BXP, Inc.

BXP Real Estate Reit Office

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.

62.77 0.25 −0.40%
Market cap
$11.2B
P/E
33.7×
Fwd P/E
29.4×
Dividend yield
4.46%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

BXP, Inc. (BXP) Earnings & Analysis

Updated · Covers results through Q2 FY2026 · How this is made

Latest quarter

BXP reported revenue of $895.7 million for Q2 FY2026, compared with $868.5 million in Q2 FY2025, a 3.14% increase. On the basis used for the consensus comparison, BXP reported revenue of $831.7 million against consensus revenue of $812.5 million, and it reported adjusted EPS of $1.78 against consensus adjusted EPS of $1.71.

The company reported diluted EPS of $0.43, compared with $0.56 a year earlier, while gross margin was 61.4%, compared with 60.7%, and operating margin was 28.9%, compared with 29.5%. BXP reported free cash flow of $116.6 million, compared with $84.1 million a year earlier. The filing says same-property lease revenue excluding termination income increased by approximately $24.3 million, driven by higher average revenue per square foot and average occupancy. The filing also says total portfolio occupancy reached 88.4% at June 30, 2026, up 100 basis points from the first quarter.

Q2 FY2026 Q2 FY2025 Change
Revenue $895.7 million $868.5 million 3.14%
Diluted EPS $0.43 $0.56 −23.2%
Gross margin 61.4% 60.7% 0.7 percentage points
Operating margin 28.9% 29.5% −0.6 percentage points
Free cash flow $116.6 million $84.1 million 38.7%
Against the consensus Reported Consensus Result
Adjusted EPS $1.78 $1.71 Beat by 4.09%
Revenue $831.7 million $812.5 million Beat by 2.36%

Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.

What management said on the call

No earnings call was available, so BXP’s call commentary, analyst questions and answers, and any call-specific discussion of demand, pricing, margins, investment, competition or the quarter ahead are unavailable.

Guidance

BXP’s July 28 results release provided Q3 FY2026 GAAP EPS guidance of $0.50–$0.52 and non-GAAP FFO per diluted share guidance of $1.80–$1.82. The release provided FY2026 GAAP EPS guidance of $2.14–$2.24 and non-GAAP FFO per diluted share guidance of $6.99–$7.05.

Metric For Guide Previous guide Change
EPS, Non Gaap Ffo FY2026 $6.99–$7.05 — New
EPS, GAAP FY2026 $2.14–$2.24 — New
EPS, Non Gaap Ffo Q3 FY2026 $1.80–$1.82 — New
EPS, GAAP Q3 FY2026 $0.50–$0.52 — New