BXP Boston Properties margins

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Relative Growth: Rel. Growth: 46
Relative Strength: Rel. Strength: 39
Relative Valuation: Rel. Valuation: 76
Relative Profitability: Rel. Profitability: 77
Gross margin
60.5%
Operating margin
28.3%
EBITDA margin
53%
Net margin
8.4%

The Boston Properties reports a gross margin of 60.5%, an operating margin of 28.3%, an EBITDA margin of 53%, and a net margin of 8.4%. Among the available margins, net margin improved the most and operating margin declined the most, by 8.3 and 1.5 percentage points respectively.

BXP margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Boston Properties's margins averaged 61.28% gross, 29.9% operating, 48.86% EBITDA, and 4.3% net. For Boston Properties, EBITDA and net margins are above their three-year averages, while gross and operating margins are below their three-year averages.

BXP margin expansion

Year-over-year margin changes in percentage points

EBITDA margin expanded by 7.8 percentage points and net margin by 8.3 percentage points, but gross margin contracted by 0.3 percentage points and operating margin by 1.5 percentage points.

Gross margin expansion
-0.3pp
Operating margin expansion
-1.5pp
EBITDA margin expansion
7.8pp
Net margin expansion
8.3pp

BXP Gross margin

Across the last 3 years, Boston Properties's gross margin stood at 61.28%. The current gross margin stands at 60.5%, 0.8 percentage points below its three-year average. Gross margin was highest at 62.8% in Dec 2023 and lowest at 60.3% in Mar 2026.

BXP Operating margin

Reviewing the last 3 years, Boston Properties recorded an average operating margin of 29.9%. Boston Properties's current operating margin is 28.3% and is 1.6 percentage points below its three-year average. The highest operating margin for Boston Properties was 31.6% in Mar 2024, while the lowest was 28.3% in Jun 2026.

BXP EBITDA margin

Over the last 3 years, Boston Properties's EBITDA margin averaged 48.86%. The current EBITDA margin of 53% is 4.1 percentage points above its three-year average. During this period, EBITDA margin reached a high of 55.3% in Sep 2024 and a low of 39.5% in Sep 2025.

BXP Net margin

The average net margin for Boston Properties was 4.3% across the past 3 years. Compared with its three-year average, Boston Properties's current net margin is 8.4% and is 4.1 percentage points above its three-year average. The net margin for Boston Properties moved between -5.8% in Sep 2025 and 10.7% in Sep 2024.

BXP margin group comparison

Margins compared with peer-group, industry and sector averages

Boston Properties's gross margin of 60.5% is below the Real Estate sector and its peers average. But compared to its Real Estate sector average of 63%, Boston Properties's gross margin is only 4% lower.

BXP margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Boston Properties's gross margin?

As of Jun 30, 2026, BXP has a gross margin of 60.5%.

What is Boston Properties's operating margin?

The current operating margin for BXP is 28.3% as of Jun 30, 2026.

What is Boston Properties's EBITDA margin?

The current EBITDA margin for BXP is 53% as of Jun 30, 2026.

What is Boston Properties's net margin?

As of Jun 30, 2026, BXP has a net margin of 8.4%.

What are the average margins of BXP?

Across the last 3 years, BXP averaged 61.3% gross, 29.9% operating, 48.9% EBITDA, and 4.3% net.

What are the highest historical margins of BXP?

Across the 5-year period, BXP posted its highest margins at 64.2% gross in Mar 2022, 34.5% operating in Sep 2022, 67.5% EBITDA in Sep 2022, and 29.9% net in Sep 2022.

What are the lowest historical margins of BXP?

Over this 5-year history, Boston Properties's margins fell as low as 60.3% gross in Mar 2026, 28.3% operating in Jun 2026, 39.5% EBITDA in Sep 2025, and -5.8% net in Sep 2025.