BXP, Inc. (BXP) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of BXP, Inc. stock $43.24, price $65.01, that is 33.5% below the price, quality 53 out of 100. Rating: overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
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. As of Nov 6, 2026.
How to read this chart
60‑month range $39.31 – $105.03 · fair‑value band $28.25 – $71.37 · the $65.01 price screens above the $43.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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BXP, Inc. (BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States.
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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
BXP, Inc. (BXP) currently trades at $65.01, while our model-based Fair Value estimate is $43.24, 33% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $54.81 per share, and 4 of the 16 models we run sit above the $65.01 price.
Bear case: the Asset-Based group reads lowest at $18.36, and 12 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: $28.25 (bear) to $71.37 (bull), the price of $65.01 sits inside 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 53/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
BXP, 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 $11.8B Large · P/E ratio 19.5 · P/S ratio 3.04 · EPS (TTM) $3.34 · Dividend yield 4.3% · Net margin 15.6% · Return on equity 9.0% · Return on assets (EBIT) 4.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (medium confidence).
What moves the price
The share trades about 11% below its 52-week high and 28% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −1% fair-value upside, at −33%, BXP screens richer than that median.
Fair Value models
Bear$28.25Fair Value $43.24Bull$71.37
Price $65.01 · Downside -33.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.4616 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.Coverage ⓘCoverage = 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.
In the last 6 months, 3 officers or directors sold shares worth $2.2M and none bought.
SaleMichael E LabelleEVP and CFO26,113 shares at $66.35$1.7MJun 9, 2026
SaleEric G KevorkianSVP, CLO and Secretary2,200 shares at $59.88$131,746May 22, 2026
SalePeter Otteni VExecutive Vice President2× since Nov 25, 2025: 8,999 shares, avg. $65.31$587,689May 20, 2026
SaleHilary J. SpannExecutive Vice President2× since Feb 5, 2026: 6,689 shares, avg. $60.34$403,589Feb 27, 2026
SaleOwen D ThomasChief Executive Officer, Director1,198 shares at $61.22$73,342Feb 13, 2026
SaleRaymond A RitcheySenior EVP36,314 shares at $72.18$2.6MDec 1, 2025
SaleJohn J StromanExecutive Vice President16,838 shares at $72.17$1.2MNov 12, 2025
Plus 6 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
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.
+3.9%
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: +3.4% 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%
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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: adjusted.
−31.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−35.3%
Dividend (yield on the price)4.3%
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 −6.2%, 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% → 56%
Pace: the 5-year rate starts in 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).
+20.0%
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.
+2.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +17.2% a year for the price and +0.1% for the forecasts.
AI conclusion: BXP draws on experience with premium projects like Salesforce Tower to support advisory roles in major developments, yet structural leasing pressure, thin profitability and no evident moat sources limit business quality.
Main risk: Elevated leverage and upcoming debt maturities could force BXP to refinance at higher interest rates, raising borrowing costs and squeezing margins on its office leases in gateway markets.
Bull case: BXP could leverage AI-driven tenant growth and its focus on premium workplaces to boost occupancy and rents while using asset sales to reduce leverage and lower refinancing costs over time.
Bear case: If hybrid work persists and refinancing costs rise sharply, BXP might face sustained pressure on occupancy, rents and cash flows, limiting its ability to fund developments or maintain distributions.
BXP is consulting on development, leasing and marketing for San Francisco's Fifty at First, a planned 1.5-million-square-foot office tower set to become the city's second-tallest building by 2031. This draws on its experience delivering premium projects like Salesforce Tower while the broader office sector shows uneven leasing momentum. Will this kind of advisory role accelerate its platform growth or mainly expose it to the risks of new supply in recovering markets?
Price, fair value, quality and upside side by side.
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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 · 63 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Above median
Fair Value upside−33.5% · Below median
Profitability
Return on equity (12 months)9.0% · Top 25%
Return on assets1.5% · Above median
Net margin (12 months)21.7% · Above median
Operating margin (12 months)32.7% · Below median
Growth and dividend
Revenue growth (quarter YoY)5.5% · Above median
Dividend yield (12 months)4.3% · Below median
Balance sheet
Debt / equity3.08× · Highest 25%
Valuation Multiplesvs REIT - Office median · lower = cheaper
P/E (12 months)19.5× · Cheaper than median
P/B2.29× · Priciest 25%
P/S (12 months)4.79× · Pricier than median
Price / free cash flow (fiscal year)23.7× · Pricier than median
EV/EBITDA19.6× · Priciest 25%
PEG2.45× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 41
FUTURE (revenue growth)28· sector 6
PAST (return on equity)36· sector 9
HEALTH (low debt)0· sector 69
DIVIDEND (yield)86· 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). "BXP, Inc. Fair Value". https://www.fairvalue-calculator.com/stock/BXP
Frequently asked questions
Is BXP, Inc. (BXP) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $43.24 versus a price of $65.01, about 33% lower (overvalued).
What is the fair value of BXP?
Our model-based fair value for BXP, Inc. is $43.24 (as of Nov 6, 2026), built from audited fundamentals. The current price: $65.01.
What is the quality score of BXP?
BXP, Inc. has a Quality Score of 53/100. 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 BXP, Inc. (BXP)?
Our model-based price target is the fair value of $43.24 (as of Nov 6, 2026) from 16 valuation models. Cautious scenario $28.25, optimistic scenario $71.37. It is a calculation from audited fundamentals, not an analyst target.
What is the BXP, Inc. stock forecast for 2026?
Our models put fair value at $43.24, about 33% lower versus a price of $65.01 (overvalued). Cautious scenario $28.25, optimistic scenario $71.37. The calculation is refreshed regularly with new filings.
What is the revenue of BXP, Inc. (BXP)?
BXP, Inc. reported trailing-twelve-month revenue of about $3.4B (latest available figure, as of Nov 6, 2026).
Does BXP, Inc. pay a dividend?
BXP, Inc. currently shows a dividend yield of 4.31% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of BXP, Inc. (BXP) and when is the ex-dividend date?
BXP, Inc. pays a dividend of $2.80 per share a year, a dividend yield of 4.3%. The last ex-dividend date was Sep 30, 2026. A dividend has been paid every year since at least 1997. The payout ratio is 83.8% of earnings. Free cash flow covers the dividend 1.54 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into BXP, Inc. (BXP)?
For today's price to be fair in a discounted-cash-flow model, BXP, Inc. would have to grow free cash flow by +20.0 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.7 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of BXP use?
Our models discount BXP, Inc. at 9.3 %: a base by market capitalisation (large), damped by beta 1.05, country premium for USA. 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 BXP, Inc. that is +20.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has BXP, Inc. (BXP) delivered so far?
Over the past 5 years revenue at BXP, Inc. grew +4.7 % a year. The price currently implies free-cash-flow growth of +20.0 % per 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 BXP, Inc. (BXP) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into BXP, Inc. (+20.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of BXP, Inc. (BXP)?
The free-cash-flow yield on the price is 6.65 %: that much free cash flow BXP, Inc. produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of BXP, Inc. (BXP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BXP, Inc. it is $43.24 per share (as of Nov 6, 2026), against a price of $65.01. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is BXP, Inc. stock overvalued or undervalued in 2026?
As of Nov 6, 2026, BXP trades above its calculated fair value: price $65.01, fair value $43.24, a gap of about −33% (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 BXP?
No. The price is what the market pays today ($65.01); the fair value is what the company's own numbers justify ($43.24). For BXP, Inc. the two are $21.77 per share apart. That gap is exactly why we show both numbers side by side.
How much is BXP, Inc. worth?
The market values BXP, Inc. at about $11.8B (market capitalisation, as of Nov 6, 2026). Per share that is $65.01; our models calculate a fair value of $43.24 per share.
What do the bullish and bearish scenarios say about BXP?
Our models span a range for BXP, Inc.: cautious scenario $28.25, base $43.24, optimistic $71.37 per share (as of Nov 6, 2026, price $65.01). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BXP?
BXP, Inc. trades at a price-to-earnings ratio of 19.5 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $43.24 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 9 of the years ex one-offs: 32.1. Other multiples: PEG 2.4, P/B 2.3, P/S 4.8, EV/EBITDA 19.6.
What is the PEG ratio of BXP?
The PEG ratio of BXP, Inc. is 2.45 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of BXP, Inc. (BXP)?
Balance-sheet figures for BXP, Inc. (as of Nov 6, 2026): return on equity 9.0%, debt of 3.08 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is BXP from its 52-week high?
BXP, Inc. trades at $65.01, about 11% below its 52-week high of $72.97 and 28% above the low of $50.74 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $43.24 is for.
Which stocks are comparable to BXP, Inc.?
From the same area (Real Estate) we also value MERLIN Properties SOCIMI, S.A, Alexandria Real Estate Equities, Inc, Vornado Realty Trust, Cousins Properties Incorporated, 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 BXP, Inc. stock attractive at the current price?
The data as of Nov 6, 2026: price $65.01, calculated fair value $43.24 (−33%), Quality Score 53/100, from 16 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 BXP calculated?
We run BXP, Inc. through 16 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of $43.24 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. BXP, 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 BXP, Inc. (BXP)?
The closing price on Nov 6, 2026 was $65.01. Our model-based fair value is $43.24, about 33% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BXP, Inc. right now?
Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($28.25 to $71.37) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of BXP, Inc. (BXP) come from?
Earnings per share at BXP, Inc. grew −5.9 % a year from 2013 to 2024. Broken into its drivers: revenue per share +3.5 %, EBIT margin −0.4 %, tax rate +0.5 %, residual (interest, one-offs) −9.1 %. 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 BXP, Inc.
How large is the market capitalisation of BXP, Inc. (BXP)?
The market capitalisation of BXP, Inc. is $11.8B. 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 BXP, Inc. (BXP)?
The price-to-sales ratio of BXP, Inc. is 3.04 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of BXP, Inc. (BXP)?
Earnings per share at BXP, Inc. are $3.34 (price ÷ EPS = P/E 19.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of BXP, Inc. (BXP)?
The dividend yield of BXP, Inc. is 4.3% (payout 83.8%). 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 BXP, Inc. (BXP)?
The net margin of BXP, Inc. is 15.6% (last twelve months). 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 BXP, Inc. (BXP)?
The return on equity (ROE) of BXP, Inc. is 9.0% (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 BXP, Inc. (BXP)?
On an EBIT basis the return on assets of BXP, Inc. is 4.8% (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 BXP, Inc. (BXP)?
The operating margin of BXP, Inc. is 32.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BXP, Inc. (BXP)?
Revenue at BXP, Inc. is growing +5.5% versus a year earlier (3y avg +3.9%). 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 BXP, Inc. (BXP)?
Earnings per share at BXP, Inc. are growing −23.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does BXP, Inc. (BXP) carry?
The net debt of BXP, Inc. is $15.9B (fiscal year 2025, ≈ 23.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 6, 2026