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BXP, Inc.（BXP）与Dave & Buster's Entertainment, Inc.（PLAY）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Dave & Buster's Entertainment, Inc.的1.9倍（$872.1M vs $448.2M），BXP, Inc.净利率更高（15.3% vs -9.4%，领先24.6%），BXP, Inc.同比增速更快（0.8% vs -1.1%），过去两年BXP, Inc.的营收复合增速更高（1.3% vs -13.5%）
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。
戴夫与巴斯特娱乐是总部位于美国达拉斯的餐饮娱乐企业，旗下每家门店都配备全套服务餐厅、酒吧以及名为“百万美元 midway”的游戏游乐区。截至2024年2月，该公司共开设162家门店，其中美国本土158家，波多黎各和加拿大各设2家门店，主打餐饮与休闲娱乐融合的消费体验。
BXP vs PLAY — 直观对比
营收规模更大
BXP
是对方的1.9倍
$448.2M
营收增速更快
BXP
高出1.9%
-1.1%
净利率更高
BXP
高出24.6%
-9.4%
两年增速更快
BXP
近两年复合增速
-13.5%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $448.2M |
| 净利润 | $133.0M | $-42.1M |
| 毛利率 | — | 85.8% |
| 营业利润率 | — | -3.6% |
| 净利率 | 15.3% | -9.4% |
| 营收同比 | 0.8% | -1.1% |
| 净利润同比 | 53.0% | -28.7% |
| 每股收益（稀释后） | $1.69 | $-1.22 |
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BXPPLAY
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $448.2M | ||
| Q3 25 | $871.5M | $557.4M | ||
| Q2 25 | $868.5M | $567.7M | ||
| Q1 25 | $865.2M | $534.5M | ||
| Q4 24 | $858.6M | $453.0M | ||
| Q3 24 | $859.2M | $557.1M | ||
| Q2 24 | $850.5M | $588.1M |
净利润BXPPLAY
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $-42.1M | ||
| Q3 25 | $-121.7M | $11.4M | ||
| Q2 25 | $89.0M | $21.7M | ||
| Q1 25 | $61.2M | $9.3M | ||
| Q4 24 | $-228.9M | $-32.7M | ||
| Q3 24 | $83.6M | $40.3M | ||
| Q2 24 | $79.6M | $41.4M |
毛利率BXPPLAY
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 85.8% | ||
| Q3 25 | 59.3% | 86.3% | ||
| Q2 25 | 59.2% | 85.5% | ||
| Q1 25 | 59.2% | 85.5% | ||
| Q4 24 | 59.7% | 85.0% | ||
| Q3 24 | 59.5% | 85.3% | ||
| Q2 24 | 59.8% | 85.2% |
营业利润率BXPPLAY
| Q1 26 | — | — | ||
| Q4 25 | — | -3.6% | ||
| Q3 25 | — | 9.5% | ||
| Q2 25 | — | 11.1% | ||
| Q1 25 | — | 8.3% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 15.2% | ||
| Q2 24 | — | 14.5% |
净利率BXPPLAY
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | -9.4% | ||
| Q3 25 | -14.0% | 2.0% | ||
| Q2 25 | 10.2% | 3.8% | ||
| Q1 25 | 7.1% | 1.7% | ||
| Q4 24 | -26.7% | -7.2% | ||
| Q3 24 | 9.7% | 7.2% | ||
| Q2 24 | 9.4% | 7.0% |
每股收益（稀释后）BXPPLAY
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $-1.22 | ||
| Q3 25 | $-0.77 | $0.32 | ||
| Q2 25 | $0.56 | $0.62 | ||
| Q1 25 | $0.39 | $0.32 | ||
| Q4 24 | $-1.46 | $-0.84 | ||
| Q3 24 | $0.53 | $0.99 | ||
| Q2 24 | $0.51 | $0.99 |
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 | $13.6M |
| 总债务越低越好 | — | $1.6B |
| 股东权益账面价值 | $7.7B | $130.8M |
| 总资产 | $25.1B | $4.1B |
| 负债/权益比越低杠杆越低 | — | 12.17× |
8季度趋势，按日历期对齐
现金及短期投资BXPPLAY
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $13.6M | ||
| Q3 25 | $861.1M | $12.0M | ||
| Q2 25 | $447.0M | $11.9M | ||
| Q1 25 | $398.1M | $6.9M | ||
| Q4 24 | $1.3B | $8.6M | ||
| Q3 24 | $1.4B | $13.1M | ||
| Q2 24 | $685.4M | $32.1M |
总债务BXPPLAY
| Q1 26 | — | — | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B |
股东权益BXPPLAY
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $130.8M | ||
| Q3 25 | $5.0B | $166.2M | ||
| Q2 25 | $5.3B | $146.8M | ||
| Q1 25 | $5.3B | $145.8M | ||
| Q4 24 | $5.4B | $226.6M | ||
| Q3 24 | $5.8B | $284.4M | ||
| Q2 24 | $5.8B | $292.5M |
总资产BXPPLAY
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $4.1B | ||
| Q3 25 | $26.0B | $4.1B | ||
| Q2 25 | $25.6B | $4.1B | ||
| Q1 25 | $25.4B | $4.0B | ||
| Q4 24 | $26.1B | $3.9B | ||
| Q3 24 | $26.4B | $3.8B | ||
| Q2 24 | $25.5B | $3.8B |
负债/权益比BXPPLAY
| Q1 26 | — | — | ||
| Q4 25 | — | 12.17× | ||
| Q3 25 | — | 9.57× | ||
| Q2 25 | — | 10.98× | ||
| Q1 25 | — | 10.45× | ||
| Q4 24 | — | 6.58× | ||
| Q3 24 | — | 4.72× | ||
| Q2 24 | — | 4.58× |
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 | — | $58.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-20.6M |
| 自由现金流率自由现金流/营收 | — | -4.6% |
| 资本支出强度资本支出/营收 | 1.5% | 17.5% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $-195.6M |
8季度趋势，按日历期对齐
经营现金流BXPPLAY
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $58.0M | ||
| Q3 25 | $274.2M | $34.0M | ||
| Q2 25 | $353.1M | $95.8M | ||
| Q1 25 | $210.0M | $108.9M | ||
| Q4 24 | $383.7M | $-7.2M | ||
| Q3 24 | $286.1M | $101.8M | ||
| Q2 24 | $367.1M | $108.8M |
自由现金流BXPPLAY
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $-20.6M | ||
| Q3 25 | $231.6M | $-55.2M | ||
| Q2 25 | $281.5M | $-58.8M | ||
| Q1 25 | $152.6M | $-61.0M | ||
| Q4 24 | $312.5M | $-138.4M | ||
| Q3 24 | $234.5M | $-14.3M | ||
| Q2 24 | $332.4M | $-4.2M |
自由现金流率BXPPLAY
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | -4.6% | ||
| Q3 25 | 26.6% | -9.9% | ||
| Q2 25 | 32.4% | -10.4% | ||
| Q1 25 | 17.6% | -11.4% | ||
| Q4 24 | 36.4% | -30.6% | ||
| Q3 24 | 27.3% | -2.6% | ||
| Q2 24 | 39.1% | -0.7% |
资本支出强度BXPPLAY
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 17.5% | ||
| Q3 25 | 4.9% | 16.0% | ||
| Q2 25 | 8.2% | 27.2% | ||
| Q1 25 | 6.6% | 31.8% | ||
| Q4 24 | 8.3% | 29.0% | ||
| Q3 24 | 6.0% | 20.8% | ||
| Q2 24 | 4.1% | 19.2% |
现金转化率BXPPLAY
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | 2.98× | ||
| Q2 25 | 3.97× | 4.41× | ||
| Q1 25 | 3.43× | 11.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.42× | 2.53× | ||
| Q2 24 | 4.61× | 2.63× |
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% |
PLAY
| Game Play Credit Usage | $273.1M | 61% |
| Food And Nonalcoholic Beverages | $115.1M | 26% |
| Alcoholic Beverage | $53.7M | 12% |
| Other Entertainment | $6.3M | 1% |
| Gift Card Revenue | $3.5M | 1% |
