vs
BXP, Inc.（BXP）与Stride, Inc.（LRN）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Stride, Inc.的1.4倍（$872.1M vs $629.9M），BXP, Inc.净利率更高（15.3% vs 14.1%，领先1.2%），Stride, Inc.同比增速更快（2.7% vs 0.8%），过去两年Stride, Inc.的营收复合增速更高（6.9% 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。
Stride, Inc.是一家营利性教育机构，主营在线及混合式教育项目。作为教育管理机构，其为K12阶段公立学校学生提供替代传统线下教学的在线教育方案，同时也开设职业学习课程。截至2012年，这家上市企业是全球招生规模最大的教育管理机构。
BXP vs LRN — 直观对比
营收规模更大
BXP
是对方的1.4倍
$629.9M
营收增速更快
LRN
高出1.9%
0.8%
净利率更高
BXP
高出1.2%
14.1%
两年增速更快
LRN
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $629.9M |
| 净利润 | $133.0M | $88.5M |
| 毛利率 | — | — |
| 营业利润率 | — | 20.5% |
| 净利率 | 15.3% | 14.1% |
| 营收同比 | 0.8% | 2.7% |
| 净利润同比 | 53.0% | 8.5% |
| 每股收益（稀释后） | $1.69 | $1.93 |
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BXPLRN
| Q3 26 | — | $629.9M | ||
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $631.3M | ||
| Q3 25 | $871.5M | $620.9M | ||
| Q2 25 | $868.5M | $653.6M | ||
| Q1 25 | $865.2M | $613.4M | ||
| Q4 24 | $858.6M | $587.2M | ||
| Q3 24 | $859.2M | $551.1M |
净利润BXPLRN
| Q3 26 | — | $88.5M | ||
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $99.5M | ||
| Q3 25 | $-121.7M | $68.8M | ||
| Q2 25 | $89.0M | $51.3M | ||
| Q1 25 | $61.2M | $99.3M | ||
| Q4 24 | $-228.9M | $96.4M | ||
| Q3 24 | $83.6M | $40.9M |
毛利率BXPLRN
| Q3 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 41.1% | ||
| Q3 25 | 59.3% | 39.0% | ||
| Q2 25 | 59.2% | 36.6% | ||
| Q1 25 | 59.2% | 40.6% | ||
| Q4 24 | 59.7% | 40.8% | ||
| Q3 24 | 59.5% | 39.2% |
营业利润率BXPLRN
| Q3 26 | — | 20.5% | ||
| Q1 26 | — | — | ||
| Q4 25 | — | 23.3% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 8.7% | ||
| Q1 25 | — | 21.3% | ||
| Q4 24 | — | 21.3% | ||
| Q3 24 | — | 8.6% |
净利率BXPLRN
| Q3 26 | — | 14.1% | ||
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 15.8% | ||
| Q3 25 | -14.0% | 11.1% | ||
| Q2 25 | 10.2% | 7.9% | ||
| Q1 25 | 7.1% | 16.2% | ||
| Q4 24 | -26.7% | 16.4% | ||
| Q3 24 | 9.7% | 7.4% |
每股收益（稀释后）BXPLRN
| Q3 26 | — | $1.93 | ||
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $2.12 | ||
| Q3 25 | $-0.77 | $1.40 | ||
| Q2 25 | $0.56 | $0.96 | ||
| Q1 25 | $0.39 | $2.02 | ||
| Q4 24 | $-1.46 | $2.03 | ||
| Q3 24 | $0.53 | $0.94 |
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 | $614.0M |
| 总债务越低越好 | — | $417.6M |
| 股东权益账面价值 | $7.7B | $1.6B |
| 总资产 | $25.1B | $2.4B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资BXPLRN
| Q3 26 | — | $614.0M | ||
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $625.7M | ||
| Q3 25 | $861.1M | $715.1M | ||
| Q2 25 | $447.0M | $985.3M | ||
| Q1 25 | $398.1M | $723.7M | ||
| Q4 24 | $1.3B | $717.5M | ||
| Q3 24 | $1.4B | $522.2M |
总债务BXPLRN
| Q3 26 | — | $417.6M | ||
| Q1 26 | — | — | ||
| Q4 25 | — | $417.2M | ||
| Q3 25 | — | $416.8M | ||
| Q2 25 | — | $416.3M | ||
| Q1 25 | — | $415.9M | ||
| Q4 24 | — | $415.5M | ||
| Q3 24 | — | $415.1M |
股东权益BXPLRN
| Q3 26 | — | $1.6B | ||
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.5B | ||
| Q3 25 | $5.0B | $1.5B | ||
| Q2 25 | $5.3B | $1.5B | ||
| Q1 25 | $5.3B | $1.4B | ||
| Q4 24 | $5.4B | $1.3B | ||
| Q3 24 | $5.8B | $1.2B |
总资产BXPLRN
| Q3 26 | — | $2.4B | ||
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $2.3B | ||
| Q3 25 | $26.0B | $2.3B | ||
| Q2 25 | $25.6B | $2.3B | ||
| Q1 25 | $25.4B | $2.2B | ||
| Q4 24 | $26.1B | $2.1B | ||
| Q3 24 | $26.4B | $2.0B |
负债/权益比BXPLRN
| Q3 26 | — | 0.25× | ||
| Q1 26 | — | — | ||
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.28× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.34× |
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 | — | $117.0M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 1.5% | — |
| 现金转化率经营现金流/净利润 | — | 1.32× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流BXPLRN
| Q3 26 | — | $117.0M | ||
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $91.8M | ||
| Q3 25 | $274.2M | $-195.8M | ||
| Q2 25 | $353.1M | $298.3M | ||
| Q1 25 | $210.0M | $53.1M | ||
| Q4 24 | $383.7M | $223.4M | ||
| Q3 24 | $286.1M | $-142.0M |
自由现金流BXPLRN
| Q3 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $91.6M | ||
| Q3 25 | $231.6M | $-196.1M | ||
| Q2 25 | $281.5M | $297.9M | ||
| Q1 25 | $152.6M | $52.9M | ||
| Q4 24 | $312.5M | $222.9M | ||
| Q3 24 | $234.5M | $-142.7M |
自由现金流率BXPLRN
| Q3 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 14.5% | ||
| Q3 25 | 26.6% | -31.6% | ||
| Q2 25 | 32.4% | 45.6% | ||
| Q1 25 | 17.6% | 8.6% | ||
| Q4 24 | 36.4% | 38.0% | ||
| Q3 24 | 27.3% | -25.9% |
资本支出强度BXPLRN
| Q3 26 | — | — | ||
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 0.0% | ||
| Q3 25 | 4.9% | 0.0% | ||
| Q2 25 | 8.2% | 0.1% | ||
| Q1 25 | 6.6% | 0.0% | ||
| Q4 24 | 8.3% | 0.1% | ||
| Q3 24 | 6.0% | 0.1% |
现金转化率BXPLRN
| Q3 26 | — | 1.32× | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 0.92× | ||
| Q3 25 | — | -2.85× | ||
| Q2 25 | 3.97× | 5.81× | ||
| Q1 25 | 3.43× | 0.53× | ||
| Q4 24 | — | 2.32× | ||
| Q3 24 | 3.42× | -3.47× |
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% |
LRN
| General Education | $357.5M | 57% |
| Middle - High School | $259.5M | 41% |
| Adult | $12.9M | 2% |
