BXP Stock Analysis: BXP | NYSE
REIT - Office | NYSE, USA | Market Cap: 11.292m USD | 12M Return: -16.3% | US1011211018 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 82.7M
EPS Trend: 63.5%
Qual. Beats: 0
Rev. Trend: 98.0%
Qual. Beats: 16
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
BXP, Inc. (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, operating as a fully integrated real estate investment trust (REIT) since its incorporation in Delaware in 1970 and headquartered in Boston, Massachusetts. The company concentrates its portfolio in six high-demand gateway markets-Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC-areas typically characterized by constrained supply and premium commercial rents. As a REIT, BXP is structured to distribute the majority of its taxable income to shareholders in exchange for favorable tax treatment.
As of June 30, 2026, BXPs portfolio totals 51.1 million square feet across 164 properties (including joint venture assets), comprising 143 office properties, 13 retail properties, seven residential properties (four under construction), and one hotel, with six additional properties in construction or redevelopment. The company is recognized for its in-house building management capabilities and its track record developing premium Central Business District (CBD) office buildings, mixed-use complexes, suburban office centers, and build-to-suit projects for creditworthy tenants. With more than 55 years of operating history, BXP also emphasizes sustainable and responsible growth practices across its development and operations.
- Gateway market leasing volume drives same-store NOI growth
- Federal Reserve rate path impacts cap rates and dividend yields
- Hybrid work adoption weighs on CBD office occupancy
| Net Income: 296.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -1.30 > 1.0 |
| NWC/Revenue: -1.20% < 20% (prev 15.90%; Δ -17.10% < -1%) |
| CFO/TA 0.05 > 3% & CFO 1.28b > Net Income 296.9m |
| Net Debt (16.5b) to EBITDA (1.86b): 8.87 < 3 |
| Current Ratio: 0.94 > 1.5 & < 3 |
| Outstanding Shares: last quarter (159.6m) vs 12m ago 0.63% < -2% |
| Gross Margin: 46.81% > 18% (prev 54.24%; Δ -7.44% > 0.5%) |
| Asset Turnover: 13.85% > 50% (prev 13.47%; Δ 0.37% > 0%) |
| Interest Coverage Ratio: 1.50 > 6 (EBIT TTM 927.7m / Interest Expense TTM 620.1m) |
| A: -0.00 (Total Current Assets 707.8m - Total Current Liabilities 750.0m) / Total Assets 25.2b |
| B: -0.07 (Retained Earnings -1.73b / Total Assets 25.2b) |
| C: 0.04 (EBIT TTM 927.7m / Avg Total Assets 25.4b) |
| D: 0.30 (Book Value of Equity 5.16b / Total Liabilities 17.4b) |
| Altman-Z'' = 0.32 = B |
| DSRI: 1.38 (Receivables 154.4m/109.7m, Revenue 3.52b/3.45b) |
| GMI: 1.16 (GM 54.24% / 46.81%) |
| AQI: 1.98 (AQ_t 0.16 / AQ_t-1 0.08) |
| SGI: 1.02 (Revenue 3.52b / 3.45b) |
| TATA: -0.04 (NI 296.9m - CFO 1.28b) / TA 25.2b) |
| Beneish M = -1.98 (Cap -4..+1) = B |
As of October 03, 2026, the stock is trading at USD 60.45 with a total of 966,725 shares traded. Over the past week, the price has changed by -3.56%, over one month by -8.88%, over three months by -11.80% and over the past year by -16.32%.
Current recommended Stop Loss: 56.60 (which is 6.4% or 2.6 ATR below the current price).
BXP has received a consensus analysts rating of 3.55. Therefore, it is recommended to hold BXP.
- StrongBuy: 6
- Buy: 3
- Hold: 11
- Sell: 1
- StrongSell: 1
| Analysts Target Price | 76.4 | 26.3% |
P/E Trailing = 34.1148
P/E Forward = 27.3224
P/S = 3.5396
P/B = 1.9284
P/EG = 2.3159
Revenue TTM = 3.52b USD
EBIT TTM = 927.7m USD
EBITDA TTM = 1.86b USD
Long Term Debt = 14.9b USD (from longTermDebt, last quarter)
Short Term Debt = 750.0m USD (from shortTermDebt, last quarter)
Debt = 17.1b USD (from shortLongTermDebtTotal, last quarter) + Leases 739.9m
Net Debt = 16.5b USD (calculated: Debt 17.1b - CCE 553.5m)
Enterprise Value = 27.8b USD (11.3b + Debt 17.1b - CCE 553.5m)
Interest Coverage Ratio = 1.50 (Ebit TTM 927.7m / Interest Expense TTM 620.1m)
EV/FCF = 77.16x (Enterprise Value 27.8b / FCF TTM 360.8m)
FCF Yield = 1.30% (FCF TTM 360.8m / Enterprise Value 27.8b)
FCF Margin = 10.26% (FCF TTM 360.8m / Revenue TTM 3.52b)
Net Margin = 8.44% (Net Income TTM 296.9m / Revenue TTM 3.52b)
Gross Margin = 46.81% ((Revenue TTM 3.52b - Cost of Revenue TTM 1.87b) / Revenue TTM)
Gross Margin QoQ = 8.08% (prev 59.07%)
Tobins Q-Ratio = 1.11 (Enterprise Value 27.8b / Total Assets 25.2b)
Interest Expense / Debt = 3.63% (Interest Expense 620.1m / Debt 17.1b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 732.9m (EBIT 927.7m * (1 - 21.00%))
Current Ratio = 0.94 (Total Current Assets 707.8m / Total Current Liabilities 750.0m)
Debt / Equity = 3.31 (Debt 17.1b / totalStockholderEquity, last quarter 5.16b)
Debt / EBITDA = 8.87 (Net Debt 16.5b / EBITDA 1.86b)
Debt / FCF = 45.86 (Net Debt 16.5b / FCF TTM 360.8m)
Total Stockholder Equity = 5.12b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.17% (Net Income 296.9m / Total Assets 25.2b)
RoE = 5.80% (Net Income TTM 296.9m / Total Stockholder Equity 5.12b)
RoCE = 4.64% (EBIT 927.7m / Capital Employed (Equity 5.12b + L.T.Debt 14.9b))
RoIC = 2.93% (NOPAT 732.9m / Invested Capital 25.0b)
WACC = 4.62% (E(11.3b)/V(28.4b) * Re(7.29%) + D(17.1b)/V(28.4b) * Rd(3.63%) * (1-Tc(0.21)))
Discount Rate = 7.29% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 89.65 | Cagr: 0.70%
[DCF] Terminal Value 73.10% ; FCFF base≈496.8m ; Y1≈435.7m ; Y5≈352.0m
[DCF] Fair Price = N/A (negative equity: EV 5.65b - Net Debt 16.5b = -10.9b; debt exceeds intrinsic value)
EPS Correlation: 63.51 | EPS CAGR: 35.67% | SUE: 0.21 | # QB: 0
Revenue Correlation: 97.98 | Revenue CAGR: 2.98% | SUE: 3.08 | # QB: 16
EPS current Quarter (2026-09-30): EPS=0.54 | Chg30d=+5.68% | Revisions=+0% | Analysts=2
EPS current Year (2026-12-31): EPS=2.10 | Chg30d=+8.13% | Revisions=+25% | GrowthEPS=+23.4% | GrowthRev=+2.0%
EPS next Year (2027-12-31): EPS=2.22 | Chg30d=+6.25% | Revisions=+50% | GrowthEPS=+6.0% | GrowthRev=+2.1%
[Analyst] Revisions Ratio: +44% (up=5, down=1)