Saturday 10 October 2026
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BXP, Inc.
BXP, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.5 billion, up 2.19% from fiscal 2024. In the quarter to June 2026, revenue grew 3.14%, EPS fell 23.2%, free cash flow grew 38.7% and total debt fell 1.27%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for five consecutive years.
59.05
0.27
−0.46%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 107.28 | 116.77 | 107.84 | 107.94 | 69.69 | 88.45 | 64.43 | 46.18 | 56.46 | 54.22 |
Analyst estimates 2026–2028 Powerpack |
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| High | 144.02 | 140.13 | 132.82 | 140.35 | 147.83 | 124.24 | 133.11 | 79.42 | 90.11 | 79.33 | |||||
| People | |||||||||||||||
| People | Employees | 785 | 740 | 760 | 760 | 750 | 743 | 780 | 727 | 710 | 714 | ||||
| Revenue/emp, $m | 3.25 | 3.52 | 3.58 | 3.90 | 3.69 | 3.89 | 3.99 | 4.50 | 4.80 | 4.88 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 2,551 | 2,602 | 2,717 | 2,961 | 2,766 | 2,889 | 3,109 | 3,274 | 3,408 | 3,482 | ||||
| Gross margin, % | 63.88 | 63.03 | 62.72 | 63.38 | 62.75 | 64.20 | 63.47 | 62.85 | 61.20 | 60.64 | |||||
| EBT | 570 | 562 | 713 | 652 | 1,019 | 632 | 1,021 | 291 | 84 | 384 | |||||
| EBT margin, % | 22.34 | 21.62 | 26.23 | 22.02 | 36.83 | 21.88 | 32.83 | 8.90 | 2.47 | 11.03 | |||||
| Net income | 570 | 562 | 713 | 652 | 1,019 | 632 | 1,021 | 291 | 84 | 384 | |||||
| Depreciation | 694 | 618 | 646 | 680 | 686 | 721 | 752 | 833 | 888 | 911 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 16.59 | 16.88 | 17.59 | 19.15 | 17.79 | 18.50 | 19.83 | 20.87 | 21.64 | 21.99 | ||||
| Earnings | 3.25 | 2.93 | 3.71 | 3.31 | 5.54 | 3.18 | 5.41 | 1.21 | 0.09 | 1.74 | |||||
| Cash flow | 6.73 | 5.91 | 7.45 | 7.64 | 7.44 | 7.26 | 8.18 | 8.30 | 7.84 | 7.86 | |||||
| Capex | (5.44) | (6.63) | (4.14) | (6.71) | (3.25) | (6.22) | (8.81) | (6.51) | (7.16) | (3.87) | |||||
| Free cash flow | 1.29 | (0.72) | 3.31 | 0.93 | 4.19 | 1.04 | (0.63) | 1.79 | 0.68 | 4.00 | |||||
| Book value | 51.60 | 52.55 | 53.19 | 51.84 | 53.65 | 51.46 | 53.37 | 52.17 | 50.41 | 48.54 | |||||
| Shares, m | 154 | 154 | 154 | 155 | 155 | 156 | 157 | 157 | 157 | 158 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 39.01 | 44.12 | 30.42 | 41.78 | 17.06 | 36.22 | 12.31 | 59.10 | 743.60 | 38.78 | ||||
| P/S | 7.66 | 7.66 | 6.40 | 7.20 | 5.31 | 6.22 | 3.36 | 3.45 | 3.44 | 3.07 | |||||
| P/B | 2.53 | 2.52 | 2.17 | 2.73 | 1.81 | 2.24 | 1.25 | 1.38 | 1.48 | 1.39 | |||||
| EV/Sales | 11.27 | 11.41 | 10.21 | 11.03 | 9.49 | 10.60 | 7.78 | 7.93 | 7.91 | 7.49 | |||||
| EV/FCF | 145.17 | (269.07) | 54.30 | 225.97 | 40.32 | 188.99 | (244.22) | 92.57 | 253.20 | 41.26 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 1,035 | 912 | 1,150 | 1,181 | 1,157 | 1,133 | 1,282 | 1,302 | 1,235 | 1,245 | ||||
| Capex | (837) | (1,022) | (639) | (1,037) | (506) | (971) | (1,381) | (1,021) | (1,128) | (613) | |||||
| Free cash flow | 198 | (110) | 511 | 145 | 651 | 162 | (99) | 281 | 106 | 633 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 589 | 1,044 | 1,394 | 1,472 | 2,573 | 1,470 | 1,665 | 2,602 | 2,487 | 2,636 | ||||
| Total debt | 9,616 | 10,272 | 11,008 | 12,036 | 13,284 | 13,141 | 14,490 | 16,274 | 16,591 | 16,970 | |||||
| Net debt | 9,196 | 9,766 | 10,369 | 11,344 | 11,565 | 12,640 | 13,753 | 14,662 | 15,256 | 15,412 | |||||
| Shareholders’ equity | 7,932 | 8,102 | 8,214 | 8,014 | 8,340 | 8,033 | 8,364 | 8,184 | 7,938 | 7,685 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 2.70 | 2.36 | 2.89 | 2.46 | 3.91 | 2.19 | 3.65 | 0.76 | 0.05 | 1.06 | ||||
| ROIC | 3.01 | 3.18 | 3.07 | 3.30 | 2.84 | 2.93 | 2.99 | 2.83 | 2.75 | 2.74 | |||||
| ROE | 6.52 | 5.78 | 7.19 | 6.46 | 10.81 | 6.14 | 10.35 | 2.30 | 0.18 | 3.54 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
BXP, Inc. vs peers in Reit Office (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| BXP BXP, Inc. | $10.4B | 31.7× | 32.8× | +3.14% (above 0%: growing) | −23.21% (below 0%: shrinking) | +38.70% (above 0%: growing) | 61.43% | 28.91% | |
| ARE Alexandria Real Estate Equities, Inc. | $8.0B | — (loss-making) | — (loss-making) | −13.03% (below 0%: shrinking) | n/m | −158.14% (below 0%: shrinking) | 68.72% | 17.23% | Compare |
| CDP COPT Defense Properties | $7.6B | 23.3× | 24.5× | +3.94% (above 0%: growing) | +17.65% (above 0%: growing) | +76.90% (above 0%: growing) | 60.18% | 32.03% | Compare |
| VNO Vornado Realty Trust | $6.9B | 1,681× | — (loss-making) | +4.71% (above 0%: growing) | −97.93% (below 0%: shrinking) | −90.54% (below 0%: shrinking) | 51.58% | 5.54% | Compare |
| CUZ Cousins Properties Incorporated | $4.6B | 691× | 145× | +11.83% (above 0%: growing) | +77.78% (above 0%: growing) | +811.42% (above 0%: growing) | 68.47% | 24.85% | Compare |
| KRC Kilroy Realty Corporation | $4.0B | 24.0× | 155× | −6.04% (below 0%: shrinking) | −70.69% (below 0%: shrinking) | −83.18% (below 0%: shrinking) | 65.29% | 23.99% | Compare |
| SLG SL Green Realty Corporation | $3.7B | — (loss-making) | — (loss-making) | +9.13% (above 0%: growing) | n/m | +7,443.12% (above 0%: growing) | 48.82% | 7.84% | Compare |
| HIW Highwoods Properties, Inc. | $3.2B | 19.0× | 31.1× | +7.87% (above 0%: growing) | +400.00% (above 0%: growing) | +364.51% (above 0%: growing) | 67.58% | 26.47% | Compare |
| DEI Douglas Emmett, Inc. | $1.7B | — (loss-making) | — (loss-making) | +1.63% (above 0%: growing) | n/m | +41.06% (above 0%: growing) | 63.19% | 19.62% | Compare |
| Median of peers | $4.3B | 24.0× | 88.1× | +4.33% | +17.65% | +58.98% | 64.24% | 21.81% |
BXP metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
BXP, Inc. (BXP) key facts
- Strength: BXP, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.5 billion, up 2.19% from fiscal 2024.
- Strength: Net income was $384.0 million, or $1.74 per share (basic), a net margin of 7.95%.
- BXP, Inc. (BXP) is a Reit Office company in the Real Estate sector, listed on the New York Stock Exchange.
- As of October 9, 2026, BXP traded at $59.05, a market capitalization of $10.4 billion.
- At that price the stock trades at 31.7× trailing-twelve-month earnings and 2.7× sales; its P/E is higher than 28% of its own readings over the past ten years.
- BXP, Inc. pays an annual dividend of $2.80 per share, a yield of 4.74%, with a payout ratio of 150.5%.
- Return on equity was 3.54% and debt-to-equity 2.07.
- Its Piotroski F-score is 5 out of 9 for fiscal 2025.