Skip to content
ESPT
MARKETS / NYSE / Real estate / Real estate investment trusts / 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

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

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
2B3B
2007201020132016201920222025
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 the five years to FY2025.

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%
200720162025
ROE
FY2025 · ROE 5.2%
5%10%
200720162025
Three returns, three denominators.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.
Gross margin59.1%
Operating margin·
Net margin11.0%
EBITDA·

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-0.4B
200720162025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.6 · Net buybacks ·
0.5B1.0B
2007201020132016201920222025
Dividends paidUSD 643.1M
Net buybacks·
Share of profit232.3%
Consecutive raises1 year

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—not applicable◌not available in our data
BXP, 19-year financial record
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. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

BN · CBRE · JLL · WELL · AMT · CWK
Provenance

Company facts, as filed

How we verify · 0 failures in 56 reconciliationsAUDITED

Reconciled in 19 of the 19 fiscal years we could check. Five checks were skipped: cost of revenue is not tagged before 2012. One check was skipped: the balance sheet is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2007

Share this section

Download image