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PGRE vs BXP
Revenue, margins, valuation, and 5-year total return — side by side.
REIT - Office
PGRE vs BXP — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | REIT - Office | REIT - Office |
| Market Cap | $1.46B | $9.50B |
| Revenue (TTM) | $723M | $3.48B |
| Net Income (TTM) | $-97M | $277M |
| Gross Margin | 57.2% | 60.6% |
| Operating Margin | 14.7% | 42.3% |
| Forward P/E | — | 35.9x |
| Total Debt | $3.68B | $17.36B |
| Cash & Equiv. | $375M | $1.48B |
PGRE vs BXP — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | Dec 25 | Return |
|---|---|---|---|
| Paramount Group, In… (PGRE) | 100 | 85.6 | -14.4% |
| BXP, Inc. (BXP) | 100 | 84.2 | -15.8% |
Price return only. Dividends and distributions are not included.
Quick Verdict: PGRE vs BXP
Each card shows where this stock fits in a portfolio — not just who wins on paper.
PGRE is the clearest fit if your priority is income & stability and sleep-well-at-night.
- Dividend streak 0 yrs, beta 0.31, yield 1.6%
- Lower volatility, beta 0.31, Low D/E 91.7%, current ratio 7.76x
- Beta 0.31, yield 1.6%, current ratio 7.76x
BXP carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 2.2%, EPS growth 18.3%, 3Y rev CAGR 3.9%
- -26.7% 10Y total return vs PGRE's -45.5%
- 2.2% FFO/revenue growth vs PGRE's 2.0%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 2.2% FFO/revenue growth vs PGRE's 2.0% | |
| Value | Better valuation composite | |
| Quality / Margins | 8.0% margin vs PGRE's -13.5% | |
| Stability / Safety | Beta 0.31 vs BXP's 0.96, lower leverage | |
| Dividends | 6.8% yield, vs PGRE's 1.6% | |
| Momentum (1Y) | +42.9% vs BXP's -1.7% | |
| Efficiency (ROA) | 1.1% ROA vs PGRE's -1.2%, ROIC 6.1% vs 1.5% |
PGRE vs BXP — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
PGRE vs BXP — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
BXP leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
BXP is the larger business by revenue, generating $3.5B annually — 4.8x PGRE's $723M. BXP is the more profitable business, keeping 8.0% of every revenue dollar as net income compared to PGRE's -13.5%. On growth, BXP holds the edge at +2.2% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $723M | $3.5B |
| EBITDAEarnings before interest/tax | $342M | $2.4B |
| Net IncomeAfter-tax profit | -$97M | $277M |
| Free Cash FlowCash after capex | $165M | $690M |
| Gross MarginGross profit ÷ Revenue | +57.2% | +60.6% |
| Operating MarginEBIT ÷ Revenue | +14.7% | +42.3% |
| Net MarginNet income ÷ Revenue | -13.5% | +8.0% |
| FCF MarginFCF ÷ Revenue | +22.9% | +19.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | -11.3% | +2.2% |
| EPS Growth (YoY)Latest quarter vs prior year | -191.5% | +2.1% |
Valuation Metrics
PGRE leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, BXP's 8.9x EV/EBITDA is more attractive than PGRE's 12.3x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $1.5B | $9.5B |
| Enterprise ValueMkt cap + debt − cash | $4.8B | $25.4B |
| Trailing P/EPrice ÷ TTM EPS | -31.43x | 34.39x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 35.88x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 12.29x | 8.91x |
| Price / SalesMarket cap ÷ Revenue | 1.93x | 2.73x |
| Price / BookPrice ÷ Book value/share | 0.36x | 1.24x |
| Price / FCFMarket cap ÷ FCF | 5.53x | 13.77x |
Profitability & Efficiency
BXP leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
BXP delivers a 3.6% return on equity — every $100 of shareholder capital generates $4 in annual profit, vs $-2 for PGRE. PGRE carries lower financial leverage with a 0.92x debt-to-equity ratio, signaling a more conservative balance sheet compared to BXP's 2.26x. On the Piotroski fundamental quality scale (0–9), PGRE scores 7/9 vs BXP's 6/9, reflecting strong financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | -2.4% | +3.6% |
| ROA (TTM)Return on assets | -1.2% | +1.1% |
| ROICReturn on invested capital | +1.5% | +6.1% |
| ROCEReturn on capital employed | +1.9% | +7.8% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 6 |
| Debt / EquityFinancial leverage | 0.92x | 2.26x |
| Net DebtTotal debt minus cash | $3.3B | $15.9B |
| Cash & Equiv.Liquid assets | $375M | $1.5B |
| Total DebtShort + long-term debt | $3.7B | $17.4B |
| Interest CoverageEBIT ÷ Interest expense | 0.95x | 1.59x |
Total Returns (Dividends Reinvested)
PGRE leads this category, winning 3 of 5 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in BXP five years ago would be worth $7,311 today (with dividends reinvested), compared to $6,936 for PGRE. Over the past 12 months, PGRE leads with a +42.9% total return vs BXP's -1.7%. The 3-year compound annual growth rate (CAGR) favors PGRE at 14.9% vs BXP's 11.6% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | — | -10.7% |
| 1-Year ReturnPast 12 months | +42.9% | -1.7% |
| 3-Year ReturnCumulative with dividends | +51.6% | +39.0% |
| 5-Year ReturnCumulative with dividends | -30.6% | -26.9% |
| 10-Year ReturnCumulative with dividends | -45.5% | -26.7% |
| CAGR (3Y)Annualised 3-year return | +14.9% | +11.6% |
Risk & Volatility
PGRE leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
PGRE is the less volatile stock with a 0.31 beta — it tends to amplify market swings less than BXP's 0.96 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. PGRE currently trades 84.1% from its 52-week high vs BXP's 75.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.31x | 0.96x |
| 52-Week HighHighest price in past year | $7.85 | $79.33 |
| 52-Week LowLowest price in past year | $4.47 | $49.72 |
| % of 52W HighCurrent price vs 52-week peak | +84.1% | +75.4% |
| RSI (14)Momentum oscillator 0–100 | 56.8 | 59.0 |
| Avg Volume (50D)Average daily shares traded | 1.5M | 2.4M |
Analyst Outlook
BXP leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates PGRE as "Hold" and BXP as "Buy". Consensus price targets imply 81.8% upside for PGRE (target: $12) vs 20.5% for BXP (target: $72). For income investors, BXP offers the higher dividend yield at 6.76% vs PGRE's 1.59%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $12.00 | $72.10 |
| # AnalystsCovering analysts | 13 | 42 |
| Dividend YieldAnnual dividend ÷ price | +1.6% | +6.8% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $0.11 | $4.05 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | 0.0% |
BXP leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). PGRE leads in 3 (Valuation Metrics, Total Returns).
PGRE vs BXP: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is PGRE or BXP a better buy right now?
For growth investors, BXP, Inc.
(BXP) is the stronger pick with 2. 2% revenue growth year-over-year, versus 2. 0% for Paramount Group, Inc. (PGRE). BXP, Inc. (BXP) offers the better valuation at 34. 4x trailing P/E (35. 9x forward), making it the more compelling value choice. Analysts rate BXP, Inc. (BXP) a "Buy" — based on 42 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — PGRE or BXP?
Over the past 5 years, BXP, Inc.
(BXP) delivered a total return of -26. 9%, compared to -30. 6% for Paramount Group, Inc. (PGRE). Over 10 years, the gap is even starker: BXP returned -26. 7% versus PGRE's -45. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — PGRE or BXP?
By beta (market sensitivity over 5 years), Paramount Group, Inc.
(PGRE) is the lower-risk stock at 0. 31β versus BXP, Inc. 's 0. 96β — meaning BXP is approximately 209% more volatile than PGRE relative to the S&P 500. On balance sheet safety, Paramount Group, Inc. (PGRE) carries a lower debt/equity ratio of 92% versus 2% for BXP, Inc. — giving it more financial flexibility in a downturn.
04Which is growing faster — PGRE or BXP?
By revenue growth (latest reported year), BXP, Inc.
(BXP) is pulling ahead at 2. 2% versus 2. 0% for Paramount Group, Inc. (PGRE). On earnings-per-share growth, the picture is similar: BXP, Inc. grew EPS 1833% year-over-year, compared to 82. 5% for Paramount Group, Inc.. Over a 3-year CAGR, BXP leads at 3. 9% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — PGRE or BXP?
BXP, Inc.
(BXP) is the more profitable company, earning 7. 9% net margin versus -6. 1% for Paramount Group, Inc. — meaning it keeps 7. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BXP leads at 55. 7% versus 19. 6% for PGRE. At the gross margin level — before operating expenses — BXP leads at 60. 6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is PGRE or BXP more undervalued right now?
Analyst consensus price targets imply the most upside for PGRE: 81.
8% to $12. 00.
07Which pays a better dividend — PGRE or BXP?
All stocks in this comparison pay dividends.
BXP, Inc. (BXP) offers the highest yield at 6. 8%, versus 1. 6% for Paramount Group, Inc. (PGRE).
08Is PGRE or BXP better for a retirement portfolio?
For long-horizon retirement investors, Paramount Group, Inc.
(PGRE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 31), 1. 6% yield). Both have compounded well over 10 years (PGRE: -45. 5%, BXP: -26. 7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between PGRE and BXP?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: PGRE is a small-cap quality compounder stock; BXP is a small-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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