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BXP, Inc.（BXP）与孩之宝（HAS）财务数据对比。点击上方公司名可切换其他公司
孩之宝的季度营收约是BXP, Inc.的1.7倍（$1.4B vs $872.1M），BXP, Inc.净利率更高（15.3% vs 13.9%，领先1.3%），孩之宝同比增速更快（31.3% vs 0.8%），过去两年孩之宝的营收复合增速更高（38.2% 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。
孩之宝是1923年12月6日成立的美国跨国玩具制造与娱乐控股企业，总部位于罗德岛州波塔基特。旗下拥有Kenner、米尔顿·布拉德利、派克兄弟、威世智等知名品牌，持有大量热门IP商标权，业务覆盖玩具生产、游戏开发、娱乐内容出品等多个领域。
BXP vs HAS — 直观对比
营收规模更大
HAS
是对方的1.7倍
$872.1M
营收增速更快
HAS
高出30.5%
0.8%
净利率更高
BXP
高出1.3%
13.9%
两年增速更快
HAS
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $1.4B |
| 净利润 | $133.0M | $201.6M |
| 毛利率 | — | 68.7% |
| 营业利润率 | — | 20.6% |
| 净利率 | 15.3% | 13.9% |
| 营收同比 | 0.8% | 31.3% |
| 净利润同比 | 53.0% | 687.8% |
| 每股收益（稀释后） | $1.69 | $1.46 |
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BXPHAS
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $1.4B | ||
| Q3 25 | $871.5M | $1.4B | ||
| Q2 25 | $868.5M | $980.8M | ||
| Q1 25 | $865.2M | $887.1M | ||
| Q4 24 | $858.6M | $1.1B | ||
| Q3 24 | $859.2M | $1.3B | ||
| Q2 24 | $850.5M | $995.3M |
净利润BXPHAS
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $201.6M | ||
| Q3 25 | $-121.7M | $233.2M | ||
| Q2 25 | $89.0M | $-855.8M | ||
| Q1 25 | $61.2M | $98.6M | ||
| Q4 24 | $-228.9M | $-34.3M | ||
| Q3 24 | $83.6M | $223.2M | ||
| Q2 24 | $79.6M | $138.5M |
毛利率BXPHAS
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 68.7% | ||
| Q3 25 | 59.3% | 70.1% | ||
| Q2 25 | 59.2% | 77.0% | ||
| Q1 25 | 59.2% | 76.9% | ||
| Q4 24 | 59.7% | 67.4% | ||
| Q3 24 | 59.5% | 70.4% | ||
| Q2 24 | 59.8% | 76.1% |
营业利润率BXPHAS
| Q1 26 | — | — | ||
| Q4 25 | — | 20.6% | ||
| Q3 25 | — | 24.6% | ||
| Q2 25 | — | -81.4% | ||
| Q1 25 | — | 19.2% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | — | 23.6% | ||
| Q2 24 | — | 21.3% |
净利率BXPHAS
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 13.9% | ||
| Q3 25 | -14.0% | 16.8% | ||
| Q2 25 | 10.2% | -87.3% | ||
| Q1 25 | 7.1% | 11.1% | ||
| Q4 24 | -26.7% | -3.1% | ||
| Q3 24 | 9.7% | 17.4% | ||
| Q2 24 | 9.4% | 13.9% |
每股收益（稀释后）BXPHAS
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $1.46 | ||
| Q3 25 | $-0.77 | $1.64 | ||
| Q2 25 | $0.56 | $-6.10 | ||
| Q1 25 | $0.39 | $0.70 | ||
| Q4 24 | $-1.46 | $-0.25 | ||
| Q3 24 | $0.53 | $1.59 | ||
| Q2 24 | $0.51 | $0.99 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $565.5M |
| 总资产 | $25.1B | $5.6B |
| 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BXPHAS
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $861.1M | — | ||
| Q2 25 | $447.0M | — | ||
| Q1 25 | $398.1M | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $685.4M | — |
股东权益BXPHAS
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $565.5M | ||
| Q3 25 | $5.0B | $433.8M | ||
| Q2 25 | $5.3B | $269.7M | ||
| Q1 25 | $5.3B | $1.2B | ||
| Q4 24 | $5.4B | $1.2B | ||
| Q3 24 | $5.8B | $1.3B | ||
| Q2 24 | $5.8B | $1.2B |
总资产BXPHAS
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $5.6B | ||
| Q3 25 | $26.0B | $5.5B | ||
| Q2 25 | $25.6B | $5.2B | ||
| Q1 25 | $25.4B | $6.0B | ||
| Q4 24 | $26.1B | $6.3B | ||
| Q3 24 | $26.4B | $7.2B | ||
| Q2 24 | $25.5B | $6.9B |
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 | — | $403.2M |
| 自由现金流经营现金流 - 资本支出 | — | $389.5M |
| 自由现金流率自由现金流/营收 | — | 26.9% |
| 资本支出强度资本支出/营收 | 1.5% | 0.9% |
| 现金转化率经营现金流/净利润 | — | 2.00× |
| 过去12个月自由现金流最近4个季度 | — | $829.9M |
8季度趋势，按日历期对齐
经营现金流BXPHAS
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $403.2M | ||
| Q3 25 | $274.2M | $280.6M | ||
| Q2 25 | $353.1M | $71.3M | ||
| Q1 25 | $210.0M | $138.1M | ||
| Q4 24 | $383.7M | $259.8M | ||
| Q3 24 | $286.1M | $222.5M | ||
| Q2 24 | $367.1M | $187.3M |
自由现金流BXPHAS
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $389.5M | ||
| Q3 25 | $231.6M | $260.9M | ||
| Q2 25 | $281.5M | $55.2M | ||
| Q1 25 | $152.6M | $124.3M | ||
| Q4 24 | $312.5M | $200.8M | ||
| Q3 24 | $234.5M | $174.0M | ||
| Q2 24 | $332.4M | $135.4M |
自由现金流率BXPHAS
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 26.9% | ||
| Q3 25 | 26.6% | 18.8% | ||
| Q2 25 | 32.4% | 5.6% | ||
| Q1 25 | 17.6% | 14.0% | ||
| Q4 24 | 36.4% | 18.2% | ||
| Q3 24 | 27.3% | 13.6% | ||
| Q2 24 | 39.1% | 13.6% |
资本支出强度BXPHAS
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 0.9% | ||
| Q3 25 | 4.9% | 1.4% | ||
| Q2 25 | 8.2% | 1.6% | ||
| Q1 25 | 6.6% | 1.6% | ||
| Q4 24 | 8.3% | 5.4% | ||
| Q3 24 | 6.0% | 3.8% | ||
| Q2 24 | 4.1% | 5.2% |
现金转化率BXPHAS
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 2.00× | ||
| Q3 25 | — | 1.20× | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.43× | 1.40× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.42× | 1.00× | ||
| Q2 24 | 4.61× | 1.35× |
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% |
HAS
| Grow Brands | $1.1B | 75% |
| Optimize Brands | $188.7M | 13% |
| Digital And Licensing Gaming | $135.7M | 9% |
| Class Of Principal Product Family Brands | $13.1M | 1% |
| Filmand TV | $2.4M | 0% |
