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Side-by-side financial comparison of BXP, Inc. (BXP) and Park Hotels & Resorts Inc. (PK). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($872.1M vs $629.0M, roughly 1.4× Park Hotels & Resorts Inc.). BXP, Inc. runs the higher net margin — 15.3% vs -32.6%, a 47.8% 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 -0.8%).
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.
Park Hotels & Resorts is an American real estate investment trust (REIT) focused on hotel properties, based in Tysons, Virginia. It was formed in 2017 as a spin-off from Hilton Worldwide.
BXP vs PK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $629.0M |
| Net Profit | $133.0M | $-205.0M |
| Gross Margin | — | — |
| Operating Margin | — | -26.1% |
| Net Margin | 15.3% | -32.6% |
| Revenue YoY | 0.8% | 0.6% |
| Net Profit YoY | 53.0% | -410.6% |
| EPS (diluted) | $1.69 | $-1.04 |
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 | $629.0M | ||
| Q3 25 | $871.5M | $610.0M | ||
| Q2 25 | $868.5M | $672.0M | ||
| Q1 25 | $865.2M | $630.0M | ||
| Q4 24 | $858.6M | $625.0M | ||
| Q3 24 | $859.2M | $649.0M | ||
| Q2 24 | $850.5M | $686.0M |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $-205.0M | ||
| Q3 25 | $-121.7M | $-16.0M | ||
| Q2 25 | $89.0M | $-5.0M | ||
| Q1 25 | $61.2M | $-57.0M | ||
| Q4 24 | $-228.9M | $66.0M | ||
| Q3 24 | $83.6M | $54.0M | ||
| Q2 24 | $79.6M | $64.0M |
| 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 | — | -26.1% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | 9.7% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 13.3% | ||
| Q3 24 | — | 14.6% | ||
| Q2 24 | — | 17.6% |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | -32.6% | ||
| Q3 25 | -14.0% | -2.6% | ||
| Q2 25 | 10.2% | -0.7% | ||
| Q1 25 | 7.1% | -9.0% | ||
| Q4 24 | -26.7% | 10.6% | ||
| Q3 24 | 9.7% | 8.3% | ||
| Q2 24 | 9.4% | 9.3% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $-1.04 | ||
| Q3 25 | $-0.77 | $-0.08 | ||
| Q2 25 | $0.56 | $-0.02 | ||
| Q1 25 | $0.39 | $-0.29 | ||
| Q4 24 | $-1.46 | $0.32 | ||
| Q3 24 | $0.53 | $0.26 | ||
| Q2 24 | $0.51 | $0.30 |
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 | $232.0M |
| Total DebtLower is stronger | — | $3.9B |
| Stockholders' EquityBook value | $7.7B | $3.1B |
| Total Assets | $25.1B | $7.7B |
| Debt / EquityLower = less leverage | — | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $232.0M | ||
| Q3 25 | $861.1M | $278.0M | ||
| Q2 25 | $447.0M | $319.0M | ||
| Q1 25 | $398.1M | $233.0M | ||
| Q4 24 | $1.3B | $402.0M | ||
| Q3 24 | $1.4B | $480.0M | ||
| Q2 24 | $685.4M | $449.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.9B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $3.9B | ||
| Q4 24 | — | $3.9B | ||
| Q3 24 | — | $3.9B | ||
| Q2 24 | — | $3.9B |
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $3.1B | ||
| Q3 25 | $5.0B | $3.4B | ||
| Q2 25 | $5.3B | $3.4B | ||
| Q1 25 | $5.3B | $3.5B | ||
| Q4 24 | $5.4B | $3.6B | ||
| Q3 24 | $5.8B | $3.8B | ||
| Q2 24 | $5.8B | $3.8B |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $7.7B | ||
| Q3 25 | $26.0B | $8.8B | ||
| Q2 25 | $25.6B | $8.9B | ||
| Q1 25 | $25.4B | $8.9B | ||
| Q4 24 | $26.1B | $9.2B | ||
| Q3 24 | $26.4B | $9.2B | ||
| Q2 24 | $25.5B | $9.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | 1.14× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | — | 1.11× | ||
| Q4 24 | — | 1.06× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 1.03× |
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 | — | $105.0M |
| Free Cash FlowOCF − Capex | — | $-3.0M |
| FCF MarginFCF / Revenue | — | -0.5% |
| Capex IntensityCapex / Revenue | 1.5% | 17.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $102.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $105.0M | ||
| Q3 25 | $274.2M | $99.0M | ||
| Q2 25 | $353.1M | $108.0M | ||
| Q1 25 | $210.0M | $86.0M | ||
| Q4 24 | $383.7M | $80.0M | ||
| Q3 24 | $286.1M | $140.0M | ||
| Q2 24 | $367.1M | $117.0M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $-3.0M | ||
| Q3 25 | $231.6M | $31.0M | ||
| Q2 25 | $281.5M | $65.0M | ||
| Q1 25 | $152.6M | $9.0M | ||
| Q4 24 | $312.5M | $17.0M | ||
| Q3 24 | $234.5M | $97.0M | ||
| Q2 24 | $332.4M | $66.0M |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | -0.5% | ||
| Q3 25 | 26.6% | 5.1% | ||
| Q2 25 | 32.4% | 9.7% | ||
| Q1 25 | 17.6% | 1.4% | ||
| Q4 24 | 36.4% | 2.7% | ||
| Q3 24 | 27.3% | 14.9% | ||
| Q2 24 | 39.1% | 9.6% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 17.2% | ||
| Q3 25 | 4.9% | 11.1% | ||
| Q2 25 | 8.2% | 6.4% | ||
| Q1 25 | 6.6% | 12.2% | ||
| Q4 24 | 8.3% | 10.1% | ||
| Q3 24 | 6.0% | 6.6% | ||
| Q2 24 | 4.1% | 7.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.43× | — | ||
| Q4 24 | — | 1.21× | ||
| Q3 24 | 3.42× | 2.59× | ||
| Q2 24 | 4.61× | 1.83× |
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% |
PK
| Occupancy | $371.0M | 59% |
| Food And Beverage | $173.0M | 28% |
| Ancillary Hotel | $61.0M | 10% |
| Hotel Other | $24.0M | 4% |
