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BXP, Inc.（BXP）与朗美通（LITE）财务数据对比。点击上方公司名可切换其他公司
BXP, Inc.的季度营收约是朗美通的1.3倍（$872.1M vs $665.5M），BXP, Inc.净利率更高（15.3% vs 11.8%，领先3.5%），朗美通同比增速更快（65.5% vs 0.8%），过去两年朗美通的营收复合增速更高（34.8% 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。
朗美通控股（Lumentum Holdings Inc.）是全球知名光电产品供应商，前身为美国捷迪讯（JDSU）旗下光电器件及激光业务板块，2015年8月随捷迪讯分拆独立运营，总部位于美国加利福尼亚州米尔皮塔斯，主营光通信网络设备、激光器、定制光学解决方案等多元产品。
BXP vs LITE — 直观对比
营收规模更大
BXP
是对方的1.3倍
$665.5M
营收增速更快
LITE
高出64.7%
0.8%
净利率更高
BXP
高出3.5%
11.8%
两年增速更快
LITE
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $665.5M |
| 净利润 | $133.0M | $78.2M |
| 毛利率 | — | 36.1% |
| 营业利润率 | — | 9.7% |
| 净利率 | 15.3% | 11.8% |
| 营收同比 | 0.8% | 65.5% |
| 净利润同比 | 53.0% | 228.4% |
| 每股收益（稀释后） | $1.69 | $0.89 |
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BXPLITE
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $665.5M | ||
| Q3 25 | $871.5M | $533.8M | ||
| Q2 25 | $868.5M | $480.7M | ||
| Q1 25 | $865.2M | $425.2M | ||
| Q4 24 | $858.6M | $402.2M | ||
| Q3 24 | $859.2M | $336.9M | ||
| Q2 24 | $850.5M | $308.3M |
净利润BXPLITE
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $78.2M | ||
| Q3 25 | $-121.7M | $4.2M | ||
| Q2 25 | $89.0M | $213.3M | ||
| Q1 25 | $61.2M | $-44.1M | ||
| Q4 24 | $-228.9M | $-60.9M | ||
| Q3 24 | $83.6M | $-82.4M | ||
| Q2 24 | $79.6M | $-252.5M |
毛利率BXPLITE
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 36.1% | ||
| Q3 25 | 59.3% | 34.0% | ||
| Q2 25 | 59.2% | 33.3% | ||
| Q1 25 | 59.2% | 28.8% | ||
| Q4 24 | 59.7% | 24.8% | ||
| Q3 24 | 59.5% | 23.1% | ||
| Q2 24 | 59.8% | 16.6% |
营业利润率BXPLITE
| Q1 26 | — | — | ||
| Q4 25 | — | 9.7% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | -1.7% | ||
| Q1 25 | — | -8.9% | ||
| Q4 24 | — | -12.8% | ||
| Q3 24 | — | -24.5% | ||
| Q2 24 | — | -43.3% |
净利率BXPLITE
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 11.8% | ||
| Q3 25 | -14.0% | 0.8% | ||
| Q2 25 | 10.2% | 44.4% | ||
| Q1 25 | 7.1% | -10.4% | ||
| Q4 24 | -26.7% | -15.1% | ||
| Q3 24 | 9.7% | -24.5% | ||
| Q2 24 | 9.4% | -81.9% |
每股收益（稀释后）BXPLITE
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.89 | ||
| Q3 25 | $-0.77 | $0.05 | ||
| Q2 25 | $0.56 | $3.10 | ||
| Q1 25 | $0.39 | $-0.64 | ||
| Q4 24 | $-1.46 | $-0.88 | ||
| Q3 24 | $0.53 | $-1.21 | ||
| Q2 24 | $0.51 | $-3.75 |
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 | $1.2B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $846.6M |
| 总资产 | $25.1B | $4.8B |
| 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BXPLITE
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $861.1M | $1.1B | ||
| Q2 25 | $447.0M | $877.1M | ||
| Q1 25 | $398.1M | $866.7M | ||
| Q4 24 | $1.3B | $896.7M | ||
| Q3 24 | $1.4B | $916.1M | ||
| Q2 24 | $685.4M | $887.0M |
股东权益BXPLITE
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $846.6M | ||
| Q3 25 | $5.0B | $780.8M | ||
| Q2 25 | $5.3B | $1.1B | ||
| Q1 25 | $5.3B | $879.5M | ||
| Q4 24 | $5.4B | $872.3M | ||
| Q3 24 | $5.8B | $895.9M | ||
| Q2 24 | $5.8B | $957.3M |
总资产BXPLITE
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $4.8B | ||
| Q3 25 | $26.0B | $4.6B | ||
| Q2 25 | $25.6B | $4.2B | ||
| Q1 25 | $25.4B | $4.0B | ||
| Q4 24 | $26.1B | $4.0B | ||
| Q3 24 | $26.4B | $4.0B | ||
| Q2 24 | $25.5B | $3.9B |
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 | — | $126.7M |
| 自由现金流经营现金流 - 资本支出 | — | $43.1M |
| 自由现金流率自由现金流/营收 | — | 6.5% |
| 资本支出强度资本支出/营收 | 1.5% | 12.6% |
| 现金转化率经营现金流/净利润 | — | 1.62× |
| 过去12个月自由现金流最近4个季度 | — | $-29.5M |
8季度趋势，按日历期对齐
经营现金流BXPLITE
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $126.7M | ||
| Q3 25 | $274.2M | $57.9M | ||
| Q2 25 | $353.1M | $64.0M | ||
| Q1 25 | $210.0M | $-1.6M | ||
| Q4 24 | $383.7M | $24.3M | ||
| Q3 24 | $286.1M | $39.6M | ||
| Q2 24 | $367.1M | $35.5M |
自由现金流BXPLITE
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $43.1M | ||
| Q3 25 | $231.6M | $-18.3M | ||
| Q2 25 | $281.5M | $10.1M | ||
| Q1 25 | $152.6M | $-64.4M | ||
| Q4 24 | $312.5M | $-15.9M | ||
| Q3 24 | $234.5M | $-34.5M | ||
| Q2 24 | $332.4M | $10.9M |
自由现金流率BXPLITE
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 6.5% | ||
| Q3 25 | 26.6% | -3.4% | ||
| Q2 25 | 32.4% | 2.1% | ||
| Q1 25 | 17.6% | -15.1% | ||
| Q4 24 | 36.4% | -4.0% | ||
| Q3 24 | 27.3% | -10.2% | ||
| Q2 24 | 39.1% | 3.5% |
资本支出强度BXPLITE
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 12.6% | ||
| Q3 25 | 4.9% | 14.3% | ||
| Q2 25 | 8.2% | 11.2% | ||
| Q1 25 | 6.6% | 14.8% | ||
| Q4 24 | 8.3% | 10.0% | ||
| Q3 24 | 6.0% | 22.0% | ||
| Q2 24 | 4.1% | 8.0% |
现金转化率BXPLITE
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 1.62× | ||
| Q3 25 | — | 13.79× | ||
| Q2 25 | 3.97× | 0.30× | ||
| 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% |
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
