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Side-by-side financial comparison of BXP, Inc. (BXP) and OPEN TEXT CORP (OTEX). Click either name above to swap in a different company.
OPEN TEXT CORP is the larger business by last-quarter revenue ($1.3B vs $872.1M, roughly 1.5× BXP, Inc.). BXP, Inc. runs the higher net margin — 15.3% vs 12.7%, a 2.6% gap on every dollar of revenue. On growth, BXP, Inc. posted the faster year-over-year revenue change (0.8% vs -0.6%). Over the past eight quarters, BXP, Inc.'s revenue compounded faster (1.3% CAGR vs -4.3%).
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.
Open Text Corporation is a global software company that develops and sells information management software.
BXP vs OTEX — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $1.3B |
| Net Profit | $133.0M | $168.1M |
| Gross Margin | — | 74.0% |
| Operating Margin | — | 22.0% |
| Net Margin | 15.3% | 12.7% |
| Revenue YoY | 0.8% | -0.6% |
| Net Profit YoY | 53.0% | -26.9% |
| EPS (diluted) | $1.69 | $0.66 |
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 | $1.3B | ||
| Q1 25 | $865.2M | $1.3B | ||
| Q4 24 | $858.6M | $1.3B | ||
| Q3 24 | $859.2M | $1.3B | ||
| Q2 24 | $850.5M | $1.4B |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $168.1M | ||
| Q3 25 | $-121.7M | $146.6M | ||
| Q2 25 | $89.0M | $28.8M | ||
| Q1 25 | $61.2M | $92.8M | ||
| Q4 24 | $-228.9M | $229.9M | ||
| Q3 24 | $83.6M | $84.4M | ||
| Q2 24 | $79.6M | $248.2M |
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 74.0% | ||
| Q3 25 | 59.3% | 72.8% | ||
| Q2 25 | 59.2% | 72.3% | ||
| Q1 25 | 59.2% | 71.6% | ||
| Q4 24 | 59.7% | 73.3% | ||
| Q3 24 | 59.5% | 71.7% | ||
| Q2 24 | 59.8% | 72.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 22.0% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 13.9% | ||
| Q1 25 | — | 16.7% | ||
| Q4 24 | — | 22.2% | ||
| Q3 24 | — | 16.3% | ||
| Q2 24 | — | 14.2% |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 12.7% | ||
| Q3 25 | -14.0% | 11.4% | ||
| Q2 25 | 10.2% | 2.2% | ||
| Q1 25 | 7.1% | 7.4% | ||
| Q4 24 | -26.7% | 17.2% | ||
| Q3 24 | 9.7% | 6.6% | ||
| Q2 24 | 9.4% | 18.2% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.66 | ||
| Q3 25 | $-0.77 | $0.58 | ||
| Q2 25 | $0.56 | $0.11 | ||
| Q1 25 | $0.39 | $0.35 | ||
| Q4 24 | $-1.46 | $0.87 | ||
| Q3 24 | $0.53 | $0.32 | ||
| Q2 24 | $0.51 | $0.91 |
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 | $1.3B |
| Total DebtLower is stronger | — | $6.4B |
| Stockholders' EquityBook value | $7.7B | $4.0B |
| Total Assets | $25.1B | $13.6B |
| Debt / EquityLower = less leverage | — | 1.58× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $1.3B | ||
| Q3 25 | $861.1M | $1.1B | ||
| Q2 25 | $447.0M | $1.2B | ||
| Q1 25 | $398.1M | $1.3B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $685.4M | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | $6.4B | ||
| Q3 25 | — | $6.4B | ||
| Q2 25 | — | $6.4B | ||
| Q1 25 | — | $6.4B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.4B |
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $4.0B | ||
| Q3 25 | $5.0B | $4.0B | ||
| Q2 25 | $5.3B | $3.9B | ||
| Q1 25 | $5.3B | $4.1B | ||
| Q4 24 | $5.4B | $4.2B | ||
| Q3 24 | $5.8B | $4.1B | ||
| Q2 24 | $5.8B | $4.2B |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $13.6B | ||
| Q3 25 | $26.0B | $13.5B | ||
| Q2 25 | $25.6B | $13.8B | ||
| Q1 25 | $25.4B | $13.8B | ||
| Q4 24 | $26.1B | $13.7B | ||
| Q3 24 | $26.4B | $13.8B | ||
| Q2 24 | $25.5B | $14.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.58× | ||
| Q3 25 | — | 1.61× | ||
| Q2 25 | — | 1.62× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | — | 1.55× | ||
| Q2 24 | — | 1.52× |
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 | — | $318.7M |
| Free Cash FlowOCF − Capex | — | $279.4M |
| FCF MarginFCF / Revenue | — | 21.1% |
| Capex IntensityCapex / Revenue | 1.5% | 3.0% |
| Cash ConversionOCF / Net Profit | — | 1.90× |
| TTM Free Cash FlowTrailing 4 quarters | — | $878.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $318.7M | ||
| Q3 25 | $274.2M | $147.8M | ||
| Q2 25 | $353.1M | $158.2M | ||
| Q1 25 | $210.0M | $402.2M | ||
| Q4 24 | $383.7M | $348.0M | ||
| Q3 24 | $286.1M | $-77.8M | ||
| Q2 24 | $367.1M | $185.2M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $279.4M | ||
| Q3 25 | $231.6M | $101.2M | ||
| Q2 25 | $281.5M | $124.0M | ||
| Q1 25 | $152.6M | $373.8M | ||
| Q4 24 | $312.5M | $306.7M | ||
| Q3 24 | $234.5M | $-117.1M | ||
| Q2 24 | $332.4M | $145.2M |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 21.1% | ||
| Q3 25 | 26.6% | 7.9% | ||
| Q2 25 | 32.4% | 9.5% | ||
| Q1 25 | 17.6% | 29.8% | ||
| Q4 24 | 36.4% | 23.0% | ||
| Q3 24 | 27.3% | -9.2% | ||
| Q2 24 | 39.1% | 10.7% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 3.0% | ||
| Q3 25 | 4.9% | 3.6% | ||
| Q2 25 | 8.2% | 2.6% | ||
| Q1 25 | 6.6% | 2.3% | ||
| Q4 24 | 8.3% | 3.1% | ||
| Q3 24 | 6.0% | 3.1% | ||
| Q2 24 | 4.1% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 1.90× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | 3.97× | 5.49× | ||
| Q1 25 | 3.43× | 4.33× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | 3.42× | -0.92× | ||
| Q2 24 | 4.61× | 0.75× |
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% |
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
