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Side-by-side financial comparison of BXP, Inc. (BXP) and F5, Inc. (FFIV). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($872.1M vs $811.7M, roughly 1.1× F5, Inc.). F5, Inc. runs the higher net margin — 18.2% vs 15.3%, a 3.0% gap on every dollar of revenue. On growth, F5, Inc. posted the faster year-over-year revenue change (11.0% vs 0.8%). Over the past eight quarters, F5, Inc.'s revenue compounded faster (8.0% 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.
F5, Inc. is an American technology company specializing in application security, multi-cloud management, online fraud prevention, application delivery networking (ADN), application availability and performance, and network security, access, and authorization.
BXP vs FFIV — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $811.7M |
| Net Profit | $133.0M | $148.0M |
| Gross Margin | — | 81.4% |
| Operating Margin | — | 22.1% |
| Net Margin | 15.3% | 18.2% |
| Revenue YoY | 0.8% | 11.0% |
| Net Profit YoY | 53.0% | 1.5% |
| EPS (diluted) | $1.69 | $2.58 |
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 | $811.7M | ||
| Q4 25 | $877.1M | $822.5M | ||
| Q3 25 | $871.5M | $810.1M | ||
| Q2 25 | $868.5M | $780.4M | ||
| Q1 25 | $865.2M | $731.1M | ||
| Q4 24 | $858.6M | $766.5M | ||
| Q3 24 | $859.2M | $746.7M | ||
| Q2 24 | $850.5M | $695.5M |
| Q1 26 | $133.0M | $148.0M | ||
| Q4 25 | $248.4M | $180.1M | ||
| Q3 25 | $-121.7M | $190.5M | ||
| Q2 25 | $89.0M | $189.9M | ||
| Q1 25 | $61.2M | $145.5M | ||
| Q4 24 | $-228.9M | $166.4M | ||
| Q3 24 | $83.6M | $165.3M | ||
| Q2 24 | $79.6M | $144.1M |
| Q1 26 | — | 81.4% | ||
| Q4 25 | 58.8% | 81.5% | ||
| Q3 25 | 59.3% | 82.2% | ||
| Q2 25 | 59.2% | 81.0% | ||
| Q1 25 | 59.2% | 80.7% | ||
| Q4 24 | 59.7% | 81.7% | ||
| Q3 24 | 59.5% | 80.8% | ||
| Q2 24 | 59.8% | 80.4% |
| Q1 26 | — | 22.1% | ||
| Q4 25 | — | 26.0% | ||
| Q3 25 | — | 25.4% | ||
| Q2 25 | — | 25.2% | ||
| Q1 25 | — | 21.7% | ||
| Q4 24 | — | 26.8% | ||
| Q3 24 | — | 25.6% | ||
| Q2 24 | — | 23.4% |
| Q1 26 | 15.3% | 18.2% | ||
| Q4 25 | 28.3% | 21.9% | ||
| Q3 25 | -14.0% | 23.5% | ||
| Q2 25 | 10.2% | 24.3% | ||
| Q1 25 | 7.1% | 19.9% | ||
| Q4 24 | -26.7% | 21.7% | ||
| Q3 24 | 9.7% | 22.1% | ||
| Q2 24 | 9.4% | 20.7% |
| Q1 26 | $1.69 | $2.58 | ||
| Q4 25 | $1.56 | $3.10 | ||
| Q3 25 | $-0.77 | $3.25 | ||
| Q2 25 | $0.56 | $3.25 | ||
| Q1 25 | $0.39 | $2.48 | ||
| Q4 24 | $-1.46 | $2.82 | ||
| Q3 24 | $0.53 | $2.79 | ||
| Q2 24 | $0.51 | $2.44 |
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 | $1.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.7B | $3.6B |
| Total Assets | $25.1B | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | $1.4B | ||
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $861.1M | $1.3B | ||
| Q2 25 | $447.0M | $1.4B | ||
| Q1 25 | $398.1M | $1.3B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $685.4M | $935.6M |
| Q1 26 | $7.7B | $3.6B | ||
| Q4 25 | $5.1B | $3.5B | ||
| Q3 25 | $5.0B | $3.6B | ||
| Q2 25 | $5.3B | $3.5B | ||
| Q1 25 | $5.3B | $3.3B | ||
| Q4 24 | $5.4B | $3.2B | ||
| Q3 24 | $5.8B | $3.1B | ||
| Q2 24 | $5.8B | $3.0B |
| Q1 26 | $25.1B | $6.5B | ||
| Q4 25 | $26.2B | $6.3B | ||
| Q3 25 | $26.0B | $6.3B | ||
| Q2 25 | $25.6B | $6.1B | ||
| Q1 25 | $25.4B | $5.9B | ||
| Q4 24 | $26.1B | $5.9B | ||
| Q3 24 | $26.4B | $5.6B | ||
| Q2 24 | $25.5B | $5.4B |
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 | — | $525.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | — | 3.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $525.1M | ||
| Q4 25 | $407.8M | $159.2M | ||
| Q3 25 | $274.2M | $208.1M | ||
| Q2 25 | $353.1M | $282.2M | ||
| Q1 25 | $210.0M | $256.6M | ||
| Q4 24 | $383.7M | $202.8M | ||
| Q3 24 | $286.1M | $246.5M | ||
| Q2 24 | $367.1M | $159.0M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $149.5M | ||
| Q3 25 | $231.6M | $191.9M | ||
| Q2 25 | $281.5M | $273.7M | ||
| Q1 25 | $152.6M | $246.1M | ||
| Q4 24 | $312.5M | $194.7M | ||
| Q3 24 | $234.5M | $240.4M | ||
| Q2 24 | $332.4M | $153.1M |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 18.2% | ||
| Q3 25 | 26.6% | 23.7% | ||
| Q2 25 | 32.4% | 35.1% | ||
| Q1 25 | 17.6% | 33.7% | ||
| Q4 24 | 36.4% | 25.4% | ||
| Q3 24 | 27.3% | 32.2% | ||
| Q2 24 | 39.1% | 22.0% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 1.2% | ||
| Q3 25 | 4.9% | 2.0% | ||
| Q2 25 | 8.2% | 1.1% | ||
| Q1 25 | 6.6% | 1.4% | ||
| Q4 24 | 8.3% | 1.1% | ||
| Q3 24 | 6.0% | 0.8% | ||
| Q2 24 | 4.1% | 0.8% |
| Q1 26 | — | 3.55× | ||
| Q4 25 | 1.64× | 0.88× | ||
| Q3 25 | — | 1.09× | ||
| Q2 25 | 3.97× | 1.49× | ||
| Q1 25 | 3.43× | 1.76× | ||
| Q4 24 | — | 1.22× | ||
| Q3 24 | 3.42× | 1.49× | ||
| Q2 24 | 4.61× | 1.10× |
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% |
FFIV
Segment breakdown not available.
