Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price61.71 USD
Fair value56.03
Ethical score10.0/100
RatingAVOID
Our investment reviews on this name
2026-10-02Read Markdown61.71+0.0% to today
2026-08-24Read Distribution68.81-10.3% to today ✓
2026-07-02Read Accumulation62.33-1.0% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
BXP, Inc. holds its Markdown at $61.71. Consolidating, no directional conviction, held for 2 days.
As held on the ledger · 2026-09-29
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 2 days
Price at the screen
$61.71
Valuation
33.18 trailing · 27.76 forward price to earnings
Values screen
FAIL· score 10.0
Beta
1.03
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
66.34%
Below 33%
Interest-bearing debt is 66.3% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
3.99%
Below 33%
Cash held in interest-bearing accounts and securities is 4.0% of assets, under the one-third limit.
Pass
Receivables
6.00%
Below 49%
Money owed to the company is 6.0% of assets, under the 49% limit.
Pass
Revenue purity
1.03%
Below 5%
Only 1.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
BXP,'s business is in a permissible area, but its interest-bearing debt is about 66% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads AVOID: it trades above our $56.03 fair value estimate, narrow competitive moat, 3.70% revenue growth.
Fair value range in USD, drawn from the 2026-09-29 screen. The gold marker is the market price at the same screen. The price runs 9.2% above the base estimate.
Third-party analyst targets: 20 covering, consensus Buy. The average target sits +24% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-29 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Premium offices priced well above their worth
Picture a landlord in New York or San Francisco still quoting boom-time rents while occupancy slips and interest costs climb. BXP owns the best addresses in six gateway cities yet trades at 34 times forward earnings on just 1 percent revenue growth and a 6 percent return on equity. The narrow moat cannot justify that multiple, and the ethical screen already flags excessive debt as a hard fail.
We pass for two clear reasons. First, the price sits 36 percent above our fair value with no growth to close the gap. Second, the balance sheet carries too much leverage for a business that must refinance regularly in uncertain property markets. Analyst targets may cluster around the current quote, but those forecasts ignore the structural pressure on office demand.
The combination of stretched valuation, thin margins and the debt breach leaves little margin for error if vacancies rise or rates stay higher for longer. Analysis, not advice.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
BXP trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markdown · changed$61.71-10.3%Entry 6
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 10.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 5%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (20 analysts) rates it buy, with a mean price target of $69.
The framework has shifted from accumulation to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 1.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 5%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (20 analysts) rates it buy, with a mean price target of $69.
2026-07-24Accumulation$69.85+12.1%Entry 4
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 12.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 5%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (20 analysts) rates it buy, with a mean price target of $69.
2026-07-18Accumulation$62.33+0.0%Entry 3
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 5%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (20 analysts) rates it buy, with a mean price target of $69.
2026-07-03Accumulation$62.33+0.0%Entry 2
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Accumulation$62.33Entry 1
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
