BXP
BXP, Inc.
BXP's fundamentals are mixed, but it looks cheap: trading at 19x earnings, below its usual 34x. Analysts expect earnings growth.
BXP Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
BXP's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for real estate companies like BXP.
BXP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 13x | $44.98 | -28% |
| Current | 19x | $62.89 | — |
| Forward | 30x | $62.89 | — |
| Fair | 34x | $113 | +80% |
| Expensive | 57x | $191 | +204% |
Historical ranges are pointers, not guarantees.
BXP's PE is in its cheap range at 19x. On analysts' estimates for next year's earnings, today's price would be 30x, in its fair range.
BXP Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect BXP's earnings to grow, with its revenue and profitability holding steady.
BXP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.09 | -38% |
| Q3 2026 | $3.34 | +$4.62 |
| Q2 2026 | $1.86 | +9200% |
| Q1 2026 | $1.99 | +$2.02 |
| Q4 2025 | $1.74 | +1833% |
| Q3 2025 | -$1.28 | -155% |
| Q2 2025 | $0.02 | -98% |
| Q1 2025 | -$0.03 | -102% |
| Q4 2024 | $0.09 | -93% |
BXP has returned to profit: it earned $3.34 per share over the past year, after losing money the year before.
BXP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $911.4M | +4.6% |
| Q2 2026 | $895.7M | +3.1% |
| Q1 2026 | $872.1M | +0.8% |
| Q4 2025 | $877.1M | +2.2% |
| Q3 2025 | $871.5M | +1.4% |
| Q2 2025 | $868.5M | +2.1% |
| Q1 2025 | $865.2M | +3.1% |
| Q4 2024 | $858.6M | +3.6% |
BXP's revenue has grown year over year for 22 quarters in a row: $911M last quarter, up 4.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 32% | +3.5 points |
| Q2 2026 | 29% | -0.6 points |
| Q1 2026 | 26% | -2.6 points |
| Q4 2025 | 29% | -1.5 points |
| Q3 2025 | 29% | -1.4 points |
| Q2 2025 | 30% | 0 points |
| Q1 2025 | 29% | -0.6 points |
| Q4 2024 | 31% | -1.1 points |
BXP's operating margin was 32% last quarter, up 3.5 points from the same quarter a year ago.
BXP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $306M | +32% |
| Q2 2026 | $421M | +50% |
| Q1 2026 | $125.7M | -18% |
| Q4 2025 | $362.7M | +16% |
| Q3 2025 | $231.6M | -1.2% |
| Q2 2025 | $281.5M | -15% |
| Q1 2025 | $152.6M | -7.8% |
| Q4 2024 | $312.5M | -6.2% |
BXP's free cash flow was $1.2B over the past year, up 24% from the year before. Free cash flow isn't a meaningful measure for real estate companies like BXP.
BXP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +480K shares |
| 1 year | +1.1% | +1.8M shares |
| 3 years | +2.1% | +3.2M shares |
| 5 years | +2.2% | +3.5M shares |
| Available history | +3.4% | +5.2M shares |
BXP has 160M diluted shares, up 1.1% from a year ago.
BXP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 7.2x | High |
| Q2 2026 | 7.3x | High |
| Q1 2026 | 7.4x | High |
| Q4 2025 | 7.4x | High |
| Q3 2025 | 7.7x | High |
| Q2 2025 | 8.0x | High |
| Q1 2025 | 8.0x | High |
| Q4 2024 | 7.9x | High |
BXP's net debt is about 7.2 years of its operating earnings (EBITDA), down from 7.7 years a year ago. Net leverage isn't a meaningful measure for real estate companies like BXP.
BXP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.8 | Neutral |
| Stochastic | 39.9 | Neutral |
BXP's weekly RSI is 48 (neutral) and its Stochastic is 40 (neutral).
BXP PE vs Real Estate Sector
| Metric | BXP | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 24x | 21% below |
| PE % | 31 | 23 | 8 pts above |
BXP is trading at 19x earnings, a 21% discount to the Real Estate sector's median of 24x.
BXP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $61.9 | 1.7% above |
| 20 week MA | $65.5 | 4% below |
| 50 week MA | $63.1 | 0.3% below |
| 100 week MA | $66.6 | 5.5% below |
| 200 week MA | $65.7 | 4.3% below |
BXP has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 4.3% below its 200-week average.
BXP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $137.7 | $93.9 | -32% |
| 2021 | $93.9 | $114.3 | +22% |
| 2022 | $114.3 | $68.4 | -40% |
| 2023 | $68.4 | $70.2 | +2.6% |
| 2024 | $70.2 | $74.6 | +6.3% |
| 2025 | $74.6 | $69.3 | -7.1% |
| 2026 YTD | $69.3 | $62.9 | -9.3% |
BXP has finished lower in three of the last six years. It's down 9.3% so far in 2026.