BXP

BXP, Inc.

Fundamental data last updated:October 15, 2026

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company profile

SECTOR

Real Estate

industry

REIT - Office

Exchange

NYSE

County of HQ

US

Next Earnings Date

Pending Announcement

Business Summary

Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space. The Company's portfolio totals 51.2 million square feet and 196 properties, including six properties under construction/redevelopment.

 


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VALUATION

P/E

30.45

Market Cap ($M USD)

$9.71B

Forward P/E

N/A

PEG

N/A

PRICE TO SALES

2.78

PRICE TO BOOK

1.88

EV / EBITDA

13.40

5-Year Average P/E

Free Cash Flow Yield

4.80%

DCF Value

$164.50

Graham Number

$38.21

Price to FCF

20.85

EV to FCF

54.06

Earnings Yield

3.28%

FCF Yield

4.80%

DIVIDEND

Yield

5.06%

Annual Payout

$3.08

Payout Ratio

187.21%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$2.00

Next Year EPS Growth Estimate

$0.00

Next Year Revenue Growth Estimate

$3.74B

Return on Equity (ROE)

6.17%

FREE CASH FLOW

Operating Margin

35.22%

Debt-to-Equity

3.37

Piotroski F-Score

5

Altman Z-Score

0.48

Return on Invested Capital (ROIC)

5.19%

Current Ratio

0.59

Quick Ratio

0.59

Net Debt to EBITDA

8.23

Interest Coverage

1.95

Gross Profit margin

60.20%

FCF PER SHARE

$2.93

REVENUE PER SHARE

$21.98

Analyze BXP on TradingView

Gainseekers Quantitative Analysis

Summary

BXP’s valuation appears to be a paradox. Despite a DCF value significantly higher than its snapshot price, the market seems cautious, likely due to a high Price/Earnings ratio of 29.72 and a concerning Altman Z-score of 0.47, signaling financial distress. The Earnings Yield of 3.36% suggests limited immediate returns, while the absence of a Forward P/E indicates uncertainty in future earnings. The Graham Number further underscores potential undervaluation, yet the market’s skepticism may be rooted in its structural risks.

AI Exposure / Tech Reliance

As a REIT in the office sector, BXP faces challenges in adapting to AI and tech shifts. However, its real estate holdings could benefit from tech-driven efficiencies in property management. The company's ability to integrate smart building technologies will be crucial to maintaining relevance.

The Bull Case

For the value-driven investor, BXP offers compelling reasons to buy. A robust ROIC of 5.19% and a solid operating margin of 35.22% highlight its capital efficiency and pricing power. The Piotroski F-Score of 5 indicates moderate financial health, while a Free Cash Flow Yield of 4.94% suggests potential for future growth. These metrics paint a picture of a company with the ability to generate and sustain cash flow effectively.

The Bear Case

Yet, BXP is not without its flaws. The Debt/Equity ratio of 3.37 is alarmingly high, raising concerns about leverage and financial stability. Its Price/Book ratio of 1.83 and Price/Sales of 2.70 suggest the stock is not cheap, especially with a Net Debt to EBITDA of 8.23, indicating significant debt burden. The Altman Z-score further highlights the risk of financial distress, making it a risky proposition for conservative investors.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$66.33

Institutional Ownership %

1-Year Beta

1.06

Insider Buying % (6 Mo)

Distance to 52-Week High

30.32%

Distance to 52-Week Low

18.32%

EARNINGS SURPRISE %

0.63%

50-DAY SMA

$56.45

200-DAY SMA

$65.27

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.