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BXP, Inc.（BXP）与V2X, Inc.（VVX）财务数据对比。点击上方公司名可切换其他公司
V2X, Inc.的季度营收约是BXP, Inc.的1.4倍（$1.2B vs $872.1M），BXP, Inc.净利率更高（15.3% vs 1.9%，领先13.4%），V2X, Inc.同比增速更快（5.3% vs 0.8%），过去两年V2X, Inc.的营收复合增速更高（9.8% 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。
V2X公司是总部位于美国的技术工程服务供应商，主要服务美国国防部等联邦政府客户，提供任务支持、关键基础设施运维、国家安全相关解决方案，业务覆盖国防、公共安全、运营韧性等核心领域。
BXP vs VVX — 直观对比
营收规模更大
VVX
是对方的1.4倍
$872.1M
营收增速更快
VVX
高出4.5%
0.8%
净利率更高
BXP
高出13.4%
1.9%
两年增速更快
VVX
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $1.2B |
| 净利润 | $133.0M | $22.8M |
| 毛利率 | — | 8.6% |
| 营业利润率 | — | 4.2% |
| 净利率 | 15.3% | 1.9% |
| 营收同比 | 0.8% | 5.3% |
| 净利润同比 | 53.0% | -9.0% |
| 每股收益（稀释后） | $1.69 | $0.73 |
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BXPVVX
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $1.2B | ||
| Q3 25 | $871.5M | $1.2B | ||
| Q2 25 | $868.5M | $1.1B | ||
| Q1 25 | $865.2M | $1.0B | ||
| Q4 24 | $858.6M | $1.2B | ||
| Q3 24 | $859.2M | $1.1B | ||
| Q2 24 | $850.5M | $1.1B |
净利润BXPVVX
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $22.8M | ||
| Q3 25 | $-121.7M | $24.6M | ||
| Q2 25 | $89.0M | $22.4M | ||
| Q1 25 | $61.2M | $8.1M | ||
| Q4 24 | $-228.9M | $25.0M | ||
| Q3 24 | $83.6M | $15.1M | ||
| Q2 24 | $79.6M | $-6.5M |
毛利率BXPVVX
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 8.6% | ||
| Q3 25 | 59.3% | 8.1% | ||
| Q2 25 | 59.2% | 8.9% | ||
| Q1 25 | 59.2% | 7.7% | ||
| Q4 24 | 59.7% | 9.3% | ||
| Q3 24 | 59.5% | 8.5% | ||
| Q2 24 | 59.8% | 6.9% |
营业利润率BXPVVX
| Q1 26 | — | — | ||
| Q4 25 | — | 4.2% | ||
| Q3 25 | — | 4.8% | ||
| Q2 25 | — | 4.9% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 4.6% | ||
| Q2 24 | — | 2.6% |
净利率BXPVVX
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 1.9% | ||
| Q3 25 | -14.0% | 2.1% | ||
| Q2 25 | 10.2% | 2.1% | ||
| Q1 25 | 7.1% | 0.8% | ||
| Q4 24 | -26.7% | 2.2% | ||
| Q3 24 | 9.7% | 1.4% | ||
| Q2 24 | 9.4% | -0.6% |
每股收益（稀释后）BXPVVX
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.73 | ||
| Q3 25 | $-0.77 | $0.77 | ||
| Q2 25 | $0.56 | $0.70 | ||
| Q1 25 | $0.39 | $0.25 | ||
| Q4 24 | $-1.46 | $0.78 | ||
| Q3 24 | $0.53 | $0.47 | ||
| Q2 24 | $0.51 | $-0.21 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $1.1B |
| 总资产 | $25.1B | $3.3B |
| 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BXPVVX
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $861.1M | — | ||
| Q2 25 | $447.0M | — | ||
| Q1 25 | $398.1M | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $685.4M | — |
股东权益BXPVVX
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.1B | ||
| Q3 25 | $5.0B | $1.1B | ||
| Q2 25 | $5.3B | $1.1B | ||
| Q1 25 | $5.3B | $1.0B | ||
| Q4 24 | $5.4B | $1.0B | ||
| Q3 24 | $5.8B | $1.0B | ||
| Q2 24 | $5.8B | $992.0M |
总资产BXPVVX
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $3.3B | ||
| Q3 25 | $26.0B | $3.2B | ||
| Q2 25 | $25.6B | $3.1B | ||
| Q1 25 | $25.4B | $3.1B | ||
| Q4 24 | $26.1B | $3.2B | ||
| Q3 24 | $26.4B | $3.1B | ||
| Q2 24 | $25.5B | $3.2B |
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 | — | $209.5M |
| 自由现金流经营现金流 - 资本支出 | — | $207.2M |
| 自由现金流率自由现金流/营收 | — | 17.0% |
| 资本支出强度资本支出/营收 | 1.5% | 0.2% |
| 现金转化率经营现金流/净利润 | — | 9.20× |
| 过去12个月自由现金流最近4个季度 | — | $170.1M |
8季度趋势，按日历期对齐
经营现金流BXPVVX
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $209.5M | ||
| Q3 25 | $274.2M | $39.4M | ||
| Q2 25 | $353.1M | $28.5M | ||
| Q1 25 | $210.0M | $-95.5M | ||
| Q4 24 | $383.7M | $223.1M | ||
| Q3 24 | $286.1M | $62.7M | ||
| Q2 24 | $367.1M | $25.7M |
自由现金流BXPVVX
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $207.2M | ||
| Q3 25 | $231.6M | $35.0M | ||
| Q2 25 | $281.5M | $26.1M | ||
| Q1 25 | $152.6M | $-98.2M | ||
| Q4 24 | $312.5M | $222.0M | ||
| Q3 24 | $234.5M | $60.5M | ||
| Q2 24 | $332.4M | $24.9M |
自由现金流率BXPVVX
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 17.0% | ||
| Q3 25 | 26.6% | 3.0% | ||
| Q2 25 | 32.4% | 2.4% | ||
| Q1 25 | 17.6% | -9.7% | ||
| Q4 24 | 36.4% | 19.2% | ||
| Q3 24 | 27.3% | 5.6% | ||
| Q2 24 | 39.1% | 2.3% |
资本支出强度BXPVVX
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 0.2% | ||
| Q3 25 | 4.9% | 0.4% | ||
| Q2 25 | 8.2% | 0.2% | ||
| Q1 25 | 6.6% | 0.3% | ||
| Q4 24 | 8.3% | 0.1% | ||
| Q3 24 | 6.0% | 0.2% | ||
| Q2 24 | 4.1% | 0.1% |
现金转化率BXPVVX
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 9.20× | ||
| Q3 25 | — | 1.60× | ||
| Q2 25 | 3.97× | 1.27× | ||
| Q1 25 | 3.43× | -11.78× | ||
| Q4 24 | — | 8.91× | ||
| Q3 24 | 3.42× | 4.16× | ||
| Q2 24 | 4.61× | — |
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% |
VVX
| Army | $480.4M | 39% |
| Navy | $388.9M | 32% |
| Air Force | $196.1M | 16% |
| Other Customers | $153.3M | 13% |
