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BXP, Inc.（BXP）与沃茨水工业（WTS）财务数据对比。点击上方公司名可切换其他公司
BXP, Inc.的季度营收约是沃茨水工业的1.4倍（$872.1M vs $625.1M），BXP, Inc.净利率更高（15.3% vs 13.4%，领先1.9%），沃茨水工业同比增速更快（15.7% vs 0.8%），过去两年沃茨水工业的营收复合增速更高（4.6% 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。
沃茨水工业旗下AERCO是暖通管道领域的商用冷凝锅炉、高效热水设备及能量回收系统供应商，服务覆盖教育、住宿、政府、办公楼、医疗、工业、多户型住宅等多元市场，1949年推出行业首款半即热式无罐蒸汽热水器，1988年推出首款冷凝全调制设备。
BXP vs WTS — 直观对比
营收规模更大
BXP
是对方的1.4倍
$625.1M
营收增速更快
WTS
高出14.9%
0.8%
净利率更高
BXP
高出1.9%
13.4%
两年增速更快
WTS
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $625.1M |
| 净利润 | $133.0M | $83.7M |
| 毛利率 | — | 49.5% |
| 营业利润率 | — | 18.2% |
| 净利率 | 15.3% | 13.4% |
| 营收同比 | 0.8% | 15.7% |
| 净利润同比 | 53.0% | 24.0% |
| 每股收益（稀释后） | $1.69 | $2.50 |
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BXPWTS
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $625.1M | ||
| Q3 25 | $871.5M | $611.7M | ||
| Q2 25 | $868.5M | $643.7M | ||
| Q1 25 | $865.2M | $558.0M | ||
| Q4 24 | $858.6M | $540.4M | ||
| Q3 24 | $859.2M | $543.6M | ||
| Q2 24 | $850.5M | $597.3M |
净利润BXPWTS
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $83.7M | ||
| Q3 25 | $-121.7M | $82.2M | ||
| Q2 25 | $89.0M | $100.9M | ||
| Q1 25 | $61.2M | $74.0M | ||
| Q4 24 | $-228.9M | $67.5M | ||
| Q3 24 | $83.6M | $69.1M | ||
| Q2 24 | $79.6M | $82.0M |
毛利率BXPWTS
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 49.5% | ||
| Q3 25 | 59.3% | 48.8% | ||
| Q2 25 | 59.2% | 50.6% | ||
| Q1 25 | 59.2% | 48.8% | ||
| Q4 24 | 59.7% | 46.7% | ||
| Q3 24 | 59.5% | 47.3% | ||
| Q2 24 | 59.8% | 47.7% |
营业利润率BXPWTS
| Q1 26 | — | — | ||
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 18.2% | ||
| Q2 25 | — | 21.0% | ||
| Q1 25 | — | 15.7% | ||
| Q4 24 | — | 16.5% | ||
| Q3 24 | — | 17.1% | ||
| Q2 24 | — | 18.7% |
净利率BXPWTS
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 13.4% | ||
| Q3 25 | -14.0% | 13.4% | ||
| Q2 25 | 10.2% | 15.7% | ||
| Q1 25 | 7.1% | 13.3% | ||
| Q4 24 | -26.7% | 12.5% | ||
| Q3 24 | 9.7% | 12.7% | ||
| Q2 24 | 9.4% | 13.7% |
每股收益（稀释后）BXPWTS
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $2.50 | ||
| Q3 25 | $-0.77 | $2.45 | ||
| Q2 25 | $0.56 | $3.01 | ||
| Q1 25 | $0.39 | $2.21 | ||
| Q4 24 | $-1.46 | $2.02 | ||
| Q3 24 | $0.53 | $2.06 | ||
| Q2 24 | $0.51 | $2.44 |
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 | $405.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $2.0B |
| 总资产 | $25.1B | $2.9B |
| 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BXPWTS
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $405.5M | ||
| Q3 25 | $861.1M | $457.7M | ||
| Q2 25 | $447.0M | $369.3M | ||
| Q1 25 | $398.1M | $336.8M | ||
| Q4 24 | $1.3B | $386.9M | ||
| Q3 24 | $1.4B | $303.9M | ||
| Q2 24 | $685.4M | $279.4M |
股东权益BXPWTS
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $2.0B | ||
| Q3 25 | $5.0B | $2.0B | ||
| Q2 25 | $5.3B | $1.9B | ||
| Q1 25 | $5.3B | $1.8B | ||
| Q4 24 | $5.4B | $1.7B | ||
| Q3 24 | $5.8B | $1.7B | ||
| Q2 24 | $5.8B | $1.6B |
总资产BXPWTS
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $2.9B | ||
| Q3 25 | $26.0B | $2.7B | ||
| Q2 25 | $25.6B | $2.6B | ||
| Q1 25 | $25.4B | $2.5B | ||
| Q4 24 | $26.1B | $2.4B | ||
| Q3 24 | $26.4B | $2.4B | ||
| Q2 24 | $25.5B | $2.4B |
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 | — | $154.7M |
| 自由现金流经营现金流 - 资本支出 | — | $140.3M |
| 自由现金流率自由现金流/营收 | — | 22.4% |
| 资本支出强度资本支出/营收 | 1.5% | 2.3% |
| 现金转化率经营现金流/净利润 | — | 1.85× |
| 过去12个月自由现金流最近4个季度 | — | $356.3M |
8季度趋势，按日历期对齐
经营现金流BXPWTS
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $154.7M | ||
| Q3 25 | $274.2M | $122.4M | ||
| Q2 25 | $353.1M | $69.7M | ||
| Q1 25 | $210.0M | $55.2M | ||
| Q4 24 | $383.7M | $139.5M | ||
| Q3 24 | $286.1M | $90.7M | ||
| Q2 24 | $367.1M | $85.3M |
自由现金流BXPWTS
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $140.3M | ||
| Q3 25 | $231.6M | $110.9M | ||
| Q2 25 | $281.5M | $59.5M | ||
| Q1 25 | $152.6M | $45.6M | ||
| Q4 24 | $312.5M | $127.5M | ||
| Q3 24 | $234.5M | $84.3M | ||
| Q2 24 | $332.4M | $78.5M |
自由现金流率BXPWTS
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 22.4% | ||
| Q3 25 | 26.6% | 18.1% | ||
| Q2 25 | 32.4% | 9.2% | ||
| Q1 25 | 17.6% | 8.2% | ||
| Q4 24 | 36.4% | 23.6% | ||
| Q3 24 | 27.3% | 15.5% | ||
| Q2 24 | 39.1% | 13.1% |
资本支出强度BXPWTS
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 2.3% | ||
| Q3 25 | 4.9% | 1.9% | ||
| Q2 25 | 8.2% | 1.6% | ||
| Q1 25 | 6.6% | 1.7% | ||
| Q4 24 | 8.3% | 2.2% | ||
| Q3 24 | 6.0% | 1.2% | ||
| Q2 24 | 4.1% | 1.1% |
现金转化率BXPWTS
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 1.85× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | 3.97× | 0.69× | ||
| Q1 25 | 3.43× | 0.75× | ||
| Q4 24 | — | 2.07× | ||
| Q3 24 | 3.42× | 1.31× | ||
| Q2 24 | 4.61× | 1.04× |
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% |
WTS
暂无分部数据
