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BXP, Inc.（BXP）与RLI CORP（RLI）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RLI CORP的1.9倍（$872.1M vs $465.7M），RLI CORP净利率更高（19.6% vs 15.3%，领先4.3%），RLI CORP同比增速更快（6.1% vs 0.8%），过去两年RLI CORP的营收复合增速更高（2.3% 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。
RLI Corp是一家总部位于美国伊利诺伊州皮奥里亚的专业保险公司，主营财产保险与意外伤害保险业务，深耕保险领域多年，凭借成熟的风险管控体系与定制化产品矩阵，为不同类型的客户提供全面可靠的风险保障服务。
BXP vs RLI — 直观对比
营收规模更大
BXP
是对方的1.9倍
$465.7M
营收增速更快
RLI
高出5.3%
0.8%
净利率更高
RLI
高出4.3%
15.3%
两年增速更快
RLI
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $465.7M |
| 净利润 | $133.0M | $91.2M |
| 毛利率 | — | — |
| 营业利润率 | — | 24.4% |
| 净利率 | 15.3% | 19.6% |
| 营收同比 | 0.8% | 6.1% |
| 净利润同比 | 53.0% | 123.1% |
| 每股收益（稀释后） | $1.69 | $1.00 |
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BXPRLI
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $465.7M | ||
| Q3 25 | $871.5M | $509.3M | ||
| Q2 25 | $868.5M | $499.8M | ||
| Q1 25 | $865.2M | $407.7M | ||
| Q4 24 | $858.6M | $439.1M | ||
| Q3 24 | $859.2M | $470.0M | ||
| Q2 24 | $850.5M | $416.4M |
净利润BXPRLI
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $91.2M | ||
| Q3 25 | $-121.7M | $124.6M | ||
| Q2 25 | $89.0M | $124.3M | ||
| Q1 25 | $61.2M | $63.2M | ||
| Q4 24 | $-228.9M | $40.9M | ||
| Q3 24 | $83.6M | $95.0M | ||
| Q2 24 | $79.6M | $82.0M |
毛利率BXPRLI
| 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BXPRLI
| Q1 26 | — | — | ||
| Q4 25 | — | 24.4% | ||
| Q3 25 | — | 30.9% | ||
| Q2 25 | — | 31.3% | ||
| Q1 25 | — | 19.3% | ||
| Q4 24 | — | 10.8% | ||
| Q3 24 | — | 24.9% | ||
| Q2 24 | — | 24.8% |
净利率BXPRLI
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 19.6% | ||
| Q3 25 | -14.0% | 24.5% | ||
| Q2 25 | 10.2% | 24.9% | ||
| Q1 25 | 7.1% | 15.5% | ||
| Q4 24 | -26.7% | 9.3% | ||
| Q3 24 | 9.7% | 20.2% | ||
| Q2 24 | 9.4% | 19.7% |
每股收益（稀释后）BXPRLI
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $1.00 | ||
| Q3 25 | $-0.77 | $1.35 | ||
| Q2 25 | $0.56 | $1.34 | ||
| Q1 25 | $0.39 | $0.68 | ||
| Q4 24 | $-1.46 | $-2.87 | ||
| Q3 24 | $0.53 | $2.06 | ||
| Q2 24 | $0.51 | $1.78 |
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 | — | — |
| 股东权益账面价值 | $7.7B | $1.8B |
| 总资产 | $25.1B | $6.2B |
| 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BXPRLI
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $861.1M | — | ||
| Q2 25 | $447.0M | — | ||
| Q1 25 | $398.1M | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $685.4M | — |
总债务BXPRLI
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $100.0M | ||
| Q2 25 | — | $100.0M | ||
| Q1 25 | — | $100.0M | ||
| Q4 24 | — | $100.0M | ||
| Q3 24 | — | $100.0M | ||
| Q2 24 | — | $100.0M |
股东权益BXPRLI
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.8B | ||
| Q3 25 | $5.0B | $1.9B | ||
| Q2 25 | $5.3B | $1.7B | ||
| Q1 25 | $5.3B | $1.6B | ||
| Q4 24 | $5.4B | $1.5B | ||
| Q3 24 | $5.8B | $1.7B | ||
| Q2 24 | $5.8B | $1.6B |
总资产BXPRLI
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $6.2B | ||
| Q3 25 | $26.0B | $6.2B | ||
| Q2 25 | $25.6B | $6.0B | ||
| Q1 25 | $25.4B | $5.7B | ||
| Q4 24 | $26.1B | $5.6B | ||
| Q3 24 | $26.4B | $5.8B | ||
| Q2 24 | $25.5B | $5.5B |
负债/权益比BXPRLI
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | — | 0.07× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.06× |
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 | — | $156.8M |
| 自由现金流经营现金流 - 资本支出 | — | $155.0M |
| 自由现金流率自由现金流/营收 | — | 33.3% |
| 资本支出强度资本支出/营收 | 1.5% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.72× |
| 过去12个月自由现金流最近4个季度 | — | $608.7M |
8季度趋势，按日历期对齐
经营现金流BXPRLI
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $156.8M | ||
| Q3 25 | $274.2M | $179.2M | ||
| Q2 25 | $353.1M | $174.7M | ||
| Q1 25 | $210.0M | $103.5M | ||
| Q4 24 | $383.7M | $128.1M | ||
| Q3 24 | $286.1M | $219.4M | ||
| Q2 24 | $367.1M | $141.8M |
自由现金流BXPRLI
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $155.0M | ||
| Q3 25 | $231.6M | $177.8M | ||
| Q2 25 | $281.5M | $173.4M | ||
| Q1 25 | $152.6M | $102.5M | ||
| Q4 24 | $312.5M | $127.6M | ||
| Q3 24 | $234.5M | $219.0M | ||
| Q2 24 | $332.4M | $139.1M |
自由现金流率BXPRLI
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 33.3% | ||
| Q3 25 | 26.6% | 34.9% | ||
| Q2 25 | 32.4% | 34.7% | ||
| Q1 25 | 17.6% | 25.1% | ||
| Q4 24 | 36.4% | 29.0% | ||
| Q3 24 | 27.3% | 46.6% | ||
| Q2 24 | 39.1% | 33.4% |
资本支出强度BXPRLI
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 0.4% | ||
| Q3 25 | 4.9% | 0.3% | ||
| Q2 25 | 8.2% | 0.3% | ||
| Q1 25 | 6.6% | 0.3% | ||
| Q4 24 | 8.3% | 0.1% | ||
| Q3 24 | 6.0% | 0.1% | ||
| Q2 24 | 4.1% | 0.7% |
现金转化率BXPRLI
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 1.72× | ||
| Q3 25 | — | 1.44× | ||
| Q2 25 | 3.97× | 1.41× | ||
| Q1 25 | 3.43× | 1.64× | ||
| Q4 24 | — | 3.13× | ||
| Q3 24 | 3.42× | 2.31× | ||
| Q2 24 | 4.61× | 1.73× |
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% |
RLI
| Casualty Segment | $246.8M | 53% |
| Property Insurance Segment | $122.5M | 26% |
| Other | $59.3M | 13% |
| Surety Insurance Segment | $37.1M | 8% |
