vs
Side-by-side financial comparison of BXP, Inc. (BXP) and EXELIXIS, INC. (EXEL). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($872.1M vs $598.7M, roughly 1.5× EXELIXIS, INC.). EXELIXIS, INC. runs the higher net margin — 40.8% vs 15.3%, a 25.6% gap on every dollar of revenue. On growth, EXELIXIS, INC. posted the faster year-over-year revenue change (5.6% vs 0.8%). Over the past eight quarters, EXELIXIS, INC.'s revenue compounded faster (18.7% 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.
Exelixis, Inc. is a genomics-based drug discovery company located in Alameda, California, and the producer of Cometriq, a treatment approved by the U.S. Food and Drug Administration (FDA) for medullary thyroid cancer with clinical activity in several other types of metastatic cancer.
BXP vs EXEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $598.7M |
| Net Profit | $133.0M | $244.5M |
| Gross Margin | — | 95.6% |
| Operating Margin | — | 39.3% |
| Net Margin | 15.3% | 40.8% |
| Revenue YoY | 0.8% | 5.6% |
| Net Profit YoY | 53.0% | 74.8% |
| EPS (diluted) | $1.69 | $0.89 |
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 | $598.7M | ||
| Q4 25 | $877.1M | $597.8M | ||
| Q3 25 | $871.5M | $568.3M | ||
| Q2 25 | $868.5M | $555.4M | ||
| Q1 25 | $865.2M | $566.8M | ||
| Q4 24 | $858.6M | — | ||
| Q3 24 | $859.2M | $539.5M | ||
| Q2 24 | $850.5M | $637.2M |
| Q1 26 | $133.0M | $244.5M | ||
| Q4 25 | $248.4M | $193.6M | ||
| Q3 25 | $-121.7M | $184.8M | ||
| Q2 25 | $89.0M | $159.6M | ||
| Q1 25 | $61.2M | $139.9M | ||
| Q4 24 | $-228.9M | — | ||
| Q3 24 | $83.6M | $118.0M | ||
| Q2 24 | $79.6M | $226.1M |
| Q1 26 | — | 95.6% | ||
| Q4 25 | 58.8% | 96.9% | ||
| Q3 25 | 59.3% | 96.6% | ||
| Q2 25 | 59.2% | 96.5% | ||
| Q1 25 | 59.2% | 96.5% | ||
| Q4 24 | 59.7% | — | ||
| Q3 24 | 59.5% | 96.8% | ||
| Q2 24 | 59.8% | 97.2% |
| Q1 26 | — | 39.3% | ||
| Q4 25 | — | 39.6% | ||
| Q3 25 | — | 37.6% | ||
| Q2 25 | — | 33.6% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 25.2% | ||
| Q2 24 | — | 43.3% |
| Q1 26 | 15.3% | 40.8% | ||
| Q4 25 | 28.3% | 32.4% | ||
| Q3 25 | -14.0% | 32.5% | ||
| Q2 25 | 10.2% | 28.7% | ||
| Q1 25 | 7.1% | 24.7% | ||
| Q4 24 | -26.7% | — | ||
| Q3 24 | 9.7% | 21.9% | ||
| Q2 24 | 9.4% | 35.5% |
| Q1 26 | $1.69 | $0.89 | ||
| Q4 25 | $1.56 | $0.69 | ||
| Q3 25 | $-0.77 | $0.65 | ||
| Q2 25 | $0.56 | $0.55 | ||
| Q1 25 | $0.39 | $0.47 | ||
| Q4 24 | $-1.46 | — | ||
| Q3 24 | $0.53 | $0.40 | ||
| Q2 24 | $0.51 | $0.77 |
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 | $1.1B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.7B | $2.2B |
| Total Assets | $25.1B | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | $1.1B | ||
| Q4 25 | $1.5B | $988.5M | ||
| Q3 25 | $861.1M | $791.1M | ||
| Q2 25 | $447.0M | $1.0B | ||
| Q1 25 | $398.1M | $1.1B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $685.4M | $1.0B |
| Q1 26 | $7.7B | $2.2B | ||
| Q4 25 | $5.1B | $2.2B | ||
| Q3 25 | $5.0B | $2.0B | ||
| Q2 25 | $5.3B | $2.1B | ||
| Q1 25 | $5.3B | $2.2B | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.8B | $2.3B | ||
| Q2 24 | $5.8B | $2.1B |
| Q1 26 | $25.1B | $2.8B | ||
| Q4 25 | $26.2B | $2.8B | ||
| Q3 25 | $26.0B | $2.7B | ||
| Q2 25 | $25.6B | $2.8B | ||
| Q1 25 | $25.4B | $2.9B | ||
| Q4 24 | $26.1B | — | ||
| Q3 24 | $26.4B | $3.0B | ||
| Q2 24 | $25.5B | $2.8B |
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 | — | $333.5M |
| Free Cash FlowOCF − Capex | — | $332.4M |
| FCF MarginFCF / Revenue | — | 55.5% |
| Capex IntensityCapex / Revenue | 1.5% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 1.36× |
| TTM Free Cash FlowTrailing 4 quarters | — | $875.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $333.5M | ||
| Q4 25 | $407.8M | $290.3M | ||
| Q3 25 | $274.2M | $49.0M | ||
| Q2 25 | $353.1M | $211.4M | ||
| Q1 25 | $210.0M | $240.3M | ||
| Q4 24 | $383.7M | — | ||
| Q3 24 | $286.1M | $271.3M | ||
| Q2 24 | $367.1M | $119.5M |
| Q1 26 | — | $332.4M | ||
| Q4 25 | $362.7M | $288.8M | ||
| Q3 25 | $231.6M | $46.2M | ||
| Q2 25 | $281.5M | $208.5M | ||
| Q1 25 | $152.6M | $236.3M | ||
| Q4 24 | $312.5M | — | ||
| Q3 24 | $234.5M | $263.1M | ||
| Q2 24 | $332.4M | $113.0M |
| Q1 26 | — | 55.5% | ||
| Q4 25 | 41.4% | 48.3% | ||
| Q3 25 | 26.6% | 8.1% | ||
| Q2 25 | 32.4% | 37.5% | ||
| Q1 25 | 17.6% | 41.7% | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 27.3% | 48.8% | ||
| Q2 24 | 39.1% | 17.7% |
| Q1 26 | 1.5% | 0.2% | ||
| Q4 25 | 5.1% | 0.2% | ||
| Q3 25 | 4.9% | 0.5% | ||
| Q2 25 | 8.2% | 0.5% | ||
| Q1 25 | 6.6% | 0.7% | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 6.0% | 1.5% | ||
| Q2 24 | 4.1% | 1.0% |
| Q1 26 | — | 1.36× | ||
| Q4 25 | 1.64× | 1.50× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | 3.97× | 1.32× | ||
| Q1 25 | 3.43× | 1.72× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.42× | 2.30× | ||
| Q2 24 | 4.61× | 0.53× |
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% |
EXEL
| Cabometyx | $544.7M | 91% |
| Collaboration | $52.1M | 9% |
| Collaborative Arrangementwith Takeda | $5.9M | 1% |
| Cometriq | $1.8M | 0% |
