Physics-based compact models provide insight into the relations between the layout, doping profiles and electrical parameters and therefore form a language for communication between process development and circuit design. This chapter looks at the physics of modern integrated bipolar junction transistors with particular emphasis on the derivation of closed-form expressions for their terminal behavior, which are required for the formulation of compact models. On the basis of these results, the most prominent compact models for large-signal and small-signal operation will be considered, together with a presentation of parameter extraction procedures.