BXP, Inc. Financials
BXP, Inc. (BXP) reported $3.5B in revenue for fiscal year 2025, up 2.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash generation remains steadier than earnings because depreciation-heavy assets and rising financing costs dominate how this business converts revenue into profit.
From FY2023 through FY2025, operating cash flow stayed near$1.2B even as net profitability nearly disappeared in FY2024 before recovering in FY2025. That gap lines up with depreciation of$912M and interest expense of$653M in FY2025, indicating the business still throws off cash but more of it is absorbed before it reaches common earnings.
Leverage has crept up as debt-to-equity moved from 3.0x in FY2023 to 3.6x in FY2025 while equity kept shrinking, so the same asset base is being supported by a thinner capital cushion. Cash of
Revenue growth has not improved margin shape: gross margin slipped from
Financial Health Signals
Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of BXP, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for BXP, Inc., and counted as zero in the overall score.
Not available for BXP, Inc., and counted as zero in the overall score.
BXP, Inc. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, BXP, Inc. generates $4.50 in operating cash flow ($1.2B OCF vs $276.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
BXP, Inc. generated $3.5B in revenue in fiscal year 2025. This represents an increase of 2.2% from the prior year.
BXP, Inc. reported $276.8M in net income in fiscal year 2025. This represents an increase of 1835.7% from the prior year.
BXP, Inc. earned $1.74 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1833.3% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
BXP, Inc. held $1.5B in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
BXP, Inc.'s gross margin was 59.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.8 percentage points from the prior year.
BXP, Inc.'s net profit margin was 8.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.5 percentage points from the prior year.
BXP, Inc.'s ROE was 5.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 5.1 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
BXP Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.5B | $3.5B+2.2% | $3.4B+4.1% | $3.3B+5.3% | $3.1B+7.6% | $2.9B+4.4% | $2.8B-6.6% | $3.0B+9.0% | $2.7B+4.4% | $2.6B+2.0% | $2.6B+2.4% | $2.5B+3.9% | $2.4B+12.2% | $2.1B+15.6% | $1.8B+5.5% | $1.8B |
| Gross Profit | $2.1B | $2.1B+0.9% | $2.0B+2.1% | $2.0B+3.6% | $1.9B+6.4% | $1.8B+7.1% | $1.7B-7.2% | $1.8B+10.7% | $1.6B+2.7% | $1.6B | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $183.8M | $168.8M+5.5% | $160.0M-6.0% | $170.2M+16.2% | $146.4M-3.4% | $151.6M+13.9% | $133.1M-5.4% | $140.8M+15.7% | $121.7M+7.0% | $113.7M+8.1% | $105.2M+9.3% | $96.3M-2.6% | $98.9M-14.2% | $115.3M+28.0% | $90.1M+13.2% | $79.6M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $908.1M+10.0% | $825.8M-2.8% | $849.4M+5.9% | $801.8M+18.2% | $678.1M+5.9% | $640.3M+3.8% | $616.8M |
| Interest Expense | $632.4M | $653.1M+1.2% | $645.1M+11.3% | $579.6M+32.6% | $437.1M+3.3% | $423.3M-1.9% | $431.7M+4.6% | $412.7M+9.1% | $378.2M+1.0% | $374.5M-9.3% | $412.8M-4.5% | $432.2M-5.2% | $455.7M+2.0% | $446.9M+8.7% | $411.0M+4.3% | $394.1M |
| Net Income | $296.8M | $276.8M+1835.7% | $14.3M-92.5% | $190.2M-77.6% | $848.9M+71.1% | $496.2M-43.1% | $872.7M+67.3% | $521.5M-10.5% | $582.8M+26.0% | $462.4M-9.8% | $512.8M-12.1% | $583.1M+31.4% | $443.6M-40.8% | $749.8M+158.9% | $289.6M+6.2% | $272.7M |
| EPS (Diluted) | — | $1.74+1833.3% | $0.09-92.6% | $1.21-77.6% | $5.40+70.3% | $3.17-42.8% | $5.54+67.9% | $3.30-10.8% | $3.70+26.3% | $2.93-10.1% | $3.26-12.4% | $3.72+31.4% | $2.83-41.8% | $4.86+153.1% | $1.92+3.2% | $1.86 |
Not reported in any period shown, so not listed: Cost of Revenue, R&D Expenses, Income Tax.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
BXP Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $26.2B+0.3% | $26.1B+0.2% | $26.0B+7.5% | $24.2B+8.2% | $22.4B-2.2% | $22.9B+7.4% | $21.3B+5.1% | $20.3B+4.6% | $19.4B+2.8% | $18.9B+2.7% | $18.4B-7.7% | $19.9B-1.4% | $20.2B+30.5% | $15.5B+4.6% | $14.8B |
| Cash & Equivalents | $1.5B+17.8% | $1.3B-18.1% | $1.5B+121.8% | $690.3M+52.5% | $452.7M-72.9% | $1.7B+158.7% | $645.0M+18.7% | $543.4M+25.0% | $434.8M+21.8% | $356.9M-50.7% | $723.7M-59.0% | $1.8B-25.5% | $2.4B+127.0% | $1.0B-42.8% | $1.8B |
| Accounts Receivable | $92.6M-13.8% | $107.5M-12.2% | $122.4M+50.4% | $81.4M+16.0% | $70.2M-9.3% | $77.4M-31.4% | $112.8M+30.2% | $86.6M-6.0% | $92.2M-0.4% | $92.5M-5.4% | $97.9M+110.0% | $46.6M-21.6% | $59.5M-14.5% | $69.6M-12.9% | $79.8M |
| Total Liabilities | $18.5B+1.9% | $18.1B+1.7% | $17.8B+12.6% | $15.8B+10.6% | $14.3B-1.3% | $14.5B+9.4% | $13.3B+10.1% | $12.0B+6.9% | $11.3B+3.2% | $10.9B+4.3% | $10.5B-11.9% | $11.9B-8.5% | $13.0B+35.0% | $9.6B+3.3% | $9.3B |
| Long-Term Debt | N/A | N/A | N/A | N/A | $3.3B+12.6% | $2.9B-0.6% | $2.9B-1.5% | $3.0B-0.6% | $3.0B+48.4% | $2.0B-39.5% | $3.4B-19.5% | $4.2B-2.1% | $4.3B+39.0% | $3.1B-1.1% | $3.1B |
| Total Equity | $5.1B-4.9% | $5.4B-7.9% | $5.9B-4.2% | $6.1B+5.1% | $5.8B-2.7% | $6.0B+5.5% | $5.7B-3.4% | $5.9B+1.2% | $5.8B+0.5% | $5.8B+1.3% | $5.7B+0.2% | $5.7B-0.8% | $5.7B+12.6% | $5.1B+4.7% | $4.9B |
| Retained Earnings | -$1.7B-18.0% | -$1.4B-73.9% | -$816.2M-108.5% | -$391.4M+37.5% | -$625.9M-22.8% | -$509.7M+33.0% | -$760.5M-12.6% | -$675.5M+5.2% | -$712.3M-2.7% | -$693.7M+11.2% | -$781.0M-2.4% | -$762.5M-602.4% | -$108.6M+1.3% | -$110.0M-107.2% | -$53.1M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities.
BXP Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.3B | $1.2B+0.9% | $1.2B-5.1% | $1.3B+1.5% | $1.3B+13.2% | $1.1B-2.0% | $1.2B-2.1% | $1.2B+2.7% | $1.2B+26.1% | $912.0M-11.8% | $1.0B+29.4% | $799.4M+14.9% | $695.6M-10.6% | $777.9M+21.0% | $642.9M+6.0% | $606.3M |
| Investing Cash Flow | -$381.0M | -$644.5M+47.9% | -$1.2B-3.7% | -$1.2B+25.5% | -$1.6B-54.1% | -$1.0B-69.5% | -$613.7M+39.5% | -$1.0B+7.6% | -$1.1B-24.6% | -$882.0M+34.0% | -$1.3B-377.2% | -$280.2M+57.9% | -$665.1M-24.9% | -$532.6M+58.3% | -$1.3B-1318.5% | -$90.1M |
| Financing Cash Flow | -$877.9M | -$378.6M-37.9% | -$274.5M-135.7% | $767.9M+38.1% | $556.1M+142.4% | -$1.3B-370.8% | $484.3M+527.2% | -$113.4M-237.5% | $82.5M+49.0% | $55.3M+174.2% | -$74.6M+95.2% | -$1.6B-146.4% | -$632.5M-158.7% | $1.1B+837.5% | -$146.1M-117.7% | $828.0M |
| Dividends Paid | $495.7M | $643.1M-6.8% | $689.9M+0.3% | $687.8M+0.4% | $685.0M+0.2% | $683.8M-0.7% | $688.9M+3.4% | $666.3M+13.4% | $587.6M+11.6% | $526.6M-21.6% | $671.6M-45.2% | $1.2B+45.9% | $840.3M+86.3% | $451.1M+21.0% | $372.9M+12.1% | $332.6M |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
BXP Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.1%-0.8pp | 59.9%-1.2pp | 61.1%-1.0pp | 62.1%-0.7pp | 62.8%+1.6pp | 61.3%-0.4pp | 61.7%+1.0pp | 60.7%-1.0pp | 61.7% | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 34.9%+2.5pp | 32.4%-1.7pp | 34.1%+0.7pp | 33.5%+1.7pp | 31.8%-2.9pp | 34.7%-0.6pp | 35.2% |
| Net Margin | 8.0%+7.5pp | 0.4%-5.4pp | 5.8%-21.5pp | 27.3%+10.1pp | 17.2%-14.4pp | 31.6%+13.9pp | 17.6%-3.8pp | 21.4%+3.7pp | 17.8%-2.3pp | 20.1%-3.3pp | 23.4%+4.9pp | 18.5%-16.6pp | 35.1%+19.4pp | 15.7%+0.1pp | 15.6% |
| Return on Equity | 5.4%+5.1pp | 0.3%-3.0pp | 3.2%-10.6pp | 13.8%+5.3pp | 8.5%-6.0pp | 14.5%+5.4pp | 9.2%-0.7pp | 9.9%+2.0pp | 8.0%-0.9pp | 8.9%-1.3pp | 10.2%+2.4pp | 7.8%-5.3pp | 13.1%+7.4pp | 5.7%+0.1pp | 5.6% |
| Return on Assets | 1.1%+1.0pp | 0.1%-0.7pp | 0.7%-2.8pp | 3.5%+1.3pp | 2.2%-1.6pp | 3.8%+1.4pp | 2.5%-0.4pp | 2.9%+0.5pp | 2.4%-0.3pp | 2.7%-0.5pp | 3.2%+1.0pp | 2.2%-1.5pp | 3.7%+1.8pp | 1.9%0.0pp | 1.8% |
| Debt-to-Equity | 3.59+0.2x | 3.35+0.3x | 3.03+0.5x | 2.58+2.0x | 0.57+0.1x | 0.490.0x | 0.520.0x | 0.510.0x | 0.52+0.2x | 0.35-0.2x | 0.59-0.1x | 0.730.0x | 0.74+0.1x | 0.600.0x | 0.64 |
Not reported in any period shown, so not listed: Current Ratio, FCF Margin.
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Where BXP, Inc. Ranks
Frequently Asked Questions
What is BXP, Inc.'s annual revenue?
BXP, Inc. (BXP) reported $3.5B in total revenue for fiscal year 2025. This represents a 2.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is BXP, Inc.'s revenue growing?
BXP, Inc. (BXP) revenue grew by 2.2% year-over-year, from $3.4B to $3.5B in fiscal year 2025.
Is BXP, Inc. profitable?
Yes, BXP, Inc. (BXP) reported a net income of $276.8M in fiscal year 2025, with a net profit margin of 8.0%.
What is BXP, Inc.'s gross margin?
BXP, Inc. (BXP) had a gross margin of 59.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is BXP, Inc.'s net profit margin?
BXP, Inc. (BXP) had a net profit margin of 8.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is BXP, Inc.'s return on equity (ROE)?
BXP, Inc. (BXP) has a return on equity of 5.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is BXP, Inc.'s operating cash flow?
BXP, Inc. (BXP) generated $1.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are BXP, Inc.'s total assets?
BXP, Inc. (BXP) had $26.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is BXP, Inc.'s debt-to-equity ratio?
BXP, Inc. (BXP) had a debt-to-equity ratio of 3.59 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is BXP, Inc.'s return on assets (ROA)?
BXP, Inc. (BXP) had a return on assets of 1.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is BXP, Inc.'s Piotroski F-Score?
BXP, Inc. (BXP) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are BXP, Inc.'s earnings high quality?
BXP, Inc. (BXP) has an earnings quality ratio of 4.50x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is BXP, Inc.?
BXP, Inc. (BXP) scores 39 out of 100 on our Financial Health Score, indicating weak standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.