How does BXP (BXP) make money?

BXP (BXP) generates revenue primarily from Parking and Other, which accounted for 58.5% of total revenue in TTM through Q1 2026. The company reported $3.49B in revenue and converted 9.1% of it into net profit, equivalent to roughly $317M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of BXP (BXP)?

BXP (BXP) reported a gross profit margin of 60.2% in TTM through Q1 2026, equivalent to $2.1B in gross profit on $3.49B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of BXP (BXP)?

BXP (BXP) reported an operating profit margin of 35.2% in TTM through Q1 2026, equivalent to $1.23B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of BXP (BXP)?

BXP (BXP) reported a net profit margin of 9.1% in TTM through Q1 2026, equivalent to $317M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is BXP (BXP) profitable?

Yes. BXP (BXP) reported $317M in net income for TTM through Q1 2026, with a net profit margin of 9.1%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does BXP (BXP) spend on capital expenditures?

BXP (BXP) spent $726M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 20.8% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does BXP (BXP) generate?

BXP (BXP) generated $466M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 13.3%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What are the main business segments of BXP (BXP)?

BXP (BXP) reports revenue across 4 reportable product segments, led by Parking and Other at 58.5% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does BXP (BXP) generate most of its revenue?

Boston is the largest geographic market for BXP (BXP), accounting for 37.2% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How BXP Makes Money: 2026 Visual Revenue Map

BXP (BXP) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 7, 2026).

BXP (BXP) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for BXP (BXP), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Parking and Other	$2.04B	58.5%
Hotel	$702M	20.1%
Management Service	$510M	14.6%
Real Estate & Other	$237M	6.8%
Total	$3.49B	100%

Parking and Other$2.04B
Hotel$702M
Management Service$510M
Real Estate & Other$237M
Total$3.49B

BXP (BXP) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for BXP (BXP), TTM through Q1 2026
Region	Revenue (USD)	% of total
Boston	$1.28B	37.2%
NEW YORK	$1.06B	30.8%
San Francisco	$525M	15.3%
DISTRICT OF COLUMBIA	$455M	13.3%
Los Angeles	$69.9M	2%
Seattle	$48.3M	1.4%
Total	$3.44B	100%

Boston
NEW YORK
San Francisco
DISTRICT OF COLUMBIA
Los Angeles
Seattle
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, BXP (BXP) reports revenue across 4 reportable product segments; the largest segment was Parking and Other at 58.5%, followed by Hotel (20.1%) and Management Service (14.6%). Geographically, Boston accounted for 37.2% of revenue, followed by NEW YORK (30.8%) and San Francisco (15.3%).

Frequently asked questions

Data & methodology

BXP (BXP) Key Financials

Charts, filings, and peer comparison for every metric

Income Statement

Balance Sheet

Profitability

Operating Margin35.2%

Cash Flow

Capital Return

Forecast & Valuation

Operations

Employees714.0

Trains Company Knowledge

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation

Overview

BXP Overview

Counters