BXP, Inc. (BXP) Financial Ratios
29 years of historical data (1997–2025) · Real Estate · REIT - Office
EV/EBITDA
↓
9.18
↓-34% vs avg
5yr avg: 13.93
30Y Low9.3·High31.6
P/FCF
↓
14.89
+3% vs avg
5yr avg: 14.40
30Y Low12.0·High108.6
P/B Ratio
↓
1.34
↓-13% vs avg
5yr avg: 1.55
30Y Low0.9·High4.7
ROE
↓
3.5%
↑-21% vs avg
5yr avg: 4.5%
30Y Low0%·High32%
Debt/EBITDA
↓
6.10
↓-24% vs avg
5yr avg: 8.01
30Y Low3.8·High16.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BXP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
BXP, Inc. trades at 37.2x earnings, 81% below its 5-year average of 194.4x, sitting at the 63rd percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a premium of 54%. On a free-cash-flow basis, the stock trades at 14.9x P/FCF, roughly in line with the 5-year average of 14.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $10.3B | $10.7B | $11.7B | $11.0B | $10.6B | $18.0B | $14.7B | $21.4B | $17.4B | $20.1B | $19.4B |
| Enterprise Value | $26.1B | $26.6B | $27.8B | $26.1B | $24.6B | $30.9B | $26.5B | $32.9B | $27.9B | $29.9B | $28.8B |
| P/E Ratio → | 37.18 | 38.78 | 826.22 | 57.99 | 12.51 | 36.33 | 17.06 | 344.65 | 29.85 | 44.38 | 38.58 |
| P/S Ratio | 2.95 | 3.08 | 3.44 | 3.37 | 3.42 | 6.24 | 5.32 | 7.21 | 6.41 | 7.72 | 7.59 |
| P/B Ratio | 1.34 | 1.40 | 1.48 | 1.35 | 1.27 | 2.24 | 1.76 | 2.66 | 2.12 | 2.48 | 2.44 |
| P/FCF | 14.89 | 15.54 | 14.92 | 13.47 | 12.01 | 16.09 | 12.74 | 28.52 | 23.20 | 41.86 | 86.29 |
| P/OCF | 8.24 | 8.61 | 9.50 | 8.48 | 8.28 | 15.89 | 12.71 | 18.08 | 15.14 | 22.12 | 18.68 |
P/E links to full P/E history page with 30-year chart
BXP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
BXP, Inc.'s enterprise value stands at 9.2x EBITDA, 34% below its 5-year average of 13.9x. The Real Estate sector median is 17.0x, placing the stock at a 46% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.64 | 8.16 | 7.98 | 7.92 | 10.70 | 9.59 | 11.13 | 10.26 | 11.50 | 11.29 |
| EV / EBITDA | 9.18 | 9.34 | 14.55 | 13.96 | 13.58 | 18.24 | 16.65 | 19.07 | 10.30 | 11.50 | 11.31 |
| EV / EBIT | 13.48 | 25.78 | 38.12 | 29.99 | 16.89 | 29.29 | 18.28 | 30.94 | 25.56 | 31.92 | 29.31 |
| EV / FCF | — | 38.57 | 35.35 | 31.89 | 27.84 | 27.60 | 22.97 | 44.00 | 37.14 | 62.36 | 128.35 |
BXP Profitability
Margins and return-on-capital ratios measuring operating efficiency
BXP, Inc. earns an operating margin of 55.7%, significantly above the Real Estate sector average of 24.8%. Operating margins have expanded from 31.7% to 55.7% over the past 3 years, signaling improving operational efficiency. ROE of 3.5% is modest. ROIC of 6.1% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 60.6% | 60.6% | 61.2% | 62.8% | 63.5% | 64.2% | 62.7% | 63.4% | 62.4% | 63.0% | 63.9% |
| Operating Margin | 55.7% | 55.7% | 30.0% | 31.7% | 34.1% | 33.7% | 32.8% | 35.4% | 33.6% | 34.9% | 32.3% |
| Net Profit Margin | 7.9% | 7.9% | 0.4% | 5.8% | 27.3% | 17.5% | 31.6% | 17.6% | 21.5% | 17.8% | 20.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.5% | 3.5% | 0.2% | 2.3% | 10.3% | 6.2% | 10.7% | 6.4% | 7.1% | 5.8% | 6.5% |
| ROA | 1.1% | 1.1% | 0.1% | 0.8% | 3.6% | 2.2% | 4.0% | 2.5% | 2.9% | 2.4% | 2.7% |
| ROIC | 6.1% | 6.1% | 3.2% | 3.4% | 3.7% | 3.6% | 3.4% | 4.1% | 3.7% | 3.9% | 3.7% |
| ROCE | 7.8% | 7.8% | 4.1% | 4.3% | 4.7% | 4.4% | 4.2% | 5.2% | 4.7% | 4.9% | 4.6% |
BXP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
BXP, Inc. carries a Debt/EBITDA ratio of 6.1x, which is highly leveraged (23% below the sector average of 7.9x). Net debt stands at $15.9B ($17.4B total debt minus $1.5B cash). Interest coverage of just 1.6x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.26 | 2.26 | 2.18 | 2.03 | 1.76 | 1.66 | 1.62 | 1.53 | 1.34 | 1.27 | 1.24 |
| Debt / EBITDA | 6.10 | 6.10 | 9.06 | 8.88 | 8.10 | 7.88 | 8.47 | 7.08 | 4.07 | 3.95 | 3.85 |
| Net Debt / Equity | — | 2.07 | 2.02 | 1.84 | 1.67 | 1.60 | 1.42 | 1.45 | 1.27 | 1.21 | 1.19 |
| Net Debt / EBITDA | 5.58 | 5.58 | 8.41 | 8.07 | 7.72 | 7.61 | 7.42 | 6.71 | 3.87 | 3.78 | 3.71 |
| Debt / FCF | — | 23.03 | 20.43 | 18.42 | 15.84 | 11.52 | 10.24 | 15.48 | 13.94 | 20.51 | 42.06 |
| Interest Coverage | 1.59 | 1.59 | 1.13 | 1.52 | 3.33 | 2.49 | 3.36 | 2.58 | 2.88 | 2.50 | 2.38 |
BXP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
BXP, Inc.'s current ratio of 2.28x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 4.19x to 2.28x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.28 | 2.28 | 2.56 | 4.19 | 3.16 | 2.58 | 4.73 | 3.10 | 3.31 | 2.44 | 1.95 |
| Quick Ratio | 2.28 | 2.28 | 2.56 | 4.19 | 3.16 | 2.58 | 4.73 | 3.10 | 3.47 | 2.57 | 2.14 |
| Cash Ratio | 1.00 | 1.00 | 1.04 | 2.01 | 1.00 | 0.62 | 2.59 | 1.01 | 1.02 | 0.73 | 0.53 |
| Asset Turnover | — | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.12 | 0.14 | 0.13 | 0.13 | 0.14 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
BXP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
BXP, Inc. returns 6.3% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 232.3%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 2.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.3% | 6.0% | 5.9% | 6.2% | 6.5% | 3.8% | 4.7% | 3.1% | 3.4% | 2.6% | 3.5% |
| Payout Ratio | 232.3% | 232.3% | 4833.7% | 361.6% | 80.7% | 135.3% | 78.9% | 127.8% | 100.8% | 113.9% | 131.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.7% | 2.6% | 0.1% | 1.7% | 8.0% | 2.8% | 5.9% | 0.3% | 3.3% | 2.3% | 2.6% |
| FCF Yield | 6.7% | 6.4% | 6.7% | 7.4% | 8.3% | 6.2% | 7.9% | 3.5% | 4.3% | 2.4% | 1.2% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.3% | 6.0% | 5.9% | 6.2% | 6.5% | 4.9% | 4.7% | 3.1% | 3.4% | 2.6% | 3.5% |
| Shares Outstanding | — | $159M | $158M | $157M | $157M | $156M | $156M | $155M | $155M | $154M | $154M |
Peer Comparison
Compare BXP with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BXPYou | $10B | 37.2 | 9.2 | 14.9 | 60.6% | 55.7% | 3.5% | 6.1% | 6.1 |
 SLG | $4B | -42.8 | 27.6 | 44.1 | 34.1% | 15.4% | -2.0% | 1.1% | 19.5 |
 VNO | $7B | 9.0 | 18.8 | 5.7 | 100.0% | 15.0% | 13.9% | 1.4% | 10.5 |
 HIW | $3B | 20.2 | 13.6 | 19.4 | 67.6% | 26.0% | 6.6% | 2.7% | 7.2 |
 PDM | $1B | -13.3 | 11.1 | — | -20.7% | 14.1% | -5.4% | 1.5% | 7.4 |
 DEA | $1B | 79.9 | 13.8 | 4.1 | -0.9% | 24.9% | 0.9% | 2.1% | 8.5 |
 KRC | $4B | 15.9 | 13.7 | — | 67.0% | 28.4% | 4.9% | 2.3% | 7.3 |
 ARE | $9B | -6.0 | 142.0 | 6.2 | 68.9% | -40.5% | -6.9% | -2.7% | 86.1 |
 CUZ | $5B | 117.8 | 13.0 | 34.5 | 26.5% | 22.4% | 0.8% | 2.0% | 5.8 |
 HPP | $793M | -1.1 | 13.5 | 8.0 | -42.1% | -5.7% | -17.3% | -0.5% | 11.5 |
 PGRE | $1B | -31.4 | 12.3 | 5.5 | 60.0% | 19.6% | -1.2% | 1.5% | 9.5 |
| Real Estate Median | — | 24.1 | 17.0 | 15.4 | 49.3% | 24.8% | 3.7% | 2.7% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 29 years · Updated daily
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BXP — Frequently Asked Questions
Quick answers to the most common questions about buying BXP stock.
What is BXP, Inc.'s P/E ratio?
BXP, Inc.'s current P/E ratio is 37.2x. The historical average is 32.0x. This places it at the 63th percentile of its historical range.
What is BXP, Inc.'s EV/EBITDA?
BXP, Inc.'s current EV/EBITDA is 9.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.6x.
What is BXP, Inc.'s ROE?
BXP, Inc.'s return on equity (ROE) is 3.5%. The historical average is 8.7%.
Is BXP stock overvalued?
Based on historical data, BXP, Inc. is trading at a P/E of 37.2x. This is at the 63th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is BXP, Inc.'s dividend yield?
BXP, Inc.'s current dividend yield is 6.26% with a payout ratio of 232.3%.
What are BXP, Inc.'s profit margins?
BXP, Inc. has 60.6% gross margin and 55.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does BXP, Inc. have?
BXP, Inc.'s Debt/EBITDA ratio is 6.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.