25 | 32.4% | 7.8% | ||
| Q1 25 | 17.6% | 8.6% | ||
| Q4 24 | 36.4% | 5.7% | ||
| Q3 24 | 27.3% | 8.9% | ||
| Q2 24 | 39.1% | 4.6% |
资本支出强度BXPEHC
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 14.8% | ||
| Q3 25 | 4.9% | 12.7% | ||
| Q2 25 | 8.2% | 10.8% | ||
| Q1 25 | 6.6% | 11.2% | ||
| Q4 24 | 8.3% | 14.1% | ||
| Q3 24 | 6.0% | 10.9% | ||
| Q2 24 | 4.1% | 12.1% |
现金转化率BXPEHC
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 2.37× | ||
| Q3 25 | — | 2.14× | ||
| Q2 25 | 3.97× | 1.90× | ||
| Q1 25 | 3.43× | 1.90× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | 3.42× | 2.48× | ||
| Q2 24 | 4.61× | 1.91× |
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% |
EHC
| Medicare | $1.0B | 66% |
| Medicare Advantage | $243.1M | 16% |
| Managed Care | $160.7M | 10% |
| Medicaid | $47.0M | 3% |
| Other Income Source | $44.8M | 3% |
| Other Thirdparty Payors | $11.2M | 1% |
| Workers Compensation | $7.6M | 0% |
| Patients | $4.6M | 0% |
