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Side-by-side financial comparison of BXP, Inc. (BXP) and Graham Holdings Co (GHC). Click either name above to swap in a different company.
Graham Holdings Co is the larger business by last-quarter revenue ($1.3B vs $872.1M, roughly 1.4× BXP, Inc.). BXP, Inc. runs the higher net margin — 15.3% vs 8.7%, a 6.6% gap on every dollar of revenue. On growth, BXP, Inc. posted the faster year-over-year revenue change (0.8% vs 0.4%). Over the past eight quarters, Graham Holdings Co's revenue compounded faster (4.2% 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.
Graham Holdings Company is a diversified American conglomerate holding company. Headquartered in Arlington County, Virginia, and incorporated in Delaware, it was formerly the owner of The Washington Post newspaper and Newsweek magazine.
BXP vs GHC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $1.3B |
| Net Profit | $133.0M | $108.7M |
| Gross Margin | — | — |
| Operating Margin | — | 3.8% |
| Net Margin | 15.3% | 8.7% |
| Revenue YoY | 0.8% | 0.4% |
| Net Profit YoY | 53.0% | -80.2% |
| EPS (diluted) | $1.69 | $24.76 |
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 | $1.3B | ||
| Q3 25 | $871.5M | $1.3B | ||
| Q2 25 | $868.5M | $1.2B | ||
| Q1 25 | $865.2M | $1.2B | ||
| Q4 24 | $858.6M | $1.2B | ||
| Q3 24 | $859.2M | $1.2B | ||
| Q2 24 | $850.5M | $1.2B |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $108.7M | ||
| Q3 25 | $-121.7M | $122.9M | ||
| Q2 25 | $89.0M | $36.7M | ||
| Q1 25 | $61.2M | $23.9M | ||
| Q4 24 | $-228.9M | $548.8M | ||
| Q3 24 | $83.6M | $72.5M | ||
| Q2 24 | $79.6M | $-21.0M |
| 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 | — | 3.8% | ||
| Q3 25 | — | 5.2% | ||
| Q2 25 | — | 6.0% | ||
| Q1 25 | — | 4.1% | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 2.2% |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 8.7% | ||
| Q3 25 | -14.0% | 9.6% | ||
| Q2 25 | 10.2% | 3.0% | ||
| Q1 25 | 7.1% | 2.0% | ||
| Q4 24 | -26.7% | 44.1% | ||
| Q3 24 | 9.7% | 6.0% | ||
| Q2 24 | 9.4% | -1.8% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $24.76 | ||
| Q3 25 | $-0.77 | $27.91 | ||
| Q2 25 | $0.56 | $8.35 | ||
| Q1 25 | $0.39 | $5.45 | ||
| Q4 24 | $-1.46 | $124.05 | ||
| Q3 24 | $0.53 | $16.42 | ||
| Q2 24 | $0.51 | $-4.79 |
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 | $267.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.7B | $4.8B |
| Total Assets | $25.1B | $8.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $267.0M | ||
| Q3 25 | $861.1M | $190.8M | ||
| Q2 25 | $447.0M | $176.2M | ||
| Q1 25 | $398.1M | $156.7M | ||
| Q4 24 | $1.3B | $260.9M | ||
| Q3 24 | $1.4B | $244.4M | ||
| Q2 24 | $685.4M | $140.7M |
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $4.8B | ||
| Q3 25 | $5.0B | $4.5B | ||
| Q2 25 | $5.3B | $4.4B | ||
| Q1 25 | $5.3B | $4.3B | ||
| Q4 24 | $5.4B | $4.3B | ||
| Q3 24 | $5.8B | $4.0B | ||
| Q2 24 | $5.8B | $4.0B |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $8.4B | ||
| Q3 25 | $26.0B | $7.9B | ||
| Q2 25 | $25.6B | $7.6B | ||
| Q1 25 | $25.4B | $7.6B | ||
| Q4 24 | $26.1B | $7.7B | ||
| Q3 24 | $26.4B | $7.4B | ||
| Q2 24 | $25.5B | $7.2B |
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 | — | $28.3M |
| Free Cash FlowOCF − Capex | — | $5.0M |
| FCF MarginFCF / Revenue | — | 0.4% |
| Capex IntensityCapex / Revenue | 1.5% | 1.9% |
| Cash ConversionOCF / Net Profit | — | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | $275.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $28.3M | ||
| Q3 25 | $274.2M | $178.1M | ||
| Q2 25 | $353.1M | $94.8M | ||
| Q1 25 | $210.0M | $46.0M | ||
| Q4 24 | $383.7M | $116.3M | ||
| Q3 24 | $286.1M | $237.6M | ||
| Q2 24 | $367.1M | $52.0M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $5.0M | ||
| Q3 25 | $231.6M | $161.8M | ||
| Q2 25 | $281.5M | $78.0M | ||
| Q1 25 | $152.6M | $30.5M | ||
| Q4 24 | $312.5M | $91.1M | ||
| Q3 24 | $234.5M | $219.4M | ||
| Q2 24 | $332.4M | $33.7M |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 0.4% | ||
| Q3 25 | 26.6% | 12.6% | ||
| Q2 25 | 32.4% | 6.4% | ||
| Q1 25 | 17.6% | 2.6% | ||
| Q4 24 | 36.4% | 7.3% | ||
| Q3 24 | 27.3% | 18.2% | ||
| Q2 24 | 39.1% | 2.8% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 1.9% | ||
| Q3 25 | 4.9% | 1.3% | ||
| Q2 25 | 8.2% | 1.4% | ||
| Q1 25 | 6.6% | 1.3% | ||
| Q4 24 | 8.3% | 2.0% | ||
| Q3 24 | 6.0% | 1.5% | ||
| Q2 24 | 4.1% | 1.5% |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 0.26× | ||
| Q3 25 | — | 1.45× | ||
| Q2 25 | 3.97× | 2.58× | ||
| Q1 25 | 3.43× | 1.93× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | 3.42× | 3.28× | ||
| 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% |
GHC
| Products | $602.7M | 48% |
| Kaplan International | $251.9M | 20% |
| Manufacturing | $117.8M | 9% |
| Television Broadcasting | $110.5M | 9% |
| Higher Education | $83.8M | 7% |
| Supplemental Education | $74.9M | 6% |
| Related Party | $4.4M | 0% |
