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Side-by-side financial comparison of TopBuild Corp (BLD) and BXP, Inc. (BXP). Click either name above to swap in a different company.
TopBuild Corp is the larger business by last-quarter revenue ($1.4B vs $872.1M, roughly 1.7× BXP, Inc.). BXP, Inc. runs the higher net margin — 15.3% vs 7.2%, a 8.0% gap on every dollar of revenue. On growth, TopBuild Corp posted the faster year-over-year revenue change (17.2% vs 0.8%). Over the past eight quarters, TopBuild Corp's revenue compounded faster (2.9% CAGR vs 1.3%).
HashiCorp, Inc. is an American software company with a freemium business model based in San Francisco, California. HashiCorp provides tools and products that enable developers, operators and security professionals to provision, secure, run and connect cloud-computing infrastructure. It was founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company name HashiCorp is a portmanteau of co-founder last name Hashimoto and Corporation.
BXP Inc., operating as Boston Properties, is a leading U.S. real estate investment trust focused on owning, managing and developing high-quality Class A commercial office properties across major U.S. metro markets, serving diverse corporate, tech and professional service tenants.
BLD vs BXP — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $872.1M |
| Net Profit | $104.8M | $133.0M |
| Gross Margin | 27.7% | — |
| Operating Margin | 12.1% | — |
| Net Margin | 7.2% | 15.3% |
| Revenue YoY | 17.2% | 0.8% |
| Net Profit YoY | -15.1% | 53.0% |
| EPS (diluted) | $3.73 | $1.69 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.4B | $872.1M | ||
| Q4 25 | $1.5B | $877.1M | ||
| Q3 25 | $1.4B | $871.5M | ||
| Q2 25 | $1.3B | $868.5M | ||
| Q1 25 | $1.2B | $865.2M | ||
| Q4 24 | $1.3B | $858.6M | ||
| Q3 24 | $1.4B | $859.2M | ||
| Q2 24 | $1.4B | $850.5M |
| Q1 26 | $104.8M | $133.0M | ||
| Q4 25 | $104.5M | $248.4M | ||
| Q3 25 | $142.2M | $-121.7M | ||
| Q2 25 | $151.6M | $89.0M | ||
| Q1 25 | $123.4M | $61.2M | ||
| Q4 24 | $150.5M | $-228.9M | ||
| Q3 24 | $169.0M | $83.6M | ||
| Q2 24 | $150.7M | $79.6M |
| Q1 26 | 27.7% | — | ||
| Q4 25 | 27.2% | 58.8% | ||
| Q3 25 | 30.1% | 59.3% | ||
| Q2 25 | 30.4% | 59.2% | ||
| Q1 25 | 28.5% | 59.2% | ||
| Q4 24 | 29.9% | 59.7% | ||
| Q3 24 | 30.7% | 59.5% | ||
| Q2 24 | 31.0% | 59.8% |
| Q1 26 | 12.1% | — | ||
| Q4 25 | 12.1% | — | ||
| Q3 25 | 15.4% | — | ||
| Q2 25 | 16.9% | — | ||
| Q1 25 | 14.4% | — | ||
| Q4 24 | 16.6% | — | ||
| Q3 24 | 17.8% | — | ||
| Q2 24 | 15.4% | — |
| Q1 26 | 7.2% | 15.3% | ||
| Q4 25 | 7.0% | 28.3% | ||
| Q3 25 | 10.2% | -14.0% | ||
| Q2 25 | 11.7% | 10.2% | ||
| Q1 25 | 10.0% | 7.1% | ||
| Q4 24 | 11.5% | -26.7% | ||
| Q3 24 | 12.3% | 9.7% | ||
| Q2 24 | 11.0% | 9.4% |
| Q1 26 | $3.73 | $1.69 | ||
| Q4 25 | $3.69 | $1.56 | ||
| Q3 25 | $5.04 | $-0.77 | ||
| Q2 25 | $5.32 | $0.56 | ||
| Q1 25 | $4.23 | $0.39 | ||
| Q4 24 | $5.07 | $-1.46 | ||
| Q3 24 | $5.65 | $0.53 | ||
| Q2 24 | $4.78 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $268.8M | $512.8M |
| Total DebtLower is stronger | $2.8B | — |
| Stockholders' EquityBook value | $2.4B | $7.7B |
| Total Assets | $6.7B | $25.1B |
| Debt / EquityLower = less leverage | 1.18× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $268.8M | $512.8M | ||
| Q4 25 | $184.7M | $1.5B | ||
| Q3 25 | $1.1B | $861.1M | ||
| Q2 25 | $842.5M | $447.0M | ||
| Q1 25 | $308.8M | $398.1M | ||
| Q4 24 | $400.3M | $1.3B | ||
| Q3 24 | $257.3M | $1.4B | ||
| Q2 24 | $463.2M | $685.4M |
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — |
| Q1 26 | $2.4B | $7.7B | ||
| Q4 25 | $2.3B | $5.1B | ||
| Q3 25 | $2.2B | $5.0B | ||
| Q2 25 | $2.1B | $5.3B | ||
| Q1 25 | $2.1B | $5.3B | ||
| Q4 24 | $2.2B | $5.4B | ||
| Q3 24 | $2.1B | $5.8B | ||
| Q2 24 | $2.4B | $5.8B |
| Q1 26 | $6.7B | $25.1B | ||
| Q4 25 | $6.6B | $26.2B | ||
| Q3 25 | $6.4B | $26.0B | ||
| Q2 25 | $5.1B | $25.6B | ||
| Q1 25 | $4.6B | $25.4B | ||
| Q4 24 | $4.7B | $26.1B | ||
| Q3 24 | $4.7B | $26.4B | ||
| Q2 24 | $4.9B | $25.5B |
| Q1 26 | 1.18× | — | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.62× | — | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.59× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $160.7M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | 1.53× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $160.7M | — | ||
| Q4 25 | $176.7M | $407.8M | ||
| Q3 25 | $233.3M | $274.2M | ||
| Q2 25 | $193.7M | $353.1M | ||
| Q1 25 | $152.6M | $210.0M | ||
| Q4 24 | $266.2M | $383.7M | ||
| Q3 24 | $240.7M | $286.1M | ||
| Q2 24 | $90.4M | $367.1M |
| Q1 26 | — | — | ||
| Q4 25 | $159.4M | $362.7M | ||
| Q3 25 | $216.2M | $231.6M | ||
| Q2 25 | $182.2M | $281.5M | ||
| Q1 25 | $139.2M | $152.6M | ||
| Q4 24 | $253.7M | $312.5M | ||
| Q3 24 | $219.8M | $234.5M | ||
| Q2 24 | $74.3M | $332.4M |
| Q1 26 | — | — | ||
| Q4 25 | 10.7% | 41.4% | ||
| Q3 25 | 15.5% | 26.6% | ||
| Q2 25 | 14.0% | 32.4% | ||
| Q1 25 | 11.3% | 17.6% | ||
| Q4 24 | 19.3% | 36.4% | ||
| Q3 24 | 16.0% | 27.3% | ||
| Q2 24 | 5.4% | 39.1% |
| Q1 26 | — | 1.5% | ||
| Q4 25 | 1.2% | 5.1% | ||
| Q3 25 | 1.2% | 4.9% | ||
| Q2 25 | 0.9% | 8.2% | ||
| Q1 25 | 1.1% | 6.6% | ||
| Q4 24 | 1.0% | 8.3% | ||
| Q3 24 | 1.5% | 6.0% | ||
| Q2 24 | 1.2% | 4.1% |
| Q1 26 | 1.53× | — | ||
| Q4 25 | 1.69× | 1.64× | ||
| Q3 25 | 1.64× | — | ||
| Q2 25 | 1.28× | 3.97× | ||
| Q1 25 | 1.24× | 3.43× | ||
| Q4 24 | 1.77× | — | ||
| Q3 24 | 1.42× | 3.42× | ||
| Q2 24 | 0.60× | 4.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLD
| Installation Services | $651.1M | 45% |
| Specialty Distribution | $562.9M | 39% |
| Other | $231.8M | 16% |
BXP
| Lease | $818.2M | 94% |
| Parking and other | $30.8M | 4% |
| Development and management services | $9.2M | 1% |
