vs
BXP, Inc.（BXP）与Sally Beauty Holdings, Inc.（SBH）财务数据对比。点击上方公司名可切换其他公司
Sally Beauty Holdings, Inc.的季度营收约是BXP, Inc.的1.1倍（$943.2M vs $872.1M），BXP, Inc.净利率更高（15.3% vs 4.8%，领先10.4%），BXP, Inc.同比增速更快（0.8% vs 0.6%），过去两年Sally Beauty Holdings, Inc.的营收复合增速更高（1.9% 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。
莎莉美容控股是美国的跨国专业美妆用品零售及分销商，主营专业级美容相关产品供应，年营收超39亿美元，业务覆盖全球多个市场，在专业美容供应链领域拥有较高的行业知名度。
BXP vs SBH — 直观对比
营收规模更大
SBH
是对方的1.1倍
$872.1M
营收增速更快
BXP
高出0.2%
0.6%
净利率更高
BXP
高出10.4%
4.8%
两年增速更快
SBH
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $943.2M |
| 净利润 | $133.0M | $45.6M |
| 毛利率 | — | 51.2% |
| 营业利润率 | — | 8.1% |
| 净利率 | 15.3% | 4.8% |
| 营收同比 | 0.8% | 0.6% |
| 净利润同比 | 53.0% | -25.3% |
| 每股收益（稀释后） | $1.69 | $0.45 |
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BXPSBH
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $943.2M | ||
| Q3 25 | $871.5M | $947.1M | ||
| Q2 25 | $868.5M | $933.3M | ||
| Q1 25 | $865.2M | $883.1M | ||
| Q4 24 | $858.6M | $937.9M | ||
| Q3 24 | $859.2M | $935.0M | ||
| Q2 24 | $850.5M | $942.3M |
净利润BXPSBH
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $45.6M | ||
| Q3 25 | $-121.7M | $49.9M | ||
| Q2 25 | $89.0M | $45.7M | ||
| Q1 25 | $61.2M | $39.2M | ||
| Q4 24 | $-228.9M | $61.0M | ||
| Q3 24 | $83.6M | $48.1M | ||
| Q2 24 | $79.6M | $37.7M |
毛利率BXPSBH
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 51.2% | ||
| Q3 25 | 59.3% | 52.2% | ||
| Q2 25 | 59.2% | 51.5% | ||
| Q1 25 | 59.2% | 52.0% | ||
| Q4 24 | 59.7% | 50.8% | ||
| Q3 24 | 59.5% | 51.2% | ||
| Q2 24 | 59.8% | 51.0% |
营业利润率BXPSBH
| Q1 26 | — | — | ||
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 8.4% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 7.9% | ||
| Q4 24 | — | 10.7% | ||
| Q3 24 | — | 8.8% | ||
| Q2 24 | — | 7.6% |
净利率BXPSBH
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 4.8% | ||
| Q3 25 | -14.0% | 5.3% | ||
| Q2 25 | 10.2% | 4.9% | ||
| Q1 25 | 7.1% | 4.4% | ||
| Q4 24 | -26.7% | 6.5% | ||
| Q3 24 | 9.7% | 5.1% | ||
| Q2 24 | 9.4% | 4.0% |
每股收益（稀释后）BXPSBH
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.45 | ||
| Q3 25 | $-0.77 | $0.49 | ||
| Q2 25 | $0.56 | $0.44 | ||
| Q1 25 | $0.39 | $0.38 | ||
| Q4 24 | $-1.46 | $0.58 | ||
| Q3 24 | $0.53 | $0.45 | ||
| Q2 24 | $0.51 | $0.36 |
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 | $157.2M |
| 总债务越低越好 | — | $842.5M |
| 股东权益账面价值 | $7.7B | $823.6M |
| 总资产 | $25.1B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 1.02× |
8季度趋势，按日历期对齐
现金及短期投资BXPSBH
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $157.2M | ||
| Q3 25 | $861.1M | $149.2M | ||
| Q2 25 | $447.0M | $112.8M | ||
| Q1 25 | $398.1M | $92.2M | ||
| Q4 24 | $1.3B | $105.5M | ||
| Q3 24 | $1.4B | $108.0M | ||
| Q2 24 | $685.4M | $97.4M |
总债务BXPSBH
| Q1 26 | — | — | ||
| Q4 25 | — | $842.5M | ||
| Q3 25 | — | $862.0M | ||
| Q2 25 | — | $882.4M | ||
| Q1 25 | — | $902.8M | ||
| Q4 24 | — | $938.1M | ||
| Q3 24 | — | $978.3M | ||
| Q2 24 | — | $978.9M |
股东权益BXPSBH
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $823.6M | ||
| Q3 25 | $5.0B | $794.2M | ||
| Q2 25 | $5.3B | $762.9M | ||
| Q1 25 | $5.3B | $699.8M | ||
| Q4 24 | $5.4B | $656.5M | ||
| Q3 24 | $5.8B | $628.5M | ||
| Q2 24 | $5.8B | $577.7M |
总资产BXPSBH
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $2.9B | ||
| Q3 25 | $26.0B | $2.9B | ||
| Q2 25 | $25.6B | $2.7B | ||
| Q1 25 | $25.4B | $2.7B | ||
| Q4 24 | $26.1B | $2.7B | ||
| Q3 24 | $26.4B | $2.8B | ||
| Q2 24 | $25.5B | $2.7B |
负债/权益比BXPSBH
| Q1 26 | — | — | ||
| Q4 25 | — | 1.02× | ||
| Q3 25 | — | 1.09× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 1.29× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.56× | ||
| Q2 24 | — | 1.69× |
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 | — | $93.2M |
| 自由现金流经营现金流 - 资本支出 | — | $57.5M |
| 自由现金流率自由现金流/营收 | — | 6.1% |
| 资本支出强度资本支出/营收 | 1.5% | 3.8% |
| 现金转化率经营现金流/净利润 | — | 2.05× |
| 过去12个月自由现金流最近4个季度 | — | $216.8M |
8季度趋势，按日历期对齐
经营现金流BXPSBH
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $93.2M | ||
| Q3 25 | $274.2M | $120.9M | ||
| Q2 25 | $353.1M | $69.4M | ||
| Q1 25 | $210.0M | $51.1M | ||
| Q4 24 | $383.7M | $33.5M | ||
| Q3 24 | $286.1M | $110.7M | ||
| Q2 24 | $367.1M | $47.9M |
自由现金流BXPSBH
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $57.5M | ||
| Q3 25 | $231.6M | $78.0M | ||
| Q2 25 | $281.5M | $49.1M | ||
| Q1 25 | $152.6M | $32.2M | ||
| Q4 24 | $312.5M | $13.4M | ||
| Q3 24 | $234.5M | $73.3M | ||
| Q2 24 | $332.4M | $28.7M |
自由现金流率BXPSBH
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 6.1% | ||
| Q3 25 | 26.6% | 8.2% | ||
| Q2 25 | 32.4% | 5.3% | ||
| Q1 25 | 17.6% | 3.6% | ||
| Q4 24 | 36.4% | 1.4% | ||
| Q3 24 | 27.3% | 7.8% | ||
| Q2 24 | 39.1% | 3.1% |
资本支出强度BXPSBH
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 3.8% | ||
| Q3 25 | 4.9% | 4.5% | ||
| Q2 25 | 8.2% | 2.2% | ||
| Q1 25 | 6.6% | 2.1% | ||
| Q4 24 | 8.3% | 2.1% | ||
| Q3 24 | 6.0% | 4.0% | ||
| Q2 24 | 4.1% | 2.0% |
现金转化率BXPSBH
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 2.05× | ||
| Q3 25 | — | 2.42× | ||
| Q2 25 | 3.97× | 1.52× | ||
| Q1 25 | 3.43× | 1.30× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | 3.42× | 2.30× | ||
| Q2 24 | 4.61× | 1.27× |
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% |
SBH
| Sally Beauty Supply | $531.6M | 56% |
| Beauty Systems Group | $411.6M | 44% |
