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BXP, Inc.（BXP）与GLADSTONE COMMERCIAL CORP（GOOD）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GLADSTONE COMMERCIAL CORP的20.2倍（$877.1M vs $43.5M）。BXP, Inc.净利率更高（28.3% vs 12.4%，领先15.9%）。GLADSTONE COMMERCIAL CORP同比增速更快（16.3% vs 2.2%）。过去两年GLADSTONE COMMERCIAL CORP的营收复合增速更高（10.3% vs 2.2%）
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。
格拉德斯通商业公司是一家上市房地产投资信托，主要在美国境内收购、持有及运营多元化的工业与商业地产组合，面向制造、物流、医疗、专业服务等领域的租户提供长期净租赁服务，核心客群为中小规模企业。
BXP vs GOOD — 直观对比
营收规模更大
BXP
是对方的20.2倍
$43.5M
营收增速更快
GOOD
高出14.1%
2.2%
净利率更高
BXP
高出15.9%
12.4%
两年增速更快
GOOD
近两年复合增速
2.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $877.1M | $43.5M |
| 净利润 | $248.4M | $5.4M |
| 毛利率 | 58.8% | — |
| 营业利润率 | — | — |
| 净利率 | 28.3% | 12.4% |
| 营收同比 | 2.2% | 16.3% |
| 净利润同比 | 208.5% | -25.1% |
| 每股收益（稀释后） | $1.56 | $0.05 |
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BXPGOOD
| Q4 25 | $877.1M | $43.5M | ||
| Q3 25 | $871.5M | $40.8M | ||
| Q2 25 | $868.5M | $39.5M | ||
| Q1 25 | $865.2M | $37.5M | ||
| Q4 24 | $858.6M | $37.4M | ||
| Q3 24 | $859.2M | $39.2M | ||
| Q2 24 | $850.5M | $37.1M | ||
| Q1 24 | $839.4M | $35.7M |
净利润BXPGOOD
| Q4 25 | $248.4M | $5.4M | ||
| Q3 25 | $-121.7M | $4.1M | ||
| Q2 25 | $89.0M | $4.6M | ||
| Q1 25 | $61.2M | $5.1M | ||
| Q4 24 | $-228.9M | $7.2M | ||
| Q3 24 | $83.6M | $11.7M | ||
| Q2 24 | $79.6M | $1.6M | ||
| Q1 24 | $79.9M | $3.5M |
毛利率BXPGOOD
| 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% | — | ||
| Q1 24 | 60.6% | — |
净利率BXPGOOD
| Q4 25 | 28.3% | 12.4% | ||
| Q3 25 | -14.0% | 10.1% | ||
| Q2 25 | 10.2% | 11.7% | ||
| Q1 25 | 7.1% | 13.7% | ||
| Q4 24 | -26.7% | 19.2% | ||
| Q3 24 | 9.7% | 29.8% | ||
| Q2 24 | 9.4% | 4.3% | ||
| Q1 24 | 9.5% | 9.9% |
每股收益（稀释后）BXPGOOD
| Q4 25 | $1.56 | $0.05 | ||
| Q3 25 | $-0.77 | $0.02 | ||
| Q2 25 | $0.56 | $0.03 | ||
| Q1 25 | $0.39 | $0.04 | ||
| Q4 24 | $-1.46 | $0.10 | ||
| Q3 24 | $0.53 | $0.20 | ||
| Q2 24 | $0.51 | $-0.04 | ||
| Q1 24 | $0.51 | $0.01 |
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 | $1.5B | $10.8M |
| 总债务越低越好 | — | $843.5M |
| 股东权益账面价值 | $5.1B | $171.8M |
| 总资产 | $26.2B | $1.2B |
| 负债/权益比越低杠杆越低 | — | 4.91× |
8季度趋势，按日历期对齐
现金及短期投资BXPGOOD
| Q4 25 | $1.5B | $10.8M | ||
| Q3 25 | $861.1M | $18.4M | ||
| Q2 25 | $447.0M | $11.7M | ||
| Q1 25 | $398.1M | $10.4M | ||
| Q4 24 | $1.3B | $11.0M | ||
| Q3 24 | $1.4B | $10.5M | ||
| Q2 24 | $685.4M | $10.4M | ||
| Q1 24 | $701.7M | $10.5M |
总债务BXPGOOD
| Q4 25 | — | $843.5M | ||
| Q3 25 | — | $843.3M | ||
| Q2 25 | — | $794.4M | ||
| Q1 25 | — | $740.7M | ||
| Q4 24 | — | $693.4M | ||
| Q3 24 | — | $692.6M | ||
| Q2 24 | — | $722.5M | ||
| Q1 24 | — | $719.4M |
股东权益BXPGOOD
| Q4 25 | $5.1B | $171.8M | ||
| Q3 25 | $5.0B | $184.8M | ||
| Q2 25 | $5.3B | $177.2M | ||
| Q1 25 | $5.3B | $183.2M | ||
| Q4 24 | $5.4B | $171.2M | ||
| Q3 24 | $5.8B | $168.9M | ||
| Q2 24 | $5.8B | $145.7M | ||
| Q1 24 | $5.9B | $147.3M |
总资产BXPGOOD
| Q4 25 | $26.2B | $1.2B | ||
| Q3 25 | $26.0B | $1.3B | ||
| Q2 25 | $25.6B | $1.2B | ||
| Q1 25 | $25.4B | $1.2B | ||
| Q4 24 | $26.1B | $1.1B | ||
| Q3 24 | $26.4B | $1.1B | ||
| Q2 24 | $25.5B | $1.1B | ||
| Q1 24 | $25.5B | $1.1B |
负债/权益比BXPGOOD
| Q4 25 | — | 4.91× | ||
| Q3 25 | — | 4.56× | ||
| Q2 25 | — | 4.48× | ||
| Q1 25 | — | 4.04× | ||
| Q4 24 | — | 4.05× | ||
| Q3 24 | — | 4.10× | ||
| Q2 24 | — | 4.96× | ||
| Q1 24 | — | 4.88× |
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 | $407.8M | $15.7M |
| 自由现金流经营现金流 - 资本支出 | $362.7M | — |
| 自由现金流率自由现金流/营收 | 41.4% | — |
| 资本支出强度资本支出/营收 | 5.1% | — |
| 现金转化率经营现金流/净利润 | 1.64× | 2.92× |
| 过去12个月自由现金流最近4个季度 | $1.0B | — |
8季度趋势，按日历期对齐
经营现金流BXPGOOD
| Q4 25 | $407.8M | $15.7M | ||
| Q3 25 | $274.2M | $18.9M | ||
| Q2 25 | $353.1M | $35.8M | ||
| Q1 25 | $210.0M | $17.7M | ||
| Q4 24 | $383.7M | $22.8M | ||
| Q3 24 | $286.1M | $5.5M | ||
| Q2 24 | $367.1M | $13.6M | ||
| Q1 24 | $197.6M | $15.0M |
自由现金流BXPGOOD
| 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 | — | ||
| Q1 24 | $165.5M | — |
自由现金流率BXPGOOD
| 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% | — | ||
| Q1 24 | 19.7% | — |
资本支出强度BXPGOOD
| 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% | — | ||
| Q1 24 | 3.8% | — |
现金转化率BXPGOOD
| Q4 25 | 1.64× | 2.92× | ||
| Q3 25 | — | 4.57× | ||
| Q2 25 | 3.97× | 7.74× | ||
| Q1 25 | 3.43× | 3.44× | ||
| Q4 24 | — | 3.17× | ||
| Q3 24 | 3.42× | 0.47× | ||
| Q2 24 | 4.61× | 8.44× | ||
| Q1 24 | 2.47× | 4.26× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
