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Side-by-side financial comparison of BXP, Inc. (BXP) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($872.1M vs $625.1M, roughly 1.4× WATTS WATER TECHNOLOGIES INC). BXP, Inc. runs the higher net margin — 15.3% vs 13.4%, a 1.9% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs 0.8%). Over the past eight quarters, WATTS WATER TECHNOLOGIES INC's revenue compounded faster (4.6% 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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
BXP vs WTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $625.1M |
| Net Profit | $133.0M | $83.7M |
| Gross Margin | — | 49.5% |
| Operating Margin | — | 18.2% |
| Net Margin | 15.3% | 13.4% |
| Revenue YoY | 0.8% | 15.7% |
| Net Profit YoY | 53.0% | 24.0% |
| EPS (diluted) | $1.69 | $2.50 |
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 | $625.1M | ||
| Q3 25 | $871.5M | $611.7M | ||
| Q2 25 | $868.5M | $643.7M | ||
| Q1 25 | $865.2M | $558.0M | ||
| Q4 24 | $858.6M | $540.4M | ||
| Q3 24 | $859.2M | $543.6M | ||
| Q2 24 | $850.5M | $597.3M |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $83.7M | ||
| Q3 25 | $-121.7M | $82.2M | ||
| Q2 25 | $89.0M | $100.9M | ||
| Q1 25 | $61.2M | $74.0M | ||
| Q4 24 | $-228.9M | $67.5M | ||
| Q3 24 | $83.6M | $69.1M | ||
| Q2 24 | $79.6M | $82.0M |
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 49.5% | ||
| Q3 25 | 59.3% | 48.8% | ||
| Q2 25 | 59.2% | 50.6% | ||
| Q1 25 | 59.2% | 48.8% | ||
| Q4 24 | 59.7% | 46.7% | ||
| Q3 24 | 59.5% | 47.3% | ||
| Q2 24 | 59.8% | 47.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 18.2% | ||
| Q2 25 | — | 21.0% | ||
| Q1 25 | — | 15.7% | ||
| Q4 24 | — | 16.5% | ||
| Q3 24 | — | 17.1% | ||
| Q2 24 | — | 18.7% |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 13.4% | ||
| Q3 25 | -14.0% | 13.4% | ||
| Q2 25 | 10.2% | 15.7% | ||
| Q1 25 | 7.1% | 13.3% | ||
| Q4 24 | -26.7% | 12.5% | ||
| Q3 24 | 9.7% | 12.7% | ||
| Q2 24 | 9.4% | 13.7% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $2.50 | ||
| Q3 25 | $-0.77 | $2.45 | ||
| Q2 25 | $0.56 | $3.01 | ||
| Q1 25 | $0.39 | $2.21 | ||
| Q4 24 | $-1.46 | $2.02 | ||
| Q3 24 | $0.53 | $2.06 | ||
| Q2 24 | $0.51 | $2.44 |
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 | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.7B | $2.0B |
| Total Assets | $25.1B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $405.5M | ||
| Q3 25 | $861.1M | $457.7M | ||
| Q2 25 | $447.0M | $369.3M | ||
| Q1 25 | $398.1M | $336.8M | ||
| Q4 24 | $1.3B | $386.9M | ||
| Q3 24 | $1.4B | $303.9M | ||
| Q2 24 | $685.4M | $279.4M |
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $2.0B | ||
| Q3 25 | $5.0B | $2.0B | ||
| Q2 25 | $5.3B | $1.9B | ||
| Q1 25 | $5.3B | $1.8B | ||
| Q4 24 | $5.4B | $1.7B | ||
| Q3 24 | $5.8B | $1.7B | ||
| Q2 24 | $5.8B | $1.6B |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $2.9B | ||
| Q3 25 | $26.0B | $2.7B | ||
| Q2 25 | $25.6B | $2.6B | ||
| Q1 25 | $25.4B | $2.5B | ||
| Q4 24 | $26.1B | $2.4B | ||
| Q3 24 | $26.4B | $2.4B | ||
| Q2 24 | $25.5B | $2.4B |
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 | — | $154.7M |
| Free Cash FlowOCF − Capex | — | $140.3M |
| FCF MarginFCF / Revenue | — | 22.4% |
| Capex IntensityCapex / Revenue | 1.5% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | — | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $154.7M | ||
| Q3 25 | $274.2M | $122.4M | ||
| Q2 25 | $353.1M | $69.7M | ||
| Q1 25 | $210.0M | $55.2M | ||
| Q4 24 | $383.7M | $139.5M | ||
| Q3 24 | $286.1M | $90.7M | ||
| Q2 24 | $367.1M | $85.3M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $140.3M | ||
| Q3 25 | $231.6M | $110.9M | ||
| Q2 25 | $281.5M | $59.5M | ||
| Q1 25 | $152.6M | $45.6M | ||
| Q4 24 | $312.5M | $127.5M | ||
| Q3 24 | $234.5M | $84.3M | ||
| Q2 24 | $332.4M | $78.5M |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 22.4% | ||
| Q3 25 | 26.6% | 18.1% | ||
| Q2 25 | 32.4% | 9.2% | ||
| Q1 25 | 17.6% | 8.2% | ||
| Q4 24 | 36.4% | 23.6% | ||
| Q3 24 | 27.3% | 15.5% | ||
| Q2 24 | 39.1% | 13.1% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 2.3% | ||
| Q3 25 | 4.9% | 1.9% | ||
| Q2 25 | 8.2% | 1.6% | ||
| Q1 25 | 6.6% | 1.7% | ||
| Q4 24 | 8.3% | 2.2% | ||
| Q3 24 | 6.0% | 1.2% | ||
| Q2 24 | 4.1% | 1.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 1.85× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | 3.97× | 0.69× | ||
| Q1 25 | 3.43× | 0.75× | ||
| Q4 24 | — | 2.07× | ||
| Q3 24 | 3.42× | 1.31× | ||
| Q2 24 | 4.61× | 1.04× |
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% |
WTS
Segment breakdown not available.
