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BXP, Inc.（BXP）与STERLING INFRASTRUCTURE, INC.（STRL）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STERLING INFRASTRUCTURE, INC.的1.2倍（$872.1M vs $755.6M），BXP, Inc.净利率更高（15.3% vs 11.6%，领先3.7%），STERLING INFRASTRUCTURE, INC.同比增速更快（51.5% vs 0.8%），过去两年STERLING INFRASTRUCTURE, INC.的营收复合增速更高（31.0% 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。
本公司是总部位于印度马哈拉施特拉邦孟买的跨国工程总承包（EPC）企业，业务覆盖可再生能源、数据中心、柴油发电、机电水暖（MEP）服务等多个领域，已在全球三十余个国家交付项目，执行团队遍布亚洲、中东、非洲、欧洲及澳大利亚。
BXP vs STRL — 直观对比
营收规模更大
BXP
是对方的1.2倍
$755.6M
营收增速更快
STRL
高出50.7%
0.8%
净利率更高
BXP
高出3.7%
11.6%
两年增速更快
STRL
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $755.6M |
| 净利润 | $133.0M | $87.6M |
| 毛利率 | — | 21.7% |
| 营业利润率 | — | 15.9% |
| 净利率 | 15.3% | 11.6% |
| 营收同比 | 0.8% | 51.5% |
| 净利润同比 | 53.0% | -22.6% |
| 每股收益（稀释后） | $1.69 | $2.82 |
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BXPSTRL
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $755.6M | ||
| Q3 25 | $871.5M | $689.0M | ||
| Q2 25 | $868.5M | $614.5M | ||
| Q1 25 | $865.2M | $430.9M | ||
| Q4 24 | $858.6M | $498.8M | ||
| Q3 24 | $859.2M | $593.7M | ||
| Q2 24 | $850.5M | $582.8M |
净利润BXPSTRL
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $87.6M | ||
| Q3 25 | $-121.7M | $92.1M | ||
| Q2 25 | $89.0M | $71.0M | ||
| Q1 25 | $61.2M | $39.5M | ||
| Q4 24 | $-228.9M | $113.2M | ||
| Q3 24 | $83.6M | $61.3M | ||
| Q2 24 | $79.6M | $51.9M |
毛利率BXPSTRL
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 21.7% | ||
| Q3 25 | 59.3% | 24.7% | ||
| Q2 25 | 59.2% | 23.3% | ||
| Q1 25 | 59.2% | 22.0% | ||
| Q4 24 | 59.7% | 21.4% | ||
| Q3 24 | 59.5% | 21.9% | ||
| Q2 24 | 59.8% | 19.3% |
营业利润率BXPSTRL
| Q1 26 | — | — | ||
| Q4 25 | — | 15.9% | ||
| Q3 25 | — | 18.2% | ||
| Q2 25 | — | 17.0% | ||
| Q1 25 | — | 13.0% | ||
| Q4 24 | — | 12.5% | ||
| Q3 24 | — | 14.7% | ||
| Q2 24 | — | 12.5% |
净利率BXPSTRL
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 11.6% | ||
| Q3 25 | -14.0% | 13.4% | ||
| Q2 25 | 10.2% | 11.6% | ||
| Q1 25 | 7.1% | 9.2% | ||
| Q4 24 | -26.7% | 22.7% | ||
| Q3 24 | 9.7% | 10.3% | ||
| Q2 24 | 9.4% | 8.9% |
每股收益（稀释后）BXPSTRL
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $2.82 | ||
| Q3 25 | $-0.77 | $2.97 | ||
| Q2 25 | $0.56 | $2.31 | ||
| Q1 25 | $0.39 | $1.28 | ||
| Q4 24 | $-1.46 | $3.63 | ||
| Q3 24 | $0.53 | $1.97 | ||
| Q2 24 | $0.51 | $1.67 |
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 | $390.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $1.1B |
| 总资产 | $25.1B | $2.6B |
| 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BXPSTRL
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $390.7M | ||
| Q3 25 | $861.1M | $306.4M | ||
| Q2 25 | $447.0M | $699.4M | ||
| Q1 25 | $398.1M | $638.6M | ||
| Q4 24 | $1.3B | $664.2M | ||
| Q3 24 | $1.4B | $648.1M | ||
| Q2 24 | $685.4M | $540.0M |
股东权益BXPSTRL
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.1B | ||
| Q3 25 | $5.0B | $1.1B | ||
| Q2 25 | $5.3B | $881.7M | ||
| Q1 25 | $5.3B | $805.4M | ||
| Q4 24 | $5.4B | $808.1M | ||
| Q3 24 | $5.8B | $716.5M | ||
| Q2 24 | $5.8B | $670.7M |
总资产BXPSTRL
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $2.6B | ||
| Q3 25 | $26.0B | $2.6B | ||
| Q2 25 | $25.6B | $2.2B | ||
| Q1 25 | $25.4B | $2.0B | ||
| Q4 24 | $26.1B | $2.0B | ||
| Q3 24 | $26.4B | $2.0B | ||
| Q2 24 | $25.5B | $2.0B |
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 | — | $186.1M |
| 自由现金流经营现金流 - 资本支出 | — | $159.7M |
| 自由现金流率自由现金流/营收 | — | 21.1% |
| 资本支出强度资本支出/营收 | 1.5% | 3.5% |
| 现金转化率经营现金流/净利润 | — | 2.12× |
| 过去12个月自由现金流最近4个季度 | — | $362.7M |
8季度趋势，按日历期对齐
经营现金流BXPSTRL
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $186.1M | ||
| Q3 25 | $274.2M | $83.6M | ||
| Q2 25 | $353.1M | $85.4M | ||
| Q1 25 | $210.0M | $84.9M | ||
| Q4 24 | $383.7M | $174.3M | ||
| Q3 24 | $286.1M | $152.3M | ||
| Q2 24 | $367.1M | $121.0M |
自由现金流BXPSTRL
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $159.7M | ||
| Q3 25 | $231.6M | $64.0M | ||
| Q2 25 | $281.5M | $72.1M | ||
| Q1 25 | $152.6M | $67.0M | ||
| Q4 24 | $312.5M | $158.6M | ||
| Q3 24 | $234.5M | $138.3M | ||
| Q2 24 | $332.4M | $92.1M |
自由现金流率BXPSTRL
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 21.1% | ||
| Q3 25 | 26.6% | 9.3% | ||
| Q2 25 | 32.4% | 11.7% | ||
| Q1 25 | 17.6% | 15.5% | ||
| Q4 24 | 36.4% | 31.8% | ||
| Q3 24 | 27.3% | 23.3% | ||
| Q2 24 | 39.1% | 15.8% |
资本支出强度BXPSTRL
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 3.5% | ||
| Q3 25 | 4.9% | 2.9% | ||
| Q2 25 | 8.2% | 2.2% | ||
| Q1 25 | 6.6% | 4.2% | ||
| Q4 24 | 8.3% | 3.1% | ||
| Q3 24 | 6.0% | 2.4% | ||
| Q2 24 | 4.1% | 5.0% |
现金转化率BXPSTRL
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 2.12× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | 3.97× | 1.20× | ||
| Q1 25 | 3.43× | 2.15× | ||
| Q4 24 | — | 1.54× | ||
| Q3 24 | 3.42× | 2.48× | ||
| Q2 24 | 4.61× | 2.33× |
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% |
STRL
| Lump Sum | $464.9M | 62% |
| Heavy Highway | $99.6M | 13% |
| Residential Construction | $70.4M | 9% |
| Road And Highway Builders LLC | $52.4M | 7% |
| Other Revenue | $36.6M | 5% |
| Aviation | $16.6M | 2% |
| Commercial | $11.4M | 2% |
| Related Party | $600.0K | 0% |
