Overview Dividends

(BXP) Boston Properties - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US1011211018

Office Buildings, Workplaces, Commercial Real Estate, Gateway Markets, REIT

EPS (Earnings per Share)

EPS (Earnings per Share) of BXP over the last years for every Quarter: "2020-09": 0.58, "2020-12": 0.62, "2021-03": 0.59, "2021-06": 0.71, "2021-09": 0.69, "2021-12": 0.72, "2022-03": 0.78, "2022-06": 0.84, "2022-09": 0.64, "2022-12": 0.34, "2023-03": 0.48, "2023-06": 0.65, "2023-09": -0.71, "2023-12": 0.57, "2024-03": 0.44, "2024-06": 0.5, "2024-09": 0.51, "2024-12": 0.71, "2025-03": 0.4, "2025-06": 0.56, "2025-09": -0.36,
EPS Growth (3y CAGR): -30.76%
EPS Trend (3y Corr): -6.1%
Last SUE: -1.48σ
Qual. Beats: 0

Revenue

Revenue of BXP over the last years for every Quarter: 2020-09: 693.268, 2020-12: 665.089, 2021-03: 713.695, 2021-06: 713.807, 2021-09: 730.056, 2021-12: 731.063, 2022-03: 754.307, 2022-06: 773.927, 2022-09: 790.523, 2022-12: 789.824, 2023-03: 803.2, 2023-06: 817.153, 2023-09: 824.283, 2023-12: 828.933, 2024-03: 839.439, 2024-06: 850.482, 2024-09: 859.227, 2024-12: 858.571, 2025-03: 865.215, 2025-06: 868.457, 2025-09: 871.51,
Revenue Growth (3y CAGR): 3.64%
Revenue Trend (3y Corr): 97.6%
Last SUE: 1.90σ
Qual. Beats: 15
Risk via 10d forecast
Volatility 29.8%
Value at Risk 5%th 48.7%
Relative Tail Risk -0.73%
Reward TTM
Sharpe Ratio -0.21
Alpha -19.48
Character TTM
Hurst Exponent 0.607
Beta 0.925
Beta Downside 0.984
Drawdowns 3y
Max DD 39.56%
Mean DD 16.05%
Median DD 15.69%

Description: BXP Boston Properties October 31, 2025

Boston Properties (NYSE:BXP) is the largest publicly traded REIT focused on premium office properties in the United States, operating primarily in six “gateway” markets-Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. As of June 30 2025, the company’s portfolio, including joint-venture assets, comprises roughly 53.7 million sq ft across 186 properties, with ten sites currently under construction or redevelopment.

Key performance indicators from the latest filings show an occupancy rate of about 93 % in Q2 2025 and FY 2025 funds-from-operations (FFO) of $1.12 per share, supporting a dividend yield near 5.2 %. The REIT’s net-debt-to-FFO leverage sits around 3.0×, reflecting a balance between growth-oriented capex (≈ $1.6 billion in 2025) and the need to preserve cash amid a higher-for-longer interest-rate environment. A primary sector driver remains the limited supply of Class-A office space in these high-density metros, which cushions rent growth despite broader hybrid-work trends that have softened demand in secondary markets.

For a deeper quantitative assessment, you may find ValueRay’s platform useful for benchmarking BXP’s metrics against peers.

BXP Stock Overview

Market Cap in USD 12,273m
Sub-Industry Diversified REITs
IPO / Inception 1997-06-18
Return 12m vs S&P 500 -18.7%
Analyst Rating 3.55 of 5

BXP Dividends

Metric Value
Dividend Yield 5.20%
Yield on Cost 5y 4.68%
Yield CAGR 5y 0.00%
Payout Consistency 92.8%
Payout Ratio 2.8%

BXP Growth Ratios

Metric Value
CAGR 3y 6.39%
CAGR/Max DD Calmar Ratio 0.16
CAGR/Mean DD Pain Ratio 0.40
Current Volume 888.8k
Average Volume 1535.6k

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income (-200.4m TTM) > 0 and > 6% of Revenue (6% = 207.8m TTM)
FCFTA 0.05 (>2.0%) and ΔFCFTA 1.17pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue 35.88% (prev 8.36%; Δ 27.52pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA 0.05 (>3.0%) and CFO 1.22b > Net Income -200.4m (YES >=105%, WARN >=100%)
Net Debt (16.49b) to EBITDA (1.42b) ratio: 11.59 <= 3.0 (WARN <= 3.5)
Current Ratio 1.84 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (158.3m) change vs 12m ago 0.08% (target <= -2.0% for YES)
Gross Margin 60.84% (prev 41.84%; Δ 19.00pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 13.22% (prev 12.79%; Δ 0.43pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
Interest Coverage Ratio 0.77 (EBITDA TTM 1.42b / Interest Expense TTM 660.9m) >= 6 (WARN >= 3)

Altman Z'' 0.11

(A) 0.05 = (Total Current Assets 2.72b - Total Current Liabilities 1.48b) / Total Assets 26.00b
(B) -0.07 = Retained Earnings (Balance) -1.81b / Total Assets 26.00b
(C) 0.02 = EBIT TTM 510.4m / Avg Total Assets 26.20b
(D) -0.10 = Book Value of Equity -1.83b / Total Liabilities 18.48b
Total Rating: 0.11 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 56.59

1. Piotroski 4.0pt
2. FCF Yield 4.25%
3. FCF Margin 35.26%
4. Debt/Equity 3.46
5. Debt/Ebitda 11.59
6. ROIC - WACC (= -3.59)%
7. RoE -3.82%
8. Rev. Trend 97.58%
9. EPS Trend -6.09%

What is the price of BXP shares?

As of November 22, 2025, the stock is trading at USD 70.04 with a total of 888,795 shares traded.
Over the past week, the price has changed by -0.85%, over one month by -2.68%, over three months by +6.44% and over the past year by -8.69%.

Is BXP a buy, sell or hold?

Boston Properties has received a consensus analysts rating of 3.55. Therefor, it is recommend to hold BXP.
  • Strong Buy: 6
  • Buy: 3
  • Hold: 11
  • Sell: 1
  • Strong Sell: 1

What are the forecasts/targets for the BXP price?

Issuer Target Up/Down from current
Wallstreet Target Price 80 14.1%
Analysts Target Price 80 14.1%
ValueRay Target Price 72 2.7%

BXP Fundamental Data Overview November 21, 2025

Market Cap USD = 12.27b (12.27b USD * 1.0 USD.USD)
P/E Forward = 30.8642
P/S = 3.5834
P/B = 2.1877
P/EG = 0.2935
Beta = 1.011
Revenue TTM = 3.46b USD
EBIT TTM = 510.4m USD
EBITDA TTM = 1.42b USD
Long Term Debt = 15.85b USD (from longTermDebt, last quarter)
Short Term Debt = 750.0m USD (from shortTermDebt, last quarter)
Debt = 17.35b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 16.49b USD (from netDebt column, last quarter)
Enterprise Value = 28.76b USD (12.27b + Debt 17.35b - CCE 861.1m)
Interest Coverage Ratio = 0.77 (Ebit TTM 510.4m / Interest Expense TTM 660.9m)
FCF Yield = 4.25% (FCF TTM 1.22b / Enterprise Value 28.76b)
FCF Margin = 35.26% (FCF TTM 1.22b / Revenue TTM 3.46b)
Net Margin = -5.79% (Net Income TTM -200.4m / Revenue TTM 3.46b)
Gross Margin = 60.84% ((Revenue TTM 3.46b - Cost of Revenue TTM 1.36b) / Revenue TTM)
Gross Margin QoQ = 60.83% (prev 60.69%)
Tobins Q-Ratio = 1.11 (Enterprise Value 28.76b / Total Assets 26.00b)
Interest Expense / Debt = 0.95% (Interest Expense 164.3m / Debt 17.35b)
Taxrate = 83.05% (69.9m / 84.2m)
NOPAT = 86.5m (EBIT 510.4m * (1 - 83.05%))
Current Ratio = 1.84 (Total Current Assets 2.72b / Total Current Liabilities 1.48b)
Debt / Equity = 3.46 (Debt 17.35b / totalStockholderEquity, last quarter 5.01b)
Debt / EBITDA = 11.59 (Net Debt 16.49b / EBITDA 1.42b)
Debt / FCF = 13.50 (Net Debt 16.49b / FCF TTM 1.22b)
Total Stockholder Equity = 5.25b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.77% (Net Income -200.4m / Total Assets 26.00b)
RoE = -3.82% (Net Income TTM -200.4m / Total Stockholder Equity 5.25b)
RoCE = 2.42% (EBIT 510.4m / Capital Employed (Equity 5.25b + L.T.Debt 15.85b))
RoIC = 0.41% (NOPAT 86.5m / Invested Capital 21.33b)
WACC = 4.00% (E(12.27b)/V(29.62b) * Re(9.42%) + D(17.35b)/V(29.62b) * Rd(0.95%) * (1-Tc(0.83)))
Discount Rate = 9.42% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.34%
[DCF Debug] Terminal Value 74.47% ; FCFE base≈1.11b ; Y1≈1.18b ; Y5≈1.42b
Fair Price DCF = 123.2 (DCF Value 19.52b / Shares Outstanding 158.5m; 5y FCF grow 7.34% → 3.0% )
EPS Correlation: -6.09 | EPS CAGR: -30.76% | SUE: -1.48 | # QB: 0
Revenue Correlation: 97.58 | Revenue CAGR: 3.64% | SUE: 1.90 | # QB: 15

Additional Sources for BXP Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle