Stocks · Real Estate · REIT - Office
BXP, Inc. BXP
$60.45 +0.35% Close, Oct 2, 2026 · NYSE · Market cap $9.64B
Next earnings report: Oct 27, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $1.86, up 6100.0% year over year.
- Net debt is 8.5× EBITDA, a high level of leverage.
- Over the past year the stock returned -20.8%, behind the S&P 500 by 35.9 percentage points.
PromtFinance scores
Each score is a percentile within the Real Estate sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
Growth46Neutral
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 34%
- EPS growth (TTM, YoY)Top 1%
- FCF growth (TTM, YoY)Bottom 22%
- Revenue growth, 3-year CAGRBottom 42%
- Revenue growth accelerationBottom 46%
Quality72Positive
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 42%
- Gross marginBottom 47%
- Operating marginTop 35%
- Cash conversion (OCF / net income)Top 13%
- Accruals (lower is better)Top 38%
- Net debt / EBITDA (lower is better)Bottom 31%
- Interest coverTop 34%
Value58Neutral
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 49%
- Free-cash-flow yieldBottom 37%
- EBITDA / enterprise valueTop 34%
- Sales / enterprise valueTop 34%
- P/E vs own 5-year history (lower is better)Top 47%
Momentum46Neutral
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 27%
- 6-month returnTop 15%
- 1-year return vs S&P 500Bottom 28%
- Distance from 52-week highBottom 47%
- Trend checklist (0–4)Top 41%
Revisions68Positive
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 40%
- Consecutive EPS beatsTop 19%
- Share of analysts rating BuyTop 33%
- Upside to consensus price targetBottom 40%
Stability23Very weak
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 38%
- Maximum drawdown, 3 yearsBottom 42%
- Beta vs S&P 500 (lower is better)Bottom 11%
- Net debt / EBITDA (lower is better)Bottom 31%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 1.6% | 1.9% | ↑ |
| Gross margin | 54.2% | 46.8% | ↓ |
| Operating margin | 36.3% | 35.0% | ↓ |
| FCF margin | 20.3% | 10.3% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 1.9% | 1.6% | ↑ | Bottom 34% |
| EPS growth (TTM, YoY) | 6100.0% | — | Top 1% | |
| Gross margin | 46.8% | 54.2% | ↓ | Bottom 47% |
| Operating margin | 35.0% | 36.3% | ↓ | Top 35% |
| Net margin | 8.4% | 0.1% | ↑ | — |
| Free-cash-flow margin | 10.3% | 20.3% | ↓ | — |
| Return on invested capital | 4.9% | — | Top 42% | |
| Revenue growth, 3-year CAGR | 3.9% | — | Bottom 42% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 3.00×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -3.9%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 1.3%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +38.9 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 8.47×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 2.0×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 5.66%
- Net buyback yield (TTM)
- 0.01%
- Shareholder yield
- 5.67%
- Share count change, 1 year
- +0.6%
- Share count change, 3-year CAGR
- +0.5%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 6, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 3
- Beats in the last 8 reports
- 4 of 8
- Average EPS surprise, last 4
- -4.2%
- Average 2-day reaction, last 8
- -0.1%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $72.18
- Target vs current price
- +19.4%
- Analysts with a rating
- 43
- Share rating Buy or Strong Buy
- 58%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 28, 2026 | +6.7% | +1.1% | +1.7% | +1.1% | — |
| Apr 28, 2026 | +48.8% | +1.9% | +0.9% | +4.4% | +16.9% |
| Jan 27, 2026 | +178.9% | +0.7% | -2.6% | -8.1% | -10.0% |
| Oct 28, 2025 | -251.0% | -0.6% | -5.3% | -5.2% | -12.1% |
| Jul 29, 2025 | +36.6% | +1.2% | -5.5% | +0.1% | +3.4% |
| Apr 29, 2025 | -5.8% | -1.7% | -2.3% | +1.3% | +6.8% |
| Jan 28, 2025 | -396.8% | -1.9% | -3.9% | -6.3% | -12.5% |
| Oct 29, 2024 | -0.4% | -1.4% | -8.1% | -6.0% | -14.6% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 28, 2026 | $0.43 | $0.40 | +6.7% | $895.7M |
| Apr 28, 2026 | $0.64 | $0.43 | +48.8% | $872.1M |
| Jan 27, 2026 | $1.57 | $0.56 | +178.9% | $877.1M |
| Oct 28, 2025 | -$0.77 | $0.51 | -251.0% | $871.5M |
| Jul 29, 2025 | $0.56 | $0.41 | +36.6% | $868.5M |
| Apr 29, 2025 | $0.39 | $0.41 | -5.8% | $865.2M |
| Jan 28, 2025 | -$1.45 | $0.49 | -396.8% | $858.6M |
| Oct 29, 2024 | $0.53 | $0.53 | -0.4% | $859.2M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 32.5× | 38.3× | 32th | Top 49% |
| P/E (forward) | 28.5× | — | — | — |
| EV / EBITDA | 13.6× | — | — | Top 34% |
| EV / Sales | 7.24× | — | — | Top 34% |
| Free-cash-flow yield | 3.74% | — | — | Bottom 37% |
| Earnings yield | 3.08% | — | — | Top 49% |
P/E over the past five years
Range 12.3× – 81.6× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -20.8%
- Earnings per share growth (TTM)
- +6100.0%
- Change in P/E multiple
- -39.7%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -2.6%
- 200-day average slope (20 days)
- -1.1%
- Distance from 50-day average
- -9.5%
- Distance from 200-day average
- -3.8%
- RSI (14)
- 32.2
- Relative volume
- 0.68×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 26.0%
- Volatility vs own 5-year history
- 17th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.00
- Correlation with S&P 500
- 0.51
- Current drawdown from 1-year high
- -20.1%
- Maximum drawdown, 3 years
- -43.1%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Mar 29, 2022 | May 16, 2023 | -64.5% | 284 days | Not yet recovered |
| Oct 2, 2020 | Oct 28, 2020 | -16.6% | 18 days | 8 days (Nov 9, 2020) |
| Jun 14, 2021 | Dec 1, 2021 | -15.1% | 119 days | 25 days (Jan 6, 2022) |
| Dec 4, 2020 | Jan 11, 2021 | -14.9% | 24 days | 38 days (Mar 8, 2021) |
| Jan 13, 2022 | Jan 27, 2022 | -12.1% | 9 days | 39 days (Mar 24, 2022) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $9.64B
- P/E (TTM)
- 32.5
- EPS, diluted (TTM)
- $1.86
- Revenue (TTM)
- $3.52B
- Dividend yield
- 4.63%
- 52-week range
- $49.72 – $76.37
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $2.89B | $3.11B | $3.27B | $3.41B | $3.48B |
| Gross profit | $1.85B | $1.97B | $2.06B | $2.09B | $2.11B |
| Operating income | $973.1M | $1.06B | $1.04B | $1.02B | $1.94B |
| Net income | $505.2M | $848.9M | $190.2M | $14.3M | $276.8M |
| EPS (diluted) | $3.17 | $5.40 | $1.21 | $0.09 | $1.74 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $859.2M | $858.6M | $865.2M | $868.5M | $871.5M | $877.1M | $872.1M | $895.7M |
| Net income | $83.6M | -$228.9M | $61.2M | $89.0M | -$121.7M | $248.5M | $101.6M | $68.6M |
| EPS (diluted) | $0.53 | -$1.45 | $0.39 | $0.56 | -$0.77 | $1.56 | $0.64 | $0.43 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $1.13B | $1.28B | $1.30B | $1.23B | $1.25B |
| Capital expenditure | -$13.6M | -$398.1M | -$482.3M | -$448.0M | -$555.5M |
| Free cash flow | $1.12B | $884.3M | $819.2M | $786.5M | $689.7M |
| Dividends paid | -$683.8M | -$685.0M | -$687.8M | -$689.9M | -$643.1M |
| Net share buybacks | -$175.8M | $0 | $367,000 | -$1.7M | $0 |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $553.5M
- Total assets
- $25.17B
- Total liabilities
- $17.44B
- Total debt
- $16.36B
- Net debt
- $15.81B
- Shareholders’ equity
- $5.16B
As of Jun 30, 2026 (filed Aug 6, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 30, 2026 | $0.70 | Oct 30, 2026 |
| Jun 30, 2026 | $0.70 | Jul 31, 2026 |
| Mar 31, 2026 | $0.70 | Apr 30, 2026 |
| Dec 31, 2025 | $0.70 | Jan 29, 2026 |
| Sep 30, 2025 | $0.70 | Oct 31, 2025 |
| Jun 30, 2025 | $0.98 | Jul 31, 2025 |
| Mar 31, 2025 | $0.98 | Apr 30, 2025 |
| Dec 31, 2024 | $0.98 | Jan 30, 2025 |
Short interest
- Shares sold short
- 12,380,192
- Days to cover
- 10.95
- Change vs previous report
- +10.3%
FINRA short interest, settlement date Sep 15, 2026.