vs
BXP, Inc.（BXP）与赫曼米勒（MLKN）财务数据对比。点击上方公司名可切换其他公司
赫曼米勒的季度营收约是BXP, Inc.的1.1倍（$955.2M vs $872.1M），BXP, Inc.净利率更高（15.3% vs 2.5%，领先12.7%），BXP, Inc.同比增速更快（0.8% vs -1.6%）
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。
米勒诺尔公司以赫曼米勒之名开展业务，是美国知名办公家具、设备及家居产品制造商。其推出的埃隆椅、野口勇茶几、棉花糖沙发、米拉椅、伊姆斯休闲椅等产品享誉全球，此外该公司还在1968年研发出了现代办公隔间。
BXP vs MLKN — 直观对比
营收规模更大
MLKN
是对方的1.1倍
$872.1M
营收增速更快
BXP
高出2.4%
-1.6%
净利率更高
BXP
高出12.7%
2.5%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $955.2M |
| 净利润 | $133.0M | $24.2M |
| 毛利率 | — | 39.0% |
| 营业利润率 | — | 5.1% |
| 净利率 | 15.3% | 2.5% |
| 营收同比 | 0.8% | -1.6% |
| 净利润同比 | 53.0% | -29.0% |
| 每股收益（稀释后） | $1.69 | $0.35 |
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BXPMLKN
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $955.2M | ||
| Q3 25 | $871.5M | $955.7M | ||
| Q2 25 | $868.5M | — | ||
| Q1 25 | $865.2M | — | ||
| Q4 24 | $858.6M | — | ||
| Q3 24 | $859.2M | — | ||
| Q2 24 | $850.5M | — |
净利润BXPMLKN
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $24.2M | ||
| Q3 25 | $-121.7M | $20.2M | ||
| Q2 25 | $89.0M | — | ||
| Q1 25 | $61.2M | — | ||
| Q4 24 | $-228.9M | — | ||
| Q3 24 | $83.6M | — | ||
| Q2 24 | $79.6M | — |
毛利率BXPMLKN
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 39.0% | ||
| Q3 25 | 59.3% | 38.5% | ||
| 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BXPMLKN
| Q1 26 | — | — | ||
| Q4 25 | — | 5.1% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
净利率BXPMLKN
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 2.5% | ||
| Q3 25 | -14.0% | 2.1% | ||
| Q2 25 | 10.2% | — | ||
| Q1 25 | 7.1% | — | ||
| Q4 24 | -26.7% | — | ||
| Q3 24 | 9.7% | — | ||
| Q2 24 | 9.4% | — |
每股收益（稀释后）BXPMLKN
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.35 | ||
| Q3 25 | $-0.77 | $0.29 | ||
| Q2 25 | $0.56 | — | ||
| Q1 25 | $0.39 | — | ||
| Q4 24 | $-1.46 | — | ||
| Q3 24 | $0.53 | — | ||
| Q2 24 | $0.51 | — |
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 | $180.4M |
| 总债务越低越好 | — | $1.3B |
| 股东权益账面价值 | $7.7B | $1.3B |
| 总资产 | $25.1B | $3.9B |
| 负债/权益比越低杠杆越低 | — | 1.02× |
8季度趋势，按日历期对齐
现金及短期投资BXPMLKN
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $180.4M | ||
| Q3 25 | $861.1M | $167.2M | ||
| Q2 25 | $447.0M | — | ||
| Q1 25 | $398.1M | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $685.4M | — |
总债务BXPMLKN
| Q1 26 | — | — | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益BXPMLKN
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.3B | ||
| Q3 25 | $5.0B | $1.3B | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.3B | — | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.8B | — | ||
| Q2 24 | $5.8B | — |
总资产BXPMLKN
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $3.9B | ||
| Q3 25 | $26.0B | $3.9B | ||
| Q2 25 | $25.6B | — | ||
| Q1 25 | $25.4B | — | ||
| Q4 24 | $26.1B | — | ||
| Q3 24 | $26.4B | — | ||
| Q2 24 | $25.5B | — |
负债/权益比BXPMLKN
| Q1 26 | — | — | ||
| Q4 25 | — | 1.02× | ||
| Q3 25 | — | 1.02× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $64.6M |
| 自由现金流经营现金流 - 资本支出 | — | $34.0M |
| 自由现金流率自由现金流/营收 | — | 3.6% |
| 资本支出强度资本支出/营收 | 1.5% | 3.2% |
| 现金转化率经营现金流/净利润 | — | 2.67× |
| 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BXPMLKN
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $64.6M | ||
| Q3 25 | $274.2M | $9.4M | ||
| Q2 25 | $353.1M | — | ||
| Q1 25 | $210.0M | — | ||
| Q4 24 | $383.7M | — | ||
| Q3 24 | $286.1M | — | ||
| Q2 24 | $367.1M | — |
自由现金流BXPMLKN
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $34.0M | ||
| Q3 25 | $231.6M | $-21.3M | ||
| 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BXPMLKN
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 3.6% | ||
| Q3 25 | 26.6% | -2.2% | ||
| 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BXPMLKN
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 3.2% | ||
| Q3 25 | 4.9% | 3.2% | ||
| 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BXPMLKN
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 2.67× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | 3.97× | — | ||
| 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% |
MLKN
| Workplace | $309.9M | 32% |
| Global Retail Segment | $275.8M | 29% |
| International Contract Segment | $170.9M | 18% |
| Performance Seating | $101.1M | 11% |
| Lifestyle | $52.9M | 6% |
| Other Products | $44.6M | 5% |
