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BXP, Inc.（BXP）与ROYAL GOLD INC（RGLD）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ROYAL GOLD INC的1.9倍（$872.1M vs $469.1M），ROYAL GOLD INC净利率更高（60.0% vs 15.3%，领先44.8%），ROYAL GOLD INC同比增速更快（142.6% vs 0.8%），过去两年ROYAL GOLD INC的营收复合增速更高（64.2% 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。
Royal Gold Inc.是全球领先的贵金属流权与特许权经营企业，收购并管理多元化的矿业项目流权、净熔炼收益特许权及相关权益，资产覆盖黄金、白银、铜等品类，业务遍及多地区，无需直接承担采矿运营风险。
BXP vs RGLD — 直观对比
营收规模更大
BXP
是对方的1.9倍
$469.1M
营收增速更快
RGLD
高出141.8%
0.8%
净利率更高
RGLD
高出44.8%
15.3%
两年增速更快
RGLD
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $469.1M |
| 净利润 | $133.0M | $281.7M |
| 毛利率 | — | — |
| 营业利润率 | — | 63.3% |
| 净利率 | 15.3% | 60.0% |
| 营收同比 | 0.8% | 142.6% |
| 净利润同比 | 53.0% | 147.7% |
| 每股收益（稀释后） | $1.69 | $3.30 |
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BXPRGLD
| Q1 26 | $872.1M | $469.1M | ||
| Q4 25 | $877.1M | $375.3M | ||
| Q3 25 | $871.5M | $252.1M | ||
| Q2 25 | $868.5M | $209.6M | ||
| Q1 25 | $865.2M | $193.4M | ||
| Q4 24 | $858.6M | $202.6M | ||
| Q3 24 | $859.2M | $193.8M | ||
| Q2 24 | $850.5M | $174.1M |
净利润BXPRGLD
| Q1 26 | $133.0M | $281.7M | ||
| Q4 25 | $248.4M | $93.6M | ||
| Q3 25 | $-121.7M | $126.8M | ||
| Q2 25 | $89.0M | $132.3M | ||
| Q1 25 | $61.2M | $113.5M | ||
| Q4 24 | $-228.9M | $107.4M | ||
| Q3 24 | $83.6M | $96.2M | ||
| Q2 24 | $79.6M | $81.2M |
毛利率BXPRGLD
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 64.6% | ||
| Q3 25 | 59.3% | 73.6% | ||
| Q2 25 | 59.2% | 72.6% | ||
| Q1 25 | 59.2% | 69.4% | ||
| Q4 24 | 59.7% | 70.3% | ||
| Q3 24 | 59.5% | 66.6% | ||
| Q2 24 | 59.8% | 64.7% |
营业利润率BXPRGLD
| Q1 26 | — | 63.3% | ||
| Q4 25 | — | 56.2% | ||
| Q3 25 | — | 64.4% | ||
| Q2 25 | — | 67.7% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 65.9% | ||
| Q3 24 | — | 61.3% | ||
| Q2 24 | — | 58.6% |
净利率BXPRGLD
| Q1 26 | 15.3% | 60.0% | ||
| Q4 25 | 28.3% | 24.9% | ||
| Q3 25 | -14.0% | 50.3% | ||
| Q2 25 | 10.2% | 63.1% | ||
| Q1 25 | 7.1% | 58.7% | ||
| Q4 24 | -26.7% | 53.0% | ||
| Q3 24 | 9.7% | 49.7% | ||
| Q2 24 | 9.4% | 46.6% |
每股收益（稀释后）BXPRGLD
| Q1 26 | $1.69 | $3.30 | ||
| Q4 25 | $1.56 | $1.04 | ||
| Q3 25 | $-0.77 | $1.92 | ||
| Q2 25 | $0.56 | $2.01 | ||
| Q1 25 | $0.39 | $1.72 | ||
| Q4 24 | $-1.46 | $1.63 | ||
| Q3 24 | $0.53 | $1.46 | ||
| Q2 24 | $0.51 | $1.23 |
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 | $234.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $7.5B |
| 总资产 | $25.1B | $9.5B |
| 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BXPRGLD
| Q1 26 | $512.8M | $234.1M | ||
| Q4 25 | $1.5B | $233.7M | ||
| Q3 25 | $861.1M | $172.8M | ||
| Q2 25 | $447.0M | $248.2M | ||
| Q1 25 | $398.1M | $240.8M | ||
| Q4 24 | $1.3B | $195.5M | ||
| Q3 24 | $1.4B | $127.9M | ||
| Q2 24 | $685.4M | $74.2M |
总债务BXPRGLD
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $50.0M |
股东权益BXPRGLD
| Q1 26 | $7.7B | $7.5B | ||
| Q4 25 | $5.1B | $7.2B | ||
| Q3 25 | $5.0B | $3.4B | ||
| Q2 25 | $5.3B | $3.3B | ||
| Q1 25 | $5.3B | $3.2B | ||
| Q4 24 | $5.4B | $3.1B | ||
| Q3 24 | $5.8B | $3.0B | ||
| Q2 24 | $5.8B | $3.0B |
总资产BXPRGLD
| Q1 26 | $25.1B | $9.5B | ||
| Q4 25 | $26.2B | $9.5B | ||
| Q3 25 | $26.0B | $4.5B | ||
| Q2 25 | $25.6B | $3.6B | ||
| Q1 25 | $25.4B | $3.5B | ||
| Q4 24 | $26.1B | $3.4B | ||
| Q3 24 | $26.4B | $3.3B | ||
| Q2 24 | $25.5B | $3.3B |
负债/权益比BXPRGLD
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.02× |
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 | — | $293.6M |
| 自由现金流经营现金流 - 资本支出 | — | $278.9M |
| 自由现金流率自由现金流/营收 | — | 59.4% |
| 资本支出强度资本支出/营收 | 1.5% | — |
| 现金转化率经营现金流/净利润 | — | 1.04× |
| 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BXPRGLD
| Q1 26 | — | $293.6M | ||
| Q4 25 | $407.8M | $241.7M | ||
| Q3 25 | $274.2M | $174.0M | ||
| Q2 25 | $353.1M | $152.8M | ||
| Q1 25 | $210.0M | $136.4M | ||
| Q4 24 | $383.7M | $141.1M | ||
| Q3 24 | $286.1M | $136.7M | ||
| Q2 24 | $367.1M | $113.5M |
自由现金流BXPRGLD
| Q1 26 | — | $278.9M | ||
| Q4 25 | $362.7M | — | ||
| Q3 25 | $231.6M | — | ||
| Q2 25 | $281.5M | — | ||
| Q1 25 | $152.6M | — | ||
| Q4 24 | $312.5M | — | ||
| Q3 24 | $234.5M | — | ||
| Q2 24 | $332.4M | — |
自由现金流率BXPRGLD
| Q1 26 | — | 59.4% | ||
| Q4 25 | 41.4% | — | ||
| Q3 25 | 26.6% | — | ||
| Q2 25 | 32.4% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 27.3% | — | ||
| Q2 24 | 39.1% | — |
资本支出强度BXPRGLD
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | — | ||
| Q3 25 | 4.9% | — | ||
| Q2 25 | 8.2% | — | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 4.1% | — |
现金转化率BXPRGLD
| Q1 26 | — | 1.04× | ||
| Q4 25 | 1.64× | 2.58× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | 3.97× | 1.15× | ||
| Q1 25 | 3.43× | 1.20× | ||
| Q4 24 | — | 1.31× | ||
| Q3 24 | 3.42× | 1.42× | ||
| Q2 24 | 4.61× | 1.40× |
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% |
RGLD
| North America | $258.0M | 55% |
| South and Central America | $110.2M | 23% |
| Europe, Middle East, Africa (EMEA) | $84.8M | 18% |
| Australia Pacific | $16.1M | 3% |
