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NYSE · Real Estate

BXP, Inc. (BXP)

As-reported financials and SEC filings for BXP, Inc. The latest annual period is FY2025. The latest reported quarter is Q4 FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About BXP, Inc.

BXP, Inc. is a publicly traded real estate investment trust that develops, owns, and manages office, retail, residential, and hotel properties primarily in six major U.S. markets including Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. The company focuses on premier workplaces, which are modern or modernized buildings with amenities aimed at attracting creditworthy clients. BXP operates as a full-service real estate company with in-house expertise in various aspects of property and asset management.

Snapshot

Revenue
$3.48B
Revenue growth (YoY)
2.2%
Net income
$276.8M
Diluted EPS
$1.74
Gross margin
—
Operating margin
—
Net margin
7.9%
FCF margin
—
ROE
3.6%
net income / fiscal-year-end equity
P/E
33.0×
trailing when available, otherwise FY EPS
Market cap
$11.23B
Long-term debt / equity
—
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at BXP

  • Revenue grew 2.2% to $3.5B in FY2025, in line with the 4.1% the year before.
  • Most recent quarter Q4 FY2025: revenue $877M, up 2.2% from Q4 FY2024.
  • Net income rose more than tenfold to $277M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where BXP’s fundamentals sit among the 165 REITs. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Net margin7.9%
46th percentile of 157
Revenue growth (YoY)+2.2%
43rd percentile of 161
ROE3.6%
48th percentile of 142
P/E33.0×
67th percentile of 105
Short interest7.55d
85th percentile of 154

No reported insider transactions (codes P/S) in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 4 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+4 quant / multi-strat
Initiated / added
4
0 new, 4 added
Reduced / exited
1
1 trimmed, 0 exited
Combined position
$914.4M
reported long value
InvestorAs ofPosition valueSharesChange
First Eagle Investment ManagementQ2 2026$627.8M9.5MAdded
Citadel AdvisorsquantQ2 2026$128.3M1.9MReduced
AQR Capital ManagementquantQ2 2026$81.4M1.2MAdded
Millennium ManagementquantQ2 2026$47.9M721.7KAdded
Gotham Asset ManagementQ2 2026$28.1M423.9KAdded
D. E. ShawquantQ2 2026$1.0M15.4KHeld

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
0
—
Reported activity
Quiet
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-09
filed 2026-06-10
Michael E. LabelleEVP and CFOSell18.1K$66.05$1.2M
2026-06-09
filed 2026-06-10
Michael E. LabelleEVP and CFOSell8.0K$67.02$538K
2026-05-22
filed 2026-05-26
Eric G. KevorkianSVP, CLO and SecretarySell2.0K$59.85$120K
2026-05-21
filed 2026-05-26
Eric G. KevorkianSVP, CLO and SecretarySell200$60.23$12K
2026-05-20
Peter V. OtteniExecutive Vice PresidentSell4.9K$59.06$287K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
12.5M
settled 2026-09-30
Change vs prior
+1.0%
vs previous settlement
Days to cover
7.55
at avg daily volume
Avg daily volume
1.7M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-3012.5M+1.0%7.55
2026-09-1512.4M+10.3%10.95
2026-08-3111.2M+7.3%9.31
2026-08-1410.5M-1.5%9.29
2026-07-3110.6M-3.8%6.02
2026-07-1511.0M-2.6%9.41
2026-06-3011.3M-0.7%6.73
2026-06-1511.4M+1.3%7.73

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$3.48B$3.41B$3.27B$3.11B$2.89B
Gross profit—————
Operating income—————
Pre-tax income—————
Net income$276.8M$14.3M$190.2M$848.9M$505.2M
Diluted EPS$1.74$0.09$1.21$5.40$3.17

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$1.48B$1.25B$1.53B$690.3M$452.7M
Current assets—————
Total assets$26.17B$26.08B$26.03B$24.21B$22.37B
Current liabilities—————
Long-term debt————$3.30B
Total liabilities$18.47B$18.14B$17.83B$15.84B$14.32B
Total equity$7.68B$7.94B$8.18B$8.36B$8.03B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$1.25B$1.23B$1.30B$1.28B$1.13B
Capital expenditure—————
Free cash flow—————

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q4 FY20252.2%
Q3 FY2025$871.5M1.4%$-121.7M$-0.77
Q2 FY2025$868.5M2.1%$89.0M$0.56
Q1 FY2025$865.2M3.1%$61.2M$0.39
Q4 FY20243.6%
Q3 FY2024$859.2M4.2%$83.6M$0.53
Q2 FY2024$850.5M4.1%$79.6M$0.51
Q1 FY2024$839.4M4.5%$79.9M$0.51

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNYSE
SectorReal Estate
SIC industryReal Estate Investment Trusts
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ4 FY2025 (ended December 31, 2025)
Oldest indexed filing2016
SEC CIK1037540

Selected SEC filings

10-Q2026-08-06
View on EDGAR →
10-Q2026-05-07
View on EDGAR →
8-K2026-08-31
View on EDGAR →
8-K2026-07-28
View on EDGAR →
8-K2026-05-29
View on EDGAR →
8-K2026-05-22
View on EDGAR →

Largest reit peers

All reit stocks →All Real Estate companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.