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BXP, Inc.（BXP）与BLUE OWL CAPITAL INC.（OWL）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BLUE OWL CAPITAL INC.的1.2倍（$872.1M vs $755.6M），BXP, Inc.净利率更高（15.3% vs 6.3%，领先8.9%），BLUE OWL CAPITAL INC.同比增速更快（19.7% vs 0.8%），过去两年BLUE OWL CAPITAL INC.的营收复合增速更高（21.3% 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。
Blue Owl Capital Inc.是美国另类投资资产管理机构，于纽约证券交易所挂牌上市，股票代码为OWL，总部设在纽约市，在伦敦、迪拜、中国香港等全球多地设有办事处，专注为各类客户提供专业的另类资产管理解决方案。
BXP vs OWL — 直观对比
营收规模更大
BXP
是对方的1.2倍
$755.6M
营收增速更快
OWL
高出18.9%
0.8%
净利率更高
BXP
高出8.9%
6.3%
两年增速更快
OWL
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $755.6M |
| 净利润 | $133.0M | $47.7M |
| 毛利率 | — | — |
| 营业利润率 | — | 22.2% |
| 净利率 | 15.3% | 6.3% |
| 营收同比 | 0.8% | 19.7% |
| 净利润同比 | 53.0% | 129.8% |
| 每股收益（稀释后） | $1.69 | $0.07 |
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BXPOWL
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $755.6M | ||
| Q3 25 | $871.5M | $728.0M | ||
| Q2 25 | $868.5M | $703.1M | ||
| Q1 25 | $865.2M | $683.5M | ||
| Q4 24 | $858.6M | $631.4M | ||
| Q3 24 | $859.2M | $600.9M | ||
| Q2 24 | $850.5M | $549.8M |
净利润BXPOWL
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $47.7M | ||
| Q3 25 | $-121.7M | $6.3M | ||
| Q2 25 | $89.0M | $17.4M | ||
| Q1 25 | $61.2M | $7.4M | ||
| Q4 24 | $-228.9M | $20.7M | ||
| Q3 24 | $83.6M | $29.8M | ||
| Q2 24 | $79.6M | $33.9M |
毛利率BXPOWL
| 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BXPOWL
| Q1 26 | — | — | ||
| Q4 25 | — | 22.2% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | — | 12.0% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 18.7% | ||
| Q2 24 | — | 28.4% |
净利率BXPOWL
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 6.3% | ||
| Q3 25 | -14.0% | 0.9% | ||
| Q2 25 | 10.2% | 2.5% | ||
| Q1 25 | 7.1% | 1.1% | ||
| Q4 24 | -26.7% | 3.3% | ||
| Q3 24 | 9.7% | 5.0% | ||
| Q2 24 | 9.4% | 6.2% |
每股收益（稀释后）BXPOWL
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.07 | ||
| Q3 25 | $-0.77 | $0.01 | ||
| Q2 25 | $0.56 | $0.02 | ||
| Q1 25 | $0.39 | $0.00 | ||
| Q4 24 | $-1.46 | $0.06 | ||
| Q3 24 | $0.53 | $0.04 | ||
| Q2 24 | $0.51 | $0.06 |
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 | $194.5M |
| 总债务越低越好 | — | $3.3B |
| 股东权益账面价值 | $7.7B | $2.2B |
| 总资产 | $25.1B | $12.5B |
| 负债/权益比越低杠杆越低 | — | 1.51× |
8季度趋势，按日历期对齐
现金及短期投资BXPOWL
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $194.5M | ||
| Q3 25 | $861.1M | $137.3M | ||
| Q2 25 | $447.0M | $117.6M | ||
| Q1 25 | $398.1M | $97.6M | ||
| Q4 24 | $1.3B | $152.1M | ||
| Q3 24 | $1.4B | $115.9M | ||
| Q2 24 | $685.4M | $436.8M |
总债务BXPOWL
| Q1 26 | — | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | — | $3.2B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B |
股东权益BXPOWL
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $2.2B | ||
| Q3 25 | $5.0B | $2.3B | ||
| Q2 25 | $5.3B | $2.4B | ||
| Q1 25 | $5.3B | $2.3B | ||
| Q4 24 | $5.4B | $2.1B | ||
| Q3 24 | $5.8B | $2.0B | ||
| Q2 24 | $5.8B | $1.7B |
总资产BXPOWL
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $12.5B | ||
| Q3 25 | $26.0B | $12.5B | ||
| Q2 25 | $25.6B | $12.3B | ||
| Q1 25 | $25.4B | $12.3B | ||
| Q4 24 | $26.1B | $11.0B | ||
| Q3 24 | $26.4B | $10.8B | ||
| Q2 24 | $25.5B | $9.7B |
负债/权益比BXPOWL
| Q1 26 | — | — | ||
| Q4 25 | — | 1.51× | ||
| Q3 25 | — | 1.41× | ||
| Q2 25 | — | 1.38× | ||
| Q1 25 | — | 1.37× | ||
| Q4 24 | — | 1.22× | ||
| Q3 24 | — | 1.27× | ||
| Q2 24 | — | 1.41× |
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 | — | $382.9M |
| 自由现金流经营现金流 - 资本支出 | — | $359.1M |
| 自由现金流率自由现金流/营收 | — | 47.5% |
| 资本支出强度资本支出/营收 | 1.5% | 3.1% |
| 现金转化率经营现金流/净利润 | — | 8.03× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流BXPOWL
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $382.9M | ||
| Q3 25 | $274.2M | $433.1M | ||
| Q2 25 | $353.1M | $422.5M | ||
| Q1 25 | $210.0M | $17.6M | ||
| Q4 24 | $383.7M | $324.0M | ||
| Q3 24 | $286.1M | $326.0M | ||
| Q2 24 | $367.1M | $302.3M |
自由现金流BXPOWL
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $359.1M | ||
| Q3 25 | $231.6M | $422.5M | ||
| Q2 25 | $281.5M | $412.5M | ||
| Q1 25 | $152.6M | $4.2M | ||
| Q4 24 | $312.5M | $310.1M | ||
| Q3 24 | $234.5M | $314.8M | ||
| Q2 24 | $332.4M | $269.4M |
自由现金流率BXPOWL
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 47.5% | ||
| Q3 25 | 26.6% | 58.0% | ||
| Q2 25 | 32.4% | 58.7% | ||
| Q1 25 | 17.6% | 0.6% | ||
| Q4 24 | 36.4% | 49.1% | ||
| Q3 24 | 27.3% | 52.4% | ||
| Q2 24 | 39.1% | 49.0% |
资本支出强度BXPOWL
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 3.1% | ||
| Q3 25 | 4.9% | 1.5% | ||
| Q2 25 | 8.2% | 1.4% | ||
| Q1 25 | 6.6% | 2.0% | ||
| Q4 24 | 8.3% | 2.2% | ||
| Q3 24 | 6.0% | 1.9% | ||
| Q2 24 | 4.1% | 6.0% |
现金转化率BXPOWL
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 8.03× | ||
| Q3 25 | — | 68.64× | ||
| Q2 25 | 3.97× | 24.25× | ||
| Q1 25 | 3.43× | 2.37× | ||
| Q4 24 | — | 15.62× | ||
| Q3 24 | 3.42× | 10.94× | ||
| Q2 24 | 4.61× | 8.91× |
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% |
OWL
| Credit Platform | $455.0M | 60% |
| GP Strategic Capital Platform | $157.0M | 21% |
| Administrative Service | $87.6M | 12% |
| IPI Partners LLC | $33.8M | 4% |
| Other | $22.2M | 3% |
