ZYBERNO
Stock Report
Updated Aug 29, 2026

BXP, INC. (BXP)

Financial Services • NYSE

$69.80
BXP Inc. (formerly Boston Properties) is an American real estate investment trust headquartered in Boston, Massachusetts, and the largest publicly traded developer, owner, and manager of premier workplaces in the United States. The company develops and owns Class A office space concentrated in premier urban gateway markets including Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, D.C.

Professional Investment Analysis

ZYBERNO SCORE
Is it a great business? Is it getting better?
39.0/100
WEAK BUSINESS
BXP, INC. (BXP) scores 39/100 — weak fundamentals with mixed indicators requiring careful analysis before acting.
📊 How is the Zyberno Score calculated? +
VALUATION SIGNAL
MARGIN OF SAFETY
Is this stock cheap or expensive relative to what the business has historically generated for owners?
-41.4%
Overvalued
Growth gap unavailable — insufficient data for reverse DCF calculation.
🎯 Expected Annual Return
-14.9%
5-year annualised assuming price converges to intrinsic value
💰 How is Margin of Safety calculated? +
📈 How is Brina Gap calculated? +

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (3.7%)
Debt-to-Equity (Solvency Risk):EXCELLENT (0.15x)
Operating Margin (Operational Efficiency):CRITICAL (0.0%)
Return on Capital (Capital Efficiency):CRITICAL (0.0%)
📊 Valuation Trilogy
Three interconnected metrics for complete valuation analysis
Click any metric for full methodology and detailed analysis
Zyberno's Verdict

BXP, INC. (BXP) stock report — Zyberno Score 39/100 (WEAK BUSINESS), Margin of Safety -41.4%, -15% expected annual return. Full financial analysis on Zyberno.

According to Zyberno's DCF model, BXP, INC. (BXP) trades at $69.80 against an estimated intrinsic value per share of $49.36 — a -41.4% Margin of Safety based on Owner Earnings of $1.00B TTM, projected at -8.8% growth for 10 years with a 2.5% terminal growth rate. Zyberno's model translates this into a 5-year expected return of -14.9% annually.

Over the trailing twelve months, BXP generated $1.00B in Owner Earnings. Capital was deployed as follows: $545.15M paid as dividends, $190.06M invested in capital expenditures. Owner Earnings have declined at 8.8% annually over the trailing five years using log-linear regression.

DIVISION I: EXECUTIVE SUMMARY
A. Market Valuation

Market Price & Capitalization (2)

Current Price:69.80
Market Cap:$11.11B

Valuation Multiples (4)

P/B Ratio:1.45x
P/S Ratio:3.16x
Peg Ratio:0.49x

Enterprise Metrics (3)

Enterprise Value:$10.74B
Ev Ebitda Ratio:11.51x
Pfcf Ratio:11.09x

Price Action & Momentum (3)

Momentum Percentile:41 / 100
% of 52-Week High:88.0%
B. Profitability Assessment

Margin Analysis (2)

Net Margin Ttm:8.1%
Ebitda Margin:26.6%

TTM Performance (2)

Gross Margin Ttm:59.4%
Net Margin Ttm:8.1%

Yield Metrics (3)

Earnings Yield:$2.55
Owner Earnings Yield:$9.01
Dividend Yield:4.9%
C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

EPS Surprise vs Expected:-8.6%
Latest Earnings Filed:2026-08-06

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):3.5%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):-16.5%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):-8.8%
Operating Cash Flow Growth Rate (Linear):-7.1%
D. Financial Stability

Liquidity Ratios (3)

Current Ratio:0.08x
Quick Ratio:0.08x
Cash Ratio:0.08x

Leverage Analysis (3)

Debt To Equity Ttm:0.15x
Debt-to-Equity Ratio:0.15x
Debt To Ebitda:1.19x

Coverage Ratios (2)

Interest Coverage Ratio:0.00x
Times Interest Earned:0.00

Capital Structure (4)

Working Capital:-16,995,718,000.00
Cash And Cash Equivalents:1,478,206,000.00
Long Term Debt:$360.04M
Net Debt:-$368.17M
DIVISION II: FINANCIAL STATEMENTS ANALYSIS
A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $3.51B
Linear Growth: 3.5%
📊 Click to view full BXP Revenue analysis & methodology →
Cost Of Revenue Ttm:$0.00

Profitability Breakdown (2)

Gross profit TTM: $2.09B
Linear Growth: 2.1%
📊 Click to view full BXP Gross Profit analysis & methodology →
$0.00

Bottom Line Performance (3)

Net income TTM: $284.19M
Linear Growth: -16.5%
📊 Click to view full BXP Net Income analysis & methodology →
Income Before Tax:$0.00
Ebitda Ttm:933,106,000.00

Operating Expenses (5)

Operating Expenses:2,490,575,000.00
R And D Expense:0.00
Sga Expense:166,949,000.00
Income Tax Expense:$0.00
Interest Expense:643,119,000.00

Expense Ratios (3)

R And D To Revenue Percentage:0.0%
Sga To Revenue Percentage:18.6%
Ebitda Margin:26.6%
B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$26.17B
Current Assets:$1.48B
Ppe Net:0.00
Goodwill:0.00
Intangible Assets:$0.00

Liability Structure (4)

Total Liabilities:18,473,924,000.00
Current Liabilities:18,473,924,000.00
Long Term Debt:$360.04M
Short Term Debt:$750.00M

Equity & Capital (3)

Equity:$7.68B
Retained Earnings:-$1.67B
Common Stock:250,000,000.00

Working Capital Items (3)

Accounts Receivable:92,625,000.00
Inventory:0.00
Accounts Payable:480,017,000.00

Special Items (2)

Contract Liabilities:0.00
Stock Based Compensation:15,500,000.00
C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $1.19B
Linear Growth: -7.1%
Free cash flow TTM: $1.00B
Linear Growth: -8.8%
📊 Click to view full BXP Free Cash Flow analysis & methodology →

Investment Activities (2)

Investing Cash Flow:$5.83M
Capital Expenditures Ttm:190,057,000.00

Financing Activities (3)

Financing Cash Flow:-$1.14B
Dividends Paid Ttm:545,152,000.00
Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:-896,000.00
Long Term Debt Issuance:$0.00
Long Term Debt Repayments:$0.00

Non-Cash Items (1)

Depreciation Amortization Ttm:933,106,000.00
DIVISION III: OPERATIONAL METRICS
A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):1.79
Eps diluted TTM: $1.78
Linear Growth: -16.8%
📊 Click to view full BXP EPS analysis & methodology →
Earnings Per Share Ttm:$1.79

Revenue & Cash Per Share (3)

Sales Per Share Ttm:22.07
Operating Cash Flow Per Share:$7.82
Fcf Per Share Ttm:6.29

Book Value & Capital (2)

Book Value Per Share:$48.28
Cash Per Share:9.29

Dividend Policy (1)

Dividend Payout Ratio:274.96x
B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.14x
Working Capital Turnover Ttm:-999.00x

Receivables Management (2)

Receivables Turnover Ttm:37.92x
Days Sales Outstanding Ttm:9.62

Inventory Management (2)

Inventory Turnover Ttm:-999.00x
Days Inventory Outstanding Ttm:-999.00

Payables & Cash Cycle (2)

Days Payable Outstanding:49.88
Cash Conversion Cycle:-1,039.25
C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:60.00
Quality Score:90.00

Market Metrics (2)

Beta:0.00x
Volatility Category:unknown
DIVISION IV: INVESTMENT ANALYSIS
A. Value Investment Framework

Owner Earnings Analysis (3)

Owner earnings TTM: $1.00B
Linear Growth: -8.8%
📊 Click to view full BXP Owner Earnings analysis & methodology →
Owner Earnings Per Share:$6.29
Owner Earnings Yield:$9.01

Growth Assessment (1)

Owner Earnings Growth Rate:-$8.77

Intrinsic Value Models (1)

Return Scenarios (1)

Investment Assessment (1)

Buffett Assessment:Overvalued
B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (2)

Revenue Growth Rate (Linear):3.5%
Net Income Growth Rate (Linear):-16.5%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):-8.8%
Operating Cash Flow Growth Rate (Linear):-7.1%

Other Growth Rates (3)

Gross Profit Growth Rate (Linear):2.1%
Book Value Growth Rate (Linear):-1.4%
Owner Earnings Growth Rate:-$8.77
C. Company Profile & Context

Corporate Information (6)

Symbol:BXP
Company Name:BXP, INC.
Sector:Financial Services
Industry:Real Estate
Exchange:NYSE
Country:United States

Market Classification (3)

Market Cap Category:N/A
Price Category:high
Volume Category:N/A

Share Structure (3)

Shares Outstanding:159.17M
Shares Outstanding Basic:159.17M
Shares Outstanding Diluted:159.63M

Data Processing Info (3)

Processing Version:v3.0
Last Updated:2026-08-29 10:50:35 UTC
Data Timestamp:2026-08-29T10:50:35.970371
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