BXP Inc (BXP) is overvalued and COPT Defense Properties (CDP) is overvalued.
Both trade above our estimate of their intrinsic value. CDP is the closer of the two: -188%, against -435% for BXP.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.1% (average of 3 methods) values the shares at $12.02; the price of $64.31 is 435% above that value, and 82% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
Discounting its cash flows at 8.2% (average of 3 methods) values the shares at $11.92; the price of $34.34 is 188% above that value, and 79% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
| Metric | BXP | CDP |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $64.31 | $34.34 |
| Intrinsic value | $12.02 | $11.92 |
| Margin of safety | -435% | -188% |
| Leak Score | 0/100 (2/12) | 14/100 (3/12) |
| Market cap | $11.2B | $7.8B |
| Revenue growth, 5 years | 4.7% | 5.6% |
| Operating margin | 28.3% | 30.3% |
| Net margin | 8.4% | 20.9% |
| Return on equity | 5.7% | 10.8% |
| Debt to equity | 3.17 | 1.75 |
| P/E | 34.5x | 23.9x |
| Forward P/E | 32.0x | 23.3x |
| P/B | 2.0x | 2.5x |
| Dividend yield | 4.4% | 3.7% |