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BXP, Inc.（BXP）与第一太阳能（FSLR）财务数据对比。点击上方公司名可切换其他公司
第一太阳能的季度营收约是BXP, Inc.的1.9倍（$1.7B vs $872.1M），第一太阳能净利率更高（31.0% vs 15.3%，领先15.7%），第一太阳能同比增速更快（11.1% vs 0.8%），过去两年第一太阳能的营收复合增速更高（45.6% 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。
第一太阳能是美国上市光伏面板制造商，1990年成立时名为Solar Cells, Inc.，1999年被True North Partners收购后改为现名。公司采用碲化镉（CdTe）半导体技术生产刚性薄膜光伏面板，旗下所有生产基地均提供退役面板回收服务。
BXP vs FSLR — 直观对比
营收规模更大
FSLR
是对方的1.9倍
$872.1M
营收增速更快
FSLR
高出10.3%
0.8%
净利率更高
FSLR
高出15.7%
15.3%
两年增速更快
FSLR
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $1.7B |
| 净利润 | $133.0M | $520.9M |
| 毛利率 | — | 39.5% |
| 营业利润率 | — | 32.6% |
| 净利率 | 15.3% | 31.0% |
| 营收同比 | 0.8% | 11.1% |
| 净利润同比 | 53.0% | 32.5% |
| 每股收益（稀释后） | $1.69 | $4.84 |
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BXPFSLR
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $1.7B | ||
| Q3 25 | $871.5M | $1.6B | ||
| Q2 25 | $868.5M | $1.1B | ||
| Q1 25 | $865.2M | $844.6M | ||
| Q4 24 | $858.6M | $1.5B | ||
| Q3 24 | $859.2M | $887.7M | ||
| Q2 24 | $850.5M | $1.0B |
净利润BXPFSLR
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $520.9M | ||
| Q3 25 | $-121.7M | $455.9M | ||
| Q2 25 | $89.0M | $341.9M | ||
| Q1 25 | $61.2M | $209.5M | ||
| Q4 24 | $-228.9M | $393.1M | ||
| Q3 24 | $83.6M | $313.0M | ||
| Q2 24 | $79.6M | $349.4M |
毛利率BXPFSLR
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 39.5% | ||
| Q3 25 | 59.3% | 38.3% | ||
| Q2 25 | 59.2% | 45.6% | ||
| Q1 25 | 59.2% | 40.8% | ||
| Q4 24 | 59.7% | 37.5% | ||
| Q3 24 | 59.5% | 50.2% | ||
| Q2 24 | 59.8% | 49.4% |
营业利润率BXPFSLR
| Q1 26 | — | — | ||
| Q4 25 | — | 32.6% | ||
| Q3 25 | — | 29.2% | ||
| Q2 25 | — | 33.0% | ||
| Q1 25 | — | 26.2% | ||
| Q4 24 | — | 30.2% | ||
| Q3 24 | — | 36.3% | ||
| Q2 24 | — | 36.9% |
净利率BXPFSLR
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 31.0% | ||
| Q3 25 | -14.0% | 28.6% | ||
| Q2 25 | 10.2% | 31.2% | ||
| Q1 25 | 7.1% | 24.8% | ||
| Q4 24 | -26.7% | 26.0% | ||
| Q3 24 | 9.7% | 35.3% | ||
| Q2 24 | 9.4% | 34.6% |
每股收益（稀释后）BXPFSLR
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $4.84 | ||
| Q3 25 | $-0.77 | $4.24 | ||
| Q2 25 | $0.56 | $3.18 | ||
| Q1 25 | $0.39 | $1.95 | ||
| Q4 24 | $-1.46 | $3.66 | ||
| Q3 24 | $0.53 | $2.91 | ||
| Q2 24 | $0.51 | $3.25 |
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 | $2.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $9.5B |
| 总资产 | $25.1B | $13.3B |
| 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BXPFSLR
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $2.8B | ||
| Q3 25 | $861.1M | $2.0B | ||
| Q2 25 | $447.0M | $1.1B | ||
| Q1 25 | $398.1M | $837.6M | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $685.4M | $1.7B |
股东权益BXPFSLR
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $9.5B | ||
| Q3 25 | $5.0B | $9.0B | ||
| Q2 25 | $5.3B | $8.5B | ||
| Q1 25 | $5.3B | $8.2B | ||
| Q4 24 | $5.4B | $8.0B | ||
| Q3 24 | $5.8B | $7.6B | ||
| Q2 24 | $5.8B | $7.3B |
总资产BXPFSLR
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $13.3B | ||
| Q3 25 | $26.0B | $13.5B | ||
| Q2 25 | $25.6B | $12.9B | ||
| Q1 25 | $25.4B | $12.1B | ||
| Q4 24 | $26.1B | $12.1B | ||
| Q3 24 | $26.4B | $11.4B | ||
| Q2 24 | $25.5B | $11.0B |
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 | — | $1.2B |
| 自由现金流经营现金流 - 资本支出 | — | $1.1B |
| 自由现金流率自由现金流/营收 | — | 63.6% |
| 资本支出强度资本支出/营收 | 1.5% | 10.2% |
| 现金转化率经营现金流/净利润 | — | 2.38× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流BXPFSLR
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $1.2B | ||
| Q3 25 | $274.2M | $1.3B | ||
| Q2 25 | $353.1M | $149.6M | ||
| Q1 25 | $210.0M | $-608.0M | ||
| Q4 24 | $383.7M | $811.0M | ||
| Q3 24 | $286.1M | $-53.7M | ||
| Q2 24 | $367.1M | $193.0M |
自由现金流BXPFSLR
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $1.1B | ||
| Q3 25 | $231.6M | $1.1B | ||
| Q2 25 | $281.5M | $-138.6M | ||
| Q1 25 | $152.6M | $-813.9M | ||
| Q4 24 | $312.5M | $497.5M | ||
| Q3 24 | $234.5M | $-487.7M | ||
| Q2 24 | $332.4M | $-172.1M |
自由现金流率BXPFSLR
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 63.6% | ||
| Q3 25 | 26.6% | 67.1% | ||
| Q2 25 | 32.4% | -12.6% | ||
| Q1 25 | 17.6% | -96.4% | ||
| Q4 24 | 36.4% | 32.9% | ||
| Q3 24 | 27.3% | -54.9% | ||
| Q2 24 | 39.1% | -17.0% |
资本支出强度BXPFSLR
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 10.2% | ||
| Q3 25 | 4.9% | 12.8% | ||
| Q2 25 | 8.2% | 26.3% | ||
| Q1 25 | 6.6% | 24.4% | ||
| Q4 24 | 8.3% | 20.7% | ||
| Q3 24 | 6.0% | 48.9% | ||
| Q2 24 | 4.1% | 36.1% |
现金转化率BXPFSLR
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 2.38× | ||
| Q3 25 | — | 2.79× | ||
| Q2 25 | 3.97× | 0.44× | ||
| Q1 25 | 3.43× | -2.90× | ||
| Q4 24 | — | 2.06× | ||
| Q3 24 | 3.42× | -0.17× | ||
| Q2 24 | 4.61× | 0.55× |
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% |
FSLR
暂无分部数据
