BOSTON PROPERTIES INC (BXP)

US1011211018 - REIT

66.25  +1.53 (+2.36%)

After market: 66.25 0 (0%)

Fundamental Rating

4

BXP gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 128 industry peers in the Diversified REITs industry. BXP has an average financial health and profitability rating. BXP has a expensive valuation and it also scores bad on growth. Finally BXP also has an excellent dividend rating.



5

1. Profitability

1.1 Basic Checks

In the past year BXP was profitable.
BXP had a positive operating cash flow in the past year.
BXP had positive earnings in each of the past 5 years.
BXP had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

With a Return On Assets value of 0.73%, BXP perfoms like the industry average, outperforming 53.60% of the companies in the same industry.
The Return On Equity of BXP (3.24%) is comparable to the rest of the industry.
With a decent Return On Invested Capital value of 3.29%, BXP is doing good in the industry, outperforming 68.00% of the companies in the same industry.
BXP had an Average Return On Invested Capital over the past 3 years of 3.48%. This is in line with the industry average of 3.00%.
Industry RankSector Rank
ROA 0.73%
ROE 3.24%
ROIC 3.29%
ROA(3y)2.15%
ROA(5y)2.53%
ROE(3y)8.52%
ROE(5y)9.79%
ROIC(3y)3.48%
ROIC(5y)3.55%

1.3 Margins

With a Profit Margin value of 5.81%, BXP perfoms like the industry average, outperforming 54.40% of the companies in the same industry.
BXP's Profit Margin has declined in the last couple of years.
The Operating Margin of BXP (31.73%) is better than 68.80% of its industry peers.
In the last couple of years the Operating Margin of BXP has remained more or less at the same level.
The Gross Margin of BXP (62.30%) is worse than 68.80% 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 RankSector Rank
OM 31.73%
PM (TTM) 5.81%
GM 62.3%
OM growth 3Y-1.09%
OM growth 5Y-1.44%
PM growth 3Y-42.88%
PM growth 5Y-22.71%
GM growth 3Y-0.01%
GM growth 5Y-0.02%

4

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BXP is destroying value.
Compared to 1 year ago, BXP has about the same amount of shares outstanding.
BXP has more shares outstanding than it did 5 years ago.
BXP has a worse debt/assets ratio than last year.

2.2 Solvency

BXP has an Altman-Z score of 0.61. This is a bad value and indicates that BXP is not financially healthy and even has some risk of bankruptcy.
BXP has a Altman-Z score of 0.61. This is comparable to the rest of the industry: BXP outperforms 58.40% of its industry peers.
The Debt to FCF ratio of BXP is 58.11, which is on the high side as it means it would take BXP, 58.11 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 58.11, BXP is in line with its industry, outperforming 49.60% of the companies in the same industry.
A Debt/Equity ratio of 2.77 is on the high side and indicates that BXP has dependencies on debt financing.
With a Debt to Equity ratio value of 2.77, BXP is not doing good in the industry: 83.20% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 2.77
Debt/FCF 58.11
Altman-Z 0.61
ROIC/WACC0.51
WACC6.5%

2.3 Liquidity

A Current Ratio of 2.77 indicates that BXP has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 2.77, BXP belongs to the top of the industry, outperforming 87.20% of the companies in the same industry.
BXP has a Quick Ratio of 2.77. This indicates that BXP is financially healthy and has no problem in meeting its short term obligations.
BXP's Quick ratio of 2.77 is amongst the best of the industry. BXP outperforms 87.20% of its industry peers.
Industry RankSector Rank
Current Ratio 2.77
Quick Ratio 2.77

3

3. Growth

3.1 Past

The earnings per share for BXP have decreased strongly by -52.41% in the last year.
Measured over the past years, BXP shows a decrease in Earnings Per Share. The EPS has been decreasing by -7.13% on average per year.
BXP shows a small growth in Revenue. In the last year, the Revenue has grown by 5.31%.
BXP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.80% yearly.
EPS 1Y (TTM)-52.41%
EPS 3Y-24.15%
EPS 5Y-7.13%
EPS growth Q2Q-2.56%
Revenue 1Y (TTM)5.31%
Revenue growth 3Y5.78%
Revenue growth 5Y3.8%
Revenue growth Q2Q4.95%

3.2 Future

The Earnings Per Share is expected to grow by 4.03% 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 2.37% yearly.
EPS Next Y-4.4%
EPS Next 2Y-4.86%
EPS Next 3Y-0.19%
EPS Next 5Y4.03%
Revenue Next Year1.75%
Revenue Next 2Y2.47%
Revenue Next 3Y2.58%
Revenue Next 5Y2.37%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

3

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 25.78 indicates a quite expensive valuation of BXP.
Based on the Price/Earnings ratio, BXP is valued a bit cheaper than 68.00% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.31, BXP is valued at the same level.
With a Price/Forward Earnings ratio of 26.97, BXP can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BXP indicates a rather cheap valuation: BXP is cheaper than 80.80% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of BXP to the average of the S&P500 Index (21.87), we can say BXP is valued slightly more expensively.
Industry RankSector Rank
PE 25.78
Fwd PE 26.97

4.2 Price Multiples

BXP's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. BXP is cheaper than 62.40% of the companies in the same industry.
The rest of the industry has a similar Price/Free Cash Flow ratio as BXP.
Industry RankSector Rank
P/FCF 37.13
EV/EBITDA 13.45

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-4.86%
EPS Next 3Y-0.19%

7

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 6.06%, BXP is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.90, BXP pays a bit more dividend than its industry peers.
BXP's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
Industry RankSector Rank
Dividend Yield 6.06%

5.2 History

The dividend of BXP has a limited annual growth rate of 2.81%.
BXP has paid a dividend for at least 10 years, which is a reliable track record.
As BXP did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)2.81%
Div Incr Years0
Div Non Decr Years7

5.3 Sustainability

361.58% of the earnings are spent on dividend by BXP. This is not a sustainable payout ratio.
The dividend of BXP is growing, but earnings are growing more, so the dividend growth is sustainable.
DP361.58%
EPS Next 2Y-4.86%
EPS Next 3Y-0.19%

BOSTON PROPERTIES INC

NYSE:BXP (3/1/2024, 7:05:39 PM)

After market: 66.25 0 (0%)

66.25

+1.53 (+2.36%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap10.40B
Analysts
Price Target
Dividend
Industry RankSector Rank
Dividend Yield 6.06%
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
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EPS beat(8)
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EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
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Revenue beat(8)
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Revenue beat(12)
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Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
Industry RankSector Rank
PE 25.78
Fwd PE 26.97
P/S
P/FCF
P/OCF
P/B
P/tB
EV/EBITDA
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.73%
ROE 3.24%
ROCE
ROIC
ROICexc
ROICexgc
OM 31.73%
PM (TTM) 5.81%
GM 62.3%
FCFM
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.13
Health
Industry RankSector Rank
Debt/Equity 2.77
Debt/FCF
Debt/EBITDA
Cap/Depr
Cap/Sales
Interest Coverage
Cash Conversion
Profit Quality
Current Ratio 2.77
Quick Ratio 2.77
Altman-Z
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-52.41%
EPS 3Y-24.15%
EPS 5Y
EPS growth Q2Q
EPS Next Y-4.4%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)5.31%
Revenue growth 3Y5.78%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y