BXP (BXP) AI Stock Analysis

• Market Cap: $12.44B
• Dividend Yield: 5.24%
• Average Volume (3M): 2.16M
• Price to Earnings (P/E): 3608.6
• Beta (1Y): 1.11
• Revenue Growth: 3.24%
• EPS Growth: -97.73%
• Country: US
• Employees: 816
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Office
• EPS (TTM): 0.56
• Shares Outstanding: 158,375,520
• 10 Day Avg. Volume: 1,877,026
• 30 Day Avg. Volume: 2,163,490
• 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: 2.36
• Enterprise Value/Revenue: 8.50
• Enterprise Value/Gross Profit: 17.85
• Enterprise Value/Ebitda: 18.37
• 1Y Price Target: $78.65
• Price Target Upside: 13.18% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 18

• Rating: 61 Neutral
• Price Target: $73.00 ▲(5.05% Upside)

BXP's overall stock score reflects strong earnings call performance and efficient cash flow management. However, high leverage, low profitability, and a high P/E ratio indicate financial and valuation risks. Technical indicators suggest caution, with potential bearish momentum.

Positive Factors

Leasing Activity

Increased leasing activity indicates strong demand for BXP's properties, enhancing revenue stability and supporting long-term growth.

Cash Flow Management

Improved cash flow management provides financial flexibility for reinvestment and debt reduction, supporting sustainable growth.

Development Projects

Progress on key development projects like 343 Madison Avenue enhances BXP's future revenue potential and market positioning.

Negative Factors

High Leverage

High leverage can limit financial flexibility and increase risk, especially in volatile market conditions, impacting long-term stability.

Occupancy Challenges

Declining occupancy rates can reduce revenue and profitability, posing challenges to maintaining stable cash flows and growth.

Dividend Reduction

Reducing dividends may signal financial strain, potentially affecting investor confidence and impacting stock attractiveness.

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 demonstrates strong revenue growth and efficient cash flow management, indicating operational strength. However, 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	1.96B	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: Neutral
• Last Price: 69.49
• 50DMA: Positive
• 100DMA: Positive
• 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 Neutral. The current price of 69.49 is below the 20-day moving average (MA) of 75.18, below the 50-day MA of 70.97, and above the 200-day MA of 67.90, indicating a neutral trend. The MACD of 0.34 indicates Positive momentum. The RSI at 41.03 is Neutral, neither overbought nor oversold. The STOCH value of 10.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BXP.

BXP Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KRC	69 Neutral	$4.84B	21.97	4.06%	5.46%	2.26%	10.15%
CUZ	67 Neutral	$4.65B	75.03	1.30%	4.71%	13.07%	-4.94%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
VNO	61 Neutral	$8.25B	9.77	14.93%	1.95%	1.38%	4370.96%
ARE	61 Neutral	$13.01B	102.63	-0.12%	7.14%	3.12%	-116.29%
BXP	61 Neutral	$12.44B	3,608.59	0.07%	5.24%	3.24%	-97.73%
SLG	52 Neutral	$4.31B	663.10	-0.37%	5.57%	15.25%	79.18%

BXP Corporate Events

Boston Properties Holds 2025 Annual Stockholders Meeting

On May 20, 2025, Boston Properties, Inc. held its 2025 Annual Meeting of Stockholders, where several key decisions were made. The stockholders elected a slate of directors to the Board, approved a non-binding advisory vote on executive compensation, and ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. These actions reflect the company’s ongoing governance practices and commitment to transparency in financial reporting.

Boston Properties Holds 2025 Annual Stockholders Meeting

On May 20, 2025, BXP, Inc., the sole general partner of Boston Properties Limited Partnership, conducted its 2025 Annual Meeting of Stockholders. During the meeting, the stockholders elected several directors to the Board, approved a non-binding advisory vote on executive compensation, and ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. These decisions reflect the company’s ongoing governance and financial strategies, potentially impacting its operational and financial transparency.