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Side-by-side financial comparison of BXP, Inc. (BXP) and RXO, Inc. (RXO). Click either name above to swap in a different company.
RXO, Inc. is the larger business by last-quarter revenue ($1.5B vs $872.1M, roughly 1.7× BXP, Inc.). BXP, Inc. runs the higher net margin — 15.3% vs -3.1%, a 18.4% gap on every dollar of revenue. On growth, BXP, Inc. posted the faster year-over-year revenue change (0.8% vs -11.9%). Over the past eight quarters, RXO, Inc.'s revenue compounded faster (26.8% 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.
RXO, Inc. is a leading transportation and logistics solutions provider headquartered in the United States. Its core service portfolio includes freight brokerage, last-mile delivery for heavy and bulky goods, managed transportation services, and end-to-end supply chain optimization support, primarily catering to clients across the North American manufacturing, retail, and e-commerce segments.
BXP vs RXO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $1.5B |
| Net Profit | $133.0M | $-46.0M |
| Gross Margin | — | — |
| Operating Margin | — | -2.9% |
| Net Margin | 15.3% | -3.1% |
| Revenue YoY | 0.8% | -11.9% |
| Net Profit YoY | 53.0% | -84.0% |
| EPS (diluted) | $1.69 | $-0.28 |
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 | $1.5B | ||
| Q3 25 | $871.5M | $1.4B | ||
| Q2 25 | $868.5M | $1.4B | ||
| Q1 25 | $865.2M | $1.4B | ||
| Q4 24 | $858.6M | $1.7B | ||
| Q3 24 | $859.2M | $1.0B | ||
| Q2 24 | $850.5M | $930.0M |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $-46.0M | ||
| Q3 25 | $-121.7M | $-14.0M | ||
| Q2 25 | $89.0M | $-9.0M | ||
| Q1 25 | $61.2M | $-31.0M | ||
| Q4 24 | $-228.9M | $-25.0M | ||
| Q3 24 | $83.6M | $-243.0M | ||
| Q2 24 | $79.6M | $-7.0M |
| 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 | — | -2.9% | ||
| Q3 25 | — | -0.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -2.1% | ||
| Q4 24 | — | -1.4% | ||
| Q3 24 | — | -1.9% | ||
| Q2 24 | — | — |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | -3.1% | ||
| Q3 25 | -14.0% | -1.0% | ||
| Q2 25 | 10.2% | -0.6% | ||
| Q1 25 | 7.1% | -2.2% | ||
| Q4 24 | -26.7% | -1.5% | ||
| Q3 24 | 9.7% | -23.4% | ||
| Q2 24 | 9.4% | -0.8% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $-0.28 | ||
| Q3 25 | $-0.77 | $-0.08 | ||
| Q2 25 | $0.56 | $-0.05 | ||
| Q1 25 | $0.39 | $-0.18 | ||
| Q4 24 | $-1.46 | $-0.17 | ||
| Q3 24 | $0.53 | $-1.81 | ||
| Q2 24 | $0.51 | $-0.06 |
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 | $17.0M |
| Total DebtLower is stronger | — | $387.0M |
| Stockholders' EquityBook value | $7.7B | $1.5B |
| Total Assets | $25.1B | $3.3B |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $17.0M | ||
| Q3 25 | $861.1M | $25.0M | ||
| Q2 25 | $447.0M | $18.0M | ||
| Q1 25 | $398.1M | $16.0M | ||
| Q4 24 | $1.3B | $35.0M | ||
| Q3 24 | $1.4B | $55.0M | ||
| Q2 24 | $685.4M | $7.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $387.0M | ||
| Q3 25 | — | $387.0M | ||
| Q2 25 | — | $387.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M |
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.5B | ||
| Q3 25 | $5.0B | $1.6B | ||
| Q2 25 | $5.3B | $1.6B | ||
| Q1 25 | $5.3B | $1.6B | ||
| Q4 24 | $5.4B | $1.6B | ||
| Q3 24 | $5.8B | $1.7B | ||
| Q2 24 | $5.8B | $579.0M |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $3.3B | ||
| Q3 25 | $26.0B | $3.2B | ||
| Q2 25 | $25.6B | $3.2B | ||
| Q1 25 | $25.4B | $3.3B | ||
| Q4 24 | $26.1B | $3.4B | ||
| Q3 24 | $26.4B | $3.4B | ||
| Q2 24 | $25.5B | $1.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× |
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 | — | $7.0M |
| Free Cash FlowOCF − Capex | — | $-9.0M |
| FCF MarginFCF / Revenue | — | -0.6% |
| Capex IntensityCapex / Revenue | 1.5% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-8.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $7.0M | ||
| Q3 25 | $274.2M | $23.0M | ||
| Q2 25 | $353.1M | $23.0M | ||
| Q1 25 | $210.0M | $-2.0M | ||
| Q4 24 | $383.7M | $-7.0M | ||
| Q3 24 | $286.1M | $-7.0M | ||
| Q2 24 | $367.1M | $-5.0M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $-9.0M | ||
| Q3 25 | $231.6M | $9.0M | ||
| Q2 25 | $281.5M | $9.0M | ||
| Q1 25 | $152.6M | $-17.0M | ||
| Q4 24 | $312.5M | $-19.0M | ||
| Q3 24 | $234.5M | $-18.0M | ||
| Q2 24 | $332.4M | $-16.0M |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | -0.6% | ||
| Q3 25 | 26.6% | 0.6% | ||
| Q2 25 | 32.4% | 0.6% | ||
| Q1 25 | 17.6% | -1.2% | ||
| Q4 24 | 36.4% | -1.1% | ||
| Q3 24 | 27.3% | -1.7% | ||
| Q2 24 | 39.1% | -1.7% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 1.1% | ||
| Q3 25 | 4.9% | 1.0% | ||
| Q2 25 | 8.2% | 1.0% | ||
| Q1 25 | 6.6% | 1.0% | ||
| Q4 24 | 8.3% | 0.7% | ||
| Q3 24 | 6.0% | 1.1% | ||
| Q2 24 | 4.1% | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.43× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.42× | — | ||
| 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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
