What is BXP, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on BXP, Inc.'s reported free cash flow gives $118.01 per share. The share price was $63.40 on September 25, 2026, 46% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -0.5% | 10.0% | $74.20 | +17% |
| Base | 4.5% | 9.0% | $118.01 | +86% |
| Bull | 9.5% | 8.0% | $203.34 | +221% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $149.22 | $158.70 | $170.28 | $184.76 | $203.37 |
| 8.0% | $125.97 | $132.12 | $139.38 | $148.09 | $158.75 |
| 9.0% | $108.96 | $113.16 | $118.01 | $123.67 | $130.35 |
| 10.0% | $95.99 | $98.97 | $102.36 | $106.23 | $110.70 |
| 11.0% | $85.77 | $87.96 | $90.41 | $93.16 | $96.29 |
Where the presets come from
Base: years 1 to 5 grow at BXP, Inc.'s revenue growth rate over the last 5 fiscal years (4.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions