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BXP, Inc.（BXP）与ADVANCED DRAINAGE SYSTEMS, INC.（WMS）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ADVANCED DRAINAGE SYSTEMS, INC.的1.3倍（$872.1M vs $693.4M），BXP, Inc.净利率更高（15.3% vs 13.5%，领先1.7%），BXP, Inc.同比增速更快（0.8% vs 0.4%），过去两年ADVANCED DRAINAGE SYSTEMS, INC.的营收复合增速更高（3.0% 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。
Advanced Drainage Systems（简称ADS）是一家美国企业，主营聚丙烯、聚乙烯管材，塑料渗滤场系统、化粪池及配套配件、雨水调蓄设施、PVC排水构件、管件、水过滤与分离设备的设计、生产及销售，是美国规模最大的高密度聚乙烯管道生产商，总部位于俄亥俄州希利厄德。
BXP vs WMS — 直观对比
营收规模更大
BXP
是对方的1.3倍
$693.4M
营收增速更快
BXP
高出0.4%
0.4%
净利率更高
BXP
高出1.7%
13.5%
两年增速更快
WMS
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $693.4M |
| 净利润 | $133.0M | $93.6M |
| 毛利率 | — | 37.4% |
| 营业利润率 | — | 19.7% |
| 净利率 | 15.3% | 13.5% |
| 营收同比 | 0.8% | 0.4% |
| 净利润同比 | 53.0% | 15.3% |
| 每股收益（稀释后） | $1.69 | $1.19 |
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BXPWMS
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $693.4M | ||
| Q3 25 | $871.5M | $850.4M | ||
| Q2 25 | $868.5M | $829.9M | ||
| Q1 25 | $865.2M | $615.8M | ||
| Q4 24 | $858.6M | $690.5M | ||
| Q3 24 | $859.2M | $782.6M | ||
| Q2 24 | $850.5M | $815.3M |
净利润BXPWMS
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $93.6M | ||
| Q3 25 | $-121.7M | $156.0M | ||
| Q2 25 | $89.0M | $143.9M | ||
| Q1 25 | $61.2M | $77.2M | ||
| Q4 24 | $-228.9M | $81.2M | ||
| Q3 24 | $83.6M | $130.4M | ||
| Q2 24 | $79.6M | $161.4M |
毛利率BXPWMS
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 37.4% | ||
| Q3 25 | 59.3% | 40.0% | ||
| Q2 25 | 59.2% | 39.8% | ||
| Q1 25 | 59.2% | 36.7% | ||
| Q4 24 | 59.7% | 35.0% | ||
| Q3 24 | 59.5% | 37.6% | ||
| Q2 24 | 59.8% | 40.8% |
营业利润率BXPWMS
| Q1 26 | — | — | ||
| Q4 25 | — | 19.7% | ||
| Q3 25 | — | 26.3% | ||
| Q2 25 | — | 24.8% | ||
| Q1 25 | — | 19.0% | ||
| Q4 24 | — | 18.4% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 27.7% |
净利率BXPWMS
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 13.5% | ||
| Q3 25 | -14.0% | 18.3% | ||
| Q2 25 | 10.2% | 17.3% | ||
| Q1 25 | 7.1% | 12.5% | ||
| Q4 24 | -26.7% | 11.8% | ||
| Q3 24 | 9.7% | 16.7% | ||
| Q2 24 | 9.4% | 19.8% |
每股收益（稀释后）BXPWMS
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $1.19 | ||
| Q3 25 | $-0.77 | $1.99 | ||
| Q2 25 | $0.56 | $1.84 | ||
| Q1 25 | $0.39 | $0.99 | ||
| Q4 24 | $-1.46 | $1.04 | ||
| Q3 24 | $0.53 | $1.67 | ||
| Q2 24 | $0.51 | $2.06 |
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 | $1.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $1.9B |
| 总资产 | $25.1B | $4.1B |
| 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BXPWMS
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $1.0B | ||
| Q3 25 | $861.1M | $812.9M | ||
| Q2 25 | $447.0M | $638.3M | ||
| Q1 25 | $398.1M | $463.3M | ||
| Q4 24 | $1.3B | $488.9M | ||
| Q3 24 | $1.4B | $613.0M | ||
| Q2 24 | $685.4M | $541.6M |
总债务BXPWMS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益BXPWMS
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.9B | ||
| Q3 25 | $5.0B | $1.8B | ||
| Q2 25 | $5.3B | $1.7B | ||
| Q1 25 | $5.3B | $1.5B | ||
| Q4 24 | $5.4B | $1.5B | ||
| Q3 24 | $5.8B | $1.4B | ||
| Q2 24 | $5.8B | $1.3B |
总资产BXPWMS
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $4.1B | ||
| Q3 25 | $26.0B | $4.1B | ||
| Q2 25 | $25.6B | $3.9B | ||
| Q1 25 | $25.4B | $3.7B | ||
| Q4 24 | $26.1B | $3.6B | ||
| Q3 24 | $26.4B | $3.5B | ||
| Q2 24 | $25.5B | $3.4B |
负债/权益比BXPWMS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $269.3M |
| 自由现金流经营现金流 - 资本支出 | — | $183.6M |
| 自由现金流率自由现金流/营收 | — | 26.5% |
| 资本支出强度资本支出/营收 | 1.5% | 12.4% |
| 现金转化率经营现金流/净利润 | — | 2.88× |
| 过去12个月自由现金流最近4个季度 | — | $577.1M |
8季度趋势，按日历期对齐
经营现金流BXPWMS
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $269.3M | ||
| Q3 25 | $274.2M | $234.9M | ||
| Q2 25 | $353.1M | $275.0M | ||
| Q1 25 | $210.0M | $41.2M | ||
| Q4 24 | $383.7M | $189.9M | ||
| Q3 24 | $286.1M | $166.9M | ||
| Q2 24 | $367.1M | $183.4M |
自由现金流BXPWMS
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $183.6M | ||
| Q3 25 | $231.6M | $176.4M | ||
| Q2 25 | $281.5M | $222.4M | ||
| Q1 25 | $152.6M | $-5.3M | ||
| Q4 24 | $312.5M | $135.7M | ||
| Q3 24 | $234.5M | $112.4M | ||
| Q2 24 | $332.4M | $125.7M |
自由现金流率BXPWMS
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 26.5% | ||
| Q3 25 | 26.6% | 20.7% | ||
| Q2 25 | 32.4% | 26.8% | ||
| Q1 25 | 17.6% | -0.9% | ||
| Q4 24 | 36.4% | 19.7% | ||
| Q3 24 | 27.3% | 14.4% | ||
| Q2 24 | 39.1% | 15.4% |
资本支出强度BXPWMS
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 12.4% | ||
| Q3 25 | 4.9% | 6.9% | ||
| Q2 25 | 8.2% | 6.3% | ||
| Q1 25 | 6.6% | 7.6% | ||
| Q4 24 | 8.3% | 7.9% | ||
| Q3 24 | 6.0% | 7.0% | ||
| Q2 24 | 4.1% | 7.1% |
现金转化率BXPWMS
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 2.88× | ||
| Q3 25 | — | 1.51× | ||
| Q2 25 | 3.97× | 1.91× | ||
| Q1 25 | 3.43× | 0.53× | ||
| Q4 24 | — | 2.34× | ||
| Q3 24 | 3.42× | 1.28× | ||
| Q2 24 | 4.61× | 1.14× |
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% |
WMS
| Reportable Segment Aggregation Before Other Operating Segment | $557.3M | 80% |
| Other | $85.5M | 12% |
| Pipe | $35.5M | 5% |
| Allied Products And Other | $15.0M | 2% |
