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BXP, Inc.（BXP）与NCR Atleos Corp（NATL）财务数据对比。点击上方公司名可切换其他公司
NCR Atleos Corp的季度营收约是BXP, Inc.的1.3倍（$1.2B vs $872.1M），BXP, Inc.净利率更高（15.3% vs 7.2%，领先8.0%），NCR Atleos Corp同比增速更快（4.0% vs 0.8%），过去两年NCR Atleos Corp的营收复合增速更高（4.9% 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。
NCR Atleos Corp 前身为NCR公司（National Cash Register），是全球知名的软件、咨询与技术企业，提供多元专业服务与电子产品，业务覆盖自助服务 kiosk、销售点终端、自动柜员机、支票处理系统、条码扫描器等商用软硬件的研发与生产，服务全球各行业客户的数字化运营需求。
BXP vs NATL — 直观对比
营收规模更大
NATL
是对方的1.3倍
$872.1M
营收增速更快
NATL
高出3.2%
0.8%
净利率更高
BXP
高出8.0%
7.2%
两年增速更快
NATL
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $1.2B |
| 净利润 | $133.0M | $83.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 13.5% |
| 净利率 | 15.3% | 7.2% |
| 营收同比 | 0.8% | 4.0% |
| 净利润同比 | 53.0% | 102.4% |
| 每股收益（稀释后） | $1.69 | $1.09 |
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BXPNATL
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $1.2B | ||
| Q3 25 | $871.5M | $1.1B | ||
| Q2 25 | $868.5M | $1.1B | ||
| Q1 25 | $865.2M | $979.0M | ||
| Q4 24 | $858.6M | $1.1B | ||
| Q3 24 | $859.2M | $1.1B | ||
| Q2 24 | $850.5M | $1.1B |
净利润BXPNATL
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $83.0M | ||
| Q3 25 | $-121.7M | $26.0M | ||
| Q2 25 | $89.0M | $39.0M | ||
| Q1 25 | $61.2M | $14.0M | ||
| Q4 24 | $-228.9M | $41.0M | ||
| Q3 24 | $83.6M | $21.0M | ||
| Q2 24 | $79.6M | $27.0M |
毛利率BXPNATL
| 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BXPNATL
| Q1 26 | — | — | ||
| Q4 25 | — | 13.5% | ||
| Q3 25 | — | 9.8% | ||
| Q2 25 | — | 10.8% | ||
| Q1 25 | — | 9.5% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | — | 10.6% | ||
| Q2 24 | — | 9.8% |
净利率BXPNATL
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 7.2% | ||
| Q3 25 | -14.0% | 2.3% | ||
| Q2 25 | 10.2% | 3.5% | ||
| Q1 25 | 7.1% | 1.4% | ||
| Q4 24 | -26.7% | 3.7% | ||
| Q3 24 | 9.7% | 2.0% | ||
| Q2 24 | 9.4% | 2.5% |
每股收益（稀释后）BXPNATL
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $1.09 | ||
| Q3 25 | $-0.77 | $0.34 | ||
| Q2 25 | $0.56 | $0.52 | ||
| Q1 25 | $0.39 | $0.19 | ||
| Q4 24 | $-1.46 | $0.56 | ||
| Q3 24 | $0.53 | $0.28 | ||
| Q2 24 | $0.51 | $0.37 |
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 | $456.0M |
| 总债务越低越好 | — | $2.7B |
| 股东权益账面价值 | $7.7B | $403.0M |
| 总资产 | $25.1B | $5.7B |
| 负债/权益比越低杠杆越低 | — | 6.63× |
8季度趋势，按日历期对齐
现金及短期投资BXPNATL
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $456.0M | ||
| Q3 25 | $861.1M | $412.0M | ||
| Q2 25 | $447.0M | $357.0M | ||
| Q1 25 | $398.1M | $352.0M | ||
| Q4 24 | $1.3B | $419.0M | ||
| Q3 24 | $1.4B | $395.0M | ||
| Q2 24 | $685.4M | $374.0M |
总债务BXPNATL
| Q1 26 | — | — | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益BXPNATL
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $403.0M | ||
| Q3 25 | $5.0B | $330.0M | ||
| Q2 25 | $5.3B | $350.0M | ||
| Q1 25 | $5.3B | $275.0M | ||
| Q4 24 | $5.4B | $219.0M | ||
| Q3 24 | $5.8B | $264.0M | ||
| Q2 24 | $5.8B | $250.0M |
总资产BXPNATL
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $5.7B | ||
| Q3 25 | $26.0B | $5.7B | ||
| Q2 25 | $25.6B | $5.8B | ||
| Q1 25 | $25.4B | $5.7B | ||
| Q4 24 | $26.1B | $5.5B | ||
| Q3 24 | $26.4B | $5.7B | ||
| Q2 24 | $25.5B | $5.8B |
负债/权益比BXPNATL
| Q1 26 | — | — | ||
| Q4 25 | — | 6.63× | ||
| Q3 25 | — | 8.45× | ||
| Q2 25 | — | 8.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 13.05× | ||
| 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 | — | $231.0M |
| 自由现金流经营现金流 - 资本支出 | — | $194.0M |
| 自由现金流率自由现金流/营收 | — | 16.8% |
| 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 | — | 2.78× |
| 过去12个月自由现金流最近4个季度 | — | $239.0M |
8季度趋势，按日历期对齐
经营现金流BXPNATL
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $231.0M | ||
| Q3 25 | $274.2M | $25.0M | ||
| Q2 25 | $353.1M | $-23.0M | ||
| Q1 25 | $210.0M | $123.0M | ||
| Q4 24 | $383.7M | $80.0M | ||
| Q3 24 | $286.1M | $107.0M | ||
| Q2 24 | $367.1M | $9.0M |
自由现金流BXPNATL
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $194.0M | ||
| Q3 25 | $231.6M | $-5.0M | ||
| Q2 25 | $281.5M | $-44.0M | ||
| Q1 25 | $152.6M | $94.0M | ||
| Q4 24 | $312.5M | $62.0M | ||
| Q3 24 | $234.5M | $85.0M | ||
| Q2 24 | $332.4M | $-14.0M |
自由现金流率BXPNATL
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 16.8% | ||
| Q3 25 | 26.6% | -0.4% | ||
| Q2 25 | 32.4% | -4.0% | ||
| Q1 25 | 17.6% | 9.6% | ||
| Q4 24 | 36.4% | 5.6% | ||
| Q3 24 | 27.3% | 7.9% | ||
| Q2 24 | 39.1% | -1.3% |
资本支出强度BXPNATL
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 3.2% | ||
| Q3 25 | 4.9% | 2.7% | ||
| Q2 25 | 8.2% | 1.9% | ||
| Q1 25 | 6.6% | 3.0% | ||
| Q4 24 | 8.3% | 1.6% | ||
| Q3 24 | 6.0% | 2.1% | ||
| Q2 24 | 4.1% | 2.1% |
现金转化率BXPNATL
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 2.78× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | 3.97× | -0.59× | ||
| Q1 25 | 3.43× | 8.79× | ||
| Q4 24 | — | 1.95× | ||
| Q3 24 | 3.42× | 5.10× | ||
| Q2 24 | 4.61× | 0.33× |
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% |
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
