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BXP, Inc.（BXP）与PTC Inc.（PTC）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PTC Inc.的1.3倍（$872.1M vs $685.8M），PTC Inc.净利率更高（24.3% vs 15.3%，领先9.0%），PTC Inc.同比增速更快（21.4% vs 0.8%），过去两年PTC Inc.的营收复合增速更高（6.6% 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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
BXP vs PTC — 直观对比
营收规模更大
BXP
是对方的1.3倍
$685.8M
营收增速更快
PTC
高出20.6%
0.8%
净利率更高
PTC
高出9.0%
15.3%
两年增速更快
PTC
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $685.8M |
| 净利润 | $133.0M | $166.5M |
| 毛利率 | — | 82.8% |
| 营业利润率 | — | 32.2% |
| 净利率 | 15.3% | 24.3% |
| 营收同比 | 0.8% | 21.4% |
| 净利润同比 | 53.0% | 102.5% |
| 每股收益（稀释后） | $1.69 | $1.39 |
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BXPPTC
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $685.8M | ||
| Q3 25 | $871.5M | $893.8M | ||
| Q2 25 | $868.5M | $643.9M | ||
| Q1 25 | $865.2M | $636.4M | ||
| Q4 24 | $858.6M | $565.1M | ||
| Q3 24 | $859.2M | $626.5M | ||
| Q2 24 | $850.5M | $518.6M |
净利润BXPPTC
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $166.5M | ||
| Q3 25 | $-121.7M | $347.8M | ||
| Q2 25 | $89.0M | $141.3M | ||
| Q1 25 | $61.2M | $162.6M | ||
| Q4 24 | $-228.9M | $82.2M | ||
| Q3 24 | $83.6M | $126.5M | ||
| Q2 24 | $79.6M | $69.0M |
毛利率BXPPTC
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 82.8% | ||
| Q3 25 | 59.3% | 86.9% | ||
| Q2 25 | 59.2% | 82.9% | ||
| Q1 25 | 59.2% | 83.3% | ||
| Q4 24 | 59.7% | 80.2% | ||
| Q3 24 | 59.5% | 82.0% | ||
| Q2 24 | 59.8% | 78.4% |
营业利润率BXPPTC
| Q1 26 | — | — | ||
| Q4 25 | — | 32.2% | ||
| Q3 25 | — | 48.5% | ||
| Q2 25 | — | 32.6% | ||
| Q1 25 | — | 35.1% | ||
| Q4 24 | — | 20.4% | ||
| Q3 24 | — | 31.0% | ||
| Q2 24 | — | 18.5% |
净利率BXPPTC
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 24.3% | ||
| Q3 25 | -14.0% | 38.9% | ||
| Q2 25 | 10.2% | 21.9% | ||
| Q1 25 | 7.1% | 25.6% | ||
| Q4 24 | -26.7% | 14.6% | ||
| Q3 24 | 9.7% | 20.2% | ||
| Q2 24 | 9.4% | 13.3% |
每股收益（稀释后）BXPPTC
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $1.39 | ||
| Q3 25 | $-0.77 | $2.88 | ||
| Q2 25 | $0.56 | $1.17 | ||
| Q1 25 | $0.39 | $1.35 | ||
| Q4 24 | $-1.46 | $0.68 | ||
| Q3 24 | $0.53 | $1.05 | ||
| Q2 24 | $0.51 | $0.57 |
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 | $209.7M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $7.7B | $3.8B |
| 总资产 | $25.1B | $6.4B |
| 负债/权益比越低杠杆越低 | — | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资BXPPTC
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $209.7M | ||
| Q3 25 | $861.1M | $184.4M | ||
| Q2 25 | $447.0M | $199.3M | ||
| Q1 25 | $398.1M | $235.2M | ||
| Q4 24 | $1.3B | $196.3M | ||
| Q3 24 | $1.4B | $265.8M | ||
| Q2 24 | $685.4M | $247.7M |
总债务BXPPTC
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.3B |
股东权益BXPPTC
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $3.8B | ||
| Q3 25 | $5.0B | $3.8B | ||
| Q2 25 | $5.3B | $3.5B | ||
| Q1 25 | $5.3B | $3.4B | ||
| Q4 24 | $5.4B | $3.2B | ||
| Q3 24 | $5.8B | $3.2B | ||
| Q2 24 | $5.8B | $3.0B |
总资产BXPPTC
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $6.4B | ||
| Q3 25 | $26.0B | $6.6B | ||
| Q2 25 | $25.6B | $6.2B | ||
| Q1 25 | $25.4B | $6.2B | ||
| Q4 24 | $26.1B | $6.1B | ||
| Q3 24 | $26.4B | $6.4B | ||
| Q2 24 | $25.5B | $6.1B |
负债/权益比BXPPTC
| Q1 26 | — | — | ||
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.43× |
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 | — | $269.7M |
| 自由现金流经营现金流 - 资本支出 | — | $267.4M |
| 自由现金流率自由现金流/营收 | — | 39.0% |
| 资本支出强度资本支出/营收 | 1.5% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.62× |
| 过去12个月自由现金流最近4个季度 | — | $888.4M |
8季度趋势，按日历期对齐
经营现金流BXPPTC
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $269.7M | ||
| Q3 25 | $274.2M | $104.0M | ||
| Q2 25 | $353.1M | $243.9M | ||
| Q1 25 | $210.0M | $281.3M | ||
| Q4 24 | $383.7M | $238.4M | ||
| Q3 24 | $286.1M | $98.1M | ||
| Q2 24 | $367.1M | $213.8M |
自由现金流BXPPTC
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $267.4M | ||
| Q3 25 | $231.6M | $100.5M | ||
| Q2 25 | $281.5M | $242.0M | ||
| Q1 25 | $152.6M | $278.5M | ||
| Q4 24 | $312.5M | $235.7M | ||
| Q3 24 | $234.5M | $93.6M | ||
| Q2 24 | $332.4M | $212.2M |
自由现金流率BXPPTC
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 39.0% | ||
| Q3 25 | 26.6% | 11.2% | ||
| Q2 25 | 32.4% | 37.6% | ||
| Q1 25 | 17.6% | 43.8% | ||
| Q4 24 | 36.4% | 41.7% | ||
| Q3 24 | 27.3% | 14.9% | ||
| Q2 24 | 39.1% | 40.9% |
资本支出强度BXPPTC
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 0.3% | ||
| Q3 25 | 4.9% | 0.4% | ||
| Q2 25 | 8.2% | 0.3% | ||
| Q1 25 | 6.6% | 0.4% | ||
| Q4 24 | 8.3% | 0.5% | ||
| Q3 24 | 6.0% | 0.7% | ||
| Q2 24 | 4.1% | 0.3% |
现金转化率BXPPTC
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 1.62× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | 3.97× | 1.73× | ||
| Q1 25 | 3.43× | 1.73× | ||
| Q4 24 | — | 2.90× | ||
| Q3 24 | 3.42× | 0.78× | ||
| Q2 24 | 4.61× | 3.10× |
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% |
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
