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BXP, Inc.（BXP）与林肯电气（LECO）财务数据对比。点击上方公司名可切换其他公司
林肯电气的季度营收约是BXP, Inc.的1.2倍（$1.1B vs $872.1M），BXP, Inc.净利率更高（15.3% vs 12.6%，领先2.6%），林肯电气同比增速更快（5.5% vs 0.8%），过去两年林肯电气的营收复合增速更高（4.9% 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。
林肯电气是美国跨国焊接产品制造企业，总部位于俄亥俄州欧几里得市，主营弧焊设备、焊接配件、等离子及氧燃料切割设备、焊接机器人系统等，业务覆盖160余个国家和地区，在全球设有42个生产基地，同时在19个国家布局了生产联盟及合资企业。
BXP vs LECO — 直观对比
营收规模更大
LECO
是对方的1.2倍
$872.1M
营收增速更快
LECO
高出4.7%
0.8%
净利率更高
BXP
高出2.6%
12.6%
两年增速更快
LECO
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $1.1B |
| 净利润 | $133.0M | $136.0M |
| 毛利率 | — | 34.7% |
| 营业利润率 | — | 17.1% |
| 净利率 | 15.3% | 12.6% |
| 营收同比 | 0.8% | 5.5% |
| 净利润同比 | 53.0% | -3.0% |
| 每股收益（稀释后） | $1.69 | $2.45 |
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BXPLECO
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $1.1B | ||
| Q3 25 | $871.5M | $1.1B | ||
| Q2 25 | $868.5M | $1.1B | ||
| Q1 25 | $865.2M | $1.0B | ||
| Q4 24 | $858.6M | $1.0B | ||
| Q3 24 | $859.2M | $983.8M | ||
| Q2 24 | $850.5M | $1.0B |
净利润BXPLECO
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $136.0M | ||
| Q3 25 | $-121.7M | $122.6M | ||
| Q2 25 | $89.0M | $143.4M | ||
| Q1 25 | $61.2M | $118.5M | ||
| Q4 24 | $-228.9M | $140.2M | ||
| Q3 24 | $83.6M | $100.8M | ||
| Q2 24 | $79.6M | $101.7M |
毛利率BXPLECO
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 34.7% | ||
| Q3 25 | 59.3% | 36.7% | ||
| Q2 25 | 59.2% | 37.3% | ||
| Q1 25 | 59.2% | 36.4% | ||
| Q4 24 | 59.7% | 36.1% | ||
| Q3 24 | 59.5% | 35.8% | ||
| Q2 24 | 59.8% | 37.6% |
营业利润率BXPLECO
| Q1 26 | — | — | ||
| Q4 25 | — | 17.1% | ||
| Q3 25 | — | 16.6% | ||
| Q2 25 | — | 17.6% | ||
| Q1 25 | — | 16.4% | ||
| Q4 24 | — | 17.3% | ||
| Q3 24 | — | 14.8% | ||
| Q2 24 | — | 14.6% |
净利率BXPLECO
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 12.6% | ||
| Q3 25 | -14.0% | 11.6% | ||
| Q2 25 | 10.2% | 13.2% | ||
| Q1 25 | 7.1% | 11.8% | ||
| Q4 24 | -26.7% | 13.7% | ||
| Q3 24 | 9.7% | 10.2% | ||
| Q2 24 | 9.4% | 10.0% |
每股收益（稀释后）BXPLECO
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $2.45 | ||
| Q3 25 | $-0.77 | $2.21 | ||
| Q2 25 | $0.56 | $2.56 | ||
| Q1 25 | $0.39 | $2.10 | ||
| Q4 24 | $-1.46 | $2.47 | ||
| Q3 24 | $0.53 | $1.77 | ||
| Q2 24 | $0.51 | $1.77 |
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 | $308.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $1.5B |
| 总资产 | $25.1B | $3.8B |
| 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BXPLECO
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $308.8M | ||
| Q3 25 | $861.1M | $293.0M | ||
| Q2 25 | $447.0M | $299.5M | ||
| Q1 25 | $398.1M | $394.7M | ||
| Q4 24 | $1.3B | $377.3M | ||
| Q3 24 | $1.4B | $404.2M | ||
| Q2 24 | $685.4M | $272.7M |
股东权益BXPLECO
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.5B | ||
| Q3 25 | $5.0B | $1.4B | ||
| Q2 25 | $5.3B | $1.4B | ||
| Q1 25 | $5.3B | $1.3B | ||
| Q4 24 | $5.4B | $1.3B | ||
| Q3 24 | $5.8B | $1.3B | ||
| Q2 24 | $5.8B | $1.3B |
总资产BXPLECO
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $3.8B | ||
| Q3 25 | $26.0B | $3.8B | ||
| Q2 25 | $25.6B | $3.7B | ||
| Q1 25 | $25.4B | $3.6B | ||
| Q4 24 | $26.1B | $3.5B | ||
| Q3 24 | $26.4B | $3.7B | ||
| Q2 24 | $25.5B | $3.4B |
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 | — | $95.0M |
| 自由现金流经营现金流 - 资本支出 | — | $52.0M |
| 自由现金流率自由现金流/营收 | — | 4.8% |
| 资本支出强度资本支出/营收 | 1.5% | 4.0% |
| 现金转化率经营现金流/净利润 | — | 0.70× |
| 过去12个月自由现金流最近4个季度 | — | $534.2M |
8季度趋势，按日历期对齐
经营现金流BXPLECO
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $95.0M | ||
| Q3 25 | $274.2M | $236.7M | ||
| Q2 25 | $353.1M | $143.8M | ||
| Q1 25 | $210.0M | $185.7M | ||
| Q4 24 | $383.7M | $95.8M | ||
| Q3 24 | $286.1M | $199.2M | ||
| Q2 24 | $367.1M | $170.7M |
自由现金流BXPLECO
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $52.0M | ||
| Q3 25 | $231.6M | $205.1M | ||
| Q2 25 | $281.5M | $118.4M | ||
| Q1 25 | $152.6M | $158.7M | ||
| Q4 24 | $312.5M | $64.3M | ||
| Q3 24 | $234.5M | $163.5M | ||
| Q2 24 | $332.4M | $147.5M |
自由现金流率BXPLECO
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 4.8% | ||
| Q3 25 | 26.6% | 19.3% | ||
| Q2 25 | 32.4% | 10.9% | ||
| Q1 25 | 17.6% | 15.8% | ||
| Q4 24 | 36.4% | 6.3% | ||
| Q3 24 | 27.3% | 16.6% | ||
| Q2 24 | 39.1% | 14.4% |
资本支出强度BXPLECO
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 4.0% | ||
| Q3 25 | 4.9% | 3.0% | ||
| Q2 25 | 8.2% | 2.3% | ||
| Q1 25 | 6.6% | 2.7% | ||
| Q4 24 | 8.3% | 3.1% | ||
| Q3 24 | 6.0% | 3.6% | ||
| Q2 24 | 4.1% | 2.3% |
现金转化率BXPLECO
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 0.70× | ||
| Q3 25 | — | 1.93× | ||
| Q2 25 | 3.97× | 1.00× | ||
| Q1 25 | 3.43× | 1.57× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | 3.42× | 1.98× | ||
| Q2 24 | 4.61× | 1.68× |
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% |
LECO
| Americas Welding | $681.9M | 63% |
| International Welding | $259.4M | 24% |
| Harris Products Group | $137.4M | 13% |
