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BXP, Inc.（BXP）与TRINET GROUP, INC.（TNET）财务数据对比。点击上方公司名可切换其他公司
TRINET GROUP, INC.的季度营收约是BXP, Inc.的1.4倍（$1.2B vs $872.1M），BXP, Inc.同比增速更快（0.8% vs -2.2%），过去两年BXP, Inc.的营收复合增速更高（1.3% vs -0.6%）
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。
TriNet Group, Inc.是一家面向中小企业的专业雇主组织，总部位于加州都柏林，服务员工规模在3至2500人之间的各类机构。可提供薪资管理、健康福利管理服务，还能为客户提供劳动法规合规、风险降低相关咨询，可作为外包人力资源部门为企业分担人事相关事务。
BXP vs TNET — 直观对比
营收规模更大
TNET
是对方的1.4倍
$872.1M
营收增速更快
BXP
高出3.0%
-2.2%
两年增速更快
BXP
近两年复合增速
-0.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $1.2B |
| 净利润 | $133.0M | — |
| 毛利率 | — | — |
| 营业利润率 | — | 0.1% |
| 净利率 | 15.3% | — |
| 营收同比 | 0.8% | -2.2% |
| 净利润同比 | 53.0% | — |
| 每股收益（稀释后） | $1.69 | $0.02 |
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BXPTNET
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $1.2B | ||
| Q3 25 | $871.5M | $1.2B | ||
| Q2 25 | $868.5M | $1.2B | ||
| Q1 25 | $865.2M | $1.3B | ||
| Q4 24 | $858.6M | $1.3B | ||
| Q3 24 | $859.2M | $1.2B | ||
| Q2 24 | $850.5M | $1.2B |
净利润BXPTNET
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | — | ||
| Q3 25 | $-121.7M | $34.0M | ||
| Q2 25 | $89.0M | $37.0M | ||
| Q1 25 | $61.2M | $85.0M | ||
| Q4 24 | $-228.9M | — | ||
| Q3 24 | $83.6M | $45.0M | ||
| Q2 24 | $79.6M | $60.0M |
毛利率BXPTNET
| 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BXPTNET
| Q1 26 | — | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | — | 4.1% | ||
| Q1 25 | — | 8.9% | ||
| Q4 24 | — | -2.9% | ||
| Q3 24 | — | 4.7% | ||
| Q2 24 | — | 6.5% |
净利率BXPTNET
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | — | ||
| Q3 25 | -14.0% | 2.8% | ||
| Q2 25 | 10.2% | 3.0% | ||
| Q1 25 | 7.1% | 6.6% | ||
| Q4 24 | -26.7% | — | ||
| Q3 24 | 9.7% | 3.6% | ||
| Q2 24 | 9.4% | 4.9% |
每股收益（稀释后）BXPTNET
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.02 | ||
| Q3 25 | $-0.77 | $0.70 | ||
| Q2 25 | $0.56 | $0.77 | ||
| Q1 25 | $0.39 | $1.71 | ||
| Q4 24 | $-1.46 | $-0.44 | ||
| Q3 24 | $0.53 | $0.89 | ||
| Q2 24 | $0.51 | $1.20 |
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 | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $54.0M |
| 总资产 | $25.1B | $3.8B |
| 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BXPTNET
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $287.0M | ||
| Q3 25 | $861.1M | $321.0M | ||
| Q2 25 | $447.0M | $407.0M | ||
| Q1 25 | $398.1M | $349.0M | ||
| Q4 24 | $1.3B | $360.0M | ||
| Q3 24 | $1.4B | $301.0M | ||
| Q2 24 | $685.4M | $249.0M |
股东权益BXPTNET
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $54.0M | ||
| Q3 25 | $5.0B | $110.0M | ||
| Q2 25 | $5.3B | $107.0M | ||
| Q1 25 | $5.3B | $63.0M | ||
| Q4 24 | $5.4B | $69.0M | ||
| Q3 24 | $5.8B | $129.0M | ||
| Q2 24 | $5.8B | $100.0M |
总资产BXPTNET
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $3.8B | ||
| Q3 25 | $26.0B | $3.4B | ||
| Q2 25 | $25.6B | $3.7B | ||
| Q1 25 | $25.4B | $3.8B | ||
| Q4 24 | $26.1B | $4.1B | ||
| Q3 24 | $26.4B | $3.7B | ||
| Q2 24 | $25.5B | $3.7B |
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 | — | $61.0M |
| 自由现金流经营现金流 - 资本支出 | — | $43.0M |
| 自由现金流率自由现金流/营收 | — | 3.4% |
| 资本支出强度资本支出/营收 | 1.5% | 1.4% |
| 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 | — | $234.0M |
8季度趋势，按日历期对齐
经营现金流BXPTNET
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $61.0M | ||
| Q3 25 | $274.2M | $72.0M | ||
| Q2 25 | $353.1M | $75.0M | ||
| Q1 25 | $210.0M | $95.0M | ||
| Q4 24 | $383.7M | $65.0M | ||
| Q3 24 | $286.1M | $84.0M | ||
| Q2 24 | $367.1M | $39.0M |
自由现金流BXPTNET
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $43.0M | ||
| Q3 25 | $231.6M | $55.0M | ||
| Q2 25 | $281.5M | $57.0M | ||
| Q1 25 | $152.6M | $79.0M | ||
| Q4 24 | $312.5M | $47.0M | ||
| Q3 24 | $234.5M | $59.0M | ||
| Q2 24 | $332.4M | $22.0M |
自由现金流率BXPTNET
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 3.4% | ||
| Q3 25 | 26.6% | 4.5% | ||
| Q2 25 | 32.4% | 4.6% | ||
| Q1 25 | 17.6% | 6.1% | ||
| Q4 24 | 36.4% | 3.7% | ||
| Q3 24 | 27.3% | 4.8% | ||
| Q2 24 | 39.1% | 1.8% |
资本支出强度BXPTNET
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 1.4% | ||
| Q3 25 | 4.9% | 1.4% | ||
| Q2 25 | 8.2% | 1.5% | ||
| Q1 25 | 6.6% | 1.2% | ||
| Q4 24 | 8.3% | 1.4% | ||
| Q3 24 | 6.0% | 2.0% | ||
| Q2 24 | 4.1% | 1.4% |
现金转化率BXPTNET
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | 3.97× | 2.03× | ||
| Q1 25 | 3.43× | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.42× | 1.87× | ||
| Q2 24 | 4.61× | 0.65× |
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% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
