BXP, Inc. (BXP) intrinsic value & 10-year financials
BXP, Inc. (BXP) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 3.5% a year to $3.5B, with an average return on invested capital of 6.4%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $59.20
- Market cap
- $9.4B
- Revenue (FY2025)
- $3.5B
- Revenue growth (10-yr CAGR)
- 3.5%
- ROIC (10-yr avg)
- 6.4%
- Free cash flow (FY2025)
- $561.4M
BXP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $3.5B | $276.8M | $1.74 | $561.4M | — | 6.1% |
| FY2024 | $3.4B | $14.3M | $0.09 | $583.2M | — | 0.3% |
| FY2023 | $3.3B | $190.2M | $1.21 | $775.6M | — | 4.4% |
| FY2022 | $3.1B | $848.9M | $5.40 | $782.1M | — | 9.8% |
| FY2021 | $2.9B | $505.2M | $3.17 | $619.3M | — | 6.3% |
| FY2020 | $2.8B | $872.7M | $5.54 | $674.3M | — | 11.4% |
| FY2019 | $3.0B | $521.5M | $3.30 | $635.1M | — | 6.4% |
| FY2018 | $2.7B | $582.8M | $3.70 | $455.5M | — | 7.0% |
| FY2017 | $2.6B | $462.4M | $2.93 | $299.0M | 34.9% | 5.8% |
| FY2016 | $2.6B | $512.8M | $3.26 | $536.5M | 32.4% | 6.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
BXP, Inc. has demonstrated mature, steady growth, with revenue compounding at 3.5% annually over the past decade.
BXP, Inc. has historically struggled to out-earn its cost of capital, averaging just 6.4% ROIC.
BXP, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, BXP, Inc. is modeled at -6.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-7.48 per share.