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BXP, Inc.（BXP）与盖尔斯（GES）财务数据对比。点击上方公司名可切换其他公司
BXP, Inc.的季度营收约是盖尔斯的1.1倍（$872.1M vs $791.4M），BXP, Inc.净利率更高（15.3% vs 3.2%，领先12.0%），盖尔斯同比增速更快（7.2% vs 0.8%），过去两年BXP, Inc.的营收复合增速更高（1.3% vs -5.8%）
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。
盖尔斯是美国知名服饰品牌企业，以标志性的黑白风格广告广为人知。除核心服饰产品外，品牌还通过品牌授权模式推出腕表、珠宝、香水、包袋、鞋履等各类时尚配饰，在全球时尚消费市场拥有较高知名度。
BXP vs GES — 直观对比
营收规模更大
BXP
是对方的1.1倍
$791.4M
营收增速更快
GES
高出6.4%
0.8%
净利率更高
BXP
高出12.0%
3.2%
两年增速更快
BXP
近两年复合增速
-5.8%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $791.4M |
| 净利润 | $133.0M | $25.6M |
| 毛利率 | — | 42.5% |
| 营业利润率 | — | 2.9% |
| 净利率 | 15.3% | 3.2% |
| 营收同比 | 0.8% | 7.2% |
| 净利润同比 | 53.0% | 209.6% |
| 每股收益（稀释后） | $1.69 | $0.48 |
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BXPGES
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $791.4M | ||
| Q3 25 | $871.5M | $772.9M | ||
| Q2 25 | $868.5M | $647.8M | ||
| Q1 25 | $865.2M | $932.3M | ||
| Q4 24 | $858.6M | $738.5M | ||
| Q3 24 | $859.2M | $732.6M | ||
| Q2 24 | $850.5M | $591.9M |
净利润BXPGES
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $25.6M | ||
| Q3 25 | $-121.7M | $6.2M | ||
| Q2 25 | $89.0M | $-32.9M | ||
| Q1 25 | $61.2M | $81.4M | ||
| Q4 24 | $-228.9M | $-23.4M | ||
| Q3 24 | $83.6M | $-10.6M | ||
| Q2 24 | $79.6M | $13.0M |
毛利率BXPGES
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 42.5% | ||
| Q3 25 | 59.3% | 42.5% | ||
| Q2 25 | 59.2% | 39.9% | ||
| Q1 25 | 59.2% | 44.1% | ||
| Q4 24 | 59.7% | 43.6% | ||
| Q3 24 | 59.5% | 43.7% | ||
| Q2 24 | 59.8% | 41.9% |
营业利润率BXPGES
| Q1 26 | — | — | ||
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | -5.1% | ||
| Q1 25 | — | 11.1% | ||
| Q4 24 | — | 5.7% | ||
| Q3 24 | — | 6.5% | ||
| Q2 24 | — | -3.4% |
净利率BXPGES
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 3.2% | ||
| Q3 25 | -14.0% | 0.8% | ||
| Q2 25 | 10.2% | -5.1% | ||
| Q1 25 | 7.1% | 8.7% | ||
| Q4 24 | -26.7% | -3.2% | ||
| Q3 24 | 9.7% | -1.4% | ||
| Q2 24 | 9.4% | 2.2% |
每股收益（稀释后）BXPGES
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.48 | ||
| Q3 25 | $-0.77 | $0.12 | ||
| Q2 25 | $0.56 | $-0.65 | ||
| Q1 25 | $0.39 | $1.29 | ||
| Q4 24 | $-1.46 | $-0.47 | ||
| Q3 24 | $0.53 | $-0.28 | ||
| Q2 24 | $0.51 | $0.23 |
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 | $154.2M |
| 总债务越低越好 | — | $299.5M |
| 股东权益账面价值 | $7.7B | $508.5M |
| 总资产 | $25.1B | $3.0B |
| 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BXPGES
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $154.2M | ||
| Q3 25 | $861.1M | $189.6M | ||
| Q2 25 | $447.0M | $151.2M | ||
| Q1 25 | $398.1M | $187.7M | ||
| Q4 24 | $1.3B | $140.9M | ||
| Q3 24 | $1.4B | $218.9M | ||
| Q2 24 | $685.4M | $241.7M |
总债务BXPGES
| Q1 26 | — | — | ||
| Q4 25 | — | $299.5M | ||
| Q3 25 | — | $258.4M | ||
| Q2 25 | — | $241.7M | ||
| Q1 25 | — | $150.7M | ||
| Q4 24 | — | $238.3M | ||
| Q3 24 | — | $187.8M | ||
| Q2 24 | — | $196.9M |
股东权益BXPGES
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $508.5M | ||
| Q3 25 | $5.0B | $487.6M | ||
| Q2 25 | $5.3B | $483.6M | ||
| Q1 25 | $5.3B | $505.0M | ||
| Q4 24 | $5.4B | $450.7M | ||
| Q3 24 | $5.8B | $491.2M | ||
| Q2 24 | $5.8B | $565.5M |
总资产BXPGES
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $3.0B | ||
| Q3 25 | $26.0B | $3.0B | ||
| Q2 25 | $25.6B | $2.9B | ||
| Q1 25 | $25.4B | $2.8B | ||
| Q4 24 | $26.1B | $2.8B | ||
| Q3 24 | $26.4B | $2.8B | ||
| Q2 24 | $25.5B | $2.7B |
负债/权益比BXPGES
| Q1 26 | — | — | ||
| Q4 25 | — | 0.59× | ||
| Q3 25 | — | 0.53× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 0.53× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.35× |
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 | — | $-39.5M |
| 自由现金流经营现金流 - 资本支出 | — | $-56.3M |
| 自由现金流率自由现金流/营收 | — | -7.1% |
| 资本支出强度资本支出/营收 | 1.5% | 2.1% |
| 现金转化率经营现金流/净利润 | — | -1.54× |
| 过去12个月自由现金流最近4个季度 | — | $62.5M |
8季度趋势，按日历期对齐
经营现金流BXPGES
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $-39.5M | ||
| Q3 25 | $274.2M | $74.9M | ||
| Q2 25 | $353.1M | $-73.4M | ||
| Q1 25 | $210.0M | $183.2M | ||
| Q4 24 | $383.7M | $-83.3M | ||
| Q3 24 | $286.1M | $44.7M | ||
| Q2 24 | $367.1M | $-22.9M |
自由现金流BXPGES
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $-56.3M | ||
| Q3 25 | $231.6M | $53.4M | ||
| Q2 25 | $281.5M | $-95.3M | ||
| Q1 25 | $152.6M | $160.7M | ||
| Q4 24 | $312.5M | $-105.4M | ||
| Q3 24 | $234.5M | $24.3M | ||
| Q2 24 | $332.4M | $-44.0M |
自由现金流率BXPGES
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | -7.1% | ||
| Q3 25 | 26.6% | 6.9% | ||
| Q2 25 | 32.4% | -14.7% | ||
| Q1 25 | 17.6% | 17.2% | ||
| Q4 24 | 36.4% | -14.3% | ||
| Q3 24 | 27.3% | 3.3% | ||
| Q2 24 | 39.1% | -7.4% |
资本支出强度BXPGES
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 2.1% | ||
| Q3 25 | 4.9% | 2.8% | ||
| Q2 25 | 8.2% | 3.4% | ||
| Q1 25 | 6.6% | 2.4% | ||
| Q4 24 | 8.3% | 3.0% | ||
| Q3 24 | 6.0% | 2.8% | ||
| Q2 24 | 4.1% | 3.6% |
现金转化率BXPGES
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | -1.54× | ||
| Q3 25 | — | 12.00× | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.43× | 2.25× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.42× | — | ||
| Q2 24 | 4.61× | -1.76× |
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% |
GES
| Products | $760.3M | 96% |
| Royalty | $31.1M | 4% |
