ESBA vs ALX vs BXP Stock Comparison

Empire State Realty OP, Alexanders and Bxp Prices as of Oct 26, 2026 Peers: Industry group
ALX Alexanders Inc
$251.07 +1.4% 1M +7.0% 1Y
Market cap
$1.28B
P/E
7.6x
Revenue (TTM)
$214.80M
Div. yield
0.07%
Office REITs Real Estate
6 wins
BXP BXP, Inc.
$62.26 -1.8% 1M -16.1% 1Y
Market cap
$9.85B
P/E
33.2x
Revenue (TTM)
$3.52B
Div. yield
–
Office REITs Real Estate
2 wins

Head to Head

10 decided of 12

Alexanders leads on 6 of the 12 questions below (Alexanders 6, Bxp 2, Empire State Realty OP 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionESBAALXBXPLeader
Larger companyMarket capitalisation $1.31B $1.28B $9.85B BXP
Cheaper on earningsLower P/E, profitable companies only 258.5x 7.6x 33.2x ALX
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 29.7x 30.8x ALX
Faster revenue growthRevenue growth, trailing twelve months +2.0% -1.5% +1.9% ESBA
More profitableNet margin, trailing twelve months 0.6% 79.1% 8.4% ALX
Better return on capitalReturn on invested capital -1.1% — — –
Less leveragedLower net debt / EBITDA 5.0x — 7.5x ESBA
Higher dividend yieldTrailing dividend yield 0.00% 0.07% 0.00% –
Better 1-year returnPrice return, last 12 months -39.1% +7.0% -16.1% ALX
Better 5-year returnAnnualised price return, 5 years -14.3%/yr -2.3%/yr -11.6%/yr ALX
Less volatileAnnualised volatility, 1 year 51.8% 28.0% 28.2% ALX
Higher overall scoreMean of the five percentile scores vs peers 33/100 36/100 49/100 BXP

Percentile Scorecard

ESBAALXBXP

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisESBAALXBXP
Valuation 69 #45 of 145 31 #101 of 145 71 #43 of 145
Growth 2 #139 of 142 34 #94 of 142 43 #81 of 142
Profitability 26 #101 of 136 44 #76 of 136 64 #50 of 136
Financial Health 60 #56 of 139 9 #126 of 139 23 #108 of 139
Shareholder Returns 9 #120 of 131 59 #54 of 131 46 #71 of 131
Overall 33 36 49
  • ESBA ranked among 149 companies in Property REITs
  • ALX ranked among 149 companies in Property REITs
  • BXP ranked among 149 companies in Property REITs

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodESBAALXBXPSPY
1 month +20.8%+1.4%-1.8% -0.8%
3 months -13.1%-6.2%-10.0% +3.5%
6 months -13.7%+2.5%+7.3% +7.0%
Year to date -23.3%+15.2%-7.7% +12.2%
1 year -39.1%+7.0%-16.1% +13.0%
3 years -38.8%+40.1%+18.8% +86.3%
3 years, per year -15.1%+11.9%+5.9% +23.1%
5 years -53.8%-10.9%-46.0% +68.6%
5 years, per year -14.3%-2.3%-11.6% +11.0%
10 years -75.4%-35.0%-49.3% +258.0%
10 years, per year -13.1%-4.2%-6.6% +13.6%

Risk

MeasureESBAALXBXPSPY
Volatility, 1Y 51.8%28.0%28.2% 12.7%
Downside volatility, 1Y 61.1%30.5%29.8% 12.7%
Beta vs S&P 500, 1Y 0.420.230.67 1.00
Return / volatility, 1Y -0.750.25-0.57 1.02
Max drawdown, 5Y -66.4%-44.5%-64.5% -25.4%
From 52-week high -37.7%-12.4%-16.5% -1.8%
52-week high $7.75$286.59$74.53 $779.14
52-week low $3.85$205.15$51.02 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleESBAALXBXP
P/E now vs peer median 256.9xmedian 27.4x 7.6xmedian 27.4x 33.4xmedian 27.4x
P/S now vs peer median 1.7xmedian 4.2x 6.0xmedian 4.2x 2.8xmedian 4.2x
EV/EBITDA now vs peer median 12.5xmedian 14.2x —median 14.2x 12.7xmedian 14.2x
P/FCF now vs peer median -3.0xmedian 23.2x 88.3xmedian 23.2x -99.1xmedian 23.2x
P/B now vs peer median 0.7xmedian 1.3x 5.7xmedian 1.3x 1.3xmedian 1.3x
PEG now vs peer median -4.30median 2.11 0.43median 2.11 -1.42median 2.11

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsESBAALXBXP
Revenue $784.18M $214.80M $3.52B
Gross profit – – $3.48B
Operating income -$34.52M – $957.71M
Net income $9.26M $169.82M $408.55M
Free cash flow -$437.31M $14.53M -$100.19M
EPS (diluted) $0.02 $33.05 $1.86
Cash & equivalents $85.61M $303.31M $493.95M
Total debt $4.54B $3.48B $14.64B
Shares (diluted) 268.95M 5.14M 159.63M
Enterprise value $865.89M $488.75M $6.50B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricESBAALXBXP
P/E 256.9x 7.6x 33.4x
P/FCF -3.0x 88.3x -99.1x
P/Operating cash flow 5.7x 47.2x 7.7x
P/S 1.7x 6.0x 2.8x
P/B 0.7x 5.7x 1.3x
P/Tangible book 0.7x 5.7x 1.3x
EV/EBITDA 12.5x – 12.7x
EV/EBIT -62.8x – 25.1x
EV/Revenue 2.8x 8.4x 6.8x
EV/FCF -5.0x 124.8x -240.3x
EV/Operating cash flow 9.5x 66.8x 18.7x
PEG (3Y EPS CAGR) -4.30 0.43 -1.42

Growth

14 metrics
MetricESBAALXBXP
Revenue growth (1Y) 2.0% -1.5% 1.9%
Revenue CAGR (3Y) 2.9% 0.2% 3.2%
Gross profit growth (1Y) – – 1.9%
Gross profit CAGR (3Y) – – 3.2%
Operating income growth (1Y) -123.1% – -3.4%
Operating income CAGR (3Y) -31.0% – -1.5%
Net income growth (1Y) -86.5% 354.2% 432.8%
Net income CAGR (3Y) -51.3% 17.9% -20.7%
EPS growth (1Y) -92.1% 354.0% 5,891%
EPS CAGR (3Y) -59.8% 17.8% -23.6%
Operating cash flow growth (1Y) -13.3% -68.1% 4.2%
Operating cash flow CAGR (3Y) -0.8% -28.8% 0.1%
Free cash flow growth (1Y) -169.4% -74.4% -303.9%
Free cash flow CAGR (3Y) -149.9% -38.2% 27.3%

Profitability

14 metrics
MetricESBAALXBXP
Gross margin – – 99.0%
EBITDA margin 22.1% – 53.8%
Operating margin -4.4% – 27.2%
Pretax margin 1.3% – 10.2%
Net margin 0.6% 79.1% 8.4%
FCF margin -55.8% 6.8% -2.8%
Operating cash flow margin 29.0% 12.6% 36.5%
Return on equity 0.5% – 5.4%
Return on assets 0.2% – 1.6%
Return on invested capital -1.1% – –
Return on capital employed – – –
Asset turnover 0.2x 0.2x 0.1x
Cash conversion (OCF / net income) 24.6x 0.2x 3.1x
Stock comp / revenue 3.9% – 1.4%

Financial Health

11 metrics
MetricESBAALXBXP
Debt / assets 22.4% 69.4% 58.2%
Debt / equity 0.5x 3.7x 1.9x
Net debt / EBITDA 5.0x – 7.5x
Debt / FCF -2.2x 57.4x -146.1x
Liabilities / assets 58.1% 81.4% 69.3%
Equity / assets 41.9% 18.6% 30.7%
Interest coverage -0.3x – 1.5x
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricESBAALXBXP
Dividend yield 3.3% 7.2% 4.5%
Net buyback yield – – 0.0%
Shareholder yield 3.3% 7.2% 4.5%
Payout ratio (earnings) – 54.4% –
Payout ratio (FCF) – 636.3% –
Dividend growth (1Y) – 0.0% –
Dividend CAGR (3Y) – 0.1% –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusESBAALXBXP
Forward P/E – 29.7xFY2027 30.8xFY2026
EPS, next fiscal year – $8.44FY2027 $2.02FY2026
EPS growth, next FY – -31.2%FY2027 +16.1%FY2026
EPS growth, the year after – – -9.9%
Revenue, next fiscal year – $259.67MFY2026 $3.35BFY2026
Revenue growth, next FY – +21.8%FY2026 -3.8%FY2026
Revenue growth, the year after – -8.1% +14.8%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersESBAALXBXP
Held by institutions – 38.9% 100.0%
Institutions holding – 153 548
Change in shares held, QoQ – +2.7% +5.2%
Institutions buying – 71 295
Institutions selling – 50 166
Buyers to sellers – 1.42 1.78

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

ESBAALXBXP
ESBA 1.00 0.21 0.30
ALX 0.21 1.00 0.38
BXP 0.30 0.38 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ESBA, ALX and BXP?

Bxp (BXP) is the largest by market capitalisation: Empire State Realty OP (ESBA) $1.31B, Alexanders (ALX) $1.28B, Bxp (BXP) $9.85B.

Which stock is cheaper, ESBA, ALX and BXP?

Alexanders (ALX) trades on the lowest price-to-earnings ratio (Empire State Realty OP (ESBA) 258.5x, Alexanders (ALX) 7.6x, Bxp (BXP) 33.2x). On next year's consensus earnings, Alexanders (ALX) is cheapest (Alexanders (ALX) 29.7x, Bxp (BXP) 30.8x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Empire State Realty OP (ESBA) grew revenue fastest over the trailing twelve months: Empire State Realty OP (ESBA) +2.0%, Alexanders (ALX) -1.5%, Bxp (BXP) +1.9%.

Which company is more profitable?

Alexanders (ALX) has the highest net margin (Empire State Realty OP (ESBA) 0.6%, Alexanders (ALX) 79.1%, Bxp (BXP) 8.4%).

Which stock has performed better?

Over the past year Alexanders (ALX) returned the most: Empire State Realty OP (ESBA) -39.1%, Alexanders (ALX) +7.0%, Bxp (BXP) -16.1%. Over five years, Alexanders (ALX) compounded fastest (Empire State Realty OP (ESBA) -14.3%/yr, Alexanders (ALX) -2.3%/yr, Bxp (BXP) -11.6%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Empire State Realty OP (ESBA) 0.00%, Alexanders (ALX) 0.07%, Bxp (BXP) 0.00%. Empire State Realty OP (ESBA) and Bxp (BXP) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Alexanders (ALX) has been the steadiest (Empire State Realty OP (ESBA) 51.8%, Alexanders (ALX) 28.0%, Bxp (BXP) 28.2%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ESBA, ALX and BXP?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Alexanders (ALX) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.