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BXP, Inc.（BXP）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的1.4倍（$872.1M vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 15.3%，领先19.2%），Royalty Pharma plc同比增速更快（4.8% vs 0.8%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% 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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
BXP vs RPRX — 直观对比
营收规模更大
BXP
是对方的1.4倍
$622.0M
营收增速更快
RPRX
高出4.0%
0.8%
净利率更高
RPRX
高出19.2%
15.3%
两年增速更快
RPRX
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $622.0M |
| 净利润 | $133.0M | $214.2M |
| 毛利率 | — | — |
| 营业利润率 | — | 62.4% |
| 净利率 | 15.3% | 34.4% |
| 营收同比 | 0.8% | 4.8% |
| 净利润同比 | 53.0% | 2.9% |
| 每股收益（稀释后） | $1.69 | $0.49 |
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BXPRPRX
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $622.0M | ||
| Q3 25 | $871.5M | $609.3M | ||
| Q2 25 | $868.5M | $578.7M | ||
| Q1 25 | $865.2M | $568.2M | ||
| Q4 24 | $858.6M | $593.6M | ||
| Q3 24 | $859.2M | $564.7M | ||
| Q2 24 | $850.5M | $537.3M |
净利润BXPRPRX
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $214.2M | ||
| Q3 25 | $-121.7M | $288.2M | ||
| Q2 25 | $89.0M | $30.2M | ||
| Q1 25 | $61.2M | $238.3M | ||
| Q4 24 | $-228.9M | $208.2M | ||
| Q3 24 | $83.6M | $544.0M | ||
| Q2 24 | $79.6M | $102.0M |
毛利率BXPRPRX
| 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BXPRPRX
| Q1 26 | — | — | ||
| Q4 25 | — | 62.4% | ||
| Q3 25 | — | 70.1% | ||
| Q2 25 | — | 36.3% | ||
| Q1 25 | — | 94.0% | ||
| Q4 24 | — | 60.9% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 50.2% |
净利率BXPRPRX
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 34.4% | ||
| Q3 25 | -14.0% | 47.3% | ||
| Q2 25 | 10.2% | 5.2% | ||
| Q1 25 | 7.1% | 41.9% | ||
| Q4 24 | -26.7% | 35.1% | ||
| Q3 24 | 9.7% | 96.3% | ||
| Q2 24 | 9.4% | 19.0% |
每股收益（稀释后）BXPRPRX
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.49 | ||
| Q3 25 | $-0.77 | $0.67 | ||
| Q2 25 | $0.56 | $0.07 | ||
| Q1 25 | $0.39 | $0.55 | ||
| Q4 24 | $-1.46 | $0.46 | ||
| Q3 24 | $0.53 | $1.21 | ||
| Q2 24 | $0.51 | $0.23 |
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 | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $7.7B | $9.7B |
| 总资产 | $25.1B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资BXPRPRX
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $618.7M | ||
| Q3 25 | $861.1M | $938.9M | ||
| Q2 25 | $447.0M | $631.9M | ||
| Q1 25 | $398.1M | $1.1B | ||
| Q4 24 | $1.3B | $929.0M | ||
| Q3 24 | $1.4B | $950.1M | ||
| Q2 24 | $685.4M | $1.8B |
总债务BXPRPRX
| Q1 26 | — | — | ||
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B |
股东权益BXPRPRX
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $9.7B | ||
| Q3 25 | $5.0B | $9.6B | ||
| Q2 25 | $5.3B | $9.5B | ||
| Q1 25 | $5.3B | $9.8B | ||
| Q4 24 | $5.4B | $10.3B | ||
| Q3 24 | $5.8B | $10.3B | ||
| Q2 24 | $5.8B | $9.8B |
总资产BXPRPRX
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $19.6B | ||
| Q3 25 | $26.0B | $19.3B | ||
| Q2 25 | $25.6B | $18.3B | ||
| Q1 25 | $25.4B | $17.6B | ||
| Q4 24 | $26.1B | $18.2B | ||
| Q3 24 | $26.4B | $18.0B | ||
| Q2 24 | $25.5B | $17.7B |
负债/权益比BXPRPRX
| Q1 26 | — | — | ||
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× |
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 | — | $827.1M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 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 | — | 3.86× |
| 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BXPRPRX
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $827.1M | ||
| Q3 25 | $274.2M | $702.6M | ||
| Q2 25 | $353.1M | $364.0M | ||
| Q1 25 | $210.0M | $596.1M | ||
| Q4 24 | $383.7M | $742.5M | ||
| Q3 24 | $286.1M | $703.6M | ||
| Q2 24 | $367.1M | $658.2M |
自由现金流BXPRPRX
| Q1 26 | — | — | ||
| 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BXPRPRX
| Q1 26 | — | — | ||
| 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BXPRPRX
| 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BXPRPRX
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | 3.97× | 12.06× | ||
| Q1 25 | 3.43× | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | 3.42× | 1.29× | ||
| Q2 24 | 4.61× | 6.45× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
