(BXP) Boston Properties - Overview
Sector: Real Estate | Industry: REIT - Office | Exchange: NYSE (USA) | Market Cap: 10.431m USD | Total Return: -2.2% in 12m
Office Buildings, Retail Spaces, Residential Units, Hotels
Total Rating 35
Safety 44
Buy Signal -0.45
REIT - Office
Industry Rotation: +0.0
Industry Rotation: +0.0
Market Cap:
10.4B
Avg Turnover: 92.7M
Avg Turnover: 92.7M
Risk 3d forecast
Volatility29.1%
VaR 5th Pctl5.26%
VaR vs Median9.69%
Reward TTM
Sharpe Ratio-0.11
Rel. Str. IBD23.3
Rel. Str. Peer Group26
Character TTM
Beta0.728
Beta Downside0.801
Hurst Exponent0.412
Drawdowns 3y
Max DD39.03%
CAGR/Max DD0.37
CAGR/Mean DD0.97
EPS (Earnings per Share)
EPS CAGR: 31.36%
EPS Trend: 55.3%
EPS Trend: 55.3%
Last SUE: 0.49
Qual. Beats: 0
Qual. Beats: 0
Revenue
Rev. CAGR: 3.28%
Rev. Trend: 98.2%
Rev. Trend: 98.2%
Last SUE: 2.09
Qual. Beats: 17
Qual. Beats: 17
Warnings
High Debt/EBITDA (8.6) with thin interest coverage (1.5)
Altman Z'' -0.22 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Description: BXP Boston Properties
BXP, Inc. is an S&P 500 real estate investment trust (REIT) and the largest publicly traded developer of premier workplaces in the United States. The company operates a fully integrated model, managing a portfolio of 164 properties across six major gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. Its holdings primarily consist of office spaces, supplemented by retail, residential, and hotel assets.
The business focuses on high-barrier-to-entry Central Business Districts (CBDs), catering to creditworthy tenants through build-to-suit projects and mixed-use complexes. As a REIT, BXP is structurally required to distribute at least 90% of its taxable income to shareholders as dividends, a common characteristic of the sector designed to provide regular income streams. The company maintains a strong emphasis on sustainability, holding a long-term GRESB 5-star rating and recognition from major global sustainability indices.
Investors can further evaluate these operational metrics and historical performance trends by visiting ValueRay. Given the capital-intensive nature of large-scale urban development, BXP relies on its in-house management expertise to drive occupancy and operational efficiency across its 50.4 million square foot portfolio.
- Return-to-office mandates drive occupancy rates in premier Central Business District properties
- Elevated interest rates increase debt servicing costs and pressure FFO margins
- Strategic joint venture partnerships mitigate capital expenditure risks for new developments
- Tech and financial sector layoffs reduce demand for San Francisco office space
- Conversion of underperforming office assets into residential units diversifies revenue streams
Piotroski VR‑10 (Strict)
4.0
| 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 (16.17b) 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 0.54%; Δ 5.97k% > 0.5%) |
| Asset Turnover: 13.81% > 50% (prev 13.50%; Δ 0.31% > 0%) |
| Interest Coverage Ratio: 1.52 > 6 (EBITDA TTM 1.88b / Interest Expense TTM 629.4m) |
Altman Z''
-0.22
| A: -0.02 (Total Current Assets 833.8m - Total Current Liabilities 1.42b) / Total Assets 25.10b |
| B: -0.07 (Retained Earnings -1.68b / Total Assets 25.10b) |
| C: 0.04 (EBIT TTM 953.8m / Avg Total Assets 25.27b) |
| D: -0.10 (Book Value of Equity -1.69b / Total Liabilities 17.38b) |
| Altman-Z'' = -0.22 = B |
Beneish M
-3.76
| DSRI: 0.05 (Receivables 90.1m/1.62b, Revenue 3.49b/3.43b) |
| GMI: 0.90 (GM 60.20% / 54.30%) |
| 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 25.10b) |
| Beneish M = -3.76 (Cap -4..+1) = AAA |
What is the price of BXP shares?
As of May 23, 2026, the stock is trading at USD 60.13 with a total of 1,167,465 shares traded.
Over the past week, the price has changed by +3.06%, over one month by +3.43%, over three months by +2.51% and over the past year by -2.18%.
Over the past week, the price has changed by +3.06%, over one month by +3.43%, over three months by +2.51% and over the past year by -2.18%.
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.
- StrongBuy: 6
- Buy: 3
- Hold: 11
- Sell: 1
- StrongSell: 1
What are the forecasts/targets for the BXP price?
| Analysts Target Price | 68.7 | 14.3% |
Boston Properties (BXP) - Fundamental Data Overview
as of 18 May 2026
P/E Trailing = 29.397 P/E Forward = 28.7356
P/S = 3.3025
P/B = 1.8282
P/EG = 2.2804
Revenue TTM = 3.49b USD
EBIT TTM = 953.8m USD
EBITDA TTM = 1.88b USD
Long Term Debt = 15.86b USD (from longTermDebt, last fiscal year)
Short Term Debt = 750.0m USD (from shortTermDebt, last quarter)
Debt = 16.72b USD (from shortLongTermDebtTotal, last quarter) + Leases 749.3m
Net Debt = 16.17b USD (calculated: Debt 16.72b - CCE 554.9m)
Enterprise Value = 26.60b USD (10.43b + Debt 16.72b - CCE 554.9m)
Interest Coverage Ratio = 1.52 (Ebit TTM 953.8m / Interest Expense TTM 629.4m)
EV/FCF = 57.13x (Enterprise Value 26.60b / FCF TTM 465.5m)
FCF Yield = 1.75% (FCF TTM 465.5m / Enterprise Value 26.60b)
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 = 1.06 (Enterprise Value 26.60b / Total Assets 25.10b)
Interest Expense / Debt = 0.91% (Interest Expense 152.1m / Debt 16.72b)
Taxrate = 21.0% (US 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 = 3.25 (Debt 16.72b / totalStockholderEquity, last quarter 5.15b)
Debt / EBITDA = 8.61 (Net Debt 16.17b / EBITDA 1.88b)
Debt / FCF = 34.73 (Net Debt 16.17b / FCF TTM 465.5m)
Total Stockholder Equity = 5.14b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.26% (Net Income 317.3m / Total Assets 25.10b)
RoE = 4.65% (Net Income TTM 317.3m / Total Stockholder Equity 6.83b)
RoCE = 4.20% (EBIT 953.8m / Capital Employed (Equity 6.83b + L.T.Debt 15.86b))
RoIC = 3.16% (NOPAT 753.5m / Invested Capital 23.88b)
WACC = 3.72% (E(10.43b)/V(27.15b) * Re(8.54%) + D(16.72b)/V(27.15b) * Rd(0.91%) * (1-Tc(0.21)))
Discount Rate = 8.54% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 76.41 | Cagr: 0.40%
[DCF] Terminal Value 84.79% ; FCFF base≈585.7m ; Y1≈508.3m ; Y5≈406.2m
[DCF] Fair Price = N/A (negative equity: EV 12.29b - Net Debt 16.17b = -3.87b; debt exceeds intrinsic value)
EPS Correlation: 55.35 | EPS CAGR: 31.36% | SUE: 0.49 | # QB: 0
Revenue Correlation: 98.18 | Revenue CAGR: 3.28% | SUE: 2.09 | # QB: 17
EPS current Quarter (2026-06-30): EPS=0.44 | Chg30d=+1.35% | Revisions=-20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.51 | Chg30d=-1.38% | Revisions=-20% | Analysts=2
EPS current Year (2026-12-31): EPS=1.98 | Chg30d=+2.76% | Revisions=-20% | GrowthEPS=+23.4% | GrowthRev=-0.1%
EPS next Year (2027-12-31): EPS=2.13 | Chg30d=+1.93% | Revisions=-20% | GrowthEPS=+7.4% | GrowthRev=+2.9%
[Analyst] Revisions Ratio: -20%