vs
BXP, Inc.（BXP）与威世（VSH）财务数据对比。点击上方公司名可切换其他公司
BXP, Inc.的季度营收约是威世的1.1倍（$872.1M vs $800.9M），BXP, Inc.净利率更高（15.3% vs 0.1%，领先15.1%），威世同比增速更快（12.1% vs 0.8%），过去两年威世的营收复合增速更高（3.6% 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。
威世（Vishay Intertechnology）是美国知名的分立半导体与被动电子元器件制造商，由企业家菲利克斯·赞德曼创立。公司在以色列、亚洲、欧洲、美洲均设有生产基地，产品覆盖整流器、二极管、MOSFET、光电器件、精选集成电路、电阻器、电容器、电感器等品类，2024年营收达29亿美元，全球全职员工约2.27万人。
BXP vs VSH — 直观对比
营收规模更大
BXP
是对方的1.1倍
$800.9M
营收增速更快
VSH
高出11.3%
0.8%
净利率更高
BXP
高出15.1%
0.1%
两年增速更快
VSH
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $800.9M |
| 净利润 | $133.0M | $986.0K |
| 毛利率 | — | 19.6% |
| 营业利润率 | — | 1.8% |
| 净利率 | 15.3% | 0.1% |
| 营收同比 | 0.8% | 12.1% |
| 净利润同比 | 53.0% | 101.5% |
| 每股收益（稀释后） | $1.69 | $0.01 |
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BXPVSH
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $800.9M | ||
| Q3 25 | $871.5M | $790.6M | ||
| Q2 25 | $868.5M | $762.3M | ||
| Q1 25 | $865.2M | $715.2M | ||
| Q4 24 | $858.6M | $714.7M | ||
| Q3 24 | $859.2M | $735.4M | ||
| Q2 24 | $850.5M | $741.2M |
净利润BXPVSH
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $986.0K | ||
| Q3 25 | $-121.7M | $-7.9M | ||
| Q2 25 | $89.0M | $2.0M | ||
| Q1 25 | $61.2M | $-4.1M | ||
| Q4 24 | $-228.9M | $-66.1M | ||
| Q3 24 | $83.6M | $-19.3M | ||
| Q2 24 | $79.6M | $23.5M |
毛利率BXPVSH
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 19.6% | ||
| Q3 25 | 59.3% | 19.5% | ||
| Q2 25 | 59.2% | 19.5% | ||
| Q1 25 | 59.2% | 19.0% | ||
| Q4 24 | 59.7% | 19.9% | ||
| Q3 24 | 59.5% | 20.5% | ||
| Q2 24 | 59.8% | 22.0% |
营业利润率BXPVSH
| Q1 26 | — | — | ||
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | -7.9% | ||
| Q3 24 | — | -2.5% | ||
| Q2 24 | — | 5.1% |
净利率BXPVSH
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 0.1% | ||
| Q3 25 | -14.0% | -1.0% | ||
| Q2 25 | 10.2% | 0.3% | ||
| Q1 25 | 7.1% | -0.6% | ||
| Q4 24 | -26.7% | -9.2% | ||
| Q3 24 | 9.7% | -2.6% | ||
| Q2 24 | 9.4% | 3.2% |
每股收益（稀释后）BXPVSH
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.01 | ||
| Q3 25 | $-0.77 | $-0.06 | ||
| Q2 25 | $0.56 | $0.01 | ||
| Q1 25 | $0.39 | $-0.03 | ||
| Q4 24 | $-1.46 | $-0.48 | ||
| Q3 24 | $0.53 | $-0.14 | ||
| Q2 24 | $0.51 | $0.17 |
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 | $515.0M |
| 总债务越低越好 | — | $950.9M |
| 股东权益账面价值 | $7.7B | $2.1B |
| 总资产 | $25.1B | $4.2B |
| 负债/权益比越低杠杆越低 | — | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资BXPVSH
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $515.0M | ||
| Q3 25 | $861.1M | $443.9M | ||
| Q2 25 | $447.0M | $473.9M | ||
| Q1 25 | $398.1M | $609.4M | ||
| Q4 24 | $1.3B | $590.3M | ||
| Q3 24 | $1.4B | $643.8M | ||
| Q2 24 | $685.4M | $672.7M |
总债务BXPVSH
| Q1 26 | — | — | ||
| Q4 25 | — | $950.9M | ||
| Q3 25 | — | $919.7M | ||
| Q2 25 | — | $914.5M | ||
| Q1 25 | — | $988.2M | ||
| Q4 24 | — | $905.0M | ||
| Q3 24 | — | $820.8M | ||
| Q2 24 | — | $820.6M |
股东权益BXPVSH
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $2.1B | ||
| Q3 25 | $5.0B | $2.1B | ||
| Q2 25 | $5.3B | $2.1B | ||
| Q1 25 | $5.3B | $2.0B | ||
| Q4 24 | $5.4B | $2.0B | ||
| Q3 24 | $5.8B | $2.2B | ||
| Q2 24 | $5.8B | $2.2B |
总资产BXPVSH
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $4.2B | ||
| Q3 25 | $26.0B | $4.2B | ||
| Q2 25 | $25.6B | $4.2B | ||
| Q1 25 | $25.4B | $4.2B | ||
| Q4 24 | $26.1B | $4.1B | ||
| Q3 24 | $26.4B | $4.2B | ||
| Q2 24 | $25.5B | $4.2B |
负债/权益比BXPVSH
| Q1 26 | — | — | ||
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.49× | ||
| Q4 24 | — | 0.45× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.38× |
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 | — | $149.4M |
| 自由现金流经营现金流 - 资本支出 | — | $54.6M |
| 自由现金流率自由现金流/营收 | — | 6.8% |
| 资本支出强度资本支出/营收 | 1.5% | 11.8% |
| 现金转化率经营现金流/净利润 | — | 151.48× |
| 过去12个月自由现金流最近4个季度 | — | $-89.0M |
8季度趋势，按日历期对齐
经营现金流BXPVSH
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $149.4M | ||
| Q3 25 | $274.2M | $27.6M | ||
| Q2 25 | $353.1M | $-8.8M | ||
| Q1 25 | $210.0M | $16.1M | ||
| Q4 24 | $383.7M | $67.7M | ||
| Q3 24 | $286.1M | $50.6M | ||
| Q2 24 | $367.1M | $-24.7M |
自由现金流BXPVSH
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $54.6M | ||
| Q3 25 | $231.6M | $-24.7M | ||
| Q2 25 | $281.5M | $-73.4M | ||
| Q1 25 | $152.6M | $-45.5M | ||
| Q4 24 | $312.5M | $-77.2M | ||
| Q3 24 | $234.5M | $-9.0M | ||
| Q2 24 | $332.4M | $-87.3M |
自由现金流率BXPVSH
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 6.8% | ||
| Q3 25 | 26.6% | -3.1% | ||
| Q2 25 | 32.4% | -9.6% | ||
| Q1 25 | 17.6% | -6.4% | ||
| Q4 24 | 36.4% | -10.8% | ||
| Q3 24 | 27.3% | -1.2% | ||
| Q2 24 | 39.1% | -11.8% |
资本支出强度BXPVSH
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 11.8% | ||
| Q3 25 | 4.9% | 6.6% | ||
| Q2 25 | 8.2% | 8.5% | ||
| Q1 25 | 6.6% | 8.6% | ||
| Q4 24 | 8.3% | 20.3% | ||
| Q3 24 | 6.0% | 8.1% | ||
| Q2 24 | 4.1% | 8.4% |
现金转化率BXPVSH
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 151.48× | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.97× | -4.39× | ||
| Q1 25 | 3.43× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.42× | — | ||
| Q2 24 | 4.61× | -1.05× |
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% |
VSH
| Resistors Segment | $189.4M | 24% |
| Diodes Segment | $154.2M | 19% |
| Capacitors Segment | $136.5M | 17% |
| Other | $126.4M | 16% |
| Inductors Segment | $92.6M | 12% |
| Optoelectronic Components Segment | $55.7M | 7% |
| EMS Companies | $51.6M | 6% |
