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BXP, Inc.（BXP）与Martin Marietta Materials（MLM）财务数据对比。点击上方公司名可切换其他公司
Martin Marietta Materials的季度营收约是BXP, Inc.的1.3倍（$1.1B vs $872.1M），Martin Marietta Materials净利率更高（24.5% vs 15.3%，领先9.2%），BXP, Inc.同比增速更快（0.8% vs -30.1%），过去两年BXP, Inc.的营收复合增速更高（1.3% vs -4.5%）
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。
马丁·玛丽埃塔材料公司是美国大型集料及重型建筑材料供应商，业务覆盖美国26个州、加拿大及加勒比地区，主要为道路、人行道、地基等各类基建项目提供所需原材料。
BXP vs MLM — 直观对比
营收规模更大
MLM
是对方的1.3倍
$872.1M
营收增速更快
BXP
高出30.9%
-30.1%
净利率更高
MLM
高出9.2%
15.3%
两年增速更快
BXP
近两年复合增速
-4.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $1.1B |
| 净利润 | $133.0M | $279.0M |
| 毛利率 | — | 35.0% |
| 营业利润率 | — | 24.6% |
| 净利率 | 15.3% | 24.5% |
| 营收同比 | 0.8% | -30.1% |
| 净利润同比 | 53.0% | -4.8% |
| 每股收益（稀释后） | $1.69 | $4.59 |
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BXPMLM
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $1.1B | ||
| Q3 25 | $871.5M | $1.8B | ||
| Q2 25 | $868.5M | $1.8B | ||
| Q1 25 | $865.2M | $1.4B | ||
| Q4 24 | $858.6M | $1.6B | ||
| Q3 24 | $859.2M | $1.9B | ||
| Q2 24 | $850.5M | $1.8B |
净利润BXPMLM
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $279.0M | ||
| Q3 25 | $-121.7M | $414.0M | ||
| Q2 25 | $89.0M | $328.0M | ||
| Q1 25 | $61.2M | $116.0M | ||
| Q4 24 | $-228.9M | $293.0M | ||
| Q3 24 | $83.6M | $363.0M | ||
| Q2 24 | $79.6M | $294.0M |
毛利率BXPMLM
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 35.0% | ||
| Q3 25 | 59.3% | 33.1% | ||
| Q2 25 | 59.2% | 30.0% | ||
| Q1 25 | 59.2% | 24.8% | ||
| Q4 24 | 59.7% | 30.0% | ||
| Q3 24 | 59.5% | 31.7% | ||
| Q2 24 | 59.8% | 29.3% |
营业利润率BXPMLM
| Q1 26 | — | — | ||
| Q4 25 | — | 24.6% | ||
| Q3 25 | — | 27.4% | ||
| Q2 25 | — | 25.3% | ||
| Q1 25 | — | 14.3% | ||
| Q4 24 | — | 24.4% | ||
| Q3 24 | — | 25.9% | ||
| Q2 24 | — | 22.6% |
净利率BXPMLM
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 24.5% | ||
| Q3 25 | -14.0% | 22.4% | ||
| Q2 25 | 10.2% | 18.1% | ||
| Q1 25 | 7.1% | 8.6% | ||
| Q4 24 | -26.7% | 18.0% | ||
| Q3 24 | 9.7% | 19.2% | ||
| Q2 24 | 9.4% | 16.7% |
每股收益（稀释后）BXPMLM
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $4.59 | ||
| Q3 25 | $-0.77 | $6.85 | ||
| Q2 25 | $0.56 | $5.43 | ||
| Q1 25 | $0.39 | $1.90 | ||
| Q4 24 | $-1.46 | $4.87 | ||
| Q3 24 | $0.53 | $5.91 | ||
| Q2 24 | $0.51 | $4.76 |
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 | $67.0M |
| 总债务越低越好 | — | $5.3B |
| 股东权益账面价值 | $7.7B | $10.0B |
| 总资产 | $25.1B | $18.7B |
| 负债/权益比越低杠杆越低 | — | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资BXPMLM
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $67.0M | ||
| Q3 25 | $861.1M | $57.0M | ||
| Q2 25 | $447.0M | $225.0M | ||
| Q1 25 | $398.1M | $101.0M | ||
| Q4 24 | $1.3B | $670.0M | ||
| Q3 24 | $1.4B | $52.0M | ||
| Q2 24 | $685.4M | $109.0M |
总债务BXPMLM
| Q1 26 | — | — | ||
| Q4 25 | — | $5.3B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.4B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.3B |
股东权益BXPMLM
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $10.0B | ||
| Q3 25 | $5.0B | $9.7B | ||
| Q2 25 | $5.3B | $9.4B | ||
| Q1 25 | $5.3B | $9.1B | ||
| Q4 24 | $5.4B | $9.5B | ||
| Q3 24 | $5.8B | $9.2B | ||
| Q2 24 | $5.8B | $8.8B |
总资产BXPMLM
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $18.7B | ||
| Q3 25 | $26.0B | $18.7B | ||
| Q2 25 | $25.6B | $18.1B | ||
| Q1 25 | $25.4B | $17.7B | ||
| Q4 24 | $26.1B | $18.2B | ||
| Q3 24 | $26.4B | $16.5B | ||
| Q2 24 | $25.5B | $16.3B |
负债/权益比BXPMLM
| Q1 26 | — | — | ||
| Q4 25 | — | 0.53× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | 0.57× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.49× |
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 | — | $629.0M |
| 自由现金流经营现金流 - 资本支出 | — | $424.0M |
| 自由现金流率自由现金流/营收 | — | 37.2% |
| 资本支出强度资本支出/营收 | 1.5% | 18.0% |
| 现金转化率经营现金流/净利润 | — | 2.25× |
| 过去12个月自由现金流最近4个季度 | — | $978.0M |
8季度趋势，按日历期对齐
经营现金流BXPMLM
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $629.0M | ||
| Q3 25 | $274.2M | $551.0M | ||
| Q2 25 | $353.1M | $387.0M | ||
| Q1 25 | $210.0M | $218.0M | ||
| Q4 24 | $383.7M | $686.0M | ||
| Q3 24 | $286.1M | $600.0M | ||
| Q2 24 | $367.1M | $1.0M |
自由现金流BXPMLM
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $424.0M | ||
| Q3 25 | $231.6M | $361.0M | ||
| Q2 25 | $281.5M | $208.0M | ||
| Q1 25 | $152.6M | $-15.0M | ||
| Q4 24 | $312.5M | $453.0M | ||
| Q3 24 | $234.5M | $317.0M | ||
| Q2 24 | $332.4M | $-138.0M |
自由现金流率BXPMLM
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 37.2% | ||
| Q3 25 | 26.6% | 19.6% | ||
| Q2 25 | 32.4% | 11.5% | ||
| Q1 25 | 17.6% | -1.1% | ||
| Q4 24 | 36.4% | 27.8% | ||
| Q3 24 | 27.3% | 16.8% | ||
| Q2 24 | 39.1% | -7.8% |
资本支出强度BXPMLM
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 18.0% | ||
| Q3 25 | 4.9% | 10.3% | ||
| Q2 25 | 8.2% | 9.9% | ||
| Q1 25 | 6.6% | 17.2% | ||
| Q4 24 | 8.3% | 14.3% | ||
| Q3 24 | 6.0% | 15.0% | ||
| Q2 24 | 4.1% | 7.9% |
现金转化率BXPMLM
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 2.25× | ||
| Q3 25 | — | 1.33× | ||
| Q2 25 | 3.97× | 1.18× | ||
| Q1 25 | 3.43× | 1.88× | ||
| Q4 24 | — | 2.34× | ||
| Q3 24 | 3.42× | 1.65× | ||
| Q2 24 | 4.61× | 0.00× |
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% |
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
