Boston Properties Ltd Partnership earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026
Q3 2026 Revenue up 5% year over year to $911M · 13¢ of every $1 of revenue kept as net profit · operating margin 32.5%
Boston Properties Ltd Partnership made $911M in Q3 2026 (+5% Y/Y). Operating margin 32.5%, net earnings $114M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Revenue$911M
Year over year+5%
Operating margin32.5%
Net earnings$114M
Operating cash flow—
Drawing the Sankey…
Open the interactive Sankey →click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $911.4M in Q3 2026, up 5% year over year.
Gross margin was 60.6%, up 1.3 points from Q3 2025. Operating profit was $295.8M, a 32.5% margin (up 3.5 points year over year). Of the extra revenue versus Q3 2025, 108% reached operating profit, above the 29% margin then. Operating expenses fell 3% while revenue rose 5%. Net earnings were $114.5M. The effective tax rate was 0.0%.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 6, 2026
$911M
+5%
32.5%
$114M
—
Q2 2026
10-Q
Aug 6, 2026
$896M
+3%
28.9%
$68.6M
$446M
Q1 2026
10-Q
May 7, 2026
$872M
+0.8%
26.1%
$102M
$156M
Q3 2025
10-Q
Nov 7, 2025
$872M
+1%
29.0%
−$117M
$274M
Q2 2025
10-Q
Aug 6, 2025
$868M
+2%
29.5%
$89.0M
$353M
Q1 2025
10-Q
May 6, 2025
$865M
+3%
28.7%
$61.2M
$210M
Charts
Latest (Q3 2026): Y/Y +5%, Q/Q +2%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q3 2026): Net income $155M, Operating cash flow —.+12.4% since FY2009: more shares outstanding (issuance, stock pay).Cash $1.8B, short-term investments —, long-term debt $4.2B at 2014-12-31.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
BXP is a fully integrated, self-administered and self-managed REIT. BXP is the sole general partner of BPLP, its operating partnership, and at June 30, 2026, owned an approximate 89.9 % ( 89.7 % at December 31, 2025) general and limited partnership interest in BPLP. Unless stated otherwise or the context requires, the “Company” refers to BXP and its subsidiaries, including BPLP and its consolidated subsidiaries. Partnership interests in BPLP include:
In its own words, from its 10-Q, filed Aug 6, 2026.
Boston Properties Ltd Partnership against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +11%. Operating margin: 32.5% against the peers' median 20.6%.