BXP INC (BXP) Stock Fundamental Analysis
NYSE:BXP - New York Stock Exchange, Inc. - US1011211018 - REIT - Currency: USD
BXP gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 129 industry peers in the Diversified REITs industry. While BXP is still in line with the averages on profitability rating, there are concerns on its financial health. BXP is quite expensive at the moment. It does show a decent growth rate. Finally BXP also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
In the past year BXP was profitable.
In the past year BXP had a positive cash flow from operations.
Each year in the past 5 years BXP has been profitable.
Each year in the past 5 years BXP had a positive operating cash flow.
1.2 Ratios
BXP has a Return On Assets of -0.02%. This is in the lower half of the industry: BXP underperforms 61.24% of its industry peers.
BXP's Return On Equity of -0.08% is on the low side compared to the rest of the industry. BXP is outperformed by 61.24% of its industry peers.
BXP's Return On Invested Capital of 3.33% is fine compared to the rest of the industry. BXP outperforms 62.79% of its industry peers.
The Average Return On Invested Capital over the past 3 years for BXP is in line with the industry average of 3.16%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.02% | ||
| ROE | -0.08% | ||
| ROIC | 3.33% |
ROA(3y)1.43%
ROA(5y)2.06%
ROE(3y)5.78%
ROE(5y)8.04%
ROIC(3y)3.37%
ROIC(5y)3.39%
1.3 Margins
In the last couple of years the Profit Margin of BXP has declined.
With a decent Operating Margin value of 29.85%, BXP is doing good in the industry, outperforming 64.34% of the companies in the same industry.
BXP's Operating Margin has declined in the last couple of years.
BXP has a Gross Margin of 60.45%. This is in the lower half of the industry: BXP underperforms 67.44% of its industry peers.
BXP's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 29.85% | ||
| PM (TTM) | N/A | ||
| GM | 60.45% |
OM growth 3Y-3.8%
OM growth 5Y-3.26%
PM growth 3Y-71%
PM growth 5Y-52.47%
GM growth 3Y-1.62%
GM growth 5Y-0.75%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BXP is destroying value.
BXP has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, BXP has more shares outstanding
Compared to 1 year ago, BXP has a worse debt to assets ratio.
2.2 Solvency
BXP has an Altman-Z score of 0.52. This is a bad value and indicates that BXP is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of BXP (0.52) is comparable to the rest of the industry.
BXP has a debt to FCF ratio of 130.60. This is a negative value and a sign of low solvency as BXP would need 130.60 years to pay back of all of its debts.
The Debt to FCF ratio of BXP (130.60) is comparable to the rest of the industry.
BXP has a Debt/Equity ratio of 3.02. This is a high value indicating a heavy dependency on external financing.
BXP has a worse Debt to Equity ratio (3.02) than 80.62% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.02 | ||
| Debt/FCF | 130.6 | ||
| Altman-Z | 0.52 |
ROIC/WACC0.51
WACC6.55%
2.3 Liquidity
BXP has a Current Ratio of 1.36. This is a normal value and indicates that BXP is financially healthy and should not expect problems in meeting its short term obligations.
BXP's Current ratio of 1.36 is fine compared to the rest of the industry. BXP outperforms 66.67% of its industry peers.
A Quick Ratio of 1.36 indicates that BXP should not have too much problems paying its short term obligations.
BXP has a better Quick ratio (1.36) than 67.44% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.36 | ||
| Quick Ratio | 1.36 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 31.01% over the past year.
Measured over the past years, BXP shows a decrease in Earnings Per Share. The EPS has been decreasing by -7.37% on average per year.
The Revenue has been growing slightly by 3.73% in the past year.
Measured over the past years, BXP shows a small growth in Revenue. The Revenue has been growing by 2.85% on average per year.
EPS 1Y (TTM)31.01%
EPS 3Y-10.8%
EPS 5Y-7.37%
EPS Q2Q%221.57%
Revenue 1Y (TTM)3.73%
Revenue growth 3Y5.66%
Revenue growth 5Y2.85%
Sales Q2Q%-3.38%
3.2 Future
The Earnings Per Share is expected to grow by 4.45% on average over the next years.
BXP is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.60% yearly.
EPS Next Y-20.35%
EPS Next 2Y-7.2%
EPS Next 3Y-3.97%
EPS Next 5Y4.45%
Revenue Next Year1.32%
Revenue Next 2Y2.04%
Revenue Next 3Y2.11%
Revenue Next 5Y2.6%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 19.56, BXP is valued on the expensive side.
BXP's Price/Earnings ratio is a bit cheaper when compared to the industry. BXP is cheaper than 73.64% of the companies in the same industry.
BXP is valuated rather cheaply when we compare the Price/Earnings ratio to 24.85, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 34.12 indicates a quite expensive valuation of BXP.
68.99% of the companies in the same industry are more expensive than BXP, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 20.89. BXP is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.56 | ||
| Fwd PE | 34.12 |
4.2 Price Multiples
BXP's Enterprise Value to EBITDA is on the same level as the industry average.
The rest of the industry has a similar Price/Free Cash Flow ratio as BXP.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 85.22 | ||
| EV/EBITDA | 13.38 |
4.3 Compensation for Growth
A cheap valuation may be justified as BXP's earnings are expected to decrease with -3.97% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-7.2%
EPS Next 3Y-3.97%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.17%, BXP is a good candidate for dividend investing.
BXP's Dividend Yield is comparable with the industry average which is at 6.64.
BXP's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.17% |
5.2 History
The dividend of BXP has a limited annual growth rate of 0.30%.
BXP has been paying a dividend for at least 10 years, so it has a reliable track record.
BXP has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)0.3%
Div Incr Years0
Div Non Decr Years13
5.3 Sustainability
The earnings of BXP are negative and hence is the payout ratio. BXP will probably not be able to sustain this dividend level.
BXP's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP-15588.5%
EPS Next 2Y-7.2%
EPS Next 3Y-3.97%
66.11
+0.07 (+0.11%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners105.17%
Inst Owner Change-0.66%
Ins Owners0.19%
Ins Owner Change-1.38%
Market Cap10.47B
Analysts69.23
Price Target77.28 (16.9%)
Short Float %6.02%
Short Ratio6
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.17% |
Yearly Dividend4.38
Dividend Growth(5Y)0.3%
DP-15588.5%
Div Incr Years0
Div Non Decr Years13
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)192.14%
Min EPS beat(2)40.62%
Max EPS beat(2)343.65%
EPS beat(4)3
Avg EPS beat(4)96.95%
Min EPS beat(4)-3.05%
Max EPS beat(4)343.65%
EPS beat(8)6
Avg EPS beat(8)52.29%
EPS beat(12)9
Avg EPS beat(12)59.59%
EPS beat(16)13
Avg EPS beat(16)57.13%
Revenue beat(2)0
Avg Revenue beat(2)-2.39%
Min Revenue beat(2)-4.61%
Max Revenue beat(2)-0.16%
Revenue beat(4)2
Avg Revenue beat(4)0.01%
Min Revenue beat(4)-4.61%
Max Revenue beat(4)2.87%
Revenue beat(8)6
Avg Revenue beat(8)0.68%
Revenue beat(12)10
Avg Revenue beat(12)1.08%
Revenue beat(16)13
Avg Revenue beat(16)1.17%
PT rev (1m)-4.59%
PT rev (3m)-8.58%
EPS NQ rev (1m)1.37%
EPS NQ rev (3m)-1.67%
EPS NY rev (1m)-0.4%
EPS NY rev (3m)4.28%
Revenue NQ rev (1m)0.17%
Revenue NQ rev (3m)0.28%
Revenue NY rev (1m)0.29%
Revenue NY rev (3m)0.32%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.56 | ||
| Fwd PE | 34.12 | ||
| P/S | 3.05 | ||
| P/FCF | 85.22 | ||
| P/OCF | 8.39 | ||
| P/B | 1.97 | ||
| P/tB | 1.97 | ||
| EV/EBITDA | 13.38 |
EPS(TTM)3.38
EY5.11%
EPS(NY)1.94
Fwd EY2.93%
FCF(TTM)0.78
FCFY1.17%
OCF(TTM)7.88
OCFY11.91%
SpS21.69
BVpS33.6
TBVpS33.6
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.02% | ||
| ROE | -0.08% | ||
| ROCE | 4.3% | ||
| ROIC | 3.33% | ||
| ROICexc | 3.38% | ||
| ROICexgc | 3.38% | ||
| OM | 29.85% | ||
| PM (TTM) | N/A | ||
| GM | 60.45% | ||
| FCFM | 3.58% |
ROA(3y)1.43%
ROA(5y)2.06%
ROE(3y)5.78%
ROE(5y)8.04%
ROIC(3y)3.37%
ROIC(5y)3.39%
ROICexc(3y)3.54%
ROICexc(5y)3.55%
ROICexgc(3y)3.54%
ROICexgc(5y)3.55%
ROCE(3y)4.3%
ROCE(5y)4.3%
ROICexcg growth 3Y-2.23%
ROICexcg growth 5Y-4.04%
ROICexc growth 3Y-2.23%
ROICexc growth 5Y-4.04%
OM growth 3Y-3.8%
OM growth 5Y-3.26%
PM growth 3Y-71%
PM growth 5Y-52.47%
GM growth 3Y-1.62%
GM growth 5Y-0.75%
F-Score5
Asset Turnover0.13
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.02 | ||
| Debt/FCF | 130.6 | ||
| Debt/EBITDA | 8.38 | ||
| Cap/Depr | 126.51% | ||
| Cap/Sales | 32.74% | ||
| Interest Coverage | 1.53 | ||
| Cash Conversion | 65.17% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.36 | ||
| Quick Ratio | 1.36 | ||
| Altman-Z | 0.52 |
F-Score5
WACC6.55%
ROIC/WACC0.51
Cap/Depr(3y)182.14%
Cap/Depr(5y)171.07%
Cap/Sales(3y)45.26%
Cap/Sales(5y)42.47%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)31.01%
EPS 3Y-10.8%
EPS 5Y-7.37%
EPS Q2Q%221.57%
EPS Next Y-20.35%
EPS Next 2Y-7.2%
EPS Next 3Y-3.97%
EPS Next 5Y4.45%
Revenue 1Y (TTM)3.73%
Revenue growth 3Y5.66%
Revenue growth 5Y2.85%
Sales Q2Q%-3.38%
Revenue Next Year1.32%
Revenue Next 2Y2.04%
Revenue Next 3Y2.11%
Revenue Next 5Y2.6%
EBIT growth 1Y-2.35%
EBIT growth 3Y1.65%
EBIT growth 5Y-0.5%
EBIT Next Year87.01%
EBIT Next 3Y26.15%
EBIT Next 5Y15.44%
FCF growth 1Y112.8%
FCF growth 3YN/A
FCF growth 5Y13.2%
OCF growth 1Y-3.85%
OCF growth 3Y2.9%
OCF growth 5Y0.89%