BXP INC (BXP) Stock Fundamental Analysis
NYSE:BXP - New York Stock Exchange, Inc. - US1011211018 - REIT - Currency: USD
Overall BXP gets a fundamental rating of 3 out of 10. We evaluated BXP against 129 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
BXP had positive earnings in the past year.
BXP had a positive operating cash flow in the past year.
BXP had positive earnings in each of the past 5 years.
Each year in the past 5 years BXP had a positive operating cash flow.
1.2 Ratios
With a Return On Assets value of -0.02%, BXP perfoms like the industry average, outperforming 40.31% of the companies in the same industry.
BXP's Return On Equity of -0.08% is in line compared to the rest of the industry. BXP outperforms 40.31% of its industry peers.
BXP has a Return On Invested Capital of 3.33%. This is in the better half of the industry: BXP outperforms 63.57% 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.
Looking at the Operating Margin, with a value of 29.85%, BXP is in the better half of the industry, outperforming 64.34% of the companies in the same industry.
BXP's Operating Margin has declined in the last couple of years.
BXP has a Gross Margin of 60.45%. This is in the lower half of the industry: BXP underperforms 67.44% 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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so 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.
Compared to 1 year ago, BXP has a worse debt to assets ratio.
2.2 Solvency
BXP has an Altman-Z score of 0.54. This is a bad value and indicates that BXP is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of BXP (0.54) is comparable to the rest of the 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.
With a Debt to FCF ratio value of 130.60, BXP perfoms like the industry average, outperforming 57.36% 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.
Looking at the Debt to Equity ratio, with a value of 3.02, BXP is doing worse than 80.62% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.02 | ||
| Debt/FCF | 130.6 | ||
| Altman-Z | 0.54 |
ROIC/WACC0.51
WACC6.49%
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.
BXP's Current ratio of 1.36 is fine compared to the rest of the industry. BXP outperforms 68.22% of its industry peers.
A Quick Ratio of 1.36 indicates that BXP should not have too much problems paying its short term obligations.
BXP's Quick ratio of 1.36 is fine compared to the rest of the industry. BXP outperforms 68.99% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.36 | ||
| Quick Ratio | 1.36 |
3. Growth
3.1 Past
BXP shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -17.05%.
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.
Looking at the last year, BXP shows a small growth in Revenue. The Revenue has grown by 3.73% in the last year.
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
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 33.07 indicates a quite expensive valuation of BXP.
Compared to the rest of the industry, the Price/Earnings ratio of BXP is on the same level as its industry peers.
BXP's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 27.30.
The Price/Forward Earnings ratio is 37.56, which means the current valuation is very expensive for BXP.
BXP's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. BXP is cheaper than 65.12% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.76, BXP is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.07 | ||
| Fwd PE | 37.56 |
4.2 Price Multiples
BXP's Enterprise Value to EBITDA is on the same level as the industry average.
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 | 91.22 | ||
| EV/EBITDA | 13.73 |
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 5.70%, BXP is a good candidate for dividend investing.
BXP's Dividend Yield is comparable with the industry average which is at 6.43.
Compared to an average S&P500 Dividend Yield of 2.37, BXP pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.7% |
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 its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)0.3%
Div Incr Years0
Div Non Decr Years14
5.3 Sustainability
The earnings of BXP are negative and hence is the payout ratio. BXP will probably not be able to sustain this dividend level.
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%
70.77
+0.49 (+0.7%)
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 Change0%
Ins Owners0.19%
Ins Owner Change-0.8%
Market Cap11.20B
Analysts70
Price Target76.8 (8.52%)
Short Float %6.54%
Short Ratio6.25
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.7% |
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)-5.19%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.16%
EPS NY rev (1m)1.42%
EPS NY rev (3m)4.09%
Revenue NQ rev (1m)0.14%
Revenue NQ rev (3m)0.54%
Revenue NY rev (1m)0.23%
Revenue NY rev (3m)0.82%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.07 | ||
| Fwd PE | 37.56 | ||
| P/S | 3.26 | ||
| P/FCF | 91.22 | ||
| P/OCF | 8.99 | ||
| P/B | 2.11 | ||
| P/tB | 2.11 | ||
| EV/EBITDA | 13.73 |
EPS(TTM)2.14
EY3.02%
EPS(NY)1.88
Fwd EY2.66%
FCF(TTM)0.78
FCFY1.1%
OCF(TTM)7.88
OCFY11.13%
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
WACC6.49%
ROIC/WACC0.51
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%