Agree Realty Corporation (ADC) vs BXP, Inc. (BXP)
A side-by-side comparison of Agree Realty Corporation and BXP, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
Total return — ADC vs BXP
growth of $100 · dividends reinvested · last 10yADC vs BXP: by the numbers
- •BXP is the larger company ($10.21B vs $8.05B market cap).
- •ADC converts more revenue to profit (28.87% vs 8.44% net margin).
- •ADC grew revenue faster over the past five years (21.41% vs 4.77% CAGR).
- •ADC pays the higher dividend yield (4.44% vs 4.33%).
Metrics side by side
Valuation
| Metric | ADC | BXP |
|---|---|---|
| P/E ratio | 36.02 | 34.41 |
| Forward P/E | 35.27 | 30.15 |
| P/S ratio | 10.32 | 2.90 |
| P/B ratio | 1.23 | 1.98 |
| EV / EBITDA | 18.18 | 12.00 |
| FCF yield | N/A | 3.53% |
For REITs like Agree Realty Corporation, GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like BXP, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | ADC | BXP |
|---|---|---|
| Gross margin | 87.73% | 60.56% |
| Operating margin | 48.35% | 55.71% |
| Net margin | 28.87% | 8.44% |
| ROE | 3.45% | 5.75% |
| ROIC | 3.56% | 4.89% |
Dividends
| Metric | ADC | BXP |
|---|---|---|
| Dividend yield | 4.44% | 4.33% |
| Payout ratio | 170.05% | 150.54% |
Agree Realty Corporation's payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
BXP, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | ADC | BXP |
|---|---|---|
| Revenue CAGR (5Y) | 21.41% | 4.77% |
| EPS CAGR (5Y) | 0.11% | -20.68% |
| FCF CAGR (5Y) | 22.56% | -15.57% |
| Total return CAGR (5Y) | 4.69% | -5.00% |
Frequently asked
- Which has grown faster, ADC or BXP?
- Over the past five years, ADC grew revenue faster — ADC at a 21.41% CAGR versus BXP at 4.77%.
- Does ADC or BXP pay a bigger dividend?
- ADC yields 4.44% and BXP yields 4.33% based on trailing dividends and the latest price.
- Is ADC or BXP more profitable?
- ADC runs the higher net margin — ADC at 28.87% versus BXP at 8.44%.
- How have ADC and BXP total returns compared?
- Over the past 10 years, ADC delivered 8.61% and BXP delivered -3.20% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Agree Realty & BXP appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.