Boston Properties Inc. (0HOX) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Boston Properties Inc. $30.45, price $60.99, upside -50.1%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Boston Properties Inc. for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $39.28 – $106.52 · fair‑value band $22.84 – $38.07 · the $60.99 price screens above the $30.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Follow Boston Properties in your weekly email
Every Wednesday you see whether Boston Properties is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
BXP, Inc. (BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States. Also, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 55 years.
Show more
BXP, Inc. (BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States. Also, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 55 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of March 31, 2026, including properties owned by joint ventures, BXP's portfolio totals 50.4 million square feet and 164 properties, including six properties under construction/redevelopment. BXP's portfolio consists of 143 office properties, 14 retail properties, six residential properties (including three residential properties under construction) and one hotel. BXP is well known for its in-house building management expertise and responsiveness to clients' needs. BXP holds a superior track record of developing premium Central Business District (CBD) office buildings, successful mixed-use complexes, suburban office centers and build-to-suit projects for a diverse array of creditworthy clients. BXP actively works to promote its growth and operations in a sustainable and responsible manner. BXP has earned a fourteenth consecutive GRESB (Green Star) recognition and the highest GRESB 5-star Rating and was named one of the world's most sustainable companies by TIME Magazine. BXP, an S&P 500 company, was founded in 1970 by Mortimer B. Zuckerman and Edward H. Linde and became a public company in 1997. BXP, Inc. was incorporated in 1970 in Delaware and is based in Massachusetts, Boston.
Stock analysis
Boston Properties Inc. (0HOX) currently trades at $60.99, while our model-based Fair Value estimate is $30.45, 50.1% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of $51.46 per share, and 4 of the 14 models we run sit above the $60.99 price.
Bear case: the Asset-Based group reads lowest at $22.35, and 10 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: $22.84 (bear) to $38.07 (bull), the price of $60.99 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Boston Properties Inc. reported revenue of $3.5B in FY2025 versus $2.9B in FY2021, a compound +4.8%/yr. Reported net income was $277M in FY2025, compounding −14.0%/yr from FY2021.
Key figures
Market cap $9.7B · P/E ratio 0.2 · P/S ratio 0.02 · EPS (TTM) $3.49 · Dividend yield 5.1% · Net margin 7.9% · Return on equity 5.5% · Return on assets (EBIT) 4.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −1% fair-value upside, at −50%, 0HOX screens richer than that median.
Fair Value models
Bear $22.84Fair Value $30.45Bull $38.07
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.3100 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.73/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.7%
Start year 2020 (pandemic). Over 10 years: +3.3% a year
Revenue growth 28 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.5%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+7.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.9%
Dividend (yield on the price)5.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−12.3% vs −7.3%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.33% → 29%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+21.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +19.1% a year for the price and +0.0% for the forecasts.
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Office · 69 stocks
Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−50.1% · Bottom 25%
Profitability
Return on equity (TTM)5.5% · Top 25%
Return on assets1.7% · Below median
Net margin (TTM)10.0% · Below median
Operating margin (TTM)25.7% · Below median
Growth and dividend
Revenue growth0.6% · Above median
Dividend yield (TTM)5.1% · Below median
Balance sheet
Debt / equity2.50× · Highest 25%
Valuation Multiplesvs REIT - Office median · lower = cheaper
P/E (TTM)0.2× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 35
FUTURE (revenue growth)3· sector 0
PAST (return on equity)22· sector 8
HEALTH (low debt)0· sector 66
DIVIDEND (yield)100· sector 100
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Boston Properties Inc. Fair Value". https://www.fairvalue-calculator.com/stock/0HOX
Frequently asked questions
Is Boston Properties Inc. (0HOX) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $30.45 versus a price of $60.99, about −50% upside (overvalued).
What is the fair value of 0HOX?
Our model-based fair value for Boston Properties Inc. is $30.45 (as of Sep 24, 2026), built from audited fundamentals. The current price: $60.99.
What is the quality score of 0HOX?
Boston Properties Inc. has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Boston Properties Inc. (0HOX)?
Our model-based price target is the fair value of $30.45 (as of Sep 24, 2026) from 14 valuation models. Cautious scenario $22.84, optimistic scenario $38.07. It is a calculation from audited fundamentals, not an analyst target.
What is the Boston Properties Inc. stock forecast for 2026?
Our models put fair value at $30.45, about −50% upside versus a price of $60.99 (overvalued). Cautious scenario $22.84, optimistic scenario $38.07. The calculation is refreshed regularly with new filings.
What is the revenue of Boston Properties Inc. (0HOX)?
Boston Properties Inc. reported trailing-twelve-month revenue of about $3.2B (latest available figure, as of Sep 24, 2026).
Does Boston Properties Inc. pay a dividend?
Boston Properties Inc. currently shows a dividend yield of about 5.05% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Boston Properties Inc. (0HOX)?
For today's price to be fair in a discounted-cash-flow model, Boston Properties Inc. would have to grow free cash flow by +21.9 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0HOX use?
Our models discount Boston Properties Inc. at 10.4 %: a base by market capitalisation (unknown), damped by beta 1.04, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Boston Properties Inc. that is +21.9 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Boston Properties Inc. (0HOX) delivered so far?
Over the past 5 years revenue at Boston Properties Inc. grew +4.7 % a year. The price currently implies +21.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Boston Properties Inc. (0HOX) growing?
The median revenue growth in the sector is +7.3 % a year. That is the yardstick for the growth priced into Boston Properties Inc. (+21.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Boston Properties Inc. (0HOX)?
The free-cash-flow yield on the price is 5.38 %: that much free cash flow Boston Properties Inc. produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Boston Properties Inc. (0HOX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Boston Properties Inc. it is $30.45 per share (as of Sep 24, 2026), against a price of $60.99. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Boston Properties Inc. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0HOX trades above its calculated fair value: price $60.99, fair value $30.45, a gap of about −50% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0HOX?
No. The price is what the market pays today ($60.99); the fair value is what the company's own numbers justify ($30.45). For Boston Properties Inc. the two are $30.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Boston Properties Inc. worth?
The market values Boston Properties Inc. at about $9.7B (market capitalisation, as of Sep 24, 2026). Per share that is $60.99; our models calculate a fair value of $30.45 per share.
What do the bullish and bearish scenarios say about 0HOX?
Our models span a range for Boston Properties Inc.: cautious scenario $22.84, base $30.45, optimistic $38.07 per share (as of Sep 24, 2026, price $60.99). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0HOX?
Boston Properties Inc. trades at a price-to-earnings ratio of 0.2 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $30.45 is built from several models across several years.
How solid is the balance sheet of Boston Properties Inc. (0HOX)?
Balance-sheet figures for Boston Properties Inc. (as of Sep 24, 2026): return on equity 5.5%, debt of 2.50 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 0HOX from its 52-week high?
Boston Properties Inc. trades at $60.99, about 18% below its 52-week high of $74.71 and 22% above the low of $50.02 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $30.45 is for.
Which stocks are comparable to Boston Properties Inc.?
From the same area (Real Estate) we also value BXP, Inc, Vornado Realty Trust, Alexandria Real Estate Equities, Inc, MERLIN Properties SOCIMI, S.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Boston Properties Inc. stock attractive at the current price?
The data as of Sep 24, 2026: price $60.99, calculated fair value $30.45 (−50%), Quality Score 49/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0HOX calculated?
We run Boston Properties Inc. through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $30.45, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Boston Properties Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Boston Properties Inc. (0HOX)?
The closing price on Oct 2, 2026 was $60.99. Our model-based fair value is $30.45, about −50% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Boston Properties Inc. right now?
The price sits above even our optimistic bull case ($38.07). The favourable scenario is already priced in. Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Boston Properties Inc. (0HOX) come from?
Earnings per share at Boston Properties Inc. grew −5.0 % a year from 2013 to 2024. Broken into its drivers: revenue per share +3.3 %, EBIT margin +1.8 %, tax rate −5.9 %, residual (interest, one-offs) −4.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Boston Properties Inc.
How large is the market capitalisation of Boston Properties Inc. (0HOX)?
The market capitalisation of Boston Properties Inc. is $9.7B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Boston Properties Inc. (0HOX)?
The price-to-sales ratio of Boston Properties Inc. is 0.02 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Boston Properties Inc. (0HOX)?
Earnings per share at Boston Properties Inc. are $3.49 (price ÷ EPS = P/E 0.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Boston Properties Inc. (0HOX)?
The dividend yield of Boston Properties Inc. is 5.1% (payout 88.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Boston Properties Inc. (0HOX)?
The net margin of Boston Properties Inc. is 7.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Boston Properties Inc. (0HOX)?
The return on equity (ROE) of Boston Properties Inc. is 5.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Boston Properties Inc. (0HOX)?
On an EBIT basis the return on assets of Boston Properties Inc. is 4.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Boston Properties Inc. (0HOX)?
The operating margin of Boston Properties Inc. is 25.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Boston Properties Inc. (0HOX)?
Revenue at Boston Properties Inc. is growing +0.6% versus a year earlier (3y avg +3.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Boston Properties Inc. (0HOX)?
Earnings per share at Boston Properties Inc. are growing +65.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Boston Properties Inc. (0HOX) carry?
The net debt of Boston Properties Inc. is $15.8B (fiscal year 2025, ≈ 22.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Boston Properties Inc. in the live analysis
One click puts Boston Properties Inc. on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
