BXP - NYSE

BXP, Inc.

BXP, Inc.

BXPยทNYSE

$61.91

+0.95%
Real EstateREIT - Office

Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space. The Company's portfolio totals 51.2 million square feet and 196 properties, including six properties under construction/redevelopment.

StatementsValue Model

At a Glance

Live Snapshot
Market Cap$9.87B
EPS1.7500
P/E Ratio35.38
Earnings Date08/04/2026
BXP, Inc.

BXP, Inc. Fair Value Envelope

BXP ยท NYSE

Our analysis suggests that BXP has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $61.91, this represents a potential HIDDEN relative to our calculated worth for BXP, Inc..

HIDDEN
Intrinsic Value
Current Price: $61.91

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$6.7B
+ Cash & Equivalents$1.5B
Firm Value$8.2B
- Debt$17.4B
Equity Value-$9.2B
/ Shares Outstanding158,466,425B
DCF Value-$58
OVERVALUED BY 194%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$1.1B
$957.4M
$839.5M
$736.1M
$645.4M
$565.9M
$496.3M
$435.1M
$381.6M
$334.6M
Maintenance CapEx
-$97.4M
-$85.4M
-$74.9M
-$65.7M
-$57.6M
-$50.5M
-$44.3M
-$38.8M
-$34.0M
-$29.9M
Owner Earnings
$994.4M
$871.9M
$764.6M
$670.4M
$587.8M
$515.5M
$452.0M
$396.3M
$347.5M
$304.7M
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$920.7M
$747.5M
$606.9M
$492.8M
$400.1M
$324.8M
$263.7M
$214.1M
$173.8M
$141.1M
Terminal Value represents 35.9% of Enterprise Value

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2

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3

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4

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5

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6

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