BXP, Inc.
BXP, Inc.
BXP, Inc. (BXP) — SEC Financial Statements & Analysis
BXP, Inc. (BXP) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Boston Properties Limited Partnership | 8,083 | 8,005 | 42 | 3,509 | 4,408 | 7,797 | -325 | 6 | 5,005 | 7,054 | -315 | -99 | |||||
Assets | |||||||||||||||||
Real Estate Investment Property Net | 20,899 | 20,900 | 21,295 | 21,263 | 21,119 | 21,050 | 20,901 | 20,792 | 20,768 | 20,593 | 19,868 | 19,598 | |||||
Marketable Securities | 42 | 45 | 44 | 41 | 38 | 40 | 39 | 37 | 37 | 36 | 33 | 33 | |||||
Notes Receivable Gross | - | - | - | - | 6 | 5 | 4 | 3 | 2 | 2 | - | - | |||||
Sales Type Lease Net Investment In Lease After All… | 16 | 16 | 15 | 15 | 15 | 15 | 14 | 14 | 14 | 14 | 13 | 13 | |||||
Investments In Affiliates Subsidiaries Associates … | 855 | 999 | 1,000 | 1,161 | 1,138 | 1,094 | 1,422 | 1,419 | 1,400 | 1,377 | 1,537 | 1,781 | |||||
Assets | 25,102 | 26,166 | 25,999 | 25,621 | 25,437 | 26,085 | 26,406 | 25,474 | 25,526 | 26,026 | 24,739 | 25,342 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Liabilities | |||||||||||||||||
Senior Notes | 8,809 | 9,806 | 9,803 | 9,801 | 9,798 | 10,645 | 10,642 | 9,797 | 9,795 | 10,492 | 10,489 | 10,985 | |||||
Convertible Debt | 977 | 976 | 975 | - | - | 0 | - | - | - | - | - | - | |||||
Line Of Credit | 0 | 0 | 0 | 185 | 300 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Other Borrowings | 797 | 797 | 797 | 797 | 796 | 799 | 798 | 699 | 1,199 | 1,198 | 1,197 | 1,196 | |||||
Commercial Paper | 750 | 750 | 750 | 750 | 500 | 500 | 500 | 500 | - | 0 | - | - | |||||
Dividends Payable Current And Noncurrent | 124 | 124 | 123 | 173 | 173 | 172 | 172 | 172 | 172 | 171 | 172 | 171 | |||||
Interest Payable Current And Noncurrent | 124 | 125 | 120 | 121 | 120 | 128 | 121 | 112 | 120 | 134 | 128 | 111 | |||||
Liabilities | 17,378 | 18,474 | 18,483 | 17,767 | 17,578 | 18,137 | 18,123 | 17,184 | 17,240 | 17,834 | 16,699 | 17,049 | |||||
Redeemable Noncontrolling Interest Equity Carrying… | 6 | 8 | 8 | 7 | 9 | 10 | 11 | 8 | 8 | 8 | 7 | 6 | |||||
Temporary Equity | |||||||||||||||||
Preferred Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Value | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | |||||
Additional Paid In Capital | 6,844 | 6,836 | 6,828 | 6,855 | 6,846 | 6,836 | 6,822 | 6,769 | 6,753 | 6,715 | 6,569 | 6,561 | |||||
Retained Earnings Accumulated Deficit | -1,684 | -1,675 | -1,812 | -1,580 | -1,514 | -1,420 | -1,036 | -965 | -890 | -816 | -782 | -517 | |||||
Treasury Stock Value | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | -3 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -6 | -13 | -15 | -15 | -11 | -2 | -26 | -0 | -4 | -21 | 3 | -3 | |||||
Stockholders Equity | 5,152 | 5,147 | 5,000 | 5,259 | 7,850 | 7,938 | 5,759 | 8,282 | 5,858 | 5,877 | 5,788 | 6,040 | |||||
Noncontrolling Interest I… | |||||||||||||||||
Minority Interest In Operating Partnerships | 584 | 567 | 554 | 585 | 592 | 591 | 638 | 678 | 685 | 667 | 657 | 689 | |||||
Minority Interest In Limited Partnerships | 1,982 | 1,971 | 1,955 | 2,004 | 1,938 | 1,934 | 1,874 | 1,802 | 1,735 | 1,641 | 1,589 | 1,557 | |||||
Liabilities And Stockholders Equity | 25,102 | 26,166 | 25,999 | 25,621 | 25,437 | 26,085 | 26,406 | 25,474 | 25,526 | 26,026 | 24,739 | 25,342 | |||||
Related Party | 10 | 9 | -80 | 0 | 89 | 5 | 0 | -0 | 89 | 89 | 89 | - | |||||
Nonrelated Party | 10 | 9 | 9 | - | - | 5 | - | - | - | - | - | - | |||||
Real Estate Investment Property At Cost | 28,375 | 28,242 | 28,610 | 28,428 | 28,115 | 27,871 | 27,558 | 27,273 | 27,063 | 26,749 | 26,031 | 25,763 | |||||
Finance Lease Right Of Use Asset | - | - | - | - | - | - | - | - | - | - | 238 | 238 | |||||
Finance Lease Right Of Use Asset Before Accumulate… | 372 | 372 | 373 | 373 | 373 | 373 | 373 | 373 | 401 | 402 | - | - | |||||
Operating Lease Right Of Use Asset | 321 | 326 | 321 | 326 | 330 | 335 | 340 | 344 | 344 | 324 | 323 | 166 | |||||
Real Estate Investment Property Accumulated Deprec… | -8,170 | -8,040 | -8,009 | -7,864 | -7,699 | -7,528 | -7,370 | -7,199 | -7,041 | -6,882 | -6,724 | -6,569 | |||||
Cash And Cash Equivalents At Carrying Value | 513 | 1,478 | 861 | 447 | 398 | 1,255 | 1,420 | 685 | 702 | 1,531 | 883 | 1,582 | |||||
Restricted Cash And Cash Equivalents At Carrying V… | 68 | 79 | 78 | 81 | 81 | 80 | 51 | 52 | 65 | 81 | 48 | 47 | |||||
Accounts Receivable Net | 90 | 93 | 137 | 110 | 117 | 107 | 100 | 82 | 94 | 122 | 123 | 92 | |||||
Notes Receivable Related Parties | - | - | - | - | - | - | - | - | - | - | - | 89 | |||||
Deferred Rent Receivables Net | 1,558 | 1,539 | 1,532 | 1,509 | 1,491 | 1,466 | 1,438 | 1,415 | 1,390 | 1,355 | 1,332 | 1,318 | |||||
Deferred Costs | 831 | 848 | 803 | 809 | 806 | 813 | 795 | 800 | 818 | 760 | 692 | 711 | |||||
Prepaid Expense And Other Assets | 189 | 108 | 138 | 90 | 139 | 71 | 132 | 86 | 146 | 64 | 121 | 77 | |||||
Real Estate Heldforsale | 0 | 25 | - | - | - | 0 | - | - | - | - | - | - | |||||
Secured Debt | 4,281 | 4,280 | 4,279 | 4,279 | 4,278 | 4,277 | 4,275 | 4,371 | 4,368 | 4,166 | 3,276 | 3,275 | |||||
Finance Lease Liability | 357 | 360 | 363 | 366 | 368 | 371 | 373 | 376 | 416 | 418 | 253 | 252 | |||||
Operating Lease Liability | 387 | 389 | 380 | 399 | 396 | 393 | 389 | 386 | 378 | 350 | 341 | 205 | |||||
Accounts Payable And Accrued Liabilities Current A… | 418 | 480 | 485 | 480 | 399 | 402 | 444 | 372 | 375 | 458 | 462 | 435 | |||||
Other Liabilities | 353 | 386 | 407 | 417 | 450 | 451 | 407 | 399 | 418 | 446 | 380 | 419 | |||||
Temporary Equity Shares Subscribed But Unissued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Limited Partners Capital Account Units Outstanding | 157 | 157 | 157 | 157 | 157 | 156 | 156 | 155 | 155 | 155 | 155 | 155 | |||||
General Partners Capital Account Units Outstanding | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | |||||
Excess Stock Shares Authorized | 150 | 150 | 150 | 150 | 150 | 150 | 150 | 150 | 150 | 150 | 150 | 150 | |||||
Excess Stock Shares Outstanding | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Excess Stock Shares Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Par Or Stated Value Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |||||
Preferred Stock Shares Authorized | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | |||||
Preferred Stock Shares Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Shares Outstanding | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Par Or Stated Value Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |||||
Common Stock Shares Authorized | 250 | 250 | 250 | 250 | 250 | 250 | 250 | 250 | 250 | 250 | 250 | 250 | |||||
Common Stock Shares Issued | 159 | 159 | 158 | 158 | 158 | 158 | 158 | 157 | 157 | 157 | 157 | 157 | |||||
Shares Outstanding | 159 | 159 | 158 | 158 | 158 | 158 | 158 | 157 | 157 | 157 | 157 | 157 | |||||
Treasury Stock Common Shares | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Notes Receivable Net | - | - | - | 7 | - | - | - | - | - | - | - | - | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | - | - | - | - | - | - | - | - | - | 0.92% | 13.35% | - |
| 2025 | 5.24% | 7.22% | 13.85% | 9.83% | 13.33% | 13.41% | 0.00% | -4.17% | -8.57% | -9.55% | 2.20% | 2.99% |
| 2024 | -1.35% | 1.73% | 16.50% | 14.58% | 23.03% | 34.13% | 0.75% | -8.32% | -8.40% | -2.43% | -7.45% | -1.72% |
| 2023 | - | - | - | -4.40% | -13.28% | -23.57% | 14.02% | 28.18% | 30.07% | -2.54% | -5.76% | -1.06% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Leverage & Debt | |||||||||||||||||
| Interest Coverage TTM | -0.46 | -0.58 | -1.30 | -0.95 | -1.01 | -0.98 | -0.43 | -0.78 | -0.68 | -0.67 | -0.42 | 0.55 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 2.19 | 1.74 | -1.23 | 0.22 | -0.03 | 0.09 | 2.25 | 0.86 | 1.22 | 1.21 | 2.02 | 5.03 | |||||
| Free Cash Flow Per Share TTM | 6.32 | 6.50 | 6.18 | 6.20 | 6.52 | 6.64 | 6.76 | 6.96 | 7.01 | 7.20 | 7.03 | 6.93 | |||||
| Dividend Per Share TTM | 3.75 | 4.06 | 4.37 | 4.37 | 4.37 | 4.38 | 4.38 | 4.39 | 4.38 | 4.38 | 4.38 | 4.38 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 74.97% | 75.16% | 73.11% | 72.73% | 72.34% | 73.89% | 74.31% | 74.18% | 73.94% | 71.46% | 70.95% | 70.77% | |||||
| Operating Profit Margin TTM | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |||||
| Net Profit Margin TTM | 242.30% | 193.14% | -145.05% | 26.32% | -3.33% | 10.56% | 268.45% | 105.35% | 158.69% | 168.45% | 293.01% | 744.75% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 8.05% | 6.05% | 1.44% | 3.57% | 9.94% | 19.68% | 22.30% | 21.31% | 10.62% | 5.31% | 4.93% | 7.56% | |||||
| Net Income Growth (1Y) | -7,962.63% | 1,839.46% | -154.81% | -74.13% | -102.31% | -92.50% | 12.05% | -82.84% | -79.14% | -81.36% | -65.61% | 17.80% | |||||
| EPS Growth (1Y) | -7,945.12% | 1,828.90% | -154.59% | -74.34% | -102.29% | -92.53% | 11.44% | -82.86% | -79.17% | -81.38% | -65.64% | 17.72% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 23.36 | 37.68 | -58.31 | 291.40 | -2,262.28 | 763.02 | 32.72 | 64.62 | 47.58 | 50.79 | 25.43 | 9.73 | |||||
| P/B | 1.06 | 1.36 | 2.28 | 1.94 | 1.28 | 1.37 | 2.02 | 1.06 | 1.56 | 1.18 | 1.40 | 1.27 | |||||
| P/S TTM | 56.59 | 72.78 | 84.58 | 76.68 | 75.33 | 80.58 | 87.84 | 68.07 | 75.51 | 85.56 | 74.52 | 72.44 | |||||
| Market Cap | 8.14B | 10.43B | 11.38B | 10.23B | 10.03B | 10.89B | 11.65B | 8.76B | 9.15B | 9.66B | 8.08B | 7.69B | |||||
| Enterprise Value | 18.10B | 22.27B | 22.04B | 20.25B | 19.93B | 20.78B | 21.32B | 18.38B | 18.24B | 18.54B | 17.64B | 17.05B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 1.00B | 1.03B | 978.24M | 981.12M | 1.03B | 1.04B | 1.07B | 1.09B | 1.10B | 1.13B | 1.10B | 1.09B | |||||
| Net Debt | 9.95B | 11.84B | 10.67B | 10.02B | 9.90B | 9.89B | 9.67B | 9.61B | 9.09B | 8.88B | 9.56B | 9.36B | |||||
Per-Share and Margin | |||||||||||||||||
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| Adjusted EPS TTM | |||||||||||||||||
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Turnover Ratios and Averages | |||||||||||||||||
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| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
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| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
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| Debt to EBITDA TTM | |||||||||||||||||
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Valuation Ratios | |||||||||||||||||
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| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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