BOSTON PROPERTIES INC

10-K & 10-Q Filings

Boston Properties, Inc. (BXP) is a self-administered and self-managed real estate investment trust (REIT) and one of the largest publicly-traded office REITs in the US. It was formed in 1997 and focuses on developing, owning, and managing primarily premier workplaces in six dynamic gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP manages Boston Properties Limited Partnership (BPLP), a Delaware limited partnership, through which it conducts its business and owns its assets. As of December 31, 2023, BXP owned or had joint venture interests in a portfolio of 188 commercial real estate properties, totaling approximately 53.3 million net rentable square feet. The company's website is http://www.bxp.com, and its ticker symbol is BXP.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 2023CAGR %YoY %Revenue (+)
$1759.53
1876.27
2135.54
2397.00
2490.82
2550.82
2602.08
2717.08
2960.56
2765.69
2888.62
3108.58
3273.57
5.31%5.31%Cost of Revenue (-)
$620.11
685.48
771.40
864.53
904.34
921.23
962.04
1022.60
44.39
1041.97
1046.64
1151.00
1233.94
5.90%7.21%Gross Profit (+)
$1139.42
1190.78
1364.14
1532.47
1586.48
1629.59
1640.04
1694.47
2916.17
1723.72
1841.99
1957.58
2039.63
4.97%4.19%Selling, General & Administrative (-)
$81.44
82.38
115.33
98.94
96.32
105.23
113.72
121.72
140.78
133.11
151.57
146.38
170.16
6.33%16.25%Depreciation & Amortization (-)
$439.18
453.07
560.64
628.57
639.54
694.40
617.55
645.65
677.76
683.75
717.34
749.77
830.81
5.46%10.81%Non-recurring Operating Expenses (-)
$
11.55
1.78
11.81
24.04
Operating Expenses (-)
$520.63
535.45
687.51
727.51
735.86
742.05
731.26
779.18
1870.53
883.16
750.28
462.04
1004.77
5.63%117.46%Costs & Expenses (Total) (-)
$1140.89
1224.59
1457.42
1595.18
1641.46
1725.04
1693.97
1791.58
1914.92
1860.36
1920.58
2050.06
2239.23
5.78%9.23%Operating Income/Loss (+)
$618.64
651.68
678.12
801.82
849.37
825.78
908.11
925.50
1045.64
905.32
968.04
1058.53
1034.34
4.38%-2.28%Non-operating Income/Expense (+)
$89.32
56.11
472.41
11.94
0.08
76.44
21.19
-16.13
23.47
-74.55
-36.53
-72.94
-233.99
-220.78%Interest Expense (-)
$394.13
413.56
446.88
455.74
432.20
412.85
374.48
378.17
412.72
431.72
423.35
437.14
579.57
3.27%32.58%Earnings before Tax (+)
$313.83
294.22
703.65
358.02
417.25
489.37
554.82
531.20
656.39
399.06
508.17
548.44
220.78
-2.89%-59.74%Income/Loss (Continuing Operations) (+)
$313.83
294.22
703.65
358.02
424.02
569.98
562.48
712.56
652.00
1018.69
631.93
1020.58
291.42
-0.62%-71.45%Income/Loss (Discontinued Operations) (+)
$
1.04
8.02
Profit/Loss (+)
$313.83
332.14
841.44
526.06
799.92
569.98
562.48
712.56
652.00
1018.69
631.93
1020.58
291.42
-0.62%-71.45%Net Income/Loss (NCI) (-)
$41.15
38.34
77.48
82.45
216.81
57.19
100.04
129.72
130.47
145.96
126.74
171.64
101.21
7.79%-41.03%Net Income/Loss (+)
$272.68
289.65
749.81
443.61
583.11
512.78
462.44
582.85
521.53
872.73
505.19
848.95
190.22
-2.96%-77.59%Preferred & Other Distributions (-)
$
8.06
10.50
10.50
10.50
10.50
10.50
10.50
10.50
8.97
Net Income/Loss (Common) (+)
$272.68
289.65
741.75
433.11
572.61
502.29
451.94
572.35
511.03
862.23
496.22
848.95
190.22
-2.96%-77.59%EPS (Basic)
$1.87
1.93
4.87
2.83
3.73
3.27
2.93
3.71
3.31
5.55
3.18
5.41
1.21
-3.56%-77.63%EPS (Diluted)
$1.86
1.92
4.86
2.83
3.72
3.26
2.93
3.70
3.30
5.54
3.17
5.40
1.21
-3.52%-77.59%Weighted Avg Shares (Basic)
145.69
150.12
152.20
153.09
153.47
153.72
154.19
154.43
154.58
155.43
156.12
156.73
156.86
0.62%0.09%Weighted Avg Shares (Diluted)
146.22
150.71
152.52
153.31
153.84
153.98
154.39
154.68
154.88
155.52
156.38
157.14
157.20
0.61%0.04%Cash
$1863.54
1097.16
2422.34
2250.40
797.51
420.09
505.37
639.19
691.89
1719.33
501.16
736.81
1612.57
-1.20%118.86%Receivables
$602.51
667.75
711.07
738.59
852.75
891.69
953.76
1021.52
1151.60
1199.91
1296.93
1357.97
1477.62
7.76%8.81%Securities & Long-term Investments
$10746.49
11959.17
15817.19
15688.74
15555.64
15925.03
16507.01
16752.12
17622.21
17818.81
36197.90
38620.30
20593.46
5.57%-46.68%Property, Plant & Equipment (Net)
$
386.03
383.80
407.28
404.86
324.30
-19.90%Other Assets
$1570.43
1738.24
1211.65
1209.03
1173.56
1614.84
1406.09
1843.64
1433.18
1736.34
2237.94
26791.84
2018.21
2.11%-92.47%Assets (Total)
$14782.97
15462.32
20162.25
19886.77
18379.46
18851.64
19372.23
20256.48
21284.90
22858.19
22365.26
24207.67
26026.15
4.83%7.51%Accounts Payable
$316.14
382.05
867.24
1289.27
792.41
672.76
554.19
531.03
638.28
613.63
585.43
691.96
763.19
7.62%10.29%Debt (Non-current)
$8704.14
8912.37
11341.51
9906.98
9036.51
9796.13
10271.61
11007.76
11811.81
13485.96
13141.03
14489.67
16274.26
5.35%12.32%Other Liabilities
$293.52
533.05
758.97
682.25
663.60
450.82
443.98
503.73
812.22
412.08
596.00
655.60
796.34
8.67%21.47%Liabilities (Total)
$9313.80
9827.47
12967.71
11878.51
10492.53
10919.72
11269.78
12042.51
13262.30
14511.68
14322.46
15837.24
17833.78
5.56%12.61%Treasury Stock
$2.72
2.72
2.72
2.72
2.72
2.72
2.72
2.72
2.72
2.72
2.72
2.72
2.72
0.00%0.00%Retained Earnings
$-53.08
-109.98
-108.55
-762.46
-780.95
-693.69
-712.34
-675.53
-760.52
-509.65
-625.89
-391.36
-816.15
-108.54%AOCI
$-16.14
-13.82
-11.56
-9.30
-14.11
-52.25
-50.43
-47.74
-48.34
-49.89
-36.66
-13.72
-21.15
-54.16%Shareholder's Equity
$5413.52
5634.85
7043.62
7902.94
7886.93
7931.92
8102.46
8213.97
8014.24
8339.61
8033.23
8363.82
8183.98
3.50%-2.15%Liabilities & Equity
$14782.97
15462.32
20162.25
19886.77
18379.46
18851.64
19372.23
20256.48
21284.90
22858.19
22365.26
24207.67
26026.15
4.83%7.51%Net Income/Loss
$313.83
332.14
841.44
526.06
799.92
569.98
562.48
712.56
652.00
1018.69
631.93
1020.58
291.42
-0.62%-71.45%Depreciation & Amortization
$439.18
454.04
565.40
628.57
639.54
694.40
617.55
645.65
677.76
683.75
717.34
752.20
830.81
5.46%10.45%Increase/Decrease in Working Capital
$181.61
27.84
7.11
120.50
185.34
74.02
237.33
77.53
173.66
12.87
122.54
-58.60
-143.25
-144.46%Share-based Compensation
$29.67
29.68
45.16
28.10
29.18
32.91
35.36
40.12
40.96
44.14
50.86
52.03
51.48
4.70%-1.05%Adjustments to Reconcile Net Income
$292.50
310.81
-63.51
169.50
-0.51
466.90
344.96
437.68
529.17
138.15
501.30
261.81
1010.10
10.88%285.81%Net Cash (Operating)
$606.33
642.95
777.93
695.55
799.41
1036.87
907.45
1150.24
1181.16
1156.84
1133.23
1282.40
1301.52
6.57%1.49%Capital Expenditure
$51.61
840.65
291.39
543.65
126.44
1249.08
955.85
1230.28
963.04
953.05
967.50
2268.51
903.19
26.94%-60.19%Net Cash (Investing)
$-90.10
-1278.03
-532.64
-665.12
-280.23
-1329.06
-897.81
-1098.88
-1015.09
-613.72
-1039.96
-1602.80
-1193.68
25.53%Increase/Decrease in Debt
$729.90
12.22
720.97
-1290.30
-54.80
662.18
627.24
731.91
802.70
1230.96
-132.66
1334.56
2777.73
11.78%108.14%Increase/Decrease in Equity
$-6.30
-8.24
178.09
1.89
-0.71
-16.39
-50.46
-9.09
0.50
-7.14
19.64
-8.81
-19.05
-116.17%Interest Expenses
$386.17
480.87
547.97
646.52
481.83
433.59
598.49
416.02
439.06
433.49
465.44
449.90
553.99
3.05%23.14%Dividends Paid
$334.60
372.90
451.12
840.26
1226.20
671.63
526.58
587.63
666.29
688.90
683.75
685.02
687.81
6.19%0.41%Net Cash (Financing)
$828.03
-146.15
1077.87
-632.49
-1558.55
-74.62
68.22
82.45
-113.38
484.32
-1311.44
556.06
767.92
-0.63%38.10%Increase/Decrease in Cash
$1344.26
-781.23
1323.16
-602.06
-1039.36
-366.80
77.85
133.82
52.70
1027.44
-1218.17
235.65
875.75
-3.51%271.63%Cash (Beginning)
$478.95
1823.21
1041.98
2365.14
1763.08
723.72
356.91
940.14
1182.55
1336.84
3388.07
953.85
1427.14
9.53%49.62%Cash (Ending)
$1823.21
1041.98
2365.14
1763.08
723.72
356.91
434.77
1182.55
1336.84
3388.07
953.85
1427.14
3144.04
4.65%120.30%NOPAT
$618.64
651.68
678.12
801.82
849.37
825.78
908.11
925.50
1045.64
905.32
968.04
1058.53
1034.34
4.38%-2.28%Gross Margin %
64.76%
63.47%
63.88%
63.93%
63.69%
63.88%
63.03%
62.36%
98.50%
62.33%
63.77%
62.97%
62.31%
Operating Margin %
35.16%
34.73%
31.75%
33.45%
34.10%
32.37%
34.90%
34.06%
35.32%
32.73%
33.51%
34.05%
31.60%
NOPAT Margin %
35.16%
34.73%
31.75%
33.45%
34.10%
32.37%
34.90%
34.06%
35.32%
32.73%
33.51%
34.05%
31.60%
Net Margin %
15.50%
15.44%
35.11%
18.51%
23.41%
20.10%
17.77%
21.45%
17.62%
31.56%
17.49%
27.31%
5.81%
ROA
4.18%
4.21%
3.36%
4.03%
4.62%
4.38%
4.69%
4.57%
4.91%
3.96%
4.33%
4.37%
3.97%
ROE
11.43%
11.57%
9.63%
10.15%
10.77%
10.41%
11.21%
11.27%
13.05%
10.86%
12.05%
12.66%
12.64%
Equity Multiplier
2.73
2.74
2.86
2.52
2.33
2.38
2.39
2.47
2.66
2.74
2.78
2.89
3.18
Debt/Equity Ratio
1.61
1.58
1.61
1.25
1.15
1.24
1.27
1.34
1.47
1.62
1.64
1.73
1.99
Dividend Payout Ratio %
54.09%
57.22%
66.52%
104.79%
144.37%
81.33%
57.99%
63.49%
63.72%
76.09%
70.63%
64.71%
66.50%
Total Payout
$-2.82
849.79
100.02
2775.18
1763.54
459.43
548.29
280.83
302.16
-101.42
1262.21
-190.82
-1516.88
-694.91%Payout Ratio %
-0.46%
130.40%
14.75%
346.11%
207.63%
55.64%
60.38%
30.34%
28.90%
-11.20%
130.39%
-18.03%
-146.65%