Projected Income Statement: BXP, Inc.

Forecast Balance Sheet: BXP, Inc.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 12,444 13,504 14,244 14,885 15,052 15,239 15,381 15,646
Change - 8.52% 5.48% 4.5% 1.12% 1.24% 0.93% 1.72%
Announcement Date 1/25/22 1/31/23 1/30/24 1/28/25 1/27/26 - - -
1USD in Million
Estimates

Cash Flow Forecast: BXP, Inc.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 1,151 2,216 1,008 1,135 1,295 1,008 786 688.3
Change - 92.53% -54.5% 12.53% 14.14% -22.18% -22.02% -12.42%
Free Cash Flow (FCF) 1 -17.86 386.4 - 99.81 - - - -
Change - 2,263.58% - - - - - -
Announcement Date 1/25/22 1/31/23 1/30/24 1/28/25 1/27/26 - - -
1USD in Million
Estimates

Forecast Financial Ratios: BXP, Inc.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 58.35% 58.17% 56.98% 55.98% 55.24% 57.01% 57.03% 57.39%
EBIT Margin (%) 33.51% 34.05% 31.6% 29.94% 29.05% 30.21% 30.38% 30.98%
EBT Margin (%) 21.88% 32.83% 8.9% 2.47% 11.03% 12.78% 11.04% 12.58%
Net margin (%) 17.18% 27.31% 5.81% 0.42% 7.95% 9.4% 8.63% 9.83%
FCF margin (%) -0.62% 12.43% - 2.93% - - - -
FCF / Net Income (%) -3.6% 45.52% - 699.34% - - - -

Profitability

        
ROA 1.8% 3.65% 0.76% 1.4% 0.7% 1.19% 1.11% 1.45%
ROE 6.89% 14.19% 3.17% 6.44% 3.48% 6.59% 6.28% 8.68%

Financial Health

        
Leverage (Debt/EBITDA) 7.38x 7.47x 7.64x 7.8x 7.82x 7.69x 7.55x 7.53x
Debt / Free cash flow -696.71x 34.94x - 149.14x - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 39.85% 71.29% 30.8% 33.3% 37.19% 28.99% 22% 19.02%
CAPEX / EBITDA (%) 68.3% 122.56% 54.06% 59.48% 67.32% 50.85% 38.58% 33.15%
CAPEX / FCF (%) -6,444.7% 573.5% - 1,136.85% - - - -

Items per share

        
Cash flow per share 1 7.247 8.161 8.279 7.824 7.838 4.867 5.126 -
Change - 12.62% 1.45% -5.51% 0.18% -37.9% 5.32% -
Dividend per Share 1 3.92 - 3.92 3.92 3.36 2.802 2.855 2.901
Change - - - 0% -14.29% -16.6% 1.89% 1.61%
Book Value Per Share 1 37.37 39.12 37.44 34.22 29.11 29.73 26.62 25.76
Change - 4.69% -4.29% -8.6% -14.93% 2.13% -10.47% -3.23%
EPS 1 3.17 5.4 1.21 0.09 1.74 1.902 1.759 1.997
Change - 70.35% -77.59% -92.56% 1,833.33% 9.3% -7.5% 13.54%
Nbr of stocks (in thousands) 156,207 156,755 156,940 158,111 158,469 159,477 159,477 159,477
Announcement Date 1/25/22 1/31/23 1/30/24 1/28/25 1/27/26 - - -
1USD
Estimates
2026 *2027 *
P/E Ratio 34.8x 37.7x
PBR 2.23x 2.49x
EV / Sales 7.42x 7.26x
Yield 4.23% 4.31%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
-
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
66.23USD
Average target price
69.05USD
Spread / Average Target
+4.26%

Quarterly revenue - Rate of surprise

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