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Side-by-side financial comparison of BXP, Inc. (BXP) and FIRST HORIZON CORP (FHN). Click either name above to swap in a different company.
FIRST HORIZON CORP is the larger business by last-quarter revenue ($888.0M vs $872.1M, roughly 1.0× BXP, Inc.). FIRST HORIZON CORP runs the higher net margin — 29.4% vs 15.3%, a 14.1% gap on every dollar of revenue. On growth, FIRST HORIZON CORP posted the faster year-over-year revenue change (21.8% vs 0.8%). Over the past eight quarters, FIRST HORIZON CORP's revenue compounded faster (20.0% 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.
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
BXP vs FHN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $888.0M |
| Net Profit | $133.0M | $261.0M |
| Gross Margin | — | — |
| Operating Margin | — | 38.5% |
| Net Margin | 15.3% | 29.4% |
| Revenue YoY | 0.8% | 21.8% |
| Net Profit YoY | 53.0% | 57.2% |
| EPS (diluted) | $1.69 | $0.51 |
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 | $888.0M | ||
| Q3 25 | $871.5M | $889.0M | ||
| Q2 25 | $868.5M | $830.0M | ||
| Q1 25 | $865.2M | $812.0M | ||
| Q4 24 | $858.6M | $729.0M | ||
| Q3 24 | $859.2M | $827.0M | ||
| Q2 24 | $850.5M | — |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $261.0M | ||
| Q3 25 | $-121.7M | $262.0M | ||
| Q2 25 | $89.0M | $241.0M | ||
| Q1 25 | $61.2M | $218.0M | ||
| Q4 24 | $-228.9M | $166.0M | ||
| Q3 24 | $83.6M | $218.0M | ||
| Q2 24 | $79.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | — | ||
| Q3 25 | 59.3% | — | ||
| Q2 25 | 59.2% | — | ||
| Q1 25 | 59.2% | — | ||
| Q4 24 | 59.7% | — | ||
| Q3 24 | 59.5% | — | ||
| Q2 24 | 59.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 38.5% | ||
| Q3 25 | — | 38.7% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 35.1% | ||
| Q4 24 | — | 28.8% | ||
| Q3 24 | — | 34.0% | ||
| Q2 24 | — | — |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 29.4% | ||
| Q3 25 | -14.0% | 29.5% | ||
| Q2 25 | 10.2% | 29.0% | ||
| Q1 25 | 7.1% | 26.8% | ||
| Q4 24 | -26.7% | 22.8% | ||
| Q3 24 | 9.7% | 26.4% | ||
| Q2 24 | 9.4% | — |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.51 | ||
| Q3 25 | $-0.77 | $0.50 | ||
| Q2 25 | $0.56 | $0.45 | ||
| Q1 25 | $0.39 | $0.41 | ||
| Q4 24 | $-1.46 | $0.29 | ||
| Q3 24 | $0.53 | $0.40 | ||
| Q2 24 | $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 | $512.8M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.7B | $8.8B |
| Total Assets | $25.1B | $83.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $861.1M | — | ||
| Q2 25 | $447.0M | — | ||
| Q1 25 | $398.1M | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $685.4M | — |
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $8.8B | ||
| Q3 25 | $5.0B | $8.9B | ||
| Q2 25 | $5.3B | $9.0B | ||
| Q1 25 | $5.3B | $8.7B | ||
| Q4 24 | $5.4B | $8.8B | ||
| Q3 24 | $5.8B | $9.0B | ||
| Q2 24 | $5.8B | — |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $83.9B | ||
| Q3 25 | $26.0B | $83.2B | ||
| Q2 25 | $25.6B | $82.1B | ||
| Q1 25 | $25.4B | $81.5B | ||
| Q4 24 | $26.1B | $82.2B | ||
| Q3 24 | $26.4B | $82.6B | ||
| Q2 24 | $25.5B | — |
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 | — | $396.0M |
| Free Cash FlowOCF − Capex | — | $389.0M |
| FCF MarginFCF / Revenue | — | 43.8% |
| Capex IntensityCapex / Revenue | 1.5% | 0.8% |
| Cash ConversionOCF / Net Profit | — | 1.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $595.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $396.0M | ||
| Q3 25 | $274.2M | $-200.0M | ||
| Q2 25 | $353.1M | $83.0M | ||
| Q1 25 | $210.0M | $349.0M | ||
| Q4 24 | $383.7M | $191.0M | ||
| Q3 24 | $286.1M | $389.0M | ||
| Q2 24 | $367.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $389.0M | ||
| Q3 25 | $231.6M | $-208.0M | ||
| Q2 25 | $281.5M | $74.0M | ||
| Q1 25 | $152.6M | $340.0M | ||
| Q4 24 | $312.5M | $174.0M | ||
| Q3 24 | $234.5M | $383.0M | ||
| Q2 24 | $332.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 43.8% | ||
| Q3 25 | 26.6% | -23.4% | ||
| Q2 25 | 32.4% | 8.9% | ||
| Q1 25 | 17.6% | 41.9% | ||
| Q4 24 | 36.4% | 23.9% | ||
| Q3 24 | 27.3% | 46.3% | ||
| Q2 24 | 39.1% | — |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 0.8% | ||
| Q3 25 | 4.9% | 0.9% | ||
| Q2 25 | 8.2% | 1.1% | ||
| Q1 25 | 6.6% | 1.1% | ||
| Q4 24 | 8.3% | 2.3% | ||
| Q3 24 | 6.0% | 0.7% | ||
| Q2 24 | 4.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 1.52× | ||
| Q3 25 | — | -0.76× | ||
| Q2 25 | 3.97× | 0.34× | ||
| Q1 25 | 3.43× | 1.60× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | 3.42× | 1.78× | ||
| Q2 24 | 4.61× | — |
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% |
FHN
| Commercial Consumer And Wealth Segment | $776.0M | 87% |
| Other | $88.0M | 10% |
| Corporate | $24.0M | 3% |
