BXP, Inc.

DB:BO9 Stock Report

Market Cap: €12.3b

BXP Valuation

Is BO9 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BO9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€112.74
Fair Value
37.8% undervalued intrinsic discount
18
Number of Analysts

Below Fair Value: BO9 (€70.08) is trading below our estimate of fair value (€112.74)

Significantly Below Fair Value: BO9 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BO9?

Key metric: As BO9 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BO9. This is calculated by dividing BO9's market cap by their current revenue.
What is BO9's PS Ratio?
PS Ratio3.8x
SalesUS$3.05b
Market CapUS$12.76b

Price to Sales Ratio vs Peers

How does BO9's PS Ratio compare to its peers?

The above table shows the PS ratio for BO9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7x
AOX alstria office REIT-AG
4.1x-1.5%€992.8m
VNO Vornado Realty Trust
4.4x3.1%US$8.8b
GFC Gecina
8.6x-1.0%€7.0b
8951 Nippon Building Fund
10.8x-1.3%JP¥1.1t
BO9 BXP
3.8x4.8%€12.8b

Price-To-Sales vs Peers: BO9 is good value based on its Price-To-Sales Ratio (3.8x) compared to the peer average (7x).

Price to Sales Ratio vs Industry

How does BO9's PS Ratio compare vs other companies in the European Office REITs Industry?

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
BO9 3.8xIndustry Avg. 7.9xNo. of Companies4PS048121620+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BO9 is good value based on its Price-To-Sales Ratio (3.8x) compared to the European Office REITs industry average (7.8x).

Price to Sales Ratio vs Fair Ratio

What is BO9's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BO9 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.8x
Fair PS Ratio8.9x

Price-To-Sales vs Fair Ratio: BO9 is good value based on its Price-To-Sales Ratio (3.8x) compared to the estimated Fair Price-To-Sales Ratio (8.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BO9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€70.48
€78.78
+11.8%
11.9%€96.47€59.81n/a18
Jan ’26€70.76
€81.20
+14.8%
11.5%€101.38€59.86n/a19
Dec ’25€77.36
€79.38
+2.6%
12.2%€100.04€59.07n/a19
Nov ’25€72.84
€74.54
+2.3%
13.6%€96.68€57.09n/a19
Oct ’25€72.02
€68.16
-5.4%
10.4%€81.89€55.79n/a19
Sep ’25€67.92
€65.06
-4.2%
9.5%€81.87€55.78n/a19
Aug ’25€64.74
€65.16
+0.7%
10.0%€84.33€57.46n/a19
Jul ’25€56.40
€65.01
+15.3%
10.0%€85.03€57.93n/a19
Jun ’25€55.60
€65.44
+17.7%
9.6%€83.87€57.15n/a19
May ’25€58.08
€67.79
+16.7%
8.7%€85.25€58.08n/a19
Apr ’25€60.44
€67.62
+11.9%
9.7%€84.72€56.79n/a19
Mar ’25€61.12
€67.17
+9.9%
9.6%€84.09€56.37n/a19
Feb ’25€59.84
€68.08
+13.8%
10.9%€87.40€56.12€70.4819
Jan ’25€64.74
€63.31
-2.2%
15.6%€86.05€47.10€70.7618
Dec ’24€58.10
€60.23
+3.7%
16.2%€86.70€47.46€77.3618
Nov ’24€50.54
€64.40
+27.4%
15.2%€89.82€49.17€72.8418
Oct ’24€56.34
€65.88
+16.9%
14.8%€89.89€49.20€72.0216
Sep ’24€61.82
€64.18
+3.8%
15.6%€90.72€48.14€67.9215
Aug ’24€58.74
€56.66
-3.5%
18.5%€87.49€46.43€64.7415
Jul ’24€52.60
€60.44
+14.9%
20.4%€90.51€48.03€56.4016
Jun ’24€44.65
€61.08
+36.8%
19.7%€91.08€48.33€55.6018
May ’24€48.30
€61.10
+26.5%
18.8%€88.94€47.19€58.0818
Apr ’24€49.64
€64.44
+29.8%
16.9%€90.35€47.94€60.4419
Mar ’24€60.72
€75.62
+24.5%
14.0%€101.14€61.44€61.1218
Feb ’24€67.65
€72.07
+6.5%
14.4%€97.40€59.17€59.8418
Analyst Price Target
Consensus Narrative from 18 Analysts
€78.25
Fair Value
10.4% undervalued intrinsic discount
18
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/31 05:34
End of Day Share Price 2025/01/31 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

BXP, Inc. is covered by 43 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David RodgersBaird
Ross SmotrichBarclays
Brendan LynchBarclays