BXP INC (BXP) Stock Fundamental Analysis
NYSE:BXP - New York Stock Exchange, Inc. - US1011211018 - REIT - Currency: USD
BXP gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 130 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 has a expensive valuation and it also scores bad on growth. 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.
In the past 5 years BXP has always been profitable.
In the past 5 years BXP always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of BXP (-0.02%) is comparable to the rest of the industry.
With a Return On Equity value of -0.08%, BXP perfoms like the industry average, outperforming 40.77% of the companies in the same industry.
BXP has a Return On Invested Capital of 3.33%. This is in the better half of the industry: BXP outperforms 63.08% of its industry peers.
BXP had an Average Return On Invested Capital over the past 3 years of 3.37%. This 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
BXP's Profit Margin has declined in the last couple of years.
BXP has a Operating Margin of 29.85%. This is in the better half of the industry: BXP outperforms 63.85% of its industry peers.
In the last couple of years the Operating Margin of BXP has declined.
BXP has a Gross Margin of 60.45%. This is in the lower half of the industry: BXP underperforms 67.69% of its industry peers.
In the last couple of years the Gross Margin of BXP has remained more or less at the same level.
| 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.
BXP has more shares outstanding than it did 5 years ago.
The debt/assets ratio for BXP is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.54, we must say that BXP is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.54, BXP is in line with its industry, outperforming 49.23% of the companies in the same industry.
The Debt to FCF ratio of BXP is 130.60, which is on the high side as it means it would take BXP, 130.60 years of fcf income to pay off all of its debts.
BXP's Debt to FCF ratio of 130.60 is in line compared to the rest of the industry. BXP outperforms 57.69% of its industry peers.
BXP has a Debt/Equity ratio of 3.02. This is a high value indicating a heavy dependency on external financing.
BXP's Debt to Equity ratio of 3.02 is on the low side compared to the rest of the industry. BXP is outperformed by 80.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.02 | ||
| Debt/FCF | 130.6 | ||
| Altman-Z | 0.54 |
ROIC/WACC0.52
WACC6.43%
2.3 Liquidity
A Current Ratio of 1.36 indicates that BXP should not have too much problems paying its short term obligations.
BXP has a Current ratio of 1.36. This is in the better half of the industry: BXP outperforms 67.69% of its industry peers.
BXP has a Quick 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.
The Quick ratio of BXP (1.36) is better than 68.46% 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 for BXP have decreased strongly by -17.05% in the last 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.
BXP shows a small growth in Revenue. In the last year, the Revenue has grown by 3.73%.
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)-17.05%
EPS 3Y-10.8%
EPS 5Y-7.37%
EPS Q2Q%-21.57%
Revenue 1Y (TTM)3.73%
Revenue growth 3Y5.66%
Revenue growth 5Y2.85%
Sales Q2Q%3.07%
3.2 Future
BXP is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.45% yearly.
BXP is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.69% yearly.
EPS Next Y-16.76%
EPS Next 2Y-8.49%
EPS Next 3Y-2.36%
EPS Next 5Y4.45%
Revenue Next Year1.76%
Revenue Next 2Y2.28%
Revenue Next 3Y2.45%
Revenue Next 5Y2.69%
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
Based on the Price/Earnings ratio of 32.16, the valuation of BXP can be described as expensive.
Compared to the rest of the industry, the Price/Earnings ratio of BXP indicates a somewhat cheap valuation: BXP is cheaper than 62.31% of the companies listed in the same industry.
BXP is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.45, which is the current average of the S&P500 Index.
BXP is valuated quite expensively with a Price/Forward Earnings ratio of 36.53.
Based on the Price/Forward Earnings ratio, BXP is valued a bit cheaper than 66.92% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of BXP to the average of the S&P500 Index (21.90), we can say BXP is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.16 | ||
| Fwd PE | 36.53 |
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 | 88.72 | ||
| EV/EBITDA | 13.61 |
4.3 Compensation for Growth
BXP's earnings are expected to decrease with -2.36% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-8.49%
EPS Next 3Y-2.36%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.79%, BXP is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 6.64, BXP has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.42, BXP pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.79% |
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 their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)0.3%
Div Incr Years0
Div Non Decr Years14
5.3 Sustainability
BXP has negative earnings and hence a negative payout ratio. The dividend may be in danger.
The dividend of BXP is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-15588.5%
EPS Next 2Y-8.49%
EPS Next 3Y-2.36%
68.83
+0.56 (+0.82%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners108.14%
Inst Owner Change4.02%
Ins Owners0.19%
Ins Owner Change-0.8%
Market Cap10.90B
Analysts69.23
Price Target76.8 (11.58%)
Short Float %6.54%
Short Ratio6.25
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.79% |
Yearly Dividend4.38
Dividend Growth(5Y)0.3%
DP-15588.5%
Div Incr Years0
Div Non Decr Years14
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)21.3%
Min EPS beat(2)1.99%
Max EPS beat(2)40.62%
EPS beat(4)3
Avg EPS beat(4)11.54%
Min EPS beat(4)-3.05%
Max EPS beat(4)40.62%
EPS beat(8)6
Avg EPS beat(8)9.59%
EPS beat(12)9
Avg EPS beat(12)31.12%
EPS beat(16)13
Avg EPS beat(16)35.77%
Revenue beat(2)2
Avg Revenue beat(2)1.18%
Min Revenue beat(2)0.35%
Max Revenue beat(2)2.02%
Revenue beat(4)4
Avg Revenue beat(4)1.79%
Min Revenue beat(4)0.35%
Max Revenue beat(4)2.87%
Revenue beat(8)8
Avg Revenue beat(8)1.57%
Revenue beat(12)12
Avg Revenue beat(12)1.68%
Revenue beat(16)15
Avg Revenue beat(16)1.62%
PT rev (1m)-0.62%
PT rev (3m)-5.33%
EPS NQ rev (1m)2.9%
EPS NQ rev (3m)1.16%
EPS NY rev (1m)1.42%
EPS NY rev (3m)4.09%
Revenue NQ rev (1m)0.1%
Revenue NQ rev (3m)0.4%
Revenue NY rev (1m)0.44%
Revenue NY rev (3m)0.7%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.16 | ||
| Fwd PE | 36.53 | ||
| P/S | 3.17 | ||
| P/FCF | 88.72 | ||
| P/OCF | 8.74 | ||
| P/B | 2.05 | ||
| P/tB | 2.05 | ||
| EV/EBITDA | 13.61 |
EPS(TTM)2.14
EY3.11%
EPS(NY)1.88
Fwd EY2.74%
FCF(TTM)0.78
FCFY1.13%
OCF(TTM)7.88
OCFY11.44%
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 | 0.54 |
F-Score5
WACC6.43%
ROIC/WACC0.52
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)-17.05%
EPS 3Y-10.8%
EPS 5Y-7.37%
EPS Q2Q%-21.57%
EPS Next Y-16.76%
EPS Next 2Y-8.49%
EPS Next 3Y-2.36%
EPS Next 5Y4.45%
Revenue 1Y (TTM)3.73%
Revenue growth 3Y5.66%
Revenue growth 5Y2.85%
Sales Q2Q%3.07%
Revenue Next Year1.76%
Revenue Next 2Y2.28%
Revenue Next 3Y2.45%
Revenue Next 5Y2.69%
EBIT growth 1Y-2.35%
EBIT growth 3Y1.65%
EBIT growth 5Y-0.5%
EBIT Next Year87.1%
EBIT Next 3Y25.87%
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%