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Boston Properties (Boston Properties) Cyclically Adjusted Price-to-FCF : 7.64 (As of Apr. 27, 2024)


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What is Boston Properties Cyclically Adjusted Price-to-FCF?

As of today (2024-04-27), Boston Properties's current share price is $61.51. Boston Properties's Cyclically Adjusted FCF per Share for the quarter that ended in Dec. 2023 was $8.05. Boston Properties's Cyclically Adjusted Price-to-FCF for today is 7.64.

The historical rank and industry rank for Boston Properties's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

BXP' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 6.19   Med: 33.34   Max: 613.11
Current: 7.64

During the past years, Boston Properties's highest Cyclically Adjusted Price-to-FCF was 613.11. The lowest was 6.19. And the median was 33.34.

BXP's Cyclically Adjusted Price-to-FCF is ranked better than
70% of 390 companies
in the REITs industry
Industry Median: 11.545 vs BXP: 7.64

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Boston Properties's adjusted free cash flow per share data for the three months ended in Dec. 2023 was $2.462. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is $8.05 for the trailing ten years ended in Dec. 2023.

Shiller PE for Stocks: The True Measure of Stock Valuation


Boston Properties Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Boston Properties's Cyclically Adjusted Price-to-FCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Boston Properties Cyclically Adjusted Price-to-FCF Chart

Boston Properties Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 29.48 16.03 16.66 8.85 8.72

Boston Properties Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Cyclically Adjusted Price-to-FCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.85 7.02 7.24 7.41 8.72

Competitive Comparison of Boston Properties's Cyclically Adjusted Price-to-FCF

For the REIT - Office subindustry, Boston Properties's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Boston Properties's Cyclically Adjusted Price-to-FCF Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Boston Properties's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Boston Properties's Cyclically Adjusted Price-to-FCF falls into.



Boston Properties Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

Boston Properties's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=61.51/8.05
=7.64

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Boston Properties's Cyclically Adjusted FCF per Share for the quarter that ended in Dec. 2023 is calculated as:

For example, Boston Properties's adjusted Free Cash Flow per Share data for the three months ended in Dec. 2023 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=2.462/129.4194*129.4194
=2.462

Current CPI (Dec. 2023) = 129.4194.

Boston Properties Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201403 0.811 99.695 1.053
201406 1.206 100.560 1.552
201409 1.048 100.428 1.351
201412 1.471 99.070 1.922
201503 1.309 99.621 1.701
201506 1.571 100.684 2.019
201509 1.078 100.392 1.390
201512 1.238 99.792 1.606
201603 2.267 100.470 2.920
201606 1.528 101.688 1.945
201609 1.036 101.861 1.316
201612 1.888 101.863 2.399
201703 1.555 102.862 1.956
201706 0.810 103.349 1.014
201709 1.425 104.136 1.771
201712 2.116 104.011 2.633
201803 1.459 105.290 1.793
201806 2.168 106.317 2.639
201809 1.356 106.507 1.648
201812 2.453 105.998 2.995
201903 1.338 107.251 1.615
201906 2.314 108.070 2.771
201909 1.642 108.329 1.962
201912 2.332 108.420 2.784
202003 1.128 108.902 1.341
202006 2.439 108.767 2.902
202009 1.466 109.815 1.728
202012 2.404 109.897 2.831
202103 0.974 111.754 1.128
202106 2.609 114.631 2.946
202109 1.446 115.734 1.617
202112 2.216 117.630 2.438
202203 1.398 121.301 1.492
202206 2.527 125.017 2.616
202209 1.882 125.227 1.945
202212 2.355 125.222 2.434
202303 1.490 127.348 1.514
202306 2.412 128.729 2.425
202309 1.920 129.860 1.913
202312 2.462 129.419 2.462

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Boston Properties  (NYSE:BXP) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


Boston Properties Cyclically Adjusted Price-to-FCF Related Terms

Thank you for viewing the detailed overview of Boston Properties's Cyclically Adjusted Price-to-FCF provided by GuruFocus.com. Please click on the following links to see related term pages.


Boston Properties (Boston Properties) Business Description

Industry
Traded in Other Exchanges
Address
800 Boylston Street, Suite 1900, Prudential Center, Boston, MA, USA, 02199-8103
Boston Properties owns over 190 properties consisting of approximately 54 million rentable square feet of space. The portfolio is dominated by office buildings and is spread across major cities such as New York, Boston, San Francisco, Los Angeles, Seattle, and the Washington, D.C., region. The real estate investment trust also owns limited retail, hotel, and residential properties.
Executives
Eric G Kevorkian officer: SVP, CLO and Secretary 800 BOYLSTON STREET, SUITE 1900, BOSTON MA 02199
Rodney Diehl officer: Senior Vice President FOUR EMBARCADERO CENTER, SAN FRANCISCO CA 94549
Raymond A Ritchey officer: Executive Vice President BOSTON PROPERTIES, INC., 901 NEW YORK AVENUE, NW, WASHINGTON DC 20001
Peter V Otteni officer: Senior Vice President 2200 PENNSYLVANIA AVENUE NW, SUITE 200W, WASHINGTON DC 20037
Carol B. Einiger director POST ROCK ADVISORS, LLC, ONE ROCKEFELLER PLAZA, 28TH FLOOR, NEW YORK NY 10020
Tony West director 1455 MARKET STREET, 4TH FLOOR, SAN FRANCISCO CA 94103
Matthew J Lustig director LAZARD FRERES & CO LLC, 30 ROCKEFELLER PLZA 50TH FL, NEW YORK NY 10020
Donna D Garesche officer: EVP, Chief HR Officer C/O BOSTON PROPERTIES, INC., 800 BOYLSTON STREET, BOSTON MA 02199
Hilary J. Spann officer: Executive Vice President 599 LEXINGTON AVENUE, 16TH FLOOR, NEW YORK NY 10022
Mary E Kipp director 100 N STANTON, EL PASO TX 79901
Douglas T Linde officer: SVP & CFO BOSTON PROPERTIES, INC., 800 BOYLSTON STREET, BOSTON MA 02199
Frank D Burt officer: Senior Vice President BOSTON PROPERTIES, INC., 800 BOYLSTON STREET, BOSTON MA 02199
John J Stroman officer: Senior Vice President 2200 PENNSYLVANIA AVENUE NW, SUITE 200W, WASHINGTON DC 20037
Bryan J Koop officer: Senior Vice President BOSTON PROPERTIES, INC., 800 BOYLSTON STREET, BOSTON MA 02199
Bruce W Duncan director ONE NORTH WACKER DRIVE, SUITE 4200, CHICAGO IL 60606