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Franklin Street Properties (FSP) Financials

Franklin Street Properties logo
$0.43 +0.01 (+2.77%)
Closing price 10/22/2026 04:00 PM Eastern
Extended Trading
$0.43 0.00 (-0.91%)
As of 04:00 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Franklin Street Properties

Annual Income Statements for Franklin Street Properties

This table shows Franklin Street Properties' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 35 8.38 -16 13 6.48 33 93 1.09 -48 -53 -45
Consolidated Net Income / (Loss)		 35 8.38 -16 13 6.48 33 93 1.09 -48 -53 -45
Net Income / (Loss) Continuing Operations		 35 8.38 -16 6.28 6.48 33 92 1.09 -48 -53 -45
Total Pre-Tax Income 		35 8.80 -12 6.64 6.74 33 93 1.30 -48 -53 -45
Total Revenue		 244 250 222 230 232 252 176 166 146 121 108
Net Interest Income / (Expense)		 0.00 0.00 -32 -38 -37 -36 -32 0.00 0.57 2.09 0.99
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.57 2.09 0.99
Investment Securities Interest Income		 0.00 - - - - - 0.00 0.00 0.57 2.09 0.99
Total Interest Expense		 0.00 0.00 32 38 37 36 32 0.00 0.00 0.00 0.00
Total Non-Interest Income		 244 250 254 269 269 288 208 166 146 119 107
Other Service Charges		 6.01 - - - - - - - 0.26 0.03 0.00
Net Realized & Unrealized Capital Gains on Investments		 - - -18 0.00 0.00 42 -0.90 -0.08 -0.11 -1.04 -0.01
Other Non-Interest Income		 238 250 273 269 269 246 209 166 145 120 107
Total Non-Interest Expense		 232 242 232 224 226 219 83 160 194 174 153
Other Operating Expenses		 141 146 131 130 135 130 117 124 116 108 97
Depreciation Expense		 91 93 101 94 91 89 79 64 55 45 43
Impairment Charge		 - - - - - 0.00 -113 -28 23 21 13
Other Special Charges		 - 2.94 - - - - - 0.00 -0.39 0.00 0.00
Income Tax Expense		 0.43 0.42 0.40 0.36 0.27 0.25 0.64 0.20 0.28 0.22 0.19
Basic Earnings per Share		 $0.35 $0.08 ($0.15) $0.12 $0.06 $0.30 $0.87 $0.01 ($0.47) ($0.51) ($0.43)
Weighted Average Basic Shares Outstanding		 100.19M 102.84M 107.23M 107.23M 107.23M 107.30M 106.67M 103.34M 103.36M 103.51M 103.64M
Diluted Earnings per Share		 $0.35 $0.08 ($0.15) $0.12 $0.06 $0.30 $0.87 $0.01 ($0.47) ($0.51) ($0.43)
Weighted Average Diluted Shares Outstanding		 100.19M 102.84M 107.23M 107.23M 107.23M 107.30M 106.67M 103.34M 103.36M 103.51M 103.64M
Weighted Average Basic & Diluted Shares Outstanding		 100.19M 102.84M 107.23M 107.23M 107.23M 107.30M 104.00M 103.24M 103.43M 103.57M 103.69M
Cash Dividends to Common per Share		 $0.76 $0.76 $0.76 $0.46 $0.36 $0.36 $0.68 $0.20 $0.04 $0.04 $0.04

Quarterly Income Statements for Franklin Street Properties

This table shows Franklin Street Properties' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 3.58 -7.55 -21 -16 -8.53 -21 -7.88 -8.33 -7.32 -9.53 -17
Consolidated Net Income / (Loss)		 3.58 -7.55 -21 -16 -8.53 -21 -7.88 -8.33 -7.32 -9.53 -17
Net Income / (Loss) Continuing Operations		 3.58 -7.55 -21 -16 -8.53 -21 -7.88 -8.33 -7.32 -9.53 -17
Total Pre-Tax Income 		3.64 -7.49 -21 -16 -8.47 -21 -7.79 -8.32 -7.27 -9.47 -17
Total Revenue		 41 32 31 30 35 27 27 28 26 25 27
Net Interest Income / (Expense)		 6.37 1.01 0.35 0.34 7.24 0.26 0.25 0.25 0.23 0.16 0.16
Total Interest Income		 0.57 1.01 0.35 0.34 0.39 0.26 0.25 0.25 0.23 0.16 0.16
Investment Securities Interest Income		 0.57 1.01 0.35 0.34 0.39 0.26 0.25 0.25 0.23 0.16 0.16
Total Interest Expense		 -5.81 0.00 0.00 0.00 -6.85 0.00 0.00 0.00 - 0.00 0.00
Total Non-Interest Income		 35 31 31 29 28 27 27 27 26 25 26
Net Realized & Unrealized Capital Gains on Investments		 - -0.14 0.00 -0.48 -0.43 -0.00 -0.00 -0.01 - -1.27 0.00
Other Non-Interest Income		 35 31 31 30 28 27 27 27 26 26 26
Total Non-Interest Expense		 38 40 52 45 44 49 35 36 34 35 43
Other Operating Expenses		 34 28 27 27 33 25 25 25 23 24 25
Depreciation Expense		 12 12 11 11 11 11 11 11 11 11 10
Impairment Charge		 -8.70 0.01 13 7.25 0.37 13 -0.38 0.00 0.00 0.00 7.69
Income Tax Expense		 0.07 0.06 0.05 0.06 0.05 0.05 0.08 0.00 0.05 0.05 0.05
Basic Earnings per Share		 $0.03 ($0.07) ($0.20) ($0.15) ($0.09) ($0.21) ($0.08) ($0.08) ($0.06) ($0.09) ($0.16)
Weighted Average Basic Shares Outstanding		 103.36M 103.43M 103.48M 103.57M 103.51M 103.57M 103.61M 103.69M 103.64M 103.69M 103.81M
Diluted Earnings per Share		 $0.03 ($0.07) ($0.20) ($0.15) ($0.09) ($0.21) ($0.08) ($0.08) ($0.06) ($0.09) ($0.16)
Weighted Average Diluted Shares Outstanding		 103.36M 103.43M 103.48M 103.57M 103.51M 103.57M 103.61M 103.69M 103.64M 103.69M 103.81M
Weighted Average Basic & Diluted Shares Outstanding		 103.43M 103.43M 103.57M 103.57M 103.57M 103.57M 103.69M 103.69M 103.69M 103.69M 104.01M

Annual Cash Flow Statements for Franklin Street Properties

This table details how cash moves in and out of Franklin Street Properties' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 11 -8.82 0.45 1.36 -1.39 -5.64 37 -34 121 -85 -12
Net Cash From Operating Activities		 103 94 96 80 82 68 36 15 18 8.99 3.75
Net Cash From Continuing Operating Activities		 103 94 96 80 82 68 36 15 18 8.99 3.75
Net Income / (Loss) Continuing Operations		 35 8.38 -16 13 6.48 33 93 1.09 -48 -53 -45
Consolidated Net Income / (Loss)		 35 8.38 -16 13 6.48 33 93 1.09 -48 -53 -45
Depreciation Expense		 93 95 104 97 94 92 81 66 57 48 45
Amortization Expense		 -0.16 -0.50 -1.03 -0.56 -0.40 -0.31 -0.03 -0.12 -3.90 -0.37 0.00
Non-Cash Adjustments to Reconcile Net Income		 -25 -0.09 22 -5.48 -8.54 -43 -116 -33 24 24 13
Changes in Operating Assets and Liabilities, net		 -0.54 -8.63 -13 -24 -9.34 -12 -22 -22 -11 -9.77 -9.90
Net Cash From Investing Activities		 -38 -245 -5.09 26 -20 11 505 74 114 70 -10
Net Cash From Continuing Investing Activities		 -38 -245 -5.09 26 -20 11 505 74 114 70 -10
Purchase of Property, Leasehold Improvements and Equipment		 -22 -37 -54 -51 -71 -78 -65 -55 -32 -25 -16
Sale of Property, Leasehold Improvements and Equipment		 85 27 38 0.00 0.00 89 573 129 142 95 6.11
Other Investing Activities, net		 -25 37 10 1.06 50 0.00 -3.00 0.00 3.05 0.00 0.00
Net Cash From Financing Activities		 -54 142 -90 -104 -64 -85 -505 -123 -10 -164 -5.56
Net Cash From Continuing Financing Activities		 -54 142 -90 -104 -64 -85 -505 -123 -10 -164 -5.56
Issuance of Debt		 110 325 275 38 45 105 92 90 77 0.00 0.00
Repayment of Debt		 -88 -185 -277 -93 -70 -152 -540 -152 -85 -155 -1.41
Payment of Dividends		 -76 -77 -81 -49 -39 -39 -38 -54 -4.13 -4.14 -4.15
Other Financing Activities, Net		 - -4.26 -6.90 - -0.08 0.00 0.00 -2.56 1.88 -5.66 0.00
Cash Interest Paid		 23 24 30 36 34 33 30 21 26 24 22
Cash Income Taxes Paid		 0.80 0.49 0.58 0.49 0.51 0.48 0.45 0.67 0.34 0.39 0.24

Quarterly Cash Flow Statements for Franklin Street Properties

This table details how cash moves in and out of Franklin Street Properties' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 115 -90 -6.28 11 0.31 -11 -1.04 1.06 -1.00 -6.82 -1.29
Net Cash From Operating Activities		 6.32 -7.09 -0.65 14 2.25 -5.48 -2.88 8.28 3.83 -5.15 3.04
Net Cash From Continuing Operating Activities		 6.32 -7.09 -0.65 14 2.25 -5.48 -2.88 8.28 3.83 -5.15 3.04
Net Income / (Loss) Continuing Operations		 3.58 -7.55 -21 -16 -8.53 -21 -7.88 -8.33 -7.32 -9.53 -17
Consolidated Net Income / (Loss)		 3.58 -7.55 -21 -16 -8.53 -21 -7.88 -8.33 -7.32 -9.53 -17
Depreciation Expense		 13 12 12 12 11 12 11 11 11 12 12
Non-Cash Adjustments to Reconcile Net Income		 -8.50 0.35 14 8.52 1.52 13 -0.23 -0.03 0.19 1.49 8.60
Changes in Operating Assets and Liabilities, net		 -0.22 -12 -5.65 9.90 -2.20 -8.91 -6.08 5.41 -0.32 -8.71 -1.12
Net Cash From Investing Activities		 100 26 -4.49 23 26 -4.45 3.23 -5.29 -3.80 -2.70 -3.14
Net Cash From Continuing Investing Activities		 100 26 -4.49 23 26 -4.45 3.23 -5.29 -3.80 -2.70 -3.14
Purchase of Property, Leasehold Improvements and Equipment		 -5.61 -8.76 -4.49 -5.83 -6.14 -4.45 -2.87 -5.29 -3.81 -2.70 -3.14
Net Cash From Financing Activities		 8.97 -109 -1.15 -26 -28 -1.19 -1.40 -1.94 -1.04 1.03 -1.19
Net Cash From Continuing Financing Activities		 8.97 -109 -1.15 -26 -28 -1.19 -1.40 -1.94 -1.04 1.03 -1.19
Other Financing Activities, Net		 - -5.55 -0.11 - - 0.00 - - - -6.50 -1.19
Cash Interest Paid		 9.04 4.33 8.52 3.19 8.03 2.51 7.67 3.35 8.42 6.12 6.26

Annual Balance Sheets for Franklin Street Properties

This table presents Franklin Street Properties' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,919 2,088 1,991 1,898 1,843 1,793 1,364 1,242 1,169 947 893
Cash and Due from Banks		 18 9.34 9.82 11 9.79 4.15 41 6.63 128 43 31
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 1,510 1,686 1,633 1,626 1,637 1,602 1,191 1,103 891 835 794
Deferred Acquisition Cost		 29 35 41 48 53 56 38 36 24 23 23
Intangible Assets		 108 125 87 60 41 28 15 10 6.69 4.21 2.49
Other Assets		 253 220 207 139 99 102 79 81 120 42 43
Total Liabilities & Shareholders' Equity		 1,919 2,088 1,991 1,898 1,843 1,793 1,364 1,242 1,169 947 893
Total Liabilities		 983 1,126 1,119 1,060 1,056 1,025 581 473 457 291 286
Non-Interest Bearing Deposits		 4.83 5.36 5.38 6.32 9.35 8.68 6.22 5.71 6.20 6.24 6.20
Other Short-Term Payables		 53 - 65 62 70 76 94 54 46 37 31
Long-Term Debt		 618 765 964 963 965 917 474 364 314 247 248
Other Long-Term Liabilities		 9.43 76 5.81 3.80 4.40 3.13 1.69 0.95 0.42 0.75 0.35
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 936 962 871 838 786 768 783 769 713 656 607
Total Preferred & Common Equity		 936 962 871 838 786 768 783 769 713 656 607
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 936 962 871 838 786 768 783 769 713 656 607
Common Stock		 1,274 1,356 1,356 1,356 1,357 1,357 1,339 1,335 1,335 1,335 1,336
Other Equity Adjustments		 -331 -400 -497 -534 -566 -572 -551 -570 -623 -680 -729

Quarterly Balance Sheets for Franklin Street Properties

This table presents Franklin Street Properties' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 1,152 1,039 1,013 982 916 903 901 882 865
Cash and Due from Banks		 13 38 31 42 32 31 32 24 22
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 922 885 841 837 810 803 800 789 758
Deferred Acquisition Cost		 25 25 22 21 22 23 23 23 21
Intangible Assets		 7.45 5.97 5.31 4.70 3.74 3.31 2.90 2.08 1.67
Other Assets		 184 86 113 76 48 43 44 44 61
Total Liabilities & Shareholders' Equity		 1,152 1,039 1,013 982 916 903 901 882 865
Total Liabilities		 440 335 330 316 283 279 286 285 285
Non-Interest Bearing Deposits		 5.63 6.27 6.25 6.12 6.16 6.29 6.26 6.19 6.21
Other Short-Term Payables		 40 31 26 36 29 24 31 27 25
Long-Term Debt		 314 297 297 273 247 248 248 252 253
Other Long-Term Liabilities		 0.54 1.03 0.92 0.81 0.65 0.55 0.45 1.04 0.95
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 711 704 682 665 633 625 615 596 580
Total Preferred & Common Equity		 711 704 682 665 633 625 615 596 580
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 711 704 682 665 633 625 615 596 580
Common Stock		 1,335 1,335 1,335 1,335 1,335 1,336 1,336 1,336 1,336
Other Equity Adjustments		 -625 -631 -653 -670 -702 -711 -720 -739 -756

Annual Metrics And Ratios for Franklin Street Properties

This table displays calculated financial ratios and metrics derived from Franklin Street Properties' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 100,187,405.00 107,231,155.00 107,231,155.00 107,231,155.00 107,231,155.00 107,328,199.00 105,632,725.00 103,235,914.00 103,430,353.00 - 103,690,340.00
DEI Adjusted Shares Outstanding		 100,187,405.00 107,231,155.00 107,231,155.00 107,231,155.00 107,231,155.00 107,328,199.00 105,632,725.00 103,235,914.00 103,430,353.00 - 103,690,340.00
DEI Earnings Per Adjusted Shares Outstanding		 0.35 0.08 -0.15 0.12 0.06 0.30 0.88 0.01 -0.47 - -0.43
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -2.33% 2.47% -11.27% 3.96% 0.79% 8.37% -30.02% -6.04% -11.70% -17.11% -10.75%
EBITDA Growth		 -5.58% -2.43% -9.61% 11.44% -3.02% 23.97% 40.46% -61.64% -91.76% -193.16% 110.88%
EBIT Growth		 -7.25% -34.25% -229.85% 165.95% 1.63% 387.32% 184.06% -98.61% -3,784.98% -9.78% 14.73%
NOPAT Growth		 -4.91% -36.60% -195.43% 189.10% 3.17% 403.71% 182.99% -98.81% -3,160.48% -9.78% 14.73%
Net Income Growth		 166.31% -76.07% -290.31% 181.97% -50.46% 403.71% 184.28% -98.82% -4,497.62% -9.59% 14.72%
EPS Growth		 169.23% -77.14% -287.50% 180.00% -50.00% 400.00% 190.00% -98.85% -4,800.00% -8.51% 15.69%
Operating Cash Flow Growth		 -0.27% -8.27% 1.66% -16.41% 2.14% -16.44% -46.88% -58.10% 17.28% -49.70% -58.24%
Free Cash Flow Firm Growth		 -69.83% -523.69% 157.69% 11.20% -22.88% 17.27% 522.39% -84.66% -63.09% 485.75% -90.87%
Invested Capital Growth		 -1.25% 8.41% -4.61% -4.64% -3.67% -3.04% -26.00% -6.42% -5.40% -19.19% -5.27%
Revenue Q/Q Growth		 -5.91% 1.93% -18.41% 7.49% 9.38% 14.87% -30.30% 43.81% 3.98% 17.86% -1.88%
EBITDA Q/Q Growth		 0.01% -1.78% -14.47% 10.67% 9.53% 37.15% 25.27% -56.15% 7.44% -173.52% 219.19%
EBIT Q/Q Growth		 6.66% -33.65% -249.13% 217.24% 400.67% 1,996.42% 78.88% -98.48% 7.91% -29.99% 2.61%
NOPAT Q/Q Growth		 -51.29% -66.54% -13.13% -39.48% 512.39% 14,158.19% 84.00% -98.67% 11.95% -29.99% 2.61%
Net Income Q/Q Growth		 46.52% -62.02% -71.75% 93.16% 52.14% 2,740.89% 79.74% -98.67% 11.84% -29.79% 2.61%
EPS Q/Q Growth		 52.17% -63.64% -66.67% 100.00% 50.00% 1,600.00% 81.25% 0.00% 0.00% -30.77% 6.52%
Operating Cash Flow Q/Q Growth		 2.99% -1.16% -2.55% -10.42% 5.91% -12.09% -7.72% -18.77% 2.53% -31.17% 72.71%
Free Cash Flow Firm Q/Q Growth		 -46.73% -871.93% 188.88% -30.30% 8.51% 754.11% 42.55% -73.39% -47.83% 28.06% -62.70%
Invested Capital Q/Q Growth		 -0.80% 7.38% -2.28% -0.40% -0.29% -2.75% -11.62% -1.72% 1.05% -3.81% -0.89%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 43.08% 41.02% 41.79% 44.80% 43.10% 49.31% 98.97% 40.40% 3.77% -4.24% 0.52%
EBIT Margin		 4.83% 3.10% -4.54% 2.88% 2.90% 13.05% 52.99% 0.78% -32.72% -43.34% -41.40%
Profit (Net Income) Margin		 14.36% 3.35% -7.19% 5.67% 2.79% 12.96% 52.63% 0.66% -32.91% -43.52% -41.58%
Tax Burden Percent		 98.78% 95.25% 133.53% 196.94% 96.01% 99.24% 99.77% 84.28% 100.58% 100.41% 100.42%
Interest Burden Percent		 300.78% 113.51% 118.66% 100.00% 100.00% 100.00% 99.55% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 1.22% 4.75% 0.00% 5.43% 3.99% 0.76% 0.69% 15.72% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.62% 0.38% -0.36% 0.34% 0.36% 1.88% 6.22% 0.09% -2.91% -3.64% -3.57%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.21% 0.48% -1.21% 1.00% 0.36% 1.88% 6.28% 0.09% -6.50% -8.54% -9.07%
Return on Net Nonoperating Assets (RNNOA)		 3.03% 0.50% -1.38% 1.19% 0.44% 2.31% 5.73% 0.05% -3.58% -4.07% -3.56%
Return on Equity (ROE)		 3.66% 0.88% -1.74% 1.53% 0.80% 4.20% 11.95% 0.14% -6.49% -7.70% -7.12%
Cash Return on Invested Capital (CROIC)		 1.88% -7.69% 4.36% 5.09% 4.09% 4.97% 36.10% 6.73% 2.64% 17.59% 1.85%
Operating Return on Assets (OROA)		 0.61% 0.39% -0.49% 0.34% 0.36% 1.81% 5.91% 0.10% -3.97% -4.96% -4.87%
Return on Assets (ROA)		 1.82% 0.42% -0.78% 0.67% 0.35% 1.79% 5.87% 0.08% -3.99% -4.98% -4.89%
Return on Common Equity (ROCE)		 3.66% 0.88% -1.74% 1.53% 0.80% 4.20% 11.95% 0.14% -6.49% -7.70% -7.12%
Return on Equity Simple (ROE_SIMPLE)		 3.74% 0.87% -1.83% 1.56% 0.82% 4.25% 11.84% 0.14% -6.75% -8.04% -7.41%
Net Operating Profit after Tax (NOPAT)		 12 7.38 -7.04 6.28 6.48 33 92 1.09 -33 -37 -31
NOPAT Margin		 4.77% 2.95% -3.18% 2.72% 2.79% 12.96% 52.39% 0.66% -22.91% -30.34% -28.98%
Net Nonoperating Expense Percent (NNEP)		 -2.58% -0.10% 0.85% -0.67% 0.00% 0.00% -0.06% 0.00% 3.58% 4.90% 5.50%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 95.17% 96.90% 104.54% 97.12% 97.10% 86.95% 47.01% 96.66% 132.72% 143.34% 141.40%
Earnings before Interest and Taxes (EBIT)		 12 7.75 -10 6.64 6.74 33 93 1.30 -48 -53 -45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 105 102 93 103 100 124 174 67 5.51 -5.14 0.56
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.67 0.94 0.91 0.58 0.89 0.50 0.74 0.35 0.35 0.29 0.16
Price to Tangible Book Value (P/TBV)		 0.76 1.08 1.02 0.63 0.94 0.52 0.76 0.35 0.35 0.29 0.16
Price to Revenue (P/Rev)		 2.57 3.60 3.59 2.11 3.02 1.52 3.30 1.62 1.71 1.56 0.90
Price to Earnings (P/E)		 17.93 107.48 0.00 37.29 108.39 11.76 6.27 245.19 0.00 0.00 0.00
Dividend Yield		 12.13% 9.05% 10.23% 10.12% 5.50% 10.08% 12.35% 20.01% 1.65% 2.20% 4.28%
Earnings Yield		 5.58% 0.93% 0.00% 2.68% 0.92% 8.51% 15.94% 0.41% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.82 0.96 0.96 0.80 0.95 0.77 0.81 0.57 0.47 0.44 0.37
Enterprise Value to Revenue (EV/Rev)		 6.26 7.75 8.26 6.35 7.16 5.23 5.79 4.07 3.60 3.24 2.91
Enterprise Value to EBITDA (EV/EBITDA)		 14.52 18.89 19.76 14.18 16.62 10.61 5.85 10.08 95.48 0.00 562.90
Enterprise Value to EBIT (EV/EBIT)		 129.44 249.88 0.00 220.66 246.81 40.06 10.92 519.15 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 131.04 262.35 0.00 233.32 257.06 40.37 11.05 615.96 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.83 20.52 19.08 18.26 20.32 19.24 28.05 44.23 29.47 43.70 83.84
Enterprise Value to Free Cash Flow (EV/FCFF)		 43.57 0.00 21.39 15.39 22.68 15.30 1.90 8.20 17.36 2.21 19.40
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.98 1.09 1.20 1.18 1.24 1.22 0.61 0.54 0.57 0.38 0.41
Long-Term Debt to Equity		 0.66 0.80 1.11 1.15 1.23 1.19 0.60 0.47 0.44 0.38 0.41
Financial Leverage		 0.95 1.03 1.14 1.19 1.21 1.23 0.91 0.57 0.55 0.48 0.39
Leverage Ratio		 2.01 2.11 2.22 2.28 2.30 2.34 2.04 1.68 1.63 1.55 1.46
Compound Leverage Factor		 6.05 2.40 2.64 2.28 2.30 2.34 2.03 1.68 1.63 1.55 1.46
Debt to Total Capital		 49.47% 52.07% 54.49% 54.12% 55.29% 54.96% 37.94% 34.91% 36.20% 27.35% 29.03%
Short-Term Debt to Total Capital		 16.11% 13.95% 4.17% 1.37% 0.44% 1.22% 0.42% 4.06% 8.06% 0.00% 0.00%
Long-Term Debt to Total Capital		 33.36% 38.12% 50.33% 52.75% 54.85% 53.74% 37.53% 30.84% 28.14% 27.35% 29.03%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 50.53% 47.93% 45.51% 45.88% 44.71% 45.04% 62.06% 65.09% 63.80% 72.65% 70.97%
Debt to EBITDA		 8.72 10.20 11.26 9.57 9.71 7.55 2.75 6.16 73.34 -48.07 444.08
Net Debt to EBITDA		 8.55 10.11 11.16 9.46 9.61 7.52 2.51 6.07 50.14 -39.76 389.39
Long-Term Debt to EBITDA		 5.88 7.47 10.40 9.33 9.64 7.38 2.72 5.45 57.01 -48.07 444.08
Debt to NOPAT		 78.68 141.61 -148.13 157.45 150.19 28.74 5.19 376.83 -12.08 -6.72 -7.92
Net Debt to NOPAT		 77.12 140.34 -146.74 155.66 148.67 28.61 4.75 370.77 -8.26 -5.56 -6.95
Long-Term Debt to NOPAT		 53.06 103.68 -136.81 153.46 149.00 28.10 5.13 332.96 -9.39 -6.72 -7.92
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 35 -148 86 95 73 86 536 82 30 178 16
Operating Cash Flow to CapEx		 0.00% 922.74% 583.93% 157.08% 115.79% 0.00% 0.00% 0.00% 0.00% 0.00% 36.42%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 2.64 2.48 2.00 2.39 16.60 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 2.96 2.09 2.23 1.90 1.13 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 2.46 0.76 0.30 2.21 16.88 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.13 0.12 0.11 0.12 0.12 0.14 0.11 0.13 0.12 0.11 0.12
Fixed Asset Turnover		 0.16 0.16 0.13 0.14 0.14 0.16 0.13 0.14 0.15 0.14 0.13
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,852 2,007 1,915 1,826 1,759 1,705 1,262 1,181 1,117 903 855
Invested Capital Turnover		 0.13 0.13 0.11 0.12 0.13 0.15 0.12 0.14 0.13 0.12 0.12
Increase / (Decrease) in Invested Capital		 -23 156 -93 -89 -67 -53 -443 -81 -64 -214 -48
Enterprise Value (EV)		 1,525 1,936 1,830 1,464 1,664 1,317 1,020 674 526 393 315
Market Capitalization		 628 900 797 487 702 383 582 268 250 188 97
Book Value per Share		 $9.34 $8.97 $8.13 $7.81 $7.33 $7.16 $7.41 $7.45 $6.89 $6.33 $5.85
Tangible Book Value per Share		 $8.26 $7.80 $7.32 $7.26 $6.95 $6.89 $7.27 $7.35 $6.83 $6.29 $5.83
Total Capital		 1,852 2,007 1,915 1,826 1,759 1,705 1,262 1,181 1,117 903 855
Total Debt		 916 1,045 1,043 988 972 937 479 412 404 247 248
Total Long-Term Debt		 618 765 964 963 965 917 474 364 314 247 248
Net Debt		 898 1,036 1,034 977 963 933 438 406 276 204 218
Capital Expenditures (CapEx)		 -63 10 16 51 71 -11 -508 -74 -111 -70 10
Net Nonoperating Expense (NNE)		 -23 -1.00 8.90 -6.79 0.00 0.00 -0.42 0.00 15 16 14
Net Nonoperating Obligations (NNO)		 916 1,045 1,043 988 972 937 479 412 404 247 248
Total Depreciation and Amortization (D&A)		 93 95 103 97 93 91 81 66 53 47 45
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.35 $0.08 ($0.15) $0.12 $0.06 $0.30 $0.87 $0.01 ($0.47) ($0.51) ($0.43)
Adjusted Weighted Average Basic Shares Outstanding		 100.19M 107.23M 107.23M 107.23M 107.27M 107.33M 106.67M 103.34M 103.36M 103.51M 103.64M
Adjusted Diluted Earnings per Share		 $0.35 $0.08 ($0.15) $0.12 $0.06 $0.30 $0.87 $0.01 ($0.47) ($0.51) ($0.43)
Adjusted Weighted Average Diluted Shares Outstanding		 100.19M 107.23M 107.23M 107.23M 107.27M 107.33M 106.67M 103.34M 103.36M 103.51M 103.64M
Adjusted Basic & Diluted Earnings per Share		 $0.35 $0.08 ($0.15) $0.12 $0.06 $0.30 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 100.19M 102.84M 107.23M 107.23M 107.23M 107.30M 104.00M 103.24M 103.43M 103.57M 103.69M
Normalized Net Operating Profit after Tax (NOPAT)		 12 10 -7.04 6.28 6.48 33 -20 -22 -17 -22 -22
Normalized NOPAT Margin		 4.77% 4.07% -3.18% 2.72% 2.79% 12.96% -11.39% -13.56% -11.90% -18.30% -20.63%
Pre Tax Income Margin		 14.54% 3.52% -5.39% 2.88% 2.90% 13.05% 52.75% 0.78% -32.72% -43.34% -41.40%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 -0.31 0.17 0.18 0.91 2.89 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 -0.22 0.16 0.18 0.91 2.86 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 -0.82 -1.16 -1.74 1.22 18.65 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 -0.72 -1.17 -1.75 1.21 18.62 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 217.46% 924.82% -511.14% 377.43% 596.19% 118.44% 41.51% 4,934.92% -8.59% -7.85% -9.22%
Augmented Payout Ratio		 217.46% 924.82% -511.14% 377.43% 596.19% 118.44% 61.19% 5,377.61% -8.59% -7.85% -9.22%

Quarterly Metrics And Ratios for Franklin Street Properties

This table displays calculated financial ratios and metrics derived from Franklin Street Properties' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 103,430,353.00 103,430,353.00 103,430,353.00 103,566,715.00 - - 103,566,715.00 103,690,340.00 103,690,340.00 103,690,340.00 103,690,340.00
DEI Adjusted Shares Outstanding		 103,430,353.00 103,430,353.00 103,430,353.00 103,566,715.00 - - 103,566,715.00 103,690,340.00 103,690,340.00 103,690,340.00 103,690,340.00
DEI Earnings Per Adjusted Shares Outstanding		 0.03 -0.07 -0.20 -0.15 - - -0.08 -0.08 -0.07 -0.09 -0.16
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -29.49% 0.63% -14.03% -19.85% -14.48% -14.74% -13.53% -6.78% -7.31% -8.20% -1.66%
EBITDA Growth		 2.59% -73.99% -247.21% 88.06% -80.24% -321.89% 140.49% 174.61% 34.43% 121.54% -224.95%
EBIT Growth		 879.87% -403.03% -151.35% 65.86% -332.62% -185.33% 62.84% 46.53% 14.18% 55.70% -112.41%
NOPAT Growth		 279.39% -318.03% -151.35% 65.86% -265.89% -185.33% 62.84% 46.53% 14.18% 55.70% -112.41%
Net Income Growth		 223.96% -413.88% -149.68% 65.79% -338.49% -183.83% 62.54% 46.70% 14.11% 55.55% -110.83%
EPS Growth		 0.00% -450.00% -150.00% 65.91% -400.00% -200.00% 60.00% 46.67% 33.33% 57.14% -100.00%
Operating Cash Flow Growth		 7.50% -547.31% -141.30% 30.72% -64.39% 22.67% -344.14% -42.78% 70.19% 6.00% 205.46%
Free Cash Flow Firm Growth		 -14.79% 37.71% 37.99% 143.03% 209.38% -35.69% -38.26% -55.26% -79.63% -74.88% -72.60%
Invested Capital Growth		 -5.40% -14.37% -15.44% -15.11% -19.19% -11.95% -10.91% -8.06% -5.27% -3.74% -4.51%
Revenue Q/Q Growth		 11.61% -21.99% -2.86% -5.24% 19.10% -22.23% -1.48% 2.16% -4.62% -4.37% 5.54%
EBITDA Q/Q Growth		 146.35% -70.55% -295.08% 55.17% 176.72% -430.68% 135.60% -17.38% 38.22% -47.01% -306.49%
EBIT Q/Q Growth		 107.99% -305.77% -179.89% 25.79% 45.57% -152.40% 63.55% -6.79% 12.64% -30.28% -74.76%
NOPAT Q/Q Growth		 111.20% -246.74% -179.89% 25.79% 45.57% -152.40% 63.55% -6.79% 12.64% -30.28% -74.76%
Net Income Q/Q Growth		 107.83% -311.24% -178.38% 25.69% 45.42% -151.41% 63.26% -5.71% 12.05% -30.10% -74.29%
EPS Q/Q Growth		 106.82% -333.33% -185.71% 25.00% 40.00% -133.33% 61.90% 0.00% 25.00% -50.00% -77.78%
Operating Cash Flow Q/Q Growth		 -42.90% -212.13% 90.86% 2,333.33% -84.45% -343.49% 47.49% 387.73% -53.74% -234.48% 158.91%
Free Cash Flow Firm Q/Q Growth		 4.91% 141.28% 0.98% -4.92% 33.55% -49.84% -3.07% -31.10% -39.19% -38.14% 5.70%
Invested Capital Q/Q Growth		 1.05% -10.46% -2.11% -4.16% -3.81% -2.43% -0.95% -1.10% -0.89% -0.85% -1.75%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 36.72% 13.86% -27.84% -13.17% 8.49% -36.08% 13.04% 10.54% 15.28% 8.47% -16.57%
EBIT Margin		 8.85% -23.35% -67.28% -52.69% -24.08% -78.14% -28.91% -30.22% -27.68% -37.71% -62.44%
Profit (Net Income) Margin		 8.69% -23.53% -67.43% -52.88% -24.23% -78.33% -29.21% -30.23% -27.88% -37.92% -62.63%
Tax Burden Percent		 98.16% 100.77% 100.23% 100.36% 100.64% 100.24% 101.05% 100.04% 100.72% 100.57% 100.30%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 1.84% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 1.11% -2.21% -6.23% -4.83% -2.02% -6.77% -2.45% -2.59% -2.38% -3.23% -5.40%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.11% -2.87% -8.05% -6.25% -2.82% -9.15% -3.34% -3.55% -3.29% -4.39% -7.41%
Return on Net Nonoperating Assets (RNNOA)		 0.61% -1.35% -3.89% -3.03% -1.34% -3.72% -1.39% -1.44% -1.29% -1.78% -3.08%
Return on Equity (ROE)		 1.71% -3.56% -10.11% -7.86% -3.36% -10.49% -3.85% -4.03% -3.67% -5.02% -8.48%
Cash Return on Invested Capital (CROIC)		 2.64% 11.75% 12.12% 13.57% 17.59% 7.77% 7.51% 4.83% 1.85% 1.15% 1.20%
Operating Return on Assets (OROA)		 1.07% -3.03% -8.59% -6.62% -2.76% -9.31% -3.39% -3.54% -3.25% -4.44% -7.45%
Return on Assets (ROA)		 1.05% -3.06% -8.61% -6.64% -2.77% -9.33% -3.42% -3.54% -3.28% -4.47% -7.47%
Return on Common Equity (ROCE)		 1.71% -3.56% -10.11% -7.86% -3.36% -10.49% -3.85% -4.03% -3.67% -5.02% -8.48%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -8.25% -10.36% -6.10% 0.00% -10.52% -8.56% -7.50% 0.00% -5.54% -7.20%
Net Operating Profit after Tax (NOPAT)		 3.58 -5.25 -15 -11 -5.93 -15 -5.46 -5.83 -5.09 -6.63 -12
NOPAT Margin		 8.69% -16.34% -47.09% -36.88% -16.85% -54.70% -20.24% -21.15% -19.37% -26.40% -43.71%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.66% 1.82% 1.42% 0.80% 2.38% 0.89% 0.96% 0.90% 1.16% 2.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 91.15% 123.35% 167.28% 152.69% 124.08% 178.14% 128.91% 130.22% 127.68% 137.71% 162.44%
Earnings before Interest and Taxes (EBIT)		 3.64 -7.49 -21 -16 -8.47 -21 -7.79 -8.32 -7.27 -9.47 -17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 15 4.45 -8.68 -3.89 2.99 -9.87 3.52 2.90 4.01 2.13 -4.39
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.35 0.32 0.23 0.27 0.29 0.29 0.27 0.27 0.16 0.12 0.09
Price to Tangible Book Value (P/TBV)		 0.35 0.33 0.23 0.27 0.29 0.29 0.27 0.27 0.16 0.12 0.09
Price to Revenue (P/Rev)		 1.71 1.56 1.09 1.33 1.56 1.57 1.50 1.49 0.90 0.65 0.51
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 1.65% 1.81% 2.69% 2.33% 2.20% 2.26% 2.45% 2.52% 4.28% 6.02% 7.77%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.47 0.49 0.43 0.44 0.44 0.45 0.44 0.44 0.37 0.35 0.34
Enterprise Value to Revenue (EV/Rev)		 3.60 3.33 2.97 3.05 3.24 3.43 3.44 3.45 2.91 2.80 2.69
Enterprise Value to EBITDA (EV/EBITDA)		 95.48 0.00 0.00 58.47 0.00 0.00 0.00 0.00 562.90 23.62 61.07
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 29.47 41.00 43.42 31.29 43.70 37.67 46.16 175.21 83.84 72.68 28.42
Enterprise Value to Free Cash Flow (EV/FCFF)		 17.36 3.82 3.24 2.94 2.21 5.46 5.55 8.76 19.40 29.97 27.79
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.57 0.42 0.44 0.41 0.38 0.39 0.40 0.40 0.41 0.42 0.44
Long-Term Debt to Equity		 0.44 0.42 0.44 0.41 0.38 0.39 0.40 0.40 0.41 0.42 0.44
Financial Leverage		 0.55 0.47 0.48 0.48 0.48 0.41 0.42 0.41 0.39 0.41 0.42
Leverage Ratio		 1.63 1.53 1.53 1.55 1.55 1.46 1.47 1.47 1.46 1.46 1.47
Compound Leverage Factor		 1.63 1.53 1.53 1.55 1.55 1.46 1.47 1.47 1.46 1.46 1.47
Debt to Total Capital		 36.20% 29.64% 30.35% 29.10% 27.35% 28.09% 28.40% 28.69% 29.03% 29.66% 30.38%
Short-Term Debt to Total Capital		 8.06% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 28.14% 29.64% 30.35% 29.10% 27.35% 28.09% 28.40% 28.69% 29.03% 29.66% 30.38%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 63.80% 70.36% 69.65% 70.90% 72.65% 71.91% 71.60% 71.31% 70.97% 70.34% 69.62%
Debt to EBITDA		 73.34 -41.50 -13.68 39.09 -48.07 -12.72 -34.11 -527.85 444.08 20.03 54.41
Net Debt to EBITDA		 50.14 -36.21 -12.23 33.03 -39.76 -11.09 -29.91 -460.53 389.39 18.13 49.59
Long-Term Debt to EBITDA		 57.01 -41.50 -13.68 39.09 -48.07 -12.72 -34.11 -527.85 444.08 20.03 54.41
Debt to NOPAT		 -12.08 -7.33 -6.03 -9.66 -6.72 -5.32 -6.65 -7.69 -7.92 -10.93 -8.69
Net Debt to NOPAT		 -8.26 -6.39 -5.39 -8.16 -5.56 -4.65 -5.83 -6.71 -6.95 -9.90 -7.92
Long-Term Debt to NOPAT		 -9.39 -7.33 -6.03 -9.66 -6.72 -5.32 -6.65 -7.69 -7.92 -10.93 -8.69
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 67 163 164 156 208 105 101 70 42 26 28
Operating Cash Flow to CapEx		 0.00% 0.00% -14.43% 0.00% 0.00% -123.06% 0.00% 156.63% 100.87% -191.10% 96.72%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.12 0.13 0.13 0.13 0.11 0.12 0.12 0.12 0.12 0.12 0.12
Fixed Asset Turnover		 0.15 0.15 0.15 0.15 0.14 0.14 0.14 0.13 0.13 0.13 0.14
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,117 1,000 979 939 903 881 872 863 855 848 833
Invested Capital Turnover		 0.13 0.14 0.13 0.13 0.12 0.12 0.12 0.12 0.12 0.12 0.12
Increase / (Decrease) in Invested Capital		 -64 -168 -179 -167 -214 -120 -107 -76 -48 -33 -39
Enterprise Value (EV)		 526 487 419 409 393 399 386 381 315 297 284
Market Capitalization		 250 228 154 178 188 183 169 165 97 69 53
Book Value per Share		 $6.89 $6.81 $6.59 $6.43 $6.33 $6.12 $6.03 $5.93 $5.85 $5.75 $5.59
Tangible Book Value per Share		 $6.83 $6.75 $6.54 $6.38 $6.29 $6.08 $6.00 $5.91 $5.83 $5.73 $5.58
Total Capital		 1,117 1,000 979 939 903 881 872 863 855 848 833
Total Debt		 404 297 297 273 247 247 248 248 248 252 253
Total Long-Term Debt		 314 297 297 273 247 247 248 248 248 252 253
Net Debt		 276 259 266 231 204 216 217 216 218 228 231
Capital Expenditures (CapEx)		 -100 -26 4.49 -23 -26 4.45 -3.23 5.29 3.80 2.70 3.14
Net Nonoperating Expense (NNE)		 0.00 2.31 6.34 4.73 2.60 6.47 2.42 2.50 2.23 2.90 5.02
Net Nonoperating Obligations (NNO)		 404 297 297 273 247 247 248 248 248 252 253
Total Depreciation and Amortization (D&A)		 11 12 12 12 11 12 11 11 11 12 12
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.03 ($0.07) ($0.20) ($0.15) ($0.09) ($0.21) ($0.08) ($0.08) ($0.06) ($0.09) ($0.16)
Adjusted Weighted Average Basic Shares Outstanding		 103.36M 103.43M 103.48M 103.57M 103.51M 103.57M 103.61M 103.69M 103.64M 103.69M 103.81M
Adjusted Diluted Earnings per Share		 $0.03 ($0.07) ($0.20) ($0.15) ($0.09) ($0.21) ($0.08) ($0.08) ($0.06) ($0.09) ($0.16)
Adjusted Weighted Average Diluted Shares Outstanding		 103.36M 103.43M 103.48M 103.57M 103.51M 103.57M 103.61M 103.69M 103.64M 103.69M 103.81M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 103.43M 103.43M 103.57M 103.57M 103.57M 103.57M 103.69M 103.69M 103.69M 103.69M 104.01M
Normalized Net Operating Profit after Tax (NOPAT)		 -4.97 -5.24 -5.44 -5.82 -5.67 -5.67 -5.72 -5.83 -5.09 -6.63 -6.20
Normalized NOPAT Margin		 -12.07% -16.33% -17.46% -19.69% -16.12% -20.72% -21.23% -21.15% -19.37% -26.40% -23.40%
Pre Tax Income Margin		 8.85% -23.35% -67.28% -52.69% -24.08% -78.14% -28.91% -30.22% -27.68% -37.71% -62.44%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -8.59% -7.12% -5.85% -10.19% -7.85% -6.22% -7.75% -8.98% -9.22% -12.54% -7.45%
Augmented Payout Ratio		 -8.59% -7.12% -5.85% -10.19% -7.85% -6.22% -7.75% -8.98% -9.22% -12.54% -7.45%

Financials Breakdown Chart

Key Financial Trends

Franklin Street Properties (NYSE:FSP) remains loss-making, but its balance sheet has improved in some areas. The latest quarter ended June 30, 2026, produced revenue of $26.5 million and a net loss of $16.6 million, or $0.16 per diluted share. Revenue was slightly below the $27.0 million reported in Q2 2025 and materially below $31.2 million in Q2 2024. However, the latest loss was narrower than the $21.0 million loss in Q2 2024.

The company’s results continue to rely heavily on other non-interest income, which contributed $26.4 million of Q2 2026 revenue. Traditional interest income was only $157,000, highlighting the importance of property-related and other non-interest sources. At the same time, depreciation and impairment charges continue to weigh heavily on reported earnings.

  • Debt has declined over the longer term. Long-term debt was $253.1 million at the end of Q2 2026, down from $297.2 million in Q2 2024 and $314.2 million in Q3 2023. This represents a meaningful reduction in financial leverage, although debt increased modestly from $251.5 million in Q1 2026.
  • Operating cash flow returned to positive territory in Q2 2026. FSP generated $3.0 million of cash from operating activities, compared with an outflow of $5.2 million in Q1 2026 and an outflow of $2.9 million in Q2 2025.
  • Cash generation improved sequentially despite the reported loss. Depreciation and other non-cash adjustments more than offset the $16.6 million net loss in Q2, allowing the company to produce positive operating cash flow.
  • Total liabilities have remained relatively stable. Liabilities were $284.9 million at the end of Q2 2026, compared with $285.4 million in Q1 2026 and $278.5 million in Q2 2025. This stability, combined with lower debt than in 2024, provides some balance-sheet support.
  • The company continues to pay a small common dividend. FSP reported a $0.01-per-share dividend in Q1 2026, and quarterly dividend payments have generally been close to $1.0 million. The data does not show a Q2 2026 dividend payment, so investors should monitor whether the distribution remains consistent.
  • Capital spending remains material. FSP spent $3.1 million on property, leasehold improvements and equipment in Q2 2026, following $2.7 million in Q1 and $2.9 million in Q2 2025. These investments may support the portfolio, but they also consume cash while profitability remains weak.
  • FSP has recorded recurring quarterly net losses. Net losses were $7.6 million in Q1 2024, $21.0 million in Q2 2024, $8.3 million in Q3 2025, $7.3 million in Q4 2025, $9.5 million in Q1 2026 and $16.6 million in Q2 2026. The deterioration from Q1 to Q2 2026 is a concern.
  • Impairment charges returned in Q2 2026. The company recorded a $7.7 million impairment charge in the latest quarter, compared with no impairment charge in Q1 2026 and a $384,000 benefit reported in Q2 2025. Additional property impairments could pressure book value and future earnings.
  • Operating expenses exceed revenue before non-cash adjustments. Q2 2026 non-interest expenses totaled $43.1 million against $26.5 million of revenue. Depreciation accounted for $10.4 million and impairment for $7.7 million, but other operating expenses were also substantial at $24.9 million.
  • Asset and equity values have steadily declined. Total assets fell to $864.9 million in Q2 2026 from $903.2 million in Q2 2025 and $981.5 million in Q3 2024. Total common equity declined to $580.0 million from $624.7 million in Q2 2025 and $682.1 million in Q2 2024, reflecting the effect of losses, impairments and other equity adjustments.
  • Liquidity has tightened. Cash and equivalents were $22.5 million at the end of Q2 2026, down from $23.8 million in Q1 2026, $30.5 million in Q2 2025 and $42.4 million in Q3 2024. Q2 cash declined by $1.3 million after $3.1 million of investing outflows and $1.2 million of financing outflows.

Overall, FSP’s lower debt and improving second-quarter operating cash flow are constructive, but they are offset by persistent net losses, declining assets and equity, limited cash reserves and renewed impairment charges. Retail investors should focus on whether operating cash flow can remain positive without relying on asset sales or additional borrowing, and whether the company can stabilize property values and recurring revenue.

10/23/26 01:46 AM ETAI Generated. May Contain Errors.

Franklin Street Properties Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Franklin Street Properties' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Franklin Street Properties' net income appears to be on a downward trend, with a most recent value of -$44.96 million in 2025, compared with $35.01 million in 2015. The previous period was -$52.72 million in 2024.

Over the last 10 years, Franklin Street Properties' total revenue changed from $243.87 million in 2015 to $108.14 million in 2025, a change of -55.7%.

In the past 11 quarters, Franklin Street Properties' cash and equivalents has ranged from $13.04 million in Q3 2023 to $42.38 million in Q3 2024, and is currently $22.46 million as of their latest financial filing in Q2 2026.

Franklin Street Properties had total debt of $248.24 million at the end of 2025, a 0.5% increase from 2024, and a 72.9% decrease since 2015.

Over the last 10 years, Franklin Street Properties' book value per share changed from 9.34 in 2015 to 5.85 in 2025, a change of -37.3%.


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Financial statements for NYSE:FSP last updated on 7/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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