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BXP, Inc.（BXP）与GENESIS ENERGY LP（GEL）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GENESIS ENERGY LP的2.0倍（$872.1M vs $440.8M），BXP, Inc.净利率更高（15.3% vs 4.5%，领先10.7%），GENESIS ENERGY LP同比增速更快（10.5% vs 0.8%），过去两年BXP, Inc.的营收复合增速更高（1.3% vs 0.7%）
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。
Genesis Energy LP是一家总部位于美国的中游能源合伙企业，主营原油、天然气、成品油及特种工业原料的基础设施运营与物流服务，旗下资产涵盖管道、仓储码头、海运设施及铁路物流枢纽，为北美地区的炼油厂、工业客户及能源分销商提供服务。
BXP vs GEL — 直观对比
营收规模更大
BXP
是对方的2.0倍
$440.8M
营收增速更快
GEL
高出9.7%
0.8%
净利率更高
BXP
高出10.7%
4.5%
两年增速更快
BXP
近两年复合增速
0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $440.8M |
| 净利润 | $133.0M | $19.9M |
| 毛利率 | — | — |
| 营业利润率 | — | 20.4% |
| 净利率 | 15.3% | 4.5% |
| 营收同比 | 0.8% | 10.5% |
| 净利润同比 | 53.0% | 140.2% |
| 每股收益（稀释后） | $1.69 | $0.04 |
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BXPGEL
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $440.8M | ||
| Q3 25 | $871.5M | $414.0M | ||
| Q2 25 | $868.5M | $377.3M | ||
| Q1 25 | $865.2M | $398.3M | ||
| Q4 24 | $858.6M | $398.9M | ||
| Q3 24 | $859.2M | $397.3M | ||
| Q2 24 | $850.5M | $430.2M |
净利润BXPGEL
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $19.9M | ||
| Q3 25 | $-121.7M | $9.2M | ||
| Q2 25 | $89.0M | $-406.0K | ||
| Q1 25 | $61.2M | $-469.1M | ||
| Q4 24 | $-228.9M | $-49.4M | ||
| Q3 24 | $83.6M | $-17.2M | ||
| Q2 24 | $79.6M | $-8.7M |
毛利率BXPGEL
| 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BXPGEL
| Q1 26 | — | — | ||
| Q4 25 | — | 20.4% | ||
| Q3 25 | — | 19.0% | ||
| Q2 25 | — | 17.9% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | 12.2% | ||
| Q2 24 | — | 11.6% |
净利率BXPGEL
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 4.5% | ||
| Q3 25 | -14.0% | 2.2% | ||
| Q2 25 | 10.2% | -0.1% | ||
| Q1 25 | 7.1% | -117.8% | ||
| Q4 24 | -26.7% | -12.4% | ||
| Q3 24 | 9.7% | -4.3% | ||
| Q2 24 | 9.4% | -2.0% |
每股收益（稀释后）BXPGEL
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.04 | ||
| Q3 25 | $-0.77 | $-0.05 | ||
| Q2 25 | $0.56 | $-0.12 | ||
| Q1 25 | $0.39 | $-4.06 | ||
| Q4 24 | $-1.46 | $-0.58 | ||
| Q3 24 | $0.53 | $-0.32 | ||
| Q2 24 | $0.51 | $-0.25 |
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 | $6.4M |
| 总债务越低越好 | — | $3.0B |
| 股东权益账面价值 | $7.7B | — |
| 总资产 | $25.1B | $4.9B |
| 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BXPGEL
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $6.4M | ||
| Q3 25 | $861.1M | $4.9M | ||
| Q2 25 | $447.0M | $4.5M | ||
| Q1 25 | $398.1M | $377.4M | ||
| Q4 24 | $1.3B | $7.4M | ||
| Q3 24 | $1.4B | $13.0M | ||
| Q2 24 | $685.4M | $13.7M |
总债务BXPGEL
| Q1 26 | — | — | ||
| Q4 25 | — | $3.0B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $3.9B |
股东权益BXPGEL
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.3B | — | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.8B | — | ||
| Q2 24 | $5.8B | — |
总资产BXPGEL
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $4.9B | ||
| Q3 25 | $26.0B | $4.9B | ||
| Q2 25 | $25.6B | $4.8B | ||
| Q1 25 | $25.4B | $5.2B | ||
| Q4 24 | $26.1B | $7.0B | ||
| Q3 24 | $26.4B | $7.1B | ||
| Q2 24 | $25.5B | $7.0B |
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 | — | $110.8M |
| 自由现金流经营现金流 - 资本支出 | — | $87.0M |
| 自由现金流率自由现金流/营收 | — | 19.7% |
| 资本支出强度资本支出/营收 | 1.5% | 5.4% |
| 现金转化率经营现金流/净利润 | — | 5.58× |
| 过去12个月自由现金流最近4个季度 | — | $65.9M |
8季度趋势，按日历期对齐
经营现金流BXPGEL
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $110.8M | ||
| Q3 25 | $274.2M | $70.3M | ||
| Q2 25 | $353.1M | $47.0M | ||
| Q1 25 | $210.0M | $24.8M | ||
| Q4 24 | $383.7M | $74.0M | ||
| Q3 24 | $286.1M | $87.3M | ||
| Q2 24 | $367.1M | $104.7M |
自由现金流BXPGEL
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $87.0M | ||
| Q3 25 | $231.6M | $43.3M | ||
| Q2 25 | $281.5M | $-7.6M | ||
| Q1 25 | $152.6M | $-56.8M | ||
| Q4 24 | $312.5M | $-47.1M | ||
| Q3 24 | $234.5M | $-32.3M | ||
| Q2 24 | $332.4M | $-67.5M |
自由现金流率BXPGEL
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 19.7% | ||
| Q3 25 | 26.6% | 10.5% | ||
| Q2 25 | 32.4% | -2.0% | ||
| Q1 25 | 17.6% | -14.3% | ||
| Q4 24 | 36.4% | -11.8% | ||
| Q3 24 | 27.3% | -8.1% | ||
| Q2 24 | 39.1% | -15.7% |
资本支出强度BXPGEL
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 5.4% | ||
| Q3 25 | 4.9% | 6.5% | ||
| Q2 25 | 8.2% | 14.5% | ||
| Q1 25 | 6.6% | 20.5% | ||
| Q4 24 | 8.3% | 30.3% | ||
| Q3 24 | 6.0% | 30.1% | ||
| Q2 24 | 4.1% | 40.0% |
现金转化率BXPGEL
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 5.58× | ||
| Q3 25 | — | 7.63× | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.43× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.42× | — | ||
| Q2 24 | 4.61× | — |
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% |
GEL
| Onshore Facilities And Transportation Revenue | $204.2M | 46% |
| Offshore Pipeline Transportation Revenue | $154.3M | 35% |
| Marine Transportation Revenue | $82.2M | 19% |
