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Side-by-side financial comparison of BXP, Inc. (BXP) and NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($877.1M vs $205.6K, roughly 4266.3× NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP). BXP, Inc. runs the higher net margin — 28.3% vs -677.3%, a 705.6% gap on every dollar of revenue. On growth, NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP posted the faster year-over-year revenue change (8.4% vs 2.2%). Over the past eight quarters, NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP's revenue compounded faster (6.0% CAGR vs 2.2%).
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.
New England Realty Associates Limited Partnership is a real estate investment entity that owns, operates and manages residential and commercial properties primarily across the U.S. New England region. Its core assets include multifamily apartments, mixed-use properties and small commercial spaces, serving tenants across Massachusetts, New Hampshire and adjacent states, delivering steady returns to unitholders via rental income and property value growth.
BXP vs NEN — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $877.1M | $205.6K |
| Net Profit | $248.4M | $-1.4M |
| Gross Margin | 58.8% | — |
| Operating Margin | — | — |
| Net Margin | 28.3% | -677.3% |
| Revenue YoY | 2.2% | 8.4% |
| Net Profit YoY | 208.5% | -133.0% |
| EPS (diluted) | $1.56 | — |
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.
| Q4 25 | $877.1M | $205.6K | ||
| Q3 25 | $871.5M | $195.4K | ||
| Q2 25 | $868.5M | $202.1K | ||
| Q1 25 | $865.2M | $192.8K | ||
| Q4 24 | $858.6M | $189.7K | ||
| Q3 24 | $859.2M | $187.9K | ||
| Q2 24 | $850.5M | $209.0K | ||
| Q1 24 | $839.4M | $183.0K |
| Q4 25 | $248.4M | $-1.4M | ||
| Q3 25 | $-121.7M | $-521.8K | ||
| Q2 25 | $89.0M | $4.1M | ||
| Q1 25 | $61.2M | $3.8M | ||
| Q4 24 | $-228.9M | $4.2M | ||
| Q3 24 | $83.6M | $3.9M | ||
| Q2 24 | $79.6M | $4.1M | ||
| Q1 24 | $79.9M | $3.5M |
| 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 24 | 60.6% | — |
| Q4 25 | 28.3% | -677.3% | ||
| Q3 25 | -14.0% | -267.1% | ||
| Q2 25 | 10.2% | 2053.2% | ||
| Q1 25 | 7.1% | 1969.0% | ||
| Q4 24 | -26.7% | 2222.3% | ||
| Q3 24 | 9.7% | 2080.6% | ||
| Q2 24 | 9.4% | 1948.6% | ||
| Q1 24 | 9.5% | 1893.0% |
| Q4 25 | $1.56 | — | ||
| Q3 25 | $-0.77 | — | ||
| Q2 25 | $0.56 | — | ||
| Q1 25 | $0.39 | — | ||
| Q4 24 | $-1.46 | — | ||
| Q3 24 | $0.53 | — | ||
| Q2 24 | $0.51 | — | ||
| Q1 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 | $1.5B | $26.7M |
| Total DebtLower is stronger | — | $531.0M |
| Stockholders' EquityBook value | $5.1B | — |
| Total Assets | $26.2B | $505.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $26.7M | ||
| Q3 25 | $861.1M | $13.4M | ||
| Q2 25 | $447.0M | $16.7M | ||
| Q1 25 | $398.1M | $30.9M | ||
| Q4 24 | $1.3B | $17.6M | ||
| Q3 24 | $1.4B | $15.1M | ||
| Q2 24 | $685.4M | $13.5M | ||
| Q1 24 | $701.7M | $28.8M |
| Q4 25 | — | $531.0M | ||
| Q3 25 | — | $514.2M | ||
| Q2 25 | — | $514.3M | ||
| Q1 25 | — | $407.8M | ||
| Q4 24 | — | $408.6M | ||
| Q3 24 | — | $409.3M | ||
| Q2 24 | — | $410.0M | ||
| Q1 24 | — | $410.7M |
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.3B | — | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.8B | — | ||
| Q2 24 | $5.8B | — | ||
| Q1 24 | $5.9B | — |
| Q4 25 | $26.2B | $505.3M | ||
| Q3 25 | $26.0B | $492.9M | ||
| Q2 25 | $25.6B | $494.8M | ||
| Q1 25 | $25.4B | $385.2M | ||
| Q4 24 | $26.1B | $393.5M | ||
| Q3 24 | $26.4B | $387.4M | ||
| Q2 24 | $25.5B | $383.7M | ||
| Q1 24 | $25.5B | $381.2M |
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 | $407.8M | $7.3M |
| Free Cash FlowOCF − Capex | $362.7M | — |
| FCF MarginFCF / Revenue | 41.4% | — |
| Capex IntensityCapex / Revenue | 5.1% | — |
| Cash ConversionOCF / Net Profit | 1.64× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $407.8M | $7.3M | ||
| Q3 25 | $274.2M | $2.3M | ||
| Q2 25 | $353.1M | $12.5M | ||
| Q1 25 | $210.0M | $5.5M | ||
| Q4 24 | $383.7M | $12.0M | ||
| Q3 24 | $286.1M | $8.5M | ||
| Q2 24 | $367.1M | $5.4M | ||
| Q1 24 | $197.6M | $6.1M |
| Q4 25 | $362.7M | — | ||
| Q3 25 | $231.6M | — | ||
| Q2 25 | $281.5M | — | ||
| Q1 25 | $152.6M | — | ||
| Q4 24 | $312.5M | — | ||
| Q3 24 | $234.5M | — | ||
| Q2 24 | $332.4M | — | ||
| Q1 24 | $165.5M | — |
| Q4 25 | 41.4% | — | ||
| Q3 25 | 26.6% | — | ||
| Q2 25 | 32.4% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 27.3% | — | ||
| Q2 24 | 39.1% | — | ||
| Q1 24 | 19.7% | — |
| Q4 25 | 5.1% | — | ||
| Q3 25 | 4.9% | — | ||
| Q2 25 | 8.2% | — | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 4.1% | — | ||
| Q1 24 | 3.8% | — |
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.97× | 3.02× | ||
| Q1 25 | 3.43× | 1.44× | ||
| Q4 24 | — | 2.84× | ||
| Q3 24 | 3.42× | 2.17× | ||
| Q2 24 | 4.61× | 1.32× | ||
| Q1 24 | 2.47× | 1.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
