BXP INC (BXP) Stock Fundamental Analysis
NYSE:BXP - New York Stock Exchange, Inc. - US1011211018 - REIT - Currency: USD
We assign a fundamental rating of 4 out of 10 to BXP. BXP was compared to 129 industry peers in the Diversified REITs industry. There are concerns on the financial health of BXP while its profitability can be described as average. BXP is valied quite expensively at the moment, while 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.
Of the past 5 years BXP 4 years had a positive operating cash flow.
1.2 Ratios
BXP has a better Return On Assets (1.37%) than 60.32% of its industry peers.
BXP has a better Return On Equity (6.30%) than 80.16% of its industry peers.
Looking at the Return On Invested Capital, with a value of 3.20%, BXP is in the better half of the industry, outperforming 61.11% of the companies in the same industry.
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 3.12%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.37% | ||
| ROE | 6.3% | ||
| ROIC | 3.2% |
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
Looking at the Profit Margin, with a value of 10.75%, BXP is in line with its industry, outperforming 59.52% of the companies in the same industry.
In the last couple of years the Profit Margin of BXP has declined.
The Operating Margin of BXP (30.30%) is better than 65.08% of its industry peers.
In the last couple of years the Operating Margin of BXP has declined.
With a Gross Margin value of 61.07%, BXP is not doing good in the industry: 69.05% of the companies in the same industry are doing better.
BXP's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 30.3% | ||
| PM (TTM) | 10.75% | ||
| GM | 61.07% |
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
BXP has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for BXP has been increased compared to 1 year ago.
The number of shares outstanding for BXP has been increased compared to 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 0.59, we must say that BXP is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 0.59, BXP perfoms like the industry average, outperforming 49.21% of the companies in the same industry.
BXP has a debt to FCF ratio of 95.82. This is a negative value and a sign of low solvency as BXP would need 95.82 years to pay back of all of its debts.
BXP has a Debt to FCF ratio of 95.82. This is comparable to the rest of the industry: BXP outperforms 50.79% of its industry peers.
BXP has a Debt/Equity ratio of 2.88. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 2.88, BXP is doing worse than 82.54% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.88 | ||
| Debt/FCF | 95.82 | ||
| Altman-Z | 0.59 |
ROIC/WACC0.51
WACC6.33%
2.3 Liquidity
A Current Ratio of 1.91 indicates that BXP should not have too much problems paying its short term obligations.
With a decent Current ratio value of 1.91, BXP is doing good in the industry, outperforming 72.22% of the companies in the same industry.
BXP has a Quick Ratio of 1.91. This is a normal value and indicates that BXP is financially healthy and should not expect problems in meeting its short term obligations.
BXP has a Quick ratio of 1.91. This is in the better half of the industry: BXP outperforms 74.60% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.91 | ||
| Quick Ratio | 1.91 |
3. Growth
3.1 Past
The earnings per share for BXP have decreased strongly by -12.45% 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 4.10%.
BXP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.85% yearly.
EPS 1Y (TTM)-12.45%
EPS 3Y-10.8%
EPS 5Y-7.37%
EPS Q2Q%-7.89%
Revenue 1Y (TTM)4.1%
Revenue growth 3Y5.66%
Revenue growth 5Y2.85%
Sales Q2Q%4.08%
3.2 Future
BXP is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.44% yearly.
Based on estimates for the next years, BXP will show a small growth in Revenue. The Revenue will grow by 2.93% on average per year.
EPS Next Y-21.89%
EPS Next 2Y-6.38%
EPS Next 3Y-3.26%
EPS Next 5Y8.44%
Revenue Next Year1%
Revenue Next 2Y2.12%
Revenue Next 3Y2.51%
Revenue Next 5Y2.93%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 30.92, which means the current valuation is very expensive for BXP.
BXP's Price/Earnings ratio is a bit cheaper when compared to the industry. BXP is cheaper than 60.32% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 30.30, BXP is valued at the same level.
The Price/Forward Earnings ratio is 39.59, which means the current valuation is very expensive for BXP.
Based on the Price/Forward Earnings ratio, BXP is valued a bit cheaper than 68.25% of the companies in the same industry.
BXP is valuated expensively when we compare the Price/Forward Earnings ratio to 23.06, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.92 | ||
| Fwd PE | 39.59 |
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.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of BXP is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 63.56 | ||
| EV/EBITDA | 13.53 |
4.3 Compensation for Growth
A cheap valuation may be justified as BXP's earnings are expected to decrease with -3.26% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-6.38%
EPS Next 3Y-3.26%
5. Dividend
5.1 Amount
BXP has a Yearly Dividend Yield of 5.50%, which is a nice return.
Compared to an average industry Dividend Yield of 18.47, BXP has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.29, BXP pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.5% |
5.2 History
The dividend of BXP has a limited annual growth rate of 2.81%.
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)2.81%
Div Incr Years0
Div Non Decr Years13
5.3 Sustainability
BXP pays out 190.10% of its income as dividend. This is not a sustainable payout ratio.
BXP's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP190.1%
EPS Next 2Y-6.38%
EPS Next 3Y-3.26%
69.57
-0.32 (-0.46%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners103.03%
Inst Owner Change-0.03%
Ins Owners0.2%
Ins Owner Change-1.91%
Market Cap11.00B
Analysts68
Price Target84.53 (21.5%)
Short Float %6.14%
Short Ratio8.24
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.5% |
Yearly Dividend4.38
Dividend Growth(5Y)2.81%
DP190.1%
Div Incr Years0
Div Non Decr Years13
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.77%
Min EPS beat(2)-3.05%
Max EPS beat(2)6.59%
EPS beat(4)3
Avg EPS beat(4)6.82%
Min EPS beat(4)-3.05%
Max EPS beat(4)22.24%
EPS beat(8)5
Avg EPS beat(8)6.03%
EPS beat(12)9
Avg EPS beat(12)41.47%
EPS beat(16)12
Avg EPS beat(16)31.24%
Revenue beat(2)2
Avg Revenue beat(2)2.4%
Min Revenue beat(2)1.93%
Max Revenue beat(2)2.87%
Revenue beat(4)4
Avg Revenue beat(4)2.07%
Min Revenue beat(4)0.71%
Max Revenue beat(4)2.87%
Revenue beat(8)8
Avg Revenue beat(8)1.68%
Revenue beat(12)11
Avg Revenue beat(12)1.68%
Revenue beat(16)14
Avg Revenue beat(16)1.3%
PT rev (1m)-2.43%
PT rev (3m)9.3%
EPS NQ rev (1m)2.32%
EPS NQ rev (3m)-3.12%
EPS NY rev (1m)3.06%
EPS NY rev (3m)-6.9%
Revenue NQ rev (1m)0.51%
Revenue NQ rev (3m)0.42%
Revenue NY rev (1m)-0.61%
Revenue NY rev (3m)-0.15%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.92 | ||
| Fwd PE | 39.59 | ||
| P/S | 3.26 | ||
| P/FCF | 63.56 | ||
| P/OCF | 8.89 | ||
| P/B | 1.91 | ||
| P/tB | 1.91 | ||
| EV/EBITDA | 13.53 |
EPS(TTM)2.25
EY3.23%
EPS(NY)1.76
Fwd EY2.53%
FCF(TTM)1.09
FCFY1.57%
OCF(TTM)7.83
OCFY11.25%
SpS21.36
BVpS36.41
TBVpS36.41
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.37% | ||
| ROE | 6.3% | ||
| ROCE | 4.13% | ||
| ROIC | 3.2% | ||
| ROICexc | 3.39% | ||
| ROICexgc | 3.39% | ||
| OM | 30.3% | ||
| PM (TTM) | 10.75% | ||
| GM | 61.07% | ||
| FCFM | 5.12% |
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-Score7
Asset Turnover0.13
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.88 | ||
| Debt/FCF | 95.82 | ||
| Debt/EBITDA | 8.75 | ||
| Cap/Depr | 121.93% | ||
| Cap/Sales | 31.52% | ||
| Interest Coverage | 1.56 | ||
| Cash Conversion | 65.26% | ||
| Profit Quality | 47.68% | ||
| Current Ratio | 1.91 | ||
| Quick Ratio | 1.91 | ||
| Altman-Z | 0.59 |
F-Score7
WACC6.33%
ROIC/WACC0.51
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-12.45%
EPS 3Y-10.8%
EPS 5Y-7.37%
EPS Q2Q%-7.89%
EPS Next Y-21.89%
EPS Next 2Y-6.38%
EPS Next 3Y-3.26%
EPS Next 5Y8.44%
Revenue 1Y (TTM)4.1%
Revenue growth 3Y5.66%
Revenue growth 5Y2.85%
Sales Q2Q%4.08%
Revenue Next Year1%
Revenue Next 2Y2.12%
Revenue Next 3Y2.51%
Revenue Next 5Y2.93%
EBIT growth 1Y-1.18%
EBIT growth 3Y1.65%
EBIT growth 5Y-0.5%
EBIT Next Year87.01%
EBIT Next 3Y25.89%
EBIT Next 5Y16.24%
FCF growth 1Y-42.56%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-3.62%
OCF growth 3YN/A
OCF growth 5YN/A