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Side-by-side financial comparison of BXP, Inc. (BXP) and Trade Desk (The) (TTD). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($872.1M vs $846.8M, roughly 1.0× Trade Desk (The)). Trade Desk (The) runs the higher net margin — 22.1% vs 15.3%, a 6.8% gap on every dollar of revenue. On growth, Trade Desk (The) posted the faster year-over-year revenue change (14.3% vs 0.8%). Over the past eight quarters, Trade Desk (The)'s revenue compounded faster (31.3% 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.
The Trade Desk, Inc. is an American multinational technology company that specializes in real-time programmatic marketing automation technologies, products, and services, designed to personalize digital content delivery to users.
BXP vs TTD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $846.8M |
| Net Profit | $133.0M | $186.9M |
| Gross Margin | — | 80.7% |
| Operating Margin | — | 30.3% |
| Net Margin | 15.3% | 22.1% |
| Revenue YoY | 0.8% | 14.3% |
| Net Profit YoY | 53.0% | 2.6% |
| EPS (diluted) | $1.69 | $0.39 |
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 | $846.8M | ||
| Q3 25 | $871.5M | $739.4M | ||
| Q2 25 | $868.5M | $694.0M | ||
| Q1 25 | $865.2M | $616.0M | ||
| Q4 24 | $858.6M | $741.0M | ||
| Q3 24 | $859.2M | $628.0M | ||
| Q2 24 | $850.5M | $584.5M |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $186.9M | ||
| Q3 25 | $-121.7M | $115.5M | ||
| Q2 25 | $89.0M | $90.1M | ||
| Q1 25 | $61.2M | $50.7M | ||
| Q4 24 | $-228.9M | $182.2M | ||
| Q3 24 | $83.6M | $94.2M | ||
| Q2 24 | $79.6M | $85.0M |
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 80.7% | ||
| Q3 25 | 59.3% | 78.1% | ||
| Q2 25 | 59.2% | 78.2% | ||
| Q1 25 | 59.2% | 76.8% | ||
| Q4 24 | 59.7% | 81.7% | ||
| Q3 24 | 59.5% | 80.5% | ||
| Q2 24 | 59.8% | 81.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 30.3% | ||
| Q3 25 | — | 21.8% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | 8.8% | ||
| Q4 24 | — | 26.4% | ||
| Q3 24 | — | 17.3% | ||
| Q2 24 | — | 16.2% |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 22.1% | ||
| Q3 25 | -14.0% | 15.6% | ||
| Q2 25 | 10.2% | 13.0% | ||
| Q1 25 | 7.1% | 8.2% | ||
| Q4 24 | -26.7% | 24.6% | ||
| Q3 24 | 9.7% | 15.0% | ||
| Q2 24 | 9.4% | 14.5% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.39 | ||
| Q3 25 | $-0.77 | $0.23 | ||
| Q2 25 | $0.56 | $0.18 | ||
| Q1 25 | $0.39 | $0.10 | ||
| Q4 24 | $-1.46 | $0.36 | ||
| Q3 24 | $0.53 | $0.19 | ||
| Q2 24 | $0.51 | $0.17 |
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 | — | — |
| Stockholders' EquityBook value | $7.7B | $2.5B |
| Total Assets | $25.1B | $6.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $1.3B | ||
| Q3 25 | $861.1M | $1.4B | ||
| Q2 25 | $447.0M | $1.7B | ||
| Q1 25 | $398.1M | $1.7B | ||
| Q4 24 | $1.3B | $1.9B | ||
| Q3 24 | $1.4B | $1.7B | ||
| Q2 24 | $685.4M | $1.5B |
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $2.5B | ||
| Q3 25 | $5.0B | $2.6B | ||
| Q2 25 | $5.3B | $2.7B | ||
| Q1 25 | $5.3B | $2.7B | ||
| Q4 24 | $5.4B | $2.9B | ||
| Q3 24 | $5.8B | $2.6B | ||
| Q2 24 | $5.8B | $2.4B |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $6.2B | ||
| Q3 25 | $26.0B | $5.9B | ||
| Q2 25 | $25.6B | $6.0B | ||
| Q1 25 | $25.4B | $5.7B | ||
| Q4 24 | $26.1B | $6.1B | ||
| Q3 24 | $26.4B | $5.5B | ||
| Q2 24 | $25.5B | $5.2B |
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 | — | $311.6M |
| Free Cash FlowOCF − Capex | — | $285.3M |
| FCF MarginFCF / Revenue | — | 33.7% |
| Capex IntensityCapex / Revenue | 1.5% | 3.1% |
| Cash ConversionOCF / Net Profit | — | 1.67× |
| TTM Free Cash FlowTrailing 4 quarters | — | $795.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $311.6M | ||
| Q3 25 | $274.2M | $224.7M | ||
| Q2 25 | $353.1M | $165.0M | ||
| Q1 25 | $210.0M | $291.4M | ||
| Q4 24 | $383.7M | $199.4M | ||
| Q3 24 | $286.1M | $273.3M | ||
| Q2 24 | $367.1M | $81.3M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $285.3M | ||
| Q3 25 | $231.6M | $158.3M | ||
| Q2 25 | $281.5M | $119.8M | ||
| Q1 25 | $152.6M | $232.3M | ||
| Q4 24 | $312.5M | $179.2M | ||
| Q3 24 | $234.5M | $224.6M | ||
| Q2 24 | $332.4M | $59.1M |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 33.7% | ||
| Q3 25 | 26.6% | 21.4% | ||
| Q2 25 | 32.4% | 17.3% | ||
| Q1 25 | 17.6% | 37.7% | ||
| Q4 24 | 36.4% | 24.2% | ||
| Q3 24 | 27.3% | 35.8% | ||
| Q2 24 | 39.1% | 10.1% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 3.1% | ||
| Q3 25 | 4.9% | 9.0% | ||
| Q2 25 | 8.2% | 6.5% | ||
| Q1 25 | 6.6% | 9.6% | ||
| Q4 24 | 8.3% | 2.7% | ||
| Q3 24 | 6.0% | 7.8% | ||
| Q2 24 | 4.1% | 3.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 1.67× | ||
| Q3 25 | — | 1.94× | ||
| Q2 25 | 3.97× | 1.83× | ||
| Q1 25 | 3.43× | 5.75× | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | 3.42× | 2.90× | ||
| Q2 24 | 4.61× | 0.96× |
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% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
