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

BXP EPS (Earnings per Share)

EPS Growth (3Y CAGR): -4.74%
EPS Trend (3Y Correlation): 13.9%

BXP Revenue

Revenue Growth (3Y CAGR): 3.48%
Revenue Trend (3Y Correlation): 98.5%

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	13,115m
Sub-Industry	Diversified REITs
IPO / Inception	1997-06-18

BXP Stock Ratings

Growth Rating	-2.19%
Fundamental	57.8%
Dividend Rating	40.3%
Return 12m vs S&P 500	-23.4%
Analyst Rating	3.55 of 5

BXP Dividends

Dividend Yield 12m	5.11%
Yield on Cost 5y	6.17%
Annual Growth 5y	0.00%
Payout Consistency	92.8%
Payout Ratio	1.7%

BXP Growth Ratios

Growth Correlation 3m	42.8%
Growth Correlation 12m	-8.9%
Growth Correlation 5y	-44.4%
CAGR 5y	5.93%
CAGR/Max DD 3y (Calmar Ratio)	0.15
CAGR/Mean DD 3y (Pain Ratio)	0.37
Sharpe Ratio 12m	0.66
Alpha	-35.09
Beta	1.235
Volatility	32.93%
Current Volume	1853.9k
Average Volume 20d	1847.6k
Stop Loss	69 (-3.1%)
Signal	0.44

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income (4.93m TTM) > 0 and > 6% of Revenue (6% = 207.1m TTM)

FCFTA 0.05 (>2.0%) and ΔFCFTA 0.91pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 15.90% (prev 35.40%; Δ -19.51pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.05 (>3.0%) and CFO 1.23b > Net Income 4.93m (YES >=105%, WARN >=100%)

Net Debt (16.89b) to EBITDA (1.60b) ratio: 10.57 <= 3.0 (WARN <= 3.5)

Current Ratio 1.32 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (158.6m) change vs 12m ago 0.85% (target <= -2.0% for YES)

Gross Margin 54.24% (prev 48.76%; Δ 5.48pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 13.51% (prev 13.12%; Δ 0.39pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 1.06 (EBITDA TTM 1.60b / Interest Expense TTM 659.8m) >= 6 (WARN >= 3)

Altman Z'' 0.03

(A) 0.02 = (Total Current Assets 2.26b - Total Current Liabilities 1.71b) / Total Assets 25.62b

(B) -0.06 = Retained Earnings (Balance) -1.58b / Total Assets 25.62b

(D) -0.09 = Book Value of Equity -1.59b / Total Liabilities 17.77b

Total Rating: 0.03 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 57.83

1. Piotroski 4.0pt = -1.0

2. FCF Yield 4.11% = 2.05

3. FCF Margin 35.72% = 7.50

4. Debt/Equity 3.30 = -1.20

5. Debt/Ebitda 10.57 = -2.50

6. ROIC - WACC (= -4.09)% = -5.11

7. RoE 0.09% = 0.01

8. Rev. Trend 98.46% = 7.38

9. EPS Trend 13.86% = 0.69

What is the price of BXP shares?

As of November 01, 2025, the stock is trading at USD 71.19 with a total of 1,853,879 shares traded.
Over the past week, the price has changed by -4.03%, over one month by -4.24%, over three months by +9.82% and over the past year by -6.95%.

Is Boston Properties a good stock to buy?

Neither. Based on ValueRay´s Fundamental Analyses, Boston Properties is currently (November 2025) neither a good nor a bad stock to buy. It has a ValueRay Fundamental Rating of 57.83 and therefor a neutral outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of BXP is around 72.41 USD . This means that BXP is currently overvalued and has a potential downside of 1.71%.

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	79.5	11.7%
Analysts Target Price	79.5	11.7%
ValueRay Target Price	77.9	9.5%

BXP Fundamental Data Overview October 27, 2025

Market Cap USD = 13.12b (13.12b USD * 1.0 USD.USD)
P/E Trailing = 3709.0
P/E Forward = 39.0625
P/S = 3.8459
P/B = 2.2741
P/EG = 0.3716
Beta = 1.235
Revenue TTM = 3.45b USD
EBIT TTM = 698.7m USD
EBITDA TTM = 1.60b USD
Long Term Debt = 15.06b USD (from longTermDebt, last quarter)
Short Term Debt = 1.72b USD (from shortTermDebt, last quarter)
Debt = 17.34b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 16.89b USD (from netDebt column, last quarter)
Enterprise Value = 30.01b USD (13.12b + Debt 17.34b - CCE 447.0m)
Interest Coverage Ratio = 1.06 (Ebit TTM 698.7m / Interest Expense TTM 659.8m)
FCF Yield = 4.11% (FCF TTM 1.23b / Enterprise Value 30.01b)
FCF Margin = 35.72% (FCF TTM 1.23b / Revenue TTM 3.45b)
Net Margin = 0.14% (Net Income TTM 4.93m / Revenue TTM 3.45b)
Gross Margin = 54.24% ((Revenue TTM 3.45b - Cost of Revenue TTM 1.58b) / Revenue TTM)
Gross Margin QoQ = 60.69% (prev 60.71%)
Tobins Q-Ratio = 1.17 (Enterprise Value 30.01b / Total Assets 25.62b)
Interest Expense / Debt = 0.94% (Interest Expense 162.8m / Debt 17.34b)
Taxrate = 83.05% (69.9m / 84.2m)
NOPAT = 118.4m (EBIT 698.7m * (1 - 83.05%))
Current Ratio = 1.32 (Total Current Assets 2.26b / Total Current Liabilities 1.71b)
Debt / Equity = 3.30 (Debt 17.34b / totalStockholderEquity, last quarter 5.26b)
Debt / EBITDA = 10.57 (Net Debt 16.89b / EBITDA 1.60b)
Debt / FCF = 13.70 (Net Debt 16.89b / FCF TTM 1.23b)
Total Stockholder Equity = 5.44b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.02% (Net Income 4.93m / Total Assets 25.62b)
RoE = 0.09% (Net Income TTM 4.93m / Total Stockholder Equity 5.44b)
RoCE = 3.41% (EBIT 698.7m / Capital Employed (Equity 5.44b + L.T.Debt 15.06b))
RoIC = 0.55% (NOPAT 118.4m / Invested Capital 21.42b)
WACC = 4.64% (E(13.12b)/V(30.46b) * Re(10.57%) + D(17.34b)/V(30.46b) * Rd(0.94%) * (1-Tc(0.83)))
Discount Rate = 10.57% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.43%
[DCF Debug] Terminal Value 70.76% ; FCFE base≈1.14b ; Y1≈1.21b ; Y5≈1.46b
Fair Price DCF = 107.4 (DCF Value 17.01b / Shares Outstanding 158.4m; 5y FCF grow 7.34% → 3.0% )
EPS Correlation: 13.86 | EPS CAGR: -4.74% | SUE: 0.28 | # QB: 0
Revenue Correlation: 98.46 | Revenue CAGR: 3.48% | SUE: 1.13 | # QB: 14

Additional Sources for BXP Stock

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