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BXP, Inc.（BXP）与Talen Energy Corp（TLN）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Talen Energy Corp的1.2倍（$872.1M vs $758.0M），BXP, Inc.净利率更高（15.3% vs -47.9%，领先63.1%），Talen Energy Corp同比增速更快（114.7% vs 0.8%），过去两年Talen Energy Corp的营收复合增速更高（35.0% 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。
PPL公司是总部位于美国宾夕法尼亚州东部利哈伊谷阿伦敦的能源企业，于纽约证券交易所上市（股票代码：PPL），属标普500指数成分股。截至2022年，公司营收79亿美元，总资产超370亿美元，拥有6500名员工，服务360万客户。
BXP vs TLN — 直观对比
营收规模更大
BXP
是对方的1.2倍
$758.0M
营收增速更快
TLN
高出113.9%
0.8%
净利率更高
BXP
高出63.1%
-47.9%
两年增速更快
TLN
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $758.0M |
| 净利润 | $133.0M | $-363.0M |
| 毛利率 | — | — |
| 营业利润率 | — | -41.3% |
| 净利率 | 15.3% | -47.9% |
| 营收同比 | 0.8% | 114.7% |
| 净利润同比 | 53.0% | -542.7% |
| 每股收益（稀释后） | $1.69 | $-7.60 |
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BXPTLN
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $758.0M | ||
| Q3 25 | $871.5M | $697.0M | ||
| Q2 25 | $868.5M | $409.0M | ||
| Q1 25 | $865.2M | $654.0M | ||
| Q4 24 | $858.6M | $353.0M | ||
| Q3 24 | $859.2M | $459.0M | ||
| Q2 24 | $850.5M | $346.0M |
净利润BXPTLN
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $-363.0M | ||
| Q3 25 | $-121.7M | $207.0M | ||
| Q2 25 | $89.0M | $72.0M | ||
| Q1 25 | $61.2M | $-135.0M | ||
| Q4 24 | $-228.9M | $82.0M | ||
| Q3 24 | $83.6M | $168.0M | ||
| Q2 24 | $79.6M | $454.0M |
毛利率BXPTLN
| 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BXPTLN
| Q1 26 | — | — | ||
| Q4 25 | — | -41.3% | ||
| Q3 25 | — | 37.7% | ||
| Q2 25 | — | 16.1% | ||
| Q1 25 | — | -16.2% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 34.4% | ||
| Q2 24 | — | 7.8% |
净利率BXPTLN
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | -47.9% | ||
| Q3 25 | -14.0% | 29.7% | ||
| Q2 25 | 10.2% | 17.6% | ||
| Q1 25 | 7.1% | -20.6% | ||
| Q4 24 | -26.7% | 23.2% | ||
| Q3 24 | 9.7% | 36.6% | ||
| Q2 24 | 9.4% | 131.2% |
每股收益（稀释后）BXPTLN
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $-7.60 | ||
| Q3 25 | $-0.77 | $4.25 | ||
| Q2 25 | $0.56 | $1.50 | ||
| Q1 25 | $0.39 | $-2.94 | ||
| Q4 24 | $-1.46 | $2.07 | ||
| Q3 24 | $0.53 | $3.16 | ||
| Q2 24 | $0.51 | $7.60 |
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 | $689.0M |
| 总债务越低越好 | — | $6.8B |
| 股东权益账面价值 | $7.7B | $1.1B |
| 总资产 | $25.1B | $10.9B |
| 负债/权益比越低杠杆越低 | — | 6.23× |
8季度趋势，按日历期对齐
现金及短期投资BXPTLN
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $689.0M | ||
| Q3 25 | $861.1M | $497.0M | ||
| Q2 25 | $447.0M | $122.0M | ||
| Q1 25 | $398.1M | $295.0M | ||
| Q4 24 | $1.3B | $328.0M | ||
| Q3 24 | $1.4B | $648.0M | ||
| Q2 24 | $685.4M | $632.0M |
总债务BXPTLN
| Q1 26 | — | — | ||
| Q4 25 | — | $6.8B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.6B |
股东权益BXPTLN
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.1B | ||
| Q3 25 | $5.0B | $1.5B | ||
| Q2 25 | $5.3B | $1.2B | ||
| Q1 25 | $5.3B | $1.2B | ||
| Q4 24 | $5.4B | $1.4B | ||
| Q3 24 | $5.8B | $2.4B | ||
| Q2 24 | $5.8B | $2.5B |
总资产BXPTLN
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $10.9B | ||
| Q3 25 | $26.0B | $6.1B | ||
| Q2 25 | $25.6B | $5.8B | ||
| Q1 25 | $25.4B | $5.9B | ||
| Q4 24 | $26.1B | $6.1B | ||
| Q3 24 | $26.4B | $6.8B | ||
| Q2 24 | $25.5B | $7.1B |
负债/权益比BXPTLN
| Q1 26 | — | — | ||
| Q4 25 | — | 6.23× | ||
| Q3 25 | — | 2.03× | ||
| Q2 25 | — | 2.40× | ||
| Q1 25 | — | 2.54× | ||
| Q4 24 | — | 2.17× | ||
| Q3 24 | — | 1.10× | ||
| Q2 24 | — | 1.05× |
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 | — | $280.0M |
| 自由现金流经营现金流 - 资本支出 | — | $254.0M |
| 自由现金流率自由现金流/营收 | — | 33.5% |
| 资本支出强度资本支出/营收 | 1.5% | 3.4% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $606.0M |
8季度趋势，按日历期对齐
经营现金流BXPTLN
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $280.0M | ||
| Q3 25 | $274.2M | $489.0M | ||
| Q2 25 | $353.1M | $-184.0M | ||
| Q1 25 | $210.0M | $119.0M | ||
| Q4 24 | $383.7M | — | ||
| Q3 24 | $286.1M | $96.0M | ||
| Q2 24 | $367.1M | $-23.0M |
自由现金流BXPTLN
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $254.0M | ||
| Q3 25 | $231.6M | $468.0M | ||
| Q2 25 | $281.5M | $-217.0M | ||
| Q1 25 | $152.6M | $101.0M | ||
| Q4 24 | $312.5M | — | ||
| Q3 24 | $234.5M | $83.0M | ||
| Q2 24 | $332.4M | $-43.0M |
自由现金流率BXPTLN
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 33.5% | ||
| Q3 25 | 26.6% | 67.1% | ||
| Q2 25 | 32.4% | -53.1% | ||
| Q1 25 | 17.6% | 15.4% | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 27.3% | 18.1% | ||
| Q2 24 | 39.1% | -12.4% |
资本支出强度BXPTLN
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 3.4% | ||
| Q3 25 | 4.9% | 3.0% | ||
| Q2 25 | 8.2% | 8.1% | ||
| Q1 25 | 6.6% | 2.8% | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 6.0% | 2.8% | ||
| Q2 24 | 4.1% | 5.8% |
现金转化率BXPTLN
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | 2.36× | ||
| Q2 25 | 3.97× | -2.56× | ||
| Q1 25 | 3.43× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.42× | 0.57× | ||
| Q2 24 | 4.61× | -0.05× |
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% |
TLN
| Electricity Sales And Ancillary Services | $555.0M | 73% |
| Operating Revenue Capacity | $182.0M | 24% |
| Physical Electricity Sales Bilateral Contracts Other | $21.0M | 3% |
