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MARKETS / NYSE / BXP
NYSE · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Bxp, Inc. BXP

19 fiscal years on record · USD · FY2025 reported · SEC filings only
$3.5B
▲ 2.2% YoY
$276.8M
▲ 1839.5% YoY
In brief

What this company does

BXP develops, owns, and manages properties in the United States. Its properties are concentrated in six markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. At December 31, 2025, it owned or held joint venture interests in a portfolio of 179 commercial real estate properties totaling approximately 52.6 million net rentable square feet, including eight properties under construction or redevelopment totaling approximately 3.5 million net rentable square feet. As of December 31, 2025, its properties consisted of 157 office properties, 14 retail properties, seven residential properties, and one hotel. As of December 31, 2025, it had 714 non-union employees and 112 union employees. BXP was formed in 1997 to succeed the real estate businesses associated with the predecessor company founded by Mortimer B. Zuckerman and Edward H. Linde in 1970.

Written from the business description in BXP, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
USD 3.5B
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 3.5 · Net income 0.3
2B2007201020132016201920222025
Compound annual growth
+3.9%
+4.7%
+3.4%
+5.6%
−31.2%
−20.5%
−7.2%
+3.8%
−31.4%
−20.7%
−7.3%
+2.9%
−24.5%
−2.1%
−1.4%
−6.2%
+4.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +4.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
11 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating — · Net 11.0%
50%100%2007201020132016201920222025
ROE
FY2025 · ROE 5.2%
5%10%2007201020132016201920222025

Each USD of equity produced 5 cents of profit this year.

Cash & shareholders
USD 643.1M
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2024 · FCF 1.2
0.5B1.0B-0.2B-0.4B2007201020132016201920222025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.6 · Net buybacks —
0.5B1.0B2007201020132016201920222025

USD 643.1M in dividends — 232% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 26.2B
EquityUSD 5.1B
CashUSD 1.5B
Gross debtUSD 4.3B
Net debtUSD 2.8B

Net debt stands at 54% of equity.

The 19-year record
19 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B3.53.43.33.12.92.83.02.72.62.62.52.42.11.81.71.51.51.51.5
Operating income $B········0.90.80.80.80.70.60.60.60.60.60.3
EBITDA $B········1.51.51.51.41.21.11.00.90.90.90.6
Income tax $B···················
Net income $B0.30.00.20.80.50.90.50.60.50.50.60.40.70.30.30.20.20.11.3
Free cash flow $B·1.21.3−0.00.91.01.01.20.91.00.80.70.30.30.5−0.00.6−0.0−0.5
EPS, diluted $1.740.091.215.403.175.543.303.702.933.263.722.834.861.921.861.141.760.8710.80
Dividend / sh $········3.052.703.857.10·······
Payout %2324834362811357912810111413121018960129122204155117487
ROE %5.20.33.214.28.514.99.010.08.08.910.27.813.85.85.93.65.72.9·
Shares out B0.160.160.160.160.160.160.150.150.150.150.150.150.150.150.150.140.140.12·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 56 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 17 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2007

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