BXP BXP, Inc.
FY2025 10-K
BXP, Inc. (BXP) filed its fiscal year 2025 10-K annual report with the SEC on Feb 27, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Premier workplace office REIT owning/managing ~52.6M sq ft across 179 properties in six U.S. gateway markets (Boston, NY, LA, SF, Seattle, DC)
- • September 2025 Investor Day launched multi-year strategic action plan: raise occupancy, deliver development pipeline, reduce leverage via ~$1.17B in asset sales completed by Feb 2026 (land, residential, non-strategic office dispositions)
Management Discussion & Analysis
- • Total rental revenue $3,329M, up $66M (+2.0%) YoY; same-property rental revenue $3,184M, up $54M (+1.7%)
- • NOI $2,059M vs $2,041M (+0.9%); FFO attributable to BXP $1,089M vs $1,120M (-2.8%) YoY; no operating margin % disclosed
Risk Factors
- • Consolidated Debt ~$15.6B (59.1% of market cap); elevated rates on $2.3B variable-rate debt with only $0.9B hedged via interest rate swaps
- • Key-person dependency on CEO Owen Thomas, President Douglas Linde, and CFO Michael LaBelle — reputational relationships with lenders and JV partners cited as irreplaceable
Financial SummaryXBRL
Revenue
$3.5B
Net Income
$277M
Gross Margin
59.1%
Net Margin
7.9%
ROE
5.4%
Total Assets
$26.2B
EPS (Diluted)
$1.74
Operating Cash Flow
$1.2B
Source: XBRL data from BXP, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
Other BXP, Inc. Annual Reports
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