What is BXP, Inc. (BXP) DCF Fair Value and Intrinsic Value in 2026?

BXP, Inc. (BXP) intrinsic value is calculated using conservative multi-stage Discounted Cash Flow (DCF) models, 5-year free cash flow trajectories, Graham Numbers, and owner earnings multiples. LocalAlpha tracks real-time margin of safety against live market prices.

What is BXP, Inc.'s historical Return on Invested Capital (ROIC) and Moat Rating?

BXP, Inc. operates in the Real Estate sector (REIT - Office) with an economic moat rating of NONE. LocalAlpha tracks 5-year audited quarterly ROIC, operating margin stability, and balance sheet solvency ratios.

What is BXP, Inc.'s financial health rating and Piotroski F-Score?

BXP, Inc.'s balance sheet quality is evaluated using the 9-point Piotroski F-Score, Altman Z-Score solvency model, debt-to-equity ratio, and quick/current liquidity coverage to guard against financial distress.

How does LocalAlpha monitor BXP, Inc. (BXP) for quarterly SEC filing thesis breaks?

LocalAlpha audits BXP, Inc.'s 10-K, 10-Q, and 8-K regulatory filings on SEC EDGAR within 15 minutes of release. If reported metrics breach an investor's custom ROIC floor, operating margin boundary, or qualitative risk criteria, an autonomous breach audit is dispatched immediately.

StocksBXP

BXP

BXP, Inc.Real Estate / REIT - OfficeINTACT

BXP, Inc. is the largest publicly traded developer, owner, and manager of premier workplaces in the United States. It is concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 55 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of June 30, 2026, including properties owned by joint ventures, BXP's portfolio totals 51.1 million square feet and 164 properties, including six properties under construction/redevelopment. BXP's portfolio consists of 143 office properties, 13 retail properties, seven residential properties (including four residential properties under construction) and one hotel. BXP is well known for its in-house building management expertise and responsiveness to clients' needs. BXP holds a superior track record of developing premium Central Business District (CBD) office buildings, successful mixed-use complexes, suburban office centers and build-to-suit projects for a diverse array of creditworthy clients. BXP actively works to promote its growth and operations in a sustainable and responsible manner. BXP, Inc. was incorporated in 1970 in Delaware and is based in Massachusetts, Boston.

Share Price

$64.85

52W: $49.72 - $79.33

DCF Fair Value

$53.38

-21.5% Premium

Thesis Hub

P/E (TTM)

34.9x

ROIC

21.6%

Operating Margin

28.8%

FCF Yield

7.5%

Debt / Equity

2.12x

Piotroski Score

6/9

Altman Z-Score

1.82

Market Cap

$11.7B

Price vs. Intrinsic Value Corridor

Overvalued vs DCF ($53.38)

Historical market price overlaid against conservative DCF Fair Value & Benjamin Graham Margin of Safety bands.

Period Return (1Y)

—()

Period Range

$— - $—

DCF Fair Value

$53.38

MOS Buy Target (-25%)

$40.04

Valuation Overlays: DCF Fair Value ($53.38) 25% MOS Buy Target ($40.04) Revised Graham ($51.32) Graham Number ($36.78)

2-Stage Discounted Cash Flow (DCF) Workbench

Conservative intrinsic value model based on owner cash generation over a 10-year investment horizon. Opens with LocalAlpha's baseline assumptions (matching the fair value shown above) — adjust any input to stress-test.

Current Market Price

$64.85

DCF Fair Value

$53.04

-22.3% Premium

Starting Free Cash Flow ($M)$881M

$100M$881M (Reported)$50,000M

Stage 1 Growth (Years 1-5)14.4%

-5%10% (Target)35%

Stage 2 Growth (Years 6-10)4.5%

0%5%20%

Discount Rate (WACC / Hurdle)9.0%

6%9% (Standard)15% (High Risk)

Terminal Perpetual Growth2.5%

1% (GDP Floor)2.5% (Inflation)4.0%

Net Debt ($M)$15,900M

-$100B CashBalance Sheet+$150B Debt

10-Yr PV of Cash Flows

$10.1B

PV of Terminal Value

$14.3B

Implied Enterprise Value

$24.4B

Implied Equity Value

$8.5B

Year	Yr 1	Yr 2	Yr 3	Yr 4	Yr 5	Yr 6	Yr 7	Yr 8	Yr 9	Yr 10
Projected FCF ($M)	$1,008	$1,153	$1,319	$1,509	$1,726	$1,804	$1,885	$1,970	$2,059	$2,151
Present Value (PV)	$925	$970	$1,019	$1,069	$1,122	$1,076	$1,031	$989	$948	$909

Benjamin Graham & Buffett Value Models

Classical deep value metrics based on asset backing, normalized earnings power, and owner cash yield.

Graham Number-76.3% Premium

$36.78

Calculated as √(22.5 × EPS × BVPS). The maximum theoretical price a defensive investor should pay based purely on asset book value and current earnings.

EPS: $1.86BVPS: $32.32

Revised Graham Formula-26.4% Premium

$51.32

Formula: V = (EPS × (8.5 + 2g) × 4.4) / Y where g is the conservative 7-10 yr growth rate and Y is AAA Bond Yield.

Growth Rate (g%)

Bond Yield (Y%)

Buffett Owner Earnings8.1% Yield

$5.23 / share

True distributable cash flow: Net Income + D&A - Maintenance CapEx. Reflects the cash Buffett would extract without hurting unit volume.

Total: $0.8BYield: 8.1%

Reverse DCF: Market Growth Expectation

EXTREMELY LOW BARRIER

-1.4% CAGR (Next 10 Yrs)

At the current price of $64.85, the market is assuming the business will compound Free Cash Flow at -1.4% per year for the next decade with a 9% hurdle rate.

Value Investor Verdict

✓ Low market hurdle: Easy for a wide-moat compounder to beat.

Autonomous Thesis Underwriting

Surveil BXP with Mathematical Margin of Safety Rules

Set non-negotiable floor rules for BXP, Inc.. If a newly filed quarterly 10-Q breaks your ROIC floor, operating margin boundary, or balance sheet leverage rules, receive an autonomous breach audit within 15 minutes.

Buffett Quality

ROIC > 15% • Margin > 15% • D/E < 0.5x

Margin Floor Guard

Current Margin 28.8% • Floor > 10%

Solvency Guard

Altman-Z > 2.6 • Current Ratio > 1.5x

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Frequently Asked Questions: BXP, Inc. (BXP) Intrinsic Valuation

Audited fundamentals, DCF intrinsic value sensitivity, and thesis break detection parameters for BXP, Inc..

Based on institutional multi-stage Discounted Cash Flow (DCF) modeling on audited SEC cash flows, BXP, Inc. has an estimated DCF intrinsic fair value of $53.38 per share compared to its current market price of $64.85. This represents an estimated 21.5% premium over fair value. Additionally, its classic Benjamin Graham Number stands at $36.78.