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BXP, Inc.（BXP）与美森（MATX）财务数据对比。点击上方公司名可切换其他公司
BXP, Inc.的季度营收约是美森的1.0倍（$872.1M vs $851.9M），美森净利率更高（16.8% vs 15.3%，领先1.5%），BXP, Inc.同比增速更快（0.8% vs -4.3%），过去两年美森的营收复合增速更高（8.6% 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。
美森公司（Matson, Inc.）是美国知名航运服务企业，总部位于夏威夷州火奴鲁鲁，成立于1882年。旗下子公司美森航运主营跨太平洋海运业务，服务覆盖夏威夷、阿拉斯加、关岛、密克罗尼西亚、太平洋诸岛、中国及日本等地区。
BXP vs MATX — 直观对比
营收规模更大
BXP
是对方的1.0倍
$851.9M
营收增速更快
BXP
高出5.1%
-4.3%
净利率更高
MATX
高出1.5%
15.3%
两年增速更快
MATX
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $851.9M |
| 净利润 | $133.0M | $143.1M |
| 毛利率 | — | — |
| 营业利润率 | — | 16.9% |
| 净利率 | 15.3% | 16.8% |
| 营收同比 | 0.8% | -4.3% |
| 净利润同比 | 53.0% | 11.8% |
| 每股收益（稀释后） | $1.69 | $4.47 |
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BXPMATX
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $851.9M | ||
| Q3 25 | $871.5M | $880.1M | ||
| Q2 25 | $868.5M | $830.5M | ||
| Q1 25 | $865.2M | $782.0M | ||
| Q4 24 | $858.6M | $890.3M | ||
| Q3 24 | $859.2M | $962.0M | ||
| Q2 24 | $850.5M | $847.4M |
净利润BXPMATX
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $143.1M | ||
| Q3 25 | $-121.7M | $134.7M | ||
| Q2 25 | $89.0M | $94.7M | ||
| Q1 25 | $61.2M | $72.3M | ||
| Q4 24 | $-228.9M | $128.0M | ||
| Q3 24 | $83.6M | $199.1M | ||
| Q2 24 | $79.6M | $113.2M |
毛利率BXPMATX
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | — | ||
| Q3 25 | 59.3% | — | ||
| Q2 25 | 59.2% | — | ||
| Q1 25 | 59.2% | — | ||
| Q4 24 | 59.7% | — | ||
| Q3 24 | 59.5% | — | ||
| Q2 24 | 59.8% | — |
营业利润率BXPMATX
| Q1 26 | — | — | ||
| Q4 25 | — | 16.9% | ||
| Q3 25 | — | 18.3% | ||
| Q2 25 | — | 13.6% | ||
| Q1 25 | — | 10.5% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | — | 25.2% | ||
| Q2 24 | — | 14.7% |
净利率BXPMATX
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 16.8% | ||
| Q3 25 | -14.0% | 15.3% | ||
| Q2 25 | 10.2% | 11.4% | ||
| Q1 25 | 7.1% | 9.2% | ||
| Q4 24 | -26.7% | 14.4% | ||
| Q3 24 | 9.7% | 20.7% | ||
| Q2 24 | 9.4% | 13.4% |
每股收益（稀释后）BXPMATX
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $4.47 | ||
| Q3 25 | $-0.77 | $4.24 | ||
| Q2 25 | $0.56 | $2.92 | ||
| Q1 25 | $0.39 | $2.18 | ||
| Q4 24 | $-1.46 | $3.69 | ||
| Q3 24 | $0.53 | $5.89 | ||
| Q2 24 | $0.51 | $3.31 |
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 | $141.9M |
| 总债务越低越好 | — | $361.2M |
| 股东权益账面价值 | $7.7B | $2.8B |
| 总资产 | $25.1B | $4.6B |
| 负债/权益比越低杠杆越低 | — | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资BXPMATX
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $141.9M | ||
| Q3 25 | $861.1M | $92.7M | ||
| Q2 25 | $447.0M | $59.1M | ||
| Q1 25 | $398.1M | $122.0M | ||
| Q4 24 | $1.3B | $266.8M | ||
| Q3 24 | $1.4B | $270.3M | ||
| Q2 24 | $685.4M | $168.2M |
总债务BXPMATX
| Q1 26 | — | — | ||
| Q4 25 | — | $361.2M | ||
| Q3 25 | — | $370.9M | ||
| Q2 25 | — | $341.3M | ||
| Q1 25 | — | $351.1M | ||
| Q4 24 | — | $361.2M | ||
| Q3 24 | — | $370.9M | ||
| Q2 24 | — | $381.0M |
股东权益BXPMATX
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $2.8B | ||
| Q3 25 | $5.0B | $2.7B | ||
| Q2 25 | $5.3B | $2.6B | ||
| Q1 25 | $5.3B | $2.6B | ||
| Q4 24 | $5.4B | $2.7B | ||
| Q3 24 | $5.8B | $2.6B | ||
| Q2 24 | $5.8B | $2.4B |
总资产BXPMATX
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $4.6B | ||
| Q3 25 | $26.0B | $4.6B | ||
| Q2 25 | $25.6B | $4.5B | ||
| Q1 25 | $25.4B | $4.5B | ||
| Q4 24 | $26.1B | $4.6B | ||
| Q3 24 | $26.4B | $4.4B | ||
| Q2 24 | $25.5B | $4.3B |
负债/权益比BXPMATX
| Q1 26 | — | — | ||
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.14× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.16× |
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 | — | $176.9M |
| 自由现金流经营现金流 - 资本支出 | — | $42.2M |
| 自由现金流率自由现金流/营收 | — | 5.0% |
| 资本支出强度资本支出/营收 | 1.5% | 15.8% |
| 现金转化率经营现金流/净利润 | — | 1.24× |
| 过去12个月自由现金流最近4个季度 | — | $153.7M |
8季度趋势，按日历期对齐
经营现金流BXPMATX
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $176.9M | ||
| Q3 25 | $274.2M | $175.6M | ||
| Q2 25 | $353.1M | $105.6M | ||
| Q1 25 | $210.0M | $89.0M | ||
| Q4 24 | $383.7M | $174.7M | ||
| Q3 24 | $286.1M | $248.6M | ||
| Q2 24 | $367.1M | $307.9M |
自由现金流BXPMATX
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $42.2M | ||
| Q3 25 | $231.6M | $92.4M | ||
| Q2 25 | $281.5M | $19.3M | ||
| Q1 25 | $152.6M | $-200.0K | ||
| Q4 24 | $312.5M | $49.3M | ||
| Q3 24 | $234.5M | $189.0M | ||
| Q2 24 | $332.4M | $238.1M |
自由现金流率BXPMATX
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 5.0% | ||
| Q3 25 | 26.6% | 10.5% | ||
| Q2 25 | 32.4% | 2.3% | ||
| Q1 25 | 17.6% | -0.0% | ||
| Q4 24 | 36.4% | 5.5% | ||
| Q3 24 | 27.3% | 19.6% | ||
| Q2 24 | 39.1% | 28.1% |
资本支出强度BXPMATX
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 15.8% | ||
| Q3 25 | 4.9% | 9.5% | ||
| Q2 25 | 8.2% | 10.4% | ||
| Q1 25 | 6.6% | 11.4% | ||
| Q4 24 | 8.3% | 14.1% | ||
| Q3 24 | 6.0% | 6.2% | ||
| Q2 24 | 4.1% | 8.2% |
现金转化率BXPMATX
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 1.24× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | 3.97× | 1.12× | ||
| Q1 25 | 3.43× | 1.23× | ||
| Q4 24 | — | 1.36× | ||
| Q3 24 | 3.42× | 1.25× | ||
| Q2 24 | 4.61× | 2.72× |
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% |
MATX
| Ocean Transportation Segment | $704.2M | 83% |
| Logistics Services Segment | $147.7M | 17% |
