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Side-by-side financial comparison of BXP, Inc. (BXP) and CALERES INC (CAL). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($872.1M vs $790.1M, roughly 1.1× CALERES INC). BXP, Inc. runs the higher net margin — 15.3% vs 0.3%, a 14.9% gap on every dollar of revenue. On growth, CALERES INC posted the faster year-over-year revenue change (6.6% vs 0.8%). Over the past eight quarters, CALERES INC's revenue compounded faster (6.5% CAGR vs 1.3%).
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.
Caleres Inc. is an American footwear company that owns and operates a variety of footwear brands. Its headquarters is located in Clayton, Missouri, a suburb of St. Louis. The company was founded in 1878 as Bryan, Brown & Company in St. Louis, though it underwent several name changes. The Hamilton-Brown Shoe Company was the largest manufacturer of shoes in America in the early 20th century, but it went bankrupt in June 1939.
BXP vs CAL — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $790.1M |
| Net Profit | $133.0M | $2.4M |
| Gross Margin | — | 41.8% |
| Operating Margin | — | 1.5% |
| Net Margin | 15.3% | 0.3% |
| Revenue YoY | 0.8% | 6.6% |
| Net Profit YoY | 53.0% | -94.2% |
| EPS (diluted) | $1.69 | $0.07 |
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 | $872.1M | — | ||
| Q4 25 | $877.1M | $790.1M | ||
| Q3 25 | $871.5M | $658.5M | ||
| Q2 25 | $868.5M | $614.2M | ||
| Q1 25 | $865.2M | $639.2M | ||
| Q4 24 | $858.6M | $740.9M | ||
| Q3 24 | $859.2M | $683.3M | ||
| Q2 24 | $850.5M | $659.2M |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $2.4M | ||
| Q3 25 | $-121.7M | $6.7M | ||
| Q2 25 | $89.0M | $6.9M | ||
| Q1 25 | $61.2M | $4.9M | ||
| Q4 24 | $-228.9M | $41.4M | ||
| Q3 24 | $83.6M | $30.0M | ||
| Q2 24 | $79.6M | $30.9M |
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 41.8% | ||
| Q3 25 | 59.3% | 43.4% | ||
| Q2 25 | 59.2% | 45.4% | ||
| Q1 25 | 59.2% | 43.0% | ||
| Q4 24 | 59.7% | 44.1% | ||
| Q3 24 | 59.5% | 45.5% | ||
| Q2 24 | 59.8% | 46.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 7.7% | ||
| Q3 24 | — | 6.2% | ||
| Q2 24 | — | 6.5% |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 0.3% | ||
| Q3 25 | -14.0% | 1.0% | ||
| Q2 25 | 10.2% | 1.1% | ||
| Q1 25 | 7.1% | 0.8% | ||
| Q4 24 | -26.7% | 5.6% | ||
| Q3 24 | 9.7% | 4.4% | ||
| Q2 24 | 9.4% | 4.7% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.07 | ||
| Q3 25 | $-0.77 | $0.20 | ||
| Q2 25 | $0.56 | $0.21 | ||
| Q1 25 | $0.39 | $0.17 | ||
| Q4 24 | $-1.46 | $1.19 | ||
| Q3 24 | $0.53 | $0.85 | ||
| Q2 24 | $0.51 | $0.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $512.8M | $34.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.7B | $616.8M |
| Total Assets | $25.1B | $2.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $34.0M | ||
| Q3 25 | $861.1M | $191.5M | ||
| Q2 25 | $447.0M | $33.1M | ||
| Q1 25 | $398.1M | $29.6M | ||
| Q4 24 | $1.3B | $33.7M | ||
| Q3 24 | $1.4B | $51.8M | ||
| Q2 24 | $685.4M | $30.7M |
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $616.8M | ||
| Q3 25 | $5.0B | $613.3M | ||
| Q2 25 | $5.3B | $605.2M | ||
| Q1 25 | $5.3B | $599.0M | ||
| Q4 24 | $5.4B | $598.3M | ||
| Q3 24 | $5.8B | $606.1M | ||
| Q2 24 | $5.8B | $570.3M |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $2.1B | ||
| Q3 25 | $26.0B | $2.2B | ||
| Q2 25 | $25.6B | $1.9B | ||
| Q1 25 | $25.4B | $1.9B | ||
| Q4 24 | $26.1B | $2.0B | ||
| Q3 24 | $26.4B | $2.0B | ||
| Q2 24 | $25.5B | $1.9B |
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 | — | $-1.2M |
| Free Cash FlowOCF − Capex | — | $-12.4M |
| FCF MarginFCF / Revenue | — | -1.6% |
| Capex IntensityCapex / Revenue | 1.5% | 1.4% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $14.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $-1.2M | ||
| Q3 25 | $274.2M | $47.3M | ||
| Q2 25 | $353.1M | $-5.7M | ||
| Q1 25 | $210.0M | $28.7M | ||
| Q4 24 | $383.7M | $-39.8M | ||
| Q3 24 | $286.1M | $79.6M | ||
| Q2 24 | $367.1M | $36.1M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $-12.4M | ||
| Q3 25 | $231.6M | $35.0M | ||
| Q2 25 | $281.5M | $-26.2M | ||
| Q1 25 | $152.6M | $18.0M | ||
| Q4 24 | $312.5M | $-57.4M | ||
| Q3 24 | $234.5M | $68.5M | ||
| Q2 24 | $332.4M | $26.3M |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | -1.6% | ||
| Q3 25 | 26.6% | 5.3% | ||
| Q2 25 | 32.4% | -4.3% | ||
| Q1 25 | 17.6% | 2.8% | ||
| Q4 24 | 36.4% | -7.7% | ||
| Q3 24 | 27.3% | 10.0% | ||
| Q2 24 | 39.1% | 4.0% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 1.4% | ||
| Q3 25 | 4.9% | 1.9% | ||
| Q2 25 | 8.2% | 3.3% | ||
| Q1 25 | 6.6% | 1.7% | ||
| Q4 24 | 8.3% | 2.4% | ||
| Q3 24 | 6.0% | 1.6% | ||
| Q2 24 | 4.1% | 1.5% |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | -0.50× | ||
| Q3 25 | — | 7.05× | ||
| Q2 25 | 3.97× | -0.81× | ||
| Q1 25 | 3.43× | 5.82× | ||
| Q4 24 | — | -0.96× | ||
| Q3 24 | 3.42× | 2.66× | ||
| Q2 24 | 4.61× | 1.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BXP
| Lease | $818.2M | 94% |
| Parking and other | $30.8M | 4% |
| Development and management services | $9.2M | 1% |
CAL
| Brand Portfolio | $383.7M | 49% |
| Landed Wholesale | $148.1M | 19% |
| Wholesale E Commerce | $75.0M | 9% |
| Ecommerce | $68.8M | 9% |
| Stuart Weitzman Brand | $45.8M | 6% |
| Landed Wholesale Ecommerce Drop Ship | $30.6M | 4% |
| First Cost Wholesale | $14.9M | 2% |
| Clt Brand Solutions | $10.2M | 1% |
| License And Royalty | $2.1M | 0% |
