WallStSmart

BXP, Inc. (BXP)vsCOPT Defense Properties (CDP)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

BXP, Inc. generates 309% more annual revenue ($3.23B vs $788.06M). CDP leads profitability with a 20.8% profit margin vs 9.2%. CDP appears more attractively valued with a PEG of 1.03. CDP earns a higher WallStSmart Score of 66/100 (B-).

BXP

Hold

48

out of 100

Grade: D+

Growth: 3.3Profit: 6.0Value: 5.3Quality: 2.5
Piotroski: 3/9Altman Z: 0.51

CDP

Strong Buy

66

out of 100

Grade: B-

Growth: 5.3Profit: 7.5Value: 6.7Quality: 4.0
Piotroski: 2/9Altman Z: 0.42
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

BXPUndervalued (+47.0%)

Margin of Safety

+47.0%

Fair Value

$116.65

Current Price

$69.71

$46.94 discount

UndervaluedFair: $116.65Overvalued
CDPUndervalued (+18.5%)

Margin of Safety

+18.5%

Fair Value

$39.73

Current Price

$37.14

$2.59 discount

UndervaluedFair: $39.73Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

BXP2 strengths · Avg: 8.0/10
Price/BookValuation
2.2x8/10

Reasonable price relative to book value

Operating MarginProfitability
28.8%8/10

Strong operational efficiency at 28.8%

CDP3 strengths · Avg: 9.0/10
Operating MarginProfitability
32.2%10/10

Strong operational efficiency at 32.2%

Profit MarginProfitability
20.8%9/10

Keeps 21 of every $100 in revenue as profit

Price/BookValuation
2.7x8/10

Reasonable price relative to book value

Areas to Watch

BXP4 concerns · Avg: 3.5/10
P/E RatioValuation
37.7x4/10

Premium valuation, high expectations priced in

Revenue GrowthGrowth
3.8%4/10

3.8% revenue growth

Return on EquityProfitability
6.2%3/10

ROE of 6.2% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

CDP4 concerns · Avg: 3.3/10
P/E RatioValuation
26.4x4/10

Moderate valuation

Revenue GrowthGrowth
3.9%4/10

3.9% revenue growth

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

Free Cash FlowQuality
$-102.65M2/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : BXP

The strongest argument for BXP centers on Price/Book, Operating Margin.

Bull Case : CDP

The strongest argument for CDP centers on Operating Margin, Profit Margin, Price/Book. Profitability is solid with margins at 20.8% and operating margin at 32.2%. PEG of 1.03 suggests the stock is reasonably priced for its growth.

Bear Case : BXP

The primary concerns for BXP are P/E Ratio, Revenue Growth, Return on Equity. Debt-to-equity of 3.10 is elevated, increasing financial risk.

Bear Case : CDP

The primary concerns for CDP are P/E Ratio, Revenue Growth, Piotroski F-Score.

Key Dynamics to Monitor

BXP carries more volatility with a beta of 1.04 — expect wider price swings.

CDP is growing revenue faster at 3.9% — sustainability is the question.

CDP generates stronger free cash flow (-103M), providing more financial flexibility.

Monitor REIT - OFFICE industry trends, competitive dynamics, and regulatory changes.

Bottom Line

CDP scores higher overall (66/100 vs 48/100), backed by strong 20.8% margins. BXP offers better value entry with a 47.0% margin of safety. Both earn "Strong Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

BXP, Inc.

REAL ESTATE · REIT - OFFICE · USA

Boston Properties, Inc. is a publicly traded real estate investment trust that invests in office buildings in Boston, Los Angeles, New York City, San Francisco, and Washington, D.C.

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COPT Defense Properties

REAL ESTATE · REIT - OFFICE · USA

COPT Defense Properties (CDP) is a niche real estate investment trust (REIT) dedicated to the acquisition, development, and management of properties that serve defense and government contractors. With a strategic focus on locations near critical defense installations, CDP is well-positioned to deliver stable, long-term cash flows that align with its tenants' needs amid a dynamic geopolitical landscape. The company’s disciplined capital allocation and robust development pipeline underscore its commitment to maximizing shareholder value while actively supporting national security initiatives.

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