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 129 industry peers in the Diversified REITs industry. BXP has a medium profitability rating, but doesn't score so well on its financial health evaluation. BXP does not seem to be growing, but still is valued expensively. BXP also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
BXP had positive earnings in the past year.
In the past year BXP had a positive cash flow from operations.
Each year in the past 5 years BXP has been profitable.
In the past 5 years BXP always reported a positive cash flow from operatings.
1.2 Ratios
BXP has a Return On Assets of -0.02%. This is comparable to the rest of the industry: BXP outperforms 40.31% of its industry peers.
With a Return On Equity value of -0.08%, BXP perfoms like the industry average, outperforming 40.31% of the companies in the same industry.
The Return On Invested Capital of BXP (3.33%) is better than 62.79% 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 3.15%.
| 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.
The Operating Margin of BXP (29.85%) is better than 64.34% of its industry peers.
BXP's Operating Margin has declined in the last couple of years.
The Gross Margin of BXP (60.45%) is worse than 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.
The number of shares outstanding for BXP has been increased compared to 1 year ago.
BXP has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, BXP has a worse debt to assets ratio.
2.2 Solvency
BXP has an Altman-Z score of 0.53. This is a bad value and indicates that BXP is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 0.53, BXP perfoms like the industry average, outperforming 48.84% 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.
Looking at the Debt to FCF ratio, with a value of 130.60, BXP is in line with its industry, outperforming 56.59% of the companies in the same 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 Debt to Equity ratio of 3.02. This is amonst the worse of the industry: BXP underperforms 80.62% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.02 | ||
| Debt/FCF | 130.6 | ||
| Altman-Z | 0.53 |
ROIC/WACC0.5
WACC6.62%
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.
Looking at the Current ratio, with a value of 1.36, BXP is in the better half of the industry, outperforming 68.99% of the companies in the same industry.
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 69.77% 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.
BXP shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -7.37% yearly.
BXP shows a small growth in Revenue. In the last year, the Revenue has grown by 3.73%.
BXP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.85% yearly.
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
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-17.93%
EPS Next 2Y-10.02%
EPS Next 3Y-3.29%
EPS Next 5Y4.45%
Revenue Next Year1.32%
Revenue Next 2Y2.04%
Revenue Next 3Y2.11%
Revenue Next 5Y2.6%
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 stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 31.59 indicates a quite expensive valuation of BXP.
Based on the Price/Earnings ratio, BXP is valued a bit cheaper than 60.47% of the companies in the same industry.
BXP is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.60, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 37.11 indicates a quite expensive valuation of BXP.
Based on the Price/Forward Earnings ratio, BXP is valued a bit cheaper than the industry average as 65.89% of the companies are valued more expensively.
BXP is valuated expensively when we compare the Price/Forward Earnings ratio to 22.43, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 31.59 | ||
| Fwd PE | 37.11 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BXP is on the same level as its industry peers.
BXP's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 87.14 | ||
| EV/EBITDA | 13.53 |
4.3 Compensation for Growth
BXP's earnings are expected to decrease with -3.29% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-10.02%
EPS Next 3Y-3.29%
5. Dividend
5.1 Amount
BXP has a Yearly Dividend Yield of 5.85%, which is a nice return.
BXP's Dividend Yield is comparable with the industry average which is at 6.62.
Compared to an average S&P500 Dividend Yield of 2.36, BXP pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.85% |
5.2 History
The dividend of BXP has a limited annual growth rate of 0.30%.
BXP has paid a dividend for at least 10 years, which is 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 Years13
5.3 Sustainability
BXP has negative earnings and hence a negative payout ratio. The dividend may be in danger.
BXP's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP-15588.5%
EPS Next 2Y-10.02%
EPS Next 3Y-3.29%
67.6
-0.3 (-0.44%)
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 Change4.07%
Ins Owners0.19%
Ins Owner Change-1.38%
Market Cap10.70B
Analysts69.23
Price Target77.28 (14.32%)
Short Float %6.02%
Short Ratio6
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.85% |
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)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)-4.59%
PT rev (3m)-8.58%
EPS NQ rev (1m)-1.69%
EPS NQ rev (3m)1.26%
EPS NY rev (1m)3.05%
EPS NY rev (3m)5.08%
Revenue NQ rev (1m)0.17%
Revenue NQ rev (3m)0.17%
Revenue NY rev (1m)0.29%
Revenue NY rev (3m)0.32%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 31.59 | ||
| Fwd PE | 37.11 | ||
| P/S | 3.12 | ||
| P/FCF | 87.14 | ||
| P/OCF | 8.58 | ||
| P/B | 2.01 | ||
| P/tB | 2.01 | ||
| EV/EBITDA | 13.53 |
EPS(TTM)2.14
EY3.17%
EPS(NY)1.82
Fwd EY2.69%
FCF(TTM)0.78
FCFY1.15%
OCF(TTM)7.88
OCFY11.65%
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 | 0.53 |
F-Score5
WACC6.62%
ROIC/WACC0.5
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-17.93%
EPS Next 2Y-10.02%
EPS Next 3Y-3.29%
EPS Next 5Y4.45%
Revenue 1Y (TTM)3.73%
Revenue growth 3Y5.66%
Revenue growth 5Y2.85%
Sales Q2Q%3.07%
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%