Alexandria Real Estate Equities vs BXP
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The short version
- BXP is the larger business, with $3.5B of revenue in fiscal 2025 against $3.0B for Alexandria Real Estate Equities.
- BXP grew revenue faster (2.2%, against β2.9%).
| Latest fiscal year | ARE Β· FY25 | BXP Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.3B | $9.9B |
| Revenue | $3.0B | $3.5B |
| Free cash flow | β$457M | β |
| Net income | β$1.4B | $277M |
| Growth | ||
| Revenue growth | β2.9% | 2.2% |
| 5-year growth | 9.9% | 4.7% |
| Share count change | β1.0% | 0.7% |
| Profitability | ||
| Gross margin | β | 59.1% |
| Operating margin | β | β |
| Net margin | β47.2% | 8.0% |
| FCF margin | β15.1% | β |
| Return on capital | β | β |
| Return on equity | β8.6% | 5.2% |
| Balance sheet | ||
| Net debt | $11.9B | β |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $1.1B | $643M |
| Valuation & quality | ||
| P/E | β | 33.4x |
| Piotroski F-score | β | β |
Revenue
FY16
ARE $922M
BXP $2.6B
FY17
ARE $1.1B
BXP $2.6B
FY18
ARE $1.3B
BXP $2.7B
FY19
ARE $1.5B
BXP $3.0B
FY20
ARE $1.9B
BXP $2.8B
FY21
ARE $2.1B
BXP $2.9B
FY22
ARE $2.6B
BXP $3.1B
FY23
ARE $2.9B
BXP $3.3B
FY24
ARE $3.1B
BXP $3.4B
FY25
ARE $3.0B
BXP $3.5B
ARE
BXP
Operating margin
FY16
ARE β
BXP 32.4%
FY17
ARE β
BXP 34.9%
FY18
ARE β
BXP β
FY19
ARE β
BXP β
FY20
ARE β
BXP β
FY21
ARE β
BXP β
FY22
ARE β
BXP β
FY23
ARE β
BXP β
FY24
ARE β
BXP β
FY25
ARE β
BXP β
ARE
BXP
Free cash flow
FY16
ARE β$428M
BXP β
FY17
ARE β$443M
BXP β
FY18
ARE β$357M
BXP β
FY19
ARE β$541M
BXP β
FY20
ARE β$563M
BXP β
FY21
ARE β$1.1B
BXP β
FY22
ARE β$2.0B
BXP β
FY23
ARE β$1.8B
BXP β
FY24
ARE β$918M
BXP β
FY25
ARE β$457M
BXP β
ARE
BXP
Return on capital
FY16
ARE β
BXP β
FY17
ARE β
BXP β
FY18
ARE β
BXP β
FY19
ARE β
BXP β
FY20
ARE β
BXP β
FY21
ARE β
BXP β
FY22
ARE β
BXP β
FY23
ARE β
BXP β
FY24
ARE β
BXP β
FY25
ARE β
BXP β
ARE
BXP
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.