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BXP, Inc.（BXP）与Fidelity National Financial, Inc.（FNF）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Fidelity National Financial, Inc.的1.6倍（$872.1M vs $544.0M），BXP, Inc.净利率更高（15.3% vs -21.5%，领先36.8%），Fidelity National Financial, Inc.同比增速更快（10.3% vs 0.8%），过去两年Fidelity National Financial, Inc.的营收复合增速更高（13.7% 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。
富达国民金融是美国财富500强企业，主要面向房地产与抵押贷款行业提供产权保险及交割服务，2019年其产权及房地产业务相关年度营收约为84.69亿美元，是全球领先的产权保险服务供应商。
BXP vs FNF — 直观对比
营收规模更大
BXP
是对方的1.6倍
$544.0M
营收增速更快
FNF
高出9.5%
0.8%
净利率更高
BXP
高出36.8%
-21.5%
两年增速更快
FNF
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $544.0M |
| 净利润 | $133.0M | $-117.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 82.9% |
| 净利率 | 15.3% | -21.5% |
| 营收同比 | 0.8% | 10.3% |
| 净利润同比 | 53.0% | -126.0% |
| 每股收益（稀释后） | $1.69 | $-0.44 |
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BXPFNF
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $544.0M | ||
| Q3 25 | $871.5M | $553.0M | ||
| Q2 25 | $868.5M | $547.0M | ||
| Q1 25 | $865.2M | $455.0M | ||
| Q4 24 | $858.6M | $493.0M | ||
| Q3 24 | $859.2M | $506.0M | ||
| Q2 24 | $850.5M | $504.0M |
净利润BXPFNF
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $-117.0M | ||
| Q3 25 | $-121.7M | $358.0M | ||
| Q2 25 | $89.0M | $278.0M | ||
| Q1 25 | $61.2M | $83.0M | ||
| Q4 24 | $-228.9M | $450.0M | ||
| Q3 24 | $83.6M | $266.0M | ||
| Q2 24 | $79.6M | $306.0M |
毛利率BXPFNF
| 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BXPFNF
| Q1 26 | — | — | ||
| Q4 25 | — | 82.9% | ||
| Q3 25 | — | 81.9% | ||
| Q2 25 | — | 69.8% | ||
| Q1 25 | — | 24.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 61.9% | ||
| Q2 24 | — | 90.9% |
净利率BXPFNF
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | -21.5% | ||
| Q3 25 | -14.0% | 64.7% | ||
| Q2 25 | 10.2% | 50.8% | ||
| Q1 25 | 7.1% | 18.2% | ||
| Q4 24 | -26.7% | 91.3% | ||
| Q3 24 | 9.7% | 52.6% | ||
| Q2 24 | 9.4% | 60.7% |
每股收益（稀释后）BXPFNF
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $-0.44 | ||
| Q3 25 | $-0.77 | $1.33 | ||
| Q2 25 | $0.56 | $1.02 | ||
| Q1 25 | $0.39 | $0.30 | ||
| Q4 24 | $-1.46 | $1.65 | ||
| Q3 24 | $0.53 | $0.97 | ||
| 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 | $2.6B |
| 总债务越低越好 | — | $4.4B |
| 股东权益账面价值 | $7.7B | $7.4B |
| 总资产 | $25.1B | $109.0B |
| 负债/权益比越低杠杆越低 | — | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资BXPFNF
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $2.6B | ||
| Q3 25 | $861.1M | $3.5B | ||
| Q2 25 | $447.0M | $3.3B | ||
| Q1 25 | $398.1M | $4.5B | ||
| Q4 24 | $1.3B | $3.5B | ||
| Q3 24 | $1.4B | $5.0B | ||
| Q2 24 | $685.4M | $4.9B |
总债务BXPFNF
| Q1 26 | — | — | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | — | $4.4B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $4.2B |
股东权益BXPFNF
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $7.4B | ||
| Q3 25 | $5.0B | $8.4B | ||
| Q2 25 | $5.3B | $7.9B | ||
| Q1 25 | $5.3B | $7.9B | ||
| Q4 24 | $5.4B | $7.8B | ||
| Q3 24 | $5.8B | $8.1B | ||
| Q2 24 | $5.8B | $7.3B |
总资产BXPFNF
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $109.0B | ||
| Q3 25 | $26.0B | $106.6B | ||
| Q2 25 | $25.6B | $102.3B | ||
| Q1 25 | $25.4B | $98.2B | ||
| Q4 24 | $26.1B | $95.4B | ||
| Q3 24 | $26.4B | $94.7B | ||
| Q2 24 | $25.5B | $88.8B |
负债/权益比BXPFNF
| Q1 26 | — | — | ||
| Q4 25 | — | 0.59× | ||
| Q3 25 | — | 0.53× | ||
| Q2 25 | — | 0.56× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.56× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.58× |
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 | — | $1.5B |
| 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 | — | — |
| 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BXPFNF
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $1.5B | ||
| Q3 25 | $274.2M | $1.3B | ||
| Q2 25 | $353.1M | $1.9B | ||
| Q1 25 | $210.0M | $1.1B | ||
| Q4 24 | $383.7M | $1.5B | ||
| Q3 24 | $286.1M | $2.4B | ||
| Q2 24 | $367.1M | $1.4B |
自由现金流BXPFNF
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | — | ||
| Q3 25 | $231.6M | — | ||
| Q2 25 | $281.5M | — | ||
| Q1 25 | $152.6M | — | ||
| Q4 24 | $312.5M | — | ||
| Q3 24 | $234.5M | — | ||
| Q2 24 | $332.4M | — |
自由现金流率BXPFNF
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | — | ||
| Q3 25 | 26.6% | — | ||
| Q2 25 | 32.4% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 27.3% | — | ||
| Q2 24 | 39.1% | — |
资本支出强度BXPFNF
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | — | ||
| Q3 25 | 4.9% | — | ||
| Q2 25 | 8.2% | — | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 4.1% | — |
现金转化率BXPFNF
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | 3.66× | ||
| Q2 25 | 3.97× | 6.82× | ||
| Q1 25 | 3.43× | 13.43× | ||
| Q4 24 | — | 3.32× | ||
| Q3 24 | 3.42× | 8.89× | ||
| Q2 24 | 4.61× | 4.45× |
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% |
FNF
| Escrow Fees | $241.0M | 44% |
| Other Title Related Fees And Income | $182.0M | 33% |
| Service Link Excluding Title Premiums Escrow Fees And Subservicing Fees | $87.0M | 16% |
| Insurance Contracts Home Warranty | $31.0M | 6% |
