BXP Stock Analysis: BXP | NYSE
REIT - Office | NYSE, USA | Market Cap: 12.018m USD | 12M Return: 5.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 98.5M
EPS Trend: 29.4%
Qual. Beats: 1
Rev. Trend: 98.2%
Qual. Beats: 16
Warnings
Tailwinds
Seasonality 10.5 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. is a fully integrated real estate investment trust (REIT) and the largest publicly traded developer, owner, and manager of premier workplaces in the United States, with more than 55 years of operating history. The companys portfolio is concentrated in six gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC, comprising 143 office properties, 14 retail properties, six residential properties, and one hotel. Founded in 1970 by Mortimer B. Zuckerman and Edward H. Linde, BXP went public in 1997 and is an S&P 500 company headquartered in Boston, Massachusetts.
As a REIT, BXP is required under U.S. tax law to distribute at least 90% of its taxable income to shareholders in the form of dividends, a structure that typically distinguishes REIT earnings and cash flow from those of conventional C-corporations. The company is recognized for its in-house building management capabilities and its focus on premium Central Business District (CBD) office assets, mixed-use developments, and build-to-suit projects for creditworthy tenants, and has earned a fourteenth consecutive GRESB Green Star recognition along with a GRESB 5-star Rating.
- CBD office occupancy weakens as hybrid work reduces leasing demand
- Premium gateway market positioning supports above-market rental rates
- Elevated interest rates pressure cap rates and refinancing costs
| Net Income: 317.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -1.16 > 1.0 |
| NWC/Revenue: -16.70% < 20% (prev 10.11%; Δ -26.81% < -1%) |
| CFO/TA 0.05 > 3% & CFO 1.19b > Net Income 317.3m |
| Net Debt (16.2b) to EBITDA (1.88b): 8.61 < 3 |
| Current Ratio: 0.59 > 1.5 & < 3 |
| Outstanding Shares: last quarter (158.7m) vs 12m ago 0.05% < -2% |
| Gross Margin: 60.20% > 18% (prev 54.30%; Δ 5.90% > 0.5%) |
| Asset Turnover: 13.81% > 50% (prev 13.50%; Δ 0.31% > 0%) |
| Interest Coverage Ratio: 1.52 > 6 (EBIT TTM 953.8m / Interest Expense TTM 629.4m) |
| A: -0.02 (Total Current Assets 833.8m - Total Current Liabilities 1.42b) / Total Assets 25.1b |
| B: -0.07 (Retained Earnings -1.68b / Total Assets 25.1b) |
| C: 0.04 (EBIT TTM 953.8m / Avg Total Assets 25.3b) |
| D: 0.30 (Book Value of Equity 5.15b / Total Liabilities 17.4b) |
| Altman-Z'' = 0.19 = B |
| DSRI: 0.10 (Receivables 90.1m/1.62b, Revenue 3.49b/3.43b) |
| GMI: 0.90 (GM 54.30% / 60.20%) |
| AQI: 1.26 (AQ_t 0.13 / AQ_t-1 0.11) |
| SGI: 1.02 (Revenue 3.49b / 3.43b) |
| TATA: -0.03 (NI 317.3m - CFO 1.19b) / TA 25.1b) |
| Beneish M = -3.69 (Cap -4..+1) = AAA |
As of July 04, 2026, the stock is trading at USD 69.32 with a total of 1,243,900 shares traded. Over the past week, the price has changed by +6.67%, over one month by +15.03%, over three months by +34.97% and over the past year by +5.20%.
Current recommended Stop Loss: 66.50 (which is 4.1% or 1.7 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 | 69.6 | 0.3% |
P/E Trailing = 33.8693
P/E Forward = 32.5733
P/S = 3.8049
P/B = 2.0838
P/EG = 2.5862
Revenue TTM = 3.49b USD
EBIT TTM = 953.8m USD
EBITDA TTM = 1.88b USD
Long Term Debt = 14.9b USD (from longTermDebt, last quarter)
Short Term Debt = 750.0m USD (from shortTermDebt, last quarter)
Debt = 16.7b USD (from shortLongTermDebtTotal, last quarter) + Leases 744.5m
Net Debt = 16.2b USD (calculated: Debt 16.7b - CCE 554.9m)
Enterprise Value = 28.2b USD (12.0b + Debt 16.7b - CCE 554.9m)
Interest Coverage Ratio = 1.52 (Ebit TTM 953.8m / Interest Expense TTM 629.4m)
EV/FCF = 60.53x (Enterprise Value 28.2b / FCF TTM 465.5m)
FCF Yield = 1.65% (FCF TTM 465.5m / Enterprise Value 28.2b)
FCF Margin = 13.34% (FCF TTM 465.5m / Revenue TTM 3.49b)
Net Margin = 9.09% (Net Income TTM 317.3m / Revenue TTM 3.49b)
Gross Margin = 60.20% ((Revenue TTM 3.49b - Cost of Revenue TTM 1.39b) / Revenue TTM)
Gross Margin QoQ = 59.07% (prev 60.23%)
Tobins Q-Ratio = 1.12 (Enterprise Value 28.2b / Total Assets 25.1b)
Interest Expense / Debt = 3.77% (Interest Expense 629.4m / Debt 16.7b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 753.5m (EBIT 953.8m * (1 - 21.00%))
Current Ratio = 0.59 (Total Current Assets 833.8m / Total Current Liabilities 1.42b)
Debt / Equity = 3.24 (Debt 16.7b / totalStockholderEquity, last quarter 5.15b)
Debt / EBITDA = 8.61 (Net Debt 16.2b / EBITDA 1.88b)
Debt / FCF = 34.71 (Net Debt 16.2b / FCF TTM 465.5m)
Total Stockholder Equity = 5.14b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.26% (Net Income 317.3m / Total Assets 25.1b)
RoE = 6.17% (Net Income TTM 317.3m / Total Stockholder Equity 5.14b)
RoCE = 4.77% (EBIT 953.8m / Capital Employed (Equity 5.14b + L.T.Debt 14.9b))
RoIC = 3.11% (NOPAT 753.5m / Invested Capital 24.3b)
WACC = 5.09% (E(12.0b)/V(28.7b) * Re(8.02%) + D(16.7b)/V(28.7b) * Rd(3.77%) * (1-Tc(0.21)))
Discount Rate = 8.02% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 76.41 | Cagr: 0.40%
[DCF] Terminal Value 73.10% ; FCFF base≈585.7m ; Y1≈513.7m ; Y5≈415.0m
[DCF] Fair Price = N/A (negative equity: EV 6.66b - Net Debt 16.2b = -9.50b; debt exceeds intrinsic value)
EPS Correlation: 29.43 | EPS CAGR: 14.24% | SUE: 0.86 | # QB: 1
Revenue Correlation: 98.18 | Revenue CAGR: 3.28% | SUE: 2.09 | # QB: 16
EPS current Quarter (2026-09-30): EPS=0.50 | Chg30d=-2.65% | Revisions=N/A | Analysts=3
EPS current Year (2026-12-31): EPS=1.97 | Chg30d=-0.50% | Revisions=-20% | GrowthEPS=+23.4% | GrowthRev=-0.2%
EPS next Year (2027-12-31): EPS=2.06 | Chg30d=-3.09% | Revisions=N/A | GrowthEPS=+4.6% | GrowthRev=+2.7%
[Analyst] Revisions Ratio: -20%