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BXP, Inc.（BXP）与大都会人寿（MET）财务数据对比。点击上方公司名可切换其他公司
BXP, Inc.的季度营收约是大都会人寿的1.5倍（$872.1M vs $600.0M），大都会人寿净利率更高（134.8% vs 15.3%，领先119.6%），大都会人寿同比增速更快（7.9% vs 0.8%），过去两年大都会人寿的营收复合增速更高（2.0% 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。
大都会人寿（MetLife）是全球规模领先的保险、年金及员工福利服务提供商之一，创立于1868年，业务覆盖超60个国家和地区，服务约9000万客户，2018年位列《财富》美国500强营收排行榜第43位。
BXP vs MET — 直观对比
营收规模更大
BXP
是对方的1.5倍
$600.0M
营收增速更快
MET
高出7.1%
0.8%
净利率更高
MET
高出119.6%
15.3%
两年增速更快
MET
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $600.0M |
| 净利润 | $133.0M | $809.0M |
| 毛利率 | — | — |
| 营业利润率 | — | — |
| 净利率 | 15.3% | 134.8% |
| 营收同比 | 0.8% | 7.9% |
| 净利润同比 | 53.0% | -36.3% |
| 每股收益（稀释后） | $1.69 | $1.18 |
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BXPMET
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $600.0M | ||
| Q3 25 | $871.5M | $621.0M | ||
| Q2 25 | $868.5M | $604.0M | ||
| Q1 25 | $865.2M | $611.0M | ||
| Q4 24 | $858.6M | $556.0M | ||
| Q3 24 | $859.2M | $554.0M | ||
| Q2 24 | $850.5M | $558.0M |
净利润BXPMET
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $809.0M | ||
| Q3 25 | $-121.7M | $896.0M | ||
| Q2 25 | $89.0M | $729.0M | ||
| Q1 25 | $61.2M | $945.0M | ||
| Q4 24 | $-228.9M | $1.3B | ||
| Q3 24 | $83.6M | $1.3B | ||
| Q2 24 | $79.6M | $946.0M |
毛利率BXPMET
| 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% | — |
净利率BXPMET
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 134.8% | ||
| Q3 25 | -14.0% | 144.3% | ||
| Q2 25 | 10.2% | 120.7% | ||
| Q1 25 | 7.1% | 154.7% | ||
| Q4 24 | -26.7% | 228.6% | ||
| Q3 24 | 9.7% | 242.2% | ||
| Q2 24 | 9.4% | 169.5% |
每股收益（稀释后）BXPMET
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $1.18 | ||
| Q3 25 | $-0.77 | $1.22 | ||
| Q2 25 | $0.56 | $1.03 | ||
| Q1 25 | $0.39 | $1.28 | ||
| Q4 24 | $-1.46 | $1.75 | ||
| Q3 24 | $0.53 | $1.81 | ||
| Q2 24 | $0.51 | $1.28 |
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 | $25.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $28.4B |
| 总资产 | $25.1B | $745.2B |
| 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BXPMET
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $25.6B | ||
| Q3 25 | $861.1M | $26.2B | ||
| Q2 25 | $447.0M | $27.5B | ||
| Q1 25 | $398.1M | $26.9B | ||
| Q4 24 | $1.3B | $25.2B | ||
| Q3 24 | $1.4B | $26.4B | ||
| Q2 24 | $685.4M | $24.6B |
股东权益BXPMET
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $28.4B | ||
| Q3 25 | $5.0B | $28.9B | ||
| Q2 25 | $5.3B | $27.7B | ||
| Q1 25 | $5.3B | $27.5B | ||
| Q4 24 | $5.4B | $27.4B | ||
| Q3 24 | $5.8B | $30.9B | ||
| Q2 24 | $5.8B | $27.3B |
总资产BXPMET
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $745.2B | ||
| Q3 25 | $26.0B | $719.7B | ||
| Q2 25 | $25.6B | $702.5B | ||
| Q1 25 | $25.4B | $688.3B | ||
| Q4 24 | $26.1B | $677.5B | ||
| Q3 24 | $26.4B | $705.0B | ||
| Q2 24 | $25.5B | $675.7B |
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 | — | $7.1B |
| 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 | — | 8.75× |
| 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BXPMET
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $7.1B | ||
| Q3 25 | $274.2M | $3.6B | ||
| Q2 25 | $353.1M | $2.2B | ||
| Q1 25 | $210.0M | $4.3B | ||
| Q4 24 | $383.7M | $4.6B | ||
| Q3 24 | $286.1M | $4.2B | ||
| Q2 24 | $367.1M | $3.5B |
自由现金流BXPMET
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | — | ||
| Q3 25 | $231.6M | — | ||
| Q2 25 | $281.5M | — | ||
| Q1 25 | $152.6M | — | ||
| Q4 24 | $312.5M | — | ||
| Q3 24 | $234.5M | — | ||
| Q2 24 | $332.4M | — |
自由现金流率BXPMET
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | — | ||
| Q3 25 | 26.6% | — | ||
| Q2 25 | 32.4% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 27.3% | — | ||
| Q2 24 | 39.1% | — |
资本支出强度BXPMET
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | — | ||
| Q3 25 | 4.9% | — | ||
| Q2 25 | 8.2% | — | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 4.1% | — |
现金转化率BXPMET
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 8.75× | ||
| Q3 25 | — | 3.98× | ||
| Q2 25 | 3.97× | 3.00× | ||
| Q1 25 | 3.43× | 4.51× | ||
| Q4 24 | — | 3.63× | ||
| Q3 24 | 3.42× | 3.11× | ||
| Q2 24 | 4.61× | 3.69× |
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% |
MET
| Other | $165.0M | 28% |
| Prepaidlegalplansandadministrativeonlycontracts | $158.0M | 26% |
| Vision Fee For Service Arrangements | $140.0M | 23% |
| Administrative Service | $76.0M | 13% |
| Distribution Service | $36.0M | 6% |
| Feebasedinvestmentmanagementservices | $25.0M | 4% |
