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Side-by-side financial comparison of BXP, Inc. (BXP) and VALHI INC (VHI). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($872.1M vs $494.5M, roughly 1.8× VALHI INC). BXP, Inc. runs the higher net margin — 15.3% vs -10.8%, a 26.0% gap on every dollar of revenue. On growth, VALHI INC posted the faster year-over-year revenue change (2.8% vs 0.8%). Over the past eight quarters, BXP, Inc.'s revenue compounded faster (1.3% CAGR vs -3.5%).
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.
Valhi, Inc. is an American holding company operating through wholly and majority-owned subsidiaries in a number of different industries. It was founded in 1987 as a result of the merger of the LLC Corporation and Amalgamated Sugar Company. The Contran Corporation owned 93% of Valhi's common stock as of December 2014. The chairman of the company was Harold Simmons until his death in 2013. As of 2014 it was a Fortune 1000 company.
BXP vs VHI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $494.5M |
| Net Profit | $133.0M | $-53.2M |
| Gross Margin | — | 6.9% |
| Operating Margin | — | -6.2% |
| Net Margin | 15.3% | -10.8% |
| Revenue YoY | 0.8% | 2.8% |
| Net Profit YoY | 53.0% | -333.3% |
| EPS (diluted) | $1.69 | $-1.86 |
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 | $494.5M | ||
| Q3 25 | $871.5M | $503.5M | ||
| Q2 25 | $868.5M | $540.4M | ||
| Q1 25 | $865.2M | $538.6M | ||
| Q4 24 | $858.6M | $480.9M | ||
| Q3 24 | $859.2M | $533.6M | ||
| Q2 24 | $850.5M | $559.7M |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $-53.2M | ||
| Q3 25 | $-121.7M | $-22.2M | ||
| Q2 25 | $89.0M | $900.0K | ||
| Q1 25 | $61.2M | $16.9M | ||
| Q4 24 | $-228.9M | $22.8M | ||
| Q3 24 | $83.6M | $57.5M | ||
| Q2 24 | $79.6M | $19.9M |
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 6.9% | ||
| Q3 25 | 59.3% | 12.0% | ||
| Q2 25 | 59.2% | 14.5% | ||
| Q1 25 | 59.2% | 22.7% | ||
| Q4 24 | 59.7% | 20.9% | ||
| Q3 24 | 59.5% | 21.8% | ||
| Q2 24 | 59.8% | 21.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | -6.2% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 6.6% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 12.7% | ||
| Q2 24 | — | 9.8% |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | -10.8% | ||
| Q3 25 | -14.0% | -4.4% | ||
| Q2 25 | 10.2% | 0.2% | ||
| Q1 25 | 7.1% | 3.1% | ||
| Q4 24 | -26.7% | 4.7% | ||
| Q3 24 | 9.7% | 10.8% | ||
| Q2 24 | 9.4% | 3.6% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $-1.86 | ||
| Q3 25 | $-0.77 | $-0.78 | ||
| Q2 25 | $0.56 | $0.03 | ||
| Q1 25 | $0.39 | $0.59 | ||
| Q4 24 | $-1.46 | $0.81 | ||
| Q3 24 | $0.53 | $2.01 | ||
| Q2 24 | $0.51 | $0.70 |
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 | $216.9M |
| Total DebtLower is stronger | — | $590.9M |
| Stockholders' EquityBook value | $7.7B | $1.0B |
| Total Assets | $25.1B | $2.6B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $216.9M | ||
| Q3 25 | $861.1M | $186.6M | ||
| Q2 25 | $447.0M | $190.9M | ||
| Q1 25 | $398.1M | $196.4M | ||
| Q4 24 | $1.3B | $350.2M | ||
| Q3 24 | $1.4B | $316.7M | ||
| Q2 24 | $685.4M | $386.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $590.9M | ||
| Q3 25 | — | $661.5M | ||
| Q2 25 | — | $544.8M | ||
| Q1 25 | — | $525.9M | ||
| Q4 24 | — | $484.4M | ||
| Q3 24 | — | $526.6M | ||
| Q2 24 | — | $497.4M |
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.0B | ||
| Q3 25 | $5.0B | $1.0B | ||
| Q2 25 | $5.3B | $1.1B | ||
| Q1 25 | $5.3B | $1.1B | ||
| Q4 24 | $5.4B | $1.0B | ||
| Q3 24 | $5.8B | $1.0B | ||
| Q2 24 | $5.8B | $962.6M |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $2.6B | ||
| Q3 25 | $26.0B | $2.7B | ||
| Q2 25 | $25.6B | $2.8B | ||
| Q1 25 | $25.4B | $2.8B | ||
| Q4 24 | $26.1B | $2.8B | ||
| Q3 24 | $26.4B | $2.8B | ||
| Q2 24 | $25.5B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.63× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 0.49× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.52× |
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 | — | $100.6M |
| Free Cash FlowOCF − Capex | — | $89.8M |
| FCF MarginFCF / Revenue | — | 18.2% |
| Capex IntensityCapex / Revenue | 1.5% | 2.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-82.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $100.6M | ||
| Q3 25 | $274.2M | $-1.9M | ||
| Q2 25 | $353.1M | $21.7M | ||
| Q1 25 | $210.0M | $-155.9M | ||
| Q4 24 | $383.7M | $45.8M | ||
| Q3 24 | $286.1M | $13.5M | ||
| Q2 24 | $367.1M | $33.5M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $89.8M | ||
| Q3 25 | $231.6M | $-12.3M | ||
| Q2 25 | $281.5M | $9.1M | ||
| Q1 25 | $152.6M | $-168.7M | ||
| Q4 24 | $312.5M | $33.3M | ||
| Q3 24 | $234.5M | $3.9M | ||
| Q2 24 | $332.4M | $29.7M |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 18.2% | ||
| Q3 25 | 26.6% | -2.4% | ||
| Q2 25 | 32.4% | 1.7% | ||
| Q1 25 | 17.6% | -31.3% | ||
| Q4 24 | 36.4% | 6.9% | ||
| Q3 24 | 27.3% | 0.7% | ||
| Q2 24 | 39.1% | 5.3% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 2.2% | ||
| Q3 25 | 4.9% | 2.1% | ||
| Q2 25 | 8.2% | 2.3% | ||
| Q1 25 | 6.6% | 2.4% | ||
| Q4 24 | 8.3% | 2.6% | ||
| Q3 24 | 6.0% | 1.8% | ||
| Q2 24 | 4.1% | 0.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.97× | 24.11× | ||
| Q1 25 | 3.43× | -9.22× | ||
| Q4 24 | — | 2.01× | ||
| Q3 24 | 3.42× | 0.23× | ||
| Q2 24 | 4.61× | 1.68× |
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% |
VHI
| Chemicals | $418.3M | 85% |
| Real Estate Management And Development | $38.5M | 8% |
| Security Products | $29.5M | 6% |
| Marine Components | $8.2M | 2% |
