vs
BXP, Inc.（BXP）与IAC Inc.（IAC）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IAC Inc.的1.4倍（$872.1M vs $646.0M），BXP, Inc.净利率更高（15.3% vs -11.9%，领先27.1%），BXP, Inc.同比增速更快（0.8% vs -10.5%），过去两年IAC Inc.的营收复合增速更高（1.7% 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。
IAC Inc.是一家美国控股企业，业务覆盖媒体与互联网领域，在全球拥有多个知名品牌。公司前身是1996年成立的HSN Inc.，当时作为家庭购物频道Home Shopping Network和USA电视台的控股主体运营，1999年更名为USA Networks Inc.，2002年将旗下电视业务资产出售给威望迪集团。
BXP vs IAC — 直观对比
营收规模更大
BXP
是对方的1.4倍
$646.0M
营收增速更快
BXP
高出11.3%
-10.5%
净利率更高
BXP
高出27.1%
-11.9%
两年增速更快
IAC
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $646.0M |
| 净利润 | $133.0M | $-76.8M |
| 毛利率 | — | 69.8% |
| 营业利润率 | — | -17.5% |
| 净利率 | 15.3% | -11.9% |
| 营收同比 | 0.8% | -10.5% |
| 净利润同比 | 53.0% | 61.4% |
| 每股收益（稀释后） | $1.69 | $-0.96 |
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BXPIAC
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $646.0M | ||
| Q3 25 | $871.5M | $589.8M | ||
| Q2 25 | $868.5M | $586.9M | ||
| Q1 25 | $865.2M | $570.5M | ||
| Q4 24 | $858.6M | $721.4M | ||
| Q3 24 | $859.2M | $642.0M | ||
| Q2 24 | $850.5M | $634.4M |
净利润BXPIAC
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $-76.8M | ||
| Q3 25 | $-121.7M | $-21.9M | ||
| Q2 25 | $89.0M | $211.5M | ||
| Q1 25 | $61.2M | $-216.8M | ||
| Q4 24 | $-228.9M | $-199.0M | ||
| Q3 24 | $83.6M | $-243.7M | ||
| Q2 24 | $79.6M | $-142.2M |
毛利率BXPIAC
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 69.8% | ||
| Q3 25 | 59.3% | 64.8% | ||
| Q2 25 | 59.2% | 65.6% | ||
| Q1 25 | 59.2% | 64.0% | ||
| Q4 24 | 59.7% | 65.8% | ||
| Q3 24 | 59.5% | 62.1% | ||
| Q2 24 | 59.8% | 60.1% |
营业利润率BXPIAC
| Q1 26 | — | — | ||
| Q4 25 | — | -17.5% | ||
| Q3 25 | — | -3.5% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 6.3% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | -3.4% |
净利率BXPIAC
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | -11.9% | ||
| Q3 25 | -14.0% | -3.7% | ||
| Q2 25 | 10.2% | 36.0% | ||
| Q1 25 | 7.1% | -38.0% | ||
| Q4 24 | -26.7% | -27.6% | ||
| Q3 24 | 9.7% | -38.0% | ||
| Q2 24 | 9.4% | -22.4% |
每股收益（稀释后）BXPIAC
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $-0.96 | ||
| Q3 25 | $-0.77 | $-0.27 | ||
| Q2 25 | $0.56 | $2.57 | ||
| Q1 25 | $0.39 | $-2.64 | ||
| Q4 24 | $-1.46 | $-2.36 | ||
| Q3 24 | $0.53 | $-2.93 | ||
| Q2 24 | $0.51 | $-1.71 |
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 | $960.2M |
| 总债务越低越好 | — | $1.4B |
| 股东权益账面价值 | $7.7B | $4.7B |
| 总资产 | $25.1B | $7.1B |
| 负债/权益比越低杠杆越低 | — | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资BXPIAC
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $960.2M | ||
| Q3 25 | $861.1M | $1.0B | ||
| Q2 25 | $447.0M | $1.1B | ||
| Q1 25 | $398.1M | $1.2B | ||
| Q4 24 | $1.3B | $1.4B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $685.4M | $1.3B |
总债务BXPIAC
| Q1 26 | — | — | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益BXPIAC
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $4.7B | ||
| Q3 25 | $5.0B | $4.8B | ||
| Q2 25 | $5.3B | $4.9B | ||
| Q1 25 | $5.3B | $4.7B | ||
| Q4 24 | $5.4B | $5.6B | ||
| Q3 24 | $5.8B | $5.8B | ||
| Q2 24 | $5.8B | $6.0B |
总资产BXPIAC
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $7.1B | ||
| Q3 25 | $26.0B | $7.2B | ||
| Q2 25 | $25.6B | $7.4B | ||
| Q1 25 | $25.4B | $7.2B | ||
| Q4 24 | $26.1B | $9.7B | ||
| Q3 24 | $26.4B | $9.8B | ||
| Q2 24 | $25.5B | $10.2B |
负债/权益比BXPIAC
| Q1 26 | — | — | ||
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.30× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $36.6M |
| 自由现金流经营现金流 - 资本支出 | — | $31.4M |
| 自由现金流率自由现金流/营收 | — | 4.9% |
| 资本支出强度资本支出/营收 | 1.5% | 0.8% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $44.8M |
8季度趋势，按日历期对齐
经营现金流BXPIAC
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $36.6M | ||
| Q3 25 | $274.2M | $30.1M | ||
| Q2 25 | $353.1M | $-2.8M | ||
| Q1 25 | $210.0M | $63.0K | ||
| Q4 24 | $383.7M | $110.1M | ||
| Q3 24 | $286.1M | $95.3M | ||
| Q2 24 | $367.1M | $85.0M |
自由现金流BXPIAC
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $31.4M | ||
| Q3 25 | $231.6M | $25.3M | ||
| Q2 25 | $281.5M | $-7.2M | ||
| Q1 25 | $152.6M | $-4.6M | ||
| Q4 24 | $312.5M | $104.8M | ||
| Q3 24 | $234.5M | $92.0M | ||
| Q2 24 | $332.4M | $81.6M |
自由现金流率BXPIAC
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 4.9% | ||
| Q3 25 | 26.6% | 4.3% | ||
| Q2 25 | 32.4% | -1.2% | ||
| Q1 25 | 17.6% | -0.8% | ||
| Q4 24 | 36.4% | 14.5% | ||
| Q3 24 | 27.3% | 14.3% | ||
| Q2 24 | 39.1% | 12.9% |
资本支出强度BXPIAC
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 0.8% | ||
| Q3 25 | 4.9% | 0.8% | ||
| Q2 25 | 8.2% | 0.8% | ||
| Q1 25 | 6.6% | 0.8% | ||
| Q4 24 | 8.3% | 0.7% | ||
| Q3 24 | 6.0% | 0.5% | ||
| Q2 24 | 4.1% | 0.5% |
现金转化率BXPIAC
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.97× | -0.01× | ||
| 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% |
IAC
| $168.5M | 26% | |
| Performance Marketing | $101.2M | 16% |
| Care.com | $85.7M | 13% |
| Subscription | $69.5M | 11% |
| Licensing And Other | $43.8M | 7% |
| Consumer Revenue | $43.2M | 7% |
| Advertising | $35.9M | 6% |
| Project And Other Print | $33.6M | 5% |
| Advertising Google | $28.9M | 4% |
| Newsstand | $22.4M | 3% |
| Emerging Other | $19.6M | 3% |
