Boston Properties
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
32.8429.09N/AN/A
Price/Sales ratio
3.073.002.862.81
Earnings per Share (EPS)
$2.03$2.30N/AN/A

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
44.4133.5637.8243.3529.82342.4727.94213.0118.1557.8632.4129.82
Price/Sales ratio
8.217.857.577.706.397.195.316.223.403.363.497.19
Price/Book Value ratio
3.453.423.343.442.953.742.453.081.721.872.043.74
Price/Cash Flow ratio
28.3224.4818.6422.0915.1118.0412.7015.868.258.459.5018.04
Price/Free Cash Flow ratio
28.3224.4886.1441.8023.1628.4612.7216.0611.978.4512.6528.46
Price/Earnings Growth ratio
-1.061.05-3.06-4.161.04-3.830.03-2.530.03-0.85-5.37-3.83
Dividend Yield
4.26%6.26%3.47%2.62%3.38%3.12%4.68%3.80%6.46%6.24%3.94%3.38%
Profitability Indicator Ratios
Gross Profit Margin
63.93%63.69%63.88%63.02%62.36%63.03%62.32%63.77%63.03%62.71%35.22%63.03%
Operating Profit Margin
33.45%34.09%32.29%34.89%33.62%37.59%29.92%33.79%32.81%56.37%30.21%37.59%
Pretax Profit Margin
14.93%17.02%19.11%21.32%22.00%22.02%36.83%21.87%32.83%8.90%14.06%22.02%
Net Profit Margin
18.50%23.41%20.03%17.77%21.45%2.10%19.00%2.92%18.76%5.81%10.74%10.74%
Effective Tax Rate
106.95%69.77%81.50%86.17%29.61%90.45%48.39%86.64%42.83%N/A21.66%90.45%
Return on Assets
2.23%3.17%2.71%2.38%2.87%0.29%2.3%0.37%2.41%0.73%1.37%1.37%
Return On Equity
7.78%10.21%8.83%7.95%9.90%1.09%8.76%1.44%9.51%3.23%6.22%6.22%
Return on Capital Employed
4.31%4.82%4.53%4.83%4.63%5.39%3.72%4.51%4.33%7.30%4.05%5.39%
Liquidity Ratios
Current Ratio
2.442.312.142.563.463.104.96N/AN/AN/A1.223.10
Quick Ratio
2.442.312.142.563.463.034.912.593.154.181.223.03
Cash ratio
1.360.910.530.721.021.012.710.620.992.001.141.02
Days of Sales Outstanding
112.46124.96127.59133.78137.22141.97158.35163.87160.95176.3710.77141.97
Days of Inventory outstanding
-69.42-74.71-51.37-29.58-28.89N/AN/AN/AN/AN/AN/A-28.89
Operating Cycle
43.0450.2476.21104.20108.33141.97158.35163.87160.95176.3710.77141.97
Days of Payables Outstanding
102.70110.87118.27125.7798.74125.91117.79111.89132.62137.0674.10125.91
Cash Conversion Cycle
-59.65-60.63-42.05-21.569.5916.0540.5651.9828.3239.30-63.3316.05
Debt Ratios
Debt Ratio
0.500.500.430.510.540.550.570.570.580.600.610.54
Debt Equity Ratio
1.771.611.411.721.872.072.172.212.322.692.811.87
Long-term Debt to Capitalization
0.630.610.580.630.650.670.680.680.680.720.730.65
Total Debt to Capitalization
0.630.610.580.630.650.670.680.680.690.720.730.65
Interest Coverage Ratio
1.761.962.012.422.452.532.10N/AN/AN/A1.622.53
Cash Flow to Debt Ratio
0.060.080.120.090.100.090.080.080.090.080.070.09
Company Equity Multiplier
3.493.213.253.333.443.743.813.833.944.424.583.44
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.290.320.400.340.420.390.410.390.410.390.360.39
Free Cash Flow / Operating Cash Flow Ratio
110.210.520.650.630.990.980.6810.750.65
Cash Flow Coverage Ratio
0.060.080.120.090.100.090.080.080.090.080.070.09
Short Term Coverage Ratio
N/AN/AN/A20.16N/AN/AN/AN/A1.75N/A2.47N/A
Dividend Payout Ratio
189.41%210.28%131.40%113.86%100.81%1070.78%131.03%810.00%117.40%361.59%190.10%100.81%