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BXP, Inc.（BXP）与NATIONAL FUEL GAS CO（NFG）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NATIONAL FUEL GAS CO的2.0倍（$872.1M vs $425.9M），NATIONAL FUEL GAS CO净利率更高（35.7% vs 15.3%，领先20.4%），NATIONAL FUEL GAS CO同比增速更快（1.7% vs 0.8%），过去两年NATIONAL FUEL GAS CO的营收复合增速更高（12.1% 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。
该多元化能源企业成立于1902年，总部位于美国纽约州威廉斯维尔，总资产达62亿美元，下设勘探与生产、管道与存储、燃气集输、公用事业、能源营销五大运营板块，业务覆盖能源产业链上下游多个核心环节。
BXP vs NFG — 直观对比
营收规模更大
BXP
是对方的2.0倍
$425.9M
营收增速更快
NFG
高出0.9%
0.8%
净利率更高
NFG
高出20.4%
15.3%
两年增速更快
NFG
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $425.9M |
| 净利润 | $133.0M | $152.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 81.5% |
| 净利率 | 15.3% | 35.7% |
| 营收同比 | 0.8% | 1.7% |
| 净利润同比 | 53.0% | — |
| 每股收益（稀释后） | $1.69 | $1.59 |
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BXPNFG
| Q1 26 | $872.1M | $425.9M | ||
| Q4 25 | $877.1M | $637.9M | ||
| Q3 25 | $871.5M | $443.1M | ||
| Q2 25 | $868.5M | $527.4M | ||
| Q1 25 | $865.2M | $734.8M | ||
| Q4 24 | $858.6M | $513.8M | ||
| Q3 24 | $859.2M | $310.0M | ||
| Q2 24 | $850.5M | $338.6M |
净利润BXPNFG
| Q1 26 | $133.0M | $152.0M | ||
| Q4 25 | $248.4M | $181.6M | ||
| Q3 25 | $-121.7M | $107.3M | ||
| Q2 25 | $89.0M | $149.8M | ||
| Q1 25 | $61.2M | $216.4M | ||
| Q4 24 | $-228.9M | $45.0M | ||
| Q3 24 | $83.6M | $-167.6M | ||
| Q2 24 | $79.6M | $-54.2M |
毛利率BXPNFG
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 86.6% | ||
| Q3 25 | 59.3% | — | ||
| Q2 25 | 59.2% | 94.7% | ||
| Q1 25 | 59.2% | 81.6% | ||
| Q4 24 | 59.7% | 87.3% | ||
| Q3 24 | 59.5% | — | ||
| Q2 24 | 59.8% | 98.5% |
营业利润率BXPNFG
| Q1 26 | — | 81.5% | ||
| Q4 25 | — | 43.3% | ||
| Q3 25 | — | 40.6% | ||
| Q2 25 | — | 43.7% | ||
| Q1 25 | — | 43.2% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | — | -63.4% | ||
| Q2 24 | — | -15.2% |
净利率BXPNFG
| Q1 26 | 15.3% | 35.7% | ||
| Q4 25 | 28.3% | 28.5% | ||
| Q3 25 | -14.0% | 24.2% | ||
| Q2 25 | 10.2% | 28.4% | ||
| Q1 25 | 7.1% | 29.4% | ||
| Q4 24 | -26.7% | 8.8% | ||
| Q3 24 | 9.7% | -54.1% | ||
| Q2 24 | 9.4% | -16.0% |
每股收益（稀释后）BXPNFG
| Q1 26 | $1.69 | $1.59 | ||
| Q4 25 | $1.56 | $1.98 | ||
| Q3 25 | $-0.77 | $1.18 | ||
| Q2 25 | $0.56 | $1.64 | ||
| Q1 25 | $0.39 | $2.37 | ||
| Q4 24 | $-1.46 | $0.49 | ||
| Q3 24 | $0.53 | $-1.81 | ||
| Q2 24 | $0.51 | $-0.59 |
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 | — |
| 总债务越低越好 | — | $300.0M |
| 股东权益账面价值 | $7.7B | — |
| 总资产 | $25.1B | $9.1B |
| 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BXPNFG
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $271.4M | ||
| Q3 25 | $861.1M | $43.2M | ||
| Q2 25 | $447.0M | $39.3M | ||
| Q1 25 | $398.1M | $40.0M | ||
| Q4 24 | $1.3B | $48.7M | ||
| Q3 24 | $1.4B | $38.2M | ||
| Q2 24 | $685.4M | $81.4M |
总债务BXPNFG
| Q1 26 | — | $300.0M | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B |
股东权益BXPNFG
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $3.6B | ||
| Q3 25 | $5.0B | $3.1B | ||
| Q2 25 | $5.3B | $3.0B | ||
| Q1 25 | $5.3B | $2.8B | ||
| Q4 24 | $5.4B | $-76.2M | ||
| Q3 24 | $5.8B | $-15.5M | ||
| Q2 24 | $5.8B | $5.0M |
总资产BXPNFG
| Q1 26 | $25.1B | $9.1B | ||
| Q4 25 | $26.2B | $9.2B | ||
| Q3 25 | $26.0B | $8.7B | ||
| Q2 25 | $25.6B | $8.4B | ||
| Q1 25 | $25.4B | $8.5B | ||
| Q4 24 | $26.1B | $8.3B | ||
| Q3 24 | $26.4B | $8.3B | ||
| Q2 24 | $25.5B | $8.5B |
负债/权益比BXPNFG
| Q1 26 | — | — | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 532.10× |
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 | — | $657.3M |
| 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% | 117.0% |
| 现金转化率经营现金流/净利润 | — | 4.32× |
| 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BXPNFG
| Q1 26 | — | $657.3M | ||
| Q4 25 | $407.8M | $274.9M | ||
| Q3 25 | $274.2M | $237.8M | ||
| Q2 25 | $353.1M | $388.4M | ||
| Q1 25 | $210.0M | $253.8M | ||
| Q4 24 | $383.7M | $220.1M | ||
| Q3 24 | $286.1M | $197.9M | ||
| Q2 24 | $367.1M | $281.8M |
自由现金流BXPNFG
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $-2.7M | ||
| Q3 25 | $231.6M | $-47.8M | ||
| Q2 25 | $281.5M | $195.3M | ||
| Q1 25 | $152.6M | $59.9M | ||
| Q4 24 | $312.5M | $-20.3M | ||
| Q3 24 | $234.5M | $-49.1M | ||
| Q2 24 | $332.4M | $79.5M |
自由现金流率BXPNFG
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | -0.4% | ||
| Q3 25 | 26.6% | -10.8% | ||
| Q2 25 | 32.4% | 37.0% | ||
| Q1 25 | 17.6% | 8.2% | ||
| Q4 24 | 36.4% | -4.0% | ||
| Q3 24 | 27.3% | -15.8% | ||
| Q2 24 | 39.1% | 23.5% |
资本支出强度BXPNFG
| Q1 26 | 1.5% | 117.0% | ||
| Q4 25 | 5.1% | 43.5% | ||
| Q3 25 | 4.9% | 64.4% | ||
| Q2 25 | 8.2% | 36.6% | ||
| Q1 25 | 6.6% | 26.4% | ||
| Q4 24 | 8.3% | 46.8% | ||
| Q3 24 | 6.0% | 79.7% | ||
| Q2 24 | 4.1% | 59.7% |
现金转化率BXPNFG
| Q1 26 | — | 4.32× | ||
| Q4 25 | 1.64× | 1.51× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | 3.97× | 2.59× | ||
| Q1 25 | 3.43× | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| 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% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
