BXP (BXP) AI Stock Analysis

• Market Cap: $12.08B
• Dividend Yield: 5.19%
• Average Volume (3M): 1.96M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.05
• Revenue Growth: 2.54%
• EPS Growth: -155.17%
• Country: US
• Employees: 816
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Office
• EPS (TTM): -0.77
• Shares Outstanding: 158,375,520
• 10 Day Avg. Volume: 1,855,248
• 30 Day Avg. Volume: 1,959,412
• PEG Ratio: -8.87
• Price to Book (P/B): 2.16
• Price to Sales (P/S): 3.44
• P/FCF Ratio: 9.49
• Enterprise Value/Market Cap: 2.54
• Enterprise Value/Revenue: 8.89
• Enterprise Value/Gross Profit: 18.66
• Enterprise Value/Ebitda: 19.21
• 1Y Price Target: $79.88
• Price Target Upside: 10.39% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 18
• EPS Forecast (FY): 1.82
• Revenue Forecast (FY): $3.45B

• Rating: 61 Neutral
• Price Target: $74.00 ▲(2.27% Upside)

BXP's overall stock score is driven by strong earnings call insights and robust cash flow management. However, valuation concerns and high leverage weigh down the score. The technical analysis suggests caution, with mixed signals on market momentum.

Positive Factors

Strong Leasing Performance

The significant increase in leasing activity indicates strong demand for BXP's properties, enhancing revenue stability and market position in key urban areas.

Successful Asset Sales Strategy

The strategic asset sales strengthen BXP's balance sheet and provide capital for reinvestment, supporting long-term growth and financial flexibility.

Cash Flow Management

Improved cash flow generation enhances BXP's ability to fund operations, reduce debt, and invest in growth opportunities, ensuring financial resilience.

Negative Factors

High Leverage

Significant leverage poses financial risks, potentially limiting BXP's ability to navigate economic downturns and impacting long-term financial stability.

Declining Profit Margins

Low profitability margins indicate challenges in cost management and pricing power, which could affect BXP's ability to generate sustainable profits.

Impairments on Asset Sales

Impairments from asset sales impact financial performance, reflecting potential overvaluation of assets and affecting future earnings potential.

BXP Business Overview & Revenue Model

Company Description

Boston Properties (BXP) is a publicly traded real estate investment trust (REIT) based in Boston, Massachusetts. The company specializes in the ownership, operation, and development of high-quality office and mixed-use properties in key urban markets across the United States. With a focus on premier locations, BXP's portfolio includes a mix of office buildings, retail spaces, and residential units, primarily in cities like Boston, San Francisco, New York City, and Washington, D.C.

How the Company Makes Money

Boston Properties generates revenue primarily through leasing office and retail space to tenants, which constitutes the bulk of its income. The company enters long-term leases with its tenants, providing a stable and predictable cash flow. Additionally, BXP earns income from property management services, development fees from its projects, and asset sales, which can contribute to significant gains. The company also engages in strategic partnerships and joint ventures for development projects, enhancing its growth potential and financial returns. Factors such as favorable market conditions in urban real estate, tenant demand in its core markets, and the company's ability to maintain high occupancy rates are critical to its earnings.

BXP Financial Statement Overview

Summary

BXP shows strong revenue growth and efficient cash flow management, but low profitability margins and high leverage present potential risks. The balance sheet's high debt levels and declining return on equity suggest caution is needed in financial management.

Income Statement

BXP's income statement shows moderate performance with a stable revenue growth trend, particularly in the TTM period with a 52.4% increase. However, profitability metrics such as the net profit margin are quite low at 0.14% for TTM, indicating challenges in converting revenue into profit. The gross profit margin has decreased from 62.7% in 2023 to 54.2% in TTM, suggesting rising costs or pricing pressures. Despite these challenges, the EBIT and EBITDA margins remain relatively strong, reflecting efficient operational management.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 3.30 in TTM, indicating significant leverage, which could pose financial risks if not managed properly. The return on equity has declined sharply to 0.09% in TTM, reflecting reduced profitability on shareholders' investments. The equity ratio stands at 20.5%, suggesting a moderate level of financial stability. Overall, while the company maintains a solid asset base, the high leverage and declining ROE are areas of concern.

Cash Flow

BXP's cash flow statement shows a positive trajectory with a 7.5% growth in free cash flow in TTM, indicating improved cash generation capabilities. The operating cash flow to net income ratio of 501% in TTM suggests strong cash flow relative to net income, highlighting robust cash conversion. The free cash flow to net income ratio is 91.9%, reflecting efficient cash management. These metrics indicate a healthy cash flow position, providing a buffer against financial uncertainties.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.45B	3.41B	3.27B	3.11B	2.89B	2.77B
Gross Profit	1.64B	1.18B	2.05B	1.97B	1.84B	1.72B
EBITDA	1.60B	1.91B	1.70B	1.81B	1.78B	2.14B
Net Income	4.93M	14.27M	190.22M	848.95M	505.19M	872.73M
Balance Sheet
Total Assets	25.62B	26.08B	26.03B	24.21B	22.36B	22.86B
Cash, Cash Equivalents and Short-Term Investments	487.01M	1.25B	1.53B	690.33M	452.69M	1.67B
Total Debt	17.34B	16.98B	16.62B	14.69B	13.35B	13.49B
Total Liabilities	17.77B	18.14B	17.83B	15.84B	14.31B	14.51B
Stockholders Equity	5.26B	5.41B	5.88B	6.13B	5.83B	6.00B
Cash Flow
Free Cash Flow	1.23B	1.23B	1.30B	884.31M	1.12B	1.15B
Operating Cash Flow	1.23B	1.23B	1.30B	1.28B	1.13B	1.16B
Investing Cash Flow	-1.30B	-1.24B	-1.19B	-1.60B	-1.04B	-613.72M
Financing Cash Flow	-146.39M	-274.48M	767.92M	556.06M	-1.31B	484.32M

BXP Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 72.36
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BXP, the sentiment is Negative. The current price of 72.36 is above the 20-day moving average (MA) of 71.37, below the 50-day MA of 73.30, and above the 200-day MA of 68.05, indicating a neutral trend. The MACD of -0.74 indicates Positive momentum. The RSI at 42.52 is Neutral, neither overbought nor oversold. The STOCH value of 18.64 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BXP.

BXP Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KRC	72 Outperform	$5.08B	15.67	5.94%	5.06%	0.77%	62.58%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
CUZ	63 Neutral	$4.32B	74.19	1.26%	4.89%	16.38%	3.60%
BXP	61 Neutral	$12.08B	―	-3.74%	5.19%	2.54%	-155.17%
VNO	57 Neutral	$7.42B	8.47	15.97%	1.99%	2.41%	―
SLG	51 Neutral	$3.86B	―	0.61%	6.13%	8.60%	―
ARE	48 Neutral	$9.41B	―	-2.42%	9.93%	-0.76%	-250.60%

BXP Corporate Events

Boston Properties’ Earnings Call Highlights Strategic Success

Boston Properties’ Recent Earnings Call: A Positive Outlook Amidst Market Challenges

Boston Properties Reports Q3 2025 Financial Results

Boston Properties, Inc. (BXP) is a leading publicly traded real estate investment trust (REIT) specializing in the development, ownership, and management of premier workplaces across six major U.S. markets, including Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. The company is recognized for its sustainable practices and has a significant presence in the office, retail, residential, and hotel sectors.

BXP Launches $600 Million Private Notes Offering

On September 24, 2025, BXP announced the launch of a $600 million private offering of exchangeable senior notes due 2030, with an option for purchasers to buy an additional $90 million. The offering aims to fund the repayment of $1 billion in senior notes due in 2026 and involves capped call transactions to mitigate potential stock dilution. This strategic move is expected to impact BXP’s financial structure and market positioning, potentially influencing the market price of its common stock and notes.

The most recent analyst rating on (BXP) stock is a Hold with a $77.00 price target. To see the full list of analyst forecasts on BXP stock, see the BXP Stock Forecast page.

BXP Announces $600 Million Exchangeable Notes Offering

On September 24, 2025, BXP announced a private offering of $600 million in exchangeable senior notes due 2030, targeting qualified institutional buyers. The notes, which are senior unsecured obligations, will accrue interest semi-annually and are exchangeable under certain conditions. The proceeds will fund capped call transactions and partially repay or redeem $1 billion of senior notes due in 2026. This move aims to manage debt and mitigate potential stock dilution, impacting BXP’s financial strategy and market positioning.

The most recent analyst rating on (BXP) stock is a Hold with a $77.00 price target. To see the full list of analyst forecasts on BXP stock, see the BXP Stock Forecast page.