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Screener / SEC EDGAR /CIK 0001037540 /10-K filed Feb 27, 2026, compared with Feb 27, 2025 /Numbers from the XBRL of the 10-Ks
Real estate peers:
INVHCSGPDOCCCIEXRBXP
NYSE Real estate · REIT

BXP, Inc. BXP

BXP quote by TradingView
Headquarters
Boston, MA
CEO
Owen D. Thomas.
Next results
around Jan 27, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $3.5B through the costs to a net profit of $276.8M · income statement of the 10-K

8% net margin
Revenue to Gross profit: $2.1BRevenue to Cost of revenue: $1.4BGross profit to Net profit: $276.8MGross profit to Costs, tax, other: $1.8B Revenue: $3.5B REVENUE $3.5B +2% Y/Y Gross profit: $2.1B · 59% margin GROSS PROFIT $2.1B 59% margin · +1% Y/Y Cost of revenue: $1.4B · 41% of revenue COST OF REVENUE $1.4B 41% of revenue Net profit: $276.8M · 8% margin NET PROFIT $276.8M 8% margin · +1839% Y/Y Costs, tax, other: $1.8B · 51% of revenue COSTS, TAX, OTHER $1.8B 51% of revenue
Gross profit $2.1B 59% margin · +1% Y/Y
Net profit $276.8M 8% margin · +1839% Y/Y
The full income statement, year by year

BXP among Real estate peers

Six ratios from the latest 10-K. Each corner is the share of 28 peers the company is above, not a score.

Compare
Revenue growth: 2.2%, above 18% of 28 peers (their median 5.2%) REVENUE GROWTH 2.2% · above 18% Gross margin: 59.1%, above 50% of 8 peers (their median 60.8%) GROSS MARGIN 59.1% · above 50% Net margin: 8.4%, above 21% of 28 peers (their median 21.8%) NET MARGIN 8.4% · above 21%
BXP Peer median Below the median

What changed

2 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 27, 2026 against Feb 27, 2025.

Risk factors
2 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Material impairment (8-K item 2.06)
8-K item 2.06 (material impairments) filed May 29, 2026: “Consistent with the strategic asset sales plan outlined at BXP, Inc.’s September 2025 Investor Day, on May 27, 2026, a subsidiary of Boston Properties Limited Partnership (“BPLP”) entered into an agreement to sell certain property (the "Property") comprised of (1) the leasehold interest in the real property commonly known as Sumner Square, located at the corner of 17th and M Street, NW in…”
10-K · XBRL
Accounting checks
9 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 9 checks found nothing to note

  • Material impairment (8-K item 2.06)
    8-K item 2.06 (material impairments) filed May 29, 2026: “Consistent with the strategic asset sales plan outlined at BXP, Inc.’s September 2025 Investor Day, on May 27, 2026, a subsidiary of Boston Properties Limited Partnership (“BPLP”) entered into an agreement to sell certain property (the "Property") comprised of (1) the leasehold interest in the real property commonly known as Sumner Square, located at the corner of 17th and M Street, NW in…”
  • Receivables -13.8% vs revenue +2.2% (-16.0 pts)
8 more checks with nothing to note
  • Cash from operations $1.2B vs net income $276.8M (FY ending Dec 31, 2025)
  • Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No longer listed: Purchase Price Allocation for Long-Lived Asset Property Acquisitions. Same as last year: Impairment Indicators Assessment of Investments in Unconsolidated Joint Ventures
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 1.03 in the last 2 years

In their words

2 paragraphs in Risk Factors that were not in the 10-K filed Feb 27, 2025. Quoted as filed.

All 2 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 27, 2025 10-K, ITEM 1A
    •one or more counterparties to our derivative financial instruments could default on their obligations to us, or could fail, increasing the risk that we may not realize the benefits of these instruments. For example, in connection with our offering of 2.00% Exchangeable Senior Notes due 2030 in September 2025, we entered into capped…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 27, 2025 10-K, ITEM 1A
    •the production of incomplete, inaccurate or otherwise flawed outputs, some of which may be difficult to detect, and the reliance on such outputs which could result in adverse consequences to us, including exposure to reputational and competitive harm, customer loss, legal liability, errors in our decision-making, process development or…

New risk paragraphs, against peers

Latest 10-K of each, Real estate companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$3.1B$3.3B$3.4B$3.5B
Net income$848.9M$190.2M$14.3M$276.8M
Operating cash flow$1.3B$1.3B$1.2B$1.2B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$3.5B ▲ 2.2% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

BXP, Inc., Boston, MA · from the 10-K filed Feb 27, 2026

BXP, a Delaware corporation, is a fully integrated, self-administered and self-managed REIT, and it is one of the largest publicly-traded office REITs (based on total market capitalization as of December 31, 2025) in the United States that develops, owns and manages primarily premier workplaces. BXP was formed in 1997 to succeed the real estate development, redevelopment, acquisition, management, operating and leasing businesses associated with the predecessor company founded by Mortimer B. Zuckerman and Edward H. Linde in 1970.

Headquarters
Boston, MA
Country
United States
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 27, 2026
Incorporated in
DE

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Sources

The 10-K filed Feb 27, 2026 (open at SEC), compared with the 10-K filed Feb 27, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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