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Side-by-side financial comparison of BXP, Inc. (BXP) and TRINITY INDUSTRIES INC (TRN). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($872.1M vs $611.2M, roughly 1.4× TRINITY INDUSTRIES INC). TRINITY INDUSTRIES INC runs the higher net margin — 31.8% vs 15.3%, a 16.5% gap on every dollar of revenue. On growth, BXP, Inc. posted the faster year-over-year revenue change (0.8% vs -2.9%). Over the past eight quarters, BXP, Inc.'s revenue compounded faster (1.3% CAGR vs -13.1%).
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.
Trinity Industries Inc. is an American industrial corporation that owns a variety of businesses which provide products and services to the industrial, energy, transportation and construction sectors.
BXP vs TRN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $611.2M |
| Net Profit | $133.0M | $194.2M |
| Gross Margin | — | 25.5% |
| Operating Margin | — | 54.9% |
| Net Margin | 15.3% | 31.8% |
| Revenue YoY | 0.8% | -2.9% |
| Net Profit YoY | 53.0% | 413.8% |
| EPS (diluted) | $1.69 | $2.25 |
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 | $611.2M | ||
| Q3 25 | $871.5M | $454.1M | ||
| Q2 25 | $868.5M | $506.2M | ||
| Q1 25 | $865.2M | $585.4M | ||
| Q4 24 | $858.6M | $629.4M | ||
| Q3 24 | $859.2M | $798.8M | ||
| Q2 24 | $850.5M | $841.4M |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $194.2M | ||
| Q3 25 | $-121.7M | $30.3M | ||
| Q2 25 | $89.0M | $14.1M | ||
| Q1 25 | $61.2M | $22.1M | ||
| Q4 24 | $-228.9M | $37.8M | ||
| Q3 24 | $83.6M | $31.4M | ||
| Q2 24 | $79.6M | $54.4M |
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 25.5% | ||
| Q3 25 | 59.3% | 31.1% | ||
| Q2 25 | 59.2% | 26.4% | ||
| Q1 25 | 59.2% | 24.3% | ||
| Q4 24 | 59.7% | 24.6% | ||
| Q3 24 | 59.5% | 21.2% | ||
| Q2 24 | 59.8% | 21.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 54.9% | ||
| Q3 25 | — | 26.1% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 17.0% | ||
| Q4 24 | — | 17.8% | ||
| Q3 24 | — | 15.3% | ||
| Q2 24 | — | 16.9% |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 31.8% | ||
| Q3 25 | -14.0% | 6.7% | ||
| Q2 25 | 10.2% | 2.8% | ||
| Q1 25 | 7.1% | 3.8% | ||
| Q4 24 | -26.7% | 6.0% | ||
| Q3 24 | 9.7% | 3.9% | ||
| Q2 24 | 9.4% | 6.5% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $2.25 | ||
| Q3 25 | $-0.77 | $0.37 | ||
| Q2 25 | $0.56 | $0.17 | ||
| Q1 25 | $0.39 | $0.26 | ||
| Q4 24 | $-1.46 | $0.34 | ||
| Q3 24 | $0.53 | $0.37 | ||
| Q2 24 | $0.51 | $0.65 |
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 | $201.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.7B | $1.1B |
| 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 | $201.3M | ||
| Q3 25 | $861.1M | $66.3M | ||
| Q2 25 | $447.0M | $147.7M | ||
| Q1 25 | $398.1M | $94.9M | ||
| Q4 24 | $1.3B | $228.2M | ||
| Q3 24 | $1.4B | $222.4M | ||
| Q2 24 | $685.4M | $257.1M |
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.1B | ||
| Q3 25 | $5.0B | $1.0B | ||
| Q2 25 | $5.3B | $1.0B | ||
| Q1 25 | $5.3B | $1.1B | ||
| Q4 24 | $5.4B | $1.1B | ||
| Q3 24 | $5.8B | $1.1B | ||
| Q2 24 | $5.8B | $1.1B |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $8.4B | ||
| Q3 25 | $26.0B | $8.9B | ||
| Q2 25 | $25.6B | $8.8B | ||
| Q1 25 | $25.4B | $8.7B | ||
| Q4 24 | $26.1B | $8.8B | ||
| Q3 24 | $26.4B | $8.8B | ||
| Q2 24 | $25.5B | $9.0B |
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 | — | $177.4M |
| Free Cash FlowOCF − Capex | — | $158.6M |
| FCF MarginFCF / Revenue | — | 25.9% |
| Capex IntensityCapex / Revenue | 1.5% | 3.1% |
| Cash ConversionOCF / Net Profit | — | 0.91× |
| TTM Free Cash FlowTrailing 4 quarters | — | $314.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $177.4M | ||
| Q3 25 | $274.2M | $44.2M | ||
| Q2 25 | $353.1M | $61.6M | ||
| Q1 25 | $210.0M | $76.5M | ||
| Q4 24 | $383.7M | $201.6M | ||
| Q3 24 | $286.1M | $78.5M | ||
| Q2 24 | $367.1M | $241.5M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $158.6M | ||
| Q3 25 | $231.6M | $35.3M | ||
| Q2 25 | $281.5M | $52.9M | ||
| Q1 25 | $152.6M | $67.3M | ||
| Q4 24 | $312.5M | $180.1M | ||
| Q3 24 | $234.5M | $62.1M | ||
| Q2 24 | $332.4M | $230.2M |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 25.9% | ||
| Q3 25 | 26.6% | 7.8% | ||
| Q2 25 | 32.4% | 10.5% | ||
| Q1 25 | 17.6% | 11.5% | ||
| Q4 24 | 36.4% | 28.6% | ||
| Q3 24 | 27.3% | 7.8% | ||
| Q2 24 | 39.1% | 27.4% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 3.1% | ||
| Q3 25 | 4.9% | 2.0% | ||
| Q2 25 | 8.2% | 1.7% | ||
| Q1 25 | 6.6% | 1.6% | ||
| Q4 24 | 8.3% | 3.4% | ||
| Q3 24 | 6.0% | 2.1% | ||
| Q2 24 | 4.1% | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 0.91× | ||
| Q3 25 | — | 1.46× | ||
| Q2 25 | 3.97× | 4.37× | ||
| Q1 25 | 3.43× | 3.46× | ||
| Q4 24 | — | 5.33× | ||
| Q3 24 | 3.42× | 2.50× | ||
| Q2 24 | 4.61× | 4.44× |
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% |
TRN
| Manufacturing | $296.5M | 49% |
| Leasing And Management | $234.8M | 38% |
| Maintenance Services Domain | $69.8M | 11% |
| Digital Logistics Services | $11.2M | 2% |
