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BXP, Inc.（BXP）与希悦尔（SEE）财务数据对比。点击上方公司名可切换其他公司
希悦尔的季度营收约是BXP, Inc.的1.6倍（$1.4B vs $872.1M），BXP, Inc.净利率更高（15.3% vs 3.1%，领先12.1%），希悦尔同比增速更快（2.6% vs 0.8%），过去两年希悦尔的营收复合增速更高（2.7% 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。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
BXP vs SEE — 直观对比
营收规模更大
SEE
是对方的1.6倍
$872.1M
营收增速更快
SEE
高出1.8%
0.8%
净利率更高
BXP
高出12.1%
3.1%
两年增速更快
SEE
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $1.4B |
| 净利润 | $133.0M | $43.8M |
| 毛利率 | — | 28.6% |
| 营业利润率 | — | 11.4% |
| 净利率 | 15.3% | 3.1% |
| 营收同比 | 0.8% | 2.6% |
| 净利润同比 | 53.0% | 700.0% |
| 每股收益（稀释后） | $1.69 | $0.30 |
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BXPSEE
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $1.4B | ||
| Q3 25 | $871.5M | $1.3B | ||
| Q2 25 | $868.5M | $1.3B | ||
| Q1 25 | $865.2M | $1.3B | ||
| Q4 24 | $858.6M | $1.4B | ||
| Q3 24 | $859.2M | $1.3B | ||
| Q2 24 | $850.5M | $1.3B |
净利润BXPSEE
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $43.8M | ||
| Q3 25 | $-121.7M | $255.1M | ||
| Q2 25 | $89.0M | $93.1M | ||
| Q1 25 | $61.2M | $113.5M | ||
| Q4 24 | $-228.9M | $-7.3M | ||
| Q3 24 | $83.6M | $91.7M | ||
| Q2 24 | $79.6M | $98.3M |
毛利率BXPSEE
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 28.6% | ||
| Q3 25 | 59.3% | 29.8% | ||
| Q2 25 | 59.2% | 30.7% | ||
| Q1 25 | 59.2% | 30.9% | ||
| Q4 24 | 59.7% | 30.0% | ||
| Q3 24 | 59.5% | 30.1% | ||
| Q2 24 | 59.8% | 31.2% |
营业利润率BXPSEE
| Q1 26 | — | — | ||
| Q4 25 | — | 11.4% | ||
| Q3 25 | — | 13.8% | ||
| Q2 25 | — | 15.0% | ||
| Q1 25 | — | 14.5% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | 15.4% |
净利率BXPSEE
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 3.1% | ||
| Q3 25 | -14.0% | 19.0% | ||
| Q2 25 | 10.2% | 7.0% | ||
| Q1 25 | 7.1% | 9.0% | ||
| Q4 24 | -26.7% | -0.5% | ||
| Q3 24 | 9.7% | 6.9% | ||
| Q2 24 | 9.4% | 7.4% |
每股收益（稀释后）BXPSEE
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.30 | ||
| Q3 25 | $-0.77 | $1.73 | ||
| Q2 25 | $0.56 | $0.63 | ||
| Q1 25 | $0.39 | $0.77 | ||
| Q4 24 | $-1.46 | $-0.05 | ||
| Q3 24 | $0.53 | $0.63 | ||
| Q2 24 | $0.51 | $0.67 |
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 | $344.0M |
| 总债务越低越好 | — | $3.3B |
| 股东权益账面价值 | $7.7B | $1.2B |
| 总资产 | $25.1B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资BXPSEE
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $344.0M | ||
| Q3 25 | $861.1M | $282.5M | ||
| Q2 25 | $447.0M | $354.4M | ||
| Q1 25 | $398.1M | $335.2M | ||
| Q4 24 | $1.3B | $371.8M | ||
| Q3 24 | $1.4B | $386.0M | ||
| Q2 24 | $685.4M | $388.6M |
总债务BXPSEE
| Q1 26 | — | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.4B |
股东权益BXPSEE
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.2B | ||
| Q3 25 | $5.0B | $1.2B | ||
| Q2 25 | $5.3B | $953.1M | ||
| Q1 25 | $5.3B | $797.9M | ||
| Q4 24 | $5.4B | $624.5M | ||
| Q3 24 | $5.8B | $771.2M | ||
| Q2 24 | $5.8B | $650.1M |
总资产BXPSEE
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $7.0B | ||
| Q3 25 | $26.0B | $7.1B | ||
| Q2 25 | $25.6B | $7.2B | ||
| Q1 25 | $25.4B | $7.0B | ||
| Q4 24 | $26.1B | $7.0B | ||
| Q3 24 | $26.4B | $7.3B | ||
| Q2 24 | $25.5B | $7.3B |
负债/权益比BXPSEE
| Q1 26 | — | — | ||
| Q4 25 | — | 2.65× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | 4.18× | ||
| Q1 25 | — | 5.26× | ||
| Q4 24 | — | 6.72× | ||
| Q3 24 | — | 5.62× | ||
| Q2 24 | — | 6.81× |
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 | — | $257.7M |
| 自由现金流率自由现金流/营收 | — | 18.5% |
| 资本支出强度资本支出/营收 | 1.5% | 2.6% |
| 现金转化率经营现金流/净利润 | — | 6.70× |
| 过去12个月自由现金流最近4个季度 | — | $458.5M |
8季度趋势，按日历期对齐
经营现金流BXPSEE
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $293.6M | ||
| Q3 25 | $274.2M | $165.9M | ||
| Q2 25 | $353.1M | $136.6M | ||
| Q1 25 | $210.0M | $31.9M | ||
| Q4 24 | $383.7M | $244.2M | ||
| Q3 24 | $286.1M | $170.5M | ||
| Q2 24 | $367.1M | $188.2M |
自由现金流BXPSEE
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $257.7M | ||
| Q3 25 | $231.6M | $119.6M | ||
| Q2 25 | $281.5M | $93.2M | ||
| Q1 25 | $152.6M | $-12.0M | ||
| Q4 24 | $312.5M | $185.1M | ||
| Q3 24 | $234.5M | $115.2M | ||
| Q2 24 | $332.4M | $129.5M |
自由现金流率BXPSEE
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 18.5% | ||
| Q3 25 | 26.6% | 8.9% | ||
| Q2 25 | 32.4% | 7.0% | ||
| Q1 25 | 17.6% | -0.9% | ||
| Q4 24 | 36.4% | 13.6% | ||
| Q3 24 | 27.3% | 8.6% | ||
| Q2 24 | 39.1% | 9.7% |
资本支出强度BXPSEE
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 2.6% | ||
| Q3 25 | 4.9% | 3.4% | ||
| Q2 25 | 8.2% | 3.3% | ||
| Q1 25 | 6.6% | 3.5% | ||
| Q4 24 | 8.3% | 4.4% | ||
| Q3 24 | 6.0% | 4.1% | ||
| Q2 24 | 4.1% | 4.4% |
现金转化率BXPSEE
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 6.70× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | 3.97× | 1.47× | ||
| Q1 25 | 3.43× | 0.28× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.42× | 1.86× | ||
| Q2 24 | 4.61× | 1.91× |
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% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
